{"id":574902,"date":"2020-09-27T04:00:20","date_gmt":"2020-09-27T04:00:20","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/?post_type=issue&#038;p=574902"},"modified":"2025-12-16T09:58:26","modified_gmt":"2025-12-16T09:58:26","slug":"what-does-the-central-banks-surprise-50-bps-interest-rate-cut-mean","status":"publish","type":"issue","link":"https:\/\/enterpriseam.com\/egypt\/issues\/what-does-the-central-banks-surprise-50-bps-interest-rate-cut-mean\/","title":{"rendered":"What does the central bank\u2019s surprise 50 bps interest rate cut mean?"},"content":{"rendered":"<section id=\"574904\" 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=\"574904\">\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\/27\/what-were-tracking-on-27-september-2020\/\">\r\n                            What we\u2019re tracking on 27 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\/27\/what-were-tracking-on-27-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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It\u2019s US-centric, but Politico\u2019s <strong><a href=\"https:\/\/www.politico.com\/news\/magazine\/2020\/09\/25\/how-covid-19-pandemic-ends-421122\">Here\u2019s how the pandemic finally ends<\/a><\/strong> likely holds true (in the main) here in Omm El Donia, too. Consider it your morning must-read.<\/p><p>Meanwhile, <strong>the Central Bank of Egypt made a surprise (if modest) rate cut on Thursday<\/strong>, confounding pundits who expected it to leave interest rates on hold. We have chapter and verse in this morning\u2019s Speed Round, below.<\/p><p><strong>We\u2019ll hear later today who\u2019s throwing their hat in the ring for House elections<\/strong>, <a href=\"https:\/\/bit.ly\/366TIbH\">Youm7<\/a> reports. Voters go to the polls in phases starting late this month.<\/p><p><strong>EFG Hermes\u2019 virtual investor conference enters its second week today<\/strong> and is set to wrap this Thursday, 1 October. The conference brings together more than 650 institutional investors with aggregate AUM north of USD 17 tn with top listed companies to chew over the prospects for frontier and emerging markets. You can <a href=\"https:\/\/2ndvirtualconference.efghermes.com\/pages\/home.aspx\">visit the conference website here<\/a>.<\/p><p><strong>WATCH THIS SPACE- The government will shop seven \u201cindustrial complexes\u201d to <\/strong><strong>potential investors starting next month<\/strong>, Trade and Industry Minister Nevine Gamea <a href=\"https:\/\/bit.ly\/2EGN00M\">said<\/a> during a virtual meeting of the Egyptian-Lebanese Businessmen\u2019s Association on Thursday.<\/p><p class=\"web-image\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2020\/9\/CIB-PSA-1st-tour-1600px.jpg?ssl=1\" alt=\"enterprise\"><\/p><p><strong>The CIB PSA World Tour Finals kick off tomorrow at Marakez\u2019s flagship Mall of <\/strong><strong>Arabia, which is hosting the event for the second consecutive year<\/strong>, according to a <a href=\"https:\/\/ent.news\/2020\/9\/MoA-Hosts-CIB-PSA-World-Tour-Finals-EN.pdf\">press release (pdf)<\/a>. The squash championship, which is sponsored by our friends at CIB, runs through Saturday and will see 16 men and women competing for a combined USD 370k prize. Egyptian world no.1 Nouran Gohar and compatriot Nour El Sherbini will go <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/b6fc77e6-4e85-4cf5-8c6a-429316389b2d\">head-to-head<\/a> in Women\u2019s Group A, while world no.1 Ali Farag and defending champion Karim Abdel Gawad will be representing Egypt in Men\u2019s Group A. The championship will be held outdoors at Mall of Arabia\u2019s the Park, which has been set up to hold 1k spectators. You can get tickets for the event <a href=\"https:\/\/www.ticketsmarche.com\/cib-psa-world-tour-finals_se_1864.html\">here<\/a>.<\/p><p><strong>October wll also be big month for squash fans: <\/strong>The CIB Egyptian Squash Open runs 10-17 October, overlooking the Giza Pyramids for the second year in a row.<\/p><p>And in other racket-sport news: <strong>Mayar Sherif <\/strong><strong><a href=\"https:\/\/egyptianstreets.com\/2020\/09\/26\/mayar-sherif-becomes-first-egyptian-woman-to-reach-roland-garros-main-draw\/\">has become<\/a><\/strong><strong> the first Egyptian woman to make <\/strong><strong>it to the main draw of the French Open at Roland Garros<\/strong> after defeating Italian Giulia Gatto-Monticone on Friday.<\/p><hr class=\"grey-line\"><p><strong>SIGN OF THE TIMES- Uber subsidiary Careem is moving to a permanent WFH <\/strong><strong>schedule<\/strong>, the company <a href=\"https:\/\/twitter.com\/MudassirSheikha\/status\/1309058889300799488\">announced<\/a> in a Linkedin Live session Thursday. The move affects employees at 36 offices worldwide, with the company saying it has seen an uptick in productivity in the past few months. Careem\u2019s current offices will be redesigned as \u201ccollaboration hubs\u201d for employees wishing to meet in person. Want to know how other employers in Egypt are adjusting their remote working policies? Check out our <a href=\"https:\/\/enterprise.press\/#tldr-story-01\">WFH survey<\/a> published last week.<\/p><p><strong>MARKET WATCH- US stocks inched up on Friday but the brief rally wasn\u2019t enough <\/strong><strong>to offset the fourth consecutive weekly decline.<\/strong> Buoyed by a rally in tech stocks, the Nasdaq closed up 2.3% on Friday, while the S&amp;P was up 1.6% by closing bell, and the Dow Jones finished 1.3% in the green.<\/p><p><strong>The FAANG gang looks to be on track for a particularly ugly month:<\/strong> Facebook, Apple, Amazon, Netflix, and Google have lost a collective USD 817 bn of their market value so far in September, putting the group of big tech stocks on track for their sharpest ever monthly decline, says <a href=\"https:\/\/www.marketwatch.com\/story\/wall-streets-biggest-5-stocks-by-value-are-on-track-for-their-worst-month-ever-11601060388?mod=home-page\">MarketWatch<\/a>.<\/p><p><strong>Expect more volatility this week<\/strong> with a US jobs report out on Friday, hopes for progress in stimulus talks in Washington, and <strong>Tuesday night\u2019s presidential debate<\/strong> meaning that stocks will likely continue to be whipsawed over the coming week, analysts tell <a href=\"https:\/\/www.cnbc.com\/2020\/09\/25\/market-volatility-expected-to-continue-in-the-week-ahead-with-presidential-debate-and-jobs-report.html\">CNBC<\/a>.<\/p><hr class=\"grey-line\"><p><strong>The Health Ministry <\/strong><strong><a href=\"https:\/\/bit.ly\/2G2yH7j\">reported<\/a><\/strong><strong> 111<\/strong><strong> new covid-19 infections yesterday<\/strong>, down from 112 the day before. Egypt has now disclosed a total of 102,736 confirmed cases of covid-19. The ministry also reported 16 new deaths, bringing the country\u2019s total death toll to 5,869. We now have a total of 94,374 confirmed cases that have fully recovered.<\/p><p><strong>Umrah pilgrimages from Egypt to Mecca will likely not resume before January, <\/strong>when a covid-19 vaccine is expected to be made available, Chamber of Tourism Companies member Ashraf Shiha told El Hekaya\u2019s Amr Adib last night (<a href=\"https:\/\/www.youtube.com\/watch?v=psB_iZ5-M7E\">watch, runtime: 7:44<\/a>). Umrah will resume on Sunday, 4 October, with 6k people being allowed to perform the ritual daily. Pilgrims must be Saudis or current residents of the kingdom and will be allowed <a href=\"https:\/\/www.arabnews.com\/node\/1739701\/saudi-arabia\">three hours to perform the ritual in groups of just 1k<\/a>.<\/p><p><strong>The covid-19 pandemic could claim 2 mn lives by the middle of next year even as <\/strong><strong>vaccines are rolled out worldwide<\/strong>, Dr. Mike Ryan, executive director of the WHO\u2019s health emergencies program, said during a presser on Friday, <a href=\"https:\/\/www.cnbc.com\/2020\/09\/25\/who-says-2-million-coronavirus-deaths-is-not-impossible-as-world-approaches-1-million-.html\">CNBC<\/a> reports.<\/p><p><strong>The world has seen more than 32 mn cases, and more than 990k deaths from the disease <\/strong><strong>thus far<\/strong>, according to <a href=\"https:\/\/coronavirus.jhu.edu\/map.html\">Johns Hopkins University<\/a>\u2019s tally.<\/p><hr class=\"grey-line\"><p><strong>Remember SPACs? Along with scarce private funding, they\u2019re helping to fuel a US<\/strong><strong> IPO boom:<\/strong> US healthcare and technology companies are in an IPO bonanza that has raised more funding YTD than any year since 2000, except for 2014, the Wall Street Journal reports. <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/a6ab3251-641a-4e2c-aa00-6b8486d10c68\">Special-purpose acquisition companies<\/a> (SPACs) \u2014 a kind of shell company used to acquire businesses and take them public after securing \u2018blank check\u2019 investment \u2014 are an increasingly popular alternative to conventional IPOs and are responsible for 40% of new listings in 2020, which has so far seen US companies raise USD 95 bn. Some 235 companies have gone public so far this year, putting 2020 on course to surpass the year 2000 when 439 companies listed during the height of the tech boom. Read: <strong><a href=\"https:\/\/www.wsj.com\/articles\/ipo-market-parties-like-its-1999-11601052419\">IPO market parties like it\u2019s 1999.<\/a><\/strong><\/p><p><strong>One recent example:<\/strong> A blank check company formed by Vector Capital to target the tech industry, Vector Acquisition, last week raised USD 300 mn by offering 30 mn shares at USD 10, <a href=\"https:\/\/www.renaissancecapital.com\/IPO-Center\/News\/71550\/Vector-Capitals-tech-SPAC-Vector-Acquisition-prices-%24300-million-IPO-at-%2410\">Renaissance Capital<\/a> says.<\/p><p><strong>US hedgies and activists shareholders could stay in \u201cstealth mode\u201d longer <\/strong>thanks to proposed regulatory changes across the pond that would require only funds with assets of more than USD 3.5 bn to submit quarterly 13F filings, which disclose their public equity holdings, according to the <a href=\"https:\/\/www.ft.com\/content\/dbb65603-ece2-45b9-988c-20847594a40b\">Financial Times<\/a>. Listed companies are concerned the proposed changes would make activist investors \u2014 or investors who purchase a large number of shares with a view to winning a board seat and making changes \u2014 a significant threat to smaller companies.<\/p><p>In tech news worth knowing this morning:<\/p><ul>\n<li><strong>The next few days could make or break the TikTok sale:<\/strong> Chinese regulators will <a href=\"https:\/\/www.wsj.com\/articles\/tiktoks-fate-coming-to-a-head-11601123700?mod=hp_lead_pos5\">this week either approve or block<\/a> TikTok\u2019s Beijing-based parent ByteDance\u2019s agreement with Oracle to separate its US operations, while a US court <a href=\"https:\/\/www.reuters.com\/article\/us-usa-tiktok-ban\/judge-to-hold-hearing-sunday-on-planned-tiktok-u-s-app-store-ban-idUSKCN26G2UW\">will today decide<\/a> whether to allow the Commerce Department to ban new downloads of TikTok.<\/li>\n<li><strong>US-China chip wars intensify:<\/strong> The US has sanctioned China\u2019s biggest chipmaker, Semiconductor Manufacturing International Corporation (SMIC), in another move designed to choke the country\u2019s domestic semiconductor industry after last year banning US suppliers from doing business with Huawei, the <a href=\"https:\/\/www.ft.com\/content\/7325dcea-e327-4054-9b24-7a12a6a2cac6\">Financial Times<\/a> reports.<\/li>\n<li><strong>Apple temporarily, partially drops 30% store tax:<\/strong> Apple is waiving the 30% commission it takes on covid-hit businesses looking to pivot to online-only events, after growing vocal opposition to the rules of its store, the <a href=\"https:\/\/www.ft.com\/content\/fbabedb0-3ed2-4c47-94f2-f165bd15edb3\">Financial Times<\/a> reports.<\/li>\n<li><strong>A step towards zero-emission air transport:<\/strong> A hydrogen fuel-cell plane capable of carrying passengers, ZeroAvia, completed its first flight this week, taking off from Germany\u2019s Stuttgart Airport, <a href=\"https:\/\/www.cnbc.com\/2020\/09\/25\/hydrogen-powered-passenger-plane-completes-maiden-flight.html\">CNBC<\/a> reports.<\/li>\n<\/ul><p><strong>For our fellow gadget nerds: Amazon has unveiled a drone that will fly around and keep <\/strong><strong>an eye on things inside the house when you\u2019re not home.<\/strong> Daring Fireball\u2019s John Gruber speaks for us when he writes: \u201cI can\u2019t remember the last time when a product announcement filled me with such simultaneous <em>\u2018I need that\u2019<\/em> glee (flying robots for $250) and <em>\u2018no way is that going in my home\u2019<\/em> dread.\u201d The Verge has a rundown on the <a href=\"https:\/\/www.theverge.com\/2020\/9\/24\/21453709\/ring-always-home-cam-indoor-drone-security-camera-price-specs-features-amazon\">13 gadgets Amazon announced last week<\/a>.<\/p><hr class=\"grey-line\"><p><strong>Lebanon\u2019s prime minister-designate Mustapha Adib has stepped down<\/strong> a month after being picked for the position, after failing to form a non-partisan cabinet in the country where power is shared between Sunnis, Shia and Christians, <a href=\"https:\/\/reut.rs\/2FTJtwM\">Reuters<\/a> reports.<\/p><p><strong>Palestinian President Mahmoud Abbas called for an international peace conference in <\/strong><strong>early 2021<\/strong>, <a href=\"https:\/\/www.france24.com\/en\/20200925-abbas-asks-un-for-international-mideast-conference-next-year\">AFP<\/a> reports. His call comes as <a href=\"https:\/\/www.theguardian.com\/world\/2020\/sep\/24\/saudi-heir-and-jared-kushner-inch-kingdom-towards-deal-with-israel\">momentum builds<\/a> in the region for closer ties with Israel following the recent normalization agreements signed by the UAE and Bahrain.<\/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><\/p><p><strong>US ELECTION WATCH- Trump nominates conservative to fill Bader Ginsburg\u2019s supreme court seat: <\/strong>Trump lauded Amy Coney Barrett as \u201cone of our nation\u2019s most brilliant and gifted legal minds ... a woman of unparalleled achievement, towering intellect, sterling credentials and unyielding loyalty to the Constitution.\u201d A Catholic and conservative jurist, Barrett's confirmation would tighten the political right\u2019s grip on the US\u2019 highest court for many years to come, the <a href=\"https:\/\/www.washingtonpost.com\/elections\/2020\/09\/26\/supreme-court-trump-biden-live-updates\/\">Washington<\/a><a href=\"https:\/\/www.washingtonpost.com\/elections\/2020\/09\/26\/supreme-court-trump-biden-live-updates\/\">Post<\/a> suggests. <strong>The nomination received wide coverage across US and international news outlets:<\/strong> <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2020-09-26\/amy-coney-barrett-picked-by-trump-to-push-court-further-to-right?srnd=premium%20\/\/\">Bloomberg<\/a> | <a href=\"https:\/\/www.nytimes.com\/2020\/09\/26\/us\/politics\/amy-coney-barrett-supreme-court.html%20\/\/\">New York Times<\/a> | <a href=\"https:\/\/www.wsj.com\/articles\/trump-set-to-announce-nomination-of-amy-coney-barrett-for-supreme-court-11601128552?mod=hp_lead_pos1%20\/\/\">Wall Street Journal<\/a> | <a href=\"https:\/\/www.bbc.com\/news\/world-us-canada-54312699%20\/\/\">BBC<\/a> | <a href=\"http:\/\/www.cnn.com\/2020\/09\/26\/politics\/amy-coney-barrett-supreme-court-nominee\/index.html\">CNN<\/a> | <a href=\"https:\/\/www.ft.com\/content\/19d08c2e-7130-4147-a8b9-a6763bb92777%20\/\/\">Financial Times<\/a> |<\/p><p><strong>Reminder:<\/strong> The first presidential debate will be held in Cleveland on Tuesday night.<\/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\/amazon\/\">Amazon<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/apple\/\">Apple<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" 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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=\"574906\">\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\/27\/last-nights-talk-shows-on-27-september-2020\/\">\r\n                            Last Night\u2019s Talk Shows on 27 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\" 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href=\"https:\/\/www.linkedin.com\/shareArticle?mini=true&url=https:\/\/enterpriseam.com\/egypt\/2020\/09\/27\/last-nights-talk-shows-on-27-september-2020\/&title=Last Night\u2019s Talk Shows on 27 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+27+September+2020+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2020%2F09%2F27%2Flast-nights-talk-shows-on-27-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\/27\/last-nights-talk-shows-on-27-september-2020\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-574906\" class=\"content-area-description single-story post-574906 post type-post status-publish format-standard hentry category-enterprise-last-nights-talk-shows tag-commodities tag-construction tag-education tag-enterprise-last-nights-talk-shows tag-enterpriseam tag-housing tag-politics wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>It was a mixed bag of nuts on the airwaves last night:<\/strong> We had the education minister on to talk about the upcoming school year, the public enterprises minister talking about a number of projects the ministry is working on, more coverage of the upcoming parliamentary elections \u2014 and of course, the updates on the government\u2019s efforts to crack down on informal construction.<\/p>\n<p><strong>Hisham Tawfik on electric vehicles, cotton:<\/strong> Public Enterprises Minister Hisham Tawfik sat down for a wide-ranging interview with Ibn Misr\u2019s Moustafa El Minshawy. Here are the highlights:<\/p>\n<ul>\n<li><strong>Electric cars:<\/strong> We could see electric vehicles produced at El Nasr Automotive\u2019s factory on the street as soon as the end of next year, Tawfik said, without elaborating.<\/li>\n<li><strong>Cotton exchange to return next year:<\/strong> Tawfik said that they are planning to restore exchange for trading cotton by the end of next year. There are also attempts to plant short-staple cotton, and the results of the trial will be known by the end of September, he said.<\/li>\n<li><strong>New show for the pyramids:<\/strong> The Public Enterprises Ministry is working with the Sound and Light Company to prepare a new show at the pyramids, and will bring in the private sector to work on the project, he said without elaborating <a href=\"https:\/\/www.youtube.com\/watch?v=50ySJg-LTWM&t=622s\">(watch, runtime: 12:28)<\/a>.<\/li>\n<\/ul>\n<p><strong>Shawki on the new system for the coming school year:<\/strong> El Hekaya\u2019s Amr Adib phoned Education Minister Tarek Shawki, who elaborated on how teaching will be delivered in the upcoming school year. Students in public schools will have in-class lessons two days\u2019 a week, and these hours will be dedicated to physical education, discussing assignments and answering questions. The main subjects which will be taught online during the other three days of the week, he said <a href=\"https:\/\/www.youtube.com\/watch?v=WUKCHPXtZ38\">(watch, runtime: 6:19)<\/a>. <strong>Public schools are back in session on 17 October.<\/strong><\/p>\n<p><strong>Wildcat builders now have another month to settle with the government: <\/strong>Ala Mas\u2019ouleety\u2019s Ahmed Moussa phoned Cabinet Spokesman Nader Saad who said that the government decided to extend the deadline for settling building violations to 31 October. People who have already applied but with incomplete papers still have until the end of November. The number of reconciliation requests is now at 1.4 mn, he said.<\/p>\n<p><strong>Also making the rounds:<\/strong> Masaa DMC's Eman El Hosary chewed over upcoming elections for the House of Representatives ahead of the 21 October opening of polls <a href=\"https:\/\/www.youtube.com\/watch?v=5frLiZ2IaEw\">(watch, runtime: 12:54)<\/a>. She also discussed plans to protect homes and businesses in Qena from flooding <a href=\"https:\/\/www.youtube.com\/watch?v=wMXPAIddRoU\">(watch, runtime: 4:54)<\/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\/commodities\/\">commodities<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/construction\/\">construction<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/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\/housing\/\">housing<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/politics\/\">politics<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"574907\" 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=\"574907\">\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\/27\/against-expectations-central-bank-of-egypt-cuts-interest-rates-by-50-bps\/\">\r\n                            Against expectations, Central Bank of Egypt cuts interest rates by 50 bps                        <\/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\/27\/against-expectations-central-bank-of-egypt-cuts-interest-rates-by-50-bps\/\" 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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In a research note out late last Wednesday, Arqaam Capital suggested however that there was a \u201cdecent chance\u201d for a small rate cut as Egypt\u2019s carry trade has been one of the most profitable among emerging markets for the carry trade, with double the risk-adjusted return on one-year t-bills offered by its EM peers.<\/p>\n<p><strong>Where rates stand now:<\/strong> The CBE\u2019s overnight deposit rate is now at 8.75% and the lending rate is 9.75%. The main operation and discount rates are now at 9.25%.<\/p>\n<p><strong>Low inflation paves the way:<\/strong> \u201cAs incoming data continues to confirm the moderation of inflation expectations, the reduction of policy rates in today\u2019s Monetary Policy Committee (MPC) meeting provides appropriate support to economic activity, while remaining consistent with achieving price stability over the medium-term,\u201d the central bank said. Annual headline urban inflation decelerated to a 10-month low of <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/c6d5bc25-216b-4cc9-9246-92eefbcacd4c\">3.4% in August<\/a>, while preliminary figures show real GDP growth in FY2019-2020 came in at 3.5%, the central bank said. Despite unemployment rising to a two-year high in 2Q2020, the bank sees \u201ca gradual recovery in economic activity,\u201d as indicated by key economic indicators stabilizing in July and August.<\/p>\n<p><strong>The CBE now expects inflation to fall on the lower end of its 6-12% target range in 4Q2020.<\/strong> Renaissance Capital had expected as much, saying in a research note <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/2efff360-1ba5-4323-8659-b29a24c332d0\">earlier this month<\/a> that inflation is expected to close out the year just below the inner band target, thanks to muted consumer demand. The firm had expected the CBE to take \u201cmeasures\u201d to nudge inflation up to remain within the targeted range, suggesting that one possible route would be canceling the 15% high-yielding certificates of deposit \u2014 a prophecy that was realized <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/ec2b8fab-2b69-4010-b139-69f85ab44591\">last week<\/a>.<\/p>\n<p><strong>The decision to move towards monetary easing suggests that the CBE is not concerned about spooking the carry trade<\/strong>, Arqaam\u2019s Noaman Khalid told <a href=\"https:\/\/www.reuters.com\/article\/idUSKCN26F3HX\">Reuters<\/a>. Foreign liquidity is also \u201crelatively stable,\u201d Beltone Financial said in a research note on Thursday. Remittances from Egyptians working abroad rose 11% <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/d9be7866-5adb-4a96-85fa-6f859b1d26a3\">in July<\/a> against expectations, which has helped provide FX support amid low revenues from tourism and exports.<\/p>\n<p><strong>Pushing back on the EGP?<\/strong> \u201cThe central bank may have also wanted to push back against the recent appreciation of the EGP,\u201d Capital Economics\u2019 James Swanston wrote, noting that the EGP has appreciated by 1% against the greenback since the last MPC meeting.<\/p>\n<p><strong>A rate cut could also help spur capex borrowing and generally be \u201cgood news for businesses in terms of liquidity<\/strong>, which has been quite tight since the pandemic,\u201d Naeem Brokerage\u2019s director of research Allen Sandeep told <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2020-09-24\/egypt-surprises-with-first-rate-cut-since-march-as-focus-shifts?sref=mmeFTDW1\">Bloomberg<\/a>. Our 2020 reader poll <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/1428f01f-9682-484b-8152-b9b69ea63b4a\">earlier this year<\/a> had suggested that 46% of you wanted to see interest rates fall to around their current levels to unlock capex spending, but private demand growth is now the key to encourage capex borrowing, Beltone said.<\/p>\n<p><strong>Could we see more rate cuts?<\/strong> It\u2019s unlikely in the short term, says EFG Hermes\u2019 head of macroeconomic research Mohamed Abu Basha. While there\u2019s room for more monetary easing, Abu Basha says the \u201cuncertain external environment\u201d makes it improbable that the CBE will push more cuts soon. Swanston thinks that the central bank will \u201cremain cautious\u201d in the months ahead, but is now forecasting rates to fall to 7% by the end of next year.<\/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\/central-bank-of-egypt\/\">Central Bank of Egypt<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/interest-rates\/\">interest rates<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/monetary-policy\/\">monetary policy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/speed-round\/\">SPEED ROUND<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"574920\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"574921\" 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=\"574921\">\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\">Image of the Day<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2020\/09\/27\/mummy-portraits-were-surprisingly-accurate\/\">\r\n                            \u201cMummy portraits\u201d were surprisingly accurate                        <\/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\/27\/mummy-portraits-were-surprisingly-accurate\/\" 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\/27\/mummy-portraits-were-surprisingly-accurate\/')\">\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\/27\/mummy-portraits-were-surprisingly-accurate\/\">\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=\u201cMummy portraits\u201d were surprisingly accurate&url=https:\/\/enterpriseam.com\/egypt\/2020\/09\/27\/mummy-portraits-were-surprisingly-accurate\/\">\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\/27\/mummy-portraits-were-surprisingly-accurate\/&title=\u201cMummy portraits\u201d were surprisingly accurate\">\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=%E2%80%9CMummy+portraits%E2%80%9D+were+surprisingly+accurate+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2020%2F09%2F27%2Fmummy-portraits-were-surprisingly-accurate%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\/27\/mummy-portraits-were-surprisingly-accurate\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2020\/9\/283.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"574922\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2020\/09\/27\/mummy-portraits-were-surprisingly-accurate\/283-jpg-20\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2020\/9\/283.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"283.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2020\/9\/283.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2020\/9\/283.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-574921\" class=\"content-area-description single-story post-574921 post type-post status-publish format-standard has-post-thumbnail hentry category-image-of-the-day tag-ancient-egypt tag-enterpriseam tag-image-of-the-day wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>\u201cMummy portraits\u201d were surprisingly accurate:<\/strong> Austrian and German scientists have completed a 3D facial reconstruction of a boy mummy that bears a striking resemblance to a portrait of the mummy that was buried alongside his remains, according to <a href=\"https:\/\/www.livescience.com\/mummy-portraits-egypt-accuracy.html?utm_source=notification\">LiveScience<\/a>. An analysis of the skeleton\u2019s bones and teeth indicates that the boy was roughly 3 to 4 years\u2019 old, whereas the mummy portrait suggests the boy was older. This discrepancy suggests this could have been an artistic convention of the time, said lead researcher Andreas Nerlich. The so-called \u201cmummy portraits\u201d became popular among Egyptians during the Greco-Roman times with artists painting a portrait of the deceased to be buried with them.<\/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\/image-of-the-day\/\">IMAGE OF THE DAY<\/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=\"574923\" 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=\"574923\">\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\/27\/egypt-in-the-news-on-27-september-2020\/\">\r\n                            Egypt in the News on 27 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\/27\/egypt-in-the-news-on-27-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\/27\/egypt-in-the-news-on-27-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\/27\/egypt-in-the-news-on-27-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 27 September 2020&url=https:\/\/enterpriseam.com\/egypt\/2020\/09\/27\/egypt-in-the-news-on-27-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\/27\/egypt-in-the-news-on-27-september-2020\/&title=Egypt in the News on 27 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+27+September+2020+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2020%2F09%2F27%2Fegypt-in-the-news-on-27-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\/27\/egypt-in-the-news-on-27-september-2020\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-574923\" class=\"content-area-description single-story post-574923 post type-post status-publish format-standard hentry category-egypt-in-the-news tag-metoo tag-agriculture tag-egypt-in-the-news tag-enterpriseam tag-gaza tag-irrigation-ministry tag-middle-east tag-politics tag-water wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>Topping coverage of Egypt in the foreign press this morning:<\/strong> Egypt returned the bodies of two Palestinian fisherman to Gaza yesterday after they were allegedly killed at sea by Egyptian naval forces, <a href=\"https:\/\/apnews.com\/article\/egypt-middle-east-gaza-strip-0d21bae453bd6d38008176a83840c824\">Associated Press<\/a> reports, citing a statement by the territory\u2019s Interior Ministry. A third fisherman is receiving treatment in Egypt. <a href=\"https:\/\/www.reuters.com\/article\/idUSKBN26H0SV\">Reuters<\/a>, <a href=\"https:\/\/www.haaretz.com\/middle-east-news\/palestinians\/egyptian-navy-kills-two-gaza-fishermen-palestinians-say-1.9188907\">Haaretz<\/a>, and the <a href=\"https:\/\/www.timesofisrael.com\/egypt-returns-bodies-of-2-gaza-fishermen-shot-by-its-navy\/\">Times of Israel<\/a> also picked up the story.<\/p>\n<p><strong>Small demos reported in Damietta:<\/strong> Security forces arrested 10 people in Damietta on Friday after small demonstrations broke out, <a href=\"https:\/\/apnews.com\/article\/dubai-united-arab-emirates-egypt-media-arrests-cecc4baaf13c95e369c46ce20f167636\">the Associated Press<\/a> reported. Four more people were said to have been arrested in Luxor on charges of intention to spark riots.<\/p>\n<p>Also getting attention this morning:<\/p>\n<ul>\n<li><strong>Egypt\u2019s #MeToo:<\/strong> The success of Egypt\u2019s feminist social media campaign against male violence hinges on it escaping social media to penetrate broader segments of society, NGOs say, according to <a href=\"https:\/\/www.reuters.com\/article\/idUSKCN26F1Y7\">Reuters<\/a>. <\/li>\n<li><strong>Court upholds controversial anti-Jewish ruling:<\/strong> A 2014 ruling prohibiting the celebration of the birth of Jewish rabbi Abu Hasira in Beheira Governorate has been upheld by the Supreme Administrative Court, <a href=\"https:\/\/www.bbc.com\/arabic\/middleeast-54307967?fbclid=IwAR2pOO7k8rUxXgx95UWvMTjxRkKN8RJOiPLFW2z__dtDsJLXcwNDOGfM_LQ\">BBC Arabic<\/a> reports.<\/li>\n<li><strong>Efforts to reduce water waste:<\/strong> <a href=\"https:\/\/www.reuters.com\/article\/idUSL8N2G4360\">Reuters<\/a> took a look at the <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/f82115cc-5ae7-4a77-9e6a-a14ba2fec52c\">Irrigation Ministry\u2019s scheme<\/a> to promote drip-irrigation and sprinkler systems among farmers in a bid to combat water waste in agriculture, which farmers say uses 25% less water and improves yield by 20%.<\/li>\n<\/ul>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/metoo\/\">#MeToo<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/agriculture\/\">agriculture<\/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\/gaza\/\">Gaza<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/irrigation-ministry\/\">Irrigation Ministry<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/middle-east\/\">Middle East<\/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\/water\/\">water<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"574924\" 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=\"574924\">\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\/27\/diplomacy-foreign-trade-on-27-september-2020\/\">\r\n                            Diplomacy + Foreign Trade on 27 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\/27\/diplomacy-foreign-trade-on-27-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\/27\/diplomacy-foreign-trade-on-27-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\/27\/diplomacy-foreign-trade-on-27-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=Diplomacy + Foreign Trade on 27 September 2020&url=https:\/\/enterpriseam.com\/egypt\/2020\/09\/27\/diplomacy-foreign-trade-on-27-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\/27\/diplomacy-foreign-trade-on-27-september-2020\/&title=Diplomacy + Foreign Trade on 27 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=Diplomacy+%2B+Foreign+Trade+on+27+September+2020+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2020%2F09%2F27%2Fdiplomacy-foreign-trade-on-27-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\/27\/diplomacy-foreign-trade-on-27-september-2020\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-574924\" class=\"content-area-description single-story post-574924 post type-post status-publish format-standard hentry category-diplomacy-foreign-trade tag-abiy-ahmed tag-diplomacy-foreign-trade tag-enterpriseam tag-ethiopia tag-france tag-gerd tag-germany tag-housing-ministry tag-israel tag-jordan tag-middle-east tag-palestine tag-subsidies tag-sudan tag-trade tag-uae tag-world-bank 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> <strong>Shoukry talks MidEast peace with Jordan, France, Germany, UNRWA:<\/strong> Foreign Minister Sameh Shoukry discussed Middle East peace and the Palestine-Israel conflict in a four-way meeting with Jordan\u2019s King Abdullah II, French Foreign Minister Jean-Yves Le Drian and the EU\u2019s Special Representative for the Middle East Peace Process Susanna Terstal, according to a <a href=\"https:\/\/twitter.com\/ForeignMinistry\/status\/1309091624522321920\/photo\/3\">joint statement<\/a>. Shoukry also sat down for separate meetings with <a href=\"https:\/\/bit.ly\/3kSlmxk\">King Abdullah<\/a>, <a href=\"https:\/\/bit.ly\/36aGKty\">Le Drian<\/a>, and Commissioner-General of the United Nations Relief and Works Agency for Palestine Refugees, <a href=\"https:\/\/bit.ly\/3j6gQL0\">Philippe Lazzarini<\/a>.<\/p>\n<p>Meanwhile, <strong>Ethiopian Prime Minister Abiy Ahmed<\/strong> used his <a href=\"https:\/\/bit.ly\/2Gcy8rn\">virtual address to the UN<\/a><a href=\"https:\/\/bit.ly\/2Gcy8rn\">General Assembly<\/a> yesterday to reiterate that <strong>his country has \"no intention of harming\" Egypt or Sudan with its construction of the Grand Ethiopian Renaissance Dam<\/strong>, and that his government remains committed to finding a political solution.<\/p>\n<p><strong>Canadian Ambassador Jess Dutton proves <\/strong><strong><a href=\"https:\/\/twitter.com\/JessDutton1\/status\/1309082227507113985\">his Twitter game<\/a><\/strong><strong> is strong as he departs <\/strong><strong>Egypt<\/strong>, writing that \u201ca lot has changed since I was a backpacker [in Egypt 24 years ago], but the people are still the same, among the most friendly & welcoming in the world.\u201d<\/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\/abiy-ahmed\/\">Abiy Ahmed<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/diplomacy-foreign-trade\/\">Diplomacy + Foreign Trade<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/ethiopia\/\">Ethiopia<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/france\/\">France<\/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\/germany\/\">Germany<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/housing-ministry\/\">Housing Ministry<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/israel\/\">Israel<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/jordan\/\">Jordan<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/middle-east\/\">Middle East<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/palestine\/\">Palestine<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/subsidies\/\">subsidies<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/sudan\/\">Sudan<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/trade\/\">trade<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/uae\/\">UAE<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/world-bank\/\">World Bank<\/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=\"574926\" 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=\"574926\">\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\/27\/egypt-launches-campaign-to-promote-ecotourism\/\">\r\n                            Egypt launches campaign to promote ecotourism                        <\/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\/27\/egypt-launches-campaign-to-promote-ecotourism\/\" 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\/27\/egypt-launches-campaign-to-promote-ecotourism\/')\">\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\/27\/egypt-launches-campaign-to-promote-ecotourism\/\">\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 launches campaign to promote ecotourism&url=https:\/\/enterpriseam.com\/egypt\/2020\/09\/27\/egypt-launches-campaign-to-promote-ecotourism\/\">\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\/27\/egypt-launches-campaign-to-promote-ecotourism\/&title=Egypt launches campaign to promote ecotourism\">\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+launches+campaign+to+promote+ecotourism+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2020%2F09%2F27%2Fegypt-launches-campaign-to-promote-ecotourism%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\/27\/egypt-launches-campaign-to-promote-ecotourism\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-574926\" class=\"content-area-description single-story post-574926 post type-post status-publish format-standard hentry category-tourism tag-enterpriseam tag-environment-ministry tag-tourism tag-yasmine-fouad wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p>The Environment Ministry launched Egypt\u2019s first ecotourism campaign to protect the country\u2019s nature reserves, cabinet announced in <a href=\"https:\/\/bit.ly\/3322nKp\">a statement<\/a> on Friday. Dubbed ECO Egypt, the campaign will run for three years and promote 13 reserves, including Ras Mohamed, in its first phase. The ministry has committed to preserving the reserves\u2019 biodiversity while introducing them as eco-friendly tourism destinations.<\/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\/environment-ministry\/\">Environment Ministry<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/tourism\/\">tourism<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/yasmine-fouad\/\">Yasmine Fouad<\/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=\"574927\" 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=\"574927\">\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\">Real Estate + Housing<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2020\/09\/27\/uaes-city-creek-construction-to-invest-egp-600-mn-in-egypt-this-year\/\">\r\n                            UAE\u2019s City Creek Construction to invest EGP 600 mn in Egypt this year                        <\/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\/27\/uaes-city-creek-construction-to-invest-egp-600-mn-in-egypt-this-year\/\" 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\/27\/uaes-city-creek-construction-to-invest-egp-600-mn-in-egypt-this-year\/')\">\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\/27\/uaes-city-creek-construction-to-invest-egp-600-mn-in-egypt-this-year\/\">\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=UAE\u2019s City Creek Construction to invest EGP 600 mn in Egypt this year&url=https:\/\/enterpriseam.com\/egypt\/2020\/09\/27\/uaes-city-creek-construction-to-invest-egp-600-mn-in-egypt-this-year\/\">\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\/27\/uaes-city-creek-construction-to-invest-egp-600-mn-in-egypt-this-year\/&title=UAE\u2019s City Creek Construction to invest EGP 600 mn in Egypt this year\">\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=UAE%E2%80%99s+City+Creek+Construction+to+invest+EGP+600+mn+in+Egypt+this+year+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2020%2F09%2F27%2Fuaes-city-creek-construction-to-invest-egp-600-mn-in-egypt-this-year%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\/27\/uaes-city-creek-construction-to-invest-egp-600-mn-in-egypt-this-year\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-574927\" class=\"content-area-description single-story post-574927 post type-post status-publish format-standard hentry category-real-estate-housing tag-construction tag-enterpriseam tag-investment-watch tag-real-estate-housing tag-uae wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p>Emirati real estate developer City Creek Construction will establish an arm in Egypt and invest EGP 600 mn in three construction projects by the end of the year, <a href=\"https:\/\/bit.ly\/3kPqBgX\">Al Mal<\/a> reports, citing a legal consultant to the company. The company has purchased 6.2k sqkm of land in Tanta for a residential project, and is looking into buying land in New Cairo and the North Coast.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/construction\/\">construction<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/investment-watch\/\">investment watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/real-estate-housing\/\">Real Estate + Housing<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/uae\/\">UAE<\/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=\"574928\" 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=\"574928\">\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\">Automotive + Transportation<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2020\/09\/27\/mitsubishi-submits-eur-500-mn-bid-to-upgrade-maintain-metro-railcars\/\">\r\n                            Mitsubishi submits EUR 500 mn bid to upgrade, maintain metro railcars                        <\/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\/27\/mitsubishi-submits-eur-500-mn-bid-to-upgrade-maintain-metro-railcars\/\" 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\/27\/mitsubishi-submits-eur-500-mn-bid-to-upgrade-maintain-metro-railcars\/')\">\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\/27\/mitsubishi-submits-eur-500-mn-bid-to-upgrade-maintain-metro-railcars\/\">\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=Mitsubishi submits EUR 500 mn bid to upgrade, maintain metro railcars&url=https:\/\/enterpriseam.com\/egypt\/2020\/09\/27\/mitsubishi-submits-eur-500-mn-bid-to-upgrade-maintain-metro-railcars\/\">\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\/27\/mitsubishi-submits-eur-500-mn-bid-to-upgrade-maintain-metro-railcars\/&title=Mitsubishi submits EUR 500 mn bid to upgrade, maintain metro railcars\">\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=Mitsubishi+submits+EUR+500+mn+bid+to+upgrade%2C+maintain+metro+railcars+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2020%2F09%2F27%2Fmitsubishi-submits-eur-500-mn-bid-to-upgrade-maintain-metro-railcars%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\/27\/mitsubishi-submits-eur-500-mn-bid-to-upgrade-maintain-metro-railcars\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-574928\" class=\"content-area-description single-story post-574928 post type-post status-publish format-standard hentry category-automotive-transportation tag-automotive-transportation tag-enterpriseam tag-japan tag-mitsubishi tag-transport-ministry wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p>Japanese conglomerate Mitsubishi has submitted a EUR 500 mn offer in the tender to upgrade and maintain 58 railcars on the Helwan-El Marg and Shobra El Kheima-El Monib metro lines, <a href=\"https:\/\/bit.ly\/2G0m8Jy\">Al Mal<\/a> reports, citing unnamed sources familiar with the negotiations.<\/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-transportation\/\">Automotive + Transportation<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/japan\/\">Japan<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/mitsubishi\/\">Mitsubishi<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/transport-ministry\/\">Transport Ministry<\/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=\"574929\" 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=\"574929\">\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\">Banking + Finance<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2020\/09\/27\/whos-in-the-market-for-debt-faragalla-group-bpi\/\">\r\n                            Who\u2019s in the market for debt: Faragalla Group, BPI                        <\/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\/27\/whos-in-the-market-for-debt-faragalla-group-bpi\/\" 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\/27\/whos-in-the-market-for-debt-faragalla-group-bpi\/')\">\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\/27\/whos-in-the-market-for-debt-faragalla-group-bpi\/\">\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=Who\u2019s in the market for debt: Faragalla Group, BPI&url=https:\/\/enterpriseam.com\/egypt\/2020\/09\/27\/whos-in-the-market-for-debt-faragalla-group-bpi\/\">\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\/27\/whos-in-the-market-for-debt-faragalla-group-bpi\/&title=Who\u2019s in the market for debt: Faragalla Group, BPI\">\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=Who%E2%80%99s+in+the+market+for+debt%3A+Faragalla+Group%2C+BPI+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2020%2F09%2F27%2Fwhos-in-the-market-for-debt-faragalla-group-bpi%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\/27\/whos-in-the-market-for-debt-faragalla-group-bpi\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-574929\" class=\"content-area-description single-story post-574929 post type-post status-publish format-standard hentry category-banking-finance tag-arab-african-international-bank tag-arab-bank tag-arabian-cement tag-attijariwafa-bank tag-banking-finance tag-cib tag-ebrd tag-emirates-nbd tag-enterpriseam tag-faragalla-group tag-national-bank-of-egypt wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p>Faragalla Group is reportedly in the market for an EGP 2.05 bn syndicated facility being led by the National Bank of Egypt; the company will use the proceeds to finance working capital and restructure existing debts, <a href=\"https:\/\/bit.ly\/3i723hP\">Al Mal<\/a> reports. CIB, Arab Bank, AAIB, Attijariwafa Bank subsidiary Wafa Assurance, the United Bank of Egypt, Emirates NBD and QNB Alahli.<\/p>\n<p>Benchmark Power International (BPI) is reportedly in talks with the National Bank of Egypt (NBE) for an EGP 1.09 bn facility to to finance an ammonia plant, <a href=\"https:\/\/www.shorouknews.com\/news\/view.aspx?cdate=26092020&id=e9218fbb-0ed9-43e0-aa14-0afbabcf2cc1\">Al Shorouk<\/a> reports, citing unnamed sources close to the matter.<\/p>\n<p><em>CORRECTION- 27 September 2020\u00a0<\/em><\/p>\n<p><em>The original version of this entry carried a story from the local press that incorrectly said Arabian Cement is in talks with CIB and the European Bank for Reconstruction and Development for two loans totaling USD 280 mn.\u00a0<\/em><\/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\/arab-african-international-bank\/\">Arab African International Bank<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/arab-bank\/\">Arab Bank<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/arabian-cement\/\">Arabian Cement<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/attijariwafa-bank\/\">Attijariwafa Bank<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\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\/cib\/\">CIB<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/ebrd\/\">EBRD<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/emirates-nbd\/\">Emirates NBD<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/faragalla-group\/\">Faragalla Group<\/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=\"574930\" 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=\"574930\">\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\">Egypt Politics + Economics<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2020\/09\/27\/three-men-connected-to-fairmont-case-extradited-to-egypt\/\">\r\n                            Three men connected to Fairmont case extradited to Egypt                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2020\/09\/27\/three-men-connected-to-fairmont-case-extradited-to-egypt\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); navigator.clipboard.writeText('https:\/\/enterpriseam.com\/egypt\/2020\/09\/27\/three-men-connected-to-fairmont-case-extradited-to-egypt\/')\">\n                    Copy Link                <\/a>\n\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https:\/\/enterpriseam.com\/egypt\/2020\/09\/27\/three-men-connected-to-fairmont-case-extradited-to-egypt\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=Three men connected to Fairmont case extradited to Egypt&url=https:\/\/enterpriseam.com\/egypt\/2020\/09\/27\/three-men-connected-to-fairmont-case-extradited-to-egypt\/\">\n                    X                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/twitter-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/shareArticle?mini=true&url=https:\/\/enterpriseam.com\/egypt\/2020\/09\/27\/three-men-connected-to-fairmont-case-extradited-to-egypt\/&title=Three men connected to Fairmont case extradited to Egypt\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=Three+men+connected+to+Fairmont+case+extradited+to+Egypt+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2020%2F09%2F27%2Fthree-men-connected-to-fairmont-case-extradited-to-egypt%2F\">\n                    WhatsApp                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/whatsapp-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n        <\/ul>\n    <\/div>\n        <\/div>\r\n                    \r\n                <\/div>\r\n\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2020\/09\/27\/three-men-connected-to-fairmont-case-extradited-to-egypt\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-574930\" class=\"content-area-description single-story post-574930 post type-post status-publish format-standard hentry category-egypt-politics-economics tag-egypt-politics-economics tag-enterpriseam tag-fairmont-incident tag-lebanon wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p>The Public Prosecutor\u2019s Office yesterday ordered the four-day pretrial detention of three Egyptian men alleged to have attacked a woman at the Fairmont Nile City hotel in 2014, according to a <a href=\"https:\/\/bit.ly\/2RXV0NM\">statement<\/a>. The three men \u2014 Ahmed Helmy Ezzat Toulan, Amr Hussein Mahmoud Ismail and Khaled Hussein Mahmoud Ismail \u2014 <a href=\"https:\/\/bit.ly\/3i5K3V4\">were flown<\/a><a href=\"https:\/\/bit.ly\/3i5K3V4\">to Cairo<\/a> after being arrested in Beirut on Thursday.<\/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\/egypt-politics-economics\/\">Egypt Politics + Economics<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/fairmont-incident\/\">Fairmont Incident<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/lebanon\/\">Lebanon<\/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=\"574931\" 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=\"574931\">\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\/27\/comedian-el-montaser-bellah-passes-away-at-the-age-of-70\/\">\r\n                            Comedian El Montaser Bellah passes away at the age of 70                        <\/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\/27\/comedian-el-montaser-bellah-passes-away-at-the-age-of-70\/\" 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\/27\/comedian-el-montaser-bellah-passes-away-at-the-age-of-70\/')\">\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\/27\/comedian-el-montaser-bellah-passes-away-at-the-age-of-70\/\">\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=Comedian El Montaser Bellah passes away at the age of 70&url=https:\/\/enterpriseam.com\/egypt\/2020\/09\/27\/comedian-el-montaser-bellah-passes-away-at-the-age-of-70\/\">\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\/27\/comedian-el-montaser-bellah-passes-away-at-the-age-of-70\/&title=Comedian El Montaser Bellah passes away at the age of 70\">\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=Comedian+El+Montaser+Bellah+passes+away+at+the+age+of+70+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2020%2F09%2F27%2Fcomedian-el-montaser-bellah-passes-away-at-the-age-of-70%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\/27\/comedian-el-montaser-bellah-passes-away-at-the-age-of-70\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2020\/9\/284.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"574932\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2020\/09\/27\/comedian-el-montaser-bellah-passes-away-at-the-age-of-70\/284-jpg-12\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2020\/9\/284.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"284.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2020\/9\/284.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2020\/9\/284.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-574931\" class=\"content-area-description single-story post-574931 post type-post status-publish format-standard has-post-thumbnail hentry category-on-your-way-out tag-enterpriseam wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>Veteran comedic actor El Montaser Bellah has passed away at the age of 70<\/strong> in Alexandria hospital after a long struggle with illness, <a href=\"https:\/\/bit.ly\/3cyeQIY\">Masrawy<\/a> reports. Born in 1950, El Montaser Bellah began his acting career on stage with the Trio of Lights troupe, and has performed in a number of national classics, in both theatre and film, including Against the Government, Muhammad Ali Street, The Succubus Who Loved Me, and Arabesque.<\/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<section id=\"574933\" 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=\"574933\">\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\/27\/the-market-yesterday-176\/\">\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\/27\/the-market-yesterday-176\/\" 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\/27\/the-market-yesterday-176\/')\">\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\/27\/the-market-yesterday-176\/\">\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\/27\/the-market-yesterday-176\/\">\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\/27\/the-market-yesterday-176\/&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%2F27%2Fthe-market-yesterday-176%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\/27\/the-market-yesterday-176\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-574933\" class=\"content-area-description single-story post-574933 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 15.70 | Sell 15.80<\/p>\n<p> <strong>EGP \/ USD at CIB:<\/strong> Buy 15.71 | Sell 15.81<br \/>\n <strong>EGP \/ USD at NBE: <\/strong>Buy 15.70 | Sell 15.80<\/p>\n<p><strong>EGX30<\/strong> (Thursday): 10,911 (-0.6%)<br \/>\n <strong>Turnover:<\/strong> EGP 1.3 bn (16% above the 90-day average)<br \/>\n <strong>EGX 30 year-to-date<\/strong>: -21.9%<\/p>\n<p><strong>THE MARKET ON THURSDAY:<\/strong> The EGX30 ended Thursday\u2019s session down 0.6%. CIB, the index\u2019s heaviest constituent, ended down 0.1%. EGX30\u2019s top performing constituents were Sidi Kerir Petrochemicals up 1.7%, Dice up 1.7%, and Ezz Steel up 1.0%. Thursday\u2019s worst performing stocks were Orascom Investment Holding down 2.8%, GB Auto down 2.7% and TMG Holding down 2.6%. The market turnover was EGP 1.3 bn, and foreign investors were the sole net sellers.<\/p>\n<p><strong>Foreigners<\/strong>: Net short | EGP -134.4 mn<br \/>\n <strong>Regional<\/strong>: Net long | EGP +28.6 mn<br \/>\n <strong>Domestic<\/strong>: Net long | EGP +107.8 mn<\/p>\n<p><strong>Retail<\/strong>: 73.3% of total trades | 73.9% of buyers | 72.8% of sellers<br \/>\n <strong>Institutions<\/strong>: 26.7% of total trades | 26.1% of buyers | 27.2% of sellers<\/p>\n<p><strong>WTI:<\/strong> USD 40.25 (-0.15%)<br \/>\n <strong>Brent:<\/strong> USD 41.92 (-0.05%)<\/p>\n<p><strong>Natural Gas:<\/strong> (Nymex, futures prices) USD 2.14 MMBtu, (-4.85%, October 2020 contract)<br \/>\n <strong>Gold:<\/strong> USD 1,866.30 \/ troy ounce (-0.56%)<\/p>\n<p><strong>TASI:<\/strong> 8,236 (-0.10%) (YTD: -1.82%)<br \/>\n <strong>ADX:<\/strong> 4.466 (-0.52%) (YTD: -12.00%)<br \/>\n <strong>DFM:<\/strong> 2,252 (-1.45%) (YTD: -18.54%)<br \/>\n <strong>KSE Premier Market:<\/strong> 6,221 (-0.3%)<br \/>\n <strong>QE:<\/strong> 9,788 (+0.01%) (YTD: -6.11%)<br \/>\n <strong>MSM:<\/strong> 3,627 (+0.15%) (YTD: -8.90%)<br \/>\n <strong>BB: <\/strong>1,450 (-0.04%) (YTD: -9.92%)<\/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=\"574934\" 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\/27\/574934\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-574934\" class=\"content-area-description single-story post-574934 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>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>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, The Park, Mall of Arabia, 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>October: Trade and Industry Ministry allocates SMEs seven industrial complexes.<\/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 October (Thursday): <a href=\"https:\/\/bit.ly\/35Vq8G1\">Deadline<\/a> for students to transfer between schools.<\/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>10-17 October (Saturday-Saturday): CIB Egyptian Squash Open, New Giza Sporting Club \/ Pyramids of Giza<\/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>December: IMF delegation visits Egypt to in first of two reviews ahead of disbursement of second tranche of USD 5.2 bn SBA.<\/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>6-18 February (Saturday-Thursday): Mid-year school break.<\/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>24 June 2021 (Thursday): End of the 2020-2021 academic year.<\/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\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":574903,"menu_order":0,"template":"","categories":[],"tags":[],"class_list":["post-574902","issue","type-issue","status-publish","has-post-thumbnail","hentry","wpautop","entry"],"acf":{"mongo_id":"35d7f77f-ba08-4978-9036-5905d93e6bab","teaser":"","photo_url":"https:\/\/ent.news\/2020\/9\/274.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>What does the central bank\u2019s surprise 50 bps interest rate cut mean? - 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\" 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