{"id":591651,"date":"2019-12-12T04:25:23","date_gmt":"2019-12-12T04:25:23","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/?post_type=issue&#038;p=591651"},"modified":"2025-12-16T16:38:00","modified_gmt":"2025-12-16T16:38:00","slug":"how-the-sovereign-fund-of-egypt-is-building-its-portfolio","status":"publish","type":"issue","link":"https:\/\/enterpriseam.com\/egypt\/issues\/how-the-sovereign-fund-of-egypt-is-building-its-portfolio\/","title":{"rendered":"How the Sovereign Fund of Egypt is building its portfolio"},"content":{"rendered":"<section id=\"591653\" 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=\"591653\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">1<\/div>\r\n\r\n                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category-what-were-tracking-today tag-algeria tag-aramco tag-central-bank-of-egypt tag-enterpriseam tag-interest-rates tag-ipo-watch tag-israel tag-monetary-policy tag-politics tag-rameda-pharma tag-us-federal-reserve tag-us-china-trade-war tag-what-were-tracking-today wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<aside>\t\t\t<div\r\n\t\t\t\t\t\t\t\tclass=\"newspack-popup-container newspack-popup hidden  newspack-inline-popup  newspack-lightbox-no-border   \"\r\n\t\t\t\trole=\"button\"\r\n\t\t\t\ttabindex=\"0\"\r\n\t\t\t\tstyle=\"background-color:#FFFFFF;color:#000\"\r\n\t\t\t\tid=\"id_27645\"\r\n\t\t\t\tdata-segments=\"\"\r\n\t\t\t\tdata-frequency=\"0,0,0,month\"\r\n\t\t\t>\r\n\t\t\t\t\n<div class=\"wp-block-group has-light-gray-background-color has-background\" style=\"padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px\"><div class=\"wp-block-group__inner-container is-layout-constrained wp-container-core-group-is-layout-ef38739e wp-block-group-is-layout-constrained\">\n<div class=\"wp-block-group is-content-justification-center is-nowrap is-layout-flex wp-container-core-group-is-layout-94bc23d7 wp-block-group-is-layout-flex\">\n<p class=\"f-graphik\" style=\"font-size:14px\">Together with<\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full\"><img decoding=\"async\" src=\"https:\/\/s3.amazonaws.com\/resources.inktankir.com\/internal\/27482.svg\" alt=\"\" class=\"wp-image-27482\"\/><\/figure>\n<\/div><\/div>\n<\/div><\/div>\n\t\t\t<\/div>\r\n\t\t<\/aside>\n<p><strong>It\u2019s a relatively quiet morning heading into the weekend.<\/strong> It is also a little early for the holiday-season news slowdown, so don\u2019t get your hopes up quite yet, ladies and gentlemen.<\/p><p><strong>Perhaps the biggest news of the day: You may want to bring an umbrella with <\/strong><strong>you this morning. <\/strong><a href=\"https:\/\/www.facebook.com\/ema.gov.eg\/photos\/a.1606698572698165\/2901212289913447\/?type=3&amp;theater\">The Egyptian Meteorological Authority<\/a> is forecasting a daytime high of 20\u00b0C and a chance of showers before overnight lows of 12\u00b0C.<\/p><p><strong>CBE board shakeup soon? <\/strong>We could be seeing new faces on the Central Bank of Egypt\u2019s board of directors\u2019 table soon as Governor Tarek Amer, who was reappointed by the president last month, begins his second term in office, senior banking sources were quoted by <a href=\"https:\/\/www.almasryalyoum.com\/news\/details\/1451283\">Al Masry Al Youm as saying<\/a>.<\/p><p><strong>Election news is everywhere<\/strong> in the international press this morning:<\/p><ul>\n<li><strong>The UK goes to the polls today<\/strong> in what the two largest parties are calling the \u201cmost important election in a generation.\u201d Pundits are predicting that Prime Minister Boris Johnson will be re-elected, but the size of his majority is in question. (<a href=\"https:\/\/www.reuters.com\/article\/us-britain-election\/uk-pm-johnson-heads-for-brexit-election-win-in-tightening-race-idUSKBN1YF11Z\">Reuters<\/a>)<\/li>\n<li><strong>Algeria\u2019s presidential elections will see mns go to the polls tomorrow<\/strong> amid opposition from the anti-government protest movement which has denounced the election as neither free nor fair. (<a href=\"https:\/\/www.theguardian.com\/world\/2019\/dec\/10\/protest-movement-likely-shun-algeria-controversial-election\">The Guardian<\/a>)<\/li>\n<li><strong>Israel is on its way to its third election in nearly a year<\/strong>, after a deadline passed yesterday for caretaker PM Benjamin Netanyahu and his centrist rival Benny Gantz to resolve the deadlock that followed votes in April and September. (<a href=\"https:\/\/www.nytimes.com\/2019\/12\/11\/world\/middleeast\/israel-election-vote-netanyahu.html\">NYT<\/a>)<\/li>\n<\/ul><p><strong>Saudi Aramco shares rose 10% yesterday in their trading debut<\/strong>, closing at SAR 35.20, with the rise capped by an upward limit set by the Tadawul, the <a href=\"https:\/\/www.wsj.com\/articles\/aramco-shares-rise-10-after-worlds-biggest-ipo-11576050635?mod=hp_lead_pos1\">Wall Street Journal reports<\/a>. The listing, which raised USD 25.6 bn, primarily from Saudi investors, is the world\u2019s largest, even if it did not meet Crown Prince Mohammed bin Salman\u2019s original goals to raise USD 100 bn. Aramco\u2019s underwriters could make use of an option to sell up to 15% more shares in the first 30 days of trading if demand proves higher than expected, which would increase the money raised to nearly USD 30 bn.<\/p><p><a class=\"content-anchor\" id=\"tldr-story-05\"><\/a> <strong>Fed keeps rates on hold, signals easing will be on pause next year:<\/strong> In line with market expectations, the US Federal Reserve\u2019s Open Market Committee unanimously decided yesterday to keep rates on hold after three cuts this year. The Fed <a href=\"https:\/\/www.federalreserve.gov\/newsevents\/pressreleases\/monetary20191211a.htm\">said in a statement<\/a> that the \u201cstrong\u201d labor market and moderately rising economic activity, coupled with increased household spending led policymakers to maintain rates to support economic activity and keep inflation \u201cnear the Committee\u2019s symmetric 2 percent objective.\u201d<\/p><p><strong>The Fed also signaled that it will pause easing next year.<\/strong> Yesterday\u2019s statement did not allude to the \u201cuncertainties\u201d the Fed had cited at its last meeting, <a href=\"https:\/\/www.ft.com\/content\/cf4ad10a-1c43-11ea-97df-cc63de1d73f4\">the Financial Times notes<\/a>, which NatWest Markets\u2019 head of strategy John Briggs suggests is \u201ca signal that they feel pretty confident about what they have achieved and where they are with rates.\u201d<\/p><p class=\"web-image\"><a href=\"https:\/\/www.ft.com\/content\/703a8684-1b6b-11ea-9186-7348c2f183af\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2019\/12\/680.jpg?ssl=1\" alt=\"enterprise\"><\/a><\/p><p><strong>US equities<\/strong><strong>\u2019 winning streak to continue into 2020 -investment banks:<\/strong> Lower interest rates and strong fundamentals will lead US stocks to fresh record highs in the new year, US investment banks have predicted. Optimism surrounding US-China trade and the Fed\u2019s three consecutive rate cuts have pushed the S&amp;P 500 to all-time highs in recent weeks, keeping it on track to finish the year up 25% \u2014 its third-best annual performance since 2000. This has led to investment banks forecasting a continued, albeit weaker, market rally in 2020, with eight banks projecting average growth of 4.6% over the 12 months. <strong>Morgan Stanley is the only outlier<\/strong>, with analysts predicting the market to finish 4% in the red on anemic earnings growth. <a href=\"https:\/\/www.ft.com\/content\/703a8684-1b6b-11ea-9186-7348c2f183af\">The Financial Times has the story<\/a>.<\/p><p><a class=\"content-anchor\" id=\"tldr-story-06\"><\/a> <strong>Don\u2019t give up on climate funds, JPMorgan says:<\/strong> Investors should look past the meager returns delivered by climate change-linked funds and wait it out to see long-term gains, JPMorgan strategists say, <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2019-12-11\/jpmorgan-says-climate-change-funds-will-pay-off-eventually?srnd=premium-middle-east\">according to Bloomberg<\/a>. High fund fees, low profits, and the slow pace at which society is responding to climate change have all prevented these products paying out higher returns. But increasing public demands for stricter emissions targets and the increasing popularity of climate funds will boost their performance over the coming years, they say.<\/p><p><strong>But one company is setting out its case for the status quo:<\/strong> Natural resources giant BHP is advising investors to pile into hydrocarbons, claiming that a supply gap over the coming 15 years will deliver huge returns, <a href=\"https:\/\/www.ft.com\/content\/daff20f0-1b3a-11ea-97df-cc63de1d73f4\">the Financial Times says<\/a>.<\/p><p><strong>Mubadala sets USD 40 bn AUM target:<\/strong> The Abu Dhabi sovereign wealth fund\u2019s investment arm Mubadala Capital intends to increase its assets under management to USD 40 bn \u201cover the medium-term horizon\u201d from USD 25 bn currently, Deputy CEO Waleed Al Muhairi said. Around USD 6 bn of this is expected to come from institutional investors, almost twice the USD 3.4 bn currently managed by the fund. <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2019-12-11\/mubadala-capital-seeks-to-double-third-party-funds-to-6-billion\">Bloomberg had more<\/a>.<\/p><p class=\"web-image stand-out-borderless\"><a href=\"http:\/\/somabay.com\/\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2019\/12\/Spa-1600px.jpg?ssl=1\" alt=\"enterprise\"><\/a><\/p><p><strong>Volcker takes parting shot at Trump in posthumous letter:<\/strong> Recently deceased former Fed chairman Paul Volcker slammed US President Donald Trump\u2019s attempts to meddle with central bank policy in an afterword to his forthcoming autobiography written three months ago, <a href=\"https:\/\/www.ft.com\/content\/2389d7ec-1b3c-11ea-97df-cc63de1d73f4\">the FT reports<\/a>. \u201cNot since just after the second world war have we seen a president so openly seek to dictate policy to the Fed. That is a matter of great concern, given that the central bank is one of our key governmental institutions, carefully designed to be [devoid] of purely partisan attacks,\u201d he wrote.<\/p><p><strong>US democracy is under serious threat<\/strong>, Volcker writes, in a somber warning of the challenges facing the country\u2019s political system. \u201cNihilistic forces are dismantling policies to protect our air, water, and climate. And they seek to discredit the pillars of our democracy: voting rights and fair elections, the rule of law, the free press, the separation of powers, the belief in science, and the concept of truth itself,\u201d he said.<\/p><hr class=\"grey-line\"><p><strong>Will The Donald and Xi announce an agreement this weekend? <\/strong>The US and China could announce an \u201celeventh hour\u201d trade agreement and put the brakes on the 15% tariff on USD 160 bn in Chinese goods that are set to take hold on Sunday, Slatestone Wealth strategist Kenny Polcari <a href=\"https:\/\/www.cnbc.com\/2019\/12\/11\/us-china-trade-deal-will-happen-before-dec-15-tariffs-analysts-say.html\">tells CNBC<\/a>.<\/p><p class=\"web-image\"><a href=\"https:\/\/blog.google\/around-the-globe\/google-middle-east\/making-our-products-more-helpful-arabic\/\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2019\/12\/2825.jpg?ssl=1\" alt=\"enterprise\"><\/a><\/p><p><strong>Google <\/strong><strong>Maps launched a new motorcycle mode in Egypt<\/strong> to guide the country\u2019s &gt;4 mn motorbikes through \u201ccongestion on Egypt\u2019s busiest highways by following shortcuts and local roads,\u201d Google said <a href=\"https:\/\/blog.google\/around-the-globe\/google-middle-east\/making-our-products-more-helpful-arabic\/\">earlier this week<\/a>. The feature will next be rolled out in Algeria and Tunisia before being introduced to other countries.<\/p><p class=\"web-image\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2019\/12\/804.jpg?ssl=1\" alt=\"enterprise\"><\/p><p><strong>Make your weekend listening the fourth episode of Making It<\/strong>, our podcast on how to build a great business here in Egypt. It will be in podcast feeds this afternoon. Our guest talks fashion, design, the business of creativity \u2014 and generational change in a family business.<\/p><p><strong>Did you miss last week\u2019s episode with EFG Hermes\u2019 Karim Awad?<\/strong> You can listen to it on <a href=\"https:\/\/press.us9.list-manage.com\/track\/click?u=3f7bc576715ca1a70edef2788&amp;id=af85aeee36&amp;e=44bedb15f2\">our website<\/a> | <a href=\"https:\/\/press.us9.list-manage.com\/track\/click?u=3f7bc576715ca1a70edef2788&amp;id=6881898e93&amp;e=44bedb15f2\">Apple Podcast<\/a> | <a href=\"https:\/\/press.us9.list-manage.com\/track\/click?u=3f7bc576715ca1a70edef2788&amp;id=fe9d93e4d0&amp;e=44bedb15f2\">Google Podcast<\/a>.<\/p>\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/algeria\/\">Algeria<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/aramco\/\">Aramco<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\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\/interest-rates\/\">interest rates<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/ipo-watch\/\">IPO watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/israel\/\">Israel<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                       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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=\"591655\">\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\/2019\/12\/12\/aswan-forum-reigns-supreme-on-egypts-airwaves\/\">\r\n                            Aswan Forum reigns supreme 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        <img decoding=\"async\" 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\r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2019\/12\/12\/aswan-forum-reigns-supreme-on-egypts-airwaves\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-591655\" class=\"content-area-description single-story post-591655 post type-post status-publish format-standard hentry category-enterprise-last-nights-talk-shows tag-abdel-fattah-el-sisi tag-africa tag-development tag-diplomacy tag-enterprise-last-nights-talk-shows tag-enterpriseam tag-renewables tag-terrorism wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>Talking point of the day: <\/strong>The Aswan Forum for Sustainable Peace and Development, which got underway yesterday, was unsurprisingly the talk of the town on the airwaves last night.<\/p>\n<p><strong>El Sisi addresses terrorism, importance of working for African stability in opening speech:<\/strong> President Abdel Fattah El Sisi used his opening speech at the forum to call on the international community to take a stand against terrorism-sponsoring countries and work towards eradicating terrorism, which gives rise to other issues such as organized crime, illegal immigration, and human trafficking. The president also stressed the need to ensure sustainable development across Africa, Al Hayah Al Youm\u2019s Lobna Assal noted in her recap of the opening address<a href=\"https:\/\/www.youtube.com\/watch?v=YGjyYxq3Xcs\"><\/a><a href=\"https:\/\/www.youtube.com\/watch?v=YGjyYxq3Xcs\">(watch, runtime: 6:27)<\/a>. The <a href=\"https:\/\/www.voanews.com\/africa\/egypt-urges-decisive-action-against-states-backing-terror\">Associated Press<\/a> also took note of El Sisi\u2019s speech.<\/p>\n<p><strong>Benban steals the spotlight:<\/strong> The official inauguration of the 1.5 GW Benban Solar Power Park in Aswan also earned plenty of attention from the talking heads. Assal gave viewers a refresher on the solar park and its contributions to the economy and reduction of annual carbon emissions<a href=\"https:\/\/www.youtube.com\/watch?v=kvgdDtpmIWk\"><\/a><a href=\"https:\/\/www.youtube.com\/watch?v=kvgdDtpmIWk\">(watch, runtime: 3:55)<\/a>. New and Renewable Energy Authority head Mohamed El Khayat phoned in to Al Hayah Al Youm to brief Assal on the project, which he noted has been fully operational since the end of October <a href=\"https:\/\/www.youtube.com\/watch?v=lCgHa97XFEo\">(watch, runtime: 4:49)<\/a>. Min Masr's Amr Khalil also took note of the park\u2019s inauguration as part of a rundown of El Sisi\u2019s agenda at the forum <a href=\"https:\/\/youtu.be\/kkK7b7hWSHg\">(watch, runtime: 2:30)<\/a>.<\/p>\n<p><strong>Also from the forum:<\/strong><\/p>\n<ul>\n<li>El Sisi met with the <strong>presidents of <\/strong><strong><a href=\"https:\/\/bit.ly\/35bsmxO\">Niger<\/a><\/strong><strong>, <\/strong><strong><a href=\"https:\/\/bit.ly\/2LJr1GQ\">Senegal<\/a><\/strong><strong>, and <\/strong><strong><a href=\"https:\/\/bit.ly\/36xL3Mt\">Chad<\/a><\/strong> on the sidelines of the forum to talk cooperation on infrastructure and other areas of development, Khalil noted on Min Masr <a href=\"https:\/\/youtu.be\/COlU7e3qzGA\">(watch, runtime: 1:10)<\/a>.<\/li>\n<li>African Development Bank President told Masaa DMC\u2019s Ramy Radwan that <strong>Africa is ripe for investment<\/strong>, particularly as the continent holds vast natural resources, including fertile land for agriculture <a href=\"https:\/\/www.youtube.com\/watch?v=bZAW-TgtpgY\">(watch, runtime: 16:10)<\/a>.<\/li>\n<li><strong>United Nations Secretary-General Ant\u00f3nio Guterres<\/strong> called for governments to encourage the participation of women and youth to spur sustainable and comprehensive development in Africa, Masaa DMC reported<a href=\"https:\/\/www.youtube.com\/watch?v=ZC4F51qVLGM\"><\/a><a href=\"https:\/\/www.youtube.com\/watch?v=ZC4F51qVLGM\">(watch, runtime: 1:12)<\/a>.<\/li>\n<\/ul>\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\/abdel-fattah-el-sisi\/\">Abdel Fattah El Sisi<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/africa\/\">Africa<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/development\/\">development<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/diplomacy\/\">DIPLOMACY<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/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\/renewables\/\">renewables<\/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=\"591656\" 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=\"591656\">\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\/2019\/12\/12\/investor-appetite-will-determine-the-sovereign-fund-of-egypts-asset-selections-says-ceo\/\">\r\n                            Investor appetite will determine the Sovereign Fund of Egypt\u2019s asset selections, says CEO                        <\/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\/2019\/12\/12\/investor-appetite-will-determine-the-sovereign-fund-of-egypts-asset-selections-says-ceo\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); 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The ongoing sale of a 70% stake in the first of three Siemens \/ Elsewedy Electric \/ Orascom Construction combined-cycle power plants is the first example of how the fund will be managing its assets. By keeping the remaining 30% stake for itself, the fund is also signaling that it is \u201caligned with the investors who come along,\u201d Soliman says. So far, <a href=\"https:\/\/enterprise.press\/stories\/2019\/11\/25\/actis-confirms-its-bidding-for-a-stake-in-egypts-combined-cycle-plants-6971\/\">six or seven buyers have already<\/a><a href=\"https:\/\/enterprise.press\/stories\/2019\/11\/25\/actis-confirms-its-bidding-for-a-stake-in-egypts-combined-cycle-plants-6971\/\">expressed interest<\/a> in the transaction, which is expected to be finalized in 2020.<\/p>\n<p><strong>The fund plans to take some of its \u201ccherry-picked\u201d assets to the EGX<\/strong>, which it hopes will give the exchange a boost. \u201cOur three-to-four year plan is to create multiple asset classes that are offloaded to the market. We will enrich the [stock] exchange. We can tag along with a stake, but we will have to list those entities,\u201d Soliman tells the newswire. According to the CEO, the fund is looking to secure a 6-7% yield on the investments it will offer through its portfolio.<\/p>\n<p><strong>By straddling the line between government and the private sector<\/strong>, the fund will be able to \u201cdo things differently, unshackled from all those bureaucracies, and improve the way of doing business itself and work with the checks and balances within the government management that investors cannot navigate,\u201d Soliman says.<\/p>\n<p><strong>What\u2019s in the fund\u2019s portfolio so far?<\/strong> The Supply Ministry, for one, <a href=\"https:\/\/enterprise.press\/stories\/2019\/11\/21\/tharaa-will-not-crowd-out-private-sector-soliman-6803\/\">has identified<\/a> 6 mn sqm of unexploited assets owned directly by the ministry or through its affiliated bodies. The Sovereign Fund of Egypt, which currently has a paid-in capital of EGP 1 bn, is also eyeing potential real estate assets, including government-owned buildings in downtown Cairo that will be vacated once the move to the new administrative capital, as well as other options in mining, petrochems, and SME finance. The fund has <a href=\"https:\/\/enterprise.press\/stories\/2019\/11\/20\/egyptian-sovereign-wealth-fund-tharaa-receives-seven-partnership-offers-6745\/\">received seven offers from investors<\/a> for potential partnerships in healthcare, pharma, and agricultural manufacturing ventures. The fund is also working on drumming up investor interest in the Gulf, and is currently <a href=\"https:\/\/enterprise.press\/stories\/2019\/11\/19\/egypts-tharaa-mulls-cooperation-with-oman-investment-fund-6542\/\">in talks with Oman<\/a> for cooperation, having already sealed a <a href=\"https:\/\/enterprise.press\/stories\/2019\/11\/17\/egypts-tharaa-establishes-a-usd-20-bn-investment-platform-with-abu-dhabi-holding-company-6357\/\">USD 20 bn investment platform<\/a> with Abu Dhabi Holding Company.<\/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\/ayman-soliman\/\">Ayman Soliman<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/egx\/\">EGX<\/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\/sovereign-fund-of-egypt\/\">Sovereign Fund of Egypt<\/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=\"591666\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"591667\" 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=\"591667\">\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\/2019\/12\/12\/how-do-analysts-feel-about-emerging-markets-going-into-2020\/\">\r\n                            How do analysts feel about emerging markets going into 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\/2019\/12\/12\/how-do-analysts-feel-about-emerging-markets-going-into-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\/2019\/12\/12\/how-do-analysts-feel-about-emerging-markets-going-into-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\/2019\/12\/12\/how-do-analysts-feel-about-emerging-markets-going-into-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=How do analysts feel about emerging markets going into 2020?&url=https:\/\/enterpriseam.com\/egypt\/2019\/12\/12\/how-do-analysts-feel-about-emerging-markets-going-into-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\/2019\/12\/12\/how-do-analysts-feel-about-emerging-markets-going-into-2020\/&title=How do analysts feel about emerging markets going into 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=How+do+analysts+feel+about+emerging+markets+going+into+2020%3F+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2019%2F12%2F12%2Fhow-do-analysts-feel-about-emerging-markets-going-into-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\/2019\/12\/12\/how-do-analysts-feel-about-emerging-markets-going-into-2020\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2019\/12\/2354.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"591668\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2019\/12\/12\/how-do-analysts-feel-about-emerging-markets-going-into-2020\/2354-jpg-2\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2019\/12\/2354.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"2354.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2019\/12\/2354.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2019\/12\/2354.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-591667\" class=\"content-area-description single-story post-591667 post type-post status-publish format-standard has-post-thumbnail hentry category-the-macro-picture tag-bonds tag-currencies tag-emerging-markets tag-enterpriseam tag-equities tag-investment-watch tag-msci tag-the-macro-picture 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>How do analysts feel about emerging markets going into 2020?<\/strong> Emerging markets are set to outperform developed markets in 2020, predict 57 global investors, traders and strategists in <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2019-12-10\/the-emerging-market-rebound-looks-set-to-stretch-into-2020\">a Bloomberg survey<\/a>, with all assets \u2014 currencies, stocks, and bonds \u2014 having rallied this year after 2018\u2019s EM Zombie Apocalypse.<\/p>\n<p><strong>Total wealth in EM stocks and bonds now exceeds USD 25 tn<\/strong>, while data shows that EM investors have seen returns of USD 11 tn in the last decade. The combined equity value of the 26 markets on the MSCI EM Index has increased by USD 6.6 tn since 2010, while local currency bonds added USD 2.9 tn, USD bonds 1.7 tn, and EUR-denominated securities USD 237 bn during this time period. MSCI\u2019s equities gauge is up 9.6% and its currency gauge rose 1.4% this year.<\/p>\n<p><strong>Hard currency bonds have performed particularly well<\/strong>, but while three-quarters of investor inflows into EM government bonds have gone into those held in hard currency in the last few years, a very recent shift may indicate increased investor appetite for local currency bonds, said <a href=\"https:\/\/expertinvestoreurope.com\/2020-view-how-are-investors-feeling-about-emerging-markets\/\">Liam Spillane, head of EM debt at Aviva<\/a>.<\/p>\n<p><strong>EM corporate bonds still don\u2019t have the same pull<\/strong>, but awareness of their benefits as an asset class is increasing. Their risk-return profile has become more attractive, and there are indications that structural demand for them will continue to grow, a number of analysts say.<\/p>\n<p><strong>Not everyone\u2019s so optimistic:<\/strong> EM equities have yet to resume their 1998-2008 bull market performance, says Philip Lawlor, managing director for global markets research at FTSE Russell, who sees concerns about the vulnerability of EM corporate profits and the impact of an appreciating USD on USD-denominated debt exposure as impeding growth.<\/p>\n<p><strong>But overall, sentiment is good.<\/strong> \u201cI\u2019m still quite bullish on emerging markets heading into 2020,\u201d said Takeshi Yokouchi, a senior fund manager at Sumitomo Mitsui DS Asset Management. \u201cUnderlying supporting factors for EM still remain, with very low rates globally, and that will encourage investors to look at higher-yielding assets.\u201d<\/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\/bonds\/\">Bonds<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/currencies\/\">currencies<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/emerging-markets\/\">emerging markets<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/equities\/\">equities<\/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\/msci\/\">MSCI<\/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                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"591669\" 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=\"591669\">\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\/2019\/12\/12\/egypt-in-the-news-on-12-december-2019\/\">\r\n                            Egypt in the News on 12 December 2019                        <\/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\/2019\/12\/12\/egypt-in-the-news-on-12-december-2019\/\" 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\/2019\/12\/12\/egypt-in-the-news-on-12-december-2019\/')\">\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\/2019\/12\/12\/egypt-in-the-news-on-12-december-2019\/\">\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 12 December 2019&url=https:\/\/enterpriseam.com\/egypt\/2019\/12\/12\/egypt-in-the-news-on-12-december-2019\/\">\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\/2019\/12\/12\/egypt-in-the-news-on-12-december-2019\/&title=Egypt in the News on 12 December 2019\">\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+12+December+2019+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2019%2F12%2F12%2Fegypt-in-the-news-on-12-december-2019%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\/2019\/12\/12\/egypt-in-the-news-on-12-december-2019\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-591669\" class=\"content-area-description single-story post-591669 post type-post status-publish format-standard hentry category-egypt-in-the-news tag-china tag-committee-to-protect-journalists tag-egypt-in-the-news tag-enterpriseam tag-human-rights tag-journalism tag-media tag-turkey wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>Egypt<\/strong><strong> is tied with Saudi Arabia <\/strong><strong>for having <\/strong><strong>the world\u2019s third-highest number of jailed journalists<\/strong>, according to the <a href=\"https:\/\/cpj.org\/reports\/2019\/12\/journalists-jailed-china-turkey-saudi-arabia-egypt.php\">Committee to Protect Journalists\u2019 (CPJ)<\/a> latest survey. Both Egypt and Saudi Arabia currently hold 26 reporters behind bars, compared to 48 in China and 47 in Turkey. The report is getting widespread attention in the foreign press: <a href=\"https:\/\/www.nytimes.com\/2019\/12\/11\/world\/china-turkey-journalists.html\">New York Times<\/a> | <a href=\"https:\/\/uk.reuters.com\/article\/uk-global-rights-journalists\/china-imprisoned-more-journalists-than-any-other-country-in-2019-cpj-idUKKBN1YF0K4\">Reuters<\/a> | <a href=\"https:\/\/edition.cnn.com\/2019\/12\/11\/media\/journalists-jailed-intl-scli\/index.html\">CNN<\/a> | <a href=\"https:\/\/www.voanews.com\/press-freedom\/most-jailed-journalists-china-turkey-saudi-arabia-egypt-again-top-annual-cpj-report\">Voice of America<\/a> | <a href=\"https:\/\/www.forbes.com\/sites\/isabeltogoh\/2019\/12\/11\/china-jailed-the-most-journalists-this-year-these-countries-are-not-far-behind\/\">Forbes<\/a> | <a href=\"https:\/\/www.dw.com\/en\/china-turkey-jail-more-journalists-than-any-other-country-report\/a-51619255\">Deutsche Welle<\/a> | <a href=\"https:\/\/www.vice.com\/en_us\/article\/bvggnv\/china-just-overtook-turkey-as-the-worlds-biggest-jailer-of-journalists\">Vice<\/a>.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/china\/\">China<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/committee-to-protect-journalists\/\">Committee to Protect Journalists<\/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\/human-rights\/\">human rights<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/journalism\/\">journalism<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/media\/\">media<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/turkey\/\">Turkey<\/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=\"591670\" 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=\"591670\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">6<\/div>\r\n\r\n                    <p class=\"f-graphik\">Worth reading<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2019\/12\/12\/increased-digitization-and-monopolization-could-make-capital-markets-less-shock-resistant\/\">\r\n                            Increased digitization and monopolization could make capital markets less shock-resistant                        <\/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\/2019\/12\/12\/increased-digitization-and-monopolization-could-make-capital-markets-less-shock-resistant\/\" 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\/2019\/12\/12\/increased-digitization-and-monopolization-could-make-capital-markets-less-shock-resistant\/')\">\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\/2019\/12\/12\/increased-digitization-and-monopolization-could-make-capital-markets-less-shock-resistant\/\">\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=Increased digitization and monopolization could make capital markets less shock-resistant&url=https:\/\/enterpriseam.com\/egypt\/2019\/12\/12\/increased-digitization-and-monopolization-could-make-capital-markets-less-shock-resistant\/\">\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\/2019\/12\/12\/increased-digitization-and-monopolization-could-make-capital-markets-less-shock-resistant\/&title=Increased digitization and monopolization could make capital markets less shock-resistant\">\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=Increased+digitization+and+monopolization+could+make+capital+markets+less+shock-resistant+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2019%2F12%2F12%2Fincreased-digitization-and-monopolization-could-make-capital-markets-less-shock-resistant%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\/2019\/12\/12\/increased-digitization-and-monopolization-could-make-capital-markets-less-shock-resistant\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2019\/2\/2342.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"591671\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2019\/12\/12\/increased-digitization-and-monopolization-could-make-capital-markets-less-shock-resistant\/2342-jpg-4\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2019\/2\/2342.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"2342.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2019\/2\/2342.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2019\/2\/2342.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-591670\" class=\"content-area-description single-story post-591670 post type-post status-publish format-standard has-post-thumbnail hentry category-worth-reading tag-data tag-enterpriseam tag-financial-markets tag-technology tag-worth-reading wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>AI is accelerating concentration in capital markets \u2014 and regulators are worried: <\/strong>AI is starting to make inroads into capital markets, with computer-driven funds now constituting a fifth of US equity assets under management. But regulators fear that the machine-learning models able to process more data will result in potentially destabilizing market concentration. New firms will find it increasingly difficult to enter the markets, ultimately making them more vulnerable to unexpected shocks as they become ever more dependent on a limited number of entities and data-based relationships. <a href=\"https:\/\/www.ft.com\/content\/0b660446-1827-11ea-9ee4-11f260415385\">The Financial Times has more<\/a>.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/data\/\">data<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/financial-markets\/\">Financial Markets<\/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                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/worth-reading\/\">worth reading<\/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=\"591672\" 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=\"591672\">\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\">Diplomacy + Foreign Trade<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2019\/12\/12\/egypts-foreign-ministry-talks-politics-with-cyprus-representatives\/\">\r\n                            Egypt's Foreign Ministry talks politics with Cyprus representatives                        <\/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\/2019\/12\/12\/egypts-foreign-ministry-talks-politics-with-cyprus-representatives\/\" 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\/2019\/12\/12\/egypts-foreign-ministry-talks-politics-with-cyprus-representatives\/')\">\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\/2019\/12\/12\/egypts-foreign-ministry-talks-politics-with-cyprus-representatives\/\">\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's Foreign Ministry talks politics with Cyprus representatives&url=https:\/\/enterpriseam.com\/egypt\/2019\/12\/12\/egypts-foreign-ministry-talks-politics-with-cyprus-representatives\/\">\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\/2019\/12\/12\/egypts-foreign-ministry-talks-politics-with-cyprus-representatives\/&title=Egypt's Foreign Ministry talks politics with Cyprus representatives\">\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%27s+Foreign+Ministry+talks+politics+with+Cyprus+representatives+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2019%2F12%2F12%2Fegypts-foreign-ministry-talks-politics-with-cyprus-representatives%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\/2019\/12\/12\/egypts-foreign-ministry-talks-politics-with-cyprus-representatives\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-591672\" class=\"content-area-description single-story post-591672 post type-post status-publish format-standard hentry category-diplomacy-foreign-trade tag-cyprus tag-diplomacy-foreign-trade tag-enterpriseam tag-eu tag-greece tag-illegal-immigration tag-libya tag-turkey wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>Foreign Ministry hosts political talks with Cypriot officials:<\/strong> The Foreign Ministry held a round of political discussions with the secretary of the Cyprus Ministry of Foreign Affairs, Tasos Tzionis on mutual cooperation, energy, and illegal immigration, <a href=\"https:\/\/www.facebook.com\/MFAEgypt\/posts\/3388136984591557\">according to a ministry statement<\/a>.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/cyprus\/\">Cyprus<\/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\/eu\/\">EU<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/greece\/\">Greece<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/illegal-immigration\/\">illegal immigration<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/libya\/\">Libya<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/turkey\/\">Turkey<\/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=\"591673\" 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=\"591673\">\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\">Real Estate + Housing<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2019\/12\/12\/bonyans-walk-of-cairo-to-open-in-1h2020\/\">\r\n                            Bonyan\u2019s Walk of Cairo to open in 1H2020                        <\/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\/2019\/12\/12\/bonyans-walk-of-cairo-to-open-in-1h2020\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n           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1H2020&url=https:\/\/enterpriseam.com\/egypt\/2019\/12\/12\/bonyans-walk-of-cairo-to-open-in-1h2020\/\">\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\/2019\/12\/12\/bonyans-walk-of-cairo-to-open-in-1h2020\/&title=Bonyan\u2019s Walk of Cairo to open in 1H2020\">\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=Bonyan%E2%80%99s+Walk+of+Cairo+to+open+in+1H2020+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2019%2F12%2F12%2Fbonyans-walk-of-cairo-to-open-in-1h2020%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\/2019\/12\/12\/bonyans-walk-of-cairo-to-open-in-1h2020\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-591673\" class=\"content-area-description single-story post-591673 post type-post status-publish format-standard hentry category-real-estate-housing tag-compass-capital tag-development tag-enterpriseam tag-real-estate-housing wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p>Compass Capital-backed Bonyan for Development and Trade will open its \u2018<a href=\"https:\/\/enterprise.press\/stories\/2019\/01\/20\/bonyan-launches-outdoor-complex-the-walk-of-life\/\">Walk of Cairo<\/a>\u2019 project in 1H2020, Compass Managing Partner Tarek Abdel Rahman <a href=\"https:\/\/bit.ly\/343NZPf\">told Al Mal<\/a>. The Sheikh Zayed complex will include shopping outlets, a wellness center, food shops, and family entertainment facilities.<\/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\/compass-capital\/\">Compass Capital<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/development\/\">development<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/real-estate-housing\/\">Real Estate + Housing<\/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=\"591675\" 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=\"591675\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">9<\/div>\r\n\r\n                    <p class=\"f-graphik\">Tourism<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2019\/12\/12\/rare-king-ramses-ii-statue-unearthed-in-mit-rahina\/\">\r\n                            Rare King Ramses II statue unearthed in Mit Rahina                        <\/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\/2019\/12\/12\/rare-king-ramses-ii-statue-unearthed-in-mit-rahina\/\" 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\/2019\/12\/12\/rare-king-ramses-ii-statue-unearthed-in-mit-rahina\/')\">\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\/2019\/12\/12\/rare-king-ramses-ii-statue-unearthed-in-mit-rahina\/\">\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=Rare King Ramses II statue unearthed in Mit Rahina&url=https:\/\/enterpriseam.com\/egypt\/2019\/12\/12\/rare-king-ramses-ii-statue-unearthed-in-mit-rahina\/\">\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\/2019\/12\/12\/rare-king-ramses-ii-statue-unearthed-in-mit-rahina\/&title=Rare King Ramses II statue unearthed in Mit Rahina\">\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=Rare+King+Ramses+II+statue+unearthed+in+Mit+Rahina+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2019%2F12%2F12%2Frare-king-ramses-ii-statue-unearthed-in-mit-rahina%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\/2019\/12\/12\/rare-king-ramses-ii-statue-unearthed-in-mit-rahina\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-591675\" class=\"content-area-description single-story post-591675 post type-post status-publish format-standard hentry category-tourism tag-archaeology tag-enterpriseam tag-tourism wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p>A team of archaeologists unearthed a rare statue of King Ramses II yesterday in Giza\u2019s Mit Rahina, <a href=\"https:\/\/www.facebook.com\/moantiquities\/posts\/2707824939263139\">according to an Antiquities Ministry statement<\/a>. The team discovered the upper part of the statue, made of rare pink granite, with the Ka symbol (Egyptian soul form). This marks the second over Ka statue to be found, and the first granite Ka statue discovery.<\/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\/archaeology\/\">archaeology<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/tourism\/\">tourism<\/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=\"591677\" 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=\"591677\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">10<\/div>\r\n\r\n                    <p class=\"f-graphik\">Automotive + Transportation<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2019\/12\/12\/el-nasr-preparing-feasibility-study-for-dongfeng-ev-manufacturing-project\/\">\r\n                            El Nasr preparing feasibility study for Dongfeng EV manufacturing project                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2019\/12\/12\/el-nasr-preparing-feasibility-study-for-dongfeng-ev-manufacturing-project\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); navigator.clipboard.writeText('https:\/\/enterpriseam.com\/egypt\/2019\/12\/12\/el-nasr-preparing-feasibility-study-for-dongfeng-ev-manufacturing-project\/')\">\n                    Copy Link                <\/a>\n\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https:\/\/enterpriseam.com\/egypt\/2019\/12\/12\/el-nasr-preparing-feasibility-study-for-dongfeng-ev-manufacturing-project\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=El Nasr preparing feasibility study for Dongfeng EV manufacturing project&url=https:\/\/enterpriseam.com\/egypt\/2019\/12\/12\/el-nasr-preparing-feasibility-study-for-dongfeng-ev-manufacturing-project\/\">\n                    X                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/twitter-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/shareArticle?mini=true&url=https:\/\/enterpriseam.com\/egypt\/2019\/12\/12\/el-nasr-preparing-feasibility-study-for-dongfeng-ev-manufacturing-project\/&title=El Nasr preparing feasibility study for Dongfeng EV manufacturing project\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=El+Nasr+preparing+feasibility+study+for+Dongfeng+EV+manufacturing+project+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2019%2F12%2F12%2Fel-nasr-preparing-feasibility-study-for-dongfeng-ev-manufacturing-project%2F\">\n                    WhatsApp                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/whatsapp-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n        <\/ul>\n    <\/div>\n        <\/div>\r\n                    \r\n                <\/div>\r\n\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2019\/12\/12\/el-nasr-preparing-feasibility-study-for-dongfeng-ev-manufacturing-project\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-591677\" class=\"content-area-description single-story post-591677 post type-post status-publish format-standard hentry category-automotive-transportation tag-automotive tag-automotive-transportation tag-dongfeng tag-enterpriseam tag-evs tag-manufacturing wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p>El Nasr Automotive is preparing a feasibility study to manufacture 25k electric cars in partnership with China's Dongfeng ahead of an agreement expected to be signed in 2Q2020, a government source <a href=\"https:\/\/alborsaanews.com\/2019\/12\/10\/1274139\">told the local press<\/a>. Public Enterprises Minister <a href=\"https:\/\/enterprise.press\/stories\/2019\/12\/05\/egypt-chinas-dongfeng-to-sign-ev-agreement-in-january-7853\/\">said last week<\/a> that the two companies would sign the agreement in January prior to the feasibility study. The Military Production Ministry is talking to companies from India, Russia, and China to manufacture electric cars in Egypt, a ministry adviser <a href=\"https:\/\/alborsaanews.com\/2019\/12\/10\/1274628\">told the local press<\/a> at the Egypt Automotive summit yesterday. The government aims to produce 2k electric cars during the coming four years, he said.<\/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\/automotive\/\">automotive<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/automotive-transportation\/\">Automotive + Transportation<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/dongfeng\/\">Dongfeng<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/evs\/\">EVs<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/manufacturing\/\">Manufacturing<\/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=\"591678\" 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=\"591678\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">11<\/div>\r\n\r\n                    <p class=\"f-graphik\">Sports<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2019\/12\/12\/egyptian-weightlifting-officials-referred-to-prosecution-over-doping-scandal\/\">\r\n                            Egyptian weightlifting officials referred to prosecution over doping scandal                        <\/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\/2019\/12\/12\/egyptian-weightlifting-officials-referred-to-prosecution-over-doping-scandal\/\" 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\/2019\/12\/12\/egyptian-weightlifting-officials-referred-to-prosecution-over-doping-scandal\/')\">\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\/2019\/12\/12\/egyptian-weightlifting-officials-referred-to-prosecution-over-doping-scandal\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=Egyptian weightlifting officials referred to prosecution over doping scandal&url=https:\/\/enterpriseam.com\/egypt\/2019\/12\/12\/egyptian-weightlifting-officials-referred-to-prosecution-over-doping-scandal\/\">\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\/2019\/12\/12\/egyptian-weightlifting-officials-referred-to-prosecution-over-doping-scandal\/&title=Egyptian weightlifting officials referred to prosecution over doping scandal\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=Egyptian+weightlifting+officials+referred+to+prosecution+over+doping+scandal+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2019%2F12%2F12%2Fegyptian-weightlifting-officials-referred-to-prosecution-over-doping-scandal%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\/2019\/12\/12\/egyptian-weightlifting-officials-referred-to-prosecution-over-doping-scandal\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-591678\" class=\"content-area-description single-story post-591678 post type-post status-publish format-standard hentry category-_newspack_sports tag-enterpriseam tag-russia tag-sports tag-sports-minister wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p>The Sports Ministry has referred to prosecution the Egyptian Weightlifting Federation\u2019s board, management, and medical staff over the recent doping scandal that resulted in the national team\u2019s suspension for two years, <a href=\"http:\/\/english.ahram.org.eg\/NewsContent\/6\/56\/357562\/Sports\/Omni-Sports\/Officials-of-Egyptian-Weightlifting-Federation-ref.aspx\">according to Ahram Online<\/a>. Egypt <a href=\"https:\/\/enterprise.press\/stories\/2019\/09\/18\/the-egyptian-weightlifting-federation-banned-from-2019-world-championships\/\">had been banned<\/a> from the 2019 World Championships and Tokyo Olympics 2020 by the Independent Member Federation Sanctions Panel (IMFSP), in response to a 2016 scandal in which seven members of the Egyptian weightlifting team were found to be doping. The Court of Arbitration for Sport, an international quasi-judicial body, <a href=\"https:\/\/enterprise.press\/stories\/2019\/12\/05\/intl-sports-court-endorses-iwf-decision-to-ban-egypts-weightlifters-from-tokyo-7858\/\">has also endorsed the ban<\/a>.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/russia\/\">Russia<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/sports\/\">sports<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/sports-minister\/\">Sports Minister<\/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=\"591679\" 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=\"591679\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">12<\/div>\r\n\r\n                    <p class=\"f-graphik\">My Morning Routine<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2019\/12\/12\/my-morning-routine-ahmed-issa-chief-executive-officer-of-retail-banking-at-cib\/\">\r\n                            My Morning Routine: Ahmed Issa, chief executive officer of retail banking at CIB                        <\/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\/2019\/12\/12\/my-morning-routine-ahmed-issa-chief-executive-officer-of-retail-banking-at-cib\/\" 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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Speaking to us this week is <a href=\"https:\/\/www.linkedin.com\/in\/ahmed-issa-92428b24\/\">Ahmed Issa<\/a>, who leads retail banking at <a href=\"https:\/\/www.cibeg.com\/English\/Pages\/default.aspx\">CIB<\/a>.<\/p>\n<p><strong>My name is Ahmed Issa, and <\/strong><strong>I\u2019m a grateful<\/strong><strong> son, a loving husband, and the proud father of three children, as well as a dedicated Egyptian banker.<\/strong> I live in Cairo with my family, and I\u2019m the chief executive officer for retail banking and a member of the board\u2019s executive committee at CIB, the country\u2019s largest private sector bank and the EGX\u2019s largest listed company.<\/p>\n<p><strong>I\u2019m fortunate enough to regard what I do as a vocation.<\/strong> Bankers go to work to collect the savings of the nation and choose who should areceive them. We also facilitate payment and trade by assuming risk. These are very important goals.<strong> Banks now intermediate about EGP 4 tn of the savings of Egyptians. <\/strong>There might be a quarter of a mn bankers currently working in Egypt, and they go to work every day to collect these savings and deploy them. That\u2019s a great purpose in life, and it fills me with a huge amount of energy and drive.<\/p>\n<p><strong>At CIB, I\u2019m in charge of business activities within consumer and business banking and distribution networks.<\/strong> This means that my team and I are in charge of all the bank\u2019s relationships with consumers and small and medium-sized businesses that have a revenue of less than EGP 200 mn. Our customer base is growing rapidly: We currently serve 1.7 mn and I believe this number will grow to 2 mn in 2020 on the consumer side. On the business banking side, we currently serve some 50,000 business customers, and we hope to double this figure by the end of 2023. I\u2019m also part of the team (with four others) that runs the bank on a day-to-day basis.<\/p>\n<p><strong>I have a couple of other affiliations:<\/strong> I chair the Banking Committee at the <a href=\"https:\/\/www.amcham.org.eg\/\">American Chamber of Commerce<\/a>, and I sit on the boards of the <a href=\"https:\/\/www.egyptair.com\/en\/about-egyptair\/Pages\/egyptair-group.aspx\">EgyptAir holding company<\/a> and the Egypt Trade Development Authority.<\/p>\n<p><strong>My retail banking team is the best, without question.<\/strong> In 2015, when I assumed my current role, we were only serving 700k customers. We\u2019ve managed to increase the number of customers we serve to 1.7 mn, while only growing our branches by 16-17% and our workforce by 15%. So everyone\u2019s productivity has grown quickly in a very short period of time.<\/p>\n<p><strong>Friday mornings are my favorite mornings. <\/strong>I wake early, go to the gym, and prepare breakfast for my family and, often, some close friends. Then the extended family will join us for lunch and we might gather as a group of 20 between 2pm and 5 or 6pm. I really enjoy this time a lot. The day is always busy, but it\u2019s important to break from work and spend quality time with the people in my life. On weekdays and Saturdays, I typically wake at 6am. I check my emails, and read Enterprise, Bloomberg and the FT before usually leaving home within the hour. I commute an hour each way to the office, and like to use this time for reading or making personal calls. I still enjoy reading print newspapers, so usually have Al Ahram and Al Masry Al Youm in the car, and will read a couple of pages from the Qur\u2019an there as well.<\/p>\n<p><strong>There is no such thing as a typical day,<\/strong> but usually my days are filled with meetings and pre-arranged tasks, from 9am to 9pm. On some days, I might have huddle meetings with my team, committee meetings, or a board meeting. On others, I\u2019ll be moderating a panel at AmCham or chairing the banking committee. I try to make Tuesdays an exception, keeping my schedule empty to leave some time for thinking or chances to communicate more personally with my team. The schedule usually ends up being filled at the last minute, but I aim to keep it available for that purpose.<\/p>\n<p><strong>I often visit CIB branches, especially when work is stressful.<\/strong> I find it gives me a lot of energy, and honestly I find the efforts that I see the tellers do on a daily basis very humbling. It also reminds me of how I started my CIB career: As a customer service clerk in our Mohandiseen branch, back in 1993.<\/p>\n<p><strong>I\u2019m a strong believer that time is the most important resource anyone has,<\/strong> and the shape or design of my days regularly changes based on what I believe will generate the best return on my time, and in alignment with my priorities and objectives of the moment.<\/p>\n<p><strong>Recently, I found myself re-reading <\/strong><strong><a href=\"https:\/\/www.amazon.co.uk\/Mystery-Capital-Hernando-Soto\/dp\/0552999237\">The Mystery Of Capital<\/a><\/strong><strong> by Hernando de Soto,<\/strong> which examines why capitalism triumphs in the West and fails everywhere else. The book looks at how nations deploy their savings, which is a topic I\u2019ve always been passionate about. I recommend it very highly, and believe it\u2019s something that all emerging market policymakers should read, especially those that set policies on the ownership of real estate assets and the deployment of savings in their countries.<\/p>\n<p><strong>People often ask me why banks don\u2019t build companies. <\/strong>I believe this reflects a fundamental misunderstanding of the value banks add to our stakeholders. We manage risks in the economy \u2014 so the key skill set of banks and bankers lies in estimating the creditworthiness of a borrower. Bankers typically don\u2019t know how to manage a manufacturing facility or an agri-business, but we know if the company\u2019s manager is capable of managing his or her own business, so as to eventually return the capital of the savings of Egyptian people. These are two different sets of skills.<\/p>\n<p><strong>Without a doubt, the banking industry will be impacted by digitization and the risk of disruption.<\/strong> When blockchain, AI, cloud computing and data analytics collide at a point in the future, banking will be changed irrevocably. And bankers who are not preparing for that day will face huge disruption. They may face the same fate as Kodak and Nokia.<\/p>\n<p><strong>Throughout my career, I\u2019ve been very lucky to have been exposed to great business minds, <\/strong>from whom I\u2019ve learned so much. From Hisham Ezz El Arab, I learned the importance of sharpening the saw and preparing. From Jawaid Mirza, I learned resilience: Failure is never eternal unless you want it to be, and the more resilient or buoyant you can be, the more you can advance. These two lessons are based on principles of humility coupled with strong resolve \u2014 and I believe these values are essential for any successful business and any successful businessperson, to sustain success over a long period of time.<\/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                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/cib\/\">CIB<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/my-morning-routine\/\">MY MORNING ROUTINE<\/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=\"591681\" 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=\"591681\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">13<\/div>\r\n\r\n                    <p class=\"f-graphik\">The Market Yesterday<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2019\/12\/12\/the-market-yesterday-227\/\">\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\/2019\/12\/12\/the-market-yesterday-227\/\" 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\/2019\/12\/12\/the-market-yesterday-227\/')\">\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\/2019\/12\/12\/the-market-yesterday-227\/\">\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\/2019\/12\/12\/the-market-yesterday-227\/\">\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\/2019\/12\/12\/the-market-yesterday-227\/&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%2F2019%2F12%2F12%2Fthe-market-yesterday-227%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\/2019\/12\/12\/the-market-yesterday-227\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-591681\" class=\"content-area-description single-story post-591681 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\n<p><strong>EGP \/ USD CBE market average: <\/strong>Buy 16.08 | Sell 16.20<br \/>\n <strong>EGP \/ USD at CIB:<\/strong> Buy 16.08 | Sell 16.18<br \/>\n <strong>EGP \/ USD at NBE: <\/strong>Buy 16.07 | Sell 16.17<\/p>\n<p><strong>EGX30<\/strong> (Wednesday): 13,427 (-0.6%)<br \/>\n <strong>Turnover:<\/strong> EGP 636 mn (13% below the 90-day average)<br \/>\n <strong>EGX 30 year-to-date<\/strong>: +3.0%<\/p>\n<p><strong>THE MARKET ON WEDNESDAY:<\/strong> The EGX30 ended Wednesday\u2019s session down -0.6%. CIB, the index\u2019s heaviest constituent, ended up 0.1%. EGX30\u2019s top performing constituents were Egyptian Resorts up 2.5%, Ibnsina Pharma up 0.1%, and CIB up 0.1%. Yesterday\u2019s worst performing stocks were Sidi Kerir Petrochemicals down 8.1%, Madinet Nasr Housing down 3.2% and Orascom Development Egypt down 3.2%. The market turnover was EGP 636 mn, and domestic investors were the sole net buyers.<\/p>\n<p><strong>Foreigners<\/strong>: Net Short | EGP -70.9 mn<br \/>\n <strong>Regional<\/strong>: Net Short | EGP -6.4 mn<br \/>\n <strong>Domestic<\/strong>: Net Long | EGP +77.3 mn<\/p>\n<p><strong>Retail<\/strong>: 46.1% of total trades | 42.5% of buyers | 49.8% of sellers<br \/>\n <strong>Institutions<\/strong>: 53.9% of total trades | 57.5% of buyers | 50.2% of sellers<\/p>\n<p><strong>WTI:<\/strong> USD 58.76 (-0.81%)<br \/>\n <strong>Brent:<\/strong> USD 63.97 (-0.58%)<\/p>\n<p><strong>Natural Gas<\/strong> (Nymex, futures prices) USD 2.25 MMBtu (+0.27%, January 2020 contract)<br \/>\n <strong>Gold:<\/strong> USD 1,479.20 \/ troy ounce (+0.28%)<\/p>\n<p><strong>TASI:<\/strong> 8,133.72 (+0.83%) (YTD: +3.92%)<br \/>\n <strong>ADX:<\/strong> 5,040.23 (+0.40%) (YTD: +2.55%)<br \/>\n <strong>DFM:<\/strong> 2,713.57 (+0.97%) (YTD: +7.27%)<br \/>\n <strong>KSE Premier Market:<\/strong> 6,749.89 (+0.02%)<br \/>\n <strong>QE:<\/strong> 10,339.36 (+0.22%) (YTD: +0.39%)<br \/>\n <strong>MSM:<\/strong> 4,014.04 (-0.9%) (YTD: -7.16%)<br \/>\n <strong>BB: <\/strong>1,555.16 (+0.35%) (YTD: +16.29%)<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/the-market-yesterday\/\">The Market Yesterday<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"591682\" 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\/2019\/12\/12\/591682\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-591682\" class=\"content-area-description single-story post-591682 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>December: Belarus Industry Minister Pavel Utiupin <a href=\"https:\/\/www.shorouknews.com\/news\/view.aspx?cdate=19112019&id=2b9e9b1c-45ad-4af5-82a9-f8650319c562\">will visit Egypt<\/a> to discuss means of cooperation in the SCZone and plan for the seventh Egypt-Belarus Trade Meeting.<\/p>\n<p>December: <a href=\"https:\/\/almalnews.com\/%d9%82%d8%b7%d8%a7%d8%b9-%d8%a7%d9%84%d8%a3%d8%b9%d9%85%d8%a7%d9%84-%d9%88%d9%81%d8%af-%d8%b5%d9%8a%d9%86%d9%89-%d9%8a%d8%b2%d9%88%d8%b1-%d9%85%d8%b5%d8%b1-%d8%a7%d9%84%d8%b4%d9%87%d8%b1\/\">A Chinese automotive company delegation will visit Egypt<\/a> to sign an agreement with El Nasr Automotive Manufacturing Company.<\/p>\n<p>December: <a href=\"https:\/\/almalnews.com\/%d9%88%d9%81%d8%af-%d9%87%d9%86%d8%af%d9%8a-%d9%8a%d8%a8%d8%ad%d8%ab-%d8%a7%d9%84%d8%aa%d8%b9%d8%a7%d9%88%d9%86-%d8%a7%d9%84%d8%aa%d8%ac%d8%a7%d8%b1%d9%8a-%d9%88%d8%a7%d9%84%d8%a7%d8%b3%d8%aa%d8%ab\/\">Indian automotive delegation to visit Egypt<\/a>.<\/p>\n<p>2-13 December (Monday- Friday) The COP25 Climate Change Conference, Madrid<\/p>\n<p>11-12 December (Wednesday-Thursday): \u201c<a href=\"http:\/\/www.cabinet.gov.eg\/Arabic\/MediaCenter\/CabinetNews\/Pages\/%D8%A7%D8%AC%D8%AA%D9%85%D8%A7%D8%B9-%D9%85%D8%AC%D9%84%D8%B3-%D8%A7%D9%84%D9%88%D8%B2%D8%B1%D8%A7%D8%A1-%D8%B1%D9%82%D9%85--66--%D8%A8%D8%B1%D8%A6%D8%A7%D8%B3%D8%A9-%D8%A7%D9%84%D8%AF%D9%83%D8%AA%D9%88%D8%B1-%D9%85%D8%B5%D8%B7%D9%81%D9%89-%D9%85%D8%AF%D8%A8%D9%88%D9%84%D9%8A-.aspx\">Forum on peace and sustainability in Africa<\/a>,\u201d Aswan.<\/p>\n<p>12-14 December (Thursday-Saturday): 16 Egyptian real estate development companies will showcase their products at IPS Riyadh, Riyadh, Saudi Arabia.<\/p>\n<p>12-14 December (Thursday-Saturday): <a href=\"http:\/\/aeedccairo.com\/\">AEEDC Education Cairo<\/a> dentistry conference and exhibition, Royal Maxim Palace Kempinski Cairo.<\/p>\n<p>14-17 December (Saturday-Tuesday): <a href=\"https:\/\/wyfegypt.com\/\">World Youth Forum<\/a> 2019, Sharm El Sheikh.<\/p>\n<p>17-21 December (Tuesday-Saturday): <a href=\"https:\/\/www.automech-formula.com\/en\/home.html\">2019 Automech Formula car expo<\/a>, Egypt International Exhibition Center, Cairo.<\/p>\n<p>21-22 December (Saturday-Sunday): The irrigation ministers of Egypt, Sudan, and Ethiopia <a href=\"https:\/\/www.facebook.com\/mwrifb\/posts\/3295522253855619\">will hold<\/a> the third round of Grand Ethiopian Renaissance Dam negotiations in Khartoum, Sudan.<\/p>\n<p>26 December (Thursday): Central Bank of Egypt\u2019s monetary policy committee will meet to review interest rates.<\/p>\n<p>January 2020: 2019 Confederation of African Football (CAF) Awards, Albatros Citadel Resort, <a href=\"https:\/\/alborsaanews.com\/2019\/07\/18\/1226515\">Hurghada, Egypt<\/a>.<\/p>\n<p>January 2020: <a href=\"https:\/\/punchng.com\/uk-africa-investment-summit-holds-in-jan-2020-foreign-secretary\/\">UK-Africa Investment summit<\/a>, London, United Kingdom.<\/p>\n<p>5 January (Sunday): Postponed lawsuit hearing against Peugeot Automobile filed by Cairo for Development and Cars Manufacturing.<\/p>\n<p>9-12 January 2020 (Tuesday-Sunday): <a href=\"http:\/\/www.plastex-online.com\/\">PLASTEX<\/a>, Egypt International Exhibition Center, Nasr City, Cairo.<\/p>\n<p>13 January 2020 (Monday): The irrigation ministers of Egypt, Sudan, and Ethiopia <a href=\"https:\/\/www.facebook.com\/mwrifb\/posts\/3295522253855619\">will hold<\/a> the fourth and final round of Grand Ethiopian Renaissance Dam negotiations in Washington, DC.<\/p>\n<p>25 January 2020 (Saturday): 25 January revolution anniversary \/ Police Day, national holiday.<\/p>\n<p>25 January 2020 (Saturday): Midterm break for public schools and universities. Also known as: Two weeks of good commute.<\/p>\n<p>February 2020: An Italian business delegation <a href=\"https:\/\/almalnews.com\/%d9%88%d9%81%d8%af-%d8%a5%d9%8a%d8%b7%d8%a7%d9%84%d9%8a-%d9%8a%d8%b2%d9%88%d8%b1-%d9%85%d8%b5%d8%b1-%d9%81%d8%a8%d8%b1%d8%a7%d9%8a%d8%b1-%d8%a7%d9%84%d9%85%d9%82%d8%a8%d9%84-%d9%84%d9%84%d8%aa%d8%b9\/\">will visit Egypt<\/a> to discuss investments in the Port Said industrial zone.<\/p>\n<p>February 2020: A delegation of Swiss businesses <a href=\"http:\/\/www.miic.gov.eg\/Arabic\/MediaCenter\/News\/Pages\/%D9%85%D8%B5%D8%B1-%D9%88%D8%B3%D9%88%D9%8A%D8%B3%D8%B1%D8%A7-%D8%AA%D8%AA%D9%81%D9%82%D8%A7%D9%86-%D8%B9%D9%84%D9%89-%D8%A7%D8%B3%D8%AA%D8%B1%D8%A7%D8%AA%D9%8A%D8%AC%D9%8A%D8%A9-%D8%A7%D9%84%D8%AA%D8%B9%D8%A7%D9%88%D9%86-%D8%A7%D9%84%D8%AC%D8%AF%D9%8A%D8%AF%D8%A9-%D8%AD%D8%AA%D9%89-2024.aspx\">will visit Egypt<\/a> to discuss investment.<\/p>\n<p>February 2020: Higher Education Minister Khaled Abdel-Ghaffar <a href=\"https:\/\/www.shorouknews.com\/news\/view.aspx?cdate=19112019&id=2b9e9b1c-45ad-4af5-82a9-f8650319c562\">will visit<\/a> Minsk, Belarus.<\/p>\n<p>1 February 2020 (Saturday): The administrative court <a href=\"https:\/\/almalnews.com\/%d8%a7%d9%84%d9%82%d8%b6%d8%a7%d8%a1-%d8%a7%d9%84%d8%a5%d8%af%d8%a7%d8%b1%d9%89-%d9%8a%d8%a4%d8%ac%d9%84-%d9%82%d8%b6%d9%8a%d8%a9-%d8%a3%d8%af%d9%8a%d8%a8%d9%8a%d8%aa%d9%88-%d8%a3%d9%85%d8%b1\/\">will look into<\/a> an appeal by Adeptio AD Investments against a Financial Regulatory Authority to submit a mandatory tender offer (MTO) for Americana Egypt.<\/p>\n<p>8 February 2020 (Saturday): Midterm break ends. Traffic in Cairo stinks once more.<\/p>\n<p>11-13 February 2020 (Tuesday-Thursday): <a href=\"https:\/\/www.egyps.com\/\">Egypt Petroleum Show<\/a>, Egypt International Exhibition Center, Nasr City, Cairo.<\/p>\n<p>March 2020: <a href=\"http:\/\/www.menafatf.org\/about\">The Middle East and North Africa Financial Action Task Force<\/a> (MENAFATF) <a href=\"https:\/\/almalnews.com\/%d9%85%d8%ac%d9%85%d9%88%d8%b9%d8%a9-%d8%a7%d9%84%d8%b9%d9%85%d9%84-%d8%a7%d9%84%d9%85%d8%a7%d9%84%d9%8a-%d8%aa%d8%b2%d9%88%d8%b1-%d9%85%d8%b5%d8%b1-%d9%85%d8%a7%d8%b1%d8%b3-%d8%a7%d9%84%d9%85%d9%82\/\">will visit<\/a> Egypt to assess the progress of actions taken to combat money laundering and terrorist sponsoring activities.<\/p>\n<p>1 March 2020: <a href=\"https:\/\/www.youm7.com\/story\/2019\/11\/28\/%D8%B1%D8%A6%D9%8A%D8%B3-%D8%BA%D8%B1%D9%81%D8%A9-%D8%A7%D9%84%D8%A5%D8%B3%D9%83%D9%86%D8%AF%D8%B1%D9%8A%D8%A9-%D8%A7%D9%84%D8%AA%D8%AC%D8%A7%D8%B1%D9%8A%D8%A9-%D9%85%D8%B5%D8%B1-%D8%AA%D8%B3%D8%AA%D8%B6%D9%8A%D9%81-%D9%85%D8%A4%D8%AA%D9%85%D8%B1%D8%A7-%D8%AF%D9%88%D9%84%D9%8A%D8%A7-%D8%B9%D9%86-%D8%A7%D9%84%D9%84%D9%88%D8%AC%D8%B3%D8%AA%D9%8A%D8%A7%D8%AA\/4516709\">A conference<\/a> on \u201clogistics and its impact on the movement of goods and industry,\u201d venue TBD, Alexandria.<\/p>\n<p>4-5 March 2020 (Wednesday-Thursday): <a href=\"http:\/\/enterprise.press\/wp-content\/uploads\/2019\/10\/Press-Release-26th-Annual-Women-Economic-Forum-March-2020-Cairo-Egypt.pdf\">Women Economic Forum<\/a>, Cairo.<\/p>\n<p>25-26 March 2020 (Wednesday-Thursday): <a href=\"http:\/\/www.megaprojectsconf.com\/\">Mega Projects Conference<\/a>, Egypt International Exhibition Center, Nasr City, Cairo.<\/p>\n<p>23 April 2020 (Thursday): First day of Ramadan (TBC).<\/p>\n<p>23-26 May 2020 (Saturday-Tuesday): Eid El Fitr (TBC).<\/p>\n<p>5-7 May 2020 (Tuesday-Thursday): <a href=\"https:\/\/www.afsic.net\/\">AFSIC - Investing in Africa<\/a>, London, United Kingdom.<\/p>\n<p>30 June 2020 (Sunday): June 2013 protests anniversary, national holiday.<\/p>\n<p>November 2020: 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>30 July 2020-3 August 2020 (Thursday-Monday): Eid El Adha (TBC), national holiday.<\/p>\n<p>19-20 August 2020 (Wednesday-Thursday): Islamic New Year (TBC), national holiday.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n","protected":false},"excerpt":{"rendered":"","protected":false},"featured_media":591652,"menu_order":0,"template":"","categories":[],"tags":[],"class_list":["post-591651","issue","type-issue","status-publish","has-post-thumbnail","hentry","wpautop","entry"],"acf":{"mongo_id":"837a9e7e-0b50-43ce-a83f-9e539c91816f","teaser":"","photo_url":"https:\/\/ent.news\/2019\/6\/moneymoneymoney-1600px.jpg"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - 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