{"id":576352,"date":"2020-11-22T04:14:56","date_gmt":"2020-11-22T04:14:56","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/?post_type=issue&#038;p=576352"},"modified":"2025-12-16T10:49:18","modified_gmt":"2025-12-16T10:49:18","slug":"second-round-of-covid-stimulus-gets-okay-from-el-sisi","status":"publish","type":"issue","link":"https:\/\/enterpriseam.com\/egypt\/issues\/second-round-of-covid-stimulus-gets-okay-from-el-sisi\/","title":{"rendered":"Second round of covid stimulus gets okay from El Sisi"},"content":{"rendered":"<section id=\"576354\" 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=\"576354\">\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\/11\/22\/what-were-tracking-on-22-november-2020\/\">\r\n                            What we\u2019re tracking on 22 November 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\/11\/22\/what-were-tracking-on-22-november-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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Keep your eye on the forecast for later this week as the <a href=\"https:\/\/www.youm7.com\/story\/2020\/11\/21\/%D8%A7%D9%84%D8%A3%D8%B1%D8%B5%D8%A7%D8%AF-%D8%A7%D9%84%D8%AC%D9%88%D9%8A%D8%A9-%D8%AA%D8%AD%D8%B0%D8%B1-%D9%85%D9%86-%D9%85%D9%88%D8%AC%D8%A9-%D8%AB%D8%A7%D9%86%D9%8A%D8%A9-%D9%85%D9%86-%D8%A7%D9%84%D8%B7%D9%82%D8%B3-%D8%A7%D9%84%D8%B3%D9%8A%D8%A6-%D9%86%D9%87%D8%A7%D9%8A%D8%A9\/5078237\">weather office<\/a> and our favourite weather app both suggest we could see more \u201cinstability\u201d starting Wednesday. That means a chance of rain, though it seems more likely right now in coastal areas than in the capital city.<\/p><p><strong>The big story of the day: <\/strong>The Sisi administration has preemptively authorized a second wave of stimulus be readied and left on standby as we head deeper into this second wave of covid-19.<\/p><p><strong>PSA- If you don\u2019t have one of those <\/strong><strong>electronic vehicle stickers<\/strong><strong> on your windshield this <\/strong><strong>morning, you\u2019re in violation of the traffic law<\/strong> and may want to schedule a little visit to the moroor. Yesterday was the deadline for all vehicles to comply with the requirement to have one of the RFID stickers placed on your windshield to make it easier for authorities to track your car.<\/p><p><strong>The <\/strong><strong><a href=\"https:\/\/cairoict.com\/\">Cairo ICT<\/a><\/strong><strong> expo gets underway <\/strong><strong>today <\/strong><strong>and runs through Wednesday.<\/strong> This year\u2019s iteration of the fair focuses on \u201cthe big reset\u201d of how we look at business, the economy, and life in general post-covid.<\/p><p><strong>Want a hint about what that post-covid life is gonna look like? <\/strong>The anti-vaxxers won\u2019t be happy. \u201cAs she rushes to her gate, the traveller can see her plane through the airport window, sitting on the tarmac, loaded and ready to leave. After a year of drastically reduced travel, the airport is bustling. As she approaches the desk, she pulls out her usual passport and boarding pass, then opens a new app. She shows it to the boarding agent, and it flashes her confirmation: She has the required vaccine.\u201d<\/p><p>^^ From the Toronto Star\u2019s really awesome <strong><a href=\"https:\/\/www.thestar.com\/news\/canada\/2020\/11\/21\/so-we-get-a-covid-19-vaccine-then-what-a-glimpse-of-how-the-coming-months-could-play-out.html\">So we get a COVID-19 vaccine. Then what? A<\/a><\/strong><strong><a href=\"https:\/\/www.thestar.com\/news\/canada\/2020\/11\/21\/so-we-get-a-covid-19-vaccine-then-what-a-glimpse-of-how-the-coming-months-could-play-out.html\">glimpse of how the coming months could play out.<\/a><\/strong> From Toronto to New York to East Africa, it envisions a future where your vaccine status will determine your mobility \u2014 from whether you can cross a border down to whether you get into a concert.<\/p><p><strong>It\u2019s also Thanksgiving week, so give an American a (virtual) hug<\/strong> \u2014 and if you\u2019re mulling a Thanksgiving get-together here in Omm El Donia, consider limiting it to just the people you live with? As the Madbouly government has made clear the past week, we\u2019re very much in the early days of the second wave of covid-19.<\/p><p><strong>The (virtual) Canada-Arab Business Forum runs Tuesday and Wednesday<\/strong>, making the case for more trade and investment between Canada and the Arab world. Ministers and industry experts will be talking, and <a href=\"https:\/\/www.c-abcbusinessforum.ca\/1-Welcome\/\">you can sign up here<\/a>.<\/p><p><strong>Also coming up: The latest edition of the <\/strong><strong><a href=\"https:\/\/www.instagram.com\/p\/CHvzHVcFJ7O\/?igshid=bxsvgdtchjln\">Cairo Art Fair<\/a><\/strong>, hosted by our friends at TAM Gallery. The fair, which will feature some 1,500 works of art from 140 artists, kicks off on Saturday, 4 December and runs until 31 January 2021.<\/p><p>(<strong>Want to hear TAM\u2019s origin story?<\/strong> We sat down with co-founder Lina Mowafy for an episode of our podcast, Making It, in which she told us how her struggle to find an entryway to the Egyptian art scene led to the creation of TAM. Listen on <a href=\"https:\/\/enterprise.press\/podcasts\/bringing-art-to-the-masses-how-tam-is-trying-to-democratize-the-art-scene\/\">our website<\/a>, <a href=\"https:\/\/podcasts.apple.com\/us\/podcast\/bringing-art-to-masses-how-tam-is-trying-to-democratize\/id1487974619?i=1000463441660\">Apple Podcast<\/a>, or <a href=\"https:\/\/podcasts.google.com\/?feed=aHR0cHM6Ly93d3cub21ueWNvbnRlbnQuY29tL2QvcGxheWxpc3QvNWE1NmQ3YzMtZjI4MS00NTU3LThlMzEtYWFjODAxN2NjZjA2L2U3ZjE1ZWYwLWMwOWYtNDFiNi1iZDM4LWFiMDUwMGMwNDVlZi82OTc0ODFkMi04OGRmLTRlYjMtYmY3Mi1hYjA1MDBjMjllOWYvcG9kY2FzdC5yc3M%3D\">Google Podcast<\/a>.)<\/p><p><strong>More into collecting books than art? The FT is ready to help you pad your TBR list as we <\/strong><strong>slide into the holiday season.<\/strong> Check out the Financial Times\u2019 Books of 2020 list. Browse the <a href=\"https:\/\/www.ft.com\/content\/17b1b69b-73ae-414f-89b2-1c5070e02563\">critics\u2019 picks<\/a> or delve into the category of your liking, with recommendations available on: <a href=\"https:\/\/www.ft.com\/content\/1b0205bc-117e-41d5-9a60-f801ebae86d5\">Business<\/a> | <a href=\"https:\/\/www.ft.com\/content\/0a56bccd-097a-4f61-83e7-ae195fb45481\">science<\/a> | <a href=\"https:\/\/www.ft.com\/content\/f6e8e077-f3a5-4e42-85ff-4fa2b34c6832\">food and drink<\/a> | <a href=\"https:\/\/www.ft.com\/content\/2b65a6fa-515b-4dc3-91ec-332fbb27b9db\">politics<\/a> | <a href=\"https:\/\/www.ft.com\/content\/b23a3b1a-f947-4000-901b-22077362fe88\">fiction<\/a> and more. The <a href=\"https:\/\/www.ft.com\/booksof2020\">landing page is here<\/a>.<\/p><hr class=\"grey-line\"><p><strong>The Health Ministry <\/strong><strong><a href=\"https:\/\/bit.ly\/2IOiqEx\">reported<\/a><\/strong><strong> 358 new covid-19 infections yesterday<\/strong>, down from 363 the day before, but still above the figure we reported in last Thursday\u2019s issue. Egypt has now disclosed a total of 112,676 confirmed cases of covid-19. <strong>The daily death count is holding steady at 13-14 <\/strong>each day since Thursday.<\/p><p><strong>There\u2019s now more disagreement over treatment protocols for covid-19<\/strong> after a World Health Organization panel said on Friday that there is \u201cno evidence\u201d Remdesivir improves survival rates or eliminates patients\u2019 need for ventilators, according to the <a href=\"https:\/\/abc7news.com\/remdesivir-for-covid-coronavirus-covid-19\/8116473\/\">Associated Press<\/a>. The panel\u2019s statement comes as preliminary findings on other meds \u2014 including the anti-inflammatory tocilizumab and baricitinib \u2014 suggest they could be helpful, but have yet to be confirmed and widely accepted as standard practice.<\/p><p><strong>On a related note: Are we over-treating covid in Egypt? <\/strong>That\u2019s the suggestion from <a href=\"https:\/\/twitter.com\/faheemyounus\/status\/1330117818285772800?s=12\">this<\/a><a href=\"https:\/\/twitter.com\/faheemyounus\/status\/1330117818285772800?s=12\">Twitter exchange<\/a> between prominent cardiologist Hany Ragy and University of Maryland infectious diseases expert Faheem Younus.<\/p><p><strong>Sinopharm has tested its vaccine on 1 mn people<\/strong> and is reporting what it says are promising results with scant data to back it up, the <a href=\"https:\/\/www.nytimes.com\/2020\/11\/20\/world\/a-chinese-drugmaker-reports-progress-on-a-vaccine-candidate.html?searchResultPosition=1\">New York Times<\/a> reports. The chairman of the company said that only a handful of people had contracted the virus after having the inoculation, and claimed that it is \u201cleading the world in all aspects.\u201d<\/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\/11\/SOMA-ENTERPRISE-BF-BA1600px.jpg?ssl=1\" alt=\"enterprise\"><\/a><\/p><p><strong>Listed German companies with management boards of three or more people must now <\/strong><strong>include at least one woman<\/strong>, after Angela Merkel\u2019s coalition government agreed to introduce a new gender quota, the <a href=\"https:\/\/www.ft.com\/content\/1bbb07fa-02c0-46c8-9c1a-a80e6a46ea63\">Financial Times<\/a> reports. Proposals for a quota came after a voluntary commitments system introduced in 2015 failed to result in more female board members.<\/p><p><strong>Egypt isn\u2019t doing better than the Germans: <\/strong>We got an <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/2b9819c3-2949-4f72-a88b-f0896bd2cc4b\">\u201cF\u201d for gender parity on corporate<\/a><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/2b9819c3-2949-4f72-a88b-f0896bd2cc4b\">boards in 2019<\/a>. Women presently account for just 10% of board members in Egypt.<\/p><p><strong>Investors are continuing to favor EM equities over growth stocks: <\/strong>Analysts are calling investors\u2019 keenness on EM stocks the fastest emerging market rotation in over a decade as hopes for a covid-19 vaccine increases risk appetite, <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2020-11-20\/rotation-trade-in-emerging-markets-pits-mexico-against-china?sref=mmeFTDW1\">Bloomberg<\/a> reports. Though Asia\u2019s EM stocks in particular seem to have outperformed emerging market equities elsewhere, with the MSCI EM Asia index up 17.5% this year, and the MSCI EM index excluding Asia down 19.9%, equities outside of Asia, particularly those in energy and basic materials, stand to gain more from a covid-19 recovery, the <a href=\"https:\/\/www.wsj.com\/articles\/suffering-emerging-markets-can-bounce-back-from-the-depths-11605864488\">Wall Street Journal<\/a> reports.<\/p><p><strong>The IMF\u2019s firepower could grow at this weekend\u2019s G20 virtual summit <\/strong>hosted by Saudi Arabia to help it support low-income countries facing default, Saudi Finance Minister Mohammed Al-Jadaan told <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2020-11-20\/saudi-finmin-hopeful-of-g-20-consensus-to-bolster-imf-reserves?sref=mmeFTDW1\">Bloomberg<\/a> on Friday. Proposals to increase the fund\u2019s reserves by USD 500 bn earlier this year had been vetoed by the US, the fund\u2019s largest shareholder, but Jaadan expressed optimism that the 20 nations will find a breakthrough during the current meeting, which ends today.<\/p><p><strong>Rising covid-19 cases and<\/strong><strong> the US Treasury\u2019s decision to <\/strong><strong><a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2020-11-20\/fed-to-return-lending-backstop-funds-to-treasury-as-requested?sref=mmeFTDW1\">end several of the Fed\u2019s<\/a><\/strong><strong><a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2020-11-20\/fed-to-return-lending-backstop-funds-to-treasury-as-requested?sref=mmeFTDW1\">emergency lending programs<\/a><\/strong><strong> drove down major US stock indices and bond yields on Friday<\/strong>, reports <a href=\"https:\/\/www.reuters.com\/article\/us-global-markets\/stocks-bonds-fall-dollar-flat-as-fed-fears-subside-idUSKBN28003S?il=0\">Reuters<\/a>. The S&amp;P, Dow and Nasdaq were all down by a little under 1%. Benchmark 10-year treasury yields also fell to an 11-day-low before bouncing back.<\/p><hr class=\"grey-line\"><p><strong>Trump isn\u2019t the kind of guy to let a string of legal defeats stop him from <\/strong><strong>desperately trying to cling to the presidency.<\/strong> His team\u2019s attempts to roll back the results of the election were dealt another blow over the weekend after Republican lawmakers in Michigan rejected his pleas to hand him the state, and a hand recount in Georgia confirmed Biden\u2019s win, <a href=\"https:\/\/www.ft.com\/content\/f0171c81-b301-449c-9bd9-03508c4995ff\">the Financial Times<\/a> reports. And in the early hours of this morning, an attempt to make use of a legal loophole to decertify the result in Pennsylvania was struck down by a judge, who criticized the president for relying on \u201cstrained legal arguments without merit and speculative accusations,\u201d <a href=\"https:\/\/www.nytimes.com\/2020\/11\/21\/us\/politics\/pennsylvania-trump-court-ballots.html\">the New York Times<\/a> says.<\/p><hr class=\"grey-line\"><p><strong>*** HOW HAS BLENDED LEARNING BEEN TREATING YOU SO FAR? Tell us what you <\/strong><strong>think.<\/strong> We\u2019ve put together a quick survey asking parents and students how things are going on the blended front. We\u2019ll have the results in an upcoming issue of Blackboard.<\/p><p>We\u2019ll draw the names of three respondents who will <strong>receive an Enterprise mug and a bag of our favourite coffee from our friends at <\/strong><strong><a href=\"https:\/\/www.instagram.com\/30northcoffee\/?hl=en\">30 North<\/a><\/strong><strong>.<\/strong><\/p><p><strong><a href=\"https:\/\/www.surveymonkey.com\/r\/GMS2BR5\">Tap or click here to take the survey<\/a><\/strong><strong>.<\/strong> It\u2019s quick and painless, we promise.<\/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\/capital-markets\/\">capital markets<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" 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id=\"576356\" 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=\"576356\">\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\/11\/22\/last-nights-talk-shows-on-22-november-2020\/\">\r\n                            Last Night\u2019s Talk Shows on 22 November 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 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  <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2020\/11\/22\/last-nights-talk-shows-on-22-november-2020\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-576356\" class=\"content-area-description single-story post-576356 post type-post status-publish format-standard hentry category-enterprise-last-nights-talk-shows tag-covid-19 tag-enterprise-last-nights-talk-shows tag-enterpriseam tag-imf tag-infrastructure tag-mohamed-maait tag-retail 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>Finance Minister Mohamed Maait headlined the talk shows last night<\/strong>, dropping into Ala Mas\u2019ouleety to discuss the IMF\u2019s review of the economy and the disbursement of the next tranche of the USD 5.2 bn standby loan <a href=\"https:\/\/www.youtube.com\/watch?v=L5ZoZQ51-GM\">(watch, runtime: 23:29)<\/a>. We have full coverage in this morning\u2019s Speed Round, below.<\/p>\n<p><strong>Second round of stimulus gets the go-ahead:<\/strong> President Abdel Fattah El Sisi has authorised the government to deploy a new round of stimulus to support the economy through a second wave of the virus, Maait said. He declined to say how much money would be made available. The ministry still has some bullets left in its chamber from last time, having spent only EGP 65 bn of its original EGP 100 bn fiscal package. The president has also directed the government to ensure there is money allocated to pay grants to day laborers, the minister said.<\/p>\n<p><strong>Maait reeled off a handful of stats to demonstrate that Egypt had successfully navigated its economy through choppy waters.<\/strong> Egypt is among the just 15% of countries that have avoided economic contraction this year \u2014 and the only country to enjoy a positive growth rate of more than 2% in the MENA region. The minister said more than 100k jobs are created for every percentage point of economic growth, and that there have been 300-400k new jobs in spite of the pandemic.<\/p>\n<p><strong>The state is getting serious with its covidiot crackdown:<\/strong> Al Hayah Al Youm's Lobna Assal phoned Cairo Metro spokesperson Ahmed Abd El Hadi, who suggested that teams of plain-clothes police officers are now patrolling stations across the capital in search of people breaking covid protocol. El Hadi said that there is no fixed fine for being caught without a mask on the metro and that violators will be referred to prosecution who will determine the size of the penalty. Around 1k fines were issued on Friday alone, he said <a href=\"https:\/\/www.youtube.com\/watch?v=9x7l75CyBpA&t=50s\">(watch, runtime: 6:47)<\/a>. Assal also phoned Khaled Kassem, spokesperson for the Local Development Ministry, who confirmed that shops caught violating precautionary measures would be forced to shut for three days <a href=\"https:\/\/www.youtube.com\/watch?v=G70xl9KCxPQ&t=224s\">(watch, runtime: 6:01)<\/a>.<\/p>\n<p><strong>We know a little bit more about the <\/strong><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/e3019f4c-6803-4c38-a95f-5dfdeaf7a35b\">new regulations governing opening hours<\/a><\/strong><strong>: <\/strong>Kelma Akhira\u2019s Lamees El Hadidi phoned Adel Al Masry, head of the Tourism Chamber at the Federation of Egyptian Industries, who said that the Tourism Minister confirmed that nightclubs across the country would be forced close at 2am, and cabarets and live music venues at 3am. Al Masry voiced support for the new rules and said they will review them with the Tourism minister after their introduction <a href=\"https:\/\/www.youtube.com\/watch?v=R9oiIvJXk2k\">(watch, runtime: 6:35)<\/a>.<\/p>\n<p><strong>Heavy rain sparks flooding in Alex, Kafr El Sheikh:<\/strong> Alexandria governor Mohamed El Sherif appeared on Kelma Akhira <a href=\"https:\/\/www.youtube.com\/watch?v=WbLAhvydi5s\">(watch, runtime: 9:32)<\/a>, Masaa DMC <a href=\"https:\/\/www.youtube.com\/watch?v=OO901wqFp5g\">(watch, runtime: 7:58)<\/a> and Al Hayah Al Youm <a href=\"https:\/\/www.youtube.com\/watch?v=WwHt9IuCXHA&t=198s\">(watch, runtime: 16:55)<\/a> to respond to the flooding in Alexandria over the weekend. El Sherif blamed the city\u2019s poor infrastructure and climate change for the flooding. When pushed by Lamees on why the infrastructure had not been upgraded, El Sherif said the EGP 13-15 bn price tag is too expensive and installing new drainage systems would be too disruptive for the city. Schools will operate as usual this week, he added. Masaa DMC\u2019s Eman El Hosary phoned Kafr El Sheikh governor Gamal Nour El Din, who said that all rainwater has been drained from the streets <a href=\"https:\/\/www.youtube.com\/watch?v=Sm9u37i5Lfg\">(watch, runtime: 3:26)<\/a>. Cairo governorate spokesperson Ibrahim Awad <a href=\"https:\/\/www.youtube.com\/watch?v=QapFw1nF3K0\">(watch, runtime: 5:48)<\/a> told El Hosary about the death of a girl who was electrocuted by a damaged power cable.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/covid-19\/\">covid-19<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/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\/imf\/\">IMF<\/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\/mohamed-maait\/\">Mohamed Maait<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/retail\/\">retail<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"576357\" 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=\"576357\">\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\/11\/22\/imf-gives-initial-approval-to-second-tranche-of-usd-5-2-bn-standby-loan\/\">\r\n                            IMF gives initial approval to second tranche of USD 5.2 bn standby loan                        <\/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\/11\/22\/imf-gives-initial-approval-to-second-tranche-of-usd-5-2-bn-standby-loan\/\" 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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Some USD 1.6 bn will be paid out should the fund\u2019s executive board give its approval when it meets in the coming weeks, it said. This would take the total disbursements under the program to USD 3.6 bn, with Cairo having received <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/e4b88b68-45c9-4f66-bbba-1e8999ee8f3f\">the first USD 2 bn installment<\/a> in the summer alongside a <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/11bab53b-215b-4264-9f9f-0134b47a0e99\">USD 2.8 bn rapid financing instrument<\/a> designed to shore up the country\u2019s balance of payments.<\/p>\n<p><strong>The standby loan: A refresher.<\/strong> The financing is meant to support Egypt\u2019s economic recovery through covid-19 as key economic sectors <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/208459ce-0af4-4af3-b83f-04a417b32cb8\">such as tourism<\/a> remain deflated by the pandemic\u2019s effect on international travel. The extra cash will continue to help Egypt narrow its budget deficit and boost social spending to protect vulnerable groups, as well as increase spending on health and implement structural reforms.<\/p>\n<p><strong>When can we expect to receive the money?<\/strong> It\u2019s possible the money will be paid out in December, Finance Minister Mohamed Maait said in an interview on Ala Mas\u2019ouleety last night <a href=\"https:\/\/www.youtube.com\/watch?v=L5ZoZQ51-GM\">(watch, runtime: 23:29)<\/a>.<\/p>\n<p><strong>The economy is beating forecasts:<\/strong> \u201cThe Egyptian economy has performed better than expected despite the pandemic. Containment measures, supported by the authorities\u2019 effective crisis management, and strong implementation of their policy program helped mitigate the effects of the crisis,\u201d IMF Egypt boss Uma Ramakrishnan said. Private sector activity has shown signs of recovery in recent months and conditions in the financial markets have stabilized, she said.<\/p>\n<p><strong>But we\u2019re not out of the woods yet:<\/strong> A potential resurgence of the virus continues to pose a threat to the economic recovery, while the country\u2019s vital tourism sector remains \u201cat an almost standstill,\u201d she said.<\/p>\n<p><strong>Reserves, primary balance get us brownie points: <\/strong>The IMF team found that all program targets for end of September had been met, while the primary balance and international reserves had exceeded targets. Foreign reserves have been steadily rebounding since June, rising from <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/c885a8d1-9772-4b40-b60d-b789bc0d7a53\">USD 36 bn in May<\/a> to <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/b59454cc-854e-4fa9-bfa0-ad403d92f89a\">USD 39.22 bn in October<\/a> thanks in part to the government\u2019s FX-denominated <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/925263b4-1bc7-4df7-bcdc-3335f83063f0\">Eurobond<\/a> and <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/5d1b54d5-5efa-41c9-ac8b-728b105b2ef0\">green bond<\/a> issuance earlier this year. Meanwhile, the government achieved a small <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/fe09d867-dea8-4f57-9725-da9e7b6b0ecb\">EGP 100 mn primary surplus<\/a> during 1Q2020-2021. Egypt \u201cremains on track to achieve a primary surplus of 0.5% of GDP,\u201d slightly above the<a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/fe09d867-dea8-4f57-9725-da9e7b6b0ecb\">0.4% forecast by the IMF<\/a> in October.<\/p>\n<p><strong>The IMF also praised the <\/strong><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/ff816b7c-7eaf-4b1f-ac4c-be6ec4df8325\">passing of the Customs Act<\/a><\/strong> ahead of schedule. The act is expected to expedite clearance times and imposes harsher penalties for customs evasion.<\/p>\n<p><strong>What about our low inflation? <\/strong>September\u2019s 3.7% headline inflation rate was lower than the target band of 6-12%, triggering consultations with the IMF\u2019s technical team under the terms of the SBA, the statement said. The IMF staff praised the central bank\u2019s two 50-bps interest rate cuts in <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/383b8b99-dd6d-46df-b2dd-f2c241ea039f\">September<\/a> and <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/5662d281-1e6f-4604-b559-ae1ac16ce3be\">earlier this month<\/a>, which Ramakrishnan described as \u201cappropriately accommodative.\u201d<\/p>\n<p><strong>The IMF could press for more easing if inflation doesn\u2019t pick up in the months ahead:<\/strong> Inflation in October remained below the target range despite September\u2019s rate cut helping to spark <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/7ba3c0ab-cba6-4ed1-94f1-10368c5f8e54\">a slight acceleration<\/a> in price growth. Analysts expect inflation to close out the year between 5-6%, which <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/09265a82-4346-4d8b-9df6-ca74beaf0fec\">under the terms of the arrangement<\/a> may mean that Egypt has to consult with the fund\u2019s technical team.<\/p>\n<p><strong>What we need to do to stay in the IMF\u2019s good books:<\/strong> The IMF urged \u201ccontinued strong program implementation, including sustained progress in key structural reforms.\u201d It called for the central bank to maintain flexible exchange rates to help the economy withstand economic shocks, and for the government to stick to its commitment to return to a 2% primary surplus, which it <a href=\"https:\/\/ent.news\/2020\/10\/text.pdf\">forecasts from FY2022-2023 onwards<\/a>.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/central-bank-of-egypt\/\">Central Bank of 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\/customs\/\">customs<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/debt\/\">debt<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/exchange-rate\/\">exchange rate<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/foreign-reserves\/\">foreign reserves<\/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\/inflation\/\">inflation<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/interest-rates\/\">interest rates<\/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=\"576373\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"576374\" 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=\"576374\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">4<\/div>\r\n\r\n                    <p class=\"f-graphik\">EGYPT IN THE NEWS<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2020\/11\/22\/egypt-in-the-news-on-22-november-2020\/\">\r\n                            Egypt in the News on 22 November 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\/11\/22\/egypt-in-the-news-on-22-november-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\/11\/22\/egypt-in-the-news-on-22-november-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\/11\/22\/egypt-in-the-news-on-22-november-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 22 November 2020&url=https:\/\/enterpriseam.com\/egypt\/2020\/11\/22\/egypt-in-the-news-on-22-november-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\/11\/22\/egypt-in-the-news-on-22-november-2020\/&title=Egypt in the News on 22 November 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+22+November+2020+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2020%2F11%2F22%2Fegypt-in-the-news-on-22-november-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\/11\/22\/egypt-in-the-news-on-22-november-2020\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-576374\" class=\"content-area-description single-story post-576374 post type-post status-publish format-standard hentry category-egypt-in-the-news tag-daesh tag-egypt-in-the-news tag-egyptian-initiative-for-personal-rights tag-energy tag-enterpriseam tag-human-rights tag-north-sinai tag-politics tag-terrorism wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><a id=\"tldr-story-08\" class=\"content-anchor\"><\/a> <strong>Human rights topped coverage of Egypt in the foreign press over the weekend<\/strong> following the arrest of Egyptian Initiative for Personal Rights (EIPR) executive Gasser Abdel Razek just days <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/3dca1181-44b8-45fb-9762-57a6f61e7e32\">after authorities detained<\/a> two other senior staffers. Coverage is everywhere: <a href=\"https:\/\/www.reuters.com\/article\/idUSKBN27Z2Z7\">Reuters<\/a> | <a href=\"https:\/\/apnews.com\/article\/egypt-cairo-middle-east-france-arrests-a1dbaba813d0ec1d73cd501add65416b\">the Associated Press<\/a> | <a href=\"https:\/\/www.nytimes.com\/2020\/11\/19\/world\/middleeast\/egypt-human-rights-arrest.html\">New York Times<\/a> | <a href=\"https:\/\/www.washingtonpost.com\/opinions\/global-opinions\/its-time-for-trumps-favorite-dictator-to-hear-a-different-message\/2020\/11\/20\/7c6a0034-2b5e-11eb-8fa2-06e7cbb145c0_story.html\">Washington Post<\/a> | <a href=\"https:\/\/edition.cnn.com\/2020\/11\/19\/africa\/egypt-eipr-arrests-crackdown-intl\/index.html\">CNN<\/a> | <a href=\"https:\/\/www.ft.com\/content\/496c3dd1-bcea-48a1-9a7b-0afec7a7d604\">Financial Times<\/a> | <a href=\"https:\/\/www.dw.com\/en\/egypt-escalates-campaign-of-arrests-after-activists-meet-foreign-diplomats\/a-55671018\">Deutsche Welle<\/a>.<\/p>\n<p><strong>The international community is being very vocal:<\/strong> The US State Department joined a number of senators and <a href=\"https:\/\/twitter.com\/ABlinken\/status\/1329876599441854465\">President-elect Joe Biden\u2019s foreign policy aide<\/a> expressing concerns at the arrests. <a href=\"https:\/\/twitter.com\/ExtSpoxEU\/status\/1330151554171670529\">The EU<\/a>, <a href=\"https:\/\/twitter.com\/UN_Spokesperson\/status\/1329866978736140289\">UN<\/a>, <a href=\"https:\/\/www.telegraph.co.uk\/news\/2020\/11\/19\/uk-deeply-concerned-arrest-egyptian-human-rights-advocates\/\">UK<\/a>, <a href=\"https:\/\/www.auswaertiges-amt.de\/de\/newsroom\/kofler-aegypten\/2419206\">Germany<\/a> and <a href=\"https:\/\/twitter.com\/CanadaFP\/status\/1329875199295098886\">Canada<\/a> all issued similar statements calling for their release.<\/p>\n<p><b>The Egyptian Foreign Ministry <\/b><a href=\"https:\/\/bit.ly\/3kQqDVp\"><b>said<\/b><\/a><b> Egypt respects the rule of law<\/b><span style=\"font-weight: 400;\"> and that the right to <\/span><span style=\"font-weight: 400;\">organize in civil society is protected under the constitution, but said \u201cno group of persons enjoy immunity for their work in any field.\u201d The Foreign Ministry urged other nations to refrain from interfering in Egypt\u2019s domestic affairs. <\/span><a href=\"https:\/\/www.reuters.com\/article\/idUSKBN2802PR\"><span style=\"font-weight: 400;\">Reuters<\/span><\/a><span style=\"font-weight: 400;\"> and <\/span><a href=\"https:\/\/apnews.com\/article\/egypt-cairo-middle-east-2fbbd8b3837d3be144885fd5d142f9e1\"><span style=\"font-weight: 400;\">the AP<\/span><\/a><span style=\"font-weight: 400;\"> have more on the fallout. <\/span><\/p>\n<p><strong>US Senators from both sides of the political aisle are separately lobbying for the release<\/strong><strong> of two other rights advocates<\/strong>, one of whom was imprisoned last year, <a href=\"https:\/\/thehill.com\/policy\/international\/middle-east-north-africa\/526806-bipartisan-pair-of-senators-call-on-egypt-to\">the Hill<\/a> reported.<\/p>\n<p><strong>Alleged terrorist attack hits North Sinai pipeline: <\/strong>Daesh have claimed responsibility for an explosion that hit a natural gas pipeline running between El Arish and El Qantara in North Sinai on Thursday. <a href=\"https:\/\/www.reuters.com\/article\/idUSKBN27Z2RG\">Reuters<\/a> and <a href=\"https:\/\/apnews.com\/article\/egypt-middle-east-islamic-state-group-211411c89e252d41cc5bf7ca0f965cf0\">the Associated Press<\/a> have the details.<\/p>\n<p><strong>Elsewhere: <\/strong><a href=\"https:\/\/www.economist.com\/middle-east-and-africa\/2020\/11\/21\/much-of-the-arab-world-is-short-of-doctors\">The Economist<\/a> looks at <strong>why doctors in Egypt and the Middle East at large are likely<\/strong><strong> to take their talents abroad<\/strong> in search of better pay and working conditions.<\/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\/daesh\/\">Daesh<\/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\/egyptian-initiative-for-personal-rights\/\">Egyptian Initiative for Personal Rights<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/energy\/\">energy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/human-rights\/\">human rights<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/north-sinai\/\">North Sinai<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/politics\/\">politics<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/terrorism\/\">terrorism<\/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=\"576375\" 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=\"576375\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">5<\/div>\r\n\r\n                    <p class=\"f-graphik\">Diplomacy + Foreign Trade<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2020\/11\/22\/diplomacy-foreign-trade-on-sunday-22-november-2020\/\">\r\n                            Diplomacy + Foreign Trade on Sunday, 22 November 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\" 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href=\"https:\/\/www.linkedin.com\/shareArticle?mini=true&url=https:\/\/enterpriseam.com\/egypt\/2020\/11\/22\/diplomacy-foreign-trade-on-sunday-22-november-2020\/&title=Diplomacy + Foreign Trade on Sunday, 22 November 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+Sunday%2C+22+November+2020+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2020%2F11%2F22%2Fdiplomacy-foreign-trade-on-sunday-22-november-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\/11\/22\/diplomacy-foreign-trade-on-sunday-22-november-2020\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-576375\" class=\"content-area-description single-story post-576375 post type-post status-publish format-standard hentry category-diplomacy-foreign-trade tag-diplomacy tag-diplomacy-foreign-trade tag-enterpriseam tag-ethiopia tag-finance-ministry tag-gerd tag-irrigation-ministry tag-italy tag-sudan tag-world-bank wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>Headlining diplomacy news this morning: Sudan boycotts \u201cuseless\u201d GERD talks:<\/strong> Sudan walked away from negotiations over the Grand Ethiopian Renaissance Dam (GERD) scheduled to take place yesterday, calling the previous rounds of talks \u201cuseless\u201d and urging the African Union to step in to mediate the process, Sudan\u2019s news agency <a href=\"https:\/\/bit.ly\/3709Ien\">SUNA<\/a> reports. The meeting was set to bring together the foreign ministers of Ethiopia, Egypt and Sudan to try and agree on how to proceed with the talks. Egypt has insisted that Sudan return to the negotiating table <a href=\"https:\/\/www.youtube.com\/watch?v=TxXByq0QYf4\">(watch, runtime: 1:12)<\/a>.<\/p>\n<p><strong>Speaking of water:<\/strong> Irrigation and Water Resources Minister Mohamed Abdel Aty held a virtual meeting with a World Bank delegation to discuss reforms being made to the country\u2019s water infrastructure, including the use of less water-intensive irrigation systems, the ministry said in a <a href=\"https:\/\/bit.ly\/370bFaq\">statement<\/a> yesterday.<\/p>\n<p><strong>In trade news, some 650 exporters want to receive their overdue subsidies in a single <\/strong><strong>lump sum<\/strong>, and more can still apply until 30 November, Finance Minister Mohamed Maait said, according to <a href=\"https:\/\/bit.ly\/3lVpa1x\">Hapi Journal<\/a>. Maait didn\u2019t specify how much those exporters are entitled to. Exporters earlier this year agreed to take a 15% haircut on their arrears as a condition of receiving the payouts this year, rather than spacing out the payments over four to five years. Exporters who choose to receive the full amount will be paid out under the original timeline.<\/p>\n<p><strong>The Export Development Fund will start doling out lump sum payments worth<\/strong> <strong>EGP 3.2 bn today<\/strong> to the first batch of 323 companies (of 903 applications received), Trade and Industry Minister Nevin Gamea <a href=\"https:\/\/bit.ly\/3kQ3HWA\">said yesterday<\/a>.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/diplomacy\/\">DIPLOMACY<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/diplomacy-foreign-trade\/\">Diplomacy + Foreign Trade<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/ethiopia\/\">Ethiopia<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/finance-ministry\/\">Finance Ministry<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/gerd\/\">GERD<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/irrigation-ministry\/\">Irrigation Ministry<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/italy\/\">Italy<\/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\/world-bank\/\">World Bank<\/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=\"576376\" 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=\"576376\">\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\">Banking + Finance<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2020\/11\/22\/fawry-and-banque-du-caire-sign-contract-for-remittance-transfer-service\/\">\r\n                            Fawry and Banque du Caire sign contract for remittance transfer service                        <\/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\/11\/22\/fawry-and-banque-du-caire-sign-contract-for-remittance-transfer-service\/\" 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\/11\/22\/fawry-and-banque-du-caire-sign-contract-for-remittance-transfer-service\/')\">\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\/11\/22\/fawry-and-banque-du-caire-sign-contract-for-remittance-transfer-service\/\">\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=Fawry and Banque du Caire sign contract for remittance transfer service&url=https:\/\/enterpriseam.com\/egypt\/2020\/11\/22\/fawry-and-banque-du-caire-sign-contract-for-remittance-transfer-service\/\">\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\/11\/22\/fawry-and-banque-du-caire-sign-contract-for-remittance-transfer-service\/&title=Fawry and Banque du Caire sign contract for remittance transfer service\">\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=Fawry+and+Banque+du+Caire+sign+contract+for+remittance+transfer+service+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2020%2F11%2F22%2Ffawry-and-banque-du-caire-sign-contract-for-remittance-transfer-service%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\/11\/22\/fawry-and-banque-du-caire-sign-contract-for-remittance-transfer-service\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-576376\" class=\"content-area-description single-story post-576376 post type-post status-publish format-standard hentry category-banking-finance tag-banking-finance tag-banque-du-caire tag-economy tag-enterpriseam tag-fawry tag-fintech wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p>EGX-listed e-payments platform Fawry and Banque du Caire have signed a contract to set up an instant remittance transfer service through Fawry outlets, Fawry CEO Ashraf Sabry told <a href=\"https:\/\/almalnews.com\/%D9%81%D9%88%D8%B1%D9%8A-%D8%AA%D8%AA%D8%B9%D8%A7%D9%82%D8%AF-%D9%85%D8%B9-%D8%A8%D9%86%D9%83-%D8%A7%D9%84%D9%82%D8%A7%D9%87%D8%B1%D8%A9-%D9%84%D8%AA%D9%86%D9%81%D9%8A%D8%B0-%D8%A7\/\">Al Mal<\/a>. The Central Bank of Egypt <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/bf938e40-6e17-4f83-bc18-91f04a41016e\">approved Fawry\u2019s request<\/a> to set up a remittance transfer service with a local bank last September.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/banking-finance\/\">BANKING + FINANCE<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/banque-du-caire\/\">Banque du Caire<\/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\/fawry\/\">Fawry<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/fintech\/\">Fintech<\/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=\"576378\" 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=\"576378\">\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\">ON YOUR WAY OUT<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2020\/11\/22\/google-doodles-and-chillin-with-our-neighbors-to-the-east\/\">\r\n                            Google Doodles and chillin with our neighbors to the east                        <\/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\/11\/22\/google-doodles-and-chillin-with-our-neighbors-to-the-east\/\" 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\/11\/22\/google-doodles-and-chillin-with-our-neighbors-to-the-east\/')\">\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\/11\/22\/google-doodles-and-chillin-with-our-neighbors-to-the-east\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=Google Doodles and chillin with our neighbors to the east&url=https:\/\/enterpriseam.com\/egypt\/2020\/11\/22\/google-doodles-and-chillin-with-our-neighbors-to-the-east\/\">\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\/11\/22\/google-doodles-and-chillin-with-our-neighbors-to-the-east\/&title=Google Doodles and chillin with our neighbors to the east\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=Google+Doodles+and+chillin+with+our+neighbors+to+the+east+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2020%2F11%2F22%2Fgoogle-doodles-and-chillin-with-our-neighbors-to-the-east%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\/11\/22\/google-doodles-and-chillin-with-our-neighbors-to-the-east\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2020\/11\/228.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"576379\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2020\/11\/22\/google-doodles-and-chillin-with-our-neighbors-to-the-east\/228-jpg-13\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2020\/11\/228.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"228.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2020\/11\/228.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2020\/11\/228.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-576378\" class=\"content-area-description single-story post-576378 post type-post status-publish format-standard has-post-thumbnail hentry category-on-your-way-out tag-auc-venture-lab tag-enterpriseam tag-entrepreneurship tag-itida tag-mohamed-ramadan tag-technology wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>Ahmed Zaki commemorated by Google:<\/strong> Google\u2019s Doodles <a href=\"https:\/\/www.google.com\/doodles\/ahmed-zakis-71st-birthday\">paid tribute<\/a> on Wednesday to what would have been the late actor Ahmed Zaki\u2019s 71st birthday. Critically acclaimed and beloved by fans, he broke ground as a dark-skinned thespian performing leading roles, and delighted audiences with his impressive range. Viewers in the know will recognize the films referred to in the images that flank his likeness.<\/p>\n<p><strong>AUC Venture Lab and ITIDA launch startup training program:<\/strong> Tech entrepreneurs can now apply for <a href=\"https:\/\/www.tiec.gov.eg\/English\/Programs\/StartupLaunchpad\/Pages\/default.aspx\">Startup Launchpad<\/a>, an eight-week training program courtesy of the <a href=\"https:\/\/itida.gov.eg\/English\/Pages\/default.aspx\">Information Technology Industry Development Agency<\/a> (ITIDA) and AUC\u2019s Venture Lab, and delivered by the US\u2019 Babson Collaborative for Entrepreneurship Education, according to a <a href=\"https:\/\/ent.news\/2020\/11\/Startup-Launchpad-press-release.pdf\">press release (pdf)<\/a>. The program runs starting January and will culminate in a pitch day to investors in March. Applications are open until 3 January.<\/p>\n<p><strong>SIGN OF THE TIMES?<\/strong> <a href=\"https:\/\/twitter.com\/IsraelArabic\/status\/1330187738138759168?ref_src=twsrc%5Etfw\">A photo<\/a> of Mohamed Ramadan chilling with Israeli singer Omer Adam in Dubai has gone viral. The Egyptian star was <a href=\"https:\/\/see.news\/mohamed-ramadans-photo-with-israeli-singer-goes-viral\/\">reportedly forced onto the defensive<\/a> after catching heat from social media users for posing with an Israeli artist.<\/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\/auc-venture-lab\/\">AUC Venture Lab<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/entrepreneurship\/\">entrepreneurship<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/itida\/\">ITIDA<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/mohamed-ramadan\/\">Mohamed Ramadan<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/technology\/\">technology<\/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=\"576380\" 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=\"576380\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">8<\/div>\r\n\r\n                    <p class=\"f-graphik\">The Market Yesterday<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2020\/11\/22\/the-market-yesterday-212\/\">\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\/11\/22\/the-market-yesterday-212\/\" 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\/11\/22\/the-market-yesterday-212\/')\">\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\/11\/22\/the-market-yesterday-212\/\">\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\/11\/22\/the-market-yesterday-212\/\">\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\/11\/22\/the-market-yesterday-212\/&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%2F11%2F22%2Fthe-market-yesterday-212%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\/11\/22\/the-market-yesterday-212\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-576380\" class=\"content-area-description single-story post-576380 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 15.57 | Sell 15.67<\/p>\n<p> <strong>EGP \/ USD at CIB:<\/strong> Buy 15.57 | Sell 15.67<br \/>\n <strong>EGP \/ USD at NBE: <\/strong>Buy 15.59 | Sell 15.69<\/p>\n<p><strong>EGX30<\/strong> (Thursday): 10,899 (-0.8%)<br \/>\n <strong>Turnover:<\/strong> EGP 1.5 bn (33% above the 90-day average)<br \/>\n <strong>EGX 30 year-to-date<\/strong>: -21.9%<\/p>\n<p><strong>THE MARKET ON THURSDAY:<\/strong> The EGX30 ended Thursday\u2019s session down 0.8%. CIB, the index\u2019s heaviest constituent, ended down 1.1%. EGX30\u2019s top performing constituents were Heliopolis Housing up 4.1%, Oriental Weavers up 3.2%, and Pioneers Holding up 0.5%. Thursday\u2019s worst performing stocks were Dice down 4.2%, Ibnsina Pharma down 4.0% and Beltone Financial Holding down 2.6%. The market turnover was EGP 1.5 bn, and foreign investors were the sole net buyers.<\/p>\n<p><strong>Foreigners<\/strong>: Net long | EGP +128.4 mn<br \/>\n <strong>Regional<\/strong>: Net short | EGP -16.6 mn<br \/>\n <strong>Domestic<\/strong>: Net short | EGP -111.8 mn<\/p>\n<p><strong>Retail<\/strong>: 72.6% of total trades | 70.1% of buyers | 75.1% of sellers<br \/>\n <strong>Institutions<\/strong>: 27.4% of total trades | 29.9% of buyers | 24.9% of sellers<\/p>\n<p><strong>WTI:<\/strong> USD 42.42 (+1.24%)<br \/>\n <strong>Brent:<\/strong> USD 44.96 (+1.72%)<\/p>\n<p><strong>Natural Gas:<\/strong> (Nymex, futures prices) USD 2.65 MMBtu, (+2.24%, December 2020 contract)<br \/>\n <strong>Gold:<\/strong> USD 1,878.20 \/ troy ounce (+0.61%)<\/p>\n<p><strong>TASI:<\/strong> 8,578 (-0.50%) (YTD: +2.26%)<br \/>\n <strong>ADX:<\/strong> 4,913 (-0.78%) (YTD: -3.19%)<br \/>\n <strong>DFM:<\/strong> 2,316 (-0.34%) (YTD: -16.23%)<br \/>\n <strong>KSE Premier Market:<\/strong> 6,118 (+0.92%)<br \/>\n <strong>QE:<\/strong> 10,107 (-1.37%) (YTD: -3.05%)<br \/>\n <strong>MSM:<\/strong> 3,627 (+0.09%) (YTD: -8.88%)<br \/>\n <strong>BB: <\/strong>1,452 (+0.49%) (YTD: -9.82%)<\/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=\"576381\" 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\/11\/22\/576381\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-576381\" class=\"content-area-description single-story post-576381 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>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>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> and <a href=\"https:\/\/trans-mea.com\/\">TransMEA 2020<\/a>, Egypt International Exhibition Center, Nasr City, Cairo.<\/p>\n<p>23-24 November (Monday-Tuesday): Runoffs for parliamentary elections in Giza, Fayoum, Beni Suef, Minya, Assiut, New Valley, Sohag, Qena, Luxor, Aswan, Red Sea, Alexandria, Beheira, Matrouh.<\/p>\n<p>24-25 November (Tuesday-Wednesday): <a href=\"https:\/\/www.c-abcbusinessforum.ca\/1-Welcome\/\">Canada-Arab Business Forum<\/a> (virtual).<\/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: <a href=\"https:\/\/bit.ly\/3pMnWZ1\">A meeting<\/a> to finalize membership and trading rules governing Egypt\u2019s Commodities Exchange (<a href=\"http:\/\/www.egycomex.com\/\">Egycomex<\/a>).<\/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>4 December (Friday): <a href=\"https:\/\/www.instagram.com\/p\/CHvzHVcFJ7O\/?igshid=bxsvgdtchjln\">Cairo Art Fair<\/a> kicks off and runs through 31 January 2021.<\/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 December: Former Civil Aviation Minister Ahmed Shafik faces <a href=\"https:\/\/www.almasryalyoum.com\/news\/details\/2078662\">trial<\/a> over embezzlement allegations.<\/p>\n<p>7-8 December (Monday-Tuesday): Runoffs 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, Nile Ritz Carlton Hotel, Cairo, Egypt.<\/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 December (Tuesday): House of Representatives reconvenes from recess.<\/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>31 December (Thursday): Egypt-UK post-Brexit trade agreement <a href=\"http:\/\/english.ahram.org.eg\/NewsContent\/3\/12\/393664\/Business\/Economy\/EgyptUK-trade-agreement-takes-effect--December-UK-.aspx\">to take effect<\/a>.<\/p>\n<p>1Q2021: The Seventh Annual <a href=\"https:\/\/www.egyptautomotive.com\/1168552\">Egypt Automotive Summit<\/a> will be held<\/p>\n<p>1H2021: Egypt\u2019s Commodities Exchange (<a href=\"http:\/\/www.egycomex.com\/\">Egycomex<\/a>) will <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/448d2768-4310-463e-af98-dcd93cbfd05a\">begin trading<\/a>.<\/p>\n<p>1 January 2021 (Friday): New Year\u2019s Day, national holiday.<\/p>\n<p>7 January 2021 (Thursday): Coptic Christmas, national holiday.<\/p>\n<p>13-31 January (Wednesday-Sunday): Egypt will host the 2021 <a href=\"https:\/\/www.handballegypt2021.com\/\">Men\u2019s Handball World Championship<\/a> at the Giza Pyramids.<\/p>\n<p>25 January 2021 (Monday): 25 January revolution anniversary \/ Police Day.<\/p>\n<p>25-29 January 2021 (Monday-Friday): The World Economic Forum\u2019s \u201cDavos Dialogues\u201d will take place virtually.<\/p>\n<p>26-28 January (Tuesday-Thursday): Future Investment Initiative, Riyadh, Saudi Arabia.<\/p>\n<p>28 January 2021 (Thursday): National holiday in observance of 25 January revolution anniversary \/ Police Day.<\/p>\n<p>4 February 2021 (Thursday): The CBE\u2019s Monetary Policy Committee will meet to review interest rates.<\/p>\n<p>6-18 February (Saturday-Thursday): Mid-year school break.<\/p>\n<p>18 March 2021 (Thursday): The CBE\u2019s Monetary Policy Committee will meet to review interest rates.<\/p>\n<p>12 April 2021 (Monday): First day of Ramadan (TBC).<\/p>\n<p>25 April 2021 (Sunday): Sinai Liberation Day.<\/p>\n<p>29 April 2021 (Thursday): National holiday in observance of Sinai Liberation Day.<\/p>\n<p>29 April 2021 (Thursday): The CBE\u2019s Monetary Policy Committee will meet to review interest rates.<\/p>\n<p>3 May 2021 (Monday): Sham El Nessim.<\/p>\n<p>6 May 2021 (Thursday): National holiday in observance of Sham El Nessim.<\/p>\n<p>12-15 May 2021 (Wednesday-Saturday): Eid El Fitr (TBC).<\/p>\n<p>18-21 May 2021 (Tuesday-Friday): The World Economic Forum\u2019s annual meeting will be held under the theme of \u201cThe Great Reset\u201d in Lucerne-B\u00fcrgenstock, Switzerland<\/p>\n<p>31 May-2 June 2021 (Monday-Wednesday): <a href=\"https:\/\/www.egyps.com\/\">Egypt Petroleum Show<\/a>, Egypt International Exhibition Center, Nasr City, Cairo.<\/p>\n<p>1 June 2021 (Tuesday): The IMF will conduct a second review of targets set under the USD 5.2 bn standby loan approved in June 2020 (proposed date).<\/p>\n<p>10 June 2021 (Thursday): The CBE\u2019s Monetary Policy Committee will meet to review interest rates.<\/p>\n<p>24 June 2021 (Thursday): End of the 2020-2021 academic year.<\/p>\n<p>26-29 June 2021 (Saturday-Tuesday): <a href=\"https:\/\/www.thebig5constructegypt.com\/?utm_source=Adestra&utm_medium=email&CID=003D000002UIHn4IAH&utm_campaign=Egyp%5Bt%20postponement%20generic%20exp%20visp&utm_term&utm_content=7014G000001cG3zQAE&CNAME=Enterprise\">The Big 5 Construct Egypt<\/a>, Cairo International Convention Center<\/p>\n<p>22 July 2021 (Thursday): The CBE\u2019s Monetary Policy Committee will meet to review interest rates.<\/p>\n<p>30 July-3 August 2021 (Thursday-Monday): Eid Al Adha, national holiday (TBC).<\/p>\n<p>1 October 2021-31 March 2022 (Friday-Thursday): Postponed <a href=\"https:\/\/www.expo2020dubai.com\">Expo 2020 Dubai<\/a>.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n","protected":false},"excerpt":{"rendered":"","protected":false},"featured_media":576353,"menu_order":0,"template":"","categories":[],"tags":[],"class_list":["post-576352","issue","type-issue","status-publish","has-post-thumbnail","hentry","wpautop","entry"],"acf":{"mongo_id":"901cdeae-1228-41ed-b87d-77daafa9e8ac","teaser":"","photo_url":"https:\/\/ent.news\/2020\/11\/220.jpg"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Second round of covid stimulus gets okay from El Sisi - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/issues\/second-round-of-covid-stimulus-gets-okay-from-el-sisi\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta 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