{"id":575445,"date":"2020-10-15T04:18:09","date_gmt":"2020-10-15T04:18:09","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/?post_type=issue&#038;p=575445"},"modified":"2025-12-16T10:17:33","modified_gmt":"2025-12-16T10:17:33","slug":"imf-sees-a-swift-rebound-for-egypts-fiscal-position-post-covid","status":"publish","type":"issue","link":"https:\/\/enterpriseam.com\/egypt\/issues\/imf-sees-a-swift-rebound-for-egypts-fiscal-position-post-covid\/","title":{"rendered":"IMF sees a swift rebound for Egypt\u2019s fiscal position post-covid"},"content":{"rendered":"<section id=\"575447\" 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=\"575447\">\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\/10\/15\/what-were-tracking-on-15-october-2020\/\">\r\n                            What we\u2019re tracking on 15 October 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\/10\/15\/what-were-tracking-on-15-october-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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We have a stacked issue with which to end the week, so let\u2019s dive right in.<\/p><p><strong>But first, a quick programming note:<\/strong> Our popular Work From Home Routine column, which typically appears in our Thursday issues, is on hiatus this week but will be back next Thursday.<\/p><p><strong>PSA- The US Embassy has exchange programs for high schoolers and career<\/strong><strong> professionals<\/strong><strong>: <\/strong><\/p><ul>\n<li>The first is a scholarship program for high school students to spend up to one academic year in the United States under the <a href=\"https:\/\/egypt.afs.org\/kennedy-lugar-yes-2021-2022\/\">Kennedy-Lugar Youth Exchange &amp; Study program<\/a> (KL-YES). The program aims to help them develop leadership, problem-solving, language and intercultural skills.<\/li>\n<li>The second program \u2014 titled <a href=\"https:\/\/www.irex.org\/program\/community-solutions-program-application-information\">Community Solutions Program<\/a> (CSP) \u2014 targets career professionals working in issues such as environment, conflict resolution, and women and gender. Participants will spend a year in the US and attend a four-month fellowship at a US community-based organization, government office or legislative body.<\/li>\n<\/ul><p><strong>The deadline for applications for KL-YES is this coming Saturday, while the deadline for CSP is 28 October. <\/strong>For a list of all exchange programs you can check out the embassy\u2019s webpage <a href=\"https:\/\/eg.usembassy.gov\/education-culture\/exchange-opportunities\/\">here<\/a>.<\/p><hr class=\"grey-line\"><p><strong>The Health Ministry <\/strong><strong><a href=\"https:\/\/www.facebook.com\/egypt.mohp\/photos\/a.122315979319023\/231141518436468\/\">reported<\/a><\/strong><strong> 128 new covid-19 infections yesterday<\/strong>, down from 132 the day before. Egypt has now disclosed a total of 104,915 confirmed cases of covid-19. The ministry also reported 6 new deaths, bringing the country\u2019s total death toll to 6,077. We now have a total of 97,920 confirmed cases that have fully recovered.<\/p><p><strong>Developing countries are getting USD 12 bn in financing from the Word Bank to support their <\/strong><strong>fight against covid-19<\/strong>, the bank said in <a href=\"https:\/\/www.worldbank.org\/en\/news\/press-release\/2020\/10\/13\/world-bank-approves-12-billion-for-covid-19-vaccines\">a statement<\/a>. The funding is part of a larger USD 160 bn package, which will cover access to vaccines, tests, and other treatments for citizens of developing countries. The statement does not specify which countries are eligible for the funding.<\/p><p><strong>A further USD 25 bn in support to developing countries could also be in the<\/strong><strong> pipeline<\/strong> through the International Development Association, a World Bank arm that supports the poorest countries, World Bank President David Malpass said, according to <a href=\"https:\/\/www.reuters.com\/article\/us-imf-world-bank-malpass\/world-bank-to-propose-25-billion-in-extra-funding-for-poorest-countries-idUSKBN26Z2ES?il=0\">Reuters<\/a>.<\/p><p><strong>Air Arabia is resuming flights from the UAE\u2019s Ras Al Khaimah International Airport <\/strong><strong>to Cairo starting today<\/strong>, according to Emirates news agency <a href=\"https:\/\/www.wam.ae\/en\/details\/1395302877293\">WAM<\/a>.<\/p><p><strong>An unspecified safety concern has led <\/strong><strong><a href=\"https:\/\/www.lilly.com\/\">Eli Lilly &amp; Co<\/a><\/strong><strong> to pull the brakes on enrolling participants in a clinical trial of <\/strong><strong>its antibody treatment for covid-19<\/strong>, according to <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2020-10-13\/eli-lilly-virus-antibody-trial-paused-due-to-safety-concerns\">Bloomberg<\/a>. This comes a few days after <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/368c8138-8c5b-4070-92f7-d588d6a36a92\">Johnson &amp; Johnson was forced to put its vaccine trials on hold<\/a> after a participant became ill after taking the shot.<\/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\/10\/SOMA-ENTERPRISE2.jpg?ssl=1\" alt=\"enterprise\"><\/a><\/p><p><strong>Is austerity necessary to offset widening deficits from the pandemic?<\/strong> That depends on how easily each country can access international financial markets, the IMF said in its <a href=\"https:\/\/www.imf.org\/en\/Publications\/FM\/Issues\/2020\/09\/30\/october-2020-fiscal-monitor\">October Fiscal Monitor<\/a> yesterday. In an about face from its demands for austerity following the 2007-08 financial crisis, the fund\u2019s fiscal policy head, Vitor Gaspar, urged governments to maintain emergency support, particularly in health and education, until at least 2021 \u2014 even if that pushes debt levels higher. Although deficits are expected to surge by 9% in 2020 and global public debt forecast to hit a record high of 100% of GDP, deficits should return to pre-pandemic levels by the middle of the decade, indicating that high debt levels are not the most immediate risk.<\/p><p><strong>We have a rundown on how the IMF sees Egypt\u2019s public finances faring<\/strong> in this morning\u2019s Speed Round, below.<\/p><p><strong>Short-sellers are circling some of the best-performing shares during the pandemic<\/strong>, with some hedge fund managers now believing the strong earnings generated by health and grocery retail firms won\u2019t be sustained for much longer, according to <a href=\"https:\/\/www.ft.com\/content\/0a14e904-5fac-41bd-a9b4-a8a588db15c5\">the Financial Times<\/a>.<\/p><p><strong>Wall Street is still smiling: <\/strong>Goldman Sachs almost doubled profits to USD 3.6 bn in 3Q2020, up from USD 1.88 bn last year, according to an <a href=\"https:\/\/www.goldmansachs.com\/media-relations\/press-releases\/current\/pdfs\/2020-q3-results.pdf\">earnings release (pdf)<\/a>. This comes after JPMorgan and BlackRock reported <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/3892d5d2-d9e2-41aa-8bd9-a4d14b543cea\">strong 3Q earnings figures<\/a> on Tuesday.<\/p><p><strong>Are falling oil prices pushing Aramco towards a USD 10 bn stake sale in its pipeline <\/strong><strong>business?<\/strong> Saudi Aramco is in initial talks with BlackRock over a planned USD 10 bn agreement to sell a stake in its pipeline arm, sources close to the talks told <a href=\"https:\/\/www.reuters.com\/article\/us-saudi-aramco-blackrock-m-a\/saudi-aramco-and-blackrock-others-discussing-deal-worth-over-10-billion-sources-idUSKBN26Y215\">Reuters<\/a>. The sale would give the oil giant much-needed liquidity as Brent crude is still down 36% year-to-date and a USD 75 bn dividend payout looms ahead, the newswire notes. The news of the potential sale came as Saudi Crown Prince Mohammed bin Salman and Russian President Vladimir Putin put out a statement urging OPEC+ to stick to production cuts to shore up oil prices, <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2020-10-13\/saudi-crown-prince-and-russian-president-urge-opec-compliance?srnd=premium-middle-east&amp;sref=mmeFTDW1\">Bloomberg<\/a>reports.<\/p><p><strong>Covid has been awful for humanity but great for the planet:<\/strong> Global CO2 emissions fell by 8.8% during the first half of the year, at the same time global economic output <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/307c82aa-8655-4348-9cdd-bc0c68450f60\">took its worst hit in decades<\/a>, according to a study published in <a href=\"https:\/\/www.nature.com\/articles\/s41467-020-18922-7\">Nature Communications<\/a>. <strong>The downside?<\/strong> Global emissions are going right back up again as China powers full speed ahead through an economic recovery.<\/p><hr class=\"grey-line\"><p><strong>Google may be forced to sell its Chrome browser and parts of its advertising <\/strong><strong>business<\/strong> by US prosecutors in response to alleged antitrust violations, <a href=\"https:\/\/www.politico.com\/news\/2020\/10\/10\/feds-may-target-googles-chrome-browser-for-breakup-428468\">Politico<\/a> reports, citing three people familiar with the matter. A forced sale by the Department of Justice, which would come after an antitrust lawsuit that is expected to start in the coming weeks, would be the first break-up of a US company in decades, and mark a watershed moment for regulators looking to rein in the powerful tech monopolies. Chrome has the largest market share in the US, and Google has been accused of using access to web histories granted by the browser to aid its advertising business.<\/p><p class=\"web-image\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2020\/10\/1600-Mahmoud-Yassin.jpg?ssl=1\" alt=\"enterprise\"><\/p><p><strong>Egyptian actor Mahmoud Yassine passed away yesterday<\/strong> at the age of 79 after a long illness, his son <a href=\"https:\/\/bit.ly\/3jZ1Vm6\">announced on Facebook<\/a>. Yassin\u2019s 55-year career includes cinema classics such as the 1973 war film <a href=\"https:\/\/www.youtube.com\/watch?v=CpFKJEojRiI\">The Bullet is Still in my Pocket<\/a>(1974), and the political allegory <a href=\"https:\/\/www.youtube.com\/watch?v=56P_vxTE-2Y\">A Thing of Fear<\/a><em> <\/em>(1969), as well as numerous small screen roles that made him a household name.<\/p><p class=\"web-image\"><a href=\"https:\/\/bit.ly\/2H0BGNX\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2020\/10\/Ashraf-Sabry-Fawry-1600px.jpg?ssl=1\" alt=\"enterprise\"><\/a><\/p><p><a class=\"content-anchor\" id=\"tldr-story-07\"><\/a> <strong>It\u2019s Making It Day: <\/strong>A fresh episode of the third season of our podcast on building a great business in Egypt is out today.<\/p><p><strong>Ashraf Sabry, CEO of Fawry: <\/strong>When time came to build his own company after extensive corporate experience he had two driving motivators: he wanted to use technology to solve a problem and create a business model with a sustainable revenue stream.<\/p><p><strong>Fawry is ubiquitous in the world of Egyptian fintech: <\/strong>Launched in 2008 and backed by major investors, the Fawry platform now connects over 29 mn customers with over 850 bill payment services through 166k service points. Last year, the company <a href=\"https:\/\/enterprise.press\/stories\/2019\/07\/22\/egyptian-e-payments-platform-fawry-to-offer-36-of-its-shares-in-ipo\/\">debuted on the EGX<\/a> and became Egypt\u2019s first unicorn this year when its market capitalization surpassed USD 1 bn.<\/p><p><strong>Connecting the unbanked to the banking system <\/strong>is an integral part of financial inclusion \u2014 and Fawry plugs that gap. Beyond moving money from A to B and the convenience of being one of now many payment options, Fawry helps individuals and businesses who would otherwise struggle to meet minimum banking requirements access finance. It connects them to the banking system and brings them into the formal economy.<\/p><p><strong>Tap<\/strong><strong> or click here to listen to the episode on<\/strong> <a href=\"https:\/\/bit.ly\/2H0BGNX\">our website<\/a> | <a href=\"https:\/\/apple.co\/3jTjwvT\">Apple Podcast<\/a> | <a href=\"https:\/\/bit.ly\/3k07HUz\">Google Podcast<\/a> | <a href=\"https:\/\/bit.ly\/3nRZvs7\">Anghami<\/a> | <a href=\"https:\/\/bit.ly\/2H8GksT\">Omny<\/a>. We\u2019re also available on <a href=\"https:\/\/spoti.fi\/318pZMZ\">Spotify<\/a>, but only for non-MENA accounts. Subscribe to Making It on your podcatcher of choice <a href=\"https:\/\/bit.ly\/2Z4R015\">here<\/a>.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/antitrust\/\">antitrust<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/aviation\/\">aviation<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/covid-19\/\">covid-19<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/donald-trump\/\">Donald Trump<\/a>\n                <!-- <span 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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\/10\/15\/el-sisis-discussion-of-egypts-electricity-network-upgrades-leads-the-conversation-on-the-airwaves\/\">\r\n                            El Sisi\u2019s discussion of Egypt\u2019s electricity network upgrades leads the conversation on the airwaves                        <\/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 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entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>It was a rather insipid night on the airwaves<\/strong>, as the talking heads focused largely on recapping the news cycle without adding much by way of commentary.<\/p>\n<p><strong>Discussions on Egypt\u2019s electricity network upgrades<\/strong> during a meeting between President Abdel Fattah El Sisi, Prime Minister Moustafa Madbouly, and Electricity Minister Mohamed Shaker were of particular interest to the talking heads, with Al Hayah Al Youm\u2019s Lobna Assal (<a href=\"https:\/\/www.youtube.com\/watch?v=rru3JteE4t4\">watch, runtime: 1:58<\/a>), Yahduth Fi Misr\u2019s Sherif Amer (<a href=\"https:\/\/www.youtube.com\/watch?v=6XVOoMAslTQ\">watch, runtime: 1:30<\/a>), and Masaa DMC\u2019s Ramy (<a href=\"https:\/\/www.youtube.com\/watch?v=KC4PvN712Ro&t=49s\">watch, runtime: 3:35<\/a>) all taking note.<\/p>\n<p><strong>Libyan lawmakers\u2019 agreement to begin preparing for a permanent peace settlement to move out of the country\u2019s transitional period<\/strong> after three-day talks in Egypt was also on Assal\u2019s radar (<a href=\"https:\/\/www.youtube.com\/watch?v=0V8rb3H6x3k&t=1s\">watch, runtime: 2:28<\/a>). Our neighbors to the west agreed to host another round of talks in Egypt to reach a final, comprehensive political agreement.<\/p>\n<p><strong>Elsewhere, the Consumer Protection Agency\u2019s efforts to enforce the Consumer Protection Act on bakeries<\/strong> around the country was the main topic of conversation for authority head Ahmed Farag and Yahduth fi Misr\u2019s Sherif Amer (<a href=\"https:\/\/www.youtube.com\/watch?v=fSOpo2RV7e4\">watch, runtime: 3:07<\/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\/abdel-fattah-el-sisi\/\">Abdel Fattah El Sisi<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/consumer-protection-agency\/\">Consumer Protection Agency<\/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\/libya\/\">Libya<\/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=\"575450\" 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=\"575450\">\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\/10\/15\/govt-finances-to-see-swift-recovery-from-covid-hit-imf\/\">\r\n                            Gov\u2019t finances to see swift recovery from covid hit -IMF                        <\/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\/10\/15\/govt-finances-to-see-swift-recovery-from-covid-hit-imf\/\" 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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The deficit will then continue to gradually decline to reach 3.8% by FY2024-2025. The IMF attributes this to a comparatively muted fiscal response to the pandemic, caused by an already large debt pile exceeding 35% of GDP.<\/p>\n<p><strong>The report sees our primary balance just about remaining in a surplus this fiscal year<\/strong>, shrinking to 0.4% from 1.4% in FY2019-2020. This will then pick up, reaching 2.1% in FY2021-2022 until the middle of the decade. Egypt has so far achieved a small primary surplus of EGP 100 mn in 1Q2020-2021 despite ballooning spending needs due to the pandemic, Finance Minister Mohamed Maait said in <a href=\"https:\/\/bit.ly\/2SWnkk2\">yesterday\u2019s cabinet weekly meeting<\/a>.<\/p>\n<p><strong>On the flipside, projections for the current fiscal year seem to have worsened slightly<\/strong> since April, when the IMF predicted a budget deficit of 6.6% and a 1% primary surplus.<\/p>\n<p><strong>The government looks to reel in more revenues:<\/strong> The fund sees revenues inching up this fiscal year to 20% from 19.2% last fiscal year, then continue a slow but steady rebound through FY2024-2025. Revenues are being cushioned by the government\u2019s 1% tax on salaries, and a significant increase in borrowing, which has seen it receive <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/e4b88b68-45c9-4f66-bbba-1e8999ee8f3f\">USD 8 bn from the IMF<\/a>, a <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/000a6b27-901e-41be-895f-cf6ab6ee623f\">USD 2 bn loan<\/a> from foreign banks, while also generating revenue through a <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/925263b4-1bc7-4df7-bcdc-3335f83063f0\">USD 5 bn eurobond issuance<\/a> in May.<\/p>\n<p><strong>The IMF expects Egypt to tighten its purse strings as of the next fiscal year<\/strong>, when spending is projected to dip to 25.4% of GDP from 28.1% in the current fiscal year.<\/p>\n<p><strong>Yesterday\u2019s report came on the heels of the IMF\u2019s <\/strong><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/307c82aa-8655-4348-9cdd-bc0c68450f60\">World Economic Outlook<\/a><\/strong><strong>. <\/strong>Amid an overarching tone of uncertainty, Egypt came out of the report relatively unscathed, with the fund upgrading its 2020 GDP forecast to 3.5% from the 2% in June. On the other hand, the IMF expects the country\u2019s account deficit to widen to 4.2% of GDP in 2021 from 3.2% this year, and listed Egypt among several countries that are particularly vulnerable to a decline in remittance flows.<\/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\/fiscal-policy\/\">fiscal policy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/imf\/\">IMF<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/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=\"575468\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"575469\" 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=\"575469\">\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\">THE MACRO PICTURE<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2020\/10\/15\/global-central-banks-are-laying-the-foundations-for-a-digital-currency-revolution\/\">\r\n                            Global central banks are laying the foundations for a digital currency revolution                        <\/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\/10\/15\/global-central-banks-are-laying-the-foundations-for-a-digital-currency-revolution\/\" 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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Facebook\u2019s ambitions to launch its stablecoin, Libra, has placed <a href=\"https:\/\/enterprise.press\/stories\/2019\/10\/22\/digital-currencies-are-now-on-the-agenda-for-many-central-banks\/\">central banks in a quandary<\/a> about how to prevent private digital currencies from superseding government-issued monies, and how to introduce them without <a href=\"https:\/\/enterprise.press\/stories\/2019\/12\/31\/what-impact-would-a-central-bank-cryptocurrency-have-on-our-global-banking-system-9423\/\">undermining financial stability<\/a> and facilitating cross-border crime.<\/p>\n<p><strong>What are the key risks?<\/strong> Existing national legislation does not fully cover global stablecoins, and their widespread use risks destabilizing exchange rates and might expose financial institutions to adverse confidence effects if they are seen as a more reliable store of value than state-issued currencies, the FSB said. Meanwhile, central bank-backed currencies risk increasing the reliance on payment systems and data storage capacity beyond the control of domestic institutions, and provoking runs into central bank currency, the BIS said.<\/p>\n<p><strong>How can regulators overcome them?<\/strong> The FSB recommends that authorities put in place a comprehensive governance framework that entails cross-border cooperation, and ensure that stablecoin issuers include effective risk management and robust data security capabilities. It also urged further reviews of how existing regulations are being implemented, which will be completed by July 2023, as well as a review of whether the new regulations are doing enough to prevent money laundering, which will be done in December 2021.<\/p>\n<p><strong>We\u2019re rapidly moving into an era of digital currencies:<\/strong> China, which is planning to be the first nation to issue a digital currency, <a href=\"https:\/\/www.bbc.com\/news\/business-54519326\">has just begun trialling its digital yuan in Shenzhen<\/a> ahead of a possible nationwide roll-out later this year. Sweden started <a href=\"https:\/\/www.reuters.com\/article\/us-cenbank-digital-sweden-idUSKBN20E26G\">testing its e-krona<\/a> in February, Russia has announced it is <a href=\"https:\/\/bit.ly\/3jVIQkY\">considering launching a digitized ruble<\/a>, and the European Central Bank is <a href=\"https:\/\/markets.businessinsider.com\/news\/stocks\/ecb-euro-digital-currency-lagarde-2020-10-1029670309#\">floating the idea of a digital Euro<\/a>, with President Christine Lagarde saying the digital euro would supplement, not replace cash. The Central Bank of Egypt is also said to be<a href=\"https:\/\/enterprise.press\/stories\/2018\/12\/19\/cbe-looking-into-issuing-digital-currency\/\">mulling its own cryptocurrency.<\/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\/bank-of-international-settlements\/\">Bank of International Settlements<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/digital-currency\/\">Digital currency<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/the-macro-picture\/\">THE MACRO PICTURE<\/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=\"575471\" 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=\"575471\">\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\/10\/15\/egypt-in-the-news-on-15-october-2020\/\">\r\n                            Egypt in the News on 15 October 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\/10\/15\/egypt-in-the-news-on-15-october-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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Elsewhere, the <a href=\"https:\/\/cpj.org\/2020\/10\/egyptian-security-forces-detain-brother-of-darb-editor-khaled-el-balshy\/\">Committee to Protect Journalists<\/a> is calling for the release of Kamal El Balshy \u2014 whose brother Khaled is already in detention.<\/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\/committee-to-protect-journalists\/\">Committee to Protect Journalists<\/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\/human-rights\/\">human rights<\/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=\"575472\" 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=\"575472\">\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\/10\/15\/diplomacy-foreign-trade-on-15-october-2020\/\">\r\n                            Diplomacy + Foreign Trade on 15 October 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\/10\/15\/diplomacy-foreign-trade-on-15-october-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\/10\/15\/diplomacy-foreign-trade-on-15-october-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\/10\/15\/diplomacy-foreign-trade-on-15-october-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 15 October 2020&url=https:\/\/enterpriseam.com\/egypt\/2020\/10\/15\/diplomacy-foreign-trade-on-15-october-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\/10\/15\/diplomacy-foreign-trade-on-15-october-2020\/&title=Diplomacy + Foreign Trade on 15 October 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+15+October+2020+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2020%2F10%2F15%2Fdiplomacy-foreign-trade-on-15-october-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\/10\/15\/diplomacy-foreign-trade-on-15-october-2020\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-575472\" class=\"content-area-description single-story post-575472 post type-post status-publish format-standard hentry category-diplomacy-foreign-trade tag-commodities tag-covid-19 tag-cyril-ramaphosa tag-diplomacy tag-diplomacy-foreign-trade tag-energy tag-enterpriseam tag-food-security tag-iraq tag-jordan tag-nile-basin tag-oil-and-gas tag-pandemic tag-sameh-shoukry tag-south-africa tag-turkey tag-wheat 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> President Abdel Fattah El Sisi discussed with South African President Cyril Ramaphosa the latest developments of the Grand Ethiopian Renaissance Dam talks with Ethiopia and Sudan, <a href=\"https:\/\/bit.ly\/2GZymlX\">Ittihadiya said<\/a>, without disclosing any details on the conversation. South Africa, which is mediating the dispute as the current chair of the African Union, is still reviewing Egypt, Ethiopia, and Sudan\u2019s reports on their last round of meetings, but the three countries are in talks on sticking issues, Irrigation Ministry spokesperson Mohamed El Sibai <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/68d93942-a92d-4389-9ebf-9d914fc5a6e0\">said this week<\/a>.<\/p>\n<p><strong>Egypt could be part of a revived oil pipeline project linking it to Iraq and Jordan<\/strong>, <a href=\"https:\/\/alkhaleejtoday.co\/international\/5087522\/Iraq-Jordan-and-Egypt-in-talks-on-reviving-oil-pipeline-project.html\">AlKhaleej<\/a><a href=\"https:\/\/alkhaleejtoday.co\/international\/5087522\/Iraq-Jordan-and-Egypt-in-talks-on-reviving-oil-pipeline-project.html\">Today<\/a> quoted Jordanian Foreign Minister Ayman Safadi as saying. Jordan and OPEC member Iraq were planning under a 2013 agreement to construct a pipeline between Aqaba and Basra, but the project was never completed. The two countries renewed their agreement this year and stretched plans to Egypt.<\/p>\n<p><strong>Meanwhile, on the foreign trade front, fears of a second wave are spurring more wheat imports: <\/strong>Egypt imported over 3.5 mn tonnes of wheat since the beginning of FY2020-2021, with the current quarter seeing a 64% increase compared to the same period last year as the country braces for a second wave of covid-19, advisor to the Supply Minister Nomani Nasr Nomani told <a href=\"https:\/\/alborsaanews.com\/2020\/10\/13\/1390232\">the local press<\/a>. Current reserves should last six-and-a-half months until the start of the next local wheat season in mid-April 2021, he said, adding this will be supplemented with more imports.<\/p>\n<p><strong>Frozen fava beans will be exempt from a Trade Ministry ban on the export of beans and<\/strong><strong> legumes<\/strong> according to a decision seen by <a href=\"https:\/\/bit.ly\/3lHFUIZ\">Al Mal<\/a>. The exemption came in response to industry lobbying efforts after the ministry decided <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/4140af4f-e5aa-4842-9ab6-c9e64ab097ca\">last week<\/a> to keep the ban, which was originally introduced in March and renewed in June to shore up food security in the early days of covid-19, in place for three additional months.<\/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\/covid-19\/\">covid-19<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/cyril-ramaphosa\/\">Cyril Ramaphosa<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/diplomacy\/\">DIPLOMACY<\/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\/energy\/\">energy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/food-security\/\">food security<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/iraq\/\">Iraq<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/jordan\/\">Jordan<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/nile-basin\/\">Nile Basin<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/oil-and-gas\/\">oil and gas<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/pandemic\/\">pandemic<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/sameh-shoukry\/\">Sameh Shoukry<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/south-africa\/\">South Africa<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/turkey\/\">Turkey<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/wheat\/\">wheat<\/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=\"575473\" 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=\"575473\">\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\">Energy<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2020\/10\/15\/agiba-to-raise-investments-drilling-and-exploration-investments-by-50-in-2021\/\">\r\n                            Agiba to raise investments drilling and exploration investments by 50% in 2021                        <\/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   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                  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=Agiba to raise investments drilling and exploration investments by 50% in 2021&url=https:\/\/enterpriseam.com\/egypt\/2020\/10\/15\/agiba-to-raise-investments-drilling-and-exploration-investments-by-50-in-2021\/\">\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\/10\/15\/agiba-to-raise-investments-drilling-and-exploration-investments-by-50-in-2021\/&title=Agiba to raise investments drilling and exploration investments by 50% in 2021\">\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=Agiba+to+raise+investments+drilling+and+exploration+investments+by+50%25+in+2021+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2020%2F10%2F15%2Fagiba-to-raise-investments-drilling-and-exploration-investments-by-50-in-2021%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\/10\/15\/agiba-to-raise-investments-drilling-and-exploration-investments-by-50-in-2021\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-575473\" class=\"content-area-description single-story post-575473 post type-post status-publish format-standard hentry category-energy tag-egyptian-general-petroleum-corporation tag-energy tag-eni tag-enterpriseam wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p>Eni-EGPC JV Agiba will increase investments in well exploration and production by 50% next year, <a href=\"https:\/\/bit.ly\/3jWNoHG\">Al Mal<\/a> reports, citing an unnamed Egyptian General Petroleum Corporation (EGPC) official. \"With the start of life returning to normal again, and the improvement in global oil prices, the injection of research and exploration investments will be expanded,\" the official said. The company plans to drill 60 new exploratory wells and increase production rates to 50k barrels per day 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\/egyptian-general-petroleum-corporation\/\">Egyptian General Petroleum Corporation<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/energy\/\">energy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/eni\/\">Eni<\/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=\"575475\" 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=\"575475\">\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\">Manufacturing<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2020\/10\/15\/lg-to-export-70-of-its-egypt-made-products\/\">\r\n                            LG to export 70% of its Egypt-made products                        <\/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\/10\/15\/lg-to-export-70-of-its-egypt-made-products\/\" 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\/10\/15\/lg-to-export-70-of-its-egypt-made-products\/')\">\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\/10\/15\/lg-to-export-70-of-its-egypt-made-products\/\">\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=LG to export 70% of its Egypt-made products&url=https:\/\/enterpriseam.com\/egypt\/2020\/10\/15\/lg-to-export-70-of-its-egypt-made-products\/\">\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\/10\/15\/lg-to-export-70-of-its-egypt-made-products\/&title=LG to export 70% of its Egypt-made products\">\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=LG+to+export+70%25+of+its+Egypt-made+products+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2020%2F10%2F15%2Flg-to-export-70-of-its-egypt-made-products%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\/10\/15\/lg-to-export-70-of-its-egypt-made-products\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-575475\" class=\"content-area-description single-story post-575475 post type-post status-publish format-standard hentry category-manufacturing tag-enterpriseam tag-lg tag-manufacturing wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p>]Consumer electronics giant LG is planning on exporting over 70% of its Egypt-made washing machines and TVs over the coming years, CEO Billy Kim said in a press conference, without providing an exact timeline, according to <a href=\"https:\/\/dailynewsegypt.com\/2020\/10\/12\/lg-aims-to-export-70-of-its-egypt-manufactured-products\/\">the local press<\/a>. LG has invested USD 50 mn in its Egyptian production lines and plans to increase investments to manufacture OLED TVs.<\/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\/lg\/\">LG<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/manufacturing\/\">Manufacturing<\/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=\"575476\" 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=\"575476\">\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\">Health + Education<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2020\/10\/15\/gems-in-talks-with-six-schools-to-provide-access-to-its-new-online-learning-platform\/\">\r\n                            GEMS in talks with six schools to provide access to its new online learning platform                        <\/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\/10\/15\/gems-in-talks-with-six-schools-to-provide-access-to-its-new-online-learning-platform\/\" 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\/10\/15\/gems-in-talks-with-six-schools-to-provide-access-to-its-new-online-learning-platform\/')\">\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\/10\/15\/gems-in-talks-with-six-schools-to-provide-access-to-its-new-online-learning-platform\/\">\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=GEMS in talks with six schools to provide access to its new online learning platform&url=https:\/\/enterpriseam.com\/egypt\/2020\/10\/15\/gems-in-talks-with-six-schools-to-provide-access-to-its-new-online-learning-platform\/\">\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\/10\/15\/gems-in-talks-with-six-schools-to-provide-access-to-its-new-online-learning-platform\/&title=GEMS in talks with six schools to provide access to its new online learning platform\">\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=GEMS+in+talks+with+six+schools+to+provide+access+to+its+new+online+learning+platform+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2020%2F10%2F15%2Fgems-in-talks-with-six-schools-to-provide-access-to-its-new-online-learning-platform%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\/10\/15\/gems-in-talks-with-six-schools-to-provide-access-to-its-new-online-learning-platform\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-575476\" class=\"content-area-description single-story post-575476 post type-post status-publish format-standard hentry category-health-education tag-education tag-enterpriseam tag-gems tag-health-education wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p>Private sector education outfit GEMS is in talks with six schools to provide licensing agreements for its distance learning platform, Phoenix, CEO Ahmed Wahby told <a href=\"https:\/\/alborsaanews.com\/2020\/10\/14\/1390713\">the local press<\/a>. The system facilitates school administrators\u2019 online instruction efforts and student management through a unified platform. GEMS has so far signed an agreement to provide services to one unnamed institution, while talks are still on going with other interested parties.<\/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\/education\/\">Education<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/gems\/\">GEMS<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/health-education\/\">Health + Education<\/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=\"575477\" 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=\"575477\">\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\">Real Estate + Housing<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2020\/10\/15\/la-verde-developments-to-invest-egp-1-bn-in-new-capital-project\/\">\r\n                            La Verde Developments to invest EGP 1 bn in new capital project                        <\/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\/10\/15\/la-verde-developments-to-invest-egp-1-bn-in-new-capital-project\/\" 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\/10\/15\/la-verde-developments-to-invest-egp-1-bn-in-new-capital-project\/')\">\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\/10\/15\/la-verde-developments-to-invest-egp-1-bn-in-new-capital-project\/\">\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=La Verde Developments to invest EGP 1 bn in new capital project&url=https:\/\/enterpriseam.com\/egypt\/2020\/10\/15\/la-verde-developments-to-invest-egp-1-bn-in-new-capital-project\/\">\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\/10\/15\/la-verde-developments-to-invest-egp-1-bn-in-new-capital-project\/&title=La Verde Developments to invest EGP 1 bn in new capital project\">\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=La+Verde+Developments+to+invest+EGP+1+bn+in+new+capital+project+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2020%2F10%2F15%2Fla-verde-developments-to-invest-egp-1-bn-in-new-capital-project%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\/10\/15\/la-verde-developments-to-invest-egp-1-bn-in-new-capital-project\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-575477\" class=\"content-area-description single-story post-575477 post type-post status-publish format-standard hentry category-real-estate-housing tag-enterpriseam tag-new-administrative-capital tag-real-estate tag-real-estate-housing wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><a href=\"https:\/\/laverde-eg.com\/\">La Verde Developments<\/a> will invest EGP 1 bn over the next year to fund the construction of its real estate projects in the new administrative capital and pay off some of the installments on the land allocated for the project, Chairman Ibrahim Lashin told <a href=\"https:\/\/alborsaanews.com\/2020\/10\/13\/1390211\">the local press<\/a>. The company has plans to invest an additional EGP 2 bn for a second project under the name La Verde Cassette, bringing their total investments in the new capital to EGP 5 bn.<\/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\/new-administrative-capital\/\">new administrative capital<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/real-estate\/\">real estate<\/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                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"575479\" 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=\"575479\">\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\">Banking + Finance<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2020\/10\/15\/whos-in-the-market-for-debt-egylease-porto-group\/\">\r\n                            Who\u2019s in the market for debt? EgyLease + Porto Group                        <\/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\/10\/15\/whos-in-the-market-for-debt-egylease-porto-group\/\" 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\/10\/15\/whos-in-the-market-for-debt-egylease-porto-group\/')\">\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\/10\/15\/whos-in-the-market-for-debt-egylease-porto-group\/\">\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? EgyLease + Porto Group&url=https:\/\/enterpriseam.com\/egypt\/2020\/10\/15\/whos-in-the-market-for-debt-egylease-porto-group\/\">\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\/10\/15\/whos-in-the-market-for-debt-egylease-porto-group\/&title=Who\u2019s in the market for debt? EgyLease + Porto Group\">\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%3F+EgyLease+%2B+Porto+Group+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2020%2F10%2F15%2Fwhos-in-the-market-for-debt-egylease-porto-group%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\/10\/15\/whos-in-the-market-for-debt-egylease-porto-group\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-575479\" class=\"content-area-description single-story post-575479 post type-post status-publish format-standard hentry category-banking-finance tag-banking-finance tag-debt tag-enterpriseam tag-leasing tag-national-bank-of-egypt wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p>Financial leasing company <a href=\"http:\/\/egylease.co\/about-us.aspx\">EgyLease<\/a> is in talks for an EGP 200 mn loan from the National Bank of Egypt to expand its portfolio, Chairman Iman Ismail told <a href=\"https:\/\/bit.ly\/3jXutwB\">Al Mal<\/a>. The company is also negotiating loan agreements with United Bank and Ahli United Bank, he said, adding the amounts have not been decided. EgyLease had been in <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/aa9eb17d-44de-4e7e-aba1-fda71366cc2b\">talks with Banque Misr<\/a>for an EGP 400 mn loan last month, the outcome of which has not been made public.<\/p>\n<p>Meanwhile, Porto Group subsidiary Porto 6 October for Touristic Development has signed a EGP 500 mn sharia-compliant loan agreement with Banque Misr, company Co-Chairman <a href=\"https:\/\/alborsaanews.com\/2020\/10\/14\/1391184\">Ayman bin Khalifa said<\/a>. The proceeds aim to speed up work at the 1.38 mn sqm Porto October project west of Cairo.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/banking-finance\/\">BANKING + FINANCE<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/debt\/\">debt<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/leasing\/\">leasing<\/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=\"575482\" 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=\"575482\">\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\">Sports<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2020\/10\/15\/egyptian-women-squash-players-reach-cib-open-semis\/\">\r\n                            Egyptian women squash players reach CIB Open semis                        <\/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\/10\/15\/egyptian-women-squash-players-reach-cib-open-semis\/\" 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\/10\/15\/egyptian-women-squash-players-reach-cib-open-semis\/')\">\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\/10\/15\/egyptian-women-squash-players-reach-cib-open-semis\/\">\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=Egyptian women squash players reach CIB Open semis&url=https:\/\/enterpriseam.com\/egypt\/2020\/10\/15\/egyptian-women-squash-players-reach-cib-open-semis\/\">\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\/10\/15\/egyptian-women-squash-players-reach-cib-open-semis\/&title=Egyptian women squash players reach CIB Open semis\">\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=Egyptian+women+squash+players+reach+CIB+Open+semis+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2020%2F10%2F15%2Fegyptian-women-squash-players-reach-cib-open-semis%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\/10\/15\/egyptian-women-squash-players-reach-cib-open-semis\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-575482\" class=\"content-area-description single-story post-575482 post type-post status-publish format-standard hentry category-_newspack_sports tag-enterpriseam tag-sports wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p>Egypt\u2019s Nouran Gohar and Hania El Hammamy have secured their spots in the semi-final round of the CIB Egyptian Squash Open, according to <a href=\"https:\/\/www.psaworldtour.com\/news\/view\/7929\/cib-egyptian-open-qfs-gohar-terminates-gilis-to-reach-last-four\">PSA World Tour<\/a>. Nour El Sherbini and Nour El Tayeb, meanwhile, are each playing a quarter-final match today. The semi-finals games are scheduled for Friday, with the final set to be played on Saturday.<\/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\/sports\/\">sports<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"575483\" 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=\"575483\">\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\">ON YOUR WAY OUT<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2020\/10\/15\/how-much-tax-should-you-pay-on-egx-transactions\/\">\r\n                            How much tax should you pay on EGX transactions?                        <\/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\/10\/15\/how-much-tax-should-you-pay-on-egx-transactions\/\" 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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The amendments set a stamp tax rate on EGX trades of 0.125% for foreign investors and 0.05% for residents, both of which were previously set at 0.15%.<\/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\/dividends\/\">Dividends<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/egx\/\">EGX<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/income-tax\/\">income tax<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/stamp-tax\/\">stamp tax<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/tax\/\">tax<\/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=\"575485\" 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=\"575485\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">14<\/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\/10\/15\/the-market-yesterday-189\/\">\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\/10\/15\/the-market-yesterday-189\/\" 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\/10\/15\/the-market-yesterday-189\/')\">\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\/10\/15\/the-market-yesterday-189\/\">\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\/10\/15\/the-market-yesterday-189\/\">\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\/10\/15\/the-market-yesterday-189\/&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%2F10%2F15%2Fthe-market-yesterday-189%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\/10\/15\/the-market-yesterday-189\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-575485\" class=\"content-area-description single-story post-575485 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><span style=\"font-weight: bold;color: #696969;\">Powered by<\/span><\/p>\n<p><a href=\"https:\/\/pharoslive.com\/\"><img data-recalc-dims=\"1\" decoding=\"async\" alt=\"Pharos Holding - https:\/\/pharoslive.com\/\" src=\"https:\/\/i0.wp.com\/ent.news\/2020\/10\/pharoslive-logo.png?ssl=1\" style=\"display: inline-block;\" \/><\/a><\/p>\n<p><strong>EGP \/ USD CBE market average: <\/strong>Buy 15.64 | Sell 15.74<\/p>\n<p> <strong>EGP \/ USD at CIB:<\/strong> Buy 15.63 | Sell 15.73<br \/>\n <strong>EGP \/ USD at NBE: <\/strong>Buy 15.65 | Sell 15.75<\/p>\n<p><strong>EGX30<\/strong> (Wednesday): 11,334 (+0.4%)<br \/>\n <strong>Turnover:<\/strong> EGP 1.3 bn (16% above the 90-day average)<br \/>\n <strong>EGX 30 year-to-date<\/strong>: -18.8%<\/p>\n<p><strong>THE MARKET ON WEDNESDAY:<\/strong> The EGX30 ended Wednesday\u2019s session up 0.4%. CIB, the index\u2019s heaviest constituent, ended up 0.03%. EGX30\u2019s top performing constituents were GB Auto up 8.0%, Oriental Weavers up 5.1%, and Dice up 4.0%. Yesterday\u2019s worst performing stocks were Egyptian Iron & Steel down 3.4%, Emaar Misr down 1.2% and Heliopolis Housing and Development down 1.0%. The market turnover was EGP 1.3 bn, and regional investors were the sole net buyers.<\/p>\n<p><strong>Foreigners<\/strong>: Net Short | EGP -2.9 mn<br \/>\n <strong>Regional<\/strong>: Net Long | EGP +55.1 mn<br \/>\n <strong>Domestic<\/strong>: Net Short | EGP -52.2 mn<\/p>\n<p><strong>Retail<\/strong>: 73.5% of total trades | 74.6% of buyers | 72.5% of sellers<br \/>\n <strong>Institutions<\/strong>: 26.5% of total trades | 25.4% of buyers | 27.5% of sellers<\/p>\n<p><strong>WTI:<\/strong> USD 41.03 (+2.06%)<br \/>\n <strong>Brent:<\/strong> USD 43.31 (+2.03%)<\/p>\n<p><strong>Natural Gas:<\/strong> (Nymex, futures prices) USD 2.65 MMBtu (-7.22%, November 2020 contract)<br \/>\n <strong>Gold:<\/strong> USD 1,904.90 \/ troy ounce (+0.54%)<\/p>\n<p><strong>TASI:<\/strong> 8,592.10 (-0.10%) (YTD: +2.423%)<br \/>\n <strong>ADX:<\/strong> 4,573.00 (+0.61%) (YTD: -9.91%)<br \/>\n <strong>DFM:<\/strong> 2,218.21 (-0.86%) (YTD: -19.77%)<br \/>\n <strong>KSE Premier Market:<\/strong> 6,398.54 (-0.23%)<br \/>\n <strong>QE:<\/strong> 10,026.04 (-0.31%) (YTD: -3.83%)<br \/>\n <strong>MSM:<\/strong> 3,593.84 (-0.02%) (YTD: -9.73%)<br \/>\n <strong>BB: <\/strong>1,476.61 (-0.38%) (YTD: -8.30%)<\/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=\"575486\" 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\/10\/15\/575486\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-575486\" class=\"content-area-description single-story post-575486 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>October: Trade and Industry Ministry allocates SMEs seven industrial complexes.<\/p>\n<p>10-15 October (Saturday-Thursday): <a href=\"http:\/\/turathna.eg\/en\/event\/turathna-2020\">Turathna 2020<\/a> exhibition for traditional handicrafts, Egypt International Exhibition Center, Nasr City, Cairo.<\/p>\n<p>12-18 October (Monday-Sunday): 2020 Virtual Annual Meetings of the International Monetary Fund and the World Bank Group.<\/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 October (Sunday): The newly-elected Senate <a href=\"https:\/\/bit.ly\/2So2I41\">will hold<\/a> its inaugural session.<\/p>\n<p>18 October (Sunday): A court will hold <a href=\"https:\/\/www.egx.com.eg\/downloads\/News\/%d8%a8%d9%8a%d8%a7%d9%86%20%d9%82%d8%b6%d9%8a%d8%a9%202%20%d8%b9%d8%a7%d9%85%d8%b1%2004-10-2020.pdf\">a postponed hearing<\/a> to look into <a href=\"https:\/\/www.arabfinance.com\/en\/news\/details\/egypt-companies\/471891\">an unpaid claims lawsuit<\/a> by Syria\u2019s Antradous against Mansour Amer\u2019s Amer Group and Porto Group.<\/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>End of October: <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/d33a1331-bba4-462c-a268-96256d9235ec\">Last chance to settle building code violations<\/a> for illegal buildings.<\/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>22-25 November (Sunday-Wednesday): <a href=\"https:\/\/cairoict.com\/\">Cairo ICT 2020<\/a>, Egypt International Exhibition Center, Nasr City, Cairo.<\/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 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>5 December (Saturday): A court will hold <a href=\"https:\/\/www.egx.com.eg\/downloads\/News\/%d8%a8%d9%8a%d8%a7%d9%86%20%d9%82%d8%b6%d9%8a%d8%a9%201%20%d8%b9%d8%a7%d9%85%d8%b1%20%d8%ac%d8%b1%d9%88%d8%a8%2004-10-2020.pdf\">a postponed hearing<\/a> to look into an appeal by Syria\u2019s Anataradous against an <a href=\"https:\/\/www.arabfinance.com\/en\/news\/details\/egypt-companies\/475194\">arbitration ruling<\/a> in favor of Amer Group and Amer Syria.<\/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>25-29 January 2021 (Monday-Friday): The World Economic Forum\u2019s \u201cDavos Dialogues\u201d will take place virtually.<\/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>18-21 May 2021 (Tuesday-Friday): The World Economic Forum\u2019s annual meeting will be held under the theme of \u201cThe Great Reset\u201d in Lucerne-B&uuml;rgenstock, Switzerland<\/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<p>1 October 2021-31 March 2022 (Friday-Thursday): Postponed <a href=\"https:\/\/www.expo2020dubai.com\">Expo 2020 Dubai<\/a>.<\/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":575446,"menu_order":0,"template":"","categories":[],"tags":[],"class_list":["post-575445","issue","type-issue","status-publish","has-post-thumbnail","hentry","wpautop","entry"],"acf":{"mongo_id":"e6a5fd02-5954-4477-9c5f-7e6e499da726","teaser":"","photo_url":"https:\/\/ent.news\/2020\/10\/158.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>IMF sees a swift rebound for Egypt\u2019s fiscal position post-covid - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, 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