{"id":575625,"date":"2020-10-21T04:02:32","date_gmt":"2020-10-21T04:02:32","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/?post_type=issue&#038;p=575625"},"modified":"2025-12-16T10:23:24","modified_gmt":"2025-12-16T10:23:24","slug":"are-you-ready-for-the-rainapocalypse","status":"publish","type":"issue","link":"https:\/\/enterpriseam.com\/egypt\/issues\/are-you-ready-for-the-rainapocalypse\/","title":{"rendered":"Are you ready for the rainapocalypse?"},"content":{"rendered":"<section id=\"575627\" 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=\"575627\">\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\/21\/what-were-tracking-on-21-october-2020\/\">\r\n                            What we\u2019re tracking on 21 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\/21\/what-were-tracking-on-21-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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(In fact, some of us may be those people\u2026)<\/p><p><strong>We\u2019ve got a six-day stretch of bad weather ahead of us, with rainfall expected to peak on<\/strong><strong> Friday<\/strong>, head of the Irrigation Ministry\u2019s planning department Iman Sayed told Masaa DMC\u2019s Ramy Radwan last night. The weather should end on Sunday, but floods are expected in Sinai\u2019s mountainous and desert areas, she said (<a href=\"https:\/\/www.youtube.com\/watch?v=RHk37kXVREA&amp;t=224s\">watch, runtime: 11:21<\/a>).<\/p><p><strong>Don\u2019t panic, though:<\/strong> It\u2019s not expected to be as bad as March\u2019s \u201c<a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/bc24c7bd-828e-46db-af66-b2eeb122a3d8\">dragon storm<\/a>,\u201d director of the Egyptian Meteorological Authority\u2019s forecast center Mahmoud Shahin told Al Hayah Al Youm\u2019s Mohamed Sherdy (<a href=\"https:\/\/www.youtube.com\/watch?v=HU_94DYyErs\">watch, runtime: 4:08<\/a>).<\/p><p><strong>Oh, and our favorite weather app? <\/strong>It\u2019s calling for clear skies for the next 10 days. Still: <a href=\"https:\/\/www.youtube.com\/watch?reload=9&amp;v=T2QApwtE8zQ\">Let\u2019s<\/a><a href=\"https:\/\/www.youtube.com\/watch?reload=9&amp;v=T2QApwtE8zQ\">be careful out there.<\/a><\/p><p><strong>But if there is a deluge? National and government schools could get a day off on <\/strong><strong>Saturday<\/strong> if heavy rainfall calls for it Cabinet spokesperson Nader Saad told Ala Mas\u2019ouleety\u2019s Ahmed Moussa (<a href=\"https:\/\/www.youtube.com\/watch?v=3F4rQFFRO10\">watch, runtime: 10:48<\/a>).<\/p><p><a class=\"content-anchor\" id=\"tldr-story-04\"><\/a> <strong>Meanwhile, some very nice news courtesy of our friends at the central bank:<\/strong> Foreign holdings of Egyptian treasury bills ticked up for the third consecutive month in August, edging up to USD 13.3 bn from USD 10.8 bn in July, according to the CBE\u2019s <a href=\"https:\/\/www.cbe.org.eg\/_layouts\/download.aspx?SourceUrl=%2FMonthlyStatisticaclBulletinDL%2FBulletin_282_Sep.2020.pdf\">latest monthly statistical bulletin<\/a> (pdf \u2014 pp. 113, table 38). Net inflows increased in June for the first time since February, and continued on an upward trajectory <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/0d55bdd1-993f-443b-a24e-156cf7a367b5\">in July<\/a>, suggesting foreign investors have chilled out after having exited Egypt during a wider flight from emerging markets early during the pandemic.<\/p><hr class=\"grey-line\"><p><strong>Voters abroad begin casting their ballots today to elect a new House of 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>If you\u2019re voting here at home, you can find your polling station<\/strong> by putting your national ID number on the National Elections Authority\u2019s <a href=\"http:\/\/www.elections.eg\/\">website<\/a>.<\/p><p><strong>Furniture expo <\/strong><strong><a href=\"https:\/\/bit.ly\/347ejLx\">Le March\u00e9<\/a><\/strong><strong> begins tomorrow<\/strong> and will run until Sunday, 25 October at the Egypt International Exhibition Center.<\/p><p><strong>AmCham Egypt, AmCham Cyprus, and AmCham Greece are signing a trade, investment,<\/strong><strong> and business promotion MoU<\/strong> today at 2pm CLT. US Ambassador to Egypt Jonathan Cohen and the US Chamber of Commerce\u2019s Executive Vice President Myron Brilliant are expected to speak at the event. You can watch the signing of the agreement via a live broadcast <a href=\"https:\/\/www.livemedia.gr\/amchamsmou2020\">here<\/a>.<\/p><p><strong>The Gouna Film Festival kicks off on Friday<\/strong> and wraps at the end of the month. <a href=\"https:\/\/www.yahoo.com\/entertainment\/egypt-el-gouna-fest-hopes-155641585.html\">Variety<\/a> suggests this year\u2019s iteration of the festival will mark a new beginning for Middle Eastern cinema post-covid.<\/p><p><strong>Three things to keep on your radar:<\/strong><\/p><p><strong>#1- For bankers and PE types: ADQ. <\/strong>That\u2019s the Abu Dhabi investment firm that\u2019s been making a splash in the past month with investments real and rumored in Egypt and the wider region. <strong>It now wants to set up a digital bank<\/strong> and has <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2020-10-20\/abu-dhabi-s-adq-to-form-digital-bank-with-545-million-capital?sref=mmeFTDW1\">acquired a license<\/a> to do just that from First Abu Dhabi Bank.<\/p><p><strong>#2- Could you fully audit your staff\u2019s interaction with a client? <\/strong>Probably not, given how much of it happens on channels like WhatsApp, where you have exactly zero visibility. We\u2019re half a decade behind the west on how to regulate stuff like this, as underscored by the recent firing of two top commodities traders at Morgan Stanley. <strong>The firing offense? <\/strong><strong><a href=\"https:\/\/www.ft.com\/content\/818b960b-60e0-44a9-9ea4-72bab605c2d0\">Using WhatsApp to talk to clients<\/a><\/strong> \u2014 even though a probe found no evidence they did anything wrong on El Whats.<\/p><p><strong>#3- For the iSheep among us, reviews of the new iPhones are trickling out.<\/strong> Well, half of the new iPhones: The iPhone 12 and iPhone 12 Pro are out now, but the iPhone 12 mini and the iPhone 12 Pro Max will only follow next month (thank you, covid). We suggest you start with <a href=\"https:\/\/techcrunch.com\/2020\/10\/20\/review-iphone-12-and-iphone-12-pro-two-gems-one-jewel\/\">TechCrunch boss Matt Panzarino\u2019s piece<\/a>, then check out <a href=\"https:\/\/www.wsj.com\/articles\/iphone-12-and-iphone-12-pro-review-the-best-iphonesbut-not-for-the-5g-11603198919?mod=hp_lead_pos11\">Joanna Stern\u2019s take at the WSJ<\/a>.<\/p><p class=\"web-image\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2020\/10\/VolkhardWindfuhr-1600px.jpg?ssl=1\" alt=\"enterprise\"><\/p><p><strong>Volkhard Windfuhr, t<\/strong><strong>he dean of foreign correspondents in Egypt, passed away on<\/strong> <strong>Monday aged 83<\/strong> after a long illness, according to an <a href=\"https:\/\/ent.news\/2020\/10\/Volkhard-Windfuhr-.pdf\">emailed statement<\/a> from the State Information Service. Volkhard was without question the longest-serving foreign correspondent in Egypt \u2014 and probably the wider Arab world \u2014 and was simply a dude. Volkhard moved to Cairo as a kid when his widowed mother took a teaching job here in the early 1950s, and he graduated high school with a working knowledge of Arabic that he perfected over the following years. He was with German magazine Spiegel since the 1970s, reporting on everything from Sadat\u2019s trip to Jerusalem to 9\/11 by way of the civil war in Lebanon and the downfall of the shah in Iran. The head of the Foreign Press Association since 1994, Volkhard was awarded the First Class Order of Merit <a href=\"https:\/\/www.sis.gov.eg\/Story\/142855\/Sisi-bestows-order-of-merit-on-Foreign-Press-Association-chief-Official?lang=en-us\">last year<\/a> by President Abdel Fattah El Sisi and Germany\u2019s Federal Cross of Merit in 2002. His funeral is today at the German Cemetery in Old Cairo.<\/p><hr class=\"grey-line\"><p><strong>The Health Ministry <\/strong><strong><a href=\"https:\/\/www.facebook.com\/113432613540693\/posts\/233049721578981\/?extid=0&amp;d=n\">reported<\/a><\/strong><strong> 158 new covid-19 infections yesterday<\/strong>, up from 123 the day before. Egypt has now disclosed a total of 105,705 confirmed cases of covid-19. The ministry also reported 12 new deaths, bringing the country\u2019s total death toll to 6,142. We now have a total of 98,413 confirmed cases that have fully recovered.<\/p><p><strong>The Sisi administration has lined up sufficient doses of potential covid-19 vaccines to <\/strong><strong>ensure that it can rapidly vaccinae a fifth of the population<\/strong>, including healthcare workers and people with chronic illnesses, including heart disease and compromised immune systems, presidential health advisor Mohamed Awad Tag Eldin said yesterday, according to <a href=\"https:\/\/bit.ly\/37rJcfE\">Al Mal<\/a>. Russia\u2019s sovereign wealth fund <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/929937e3-48cf-4b35-a353-bfdacfd80b6a\">said last month<\/a> that it alone would provide its Sputnik V vaccine to around a quarter of the population.<\/p><p><strong>Weekly charter flights from Spain to Luxor could be up and running by the end of<\/strong> <strong>the year<\/strong>. The group is also <a href=\"https:\/\/bit.ly\/3jfVKJh\">reportedly looking<\/a> to set up flights that will take travelers from Aswan to Cairo as part of a week-long tour of Egypt.<\/p><p><strong>Travelers from Canada, Tunisia and Georgia might soon be unable to travel to the<\/strong><strong> EU<\/strong> as Brussels considers shrinking its travel whitelist to just nine countries, <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2020-10-20\/eu-may-shut-door-to-travel-from-canada-allow-singapore-visitors?sref=mmeFTDW1\">Bloomberg<\/a> reports, citing EU officials.<\/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>T<\/strong><strong>he US filed an antitrust lawsuit against Google yesterday<\/strong>, targeting the tech giant\u2019s search advertising business in the most significant antitrust action in the US in at least two decades. While being a monopoly is not in itself illegal in the US, critics argue Google\u2019s search engines, and its Android mobile operating system, give it unfair advantages over rivals. The case is the first in what is shaping up to be a series of antitrust actions that also target Apple, Facebook, and Amazon: <strong><a href=\"https:\/\/www.reuters.com\/article\/us-japan-economy-ftc\/japan-to-join-forces-with-u-s-europe-in-regulating-big-tech-firms-antitrust-watchdog-head-idUSKBN2740DZ\">Japan<\/a><\/strong> is working on a new way to regulate the \u201cGAFA\u201d companies (Google, Amazon, Facebook and Apple) <strong>and <\/strong><strong><a href=\"https:\/\/www.ft.com\/content\/9d60adef-8581-43b3-8fd5-312b0e172a42\">the UK<\/a><\/strong> could investigate Google and Facebook next year<strong>.<\/strong><\/p><p><strong>The story leads headlines in much of the foreign press:<\/strong> <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2020-10-20\/google-accused-by-u-s-of-abusing-market-power-in-landmark-case?srnd=premium-europe&amp;sref=mmeFTDW1\">Bloomberg<\/a> | <a href=\"https:\/\/www.ft.com\/content\/f8b2def2-0cb0-4a2d-941d-b965f6037dbb\">Financial Times<\/a> | <a href=\"https:\/\/www.washingtonpost.com\/technology\/2020\/10\/20\/google-antitrust-doj-lawsuit\">Washington Post<\/a> | <a href=\"https:\/\/www.nytimes.com\/2020\/10\/20\/technology\/google-antitrust.html?action=click&amp;module=Top%20Stories&amp;pgtype=Homepage\">New York Times<\/a> | <a href=\"https:\/\/apnews.com\/article\/google-justice-department-antitrust-0510e8f9047956254455ec5d4db06044\">Associated Press<\/a> | <a href=\"https:\/\/www.reuters.com\/article\/us-tech-antitrust-google\/u-s-says-google-breakup-may-be-needed-to-end-violations-of-antitrust-law-idUSKBN2751OC\">Reuters<\/a>.<\/p><p><strong>Silicon Valley-based fintech company <\/strong><strong><a href=\"https:\/\/magiccube.co\">MagicCube<\/a><\/strong><strong> \u2014 founded by Egyptian power couple <\/strong><strong>Nancy Zayed and Sam Shawki \u2014 has <\/strong><strong><a href=\"https:\/\/www.prnewswire.com\/news-releases\/magiccube-unveils-i-accept-the-worlds-first-software-based-replacement-for-traditional-payment-terminals-supporting-tappin-for-all-four-major-card-networks-301154468.html\">unveiled<\/a><\/strong><strong> their new product<\/strong>, <strong>i-Accept<\/strong>, which acts as a software-based replacement for traditional payment terminals. The product paves the way for increased financial inclusion and contactless payments by providing smaller merchants a cheaper alternative to buying and subsidizing the single-function card acceptance hardware devices. The application is currently functioning on Android and supports American Express, Discover, Mastercard and Visa. You can request a demo <a href=\"https:\/\/magiccube.co\/iaccept\/\">here<\/a>.<\/p><p><strong>You can learn more about MagicCube and the company\u2019s awesome founders in an <\/strong><strong>upcoming episode of Making It<\/strong>, our podcast on how to build a great business in Egypt.<\/p><p class=\"web-image\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2020\/1\/Web-view-01.jpg?ssl=1\" alt=\"enterprise\"><\/p><p><strong>*** It\u2019s Hardhat day \u2014 your weekly briefing of all things infrastructure in Egypt:<\/strong> Enterprise\u2019s industry vertical focuses each Wednesday on infrastructure, covering everything from energy, water, transportation, urban development and as well as social infrastructure such as health and education.<\/p><p><strong>In today\u2019s issue: <\/strong>Part two of our series on the Giza Pyramids Plateau\u2019s development looks at what it took to develop the infrastructure of the area.<\/p>\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\/canada\/\">Canada<\/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\/eu\/\">EU<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/europe\/\">Europe<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" 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<\/div>\r\n<\/section> \r\n\r\n\n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"575629\" 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=\"575629\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">2<\/div>\r\n\r\n                    <p class=\"f-graphik\">Enterprise+: Last Night\u2019s Talk Shows<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2020\/10\/21\/egypts-talk-shows-mahmoud-mohieldin-on-the-imf-board-expat-vote-in-house-elex\/\">\r\n                            Egypt\u2019s talk shows: Mahmoud Mohieldin on the IMF board + expat vote in House elex                        <\/a>\r\n                    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class=\"content-area-description single-story post-575629 post type-post status-publish format-standard hentry category-enterprise-last-nights-talk-shows tag-enterprise-last-nights-talk-shows tag-enterpriseam tag-house-of-representatives tag-imf tag-mahmoud-mohieldin wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>Aside from the rainfall we\u2019re expecting over the next few days, veteran economist <\/strong><strong>Mahmoud Mohieldin\u2019s appointment to the IMF executive board<\/strong> was the most popular topic on the airwaves last night.<\/p>\n<p><strong>Mohieldin made the rounds on the airwaves to talk about his responsibilities as a board member<\/strong>, including representing the interests of Egypt and the Arab world in terms of monetary and fiscal policies. The pandemic is expected to have long-lasting effects on the global economy, particularly with a significant slowdown in growth, and an anticipated uptick in unemployment and debt levels, all of which will be priority areas for the IMF to address throughout this year and next, Mohieldin told Kelma Akhira\u2019s Lamees El Hadidi (<a href=\"https:\/\/www.youtube.com\/watch?v=VyKIE502Esw&t=162s\">watch, runtime: 10:30<\/a>). He also stressed the importance of Egypt\u2019s continued support of the healthcare sector to be able to cope with a potential second wave of infections, as well as an extension of fiscal support measures to help keep the economy afloat and allow the private sector to lead the rebound in growth in separate phone-ins with Masaa DMC\u2019s Ramy Radwan <a href=\"https:\/\/www.youtube.com\/watch?v=k68Xz2MO2uA&t=290s\">(watch, runtime: 18:49<\/a>) and Al Hayah Al Youm\u2019s Mohamed Sherdy (<a href=\"https:\/\/www.youtube.com\/watch?v=yOhfRHbKYZw\">watch, runtime: 17:05<\/a>).<\/p>\n<p>Meanwhile, <strong>the beginning of the House of Representatives election for Egyptians abroad today <\/strong>was Emigration Minister Nabila Makram Ebeid\u2019s key talking point as she explained the process to Sherdy (<a href=\"https:\/\/www.youtube.com\/watch?v=RRWm6dI0GAc\">watch, runtime: 19:59<\/a>) and Radwan (<a href=\"https:\/\/www.youtube.com\/watch?v=UoesdXbJ3wY&t=138s\">watch, runtime: 9:05<\/a>)<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/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\/house-of-representatives\/\">House of Representatives<\/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\/mahmoud-mohieldin\/\">Mahmoud Mohieldin<\/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=\"575630\" 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=\"575630\">\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\/21\/israel-uae-open-talks-over-new-oil-route-threatening-egypts-shipping-business\/\">\r\n                            Israel, UAE open talks over new oil route, threatening Egypt\u2019s shipping business                        <\/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\/21\/israel-uae-open-talks-over-new-oil-route-threatening-egypts-shipping-business\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); 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The binding MoU aims to use the existing Eilat-Ashkelon pipeline connecting the Red Sea to the Mediterranean, EAPC, which owns the pipeline, said in a statement cited by <a href=\"https:\/\/www.reuters.com\/article\/emirates-israel-pipeline-idUSL8N2HB2R3\">Reuters<\/a>. EAPC and its new partner Med-Red \u2014 a consortium of Emirati and Israeli companies \u2014 are aiming to use a \u201cland bridge\u201d to ship oil between countries in the region through a route that saves time and fuel compared to the Suez Canal, according to the newswire. \u201cThere will be options to bring the oil by tanker to Eilat port or to build a pipeline from the UAE across Saudi Arabia to Israel,\u201d Israeli newspaper <a href=\"https:\/\/en.globes.co.il\/en\/article-agreement-signed-to-operate-israel-uae-oil-pipeline-1001346340\">Globes<\/a> said. Med-Red is already in \u201cadvanced negotiations with major players in the West and in the East for long-term service agreements,\u201d according to EAPC\u2019s statement.<\/p>\n<p><strong>While financial details weren\u2019t made public, EAPC said it could increase the quantity of shipped oil<\/strong> by \u201ctens of mns of tons per year,\u201d according to Reuters. A final agreement could be worth USD 700-800 mn over several years and could see oil start flowing at the start of 2021, the newswire quoted a source in the know as saying.<\/p>\n<p><strong>This could chip into Suez Canal revenues.<\/strong> The proposal to bypass the canal began floating around last month, when EAPC suggested using the 60-year-old pipeline to lessen Israel\u2019s dependence on the canal, Suez Canal Authority head Osama Rabie <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/67c8a867-4ecf-4aac-871d-52c84f95b93f\">said at the time<\/a>. Rabie said the plans would pose a national security risk, depriving Egypt of a vital source of revenue. Nearly 66% of oil sent from the GCC to western countries is shipped through the Suez Canal or the Sumed pipeline linking Alexandria to the Red Sea.<\/p>\n<p><strong>The recent Israel-UAE normalization agreement is allowing this arrangement to be made in the open, <\/strong>suggests <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2020-10-20\/israel-and-uae-open-talks-over-top-secret-oil-pipeline?sref=mmeFTDW1\">Bloomberg<\/a>. Prior to that, Israeli officials considered information on the operations of the Eilat-Ashkelon pipeline as classified. The pipeline, with a capacity of 600k barrels per day and some 23 mn barrels of storage, was built in the 1960s by Israel and Iran. When both nations cut diplomatic ties following the Iranian Islamic Revolution in 1979, they stopped using the pipeline as an official channel for shipping Iran\u2019s oil.<\/p>\n<p><strong>The UAE and Israel are eager to become BFFs<\/strong>, also <a href=\"https:\/\/www.wsj.com\/articles\/israel-u-a-e-to-allow-citizens-visa-free-travel-11603207483?mod=searchresults&page=1&pos=2\">announcing yesterday<\/a> that they would give each other\u2019s citizens visa-free travel.<\/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\/diplomacy\/\">DIPLOMACY<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/europe-asia-pipeline-co\/\">Europe Asia Pipeline Co<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/med-red-land-bridge\/\">Med-Red Land Bridge<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/oil-and-gas\/\">oil and gas<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/speed-round\/\">SPEED ROUND<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/suez-canal\/\">Suez Canal<\/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=\"575646\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"575647\" 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=\"575647\">\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\">Spotlight<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2020\/10\/21\/where-cdc-is-targeting-its-investments-in-egypt-this-year-how-it-sees-the-private-sector-leading-post-covid-growth\/\">\r\n                            Where CDC is targeting its investments in Egypt this year + how it sees the private sector leading post-covid growth                        <\/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\/21\/where-cdc-is-targeting-its-investments-in-egypt-this-year-how-it-sees-the-private-sector-leading-post-covid-growth\/\" 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\/21\/where-cdc-is-targeting-its-investments-in-egypt-this-year-how-it-sees-the-private-sector-leading-post-covid-growth\/')\">\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\/21\/where-cdc-is-targeting-its-investments-in-egypt-this-year-how-it-sees-the-private-sector-leading-post-covid-growth\/\">\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=Where CDC is targeting its investments in Egypt this year + how it sees the private sector leading post-covid growth&url=https:\/\/enterpriseam.com\/egypt\/2020\/10\/21\/where-cdc-is-targeting-its-investments-in-egypt-this-year-how-it-sees-the-private-sector-leading-post-covid-growth\/\">\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\/21\/where-cdc-is-targeting-its-investments-in-egypt-this-year-how-it-sees-the-private-sector-leading-post-covid-growth\/&title=Where CDC is targeting its investments in Egypt this year + how it sees the private sector leading post-covid growth\">\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=Where+CDC+is+targeting+its+investments+in+Egypt+this+year+%2B+how+it+sees+the+private+sector+leading+post-covid+growth+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2020%2F10%2F21%2Fwhere-cdc-is-targeting-its-investments-in-egypt-this-year-how-it-sees-the-private-sector-leading-post-covid-growth%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\/21\/where-cdc-is-targeting-its-investments-in-egypt-this-year-how-it-sees-the-private-sector-leading-post-covid-growth\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2020\/10\/226.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"575648\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2020\/10\/21\/where-cdc-is-targeting-its-investments-in-egypt-this-year-how-it-sees-the-private-sector-leading-post-covid-growth\/226-jpg-16\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2020\/10\/226.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"226.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2020\/10\/226.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2020\/10\/226.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-575647\" class=\"content-area-description single-story post-575647 post type-post status-publish format-standard has-post-thumbnail hentry category-spotlight tag-cdc-group tag-covid-19 tag-economy tag-enterpriseam tag-investment-watch tag-smes 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-07\"><\/a> <strong>Where the UK\u2019s CDC plans to invest in Egypt this year + how it sees the private sector<\/strong><strong> leading post-covid growth:<\/strong> CDC Group, the UK government\u2019s development arm, has been investing in Egypt since 2003. The group sees Egypt as a \u201cpriority market\u201d for its investments as it looks to support private sector-led growth. We spoke with Sherine Shohdy (<a href=\"https:\/\/eg.linkedin.com\/in\/sherine-shohdy-78460522\">LinkedIn<\/a>), CDC Group\u2019s coverage director in Egypt, for a closer look at the group\u2019s investment priorities in Egypt going forward and how it sees the private sector leading the post-covid economic recovery. Edited excerpts from our conversation:<\/p>\n<p><strong>As of the end of 1Q2020, CDC\u2019s portfolio value in Egypt this year hit USD 146.6 mn with investments in 29 Egyptian companies<\/strong> across a wide range of sectors, including infrastructure, manufacturing, trade and microfinance, healthcare, business services and financial services. Across the continent, CDC has a portfolio of investments worth USD 3.3 bn. Our investments in Egypt currently directly support over 28k jobs, with many more created indirectly in the wider economy through our supply chains.<\/p>\n<p><strong>Egypt is a priority market for CDC's investment activities.<\/strong> My <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/3e79e326-f64a-4347-8108-93175f059e24\">appointment<\/a> and the establishment of a permanent presence in the country are key to achieving our objectives and a strong signal for our commitment to doing more in Egypt. Our strategy is to drive origination by leveraging our links with Egyptian entrepreneurs and the broader investment community to identify attractive ventures where our flexible, long-term capital and operational expertise can help scale businesses. By working hand in hand with our portfolio, we are able to create sustainable employment opportunities, grow our investee businesses and improve their environmental, social and governance (ESG) practices and business integrity standards.<\/p>\n<p><strong>Investment pipeline focuses on human development, improving livelihoods:<\/strong> While CDC does not comment on specific transactions and speculative investments in our pipeline, I can say that our forthcoming investments in Egypt will be a combination of direct investments and intermediated investments via the local private equity and venture capital funds we have invested in, such as Ezdehar and Sawari Ventures. Our pipeline in Egypt currently includes investments in food & agriculture, healthcare, education, manufacturing, infrastructure, financial institutions and telecommunications \u2014 all sectors that accelerate human development and enhance livelihoods.<\/p>\n<p><strong>Our vision for Egypt's economic development is one of sustainable and inclusive private sector-led growth.<\/strong> Encouragingly, we believe Egyptian authorities are committed to this vision and the ongoing structural reforms, which will create jobs and reduce poverty and inequality, even in the current context where covid-19 has reshuffled medium-term priorities.<\/p>\n<p><strong>The main challenge the private sector faces relates to access to finance<\/strong>, with many SMEs facing liquidity strains now amplified by the pandemic. Persistent challenges in obtaining credit and a lack of integration between banks and the broader investment community are also important challenges. There\u2019s no shortage of promising Egyptian businesses led by ambitious entrepreneurs who are seeking investment to accelerate the growth of their businesses. The pandemic has also shone a light on the vulnerability of global supply chains. But there's opportunity here too \u2014 within some sectors, businesses are pivoting to local production instead of imports. We are proud to have been one of the first development finance institutions to be given clearance to provide Tier 2 capital to Egypt's banking sector with a USD 100 mn package for CIB to support its lending to over 1 mn Egyptian customers and to export-oriented sectors.<\/p>\n<p><strong>Renewed investment from the private sector will be key to accelerating countries\u2019 economic recovery from the pandemic.<\/strong> In many emerging and frontier markets, governments do not have the fiscal manoeuvring space to sufficiently stimulate the economy. In these countries, private investment \u2014 from international financiers or local sources \u2014 becomes doubly important. CDC is committed to leveraging its extensive networks across its priority markets to identify, structure and finance bankable projects that will accelerate growth, create long-term jobs and improve economic resilience.<\/p>\n<p><strong>Small SMEs are best supported through CDC\u2019s intermediated funds business<\/strong> \u2014 where we invest in local private equity funds such as Ezdehar, who then invest in SMEs \u2014 because CDC\u2019s direct investments are typically too large to be absorbed by small businesses. Our direct equity investments typically involve influential minority stakes ranging from USD 10 mn to USD 150 mn. SMEs are the backbone of economies across Africa. It\u2019s vital that the investment community continues supporting and investing in the SME segment, particularly in the context of covid-19.<\/p>\n<p><strong>Egypt has a strong track record, having successfully completed its home-grown economic reform program<\/strong> over the last few years, resulting in strong growth, falling unemployment, increased reserves and a reduction in public debt.The country's growth prospects were among the strongest in emerging markets prior to covid-19. The government and central bank have taken decisive steps to respond to the crisis, protect the economy and vulnerable sectors and individuals, while also strengthening the healthcare system. Continuing the government's support in creating a stable environment to attract much needed local and foreign investments over the coming period will be vital. Nonetheless, the country faces a high degree of uncertainty in the context of domestic and global economic disruption.<\/p>\n<p><strong>The diversified nature of the Egyptian economy, its large population, and commitment to economic reform will all help growth rebound<\/strong> to an estimated 6.5% in FY2021-2022. While certain sectors such as tourism, manufacturing, real estate and trade have been particularly affected, construction, oil refining and agriculture remain relatively robust. Moreover, the banking sector has remained stable, liquid, profitable and well capitalized.<\/p>\n<p><strong>Our 2021-2025 strategic framework, which we are currently drawing up, will see gender and climate change play an increasingly important role.<\/strong> Our long-term priorities will remain the same: Investing to create jobs and sustainable long-term economic transformation to reduce poverty. The pandemic has shown that we can act with rapidity and agility in times of crisis, using a flexible approach to support specific companies with financial or technical assistance, or to inject systemic liquidity into Africa\u2019s financial markets. This new, more responsive way of doing business is a principle we\u2019ll be embedding in our organization going forward.<\/p>\n<p><strong>Addressing gender inequality is a core priority for CDC.<\/strong> All our investments are made with gender in mind and we work closely with our investee businesses to help create jobs for women. We are also working to get more women into senior positions and boardrooms across our portfolio. CDC is a founding partner of the 2X Challenge, an initiative launched by development finance institutions in 2018 to unlock resources that will help advance women in emerging markets as entrepreneurs, business leaders, employees and consumers. The initiative has already mobilised USD 4.5 bn to support women\u2019s economic empowerment.<\/p>\n<p><strong>As part of our response to the covid-19 pandemic, CDC remains committed to investing in Egypt and across its key markets<\/strong>, both directly and via private equity funds that we partner with. This will ensure a quicker medium- and long-term economic recovery, and is part of our three-pillar response strategy. We believe the pandemic is a chance to \u201cbuild back better\u201d and address structural weaknesses and inequalities within our societies. Our USD 100 mn commitment to Helios Investment Partners in early July forms part of this pillar.<\/p>\n<p><strong>Our primary focus is preserving the viability of our existing portfolio of investees.<\/strong> To this end, we are providing targeted support and technical assistance where it is most needed. We are also providing systemic liquidity to Africa's financial systems via existing partners and financial intermediaries. We've recently announced a USD 100 mn risk sharing facility with Societe Generale and a USD 75 mn trade finance facility with <a href=\"https:\/\/www.absa.co.za\/personal\/\">Absa<\/a>. These facilities will help protect vital supply chains, sustain trade and enable importers to continue operating, with a particular focus on the food & agriculture and healthcare sectors \u2014 which we believe will attract increased attention post-pandemic.<\/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\/cdc-group\/\">CDC Group<\/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\/economy\/\">economy<\/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\/smes\/\">SMEs<\/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=\"575649\" 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=\"575649\">\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\/21\/egypt-in-the-news-on-21-october-2020\/\">\r\n                            Egypt in the News on 21 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\/21\/egypt-in-the-news-on-21-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\/21\/egypt-in-the-news-on-21-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\/21\/egypt-in-the-news-on-21-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 21 October 2020&url=https:\/\/enterpriseam.com\/egypt\/2020\/10\/21\/egypt-in-the-news-on-21-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\/21\/egypt-in-the-news-on-21-october-2020\/&title=Egypt in the News on 21 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+21+October+2020+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2020%2F10%2F21%2Fegypt-in-the-news-on-21-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\/21\/egypt-in-the-news-on-21-october-2020\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-575649\" class=\"content-area-description single-story post-575649 post type-post status-publish format-standard hentry category-egypt-in-the-news tag-ancient-egypt tag-covid-19 tag-education tag-egypt-in-the-news tag-el-gouna-film-festival tag-enterpriseam wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>Topping coverage of Egypt in the foreign press: The new <\/strong><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/25059e93-687e-4894-a561-83c2986aa99d\">archaeological find<\/a><\/strong> of dozens of 2.5k year-old sarcophagi in Saqqara this week: <a href=\"https:\/\/edition.cnn.com\/style\/article\/saqqara-sarcophagi-egypt\/index.html\">CNN<\/a> | <a href=\"https:\/\/apnews.com\/article\/egypt-cairo-afd7ecb82965d738c720e5f72abcdf3b\">Associated Press<\/a> | <a href=\"https:\/\/www.express.co.uk\/news\/science\/1349890\/egypt-archaeology-sarcophagus-saqarra-necropolis-ancient-egypt-evg\">Daily Mail<\/a>.<\/p>\n<p><strong>Journalism awards: <\/strong>Cairo-based multimedia reporter Solafa Magdy was one of four recipients of this year's International Women\u2019s Media Foundation\u2019s <a href=\"https:\/\/www.iwmf.org\/awards\/courage-in-journalism-awards\/\">Courage in Journalism Awards<\/a>. The <a href=\"https:\/\/www.washingtonpost.com\/washington-post-live\/2020\/12\/01\/international-womens-media-foundations-courage-journalism-awards\/\">Washington Post<\/a> took note.<\/p>\n<p>Elsewhere, <a href=\"https:\/\/www.reuters.com\/article\/idUSKBN275198\">Reuters<\/a> looks at how<strong> the start of the school year has stirred up <\/strong><strong>emotions <\/strong>for a 12-year-old student who lost her father to covid-19 earlier this year.<\/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\/ancient-egypt\/\">Ancient Egypt<\/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\/education\/\">Education<\/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\/el-gouna-film-festival\/\">El Gouna Film Festival<\/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=\"575653\" 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=\"575653\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">6<\/div>\r\n\r\n                    <p class=\"f-graphik\">The Market Yesterday<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2020\/10\/21\/the-market-yesterday-193\/\">\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\/21\/the-market-yesterday-193\/\" 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\/21\/the-market-yesterday-193\/')\">\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\/21\/the-market-yesterday-193\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=The Market Yesterday&url=https:\/\/enterpriseam.com\/egypt\/2020\/10\/21\/the-market-yesterday-193\/\">\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\/21\/the-market-yesterday-193\/&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%2F21%2Fthe-market-yesterday-193%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\/21\/the-market-yesterday-193\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-575653\" class=\"content-area-description single-story post-575653 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 15.65 | Sell 15.75<\/p>\n<p> <strong>EGP \/ USD at CIB:<\/strong> Buy 15.65 | Sell 15.75<br \/>\n <strong>EGP \/ USD at NBE: <\/strong>Buy 15.65 | Sell 15.75<\/p>\n<p><strong>EGX30<\/strong> (Tuesday): 11,158 (-0.1%)<br \/>\n <strong>Turnover:<\/strong> EGP 928 mn (17% below the 90-day average)<br \/>\n <strong>EGX 30 year-to-date<\/strong>: -20.1%<\/p>\n<p><strong>THE MARKET ON TUESDAY:<\/strong> The EGX30 ended Tuesday\u2019s session down 0.1%. CIB, the index\u2019s heaviest constituent, ended up 0.2%. EGX30\u2019s top performing constituents were the Export Development Bank up 5.4%, Cleopatra Hospitals Group up 2.9%, and EFG Hermes up 2.1%. Yesterday\u2019s worst performing stocks were Egyptian Iron & Steel down 2.6%, Beltone Financial Holding down 2.4% and Pioneers Holding down 2.0%. The market turnover was EGP 928 mn, and foreign investors were the sole net sellers.<\/p>\n<p><strong>Foreigners<\/strong>: Net Short | EGP -65.0 mn<br \/>\n <strong>Regional<\/strong>: Net Long | EGP +20.5 mn<br \/>\n <strong>Domestic<\/strong>: Net Long | EGP +44.5 mn<\/p>\n<p><strong>Retail<\/strong>: 76.0% of total trades | 77.4% of buyers | 74.7% of sellers<br \/>\n <strong>Institutions<\/strong>: 24.0% of total trades | 22.6% of buyers | 25.3% of sellers<\/p>\n<p><strong>WTI:<\/strong> USD 41.46 (+1.54%)<br \/>\n <strong>Brent:<\/strong> USD 43.16 (+1.27%)<\/p>\n<p><strong>Natural Gas:<\/strong> (Nymex, futures prices) USD 2.91 MMBtu (0.00%, November 2020 contract)<br \/>\n <strong>Gold:<\/strong> USD 1,913.80 \/ troy ounce (-0.08%)<\/p>\n<p><strong>TASI:<\/strong> 8,533.00 (-0.17%) (YTD: +1.71%)<br \/>\n <strong>ADX:<\/strong> 4,542.63 (-0.37%) (YTD: -10.50%)<br \/>\n <strong>DFM:<\/strong> 2,180.81 (-1.27%) (YTD: -21.12%)<br \/>\n <strong>KSE Premier Market:<\/strong> 6,245.02 (+0.42%)<br \/>\n <strong>QE:<\/strong> 10,015.52 (+0.16%) (YTD: -3.93%)<br \/>\n <strong>MSM:<\/strong> 3,586.98 (-0.04%) (YTD: -9.90%)<br \/>\n <strong>BB: <\/strong>1,454.61 (-0.44%) (YTD: -9.66%)<\/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\/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=\"575654\" 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\/21\/575654\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-575654\" class=\"content-area-description single-story post-575654 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\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":575626,"menu_order":0,"template":"","categories":[],"tags":[],"class_list":["post-575625","issue","type-issue","status-publish","has-post-thumbnail","hentry","wpautop","entry"],"acf":{"mongo_id":"3b5ed2d9-e9d7-43b5-8cb2-e417e168a7a3","teaser":"","photo_url":"https:\/\/ent.news\/2020\/10\/218.jpg"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - 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