{"id":574945,"date":"2020-09-28T04:00:58","date_gmt":"2020-09-28T04:00:58","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/?post_type=issue&#038;p=574945"},"modified":"2025-12-16T09:59:35","modified_gmt":"2025-12-16T09:59:35","slug":"green-bonds-soon-plus-el-sisi-inaugurates-erc-and-naguib-may-be-eyeing-united-bank","status":"publish","type":"issue","link":"https:\/\/enterpriseam.com\/egypt\/issues\/green-bonds-soon-plus-el-sisi-inaugurates-erc-and-naguib-may-be-eyeing-united-bank\/","title":{"rendered":"Green bonds soon? \r\n Plus: El Sisi inaugurates ERC and Naguib may be eyeing United Bank"},"content":{"rendered":"<section id=\"574947\" 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=\"574947\">\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\/28\/what-were-tracking-on-28-september-2020\/\">\r\n                            What we\u2019re tracking on 28 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\/28\/what-were-tracking-on-28-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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EK Holding\u2019s <strong>Haitham Abdel Moneim<\/strong>, meanwhile, was given the nod as best investor relations professional in Egypt. <a href=\"https:\/\/ent.news\/2020\/9\/2020-MEIRA-IR-Awards-List-of-Winners.pdf\">You can tap or click here to catch the full list of winners (pdf).<\/a><\/p><p><strong>KUDOS #2- The 2019 IPOs of Rameda and Fawry are on the short list for the International <\/strong><strong>Financial Law Review\u2019s \u201cequity transaction of the year\u201d <\/strong>in the Middle East, competing against Aramco\u2019s blockbuster listing. Rameda <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/300d1ac7-77ad-4477-9747-e1acf55da299\">went public<\/a> on the Egyptian Exchange late last year, while Fawry <a href=\"https:\/\/enterprise.press\/stories\/2019\/08\/14\/egypts-first-ipo-this-year-sees-shares-up-31-on-the-first-day-of-trading\/\">went out in late summer<\/a>. Nominees for Rameda include Matouk Bassiouny &amp; Hennawy, Al Tamimi, Clifford Chance and Norton Rose Fulbright. Meanwhile, Zaki Hashem &amp; Partners and Zulficar &amp; Partners share the nomination for Fawry.<\/p><p><strong>Also getting nods: Zaki Hashem and Matouk Bassiouny <\/strong>are nominated for their work on the <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/b48def4e-0680-4c6d-9bb6-03f99bd3a7f1\">acquisition<\/a> of diagnostics network Metamed from Gulf Capital by a consortium led by Mediterrania Capital Partners. <strong>Every lawyer and their pet beagle<\/strong> who touched a part of the Uber-Careem merger has gotten a nomination. <strong>Mahmoud Bassiouny <\/strong>is a finalist for managing partner of the year and <strong>EFG Hermes <\/strong>is on the list for in-house team of the year (investment banks).<\/p><p><strong>Short-listed for Egyptian law firm of the year: <\/strong>Zulficar &amp; Partners, Zaki Hashem &amp; Partners, Shalakany Law Firm, Sarie El Din &amp; Partners, Matouk Bassiouny &amp; Partners, Helmy Hamza &amp; Partners, Al Tamimi &amp; Company. <a href=\"https:\/\/www.iflr.com\/article\/b1n3wmd7wq0q6l\/iflr-middle-east-awards-2020-shortlist-revealed\">The full shortlist is online here for your viewing pleasure.<\/a><\/p><hr class=\"grey-line\"><p><strong>Egyptians abroad have <\/strong><strong><a href=\"https:\/\/bit.ly\/36jrJW2\">until 10 October<\/a><\/strong><strong> to register to vote in the upcoming parliamentary <\/strong><strong>elections.<\/strong> Expats from 14 governorates will go to the polls on 21-23 October in the first phase of voting while the remaining governorates will vote on 4-6 November. Voters abroad will need to register via the National Election Authority\u2019s (NEC) <a href=\"http:\/\/www.elections.eg\">website<\/a> to cast a ballot. Check out our calendar below for a reminder on which governorates vote when.<\/p><p><strong>The election authority released a preliminary list of candidates in the early hours of this <\/strong><strong>morning.<\/strong> Those who have failed to make the list have three days to appeal, before the Administrative Court deliberates for another three days. <strong>The final list of candidates will be announced on 5 October.<\/strong><\/p><p><strong>EFG Hermes\u2019 virtual investor conference is in its final stretch:<\/strong> The conference, where more than 650 institutional investors with aggregate AUM north of USD 17 tn with top listed companies are chewing over the prospects for frontier and emerging markets, is set to wrap this Thursday, 1 October. You can <a href=\"https:\/\/2ndvirtualconference.efghermes.com\/pages\/home.aspx\">visit the conference website here<\/a>.<\/p><hr class=\"grey-line\"><p><strong>The Health Ministry <\/strong><strong><a href=\"https:\/\/bit.ly\/343n0p1\">reported<\/a><\/strong><strong> 104 new covid-19 infections yesterday<\/strong>, down from 111 the day before. Egypt has now disclosed a total of 102,840 confirmed cases of covid-19. The ministry also reported 14 new deaths, bringing the country\u2019s total death toll to 5,883. We now have a total of 102,840 confirmed cases that have fully recovered.<\/p><p><strong>EgyptAir will resume direct flights from Cairo to Oman, Jordan, Rwanda, South Africa<\/strong> <strong>and Uganda next month<\/strong>, <a href=\"https:\/\/www.skynewsarabia.com\/business\/1379318-%D9%85%D8%B5%D8%B1-%D9%84%D9%84%D8%B7%D9%8A%D8%B1%D8%A7%D9%86-%D8%AA%D8%B3%D8%AA%D8%A7%D9%94%D9%86%D9%81-%D8%B1%D8%AD%D9%84%D8%A7%D8%AA%D9%87%D8%A7-%D9%84%D9%805-%D9%88%D8%AC%D9%87%D8%A7%D8%AA-%D8%AE%D8%A7%D8%B1%D8%AC%D9%8A%D8%A9\">Sky News Arabia<\/a> reports. A source at the national flag carrier said that it would start 2x weekly flights to Muscat on 1 October, 2x weekly flights to Amman from 4 October, one weekly flight to Kigali from 8 October, as well as two to Johannesburg and one to Entebbe from 9 October. There will also be three weekly flights between Alexandria and Dubai as of 9 October.<\/p><p><strong>The Czech Republic intends to restart direct flights to Egypt from 1 October<\/strong>, the country\u2019s ambassador to Egypt <a href=\"https:\/\/bit.ly\/2EGTIDW\">told<\/a> Tourism Minister Khaled El Enany.<\/p><p><strong>Americans will likely have to wait until 3Q2021 for any covid-19 vaccine to make a<\/strong> <strong>serious impact on the course of the pandemic<\/strong>, even if companies begin disbursing vaccines before the end of the year, the US\u2019 top virus expert Anthony Fauci said, according to <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2020-09-26\/early-covid-treatments-could-be-bridge-to-vaccine-fauci-says?srnd=premium-middle-east&amp;sref=mmeFTDW1\">Bloomberg<\/a>.<\/p><p><strong>Meanwhile, China has already begun administering three unproven covid-19 vaccines<\/strong> to government officials and those it considers to be essential workers, in spite of potential risks and unknown side-effects, <a href=\"https:\/\/www.nytimes.com\/2020\/09\/26\/business\/china-coronavirus-vaccine.html\">the New York Times<\/a> reports.<\/p><p><strong>Europe\u2019s offices and schools are inching back to business as usual \u2014 but<\/strong><strong> entertainment services still lag behind:<\/strong> Public transport use is on the rise across Europe as schools are reopening, allowing more parents to head back into offices more frequently. But footfall to leisure venues like movie theaters, bars, and hotels have taken yet another hit as covid-19 case numbers go up, putting a damper on earlier signs of a recovery in these industries, <a href=\"https:\/\/www.ft.com\/content\/7c015c3a-63fc-4b1f-bda0-70e6b8a99403\">the Financial Times<\/a> reports.<\/p><p class=\"web-image\"><a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2020-09-27\/emerging-markets-on-edge-as-goldman-and-deutsche-bank-flag-risks?srnd=premium-middle-east&amp;sref=mmeFTDW1\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2020\/9\/EM-volatility-Sept2020-1600px.jpg?ssl=1\" alt=\"enterprise\"><\/a><\/p><p><strong>Emerging-market investors are on edge as volatility rises:<\/strong> Developing-nation stocks, currencies and bonds come out of their worst week since the height of the pandemic in March, amid concerns over renewed lockdown measures and delays to further U.S. fiscal stimulus, <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2020-09-27\/emerging-markets-on-edge-as-goldman-and-deutsche-bank-flag-risks?srnd=premium-middle-east\">Bloomberg<\/a> reports. With investors braced for higher price swings around the US election in November, Deutsche Bank is taking a \u201cdefensive stance\u201d on EM debt amid a potential selloff in risky assets.<\/p><p><strong>Goldman Sachs has a favorite EM currency for the post-covid carry trade \u2014 and<\/strong><strong> it\u2019s not the EGP.<\/strong> The Mexican peso is the emerging-market currency to count on as the most attractive for the carry trade \u201conce the dust settles\u201d from the pandemic, Goldman Sachs analysts wrote in a research note picked by <a href=\"https:\/\/www.cnbc.com\/2020\/09\/25\/goldman-sachs-picks-the-em-currencies-to-back-when-the-dust-settles.html\">CNBC<\/a>. \u201cThe South African ZAR and Russian RUB were also named by the investment bank as EM currencies to watch.<\/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\/Somabay-27Sept-1600px.jpg?ssl=1\" alt=\"enterprise\"><\/a><\/p><p><strong>NMC enters administration in the UAE:<\/strong> Troubled Emirati healthcare firm NMC has been placed in administration, allowing it to meet September salaries by securing an additional USD 325 mn in funding, the <a href=\"https:\/\/www.ft.com\/content\/77255ff7-2132-4857-9498-27351ed2e6a4\">Financial Times<\/a> reports. The UAE\u2019s largest private healthcare provider was brought to the edge of collapse earlier this year after an internal investigation revealed evidence of fraudulent accounting involving USD 4-5 bn in undisclosed debt.<\/p><p><strong>Trump\u2019s TikTok ban blocked by US court \u2014 for now:<\/strong> A US judge has blocked the Trump administration\u2019s move to ban TikTok downloads from app stores, <a href=\"https:\/\/www.wsj.com\/articles\/tiktok-makes-its-case-for-last-minute-reprieve-from-u-s-download-ban-11601225594\">the Wall Street Journal<\/a> reports. The ruling gives Chinese parent ByteDance a few more weeks to secure approval from US regulators for its agreement with Oracle and Walmart that would see the two US companies take shares in a separate US-based entity.<\/p><hr class=\"grey-line\"><p><a id=\"tldr-story-06\" class=\"content-anchor\"><\/a> <strong>US ELECTION WATCH- The New York Times is out with a carefully-timed info <\/strong><strong>dump on Trump\u2019s secret tax affairs:<\/strong> Less than 48 hours before the first presidential debate, the <a href=\"https:\/\/www.nytimes.com\/interactive\/2020\/09\/27\/us\/donald-trump-taxes.html\">New York Times<\/a> has finally given the world a glimpse into what King Cheeto (Cheato?) has steadfastly refused to disclose: his tax affairs. Among the key takeaways: <strong>He paid zero taxes in 11 of 18 years examined; in 2016 and 2017 he paid only USD 750 <\/strong>(no, we\u2019re not missing a few zeros there); large losses in some of his signature businesses, notably his golf courses, have helped him lower his taxes; he enjoys tax deductions on what most would consider personal expenses \u2013 including residences, aircraft and over USD 70k in TV hairstyling \u2013 while enjoying a lavish lifestyle.<\/p><p><strong>True to character, Trump blasted the report as \u201ctotally fake news\u201d<\/strong> during a presser, <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2020-09-27\/trump-returns-show-he-paid-750-in-taxes-in-2016-2017-nyt?srnd=premium\">Bloomberg<\/a>reports.<\/p><p class=\"web-image\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2019\/11\/CIRA-Blackboard-Banner-B.jpg?ssl=1\" alt=\"enterprise\"><\/p><p><strong>*** It\u2019s Blackboard day:<\/strong> We have our weekly look at the business of education in Egypt, from pre-K through the highest reaches of higher ed. Blackboard appears every Monday in Enterprise in the place of our traditional industry news roundups.<\/p><p><strong>In today\u2019s issue:<\/strong> As an increasing number of Egyptians look to foreign universities, can Egypt\u2019s internationalization strategy persuade them to take another look at local institutions?<\/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\/carry-trade\/\">carry trade<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/china\/\">China<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/covid-19\/\">covid-19<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/emerging-markets\/\">emerging markets<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/europe\/\">Europe<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/goldman-sachs\/\">Goldman Sachs<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/opec\/\">OPEC<\/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=\"574948\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">      \r\n<section id=\"advertiser\" class=\"enterprise-adv issue-section\">\r\n    <div class=\"issue-section__content\" style=\"flex-direction: column;\">\r\n  \r\n                <h4 class=\"wp-block-heading has-text-align-center has-normal-font-size\">\r\n                <span class=\"has-primary-color stk-highlight\">This publication is proudly sponsored by<\/span><\/h4>\r\n                \r\n\r\n                \r\n                <div class=\"wp-block-stackable-carousel alignwide stk-block-carousel stk--is-slide stk--infinite-scroll stk--arrows-justify-space-between stk--arrows-align-center stk-block stk-a38cfb2 sponsor-slider-container mb-0\" data-slides-to-show=\"3\" data-block-id=\"a38cfb2\"><style>.stk-a38cfb2 {--slides-to-show:3 !important;}.stk-a38cfb2 .stk-block-carousel__button{background:#00000099 !important;fill:#FFFFFF !important;border-radius:4px !important;}.stk-a38cfb2 .stk-block-carousel__button 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   <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\/28\/the-inauguration-of-the-mostorod-petrochemical-complex-was-the-top-story-on-last-nights-talk-shows\/\">\r\n                            The inauguration of the Mostorod petrochemical complex was the top story on last night\u2019s talk shows                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a 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tag-export-subsidy-arrears tag-fuel tag-school-fees wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>The grand opening of the Egyptian Refinery Company\u2019s Mostorod petrochemical<\/strong> <strong>complex yesterday was the top story on the talk shows last night<\/strong>. Consumer protection, school fees and the auto market also got a look-in on a night that was otherwise dominated by the refinery.<\/p>\n<p><strong>Qalaa Holdings Chairman Ahmed Heikal took a victory lap last night<\/strong> as he celebrated keeping the USD 4.3 bn ERC on track through the global financial crisis, the 2011 revolution and the Morsi interregnum. Heikal spoke with Al Hayah Al Youm\u2019s Lobna Assal <a href=\"https:\/\/www.youtube.com\/watch?v=uEjq0IUImg0&t=260s\">(watch, runtime: 15:43)<\/a>, Masaa DMC\u2019s Eman El Hosary <a href=\"https:\/\/www.youtube.com\/watch?v=dBb9twkrwNA\">(watch: runtime: 8:19)<\/a>, El Hekaya\u2019s Amr Adib <a href=\"https:\/\/www.youtube.com\/watch?v=f_nJRRpat6w\">(watch, runtime: 3:20)<\/a>, and Salet Al-Tahrir\u2019s Azza Moustafa <a href=\"https:\/\/www.youtube.com\/watch?v=fDYlmJpijQE\">(watch, runtime: 3:18)<\/a> about the inauguration of the complex by President Abdel Fattah El Sisi. Among the takeaways:<\/p>\n<ul>\n<li><strong>A fair price for gas: <\/strong>Heikal called for a reduction of gas prices to USD 3.8-4 mmBtu for industry and said the inauguration of the refinery makes it clear there is a place in the economy for the private sector.<\/li>\n<li><strong>Heikal praised the Sisi administration\u2019s response to covid 19<\/strong>, singling out programs to cushion the economic and human impact of the pandemic by cutting interest rates, allocating EGP 100 bn to support the economy, and disbursing emergency payments to day laborers.<\/li>\n<li><strong>Qalaa scholarships: <\/strong>Heikal said that in addition to a large-scale program that sends students abroad for graduate degrees, Qalaa has 30 scholarships for outstanding high school students from Mostorod (the area in which ERC is based), sending them to universities such as the American University in Cairo, Nile University and Zewail City of Science and Technology.<\/li>\n<\/ul>\n<p><strong>A step toward energy independence: <\/strong>Assal also spoke with Medhat Youssef, the former deputy head of the state-run Egyptian General Petroleum Corporation, who noted that ERC will help Egypt sharply reduce its imports of refine petroleum products \u2014 and said there are plans to establish other refineries in areas similar Mostorod, which was home to an existing refinery that ships feedstock to ERC. He added that Egypt intends to reach self-sufficiency in diesel and be in a position to export gasoline and jet fuel by 2023 <a href=\"https:\/\/www.youtube.com\/watch?v=jKMKATmPGVE&t=6s\">(watch, runtime: 9:31)<\/a>.<\/p>\n<p><strong>Demand slump continues in car industry: <\/strong>Adib phoned Khaled Saad, the secretary general of the Automobile Association, who said that the car prices this year would be \u201cdifferent\u201d because of covid-19, without elaborating <a href=\"https:\/\/www.youtube.com\/watch?v=sdYLwT3R6ow\">(watch, runtime: 2:34)<\/a>. Saad stressed that there is currently low demand for new vehicles \u2014 but a pickup in demand for used cars <a href=\"https:\/\/www.youtube.com\/watch?v=aktWB9dqDwY\">(watch, runtime: 1:16)<\/a>.<\/p>\n<p><strong>Another person who popped up in several places yesterday was Consumer Protection<\/strong> <strong>Agency head Ahmed Samir Farag<\/strong>, who appeared on Al Hayah Al Youm <a href=\"https:\/\/www.youtube.com\/watch?v=IRaGRW08CQY\">(watch, runtime: 21:11)<\/a> and El Hekaya <a href=\"https:\/\/www.youtube.com\/watch?v=Xk01dX0_50s&t=43s\">(watch, runtime: 3:03)<\/a> to discuss the agency\u2019s work <a href=\"https:\/\/www.youtube.com\/watch?v=s8gAYRuq5FI&t=126s\">(watch, runtime: 3:39)<\/a> and the ongoing dispute over school fees. The agency will investigate parents\u2019 complaints over school fees at international and private schools in light of covid-related closures and amendments to curriculums, Farag said, adding that 75% of schools have so far refunded bus fees.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/ahmed-heikal\/\">Ahmed Heikal<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/car-prices\/\">car prices<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/egyptian-refinery-companys-mostorod-petrochemical-complex\/\">Egyptian Refinery Company\u2019s Mostorod petrochemical complex<\/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\/export-subsidy-arrears\/\">export subsidy arrears<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/fuel\/\">fuel<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/school-fees\/\">school fees<\/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=\"574951\" 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=\"574951\">\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\/28\/egyptian-refinery-companys-mostorod-petrochem-refinery-inaugurated\/\">\r\n                            Egyptian Refinery Company\u2019s Mostorod petrochem refinery inaugurated                        <\/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\/28\/egyptian-refinery-companys-mostorod-petrochem-refinery-inaugurated\/\" 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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As the largest private sector project of its kind in Africa, the refinery will produce each year some 2.3 mn tonnes of diesel fuel and 860k tonnes of high octane fuel as well as jet fuel and butane, Qalaa Chairman Ahmed Heikal said at the inauguration (<a href=\"https:\/\/www.youtube.com\/watch?v=kvR9Y63xGYs&feature=youtu.be\">watch, runtime: 11:03<\/a>). The facility is expected to result in a USD 600 mn-1 bn reduction to Egypt\u2019s annual import bill that had previously been earmarked for petroleum products that ERC is now producing, Heikal said. ERC became <a href=\"https:\/\/enterprise.press\/stories\/2019\/09\/15\/qalaa-declares-all-units-at-erc-are-a-go\/\">fully operational in September 2019<\/a> and, by using modern technologies, will help substantially lower Egypt\u2019s carbon and sulfur dioxide emissions.<\/p>\n<p><strong>You really should take a tour of ERC with Heikal<\/strong> \u2014 we had that pleasure just as the refinery was nearing completion, and the place is staggering. <strong><a href=\"https:\/\/youtu.be\/-bU9YX7ndpA\">You can watch a video Heikal produced (runtime: 6:52)<\/a><\/strong> with great drone footage in which he explains that the idea is to take \u201clow value products produced by the Cairo Oil Refining Company and turn them into high value distillates that the market currently needs.\u201d<\/p>\n<p><strong>Speaking at the inauguration, El Sisi lauded Qalaa and ERC for the project\u2019s contribution <\/strong><strong>to the economy<\/strong>, stressing the importance of private sector involvement in large-scale projects that spur growth.<\/p>\n<p><strong>El Sisi used the occasion to <\/strong><strong>promise<\/strong> <strong>he would extend an emergency stipend for day <\/strong><strong>labourers.<\/strong> The <a href=\"https:\/\/www.youtube.com\/watch?v=UCUifWP93Os\">EGP 500 monthly stipend<\/a> will run through the end of the year, El Sisi said (<a href=\"https:\/\/www.youtube.com\/watch?v=UCUifWP93Os\">watch, runtime: 2:46<\/a>). The government had first said in March it would dish out a one-time EGP 500 payment to seasonal workers as compensation for lost income from the pandemic, before deciding <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/27ec0299-b9cb-4e38-b0ac-85fe8a128122\">in April<\/a> to continue disbursing these payments for three months.<\/p>\n<p>Also from the president\u2019s speech yesterday:<\/p>\n<ul>\n<li><strong>El Sisi warned of a <\/strong><strong><a href=\"https:\/\/www.shorouknews.com\/news\/view.aspx?cdate=27092020&id=03798068-7cb2-49b3-ab2f-44cf103161b5\">potential covid-19 second wave<\/a><\/strong>, urging citizens to remain vigilant and avoid falling into a false sense of security.<\/li>\n<li><strong>He briefly took note of limited demonstrations last week<\/strong> and reiterated his call to citizens not to heed \u201cfalse claims\u201d (<a href=\"https:\/\/www.youtube.com\/watch?v=YF43D03HF_g\">watch, runtime 2:12<\/a>)<\/li>\n<li><strong>The president called on the government to resolve settlements of building code violations<\/strong>, end its<a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/ec8c2b4f-f425-443e-ad0a-82c4e82b1578\">six-month construction ban<\/a>, and announce new building criteria as quickly as possible.<\/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\/egyptian-refinery-company\/\">Egyptian Refinery Company<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/qalaa-holdings\/\">Qalaa Holdings<\/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=\"574962\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"574963\" 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=\"574963\">\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\/28\/cnn-features-photo-gallery-of-global-solar-mega-projects\/\">\r\n                            CNN features photo gallery of global solar mega-projects                        <\/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\/28\/cnn-features-photo-gallery-of-global-solar-mega-projects\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            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mega-projects&url=https:\/\/enterpriseam.com\/egypt\/2020\/09\/28\/cnn-features-photo-gallery-of-global-solar-mega-projects\/\">\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\/28\/cnn-features-photo-gallery-of-global-solar-mega-projects\/&title=CNN features photo gallery of global solar mega-projects\">\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=CNN+features+photo+gallery+of+global+solar+mega-projects+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2020%2F09%2F28%2Fcnn-features-photo-gallery-of-global-solar-mega-projects%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\/28\/cnn-features-photo-gallery-of-global-solar-mega-projects\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2020\/9\/296.png?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"574964\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2020\/09\/28\/cnn-features-photo-gallery-of-global-solar-mega-projects\/296-png-2\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2020\/9\/296.png?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"296.png\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2020\/9\/296.png?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2020\/9\/296.png?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-574963\" class=\"content-area-description single-story post-574963 post type-post status-publish format-standard has-post-thumbnail hentry category-image-of-the-day tag-enterpriseam tag-image-of-the-day tag-renewable-energy tag-renewables wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>Who knew solar parks could be so visually attractive?<\/strong> <a href=\"https:\/\/edition.cnn.com\/2019\/04\/24\/middleeast\/gallery\/global-solar-megaprojects\/index.html\">CNN<\/a> is out with a photo gallery of the world\u2019s biggest solar projects \u2014 including Egypt\u2019s massive Benban park (pictured above).<\/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\/image-of-the-day\/\">IMAGE OF THE DAY<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/renewable-energy\/\">renewable energy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/renewables\/\">renewables<\/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=\"574965\" 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=\"574965\">\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\/28\/egypt-in-the-news-on-28-september-2020\/\">\r\n                            Egypt in the News on 28 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\/28\/egypt-in-the-news-on-28-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\/28\/egypt-in-the-news-on-28-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\/28\/egypt-in-the-news-on-28-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 28 September 2020&url=https:\/\/enterpriseam.com\/egypt\/2020\/09\/28\/egypt-in-the-news-on-28-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\/28\/egypt-in-the-news-on-28-september-2020\/&title=Egypt in the News on 28 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+28+September+2020+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2020%2F09%2F28%2Fegypt-in-the-news-on-28-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\/28\/egypt-in-the-news-on-28-september-2020\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-574965\" class=\"content-area-description single-story post-574965 post type-post status-publish format-standard hentry category-egypt-in-the-news tag-covid-19 tag-cryptocurrency tag-egypt-in-the-news tag-enterpriseam tag-pandemic wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>There\u2019s not much going on in the pages of the foreign press this morning:<\/strong> <a href=\"https:\/\/apnews.com\/article\/virus-outbreak-dubai-united-arab-emirates-health-public-health-3940c8dfb38a5a5f300349a0f85abdb4\">The Associated<\/a><a href=\"https:\/\/apnews.com\/article\/virus-outbreak-dubai-united-arab-emirates-health-public-health-3940c8dfb38a5a5f300349a0f85abdb4\">Press<\/a> reports that Egyptians have been pushing ahead with their wedding plans despite the covid-19 ban.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/covid-19\/\">covid-19<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/cryptocurrency\/\">cryptocurrency<\/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\/pandemic\/\">pandemic<\/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=\"574966\" 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=\"574966\">\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\">Worth watching<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2020\/09\/28\/golds-relationship-with-the-stock-market-is-changing\/\">\r\n                            Gold\u2019s relationship with the stock market is changing                        <\/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\/28\/golds-relationship-with-the-stock-market-is-changing\/\" 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\/28\/golds-relationship-with-the-stock-market-is-changing\/')\">\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\/28\/golds-relationship-with-the-stock-market-is-changing\/\">\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\" 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href=\"https:\/\/api.whatsapp.com\/send?text=Gold%E2%80%99s+relationship+with+the+stock+market+is+changing+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2020%2F09%2F28%2Fgolds-relationship-with-the-stock-market-is-changing%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\/28\/golds-relationship-with-the-stock-market-is-changing\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2020\/9\/297.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"574967\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2020\/09\/28\/golds-relationship-with-the-stock-market-is-changing\/297-jpg-10\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2020\/9\/297.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"297.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2020\/9\/297.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2020\/9\/297.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-574966\" class=\"content-area-description single-story post-574966 post type-post status-publish format-standard has-post-thumbnail hentry category-worth-watching tag-capital-markets tag-enterpriseam tag-gold tag-inflation tag-us tag-worth-watching wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>Gold\u2019s relationship with the stock market is changing: <\/strong>Historically, gold prices and the performance of the US stock market have an inverse relationship \u2014 investors pile into the safe haven asset when markets decline, while a stock rally typically drives down the price of the metal. This traditional wisdom hasn\u2019t quite held true over the past few months, which have seen the stock market jump and fall without resulting in significant price shifts in gold. According to Bloomberg\u2019s QuickTake, gold needs more impetus to see its price rise, such as lasting inflation or a declining USD (<a href=\"https:\/\/bit.ly\/3mKbpU6\">watch, runtime: 01:03<\/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\/capital-markets\/\">capital markets<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/gold\/\">gold<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/inflation\/\">inflation<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/us\/\">US<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/worth-watching\/\">worth watching<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"574968\" 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=\"574968\">\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\">Diplomacy + Foreign Trade<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2020\/09\/28\/diplo-foreign-trade-on-28-september-2020\/\">\r\n                            Diplo + Foreign Trade on 28 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\/28\/diplo-foreign-trade-on-28-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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Mabrouk called for the release of detainees from the former government of Muammar Al Gaddafi, including his son Seif, so that they are able to participate in the inclusive discussions. The report did not specify whether representatives from the Tripoli-based Government of National Accord \u2014 which opposes the Egypt-backed eastern commander Khalifa Haftar \u2014 will attend the event. Egypt has been one of the countries leading efforts to end the conflict, <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/38833ec4-0b6c-42b6-8d9d-2d74307b8f57\">launching a parallel initiative to the UN-backed talks in June<\/a> dubbed the \u2018Cairo Declaration\u2019 that would see foreign mercenaries put down their weapons and leave the country.<\/p>\n<p><strong>Shoukry talks Libya, Palestine with Pompeo:<\/strong> Foreign Minister Sameh Shoukry discussed efforts to end the conflict in Libya and developments in Palestine with US Secretary of State Mike Pompeo during a phone call yesterday, the ministry said in a <a href=\"https:\/\/bit.ly\/3i9wCn9\">statement<\/a>, without giving much away.<\/p>\n<p><strong>There\u2019s export news aplenty:<\/strong> The General Organization for Import and Export Control is considering reducing fees for customs certificates, as well as easing the procedures to obtain permits, following a call by a group of exporters last week, the <a href=\"https:\/\/bit.ly\/3mWPucv\">local press<\/a> reports. The agency is planning to meet again in a week\u2019s time to discuss the proposals, the report adds.<\/p>\n<p><strong>The government will pay out before the end of the year overdue subsidies owed until the<\/strong><strong> end of September in a single lump sum<\/strong>, rather than spacing out the payments over four to five years, a Finance Ministry <a href=\"http:\/\/www.mof.gov.eg\/Arabic\/MOFNews\/Media\/Pages\/release-a1-27-9-2020.aspx\">statement<\/a> said on Sunday. Exporters <a href=\"https:\/\/bit.ly\/3jbIN4g\">last week agreed<\/a> to take a 15% haircut on their arrears as a condition of receiving the payouts this year. Exporters who choose to receive the full amount will be paid out under the original timeline.<\/p>\n<p>Also worth noting this morning:<\/p>\n<ul>\n<li><strong>The World Bank is out with an update on its USD 500 mn Sustainable Rural <\/strong><strong>Sanitation Services project in the Nile Delta<\/strong> <strong>launched in <\/strong><strong><a href=\"https:\/\/enterprise.press\/stories\/2015\/07\/30\/salman-says-60-of-investments-pledged-at-eedc-are-now-contracted\/#anchor4\">2015<\/a><\/strong>, which has helped one of the six local companies implementing the project increase its share of wastewater plants to 55% from 9% by improving maintenance management, according to a <a href=\"https:\/\/blogs.worldbank.org\/water\/egypt-program-tied-results-helps-water-and-sanitation-companies-provide-service-amid-covid-19\">press release<\/a>. In the coming period, the program will focus on implementing contracts to build household sanitation connections.<\/li>\n<li><strong>The US Department of Energy is allocating USD 1 mn to the International Atomic<\/strong> <strong>Energy Agency to improve radiation therapy<\/strong> used to treat Egyptian cancer patients, the State Department <a href=\"https:\/\/ent.news\/2020\/9\/PR-U.S.-funding-to-IAEA-Supports-Cancer-Treatment-in-Egypt.pdf\">said (pdf)<\/a> said on Wednesday.<\/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\/diplomacy-foreign-trade\/\">Diplomacy + Foreign Trade<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/libya\/\">Libya<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/mike-pompeo\/\">Mike Pompeo<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/sameh-shoukry\/\">Sameh Shoukry<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"574972\" 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=\"574972\">\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\">The Market Yesterday<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2020\/09\/28\/the-market-yesterday-177\/\">\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\/28\/the-market-yesterday-177\/\" 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\/28\/the-market-yesterday-177\/')\">\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\/28\/the-market-yesterday-177\/\">\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\/28\/the-market-yesterday-177\/\">\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\/28\/the-market-yesterday-177\/&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%2F28%2Fthe-market-yesterday-177%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\/28\/the-market-yesterday-177\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-574972\" class=\"content-area-description single-story post-574972 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> (Sunday): 10,902 (-0.1%)<br \/>\n <strong>Turnover:<\/strong> EGP 1 bn (11% below the 90-day average)<br \/>\n <strong>EGX 30 year-to-date<\/strong>: -21.9%<\/p>\n<p><strong>THE MARKET ON SUNDAY:<\/strong> The EGX30 ended Sunday\u2019s session down 0.1%. CIB, the index\u2019s heaviest constituent, ended down 0.1%. EGX30\u2019s top performing constituents were Qalaa Holdings up 5.2%, Dice up 3.9%, and Orascom Investment Holding up 3.8%. Yesterday\u2019s worst performing stocks were Eastern Company down 2.2%, CIRA down 2.2% and Cleopatra Hospitals down 1.6%. The market turnover was EGP 1 bn, and local investors were the sole net buyers.<\/p>\n<p><strong>Foreigners<\/strong>: Net short | EGP -24.0 mn<br \/>\n <strong>Regional<\/strong>: Net short | EGP -2.5 mn<br \/>\n <strong>Domestic<\/strong>: Net long | EGP +26.5 mn<\/p>\n<p><strong>Retail<\/strong>: 82.7% of total trades | 85.0% of buyers | 80.4% of sellers<br \/>\n <strong>Institutions<\/strong>: 17.3% of total trades | 15.0% of buyers | 19.6% of sellers<\/p>\n<p><strong>WTI: <\/strong>USD 40.25 (-0.15%)<\/p>\n<p><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)<\/p>\n<p><strong>Gold:<\/strong> USD 1,866.30 \/ troy ounce (-0.56%)<\/p>\n<p><strong>TASI:<\/strong> 8,293 (+0.70%) (YTD: -1.14%)<br \/>\n <strong>ADX:<\/strong> 4,485 (+0.43%) (YTD: -11.62%)<br \/>\n <strong>DFM:<\/strong> 2,244 (-0.32%) (YTD: -18.80%)<br \/>\n <strong>KSE Premier Market:<\/strong> 6,183 (-0.61%)<br \/>\n <strong>QE:<\/strong> 9,815 (+0.28%) (YTD: -5.85%)<br \/>\n <strong>MSM:<\/strong> 3,621 (-0.17%) (YTD: -9.05%)<br \/>\n <strong>BB: <\/strong>1,451 (+0.05%) (YTD: -9.88%)<\/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=\"574973\" 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\/28\/574973\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-574973\" class=\"content-area-description single-story post-574973 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":574946,"menu_order":0,"template":"","categories":[],"tags":[],"class_list":["post-574945","issue","type-issue","status-publish","has-post-thumbnail","hentry","wpautop","entry"],"acf":{"mongo_id":"baf828cf-4fe6-4f69-9c54-3e34fda91f74","teaser":"","photo_url":"https:\/\/ent.news\/2020\/9\/290.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>Green bonds soon?  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