{"id":575579,"date":"2020-10-20T04:20:59","date_gmt":"2020-10-20T04:20:59","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/?post_type=issue&#038;p=575579"},"modified":"2025-12-16T10:22:00","modified_gmt":"2025-12-16T10:22:00","slug":"busy-news-day-adqs-buying-spree-alabbars-love-of-our-real-estate-industry-lots-from-the-imf-and-world-bank","status":"publish","type":"issue","link":"https:\/\/enterpriseam.com\/egypt\/issues\/busy-news-day-adqs-buying-spree-alabbars-love-of-our-real-estate-industry-lots-from-the-imf-and-world-bank\/","title":{"rendered":"Busy news day: ADQ\u2019s buying spree, Alabbar\u2019s love of our real estate industry + lots from the IMF and World Bank"},"content":{"rendered":"<section id=\"575581\" 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=\"575581\">\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\/20\/what-were-tracking-on-20-october-2020\/\">\r\n                            What we\u2019re tracking on 20 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\/20\/what-were-tracking-on-20-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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But this weekend could be a different story, with about 5 mm of rain in the forecast for Saturday and 2-4 mm predicted for Sunday.<\/p><p><strong>Also: A reminder that next week is a short workweek<\/strong> \u2014 we\u2019re all off on Thursday, 29 October in observance of the Prophet\u2019s Birthday. Our plan is not to stray far from home: Line up some <a href=\"https:\/\/cooking.nytimes.com\/\">recipes with the NY Times\u2019 Cooking app<\/a> and make some good food with our regular weekly delivery of amazing stuff from <a href=\"https:\/\/www.sarasorganicfood.com\">Sara\u2019s Organic Farm<\/a>. Read lots. Maybe see if there isn\u2019t something on which to binge on Netflix or AppleTV+ \u2014 Ted Lasso seems just about mindless enough, it\u2019s getting <a href=\"https:\/\/www.nytimes.com\/2020\/08\/14\/arts\/television\/ted-lasso-review.html\">universally great reviews<\/a> and dude\u2019s moustache game is strong.<\/p><p><strong>SIGN OF THE TIMES- The IMF has downgraded its 2020 forecasts for the Middle East and<\/strong> <strong>Central Asia<\/strong>, predicting a 4.1% contraction in its latest <a href=\"https:\/\/www.imf.org\/en\/Publications\/REO\/MECA\/Issues\/2020\/10\/14\/regional-economic-outlook-menap-cca\">regional economic outlook<\/a> compared to the 2.8% it projected in April. The situation is looking less dire in the Gulf, where the IMF now sees a 6% contraction in the cards, an improvement from the 7.1% slump it forecast in July (provided that governments continue to focus on public spending to offset falling oil revenues).<\/p><p><strong>Egypt is the only country in the Middle East expected to avoid contraction in 2020.<\/strong> We have more on this in Last Night\u2019s Talk Shows and a related World Bank report in Speed Round, below.<\/p><p>In the meantime:<\/p><p><strong>It\u2019s Egyptian-German Renewables Day<\/strong>, which will see seven major German energy and industrial companies in attendance, the German-Arab Chamber of Industry and Commerce (which is hosting the event) said in <a href=\"https:\/\/aegypten.ahk.de\/en\/news\/news-details-english\/10th-egyptian-german-renewables-day\">a statement<\/a>.<\/p><p><strong><a href=\"https:\/\/www.cairowaterweek.eg\/\">Cairo Water Week<\/a><\/strong><strong> continues today through Thursday. <\/strong>The annual event, which kicked off on Sunday, is <a href=\"https:\/\/bit.ly\/2T2HuZO\">semi-virtual this year<\/a>.<\/p><p><strong>Voters abroad will begin casting their ballots tomorrow to elect a new House of<\/strong><strong> Representatives<\/strong>, kicking off the multi-stage process that will see the first wave of voters at home going to polling stations this coming Saturday (24 October).<\/p><p><strong>Reminder: If you want to vote outside Egypt, you need to register on the National<\/strong> <strong>Elections Authority\u2019s <\/strong><strong><a href=\"http:\/\/www.elections.eg\/\">website<\/a><\/strong> before going to cast your ballot.<\/p><p><strong>Folks voting here at home<\/strong> can find their polling station by putting their national ID number into the same website.<\/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>The Health Ministry <\/strong><strong><a href=\"https:\/\/www.facebook.com\/egypt.mohp\/photos\/a.122315979319023\/232710281612925\/\">reported<\/a><\/strong><strong> 123 new covid-19 infections yesterday<\/strong>, down from 127 the day before. Egypt has now disclosed a total of 105,547 confirmed cases of covid-19. The ministry also reported 10 new deaths, bringing the country\u2019s total death toll to 6,130. We now have a total of 98,314 confirmed cases that have fully recovered.<\/p><p><strong>The government is ready for an anticipated second wave of infections<\/strong>, but remains fiscally prudent to ensure the impact on the economy remains contained, Finance Minister Mohamed Maait told El Hekaya\u2019s Amr Adib last night. Maait noted that the FY2020-2021 state budget has ramped up allocations in key areas to handle the pandemic \u2014 and that the in-the-works SMEs Act will help bring the parallel economy kicking and screaming into the light to contribute to formal GDP growth (<a href=\"https:\/\/www.youtube.com\/watch?v=mL52U6CrTdc\">watch, runtime: 2:11<\/a>).<\/p><p><strong>The global case tally surpassed 40 mn yesterday<\/strong> as Europe and the US struggle to contain a renewed surge in cases, according to <a href=\"https:\/\/coronavirus.jhu.edu\/\">Johns Hopkins University\u2019s tally<\/a>.<\/p><p><strong>Much of the developing world is unprepared for the rollout of a vaccine<\/strong>, with almost 3 bn people living in areas still unable to keep vaccines refrigerated and sterile, <a href=\"https:\/\/apnews.com\/article\/virus-outbreak-pandemics-immunizations-epidemics-united-nations-fc4c536d62c5ef25152884adb1c14168\">the Associated Press<\/a> reports.<\/p><p><strong>Are we going to ditch quarantines for travelers? <\/strong>The International Air Transport Association (IATA) is working with the World Health Organization to set up a testing system to replace compulsory quarantines in an effort to revive the ailing airline industry, according to <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2020-10-19\/iata-working-with-who-and-civil-aviation-body-on-testing-regime\">Bloomberg<\/a>. The system would ideally involve cheap tests before departure and fully open borders between countries with similar levels of covid risk.<\/p><p><strong>Inter<\/strong><strong>national migration has slumped to an unprecedented level:<\/strong> The issuance of new visas and permits fell by a record 46% y-o-y in the first half of 2020 due to the pandemic and its economic consequences, the Organisation for Economic Co-operation and Development <a href=\"https:\/\/www.oecd.org\/migration\/covid-19-crisis-puts-migration-and-progress-on-integration-at-risk.htm\">said yesterday<\/a>.<\/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>SIGN OF THE TIMES- Pity the bankers. <\/strong>Commercial bankers may end 2020 by joining the investment bankers crying in their teacups rather than toasting the new year with champagne to celebrate fat bonus cheques. Citigroup, JPMorgan Chase and Bank of America have all warned staff that bonuses for high-flyers may not keep pace with their performance as the businesses have \u201cbooked huge loan loss charges to prepare for a surge in defaults as the pandemic ravages global economies.\u201d The also don\u2019t want to waive their largesse in the face of citizens, regulators and politicians who haven\u2019t had a wonderful 2020, <a href=\"https:\/\/www.ft.com\/content\/a411b5cd-0155-4f30-b11d-14b43749fb65\">the Financial Times<\/a> suggests.<\/p><p><strong>Tech firms led by their founders are beating those led by<\/strong><strong> outsiders in both profit growth and share performance this year<\/strong>, according to <a href=\"https:\/\/www.reuters.com\/article\/us-global-companies-founders\/founder-led-firms-outpacing-ceo-led-ones-in-market-recovery-idUSKBN2741T0?il=0\">a Reuters analysis<\/a>. Heavyweights including Jeff Bezos\u2019 Amazon, Reed Hastings\u2019 Netflix and Elon Musk\u2019s Tesla saw their share prices double so far into 2020, compared with a modest 7.8% gain for the wider S&amp;P 500. Profit growth in founder-led companies also came in at 30% over the past five years, nearly five times a 6.7% recorded by manager-led firms, says the newswire.<\/p><p><strong>The big problem facing central banks: How to wean markets off the deluge of cheap <\/strong><strong>money.<\/strong> The world\u2019s key central banks are increasingly facing what Mohamed El Erian calls a \u201cno-exit\u201d scenario as the question of how to unwind the USD tns of stimulus without freaking out the markets begins to focus minds, <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2020-10-18\/fed-central-banks-will-find-exit-from-massive-stimulus-impeded?srnd=economics-vp&amp;sref=mmeFTDW1\">Bloomberg<\/a> says. The surge in corporate and sovereign debt will make it difficult for the Federal Reserve to raise rates while the rapid expansion of the Treasury market may force the central bank, which is currently buying USD 80 bn of Treasuries a month, to maintain its bond-buying program over the long term.<\/p><p><strong>Pressure will increase if vaccines are successfully deployed next year and the global <\/strong><strong>economy starts to recover<\/strong>, with asset bubbles and accelerating inflation a likely outcome if central banks are unable to rein in the stimulus, Bloomberg says.<\/p><p><strong>Other international stories <\/strong>worth knowing about:<\/p><ul>\n<li><strong>OPEC plans further oil output cuts amid \u201canemic\u201d demand<\/strong> and a second wave of covid-19 (<a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2020-10-17\/opec-faces-growing-pressure-to-change-course-as-ministers-meet\">Bloomberg<\/a>)<\/li>\n<li><strong>Sudan could get off the US list of state sponsors of terror <\/strong>if it coughs up USD 335 mn to benefit American victims of terror, Agent Orange has <a href=\"https:\/\/twitter.com\/realDonaldTrump\/status\/1318251010595303424\">tweeted<\/a>.<\/li>\n<li><strong>Eurozone countries are trying to spend their way out of the covid crisis<\/strong>, sending budget deficits up almost tenfold to a combined EUR 1 tn (<a href=\"https:\/\/www.ft.com\/content\/5579361f-5aac-4cd3-9e93-190fffdc0baf\">Financial Times<\/a>) <\/li>\n<li><strong>NASA has tapped Nokia to build a lunar 4G network<\/strong> and will eventually launch 5G there, too. NASA plans to have a \u201csustainable\u201d human presence on the moon by 2028. Maybe we\u2019ll get 5G around the same time as the moon does? (<a href=\"https:\/\/www.cnbc.com\/2020\/10\/19\/nasa-is-launching-a-4g-mobile-network-on-the-moon.html\">CNBC<\/a>)<\/li>\n<\/ul><p><strong>US ELECTION WATCH- The final US presidential debate on Thursday could be less <\/strong><strong>chaotic than last month\u2019s shouting match<\/strong> now that organizers have decided to mute each candidate\u2019s microphone when the other is delivering their opening remarks, <a href=\"https:\/\/www.reuters.com\/article\/us-usa-election\/final-trump-biden-debate-will-feature-mute-button-after-chaotic-first-clash-idUSKBN2740FF\">Reuters<\/a> reports. The interruptions will be allowed to resume after the first 15-minute segment.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/amazon\/\">Amazon<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/antitrust\/\">antitrust<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/apple\/\">Apple<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/aviation\/\">aviation<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n           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   \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">2<\/div>\r\n\r\n                    <p class=\"f-graphik\">Enterprise+: Last Night\u2019s Talk Shows<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2020\/10\/20\/last-nights-talk-shows-imfs-azour-talks-regional-economic-outlook-upcoming-review-of-egypts-sba\/\">\r\n                            Last Night\u2019s Talk Shows: IMF\u2019s Azour talks regional economic outlook, upcoming review of Egypt\u2019s SBA                        <\/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 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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 busy night on the airwaves last night, especially for Kelma Akhira\u2019s Lamees El<\/strong><strong> Hadidi<\/strong>, who covered everything from an upcoming IMF review to disburse a second tranche of the USD 5.2 bn standby arrangement, to the upcoming House of Representatives election.<\/p>\n<p><a class=\"content-anchor\" id=\"tldr-story-02\"><\/a> <strong>MENA economies will only start to a robust economic recovery once a covid vaccine is available<\/strong>, but governments need to continue doing what they can to support their economies until then, Director of the IMF\u2019s Middle East and Central Asia department Jihad Azour told Lamees in a conversation about the fund\u2019s regional economic outlook report. For Egypt, Azour stressed the importance of sticking to its economic reform program, which he noted is a key reason we entered the crisis on relatively strong footing and allowed us to be the only country in the region that is expected to escape a recession this year. Shoring up the country\u2019s social safety net through programs such as Takaful and Karama, as well as encouraging private sector investment, should also be top priorities for the government to be best-positioned for the post-covid recovery, Azour said.<\/p>\n<p><strong>The first of Egypt\u2019s two reviews under the IMF\u2019s USD 5.2 bn standby arrangement (SBA) is scheduled \u201cwithin weeks,\u201d<\/strong> Azour told Lamees. The review is a precursor to the disbursement of the second tranche of the SBA, of which Egypt has already received USD 2 bn (<a href=\"https:\/\/www.youtube.com\/watch?v=WAE_JLzPccQ\">watch, runtime: 20:39<\/a>).<\/p>\n<p><strong>In other news from the IMF, economist and former investment minister Mahmoud Mohieldin has been elected <\/strong><strong>as the next executive board member<\/strong> of the fund, succeeding former Egyptian prime minister Hazem El Beblawi, Lamees said. Mohieldin \u2014 who is currently the UN Special Envoy on financing the 2030 development agenda \u2014 will represent Egypt and the Arab Group on the IMF\u2019s board. All 11 Arab countries nominated Mohieldin for the job, Lamees noted (<a href=\"https:\/\/www.youtube.com\/watch?v=eIXcY_Oa1LU&t=52s\">watch, runtime: 3:23<\/a>).<\/p>\n<p><a class=\"content-anchor\" id=\"tldr-story-03\"><\/a> <strong>Emaar\u2019s Alabbar is bullish on our real estate market:<\/strong> Egypt\u2019s real estate market is poised to stage a speedy recovery next year as investment conditions are expected to improve, Emirati businessman and Emaar Real Estate Chairman Mohamed Alabbar told Lamees. Alabbar noted that Egypt is one of Emaar\u2019s most profitable markets, alongside the UAE, leading the developer to remain bullish on the country\u2019s prospects (<a href=\"https:\/\/www.youtube.com\/watch?v=jOnt94_FHqs\">watch, runtime: 3:00<\/a>).<\/p>\n<p><strong>House elections abroad:<\/strong> Expats who have registered to vote in the House of Representatives elections (which kick off abroad tomorrow) can mail in their ballots to avoid crowds at embassies, Emigration Minister Nabila Makram Ebeid told Lamees (<a href=\"https:\/\/www.youtube.com\/watch?v=pPv_2BjReSQ\">watch, runtime: 7:17<\/a>). Meanwhile, National Elections Authority head Lashin Ibrahim said that the authority has judges in place to monitor the vote and has pandemic-related precautionary measures in place for voters and judges alike, Ala Mas\u2019ouleety\u2019s Ahmed Moussa noted (<a href=\"https:\/\/www.youtube.com\/watch?v=TdgkZn9SwFA\">watch, runtime: 7:43<\/a>).<\/p>\n<p><strong>A team of Egyptian archaeologists unearthed a new tomb at Saqqara<\/strong> filled with colorful, sealed sarcophagi buried more than 2.5k years ago as well as a collection of wooden statues, cabinet said in <a href=\"https:\/\/bit.ly\/2T5bunZ\">a statement<\/a>. Supreme Council of Antiquities Secretary General Mostafa Waziri detailed the discovery and noted that five museums will be inaugurated over the next few weeks in separate conversations with Al Hayah Al Youm\u2019s Lobna Assal (<a href=\"https:\/\/www.youtube.com\/watch?v=iT8PFI432Ng&t=251s\">watch, runtime: 11:41<\/a>) and El Hekaya\u2019s Amr Adib (<a href=\"https:\/\/www.youtube.com\/watch?v=7tXFs-Kb448\">watch, runtime: 9:16<\/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\/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\/finance-ministry\/\">Finance Ministry<\/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\/jihad-azour\/\">Jihad Azour<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/mohamed-maait\/\">Mohamed Maait<\/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=\"575584\" 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=\"575584\">\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\/20\/abu-dhabi-sovereign-wealth-fund-invests-usd-1-bn-in-lulus-egypt-expansion\/\">\r\n                            Abu Dhabi sovereign wealth fund invests USD 1 bn in LuLu\u2019s Egypt expansion                        <\/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\/20\/abu-dhabi-sovereign-wealth-fund-invests-usd-1-bn-in-lulus-egypt-expansion\/\" 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\/20\/abu-dhabi-sovereign-wealth-fund-invests-usd-1-bn-in-lulus-egypt-expansion\/')\">\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\/20\/abu-dhabi-sovereign-wealth-fund-invests-usd-1-bn-in-lulus-egypt-expansion\/\">\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=Abu Dhabi sovereign wealth fund invests USD 1 bn in LuLu\u2019s Egypt expansion&url=https:\/\/enterpriseam.com\/egypt\/2020\/10\/20\/abu-dhabi-sovereign-wealth-fund-invests-usd-1-bn-in-lulus-egypt-expansion\/\">\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\/20\/abu-dhabi-sovereign-wealth-fund-invests-usd-1-bn-in-lulus-egypt-expansion\/&title=Abu Dhabi sovereign wealth fund invests USD 1 bn in LuLu\u2019s Egypt expansion\">\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=Abu+Dhabi+sovereign+wealth+fund+invests+USD+1+bn+in+LuLu%E2%80%99s+Egypt+expansion+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2020%2F10%2F20%2Fabu-dhabi-sovereign-wealth-fund-invests-usd-1-bn-in-lulus-egypt-expansion%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\/20\/abu-dhabi-sovereign-wealth-fund-invests-usd-1-bn-in-lulus-egypt-expansion\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2020\/10\/201.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"575585\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2020\/10\/20\/abu-dhabi-sovereign-wealth-fund-invests-usd-1-bn-in-lulus-egypt-expansion\/201-jpg-16\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2020\/10\/201.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"201.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2020\/10\/201.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2020\/10\/201.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-575584\" class=\"content-area-description single-story post-575584 post type-post status-publish format-standard has-post-thumbnail hentry category-speed-round tag-adq tag-agriculture tag-enterpriseam tag-food tag-investment-watch tag-lulu-group tag-retail tag-speed-round wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><a id=\"tldr-story-01\" class=\"content-anchor\"><\/a> <strong>INVESTMENT WATCH-<\/strong> <strong>Abu Dhabi\u2019s sovereign wealth fund ADQ Holding will invest<\/strong> <strong>USD 1 bn in retailer LuLu\u2019s Egypt expansion<\/strong>, the fund said in <a href=\"https:\/\/adq.ae\/media\/news\/adq-enters-agreement-with-lulu-international-holdings-for-expanding-in-egypt\">a statement<\/a>. The non-binding agreement will see the Abu Dhabi-based retailer establish up to 30 hypermarkets and 100 mini markets, as well as logistics hubs and distribution and fulfillment centers in an expansion that is expected to create 12k jobs. \u201cThe phased roll-out of multiple retail stores would provide significant socio-economic benefits to local communities across the country,\u201d said ADQ CEO Mohamed Al Suwaidi, stressing the fund\u2019s commitment to investing in Egypt. ADQ \u2014 which in April <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2020-04-22\/abu-dhabi-sheikh-is-said-to-invest-1-billion-in-top-grocer-lulu\">acquired an almost 20% stake in LuLu<\/a> for USD 1 bn \u2014 <a href=\"https:\/\/enterprise.press\/stories\/2019\/11\/17\/egypts-tharaa-establishes-a-usd-20-bn-investment-platform-with-abu-dhabi-holding-company-6357\/\">set up a USD 20 bn investment fund<\/a> with the Sovereign Fund of Egypt last year to invest in a range of sectors including food, agriculture, mobility and logistics, and healthcare.<\/p>\n<p><strong>This isn\u2019t the first time we\u2019ve heard about LuLu\u2019s investment plans:<\/strong> LuLu is one of the largest retailers in the Middle East by turnover and has been planning to invest USD 1 bn <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/229358e3-77f5-4fce-86b2-f2bf430c64b6\">since at least July<\/a>, when it <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/95fba754-dfcd-46bf-899b-e1032666e34f\">opened its second hypermarket<\/a> in Egypt, an EGP 180 mn branch in Sheraton. Internal Trade Development Authority (ITDA) head Ibrahim Ashmawy said at the time that the company would make the investments over a three-year period but the company has never publicly acknowledged the plans until now.<\/p>\n<p><strong>Everyone wants a bite of Lulu:<\/strong> Saudi Arabia\u2019s sovereign wealth fund is reportedly also in early stage talks to acquire<a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/f4b765e2-e37a-4e08-901b-a31852982d6b\">an undisclosed stake<\/a> in Lulu\u2019s operations.<\/p>\n<p><strong>ADQ has been on an acquisition spree as of late<\/strong>, <a href=\"http:\/\/v\">acquiring a 22% stake in Aramex<\/a> as well as a USD 2.1 bn stake in Abu Dhabi National Oil Co. alongside the Abu Dhabi Pension Fund. ADQ has also been keen to expand its food and agriculture investments, looking to acquire a stake in <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2020-09-04\/louis-dreyfus-in-talks-to-sell-stake-to-abu-dhabi-s-adq?sref=mmeFTDW1\">global agriculture trader Louis Dreyfus<\/a> (the \u201cD\u201d in the \u201cABCD\u201d big-four global commodities players) and is eyeing a majority stake in <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/6ebb4a12-3637-44f0-9198-8e19cc2f374b\">Egyptian meat and poultry business Atyab<\/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\/adq\/\">ADQ<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/agriculture\/\">agriculture<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/food\/\">food<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/investment-watch\/\">investment watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/lulu-group\/\">Lulu Group<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/retail\/\">retail<\/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=\"575598\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"575599\" 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=\"575599\">\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\">Enterprise explains<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2020\/10\/20\/enterprise-explains-factoring\/\">\r\n                            Enterprise Explains: Factoring                        <\/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\/20\/enterprise-explains-factoring\/\" 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\/20\/enterprise-explains-factoring\/')\">\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\/20\/enterprise-explains-factoring\/\">\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=Enterprise Explains: Factoring&url=https:\/\/enterpriseam.com\/egypt\/2020\/10\/20\/enterprise-explains-factoring\/\">\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\/20\/enterprise-explains-factoring\/&title=Enterprise Explains: Factoring\">\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=Enterprise+Explains%3A+Factoring+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2020%2F10%2F20%2Fenterprise-explains-factoring%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\/20\/enterprise-explains-factoring\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2020\/10\/206.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"575600\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2020\/10\/20\/enterprise-explains-factoring\/206-jpg-16\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2020\/10\/206.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"206.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2020\/10\/206.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2020\/10\/206.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-575599\" class=\"content-area-description single-story post-575599 post type-post status-publish format-standard has-post-thumbnail hentry category-enterprise-explains tag-debt tag-endorse tag-enterprise-explains tag-enterpriseam tag-factoring wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><a class=\"content-anchor\" id=\"tldr-story-08\"><\/a> <strong>Every investment bank in Egypt wants to be a non-bank financial services player \u2014 and plenty want to start with factoring. <\/strong>The latest entrant is Prime Holding subsidiary Prime Fintech, whose Endorse arm is spinning up factoring, financial leasing and consumer finance offerings. Mervat Erian, Prime Fintech\u2019s CEO, suggested factoring is a \u201cmuch needed and very much underplayed\u201d form of finance in Egypt. If you concede that the formal banking system has basically refused to extend real (traditional) finance to small businesses, we agree.<\/p>\n<p><strong>So we know lots of investment banks have NBFS arms that want to offer factoring. But what is factoring, exactly? <\/strong><\/p>\n<p><strong>Think of it as the <\/strong><strong><a href=\"https:\/\/enterprise.press\/stories\/2019\/03\/19\/factoring-could-provide-the-solution-to-close-the-sme-funding-gap-afreximbank\/\">second-oldest profession<\/a><\/strong><strong>.<\/strong> In the simplest possible terms? Let\u2019s say y ou\u2019re a business with uncollected receivables (invoices your clients haven\u2019t paid yet). You sell those invoices at a discount to a third party \u2014 called a factor \u2014 who goes on to collect them instead of you. You get money today by clearing out your accounts receivable, and the factor makes a profit.<\/p>\n<p><strong>It\u2019s usually a <\/strong><strong><a href=\"https:\/\/www.investopedia.com\/terms\/f\/factor.asp\">relatively expensive form<\/a><\/strong><strong> of financing<\/strong>, but if the company wants to receive <a href=\"https:\/\/tradefinanceanalytics.com\/what-is-factoring\">up to 80%<\/a> of the value of the accounts receivables quickly, rather than waiting for the length of the credit terms to receive payment, factoring could be the way to go.<\/p>\n<p><strong>Who benefits the most?<\/strong> It\u2019s particularly useful for companies that conduct a large portion of their sales through accounts receivables, who might experience cash flow shortfalls if their short-term debts exceed their sales revenue. By purchasing the customer\u2019s debt, the factor provides the company with the working capital to continue trading. This is particularly valuable for rapidly growing companies that need plenty of access to cash. It also transfers the risk of default \u2014 the risk that the customer won\u2019t pay the accounts receivables \u2014 to the factor.<\/p>\n<p><strong>And how does it work?<\/strong> A factor charges a factoring fee in exchange for quickly releasing funds to the company selling the receivables. This fee is a <a href=\"https:\/\/corporatefinanceinstitute.com\/resources\/knowledge\/accounting\/accounts-receivable-factoring\/\">percentage of the receivables<\/a>, with the rate depending on industry, the volume of receivables being collected, how long the receivables have been outstanding, and most importantly the creditworthiness of the customers paying the receivables. If the factor believes the risk of default is high, the fee charged to the company selling the receivables will be higher, while if the default risk is low, the factor fee will be lower too.<\/p>\n<p><strong>Going further:<\/strong><\/p>\n<ul>\n<li>YouTube econ channel Marketplace has an easy to digest explainer <a href=\"https:\/\/www.youtube.com\/watch?v=zNxALT0w14U\">here<\/a>.<\/li>\n<li>This piece from the <a href=\"https:\/\/guides.wsj.com\/small-business\/funding\/how-to-use-factoring-for-cash-flow\/\">Wall Street Journal<\/a> explains how small businesses can use factoring for cash flow.<\/li>\n<li>What are the risks? <a href=\"https:\/\/www.bloomberg.com\/opinion\/articles\/2020-08-17\/supply-chain-finance-is-another-potential-timebomb-for-companies?sref=mmeFTDW1\">Bloomberg<\/a> has an overview.<\/li>\n<\/ul>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/debt\/\">debt<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/endorse\/\">Endorse<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/enterprise-explains\/\">Enterprise Explains<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/factoring\/\">factoring<\/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=\"575601\" 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=\"575601\">\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\/20\/egypt-in-the-news-on-20-october-2020\/\">\r\n                            Egypt in the News on 20 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\/20\/egypt-in-the-news-on-20-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\/20\/egypt-in-the-news-on-20-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\/20\/egypt-in-the-news-on-20-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 20 October 2020&url=https:\/\/enterpriseam.com\/egypt\/2020\/10\/20\/egypt-in-the-news-on-20-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\/20\/egypt-in-the-news-on-20-october-2020\/&title=Egypt in the News on 20 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+20+October+2020+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2020%2F10%2F20%2Fegypt-in-the-news-on-20-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\/20\/egypt-in-the-news-on-20-october-2020\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-575601\" class=\"content-area-description single-story post-575601 post type-post status-publish format-standard hentry category-egypt-in-the-news tag-ancient-egypt tag-culture tag-egypt-in-the-news tag-enterpriseam tag-history tag-human-rights tag-social-media wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>Leading coverage of Egypt in the foreign press:<\/strong> Some 50 US lawmakers have <a href=\"https:\/\/khanna.house.gov\/sites\/khanna.house.gov\/files\/KhannaMcGovernBrown_SisiPoliticalPrisoners.pdf\">signed a letter<\/a> urging Egypt to release what they call prisoners of conscience. <a href=\"https:\/\/www.al-monitor.com\/pulse\/originals\/2020\/10\/egypt-congress-letter-sisi-rights-prisoners.html#ixzz6bMN6iZrL\">Al Monitor<\/a>was among the publications taking note, while <a href=\"https:\/\/www.haaretz.com\/middle-east-news\/.premium-the-predicted-death-of-an-egyptian-peace-activist-1.9245606\">Haaretz<\/a> columnist Zvi Bar\u2019el shares his memories of long-time left-wing activist Amin El Mahdi. Tabloids, meanwhile, are highlighting social media reaction to a viral video of the Egyptian police academy\u2019s graduation ceremony (<a href=\"https:\/\/www.dailymail.co.uk\/news\/article-8854453\/Bulk-like-Egyptian-Topless-beefcake-police-cadets-pose-president-graduation.html\">Daily Mail<\/a> | <a href=\"https:\/\/www.dailystar.co.uk\/news\/world-news\/egyptian-police-showcase-bizarre-stunt-22865617\">Daily Star<\/a> | <a href=\"https:\/\/sputniknews.com\/viral\/202010171080800293-worlds-strongest-policeman-egyptian-cops-graduation-show-of-strongman-feats---video\/\">Sputnik<\/a> | <a href=\"https:\/\/news.yahoo.com\/display-shirtless-egyptian-police-graduates-122541579.html?guce_referrer=aHR0cHM6Ly93d3cuZ29vZ2xlLmNvLnVrLw&guce_referrer_sig=AQAAAEEpC3Zf87xHnKtAm6NVixfh2KOrOAjFonVwfzxiGT0M09-7FdtAQCojmy7mP2spcUF9SkYLB0RJlafVkZgoQa0Bno9C6hqwuwe_0zWgaryj9LZ4LNbnEAW773QYEs-m1AQzq_OUsE7eSDDALSZhbU3zSzm3LEfNZ8QmwJQpUi6U\">Yahoo<\/a>).<\/p>\n<p><strong>We all have that friend who never texts back and apparently so did the Ancient Egyptians<\/strong>, who regularly wrote angry letters to their friends scolding them for not staying in touch, according to letters found in the village of Deir El Medina, <a href=\"https:\/\/daily.jstor.org\/how-to-fight-with-friends-in-ancient-egypt\/\">Jstor Daily<\/a> reports. In other archaeology news, UK structural experts at Cintec to<strong> save the 4,600 year-old Bent Pyramid from crumbling <\/strong>got some attention from the <a href=\"https:\/\/www.thenationalnews.com\/world\/mena\/expert-races-against-time-to-save-egypt-s-4-600-year-old-bent-pyramid-1.1096163#5\">National<\/a>.<\/p>\n<p>Finally: <strong>An Egyptian has broken the Guinness World Record for the oldest professional<\/strong><strong> football player<\/strong>, reports <a href=\"https:\/\/www.reuters.com\/article\/us-egypt-soccer\/egyptian-grandfather-becomes-worlds-oldest-soccer-pro-idUSKBN2730HW\">Reuters<\/a>. 75-year-old Ezz El Din Bahader broke the record previously held by 73-year-old Israeli goalkeeper Isaak Hayik.<\/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\/culture\/\">culture<\/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\/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\/social-media\/\">social media<\/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=\"575602\" 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=\"575602\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">6<\/div>\r\n\r\n                    <p class=\"f-graphik\">Worth Listening<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2020\/10\/20\/how-covid-19-highlighted-fawrys-importance\/\">\r\n                            How covid-19 highlighted Fawry\u2019s importance                        <\/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\/20\/how-covid-19-highlighted-fawrys-importance\/\" 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\/20\/how-covid-19-highlighted-fawrys-importance\/')\">\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\/20\/how-covid-19-highlighted-fawrys-importance\/\">\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=How covid-19 highlighted Fawry\u2019s importance&url=https:\/\/enterpriseam.com\/egypt\/2020\/10\/20\/how-covid-19-highlighted-fawrys-importance\/\">\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\/20\/how-covid-19-highlighted-fawrys-importance\/&title=How covid-19 highlighted Fawry\u2019s importance\">\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=How+covid-19+highlighted+Fawry%E2%80%99s+importance+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2020%2F10%2F20%2Fhow-covid-19-highlighted-fawrys-importance%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\/20\/how-covid-19-highlighted-fawrys-importance\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2020\/10\/207.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"575603\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2020\/10\/20\/how-covid-19-highlighted-fawrys-importance\/207-jpg-10\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2020\/10\/207.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"207.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2020\/10\/207.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2020\/10\/207.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-575602\" class=\"content-area-description single-story post-575602 post type-post status-publish format-standard has-post-thumbnail hentry category-worth-listening tag-covid-19 tag-enterpriseam tag-fawry tag-pandemic tag-worth-listening wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>Middle-aged entrepreneurs and folks dreaming of starting their own business will want to <\/strong><strong>tune in to Making it, our interview show on building a great business in Egypt <\/strong>to hear the story of Fawry founder and CEO Ashraf Sabry. Fawry has shined during the pandemic as demand for contactless payment spiked amid lockdowns and health and safety concerns. The company debuted on the EGX in 2019, and earlier this year became the first Egyptian tech company to hit a market cap of USD 1 bn. Over 29 mn customers across the country use the platform to pay their bills.<\/p>\n<p><strong>You already have a podcast app on your iPhone <\/strong>\u2014 <a href=\"https:\/\/apple.co\/3jTjwvT\">tap or click here<\/a> to listen using it. Or you can listen on <a href=\"https:\/\/bit.ly\/2H0BGNX\">our website<\/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\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/covid-19\/\">covid-19<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/fawry\/\">Fawry<\/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\/worth-listening\/\">WORTH LISTENING<\/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=\"575604\" 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=\"575604\">\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\">Worth watching<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2020\/10\/20\/how-china-and-russia-are-using-vaccines-to-exert-soft-power\/\">\r\n                            How China and Russia are using vaccines to exert soft power                        <\/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\/20\/how-china-and-russia-are-using-vaccines-to-exert-soft-power\/\" 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\/20\/how-china-and-russia-are-using-vaccines-to-exert-soft-power\/')\">\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\/20\/how-china-and-russia-are-using-vaccines-to-exert-soft-power\/\">\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=How China and Russia are using vaccines to exert soft power&url=https:\/\/enterpriseam.com\/egypt\/2020\/10\/20\/how-china-and-russia-are-using-vaccines-to-exert-soft-power\/\">\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\/20\/how-china-and-russia-are-using-vaccines-to-exert-soft-power\/&title=How China and Russia are using vaccines to exert soft power\">\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=How+China+and+Russia+are+using+vaccines+to+exert+soft+power+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2020%2F10%2F20%2Fhow-china-and-russia-are-using-vaccines-to-exert-soft-power%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\/20\/how-china-and-russia-are-using-vaccines-to-exert-soft-power\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2020\/10\/208.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"575605\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2020\/10\/20\/how-china-and-russia-are-using-vaccines-to-exert-soft-power\/208-jpg-11\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2020\/10\/208.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"208.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2020\/10\/208.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2020\/10\/208.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-575604\" class=\"content-area-description single-story post-575604 post type-post status-publish format-standard has-post-thumbnail hentry category-worth-watching tag-china tag-covid-19 tag-diplomacy tag-enterpriseam tag-health tag-pandemic tag-politics tag-russia tag-sputnik-v tag-trade tag-worth-watching wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>How China and Russia are using vaccines to exert soft power: <\/strong>While in the US and Europe the vaccine dash has been largely driven by the private pharma companies, China and Russia have adopted a state-led approach, giving the government say over development and export decisions. A parallel (and less glamorous) version of the space race, Beijing and Moscow have been scrambling to release a vaccine ahead of their Western rivals, fast-tracking the regulatory process to the consternation of health experts. That headstart could pay dividends, argues the Wall Street Journal (<a href=\"https:\/\/bit.ly\/3ocGtNl\">watch, runtime: 06:11<\/a>), potentially handing the powers political sway, financial leverage, and global prestige as the saviors of the pandemic. China is distributing vaccines to neighboring countries in a bid to make peace over past border disputes while Russia is targeting oil-rich countries in the Middle East to expand its trade and energy links.<\/p>\n<p><strong>Egypt is in line for Russia\u2019s Sputnik V vaccine and is testing China\u2019s vaccine locally: <\/strong>Egypt <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/929937e3-48cf-4b35-a353-bfdacfd80b6a\">inked an agreement<\/a> with Moscow to distribute 25 mn doses of the vaccine through Pharco while a Chinese-developed vaccine is currently <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/87041222-44f1-4509-95ff-e7df22dc27cd\">in phase three clinical trials<\/a> in Egypt. Western analysts have raised concerns over the efficacy and safety of both vaccines, but over 50 countries have put in early requests for the shots.<\/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\/china\/\">China<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/covid-19\/\">covid-19<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/diplomacy\/\">DIPLOMACY<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/health\/\">health<\/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\/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\/sputnik-v\/\">Sputnik V<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/trade\/\">trade<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/worth-watching\/\">worth watching<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"575606\" 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=\"575606\">\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\">Energy<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2020\/10\/20\/egyptian-saudi-electricity-project-tender-results-to-be-announced-in-1h2021\/\">\r\n                            Egyptian-Saudi electricity project tender results to be announced in 1H2021                        <\/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\/20\/egyptian-saudi-electricity-project-tender-results-to-be-announced-in-1h2021\/\" 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\/20\/egyptian-saudi-electricity-project-tender-results-to-be-announced-in-1h2021\/')\">\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\/20\/egyptian-saudi-electricity-project-tender-results-to-be-announced-in-1h2021\/\">\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-Saudi electricity project tender results to be announced in 1H2021&url=https:\/\/enterpriseam.com\/egypt\/2020\/10\/20\/egyptian-saudi-electricity-project-tender-results-to-be-announced-in-1h2021\/\">\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\/20\/egyptian-saudi-electricity-project-tender-results-to-be-announced-in-1h2021\/&title=Egyptian-Saudi electricity project tender results to be announced in 1H2021\">\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-Saudi+electricity+project+tender+results+to+be+announced+in+1H2021+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2020%2F10%2F20%2Fegyptian-saudi-electricity-project-tender-results-to-be-announced-in-1h2021%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\/20\/egyptian-saudi-electricity-project-tender-results-to-be-announced-in-1h2021\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-575606\" class=\"content-area-description single-story post-575606 post type-post status-publish format-standard hentry category-energy tag-eetc tag-electricity tag-energy tag-enterpriseam tag-saudi-arabia wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p>The Egyptian Electricity Transmission Company (EETC) will announce the winner of the Egyptian-Saudi electricity interconnection project tender in the first half of 2021, the <a href=\"https:\/\/www.alborsaanews.com\/2020\/10\/18\/1391684\">local press<\/a> reports, citing sources at the company. EETC expects to complete analysis of the technical bids in December. Companies that have submitted offers include ElSewedy Electric, Hyundai, China\u2019s State Grid Corporation, Swedish NCC, Indian firms L&T and Kalpataru, and America\u2019s KES. The USD 1.6 bn project was originally supposed to go live this year but was <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/9db02a9e-375b-4bc9-b5cb-0817341e19a3\">pushed back to 2023<\/a> due to Saudi Arabia\u2019s USD 500 bn futuristic city project, Neom. The cable routes extend 25 km across the sea bed, and will allow the two countries to <a href=\"https:\/\/enterprise.press\/stories\/2018\/12\/12\/egypt-saudi-power-grid-interconnection-partly-operational-september-2021\/\">exchange up to 3 GW<\/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\/eetc\/\">EETC<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/electricity\/\">electricity<\/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\/saudi-arabia\/\">Saudi Arabia<\/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=\"575607\" 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=\"575607\">\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\">Basic Materials + Commodities<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2020\/10\/20\/egypts-farmers-call-for-cotton-subsidies-as-low-prices-bite\/\">\r\n                            Egypt\u2019s farmers call for cotton subsidies as low prices bite                        <\/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\/20\/egypts-farmers-call-for-cotton-subsidies-as-low-prices-bite\/\" 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\/20\/egypts-farmers-call-for-cotton-subsidies-as-low-prices-bite\/')\">\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\/20\/egypts-farmers-call-for-cotton-subsidies-as-low-prices-bite\/\">\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\u2019s farmers call for cotton subsidies as low prices bite&url=https:\/\/enterpriseam.com\/egypt\/2020\/10\/20\/egypts-farmers-call-for-cotton-subsidies-as-low-prices-bite\/\">\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\/20\/egypts-farmers-call-for-cotton-subsidies-as-low-prices-bite\/&title=Egypt\u2019s farmers call for cotton subsidies as low prices bite\">\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%E2%80%99s+farmers+call+for+cotton+subsidies+as+low+prices+bite+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2020%2F10%2F20%2Fegypts-farmers-call-for-cotton-subsidies-as-low-prices-bite%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\/20\/egypts-farmers-call-for-cotton-subsidies-as-low-prices-bite\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-575607\" class=\"content-area-description single-story post-575607 post type-post status-publish format-standard hentry category-basic-materials-commodities tag-basic-materials-commodities tag-commodities tag-enterpriseam tag-trade wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p>Cotton traders are demanding the government provide subsidies to farmers worth EGP 200-300 per qintar to offset the low prices created by the <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/b78c816d-20e5-4214-af2a-62bc8fe99a67\">new public auction system<\/a>, reports <a href=\"https:\/\/bit.ly\/3o3Bsq4\">Al Mal<\/a>. Member of the Egyptian Cotton Union Mahmoud Farouk said prices had been driven down to an average of EGP 1.8k per qintar, compared to a range of EGP 1.8-2.1k in 2019. The new system, which has seen private-sector companies <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/e82d2b97-6673-4601-bed0-904b8ead265e\">purchase nearly 40k qintars<\/a> since its <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/b78c816d-20e5-4214-af2a-62bc8fe99a67\">introduction in September<\/a>, is being used in Fayoum, Beni Suef, Beheira and Sharqia before being <a href=\"https:\/\/www.youm7.com\/story\/2020\/10\/18\/%D9%88%D8%B2%D9%8A%D8%B1-%D9%82%D8%B7%D8%A7%D8%B9-%D8%A7%D9%84%D8%A3%D8%B9%D9%85%D8%A7%D9%84-%D8%AA%D8%B9%D9%85%D9%8A%D9%85-%D9%85%D8%B2%D8%A7%D8%AF%D8%A7%D8%AA-%D8%A7%D9%84%D9%82%D8%B7%D9%86-%D8%B9%D9%84%D9%89-%D9%83%D9%84-%D8%A7%D9%84%D9%85%D8%AD%D8%A7%D9%81%D8%B8%D8%A7%D8%AA-%D8%A7%D9%84%D8%B9%D8%A7%D9%85\/5026945\">rolled out across the country<\/a> 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\/basic-materials-commodities\/\">Basic Materials + Commodities<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\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\/trade\/\">trade<\/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=\"575608\" 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=\"575608\">\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\">Manufacturing<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2020\/10\/20\/1-6k-industrial-units-allocated-to-small-investors\/\">\r\n                            1.6k industrial units allocated to small investors                        <\/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\/20\/1-6k-industrial-units-allocated-to-small-investors\/\" 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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Units are available for rent or sale.<\/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\/manufacturing\/\">Manufacturing<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/nevine-gamea\/\">Nevine Gamea<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/smes\/\">SMEs<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/trade-and-industry-ministry\/\">Trade and Industry Ministry<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"575609\" 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=\"575609\">\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\">Health + Education<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2020\/10\/20\/four-banks-offer-egp-800-mn-to-support-eipico-cancer-treatment-project\/\">\r\n                            Four banks offer EGP 800 mn to support EIPICO cancer treatment 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\/20\/four-banks-offer-egp-800-mn-to-support-eipico-cancer-treatment-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\/20\/four-banks-offer-egp-800-mn-to-support-eipico-cancer-treatment-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\/20\/four-banks-offer-egp-800-mn-to-support-eipico-cancer-treatment-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=Four banks offer EGP 800 mn to support EIPICO cancer treatment project&url=https:\/\/enterpriseam.com\/egypt\/2020\/10\/20\/four-banks-offer-egp-800-mn-to-support-eipico-cancer-treatment-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\/20\/four-banks-offer-egp-800-mn-to-support-eipico-cancer-treatment-project\/&title=Four banks offer EGP 800 mn to support EIPICO cancer treatment 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=Four+banks+offer+EGP+800+mn+to+support+EIPICO+cancer+treatment+project+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2020%2F10%2F20%2Ffour-banks-offer-egp-800-mn-to-support-eipico-cancer-treatment-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\/20\/four-banks-offer-egp-800-mn-to-support-eipico-cancer-treatment-project\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-575609\" class=\"content-area-description single-story post-575609 post type-post status-publish format-standard hentry category-health-education tag-debt tag-eipico tag-enterpriseam tag-health-education tag-pharma wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p>The Egyptian International Pharmaceutical Industries (EIPICO) has received four offers from banks to provide a EGP 800 mn loan to part finance its cancer treatment project dubbed EIPICO 3, Chairman Ahmed Kilani told <a href=\"https:\/\/bit.ly\/31kcQ2x\">Al Mal<\/a>. The <a href=\"https:\/\/www.egx.com.eg\/downloads\/Bulletins\/252548_1.pdf\">EGP 1.2 bn (pdf)<\/a> project is the first of its kind in Egypt and will produce medical products to treat cancers and hormonal s<\/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\/debt\/\">debt<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/eipico\/\">Eipico<\/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                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/pharma\/\">pharma<\/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=\"575611\" 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=\"575611\">\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\">Automotive + Transportation<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2020\/10\/20\/al-salam-tenth-of-ramadan-light-rail-to-open-october-2021\/\">\r\n                            Al Salam-Tenth of Ramadan light rail to open October 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                <a href=\"https:\/\/enterpriseam.com\/egypt\/2020\/10\/20\/al-salam-tenth-of-ramadan-light-rail-to-open-october-2021\/\" 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\/20\/al-salam-tenth-of-ramadan-light-rail-to-open-october-2021\/')\">\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\/20\/al-salam-tenth-of-ramadan-light-rail-to-open-october-2021\/\">\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=Al Salam-Tenth of Ramadan light rail to open October 2021&url=https:\/\/enterpriseam.com\/egypt\/2020\/10\/20\/al-salam-tenth-of-ramadan-light-rail-to-open-october-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\/20\/al-salam-tenth-of-ramadan-light-rail-to-open-october-2021\/&title=Al Salam-Tenth of Ramadan light rail to open October 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=Al+Salam-Tenth+of+Ramadan+light+rail+to+open+October+2021+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2020%2F10%2F20%2Fal-salam-tenth-of-ramadan-light-rail-to-open-october-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\/20\/al-salam-tenth-of-ramadan-light-rail-to-open-october-2021\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-575611\" class=\"content-area-description single-story post-575611 post type-post status-publish format-standard hentry category-automotive-transportation tag-automotive-transportation tag-enterpriseam tag-transport wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p>The planned Al Salam City-new capital-Tenth of Ramadan City light rail will begin trial operations in August 2021 before launching in October 2021, Transport Minister Kamel El Wazir said, according to <a href=\"https:\/\/www.almasryalyoum.com\/news\/details\/2065634\">\u0650<\/a><a href=\"https:\/\/www.almasryalyoum.com\/news\/details\/2065634\">Al Masry Al Youm<\/a> reports. The 90-km, 16-station electric line will serve up to 500k passengers a day.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/automotive-transportation\/\">Automotive + Transportation<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/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=\"575612\" 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=\"575612\">\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\/20\/google-doodle-celebrates-110th-birthday-of-farid-al-atrash\/\">\r\n                            Google Doodle celebrates 110th birthday of Farid Al Atrash                        <\/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 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href=\"https:\/\/www.facebook.com\/sharer.php?u=https:\/\/enterpriseam.com\/egypt\/2020\/10\/20\/google-doodle-celebrates-110th-birthday-of-farid-al-atrash\/\">\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=Google Doodle celebrates 110th birthday of Farid Al Atrash&url=https:\/\/enterpriseam.com\/egypt\/2020\/10\/20\/google-doodle-celebrates-110th-birthday-of-farid-al-atrash\/\">\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\/20\/google-doodle-celebrates-110th-birthday-of-farid-al-atrash\/&title=Google Doodle celebrates 110th birthday of Farid Al Atrash\">\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=Google+Doodle+celebrates+110th+birthday+of+Farid+Al+Atrash+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2020%2F10%2F20%2Fgoogle-doodle-celebrates-110th-birthday-of-farid-al-atrash%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\/20\/google-doodle-celebrates-110th-birthday-of-farid-al-atrash\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2020\/10\/209.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"575613\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2020\/10\/20\/google-doodle-celebrates-110th-birthday-of-farid-al-atrash\/209-jpg-19\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2020\/10\/209.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"209.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2020\/10\/209.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2020\/10\/209.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-575612\" class=\"content-area-description single-story post-575612 post type-post status-publish format-standard has-post-thumbnail hentry category-on-your-way-out tag-enterpriseam tag-google tag-music wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong><a href=\"https:\/\/www.google.com\/doodles\/farid-al-atrashs-110th-birthday\">Google<\/a><\/strong><strong> featured a Doodle of the King of the Oud, Farid Al Atrash, in honor of what would have been <\/strong><strong>his 110th birthday yesterday.<\/strong> Al Atrash was Syrian-born, but lived most of his life and achieved fame in Egypt, where he worked as a composer, singer, instrumentalist, actor, and film producer.<\/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\/google\/\">Google<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/music\/\">music<\/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=\"575614\" 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=\"575614\">\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\/20\/the-market-yesterday-192\/\">\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\/20\/the-market-yesterday-192\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" 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Yesterday&url=https:\/\/enterpriseam.com\/egypt\/2020\/10\/20\/the-market-yesterday-192\/\">\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\/20\/the-market-yesterday-192\/&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%2F20%2Fthe-market-yesterday-192%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\/20\/the-market-yesterday-192\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-575614\" class=\"content-area-description single-story post-575614 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> (Monday): 11,171 (-0.1%)<br \/>\n <strong>Turnover:<\/strong> EGP 913 mn (18% below the 90-day average)<br \/>\n <strong>EGX 30 year-to-date<\/strong>: -19.9%<\/p>\n<p><strong>THE MARKET ON MONDAY:<\/strong> The EGX30 ended Monday\u2019s session down 0.1%. CIB, the index\u2019s heaviest constituent, ended down 0.6%. EGX30\u2019s top performing constituents were Madinet Nasr Housing up 2.4%, CIRA up 1.8%, and GB Auto up 1.7%. Yesterday\u2019s worst performing stocks were Egyptian Iron & Steel down 2.0%, Sidi Kerir Petrochemicals down 1.8% and Dice down 1.6%. The market turnover was EGP 913 mn, and regional investors were the sole net buyers.<\/p>\n<p><strong>Foreigners<\/strong>: Net Short | EGP -11.8 mn<br \/>\n <strong>Regional<\/strong>: Net Long | EGP +28.4 mn<br \/>\n <strong>Domestic<\/strong>: Net Short | EGP -16.6 mn<\/p>\n<p><strong>Retail<\/strong>: 78.0% of total trades | 78.3% of buyers | 77.7% of sellers<br \/>\n <strong>Institutions<\/strong>: 22.0% of total trades | 21.7% of buyers | 22.3% of sellers<\/p>\n<p><strong>WTI:<\/strong> USD 40.83 (-0.12%)<br \/>\n <strong>Brent:<\/strong> USD 42.44 (-1.14%)<\/p>\n<p><strong>Natural Gas:<\/strong> (Nymex, futures prices) USD 2.80 MMBtu (+0.79%, November 2020 contract)<br \/>\n <strong>Gold:<\/strong> USD 1,911.70 \/ troy ounce (+0.28%)<\/p>\n<p><strong>TASI:<\/strong> 8,547.61 (-0.15%) (YTD: +1.89%)<br \/>\n <strong>ADX:<\/strong> 4,559.55 (+0.28%) (YTD: -10.17%)<br \/>\n <strong>DFM:<\/strong> 2,208.81 (+1.26%) (YTD: -20.11%)<br \/>\n <strong>KSE Premier Market:<\/strong> 6,218.92 (-1.52%)<br \/>\n <strong>QE:<\/strong> 9,999.66 (-0.10%) (YTD: -4.08%)<br \/>\n <strong>MSM:<\/strong> 3,588.56 (-0.39%) (YTD: -9.86%)<br \/>\n <strong>BB: <\/strong>1,461.08 (-1.07%) (YTD: -9.26%)<\/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=\"575615\" 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\/20\/575615\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-575615\" class=\"content-area-description single-story post-575615 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&eacute; 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>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":575580,"menu_order":0,"template":"","categories":[],"tags":[],"class_list":["post-575579","issue","type-issue","status-publish","has-post-thumbnail","hentry","wpautop","entry"],"acf":{"mongo_id":"f336303c-d6ab-4c49-b6ab-5dc99a502f99","teaser":"","photo_url":"https:\/\/ent.news\/2020\/10\/200.jpg"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - 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