{"id":575539,"date":"2020-10-19T07:26:48","date_gmt":"2020-10-19T07:26:48","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/?post_type=issue&#038;p=575539"},"modified":"2025-12-16T10:20:29","modified_gmt":"2025-12-16T10:20:29","slug":"its-just-another-manic-monday-with-apologies-to-the-bangles","status":"publish","type":"issue","link":"https:\/\/enterpriseam.com\/egypt\/issues\/its-just-another-manic-monday-with-apologies-to-the-bangles\/","title":{"rendered":"It\u2019s just another manic Monday (with apologies to The Bangles)"},"content":{"rendered":"<section id=\"575541\" 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=\"575541\">\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\/19\/what-were-tracking-on-19-october-2020\/\">\r\n                            What we\u2019re tracking on 19 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\/19\/what-were-tracking-on-19-october-2020\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" 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category-what-were-tracking-today tag-allianz tag-alphabet tag-amazon tag-apple tag-arab-bank tag-asset-management tag-banking tag-bonds tag-boris-johnson tag-brexit tag-china tag-cib tag-covid-19 tag-easyjet tag-economy tag-emerging-markets tag-enterpriseam tag-equities tag-esg tag-eu tag-europe tag-facebook tag-france tag-gender tag-germany tag-google tag-huawei tag-italy tag-microsoft tag-netherlands tag-russia tag-sp-500 tag-saudi-arabia tag-sharm-el-sheikh tag-sinovac tag-spain tag-tourism tag-trade tag-travel tag-uk wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<aside>\t\t\t<div\r\n\t\t\t\t\t\t\t\tclass=\"newspack-popup-container newspack-popup hidden  newspack-inline-popup  newspack-lightbox-no-border   \"\r\n\t\t\t\trole=\"button\"\r\n\t\t\t\ttabindex=\"0\"\r\n\t\t\t\tstyle=\"background-color:#FFFFFF;color:#000\"\r\n\t\t\t\tid=\"id_27645\"\r\n\t\t\t\tdata-segments=\"\"\r\n\t\t\t\tdata-frequency=\"0,0,0,month\"\r\n\t\t\t>\r\n\t\t\t\t\n<div class=\"wp-block-group has-light-gray-background-color has-background\" style=\"padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px\"><div class=\"wp-block-group__inner-container is-layout-constrained wp-container-core-group-is-layout-ef38739e wp-block-group-is-layout-constrained\">\n<div class=\"wp-block-group is-content-justification-center is-nowrap is-layout-flex wp-container-core-group-is-layout-94bc23d7 wp-block-group-is-layout-flex\">\n<p class=\"f-graphik\" style=\"font-size:14px\">Together with<\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full\"><img decoding=\"async\" src=\"https:\/\/s3.amazonaws.com\/resources.inktankir.com\/internal\/27482.svg\" alt=\"\" class=\"wp-image-27482\"\/><\/figure>\n<\/div><\/div>\n<\/div><\/div>\n\t\t\t<\/div>\r\n\t\t<\/aside>\n<p><strong>Good morning, friends, and welcome to a typically slow (but not dull) Monday<\/strong>, which oddly enough is usually the slowest news morning of the week.<\/p><p><strong>Today is a good day to: Take stock. <\/strong>Not inventory, but metaphysical stock about how you\u2019re doing seven months into this WFH thing, whether you\u2019re fully at home, on some kind of home-office-home rotation, or back in the bullpen but dealing with the fact that half your counterparties are WFH. <strong>About 85% of people want flexibility on working from home <\/strong>when the pandemic ends, Pilita Clark reminds us. The Financial Times\u2019 office life columnist recently (and briefly) ventured back into the newsroom and found that she was ready to say \u201c<a href=\"https:\/\/www.ft.com\/content\/0700cd33-a626-4c04-b09e-df7eed3e85e2\">good riddance to a lot of what I thought was normal life<\/a>\u201d \u2014 starting with commutes.<\/p><p><strong>The WSJ is also feeling the WFH angst<\/strong>, writing in <a href=\"https:\/\/www.wsj.com\/articles\/what-people-really-love-and-hate-about-remote-work-11603018844\">What people really love (and hate) about<\/a><a href=\"https:\/\/www.wsj.com\/articles\/what-people-really-love-and-hate-about-remote-work-11603018844\"><\/a><a href=\"https:\/\/www.wsj.com\/articles\/what-people-really-love-and-hate-about-remote-work-11603018844\">remote work<\/a> that \u201cSeven months into the pandemic, many professionals say they like flexible schedules\u2014\u2018I actually eat real food now\u2019\u2014but miss colleagues and clients and cite frustrations such as Zoom fatigue.\u201d So. Much. Zoom. Fatigue.<\/p><p><strong>A word to the wise: <\/strong>Even as companies like <a href=\"https:\/\/blogs.microsoft.com\/blog\/2020\/10\/09\/embracing-a-flexible-workplace\/\">Microsoft allow workers to WFH permanently<\/a>, <a href=\"https:\/\/finance.yahoo.com\/news\/work-from-home-workers-called-greedy-petty-for-demanding-companies-pay-for-expenses-151555802.html\">don\u2019t expect your employer to pay<\/a> for lots of expenses.<\/p><p><strong>Meanwhile: \u2018Tis the season. College application season, that is.<\/strong> If you have a graduating senior in your household \u2014 particularly one bound for the US of A \u2014 you could do worse than to read <a href=\"https:\/\/www.wsj.com\/articles\/applying-to-college-during-covid-what-parents-and-students-should-know-11602885169\">Applying to college during covid: What parents and students should know<\/a>, courtesy of the WSJ.<\/p><p><strong>TODAY\u2019S LEADING INDICATOR: Egypt is not the only economy set to do pretty well this<\/strong> <strong>year<\/strong> (the subject of our lead story in this morning\u2019s Speed Round). Data out just before dispatch time this morning shows that <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2020-10-18\/china-s-rebound-helps-to-stabilize-a-shattered-world-economy?sref=mmeFTDW1\">China\u2019s economy grew 4.9% in 3Q<\/a> compared to the same quarter last year, underscoring the speed of its recovery from covid-19.<\/p><p><a class=\"content-anchor\" id=\"tldr-story-06\"><\/a> <strong>PSA- You can expect some light rainfall in Cairo on Wednesday<\/strong> that could turn into heavier showers over the weekend, the Egyptian Meteorological Authority <a href=\"http:\/\/ema.gov.eg\/pdf\/4df.pdf\">said yesterday (pdf)<\/a>. Expect temperatures in the 30-32\u00b0C range from today until Wednesday, with temperatures set to fall to 25-28\u00b0C once the rainy days begin.<\/p><hr class=\"grey-line\"><p><strong>The Senate now has its first speaker <\/strong>after former chief justice of the Supreme Constitutional Court Abdel Wahab Abdel Razek \u2014 now the leader of the populist Mostaqbal Watan part \u2014 was elected by acclamation in yesterday\u2019s inaugural session, according to <a href=\"https:\/\/bit.ly\/3lXNkIj\">Al Shorouk<\/a>. Abdel Razek presided over the court between 2016 and 2018, succeeding former interim president Adly Mansour. El Wafd Party chairman Bahaa Abu Shouka was <a href=\"https:\/\/bit.ly\/2T7YKwR\">voted in<\/a> as first deputy speaker and the Republican People's Party\u2019s Phoebe Fawzi was tapped to serve as second deputy.<\/p><p><strong>The Senate is now in recess until 29 November<\/strong> and plans to finalize a set of internal bylaws within one month, reports <a href=\"https:\/\/bit.ly\/37lYd2y\">Masrawy<\/a>.<\/p><p><strong>Voters are heading to the polls to elect a new House of Representatives this week<\/strong>, with expats set to kick off the multi-stage process on Wednesday. The first wave of voters at home will go to polling stations this coming Saturday (24 October).<\/p><p><strong>Not sure how to vote from abroad?<\/strong> Voters need to register on the National Elections Authority\u2019s <a href=\"http:\/\/www.elections.eg\/\">website<\/a> ahead of casting their ballots, <a href=\"https:\/\/bit.ly\/358icPH\">El Siyassa<\/a> magazine\u2019s deputy editor Aboul Fadl El Asnawy told El Hekaya\u2019s Amr Adib (<a href=\"https:\/\/www.youtube.com\/watch?v=E5lVtrRdC5g&amp;t=84s\">watch, runtime: 7:59<\/a>).<\/p><p><strong>The semi-virtual <\/strong><strong><a href=\"https:\/\/www.cairowaterweek.eg\/\">Cairo Water Week<\/a><\/strong><strong> kicked off yesterday and runs through Thursday<\/strong>, according to a <a href=\"https:\/\/bit.ly\/2T2HuZO\">cabinet statement<\/a>. The annual event will be held under the slogan \u201cWater Security for Peace and Development in Arid Regions.\u201d We have more on the first day of the event in Last Night\u2019s Talk Shows, below.<\/p><p><strong>Furniture expo <\/strong><strong><a href=\"https:\/\/bit.ly\/347ejLx\">Le March\u00e9<\/a><\/strong> <strong>begins this Thursday<\/strong>, 22 October and will run until Sunday, 25 October at the Egypt International Exhibition Center.<\/p><hr class=\"grey-line\"><p><strong>KUDOS- CIB has been named the Best Emerging Markets Bank in 2020 and Egypt\u2019s <\/strong><strong>Best Bank by <\/strong><strong><a href=\"https:\/\/www.gfmag.com\/magazine\/october-2020\/best-banks-global-winners\">Global Finance<\/a><\/strong> for its role in helping lead the \u201cdigital banking transformation in Egypt, using technological innovation to drive financial inclusion \u2026 and acting as a bridge for trade between Egypt and Sub-Saharan Africa.\u201d The bank got a pat on the back for its <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/812fb7dd-b3b8-4b41-9e16-3bf22e5eb544\">acquisition of a majority stake in Kenya-based Mayfair Bank<\/a>. It\u2019s the third time in four years that CIB has taken home an award as the top bank in emerging markets and its second such nod from Global Finance.<\/p><hr class=\"grey-line\"><p><strong>The Health Ministry <\/strong><strong><a href=\"https:\/\/bit.ly\/3dDTZo5\">reported<\/a><\/strong><strong> 127 new covid-19 infections yesterday<\/strong>, down from 138 the day before. Egypt has now disclosed a total of 105,424 confirmed cases of covid-19. The ministry also reported 11 new deaths, bringing the country\u2019s total death toll to 6,120. We now have a total of 98,247 confirmed cases that have fully recovered.<\/p><p><strong>The first EasyJet flight to Sharm El Sheikh in more than four years touched down yesterday<\/strong>, cabinet said in <a href=\"https:\/\/bit.ly\/3lVU09U\">a statement<\/a>. The UK budget carrier will operate weekly flights until the end of October before increasing them next month. Prior to the pandemic, EasyJet was scheduled to re-launch flights to Sharm in June for the first time since the UK placed a ban on direct flights to the Red Sea resort town following the downing of the Russian Metrojet in October 2015.<\/p><p><strong>Europe may be looking at a double-dip recession<\/strong> as countries across the continent move to reinstate lockdown restrictions amid record infection rates, <a href=\"https:\/\/www.ft.com\/content\/700355e2-362c-4f9f-a24e-ddc9f6ea9cb0\">the Financial Times<\/a> reports. Germany, France, the UK, Italy, Spain and the Netherlands have all placed various restrictions on movement in the past week, leading Allianz economist Katharina Uterm\u00f6hl to predict a return to contraction in 4Q, possibly followed by a recession in the new year.<\/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\/Somabay-171020-1600px.jpg?ssl=1\" alt=\"enterprise\"><\/a><\/p><p><strong>This morning on Planet ESG:<\/strong><\/p><p><a class=\"content-anchor\" id=\"tldr-story-07\"><\/a> <strong>\u201cESG is coming for emerging markets\u201d:<\/strong> Or, at least the PR department at one of the world\u2019s top performing EM bond funds would have you think: <strong>Candriam\u2019s USD 1.5 bn fund is blacklisting Saudi Arabia<\/strong>, Russia and China for what it says is their poor environmental, social and governance record. The fund has beaten more than 90% of its competitors over the past three years \u2014 and excludes the bottom 25% of countries on its ESG ranking. (<a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2020-10-16\/top-fund-s-blacklist-shows-esg-is-coming-for-emerging-markets?sref=mmeFTDW1\">Bloomberg<\/a>)<\/p><p>This comes as new EU rules and investor interest suggest that<strong> ESG funds could outnumber <\/strong><strong>conventional funds by 2025. <\/strong>(<a href=\"https:\/\/www.ft.com\/content\/5cd6e923-81e0-4557-8cff-a02fb5e01d42\">Financial Times<\/a>)<\/p><p><strong>But Mark Cuban isn\u2019t so worried about ESG\u2026<\/strong> The bn\u2019aire Wall Street investor last week brushed off criticisms of China\u2019s treatment of the Uighurs, telling Fox that he\u2019s \u201cOK with doing business with China.\u201d In past months the US financial sector has <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/16cf0c75-7cee-4740-9df5-46cef7c2d11b\">stepped up its operations in China<\/a> as Beijing loosens regulations on foreign investment. (<a href=\"https:\/\/www.foxbusiness.com\/business-leaders\/mark-cuban-condemns-human-rights-violations-but-is-ok-doing-business-with-china\">Fox News<\/a>)<\/p><p><strong>So is it really a surprise that gender diversity is also taking a backseat in investment <\/strong><strong>decisions?<\/strong> Less than half of fund managers take gender diversity into account when screening companies, despite the industry\u2019s vocal support for increasing the number of women at the top of the corporate world. (<a href=\"https:\/\/www.ft.com\/content\/18cba99e-d221-4365-a2d9-6c53e3365a3d\">Financial Times<\/a>)<\/p><hr class=\"grey-line\"><p><strong>Tech stocks are taking over the S&amp;P:<\/strong> Tech companies are on course to finish 2020 with their greatest ever share of the US stock market, surpassing the peak of the dot-com boom at the turn of the century, <a href=\"https:\/\/www.wsj.com\/articles\/techs-influence-over-markets-eclipses-dot-com-bubble-peak-11602894413?mod=hp_lead_pos2\">the Wall Street Journal<\/a> reports. <strong>Tech now accounts for almost 40% of the S&amp;P 500<\/strong>, topping the 37% achieved in 1999, while the big five (Apple, Alphabet, Microsoft, Facebook and Amazon) <a href=\"https:\/\/www.nasdaq.com\/articles\/analysis-trumps-diagnosis-fuels-uncertainty-for-skittish-u.s.-stock-market-2020-10-04\">hold a 25% share of the index<\/a>. With a market cap of more than USD 2 tn, Apple alone accounts for more than 7% of the index.<\/p><p><strong>And some are beginning to get concerned about tech\u2019s dominance<\/strong>, with analysts recently recommending investors diversify out of tech on fears of overextension and new regulations, <a href=\"https:\/\/www.reuters.com\/article\/us-usa-stocks-weekahead\/wall-street-week-ahead-big-tech-nervousness-prompts-calls-to-diversify-idUSKBN2712PB\">Reuters<\/a> reports. Societe Generale analysts warned that the growing calls for antitrust action in the US could hit tech stocks while UBS suggested moving into sectors more sensitive to an economic recovery, as well as EM value stocks and UK-based equities.<\/p><hr class=\"grey-line\"><p><strong>US ELECTION WATCH- <\/strong><strong>Joe Biden and Donald Trump are taking their campaigns to<\/strong><strong> swing states<\/strong> in the final weeks leading up to the elections, with both candidates courting voters yesterday in Nevada and North Carolina, according to <a href=\"https:\/\/www.reuters.com\/article\/us-usa-election\/biden-attacks-trump-in-north-carolina-over-covid-19-president-to-campaign-in-nevada-idUSKBN27304M\">Reuters<\/a>. Biden leaned largely on criticizing Trump\u2019s handling of the covid-19 outbreak as new cases are rising at record rates across the country.<\/p><p><strong>The two candidates are also going head-to-head in the final presidential debate this Thursday<\/strong> in Florida.<\/p><p class=\"web-image\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2019\/11\/CIRA-Blackboard-Banner-B.jpg?ssl=1\" alt=\"enterprise\"><\/p><p><strong>*** It\u2019s Blackboard day:<\/strong> We have our weekly look at the business of education in Egypt, from pre-K through the highest reaches of higher ed. Blackboard appears every Monday in Enterprise in the place of our traditional industry news roundups.<\/p><p><strong>In today\u2019s issue:<\/strong> We look at how banks are looking to make their education loan offerings more attractive to parents struggling to keep up with K-12 tuition payments.<\/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\/allianz\/\">Allianz<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/alphabet\/\">Alphabet<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/amazon\/\">Amazon<\/a>\n                <!-- <span 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href=\"https:\/\/enterpriseam.com\/egypt\/2020\/10\/19\/cairo-water-week-no-new-covid-19-cases-at-schools-egypt-posts-ongoing-facelift\/\">\r\n                            Cairo Water Week, no new covid-19 cases at schools, Egypt Post\u2019s ongoing facelift                        <\/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\/19\/cairo-water-week-no-new-covid-19-cases-at-schools-egypt-posts-ongoing-facelift\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" 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           <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=Cairo+Water+Week%2C+no+new+covid-19+cases+at+schools%2C+Egypt+Post%E2%80%99s+ongoing+facelift+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2020%2F10%2F19%2Fcairo-water-week-no-new-covid-19-cases-at-schools-egypt-posts-ongoing-facelift%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\/19\/cairo-water-week-no-new-covid-19-cases-at-schools-egypt-posts-ongoing-facelift\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-575543\" class=\"content-area-description single-story post-575543 post type-post status-publish format-standard hentry category-enterprise-last-nights-talk-shows tag-egypt-post tag-enterprise-last-nights-talk-shows tag-enterpriseam tag-gerd tag-moustafa-madbouly wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>No single topic led the conversation on the airwaves<\/strong> yesterday, leaving the talking heads to diversify their agendas.<\/p>\n<p><strong>The Grand Ethiopian Renaissance Dam featured heavily in Prime Minister Moustafa Madbouly\u2019s keynote speech on the opening day of Cairo Water Week<\/strong> yesterday, wherein the PM reiterated the necessity of reaching a binding legal agreement on the framework for filling and operating the dam, Al Hayah Al Youm\u2019s Lobna Assal noted. Madbouly called on technical experts to share their recommendations for the negotiations with Sudan and Ethiopia based on precedents set by other issues pertaining to share water supplies (<a href=\"https:\/\/www.youtube.com\/watch?v=7GPtd83iFhw\">watch, runtime: 2:07<\/a>). The dam is expected to be the topic of further discussions at the conference but there are no new developments in Egypt\u2019s discussions with Sudan and Ethiopia, Irrigation Ministry spokesperson Mohamed El Sibai told Assal. El Sibai also noted the ministry will honor farmers who have been using modern irrigation methods to rationalize water at the conference (<a href=\"https:\/\/www.youtube.com\/watch?v=BiaE2NHS-Fk&t=137s\">watch, runtime: 5:30<\/a>).<\/p>\n<p><strong>No new covid-19 cases have been reported among students of public and national schools and universities<\/strong>, whose academic year began on Saturday, Education Minister Tarek Shawki told Ala Mas\u2019ouleety\u2019s Ahmed Moussa. Shawki reiterated that there are strict precautionary measures in place at all schools and that, while schools are proceeding with a hybrid learning model, this plan could change if any \u201cemergency\u201d crops up (<a href=\"https:\/\/www.youtube.com\/watch?v=2FXmQIlbmMM\">watch, runtime: 11:18<\/a>).<\/p>\n<p><strong>Egypt Post\u2019s ongoing facelift:<\/strong> The government has been working to upgrade Egypt Post\u2019s branches and offices across the country and will then move on to developing the post office\u2019s services, CIT Minister Amr Talaat told El Hekaya\u2019s Amr Adib. The ministry is looking to make Egypt Post an outlet for government services such as issuing subsidy ration cards, registry services, and traffic department services such as renewing car and driving licenses \u2014 all of which are currently available online, Talaat noted (<a href=\"https:\/\/www.youtube.com\/watch?v=91oqYo0jAhw\">watch, runtime: 2:37<\/a>).<\/p>\n<p><strong>State-owned <\/strong><strong><a href=\"http:\/\/www.trenco-tire.com.eg\/index.htm\">Nisr Tires<\/a><\/strong> <strong>is manufacturing more tires here at home<\/strong>, Public Enterprises Minister Hisham Tawfik told 90 Minutes\u2019 Osama Kamal in a lengthy interview that covered the ministry\u2019s plans for all companies under its purview. According to the minister, Nisr Tires is working with the Arab Organization for Industrialization and the Military Production Ministry to manufacture more tires for heavy machinery and passenger cars at two factories. The first phase of the plan is to manufacture five mn tires and eventually reach 7.7 mn tires per year, which is around half of Egypt\u2019s tire consumption needs (<a href=\"https:\/\/www.youtube.com\/watch?v=8OhMr6PgWFo\">watch, runtime: 3:53<\/a>). Tawfik also discussed the ministry\u2019s EV production plans (<a href=\"https:\/\/www.youtube.com\/watch?v=l8NZVCE00ks\">watch, runtime: 7:35<\/a>) and how the ministry is repurposing the defunct El Nasr for Export & Import as a marketing arm for public and private sector manufacturers looking to export their wares, including by creating an electronic catalog (<a href=\"https:\/\/www.youtube.com\/watch?v=2O6OoFdi2_I\">watch, runtime: 3:47<\/a>). You can catch the full interview here (<a href=\"https:\/\/www.youtube.com\/watch?v=AajP2Jbn4WQ\">watch, runtime: 1:53:40<\/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\/egypt-post\/\">Egypt Post<\/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\/gerd\/\">GERD<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/moustafa-madbouly\/\">Moustafa Madbouly<\/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=\"575544\" 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=\"575544\">\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\/19\/egypts-economy-is-on-track-to-finish-the-year-having-grown-3-5\/\">\r\n                            Egypt\u2019s economy is on track to finish the year having grown 3.5%                        <\/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\/19\/egypts-economy-is-on-track-to-finish-the-year-having-grown-3-5\/\" 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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For color: European Bank for Reconstruction and Development also <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/376368f9-a898-4dd3-af9e-b6cda3018b9f\">revised its short-term projections<\/a>for Egypt, predicting economic growth of 5% in 2021 and 2% in 2020, making Egypt \u201cthe only economy across all of the EBRD regions likely to escape recession in the 2020 calendar year.\u201d<\/p>\n<p><strong>Inflation to pick up in the final quarter: <\/strong>Fitch said in <a href=\"https:\/\/www.fitchsolutions.com\/country-risk-sovereigns\/central-bank-egypt-keep-rates-hold-through-end-2020-despite-low-inflation-13-10-2020\">a separate report<\/a> it expects core inflation to increase from the current <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/dca8cf92-f742-4b12-84d4-0c2e19102327\">3.3%<\/a> to 5.3% by the end of the year. Inflation has been on a downward trajectory for much of this year. The headline rate rose last month for the first time since May but at <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/f3b6ca2c-4abd-438e-90bc-691dfe2bea84\">3.7%<\/a> remains close to record lows. The central bank\u2019s <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/383b8b99-dd6d-46df-b2dd-f2c241ea039f\">50 bps rate cut last month<\/a> may help to stimulate inflation in the remaining months of the year.<\/p>\n<p><strong>Pickup in price growth + risk of global market volatility mean rates are staying put this year:<\/strong> Fitch\u2019s \u201ccore view\u201d remains that the Central Bank of Egypt (CBE) will keep rates on hold through the end of 2020, even though lower-than-expected inflation figures \u201ccould conceivably prompt the IMF to push for further interest rate cuts.\u201d Fitch also anticipates a fresh bout of volatility in global financial markets, which could help pressure investors to sell out of emerging markets. With FX inflows from tourism and the Suez Canal dipping because of the pandemic, Fitch says any liquidity crunch would give the CBE further impetus to keep rates steady. The report notes that there nonetheless remains space for further monetary easing this year, considering <strong>Egypt\u2019s real interest rates \u201care still the most attractive globally.\u201d<\/strong><\/p>\n<p><strong>Expect to see 50 bps-worth of rate cuts in 2021, particularly as inflation figures should remain relatively muted next year<\/strong>, Fitch says. \u201cIndeed, while recovering economic activity will fuel demand-pull pressures to some extent \u2026 cost-push pressures will be contained in the absence of major further subsidy cuts.\u201d<\/p>\n<p><strong>The EGP may dip against the USD: <\/strong>Fitch also predicts the EGP will come under a bit of pressure to hit EGP 16.25 against the greenback by the end of the year, amounting to a 3.9% slide from the current 15.64 EGP-USD rate.<\/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\/economy\/\">economy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/fitch\/\">Fitch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/gdp\/\">GDP<\/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=\"575562\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"575563\" 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=\"575563\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">4<\/div>\r\n\r\n                    <p class=\"f-graphik\">EGYPT IN THE NEWS<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2020\/10\/19\/egypt-in-the-news-on-19-october-2020\/\">\r\n                            Egypt in the News on 19 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\/19\/egypt-in-the-news-on-19-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\/19\/egypt-in-the-news-on-19-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\/19\/egypt-in-the-news-on-19-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=Egypt in the News on 19 October 2020&url=https:\/\/enterpriseam.com\/egypt\/2020\/10\/19\/egypt-in-the-news-on-19-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\/19\/egypt-in-the-news-on-19-october-2020\/&title=Egypt in the News on 19 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=Egypt+in+the+News+on+19+October+2020+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2020%2F10%2F19%2Fegypt-in-the-news-on-19-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\/19\/egypt-in-the-news-on-19-october-2020\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-575563\" class=\"content-area-description single-story post-575563 post type-post status-publish format-standard hentry category-egypt-in-the-news tag-ancient-egypt tag-climate-change tag-eastern-mediterranean tag-egypt-in-the-news tag-egyptology tag-enterpriseam tag-history tag-human-rights tag-politics tag-russia tag-transport wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>Leading the conversation on Egypt in the international press this morning: <\/strong>The release of comedian Shady Abu Zaid after more than two years in pre-trial detention, the <a href=\"https:\/\/apnews.com\/article\/egypt-cairo-middle-east-402efee23adb402bc06bda61647ac923\">Associated Press<\/a> reports. Abu Zaid was arrested from his home in 2018 and charged with spreading false news and joining a banned organization. He had been a correspondent for the satirical Abla Fahita show, and produced a youtube show called \u201cThe Rich Content.\u201d<\/p>\n<p><strong>Also making the rounds:<\/strong> Al Monitor is out with a twofer on Egypt and Russia\u2019s ties, including their recent <a href=\"https:\/\/www.al-monitor.com\/pulse\/originals\/2020\/10\/egypt-russia-naval-drills-black-sea-tension-turkey.html%5C\">joint naval drills<\/a> in the Black Sea to send a message to Turkey, as well as the <a href=\"https:\/\/www.al-monitor.com\/pulse\/originals\/2020\/10\/egypt-russia-cooperation-investment-railway-authority.html\">multiple agreements<\/a> Cairo and Moscow have signed to revive Egypt\u2019s railway network and support the Egyptian Railway Authority, which it says suffered EGP 12.3 bn in losses in 2019. The outlet also looks at the <a href=\"https:\/\/www.al-monitor.com\/pulse\/originals\/2020\/10\/egypt-africa-desert-forests-plant-trees-wastewater.html\">success of Egypt\u2019s Serapium Forest<\/a>, which is spurring more plans to plant trees in the desert to combat climate change. Meanwhile, the <a href=\"https:\/\/www.washingtonpost.com\/world\/middle_east\/egypt-sissi-human-rights-congress-democrats\/2020\/10\/18\/851b8df4-0ff4-11eb-b404-8d1e675ec701_story.html\">Washington Post<\/a> notes that US Democrats have vowed to take a \u201cdifferent approach\u201d to Egypt\u2019s human right record should Joe Biden be elected president next month.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/ancient-egypt\/\">Ancient Egypt<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/climate-change\/\">climate change<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/eastern-mediterranean\/\">Eastern Mediterranean<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/egypt-in-the-news\/\">Egypt in the News<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/egyptology\/\">Egyptology<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/history\/\">History<\/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                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/politics\/\">politics<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/russia\/\">Russia<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/transport\/\">transport<\/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=\"575564\" 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=\"575564\">\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\">Diplomacy + Foreign Trade<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2020\/10\/19\/diplo-foreign-trade-on-19-october-2020\/\">\r\n                            Diplo + Foreign Trade on 19 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\/19\/diplo-foreign-trade-on-19-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\/19\/diplo-foreign-trade-on-19-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\/19\/diplo-foreign-trade-on-19-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=Diplo + Foreign Trade on 19 October 2020&url=https:\/\/enterpriseam.com\/egypt\/2020\/10\/19\/diplo-foreign-trade-on-19-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\/19\/diplo-foreign-trade-on-19-october-2020\/&title=Diplo + Foreign Trade on 19 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=Diplo+%2B+Foreign+Trade+on+19+October+2020+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2020%2F10%2F19%2Fdiplo-foreign-trade-on-19-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\/19\/diplo-foreign-trade-on-19-october-2020\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-575564\" class=\"content-area-description single-story post-575564 post type-post status-publish format-standard hentry category-diplomacy-foreign-trade tag-diplomacy-foreign-trade tag-dispute-watch tag-enterpriseam tag-foreign-ministry tag-israel tag-palestine wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>Topping diplomacy coverage this morning:<\/strong> The <a href=\"https:\/\/bit.ly\/2HiKoH3\">Foreign Ministry<\/a> and <a href=\"https:\/\/bit.ly\/3lZj7ZC\">Al Azhar<\/a> condemned Israeli plans for new settlements in the occupied West Bank, joining <a href=\"https:\/\/sputniknews.com\/middleeast\/202010161080790444-western-european-states-urge-israel-to-halt-building-settlements-in-west-bank\/\">European<\/a> and <a href=\"https:\/\/www.kuna.net.kw\/ArticleDetails.aspx?id=2931764\">GCC<\/a> governments who called for an end to illegal construction on Palestinian territory. Israel recently approved the construction of some 5k new houses, bringing the total number approved in 2020 <a href=\"https:\/\/peacenow.org.il\/en\/settlements-watch\/settlements-data\/construction\">to more than 12k<\/a>.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/diplomacy-foreign-trade\/\">Diplomacy + Foreign Trade<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/dispute-watch\/\">dispute watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/foreign-ministry\/\">Foreign Ministry<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/israel\/\">Israel<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/palestine\/\">Palestine<\/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=\"575568\" 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=\"575568\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">6<\/div>\r\n\r\n                    <p class=\"f-graphik\">The Market Yesterday<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2020\/10\/19\/the-market-yesterday-191\/\">\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\/19\/the-market-yesterday-191\/\" 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\/19\/the-market-yesterday-191\/')\">\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\/19\/the-market-yesterday-191\/\">\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\/19\/the-market-yesterday-191\/\">\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\/19\/the-market-yesterday-191\/&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%2F19%2Fthe-market-yesterday-191%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\/19\/the-market-yesterday-191\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-575568\" class=\"content-area-description single-story post-575568 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> (Sunday): 11,185 (-1.2%)<br \/>\n <strong>Turnover:<\/strong> EGP 839 mn (25% below the 90-day average)<br \/>\n <strong>EGX 30 year-to-date<\/strong>: -19.9%<\/p>\n<p><strong>THE MARKET ON SUNDAY:<\/strong> The EGX30 ended Sunday\u2019s session down 1.2%. CIB, the index\u2019s heaviest constituent, ended down 1.0%. EGX30\u2019s top performing constituents were GB Auto up 0.7%, CIRA up 0.2%, and Edita up 0.2%. Yesterday\u2019s worst performing stocks were Sodic down 4.0%, EFG Hermes down 3.3% and Sidi Kerir Petrochemicals down 3.3%. The market turnover was EGP 839 mn, and domestic investors were the sole net buyers.<\/p>\n<p><strong>Foreigners<\/strong>: Net Short | EGP -1.0 mn<br \/>\n <strong>Regional<\/strong>: Net Short | EGP -9.3 mn<br \/>\n <strong>Domestic<\/strong>: Net Long | EGP +10.2 mn<\/p>\n<p><strong>Retail<\/strong>: 87.0% of total trades | 88.3% of buyers | 85.7% of sellers<br \/>\n <strong>Institutions<\/strong>: 13.0% of total trades | 11.7% of buyers | 14.3% of sellers<\/p>\n<p><strong>WTI:<\/strong> USD 40.88 (-0.20%)<br \/>\n <strong>Brent:<\/strong> USD 42.93 (-0.53%)<\/p>\n<p><strong>Natural Gas:<\/strong> (Nymex, futures prices) USD 2.77MMBtu (-0.77%, November 2020 contract)<br \/>\n <strong>Gold:<\/strong> USD 1,906.40 \/ troy ounce (-0.13%)<\/p>\n<p><strong>TASI:<\/strong> 8,560.81 (+0.08%) (YTD: +2.05%)<br \/>\n <strong>ADX:<\/strong> 4,546.95 (-0.16%) (YTD: -10.42%)<br \/>\n <strong>DFM:<\/strong> 2,181.22 (-0.61%) (YTD: -21.11%)<br \/>\n <strong>KSE Premier Market:<\/strong> 6,314.93 (-0.98%)<br \/>\n <strong>QE:<\/strong> 10,009.76 (+0.10%) (YTD: -3.99%)<br \/>\n <strong>MSM:<\/strong> 3,602.46 (+0.25%) (YTD: -9.51%)<br \/>\n <strong>BB: <\/strong>1,476.93 (-0.06%) (YTD: -8.28%)<\/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=\"575569\" 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\/19\/575569\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-575569\" class=\"content-area-description single-story post-575569 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>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>22-25 October (Thursday-Sunday): Le March\u00e9 furniture expo, Egypt International Exhibition Center, Cairo, Egypt.<\/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>13-15 November (Friday-Sunday): <a href=\"https:\/\/www.mubasher.info\/news\/3709002\/-%D8%A7%D9%84%D9%85%D8%B5%D8%A7%D8%B1%D9%81-%D8%A7%D9%84%D8%B9%D8%B1%D8%A8%D9%8A%D8%A9-%D8%B4%D8%B1%D9%85-%D8%A7%D9%84%D8%B4%D9%8A%D8%AE-%D8%AA%D8%B3%D8%AA%D8%B6%D9%8A%D9%81-%D9%85%D8%A4%D8%AA%D9%85%D8%B1%D8%A7-%D9%84%D8%A8%D8%AD%D8%AB-%D8%AA%D8%AD%D8%AF%D9%8A%D8%A7%D8%AA-%D8%A7%D9%84%D9%82%D8%B7%D8%A7%D8%B9-%D9%81%D9%8A-%D8%B8%D9%84-%D9%83%D9%88%D8%B1%D9%88%D9%86%D8%A7\/\">A conference on banking in the time of covid<\/a> by the Union of Arab Banks, Sharm El Sheikh, Egypt.<\/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\u00fcrgenstock, 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":575540,"menu_order":0,"template":"","categories":[],"tags":[],"class_list":["post-575539","issue","type-issue","status-publish","has-post-thumbnail","hentry","wpautop","entry"],"acf":{"mongo_id":"d5055a5e-4482-474d-bfb2-e66244822678","teaser":"","photo_url":"https:\/\/ent.news\/2020\/10\/193.jpg"},"yoast_head":"<!-- This site is optimized 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