{"id":575819,"date":"2020-10-28T04:04:27","date_gmt":"2020-10-28T04:04:27","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/?post_type=issue&#038;p=575819"},"modified":"2025-12-16T10:30:24","modified_gmt":"2025-12-16T10:30:24","slug":"happy-long-weekend-everyone-plus-egypts-gdp-growth-could-hover-at-3-3","status":"publish","type":"issue","link":"https:\/\/enterpriseam.com\/egypt\/issues\/happy-long-weekend-everyone-plus-egypts-gdp-growth-could-hover-at-3-3\/","title":{"rendered":"Happy long weekend, everyone. Plus: Egypt\u2019s GDP growth could hover at 3.3%"},"content":{"rendered":"<section id=\"575821\" 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=\"575821\">\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\/28\/what-were-tracking-on-28-october-2020\/\">\r\n                            What we\u2019re tracking on 28 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\/28\/what-were-tracking-on-28-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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Are you looking forward to the long weekend as much as we are?<\/strong> We are always grateful to write to you every morning, but we sometimes wish a four-day workweek would become standard practice\u2026<\/p><p><strong>Banks and the EGX will <\/strong><strong><a href=\"https:\/\/www.alborsaanews.com\/2020\/10\/27\/1394224\">close their doors<\/a><\/strong><strong> tomorrow<\/strong> in observance of the Prophet\u2019s Birthday, and the rest of the business community is also taking the day off.<\/p><p><strong>Enterprise is off tomorrow, too, but keep an eye on your inbox for a fresh episode from<\/strong><strong> season three of Making It<\/strong>, our podcast on how to build a great business in Egypt. We\u2019ll send a special email with the new episode to keep you entertained as you kick off the three-day weekend, but <strong>you can get early access if you're <\/strong><strong><a href=\"https:\/\/bit.ly\/2Z4R015\">subscribed<\/a><\/strong><strong> to Making It: <\/strong>The episode will drop into the podcast player of your choice this afternoon.<\/p><hr class=\"grey-line\"><p><strong>After a short-lived drama over the weekend, the dust is already settled over at CIB, which<\/strong><strong> is wasting no time in addressing concerns<\/strong> found in a regulatory probe. The leading private sector bank saw its share price inch up again on the EGX yesterday, helping the EGX30 end the day in the green after two days of losses. We have the full story in this morning\u2019s Speed Round, below.<\/p><p><strong>Foreign Minister Sameh Shoukry is in Moscow today<\/strong> to talk about Libya, Syria, Lebanon, Yemen, and other regional issues with Russian officials, <a href=\"https:\/\/www.shorouknews.com\/news\/view.aspx?cdate=27102020&amp;id=c1fbc60a-1c4a-4fee-98fb-eff60112679f\">Al Shorouk<\/a> reports. Shoukry is also set to meet with Russian Trade and Industry Minister Denis Manturov and Secretary of the Security Council of Russia Nikolai Patrushev.<\/p><hr class=\"grey-line\"><p><strong>The Health Ministry <\/strong><strong><a href=\"https:\/\/bit.ly\/2HvISCf\">reported<\/a><\/strong><strong> 170 new covid-19 infections yesterday<\/strong>, up from 167 the day before. Egypt has now disclosed a total of 106,877 confirmed cases of covid-19. The ministry also reported 11 new deaths, bringing the country\u2019s total death toll to 6,222. We now have a total of 99,084 confirmed cases that have fully recovered.<\/p><p><strong>Travelers heading to the UK from Egypt could be exempt from a requirement to <\/strong><strong>self-isolate upon arriving in the kingdom<\/strong>, <a href=\"https:\/\/www.thesun.co.uk\/travel\/13031621\/holiday-destinations-dubai-egypt-travel-corridor-air-bridge\/\">the Sun<\/a> reports. The UK is currently changing its criteria for its \u201ctravel corridor\u201d list, which determines whether travelers are required to quarantine based on the risk level of the countries from which they are traveling. Previously, countries with more than 20 new cases per 100k people over a seven-day period would face quarantine restrictions. This has now been increased to 100 new cases, meaning Egypt falls in the \u201cgreen zone.\u201d<\/p><p><strong>The Middle East is seeing a \u201cdangerous increase\u201d in covid-19 cases<\/strong>, the World Health Organization\u2019s regional programme director Rana Hajjeh told Yahduth fi Misr\u2019s Sherif Amer yesterday. Hajjeh also poured cold water on the idea that the virus that causes covid-19 is getting weaker (<a href=\"https:\/\/www.youtube.com\/watch?v=sSjAm1Ft4QQ\">watch, runtime: 3:53<\/a>).<\/p><p><strong>Don\u2019t expect a vaccine to be a cure-all that will automatically reset the <\/strong><strong>global economy and return us to our normal lives<\/strong>, warn scientists. A return to pre-covid growth could still take over a year \u2014 even with a successful vaccine, <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2020-10-25\/time-to-reset-expectations-for-world-economy-with-virus-untamed?sref=mmeFTDW1\">Bloomberg<\/a> reports. The efficacy and global distribution of any vaccine are still huge variables, which will have a major impact on consumer behavior and global economic recovery. And though the US and eurozone may have seen their downturns ease in 3Q, and while there\u2019s reason to hope vaccines may be available to protect the most vulnerable by spring 2021, uncertainty and adverse economic effects could persist until well into 2022, say experts.<\/p><p><strong>Meanwhile, pressure to adopt any vaccine that shows even moderate results<\/strong> <strong>could reduce the chances of creating more effective versions<\/strong>, especially for vulnerable groups like the elderly, <a href=\"https:\/\/www.theguardian.com\/world\/2020\/oct\/25\/rush-for-results-could-lead-to-inferior-covid-vaccine-say-scientists\">the Guardian<\/a> reports. Some 198 covid-19 vaccines are currently under development, with four in final phase 3 trials, and results are expected within the coming weeks and months. But experimental vaccines that appear first may not be as effective as those developed using slower methods, scientists say.<\/p><p><strong>Pfizer is not yet ready to release data from its late stage vaccine trials<\/strong>, after previously saying it could announce whether its vaccine works as early as this month, <a href=\"https:\/\/www.reuters.com\/article\/instant-article\/idUSKBN27C1NH\">Reuters<\/a>reports. Pfizer is developing its vaccine with German BioNTech and hopes to be the first US pharma company to announce successful results from the vaccine trial it began in July.<\/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\/Mesca-Beach-Oct.-Approved-3.jpg?ssl=1\" alt=\"enterprise\"><\/a><\/p><p><strong>\u201cOverwhelming\u201d demand for Ant IPO sees book-building close early:<\/strong> The private placement for the Hong Kong portion of Ant Financial\u2019s upcoming blockbuster IPO has closed a day early due to strong demand from investors, <a href=\"https:\/\/www.reuters.com\/article\/us-ant-group-ipo-hongkong\/ant-group-to-close-institutional-book-of-17-2-billion-hong-kong-ipo-early-sources-idUSKBN27C0AD\">Reuters<\/a> reports, citing sources familiar with the matter. The USD 17.2 bn Hong Kong listing was oversubscribed after just an hour of launching on Monday, signaling a high level of investor appetite for China\u2019s largest fintech company. The USD 34.4 bn listing will comfortably set a new record for the world\u2019s largest ever IPO, eclipsing Saudi Aramco, and values the company at around USD 312 bn.<\/p><p><strong>Is there any wonder why Wall Street bigwigs are <\/strong><strong>wining<\/strong><strong> and dining in Shanghai?<\/strong> Major US investors have been in China attending two summits, eager to hear Beijing\u2019s plans to open its financial markets as it prepares its next five-year plan. The <a href=\"https:\/\/www.ft.com\/content\/8cf19144-b493-4a3e-9308-183bbcc6e76e\">China-US Financial Roundtable<\/a> and the <a href=\"https:\/\/www.scmp.com\/economy\/china-economy\/article\/3107026\/china-repeats-opening-pledges-drive-lure-foreign-investors\">Bund Summit<\/a> attracted big-name delegates from the world of Western finance, a signal that some of the most important people in the American business community have no intention of slowing investment in the face of rising political tensions.<\/p><p><strong>Advanced Micro Devices is looking to acquire rival chipmaker Xilinx in a USD 35 bn all-stock transaction<\/strong>, the latest in a series of transactions in the semiconductor industry fueled by an increased demand for electronics during covid-19, the <a href=\"https:\/\/www.wsj.com\/articles\/amd-agrees-to-buy-rival-chip-maker-xilinx-for-35-billion-11603794663?mod=hp_lead_pos2\">Wall Street Journal<\/a> reports. The purchase follows Nvidia Corp\u2019s proposed USD 40 bn acquisition of Arm Holding, and the USD 20 bn purchase of Maxim Integrated Products by Analog Devices.<\/p><p>A handful of third quarter earnings released yesterday:<\/p><ul>\n<li><strong>BP beat expectations<\/strong>, reporting a slender USD 100 mn profit after its heavy USD 6.7 bn loss in the previous quarter, according to the <a href=\"https:\/\/www.bp.com\/content\/dam\/bp\/business-sites\/en\/global\/corporate\/pdfs\/investors\/bp-third-quarter-2020-results.pdf\">company\u2019s earnings release (pdf)<\/a>. Analysts <a href=\"https:\/\/www.ft.com\/content\/51b033f8-2bdb-397a-b7cd-d9436b3436cf\">had forecast<\/a> the company to report a loss of USD 120 mn. <\/li>\n<li><strong>HSBC\u2019s net profit fell 46% to USD 2 bn<\/strong>, after lower interest income caused revenues to decline by 11% to USD 11.9 bn, according to the <a href=\"https:\/\/ent.news\/2020\/10\/HSBC-earnings-release-3Q-2020.pdf\">company\u2019s earnings release (pdf)<\/a>.<\/li>\n<li><strong>The pandemic-fueled demand for cloud computing and video gaming gave<\/strong><strong> Microsoft a solid quarter. <\/strong><a href=\"https:\/\/www.microsoft.com\/en-us\/Investor\/earnings\/FY-2021-Q1\/press-release-webcast\">The company reported<\/a> USD 13.9 bn in net profit in between 1 July and 30 September, up by 30% y-o-y.<\/li>\n<\/ul><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>We take a look at the Arab Petroleum Investment Corporation\u2019s (Apicorp) outlook for the MENA region\u2019s gas and petrochemicals industries, which the multilateral development bank says will see an uptick in investments over the next five years \u2014 but will face some headwinds because of the 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\/banking\/\">banking<\/a>\n                <!-- 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src=\"https:\/\/i0.wp.com\/ent.news\/internal\/27483.png?fit=300%2C300&#038;ssl=1\" alt=\"\">\r\n                    <\/a>\r\n                    <span>Powering with nature<\/span>\r\n                <\/div>\r\n            <\/div>\r\n            <\/div><\/div><\/div>\r\n        \r\n            <div class=\"wp-block-stackable-column stk-block-column stk-column stk-block stk-qfso8xj\" data-v=\"4\" data-block-id=\"qfso8xj\"><div class=\"stk-column-wrapper stk-block-column__content stk-container stk-qfso8xj-container stk--no-background stk--no-padding\"><div class=\"stk-block-content stk-inner-blocks stk-qfso8xj-inner-blocks\">\r\n            <div class=\"issue-sponsor-slide\">\r\n                <img data-recalc-dims=\"1\" decoding=\"async\" draggable=\"false\" src=\"https:\/\/i0.wp.com\/ent.news\/internal\/240926.jpg?ssl=1\">\r\n                <div class=\"overlay\"><\/div>\r\n                <div class=\"content\">\r\n                    <a draggable=\"false\" 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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=\"575823\">\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\/28\/gerd-talks-education-lead-the-conversation-on-egypts-airwaves\/\">\r\n                            GERD talks + education lead the conversation on Egypt\u2019s airwaves                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n       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<\/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\/28\/gerd-talks-education-lead-the-conversation-on-egypts-airwaves\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-575823\" class=\"content-area-description single-story post-575823 post type-post status-publish format-standard hentry category-enterprise-last-nights-talk-shows tag-education tag-enterprise-last-nights-talk-shows tag-enterpriseam tag-nevine-kabbaj tag-tarek-shawki wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>The fresh round of tripartite negotiations on the Grand Ethiopian Renaissance Dam was<\/strong><strong> at the top of the talking heads\u2019 agenda last night<\/strong>, with former Irrigation Minister Mohamed Nasr Allam phoning into Kelma Akhira (<a href=\"https:\/\/www.youtube.com\/watch?v=Sgqihi6odMc\">watch, runtime: 5:55<\/a>) and Yahduth fi Misr (<a href=\"https:\/\/www.youtube.com\/watch?v=kCf7R-NwTxc\">watch, runtime: 3:28<\/a>) to provide color commentary. We have chapter and verse on yesterday\u2019s meeting between officials from Egypt, Sudan, and Ethiopia in this morning\u2019s Diplomacy + Foreign Trade, below.<\/p>\n<p><strong>Education was also in the limelight on the airwaves yesterday:<\/strong> Education Minister Tarek Shawki had a chat with Kelma Akhira\u2019s Lamees El Hadidi about planned regulations the ministry will begin implementing at private schools to ensure parents make good on tuition fee payments in a timely manner. The regulations would also penalize schools that try to impose any changes to their tuition fees at any point during the academic year, Shawki said (<a href=\"https:\/\/www.youtube.com\/watch?v=ZBY6g-qJ4vo&t=162s\">watch, runtime: 16:52<\/a>). Lamees also discussed the government\u2019s plan to financially support an additional 1 mn students to be able to attend school with Social Solidarity Minister Nevine Kabbaj (<a href=\"https:\/\/www.youtube.com\/watch?v=owfk5fSJREA\">watch, runtime: 5:43<\/a>). We have the full story in this morning\u2019s Speed Round, below.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/education\/\">Education<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/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\/nevine-kabbaj\/\">Nevine Kabbaj<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/tarek-shawki\/\">Tarek Shawki<\/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=\"575824\" 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=\"575824\">\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\/28\/egypts-economy-to-grow-by-3-3-in-fy2020-21-reuters-poll\/\">\r\n                            Egypt\u2019s economy to grow by 3.3% in FY2020-21 -Reuters poll                        <\/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\/28\/egypts-economy-to-grow-by-3-3-in-fy2020-21-reuters-poll\/\" 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\/28\/egypts-economy-to-grow-by-3-3-in-fy2020-21-reuters-poll\/')\">\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\/28\/egypts-economy-to-grow-by-3-3-in-fy2020-21-reuters-poll\/\">\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 economy to grow by 3.3% in FY2020-21 -Reuters poll&url=https:\/\/enterpriseam.com\/egypt\/2020\/10\/28\/egypts-economy-to-grow-by-3-3-in-fy2020-21-reuters-poll\/\">\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\/28\/egypts-economy-to-grow-by-3-3-in-fy2020-21-reuters-poll\/&title=Egypt\u2019s economy to grow by 3.3% in FY2020-21 -Reuters poll\">\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+economy+to+grow+by+3.3%25+in+FY2020-21+-Reuters+poll+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2020%2F10%2F28%2Fegypts-economy-to-grow-by-3-3-in-fy2020-21-reuters-poll%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\/28\/egypts-economy-to-grow-by-3-3-in-fy2020-21-reuters-poll\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2020\/10\/290.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"575825\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2020\/10\/28\/egypts-economy-to-grow-by-3-3-in-fy2020-21-reuters-poll\/290-jpg-15\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2020\/10\/290.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"290.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2020\/10\/290.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2020\/10\/290.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-575824\" class=\"content-area-description single-story post-575824 post type-post status-publish format-standard has-post-thumbnail hentry category-speed-round tag-enterpriseam tag-finance-ministry tag-gdp tag-growth-forecast tag-imf tag-speed-round 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-01\"><\/a> <strong>Eg<\/strong><strong>ypt\u2019s economy will grow at a 3.3% clip during the current fiscal year<\/strong>, according to a <a href=\"https:\/\/www.reuters.com\/article\/idUSL4N2HH3KF\">Reuters poll<\/a> of economists. This is a slight upwards revision from the 3.1% growth economists had penciled in for FY2020-2021 <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/08a1f691-10f9-404b-86ff-d972aa0bb415\">in a similar poll in July<\/a>. The economists\u2019 forecast is more optimistic than the <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/47662d59-b64d-4577-9b8e-f9089185e17a\">Planning Ministry\u2019s projection in May<\/a> that we would only see 2% growth if the pandemic continues into December \u2014 but more or less matches expectations from the <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/307c82aa-8655-4348-9cdd-bc0c68450f60\">IMF<\/a>, <a href=\"https:\/\/enterprise.press\/stories\/2020\/10\/20\/egypts-economy-is-on-track-to-finish-the-year-having-grown-3-5-23537\/\">Fitch<\/a>, and <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/3862b982-c1f2-4b9d-8edd-cca7a37d9d71\">Deutsche Bank<\/a>. The figure falls below the Finance Ministry\u2019s forecast, which said in June it sees GDP growth for FY2020-2021 <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/abebb78b-cad6-4311-a2f0-5a4113f1ee64\">coming in at 5%<\/a>.<\/p>\n<p><strong>Chalk up the muted growth to a tourism downturn:<\/strong> HC Securities\u2019 assumption for the current fiscal year is based on its expectation that tourism revenue will plunge 50% y-o-y, driving down employment levels and potentially also leading to \u201cmuted real growth in household consumption,\u201d HC\u2019s head of macro and financials Monette Doss tells the newswire.<\/p>\n<p><strong>Growth is expected to accelerate over the next two fiscal years<\/strong>, the Reuters poll indicated. Economists expect the economy to expand 5% in FY2021-2022 and 5.5% in FY2022-2023.<\/p>\n<p><strong>Inflation to spike in coming years... <\/strong>Annual urban consumer price inflation will slow to 5.8% in FY2020-21 before rising to 7% in each of FY2021-22 and FY2022-23, according to the economists. Annual inflation came in at 3.7% in September and 3.4% in August, close to its lowest levels in 14 years, the report notes. \u201cWe expect inflation to trend higher over the medium term as the exchange rate weakens and global commodity prices tick higher amid a recovery in global demand,\u201d said Callee Davis, an economist at NKC African Economics.<\/p>\n<p><strong>...and the EGP will weaken against the USD: <\/strong>The currency will weaken to EGP 15.8 against the USD by the end of the year from its current rate of about 15.65, the economists predicted. According to the economists, the exchange rate could be at EGP 16.5 \/ USD by December 2021 and EGP 17 \/ USD 1 by December 2022. The economists predicted that the central bank\u2019s overnight lending rate would slide to 9.25% by the end of June 2021, from the current 9.75%, then again to 8.5% by June 2022 and 8% by June 2023.<\/p>\n<p><strong>Growth in other major African economies, meanwhile, is seen as subdued and mixed<\/strong>, <a href=\"https:\/\/www.reuters.com\/article\/us-africa-economy-poll\/uneven-recovery-prospects-for-africas-major-economies-reuters-poll-idUSKBN27C1ZB?il=0\">a separate Reuters poll<\/a> showed. The continent\u2019s two largest economies, Nigeria and South Africa, are expected to eke out positive rates of 2% and 3.5% in 2021 after taking a beating this year and shrinking 4% and 8.5%, according to the poll. This is \u201cpartly because many African countries\u2019 fiscal positions will be a constraint on growth,\u201d Jacques Nel, head of macroeconomic research at NKC African economics said. \u201cMost of the fastest-growing countries will be in East Africa\u201d as the region is one of the most diversified, Nel said.<\/p>\n<p><strong>As for the MENA region, economies are seeing a disproportionate amount of economic pain because of s<\/strong><strong>tructural issues <\/strong><strong>that long pre-date covid-19<\/strong>, AUC\u2019s Amr Adly argues in <a href=\"https:\/\/www.bloomberg.com\/opinion\/articles\/2020-10-27\/what-ails-arab-economies-is-older-than-covid-19?sref=mmeFTDW1\">Bloomberg Opinion<\/a>. Weaknesses in MENA economies mean the impact of covid-19 on the US and EU has hit us hard in terms of trade, investment and reduced fuel exports, while a lack of intra-regional trade integration has stopped us tapping into the purchasing power on our doorsteps, he says. The IMF is predicting MENA economies to shrink 5.4% in FY2020-2021 \u2014 a level of contraction that seems unaligned with the scale of the public health crisis in the region. The average number of covid-19 deaths in MENA stands at 79.46 per mn \u2014 lower in the most populous nations, including Egypt, at 62.21 per mn \u2014 compared to 673.80, 360.45 and 661.29 in the US, EU and South America.<\/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\/finance-ministry\/\">Finance Ministry<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/gdp\/\">GDP<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/growth-forecast\/\">growth forecast<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/imf\/\">IMF<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/speed-round\/\">SPEED ROUND<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"575839\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"575840\" 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=\"575840\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">4<\/div>\r\n\r\n                    <p class=\"f-graphik\">THE MACRO PICTURE<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2020\/10\/28\/global-fdi-plunges-49-on-covid-lockdowns\/\">\r\n                            Global FDI plunges 49% on covid lockdowns                        <\/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\/28\/global-fdi-plunges-49-on-covid-lockdowns\/\" 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\/28\/global-fdi-plunges-49-on-covid-lockdowns\/')\">\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\/28\/global-fdi-plunges-49-on-covid-lockdowns\/\">\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=Global FDI plunges 49% on covid lockdowns&url=https:\/\/enterpriseam.com\/egypt\/2020\/10\/28\/global-fdi-plunges-49-on-covid-lockdowns\/\">\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\/28\/global-fdi-plunges-49-on-covid-lockdowns\/&title=Global FDI plunges 49% on covid lockdowns\">\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=Global+FDI+plunges+49%25+on+covid+lockdowns+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2020%2F10%2F28%2Fglobal-fdi-plunges-49-on-covid-lockdowns%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\/28\/global-fdi-plunges-49-on-covid-lockdowns\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2020\/10\/297.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"575841\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2020\/10\/28\/global-fdi-plunges-49-on-covid-lockdowns\/297-jpg-11\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2020\/10\/297.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"297.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2020\/10\/297.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2020\/10\/297.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-575840\" class=\"content-area-description single-story post-575840 post type-post status-publish format-standard has-post-thumbnail hentry category-the-macro-picture tag-enterpriseam tag-fdi tag-investment-watch tag-the-macro-picture tag-unctad 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-06\"><\/a> <strong>Global foreign direct investment fell 49% y-o-y in 1H2020<\/strong> as lockdowns across the world and recession fears caused a slowdown in cross-border investment, the United Nations Conference on Trade and Development (UNCTAD) has said in its latest <a href=\"https:\/\/ent.news\/2020\/10\/FDI-UN-report.pdf\">investment monitor (pdf)<\/a>. All forms of FDI felt the impact of the coronavirus, with the value of greenfield investments falling by 37%, new financing agreements slipping by 25%, and M&A dropping by 15%.<\/p>\n<p><strong>The developed world returns to 1994: <\/strong>Advanced economies suffered the steepest decline, with FDI plummeting by 75% to USD 98 bn \u2014 a level of investment last seen in 1994. M&A values in developed countries saw a drop of 21%, but the decline was tempered by continuing M&A activity in digital industries. Italy, the US, the Netherlands and Switzerland saw particularly heavy declines.<\/p>\n<p><strong>China proves its resilience: <\/strong>Developing economies fared slightly better, witnessing a 16% decline in investment, a better than expected outlook attributed to China, which only saw inflows fall 4%. Asian economies saw only a 12% drop-off in FDI, while investment in African economies fell by 28% and Latin America saw inflows decline by 15%.<\/p>\n<p><strong>Don\u2019t expect much improvement for the second half of the year:<\/strong> Although investment in developed economies may have picked up in the third quarter, the UNCTAD is sticking with its earlier projections for a 30-40% decline in FDI over the course of the whole year. This, of course, will depend on the trajectory of the virus and the continued effectiveness of stimulus measures deployed to prop up economies.<\/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\/fdi\/\">FDI<\/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\/the-macro-picture\/\">THE MACRO PICTURE<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/unctad\/\">UNCTAD<\/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=\"575842\" 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=\"575842\">\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\/28\/egypt-in-the-news-on-28-october-2020\/\">\r\n                            Egypt in the News on 28 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\/28\/egypt-in-the-news-on-28-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\/28\/egypt-in-the-news-on-28-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\/28\/egypt-in-the-news-on-28-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 28 October 2020&url=https:\/\/enterpriseam.com\/egypt\/2020\/10\/28\/egypt-in-the-news-on-28-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\/28\/egypt-in-the-news-on-28-october-2020\/&title=Egypt in the News on 28 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+28+October+2020+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2020%2F10%2F28%2Fegypt-in-the-news-on-28-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\/28\/egypt-in-the-news-on-28-october-2020\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-575842\" class=\"content-area-description single-story post-575842 post type-post status-publish format-standard hentry category-egypt-in-the-news tag-archaeology tag-culture tag-egypt-in-the-news 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 this morning is a rare shark attack off the <\/strong><strong>Red Sea coast<\/strong> in Sharm El Sheikh on Sunday, which cost an Egyptian tour guide a leg and a 12-year-old Ukrainian boy an arm, reports <a href=\"https:\/\/apnews.com\/article\/egypt-tourist-lose-limbs-shark-attack-48cd3221925e6700c2b6b40b0b551cbe\">the Associated Press<\/a>. The boy\u2019s mother also sustained light injuries in the attack.<\/p>\n<p><strong>Preserving Esna\u2019s monuments: <\/strong>Ongoing work by the government and urban developer Takween to preserve the heritage of <a href=\"https:\/\/www.lonelyplanet.com\/egypt\/nile-valley\/esna-to-abu-simbel\">Esna<\/a> also got some ink in <a href=\"https:\/\/www.al-monitor.com\/pulse\/originals\/2020\/10\/egypt-esna-heritage-project-promote-tourism.html\">Al Monitor<\/a>. The Rediscovering Esna\u2019s Culture Heritage Assets (RECHA) <a href=\"https:\/\/www.facebook.com\/takween.icd\/posts\/2199340756742572\">project<\/a>, which began in 2016, is being funded by USAID.<\/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\/archaeology\/\">archaeology<\/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                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"575843\" 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=\"575843\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">6<\/div>\r\n\r\n                    <p class=\"f-graphik\">Diplomacy + Foreign Trade<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2020\/10\/28\/diplomacy-foreign-trade-on-28-october-2020\/\">\r\n                            Diplomacy + Foreign Trade on 28 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\/28\/diplomacy-foreign-trade-on-28-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\/28\/diplomacy-foreign-trade-on-28-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\/28\/diplomacy-foreign-trade-on-28-october-2020\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=Diplomacy + Foreign Trade on 28 October 2020&url=https:\/\/enterpriseam.com\/egypt\/2020\/10\/28\/diplomacy-foreign-trade-on-28-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\/28\/diplomacy-foreign-trade-on-28-october-2020\/&title=Diplomacy + Foreign Trade on 28 October 2020\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=Diplomacy+%2B+Foreign+Trade+on+28+October+2020+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2020%2F10%2F28%2Fdiplomacy-foreign-trade-on-28-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\/28\/diplomacy-foreign-trade-on-28-october-2020\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-575843\" class=\"content-area-description single-story post-575843 post type-post status-publish format-standard hentry category-diplomacy-foreign-trade tag-african-union tag-diplomacy-foreign-trade tag-enterpriseam tag-ethiopia tag-gerd tag-infrastructure tag-kuwait-fund-for-arab-economic-development tag-sudan tag-transport 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-04\"><\/a> <strong>The biggest diplomacy story of the day: Egypt, Ethiopia, and Sudan could have a draft<\/strong><strong> agreement on filling and operating the Grand Renaissance Dam within a week. <\/strong>Sudan, which chaired the first meeting yesterday of African Union-brokered negotiations that resumed yesterday following a seven-week hiatus, is expected to send out a formal invitation to technical teams from the three countries, the Irrigation Ministry said in <a href=\"https:\/\/bit.ly\/3oz12ni\">a statement<\/a>. Talks to resolve the drawn-out dispute kicked into gear yesterday after US President Donald Trump <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/54f913b4-71e9-4854-9baa-0ded8209bf74\">weighed in<\/a>.<\/p>\n<p><strong>Cairo and Khartoum aren\u2019t budging on their position that the negotiations must produce a \u201clegally binding agreement,\u201d<\/strong> President Abdel Fattah El Sisi and Sudan\u2019s transitional Sovereignty Council head Abdel Fattah al-Burhan agreed in a separate meeting on Tuesday, according to a <a href=\"https:\/\/tinyurl.com\/y49jxww8\">statement<\/a>. Speaking ahead of the negotiations, members of Ethiopia\u2019s negotiating team said talks would continue with a \u201cgeneral understanding\u201d of contentious issues and that they were confident an agreement could be reached, <a href=\"https:\/\/www.bnnbloomberg.ca\/ethiopia-upbeat-on-resolving-dam-feud-with-egypt-sudan-1.1513529\">Bloomberg<\/a> reports.<\/p>\n<p><strong>Egypt will establish a rail network connecting Aswan to South Wadi Halfa in <\/strong><\/p>\n<p><strong>Sudan<\/strong> in accordance with a MoU signed by Transport Minister Kamel El Wazir in a virtual meeting with Sudanese Minister Hashem Ibn Auf, according to a ministry <a href=\"https:\/\/bit.ly\/3mxLkXL\">statement<\/a>. The project will be jointly funded by both countries as well as the Kuwait Fund for Arab Economic Development. The ministers also discussed a potential road project connecting Egypt and Chad through Sudan that will serve as a gateway for trade between Egypt and other African nations, as well as the Cairo-Cape Town highway, which is set to pass through nine countries.<\/p>\n<p><strong>Scottish companies are kicking the tires on investing in Egypt\u2019s energy sector <\/strong>as part of a UK bid to help Egypt achieve \u201cnet zero\u201d carbon emissions, <a href=\"https:\/\/www.gov.uk\/government\/news\/uk-companies-explore-energy-opportunities-in-the-egyptian-market\">the British Embassy in Cairo said<\/a>. This came following a webinar held yesterday by the UK Department for International Trade and the Scottish Development International to listen to an overview of Egypt\u2019s priorities to reform its energy sector and major oil and gas projects in the pipeline.<\/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\/african-union\/\">African Union<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/diplomacy-foreign-trade\/\">Diplomacy + Foreign Trade<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/ethiopia\/\">Ethiopia<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/gerd\/\">GERD<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/infrastructure\/\">infrastructure<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/kuwait-fund-for-arab-economic-development\/\">Kuwait Fund for Arab Economic Development<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/sudan\/\">Sudan<\/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=\"575847\" 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=\"575847\">\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\">The Market Yesterday<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2020\/10\/28\/the-market-yesterday-198\/\">\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\/28\/the-market-yesterday-198\/\" 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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CIB, the index\u2019s heaviest constituent, ended up 0.4%. EGX30\u2019s top performing constituents were Egyptian Iron & Steel up 6.6%, Dice up 5.4%, and Export Development Bank up 3.7%. Yesterday\u2019s worst performing stocks were GB Auto down 1.1%, Ibnsina Pharma down 1.0% and Juhayna down 0.9%. The market turnover was EGP 1.5 bn, and domestic investors were the sole net buyers.<\/p>\n<p><strong>Foreigners<\/strong>: Net Short | EGP -331.8 mn<br \/>\n <strong>Regional<\/strong>: Net Short | EGP -33.1 mn<br \/>\n <strong>Domestic<\/strong>: Net Long | EGP +364.9 mn<\/p>\n<p><strong>Retail<\/strong>: 55.6% of total trades | 58.2% of buyers | 53.0% of sellers<br \/>\n <strong>Institutions<\/strong>: 44.4% of total trades | 41.8% of buyers | 47.0% of sellers<\/p>\n<p><strong>WTI:<\/strong> USD 38.93 (+0.96%)<br \/>\n <strong>Brent:<\/strong> USD 40.69 (+0.57%)<\/p>\n<p><strong>Natural Gas:<\/strong> (Nymex, futures prices) USD 3.03 MMBtu (+0.20%, November 2020 contract)<br \/>\n <strong>Gold:<\/strong> USD 1,910.00 \/ troy ounce (+0.23%)<\/p>\n<p><strong>TASI:<\/strong> 8,198.90 (+0.53%) (YTD: -2.27%)<br \/>\n <strong>ADX:<\/strong> 4,682.82 (+1.25%) (YTD: -7.74%)<br \/>\n <strong>DFM:<\/strong> 2,191.16 (+1.14%) (YTD: -20.75%)<br \/>\n <strong>KSE Premier Market:<\/strong> 5,979.24 (-0.95%)<br \/>\n <strong>QE:<\/strong> 9,853.16 (+0.47%) (YTD: -5.49%)<br \/>\n <strong>MSM:<\/strong> 3,555.68 (-0.23%) (YTD: -10.69%)<br \/>\n <strong>BB: <\/strong>1,427.46 (-0.52%) (YTD: -11.35%)<\/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=\"575848\" 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\/28\/575848\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-575848\" class=\"content-area-description single-story post-575848 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>23-31 October (Friday-Saturday): <a href=\"http:\/\/elgounafilmfestival.com\/\">El Gouna Film Festival<\/a>, El Gouna, Egypt.<\/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>7-9 November (Saturday-Monday): <a href=\"https:\/\/alex.technesummit.com\/2020\">Techne Summit 2020<\/a>, Bibliotheca Alexandrina, Alexandria.<\/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 (date TBC): <a href=\"https:\/\/www.facebook.com\/ees.egypt\/\">Egypt Economic Summit<\/a>, Cairo, Egypt, <a href=\"https:\/\/bit.ly\/3jhQXXR\">venue TBD<\/a>.<\/p>\n<p>December: Fifth round of Egypt-US Trade and Investment Framework Agreement (TIFA) talks.<\/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\u00fcrgenstock, Switzerland<\/p>\n<p>31 May-2 June 2021 (Monday-Wednesday): <a href=\"https:\/\/www.egyps.com\/\">Egypt Petroleum Show<\/a>, Egypt International Exhibition Center, Nasr City, Cairo.<\/p>\n<p>1 June 2021 (Tuesday): The IMF will conduct a second review of targets set under the USD 5.2 bn standby loan approved in June 2020 (proposed date).<\/p>\n<p>10 June 2021 (Thursday): The CBE\u2019s Monetary Policy Committee will meet to review interest rates.<\/p>\n<p>24 June 2021 (Thursday): End of the 2020-2021 academic year.<\/p>\n<p>26-29 June 2021 (Saturday-Tuesday): <a href=\"https:\/\/www.thebig5constructegypt.com\/?utm_source=Adestra&utm_medium=email&CID=003D000002UIHn4IAH&utm_campaign=Egyp%5Bt%20postponement%20generic%20exp%20visp&utm_term&utm_content=7014G000001cG3zQAE&CNAME=Enterprise\">The Big 5 Construct Egypt<\/a>, Cairo International Convention Center<\/p>\n<p>22 July 2021 (Thursday): The CBE\u2019s Monetary Policy Committee will meet to review interest rates.<\/p>\n<p>30 July-3 August 2021 (Thursday-Monday): Eid Al Adha, national holiday (TBC).<\/p>\n<p>1 October 2021-31 March 2022 (Friday-Thursday): Postponed <a href=\"https:\/\/www.expo2020dubai.com\">Expo 2020 Dubai<\/a>.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    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