{"id":593607,"date":"2019-10-03T04:04:00","date_gmt":"2019-10-03T04:04:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/?post_type=issue&#038;p=593607"},"modified":"2025-12-16T17:42:29","modified_gmt":"2025-12-16T17:42:29","slug":"the-banking-act-everything-you-need-to-know","status":"publish","type":"issue","link":"https:\/\/enterpriseam.com\/egypt\/issues\/the-banking-act-everything-you-need-to-know\/","title":{"rendered":"The Banking Act: Everything you need to know"},"content":{"rendered":"<section id=\"593609\" 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=\"593609\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">1<\/div>\r\n\r\n                    <p class=\"f-graphik\">What We're Tracking Today<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2019\/10\/03\/what-were-tracking-on-3-october-2019\/\">\r\n                            What we\u2019re tracking on 3 October 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\/10\/03\/what-were-tracking-on-3-october-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(); 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The stock exchange will be closed, and the Manpower Ministry declared it will be a paid vacation day for both civil servants and private sector employees. Enterprise will be off and return to your inboxes at the usual time on Monday morning.<\/p><p><b>Banking Act inches closer to life: <\/b>The Central Bank of Egypt will hold a press conference today to discuss a final draft of the Banking and Central Bank Act, which was approved by Cabinet yesterday, <a href=\"https:\/\/cms.shorouknews.com\/news\/view.aspx?cdate=02102019&amp;id=abd405b4-249f-41f4-9bc2-f8a7292dbe49\">Al Shorouk reports<\/a>. The act, which is yet to be reviewed by the Council of State before going to parliament, would expand the CBE\u2019s oversight of the banking sector. We have the rundown in this morning\u2019s Speed Round, below.<\/p><p><b>It\u2019s PMI day:<\/b> The purchasing managers\u2019 index for Egypt, the UAE, and Saudi Arabia will be released shortly after we hit \u201csend\u201d on this morning\u2019s issue. You can <a href=\"https:\/\/www.markiteconomics.com\/Public\/Release\/PressReleases?language=en\">find the press release here<\/a> when it arrives at around 6:15 am CLT.<\/p><p><b>Monthly inflation figures for September<\/b> are due at the end of next week. Inflation cooled for the second consecutive month in <a href=\"https:\/\/enterprise.press\/stories\/2019\/09\/11\/egypts-headline-inflation-falls-to-six-and-a-half-year-lows-in-august\/\">August to 7.5%<\/a>, marking the lowest reading in six-and-a-half years.<\/p><p><b>Among the conferences taking place in the coming days:<\/b><\/p><ul>\n<li>The annual <a href=\"https:\/\/ifta2019cairo.com\/\"><b>International Federation of Technical Analysts (IFTA) conference<\/b><\/a> takes place in Cairo on Saturday and Sunday.<\/li>\n<li><b>A Russian delegation will be in Cairo<\/b> on 7-10 October for a joint forum to discuss cooperation in various fields, including trade, <a href=\"https:\/\/cms.shorouknews.com\/news\/view.aspx?cdate=01102019&amp;id=8305768a-d246-40ff-859b-cc7bcd0bfce5\">Al Shorouk reports<\/a>. <\/li>\n<\/ul><p><b>Further ahead: Go talk tech and investment on the Red Sea. <\/b>The <a href=\"https:\/\/vestedsummit.com\/\">Vested Summit<\/a> kicks off on 9 November at the Egyptian Resorts Company\u2019s flagship destination, Sahl Hasheesh. The three-day event will bring together 1,500 participants from 25 countries to talk investment, technology, and generating impact with \u201cconscious tech,\u201d according to <a href=\"https:\/\/ent.news\/2019\/10\/88.pdf\">a press release (pdf)<\/a>. The summit\u2019s main guest speaker will be Jason Silva, host of National Geographic\u2019s Brain Games TV series.<\/p><p class=\"web-image\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2019\/10\/1019.jpg?ssl=1\"><\/p><p><b>US brokerage firms rocked as Charles Schwab ends commission on online trading:<\/b> Share prices of US brokerage firms crashed on Tuesday after Charles Schwab announced it will scrap commissions on online trades of stocks, exchange-traded funds and options from 7 October, <a href=\"https:\/\/www.wsj.com\/articles\/charles-schwab-ending-online-trading-commissions-on-u-s-listed-products-11569935983\">the Wall Street Journal reports<\/a>. Schwab \u2014 the largest publicly-traded online broker in the US \u2014 saw its shares fall 9.4% on the news. Rival companies TD Ameritrade plummeted 25.8%, and E-Trade lost 16.4%. <b>Brokerage firms are struggling to compete against a new crop of companies offering zero-fee online trading<\/b>, which has triggered what investors fear will be a race-to-the-bottom price war that would wipe out a significant chunk of revenues.<\/p><hr class=\"grey-line\"><p><b>JPMorgan banking on Middle East bond market growth: <\/b>Bond sales in MENA countries have so far grown 11% y-o-y and could beat the record USD 101 bn reached in 2017. The surge is reason for optimism for the region\u2019s investment bankers, who are also about to witness the world\u2019s largest-ever share sale when Saudi Aramco hits the market, JPMorgan Chase global corporate banking head Sjoerd Leenart <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2019-10-02\/jpmorgan-sees-middle-east-deal-flow-making-up-for-lower-fees?srnd=premium-middle-east\">tells Bloomberg<\/a>. <b>The latest bond push:<\/b> Saudi Arabia could be selling USD-denominated sukuk \u201cas early as next month,\u201d anonymous sources in the know <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2019-09-29\/saudi-arabia-is-said-to-plan-dollar-sukuk-as-soon-as-october?srnd=premium-middle-east\">told the information news service<\/a>.<\/p><p class=\"web-image\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2019\/10\/120.jpg?ssl=1\"><\/p><p>A few things going on around the world:<\/p><ul>\n<li><b>The foreign press is marking the anniversary of Jamal Khashoggi's death<\/b>, with the <a href=\"https:\/\/www.washingtonpost.com\/graphics\/2019\/opinions\/global-opinions\/jamal-khashoggi-one-year-later\/\">Washington Post<\/a>, <a href=\"https:\/\/www.ft.com\/content\/f877fe86-e4f3-11e9-9743-db5a370481bc\">Financial Times<\/a> and <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2019-10-02\/one-year-on-stain-of-khashoggi-murder-lingers-in-saudi-arabia?srnd=premium-middle-east\">Bloomberg<\/a> all among those giving it ink. <\/li>\n<li><b>Mark Zuckerberg isn\u2019t having the best of weeks<\/b>, <a href=\"https:\/\/www.theverge.com\/2019\/10\/1\/20892354\/mark-zuckerberg-full-transcript-leaked-facebook-meetings\">threatening legal action<\/a> if a future president wants to break up his company \u2014 and <a href=\"https:\/\/www.ft.com\/content\/93e532ee-e3a5-11e9-b112-9624ec9edc59\">facing cold feet<\/a> from the financial partners including Mastercard and Visa he had enlisted to help build his cryptocurrency.<\/li>\n<\/ul>\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\/aramco\/\">Aramco<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/climate-change\/\">climate change<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/debt\/\">debt<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/equities\/\">equities<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" 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alt=\"\">\r\n                    <\/a>\r\n                    <span>Driving growth<\/span>\r\n                <\/div>\r\n            <\/div>\r\n            <\/div><\/div><\/div>\r\n        <\/div><div class=\"stk-block-carousel__buttons\"><button class=\"stk-block-carousel__button stk-block-carousel__button__prev\" aria-label=\"Previous slide\"><svg aria-hidden=\"true\" focusable=\"false\" data-prefix=\"fas\" data-icon=\"chevron-left\" class=\"svg-inline--fa fa-chevron-left\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewBox=\"0 0 320 512\" width=\"32\" height=\"32\"><path d=\"M34.52 239.03L228.87 44.69c9.37-9.37 24.57-9.37 33.94 0l22.67 22.67c9.36 9.36 9.37 24.52.04 33.9L131.49 256l154.02 154.75c9.34 9.38 9.32 24.54-.04 33.9l-22.67 22.67c-9.37 9.37-24.57 9.37-33.94 0L34.52 272.97c-9.37-9.37-9.37-24.57 0-33.94z\"><\/path><\/svg><\/button><button class=\"stk-block-carousel__button stk-block-carousel__button__next\" aria-label=\"Next slide\"><svg aria-hidden=\"true\" focusable=\"false\" 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   \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">2<\/div>\r\n\r\n                    <p class=\"f-graphik\">Enterprise+: Last Night\u2019s Talk Shows<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2019\/10\/03\/el-sisi-shows-love-to-smes-fayoum-workshop-kicks-off\/\">\r\n                            El Sisi shows love to SMEs, Fayoum workshop kicks off                        <\/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 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<\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-593611\" class=\"content-area-description single-story post-593611 post type-post status-publish format-standard hentry category-enterprise-last-nights-talk-shows tag-education tag-enterprise-last-nights-talk-shows tag-enterpriseam tag-smes tag-tourism wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p>To say that last night was quiet on the airwaves would be the understatement of the year:<\/p>\n<p><b>El Sisi shows love to SMEs:<\/b> President Abdel Fattah El Sisi inaugurated a handicraft exhibition yesterday as part of a national strategy to support SMEs, Al Hayah Al Youm\u2019s Khaled highlighted (<a href=\"https:\/\/www.youtube.com\/watch?v=m_x8-gMxjNo&pbjreload=10\">watch, runtime: 09:39<\/a>).<\/p>\n<p><b>Environment Ministry goes to Fayoum to promote tourism: <\/b>The Environment Ministry has organized a Fayoum workshop in coordination with the United Nations Development Program (UNDP) and the Egyptian Italian Environmental Cooperation Program (EIECP) to support tourism in the governorate (<a href=\"https:\/\/www.youtube.com\/watch?v=-ykzngC1czs\">watch, runtime: 03:01<\/a>).<\/p>\n<p><b>The government is working on ensuring graduates are qualified for modern-day jobs<\/b> in Egypt and abroad, Higher Education and Scientific Research Minister Khaled Abdel Ghaffar told Masaa DMC\u2019s Ramy Radwan in an interview (<a href=\"https:\/\/www.youtube.com\/watch?v=lNApl7f4ol0\">watch, runtime: 05:35<\/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\/education\/\">Education<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/enterprise-last-nights-talk-shows\/\">Enterprise+: Last Night\u2019s Talk Shows<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/smes\/\">SMEs<\/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=\"593612\" 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=\"593612\">\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\/10\/03\/egypts-cabinet-approves-new-banking-and-central-bank-act\/\">\r\n                            Egypt\u2019s cabinet approves new Banking and Central Bank Act                        <\/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 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              <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2018\/11\/1115.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"593613\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2019\/10\/03\/egypts-cabinet-approves-new-banking-and-central-bank-act\/1115-jpg-9\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2018\/11\/1115.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1115.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2018\/11\/1115.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2018\/11\/1115.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-593612\" class=\"content-area-description single-story post-593612 post type-post status-publish format-standard has-post-thumbnail hentry category-speed-round tag-banking tag-banking-and-central-bank-act tag-enterpriseam tag-finance tag-legislation tag-speed-round wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><a class=\"content-anchor\" id=\"tldr-story-01\"><\/a> <b>LEGISLATION WATCH- Cabinet greenlights Banking Act: <\/b>The Madbouly Cabinet has approved in its weekly meeting a 242-article final draft of the Banking and Central Bank Act that would grant the Central Bank of Egypt (CBE) increased oversight of the banking sector, <a href=\"http:\/\/www.cabinet.gov.eg\/Arabic\/MediaCenter\/CabinetNews\/Pages\/the-Council-of-Ministers%27-Meeting-No.-59.aspx\">according to a cabinet statement<\/a>. The draft will now head to the Council of State before being introduced to the House of Representatives. As we <a href=\"https:\/\/enterprise.press\/stories\/2019\/09\/30\/spotlight-on-the-fifth-legislative-session-of-the-house\/\">noted in our legislative preview on Monday<\/a>, the Banking Act is among the key bills expected to keep the House busy this fall. CBE Governor Tarek Amer, who was present during the cabinet meeting yesterday, handed over the act <a href=\"https:\/\/enterprise.press\/stories\/2019\/05\/15\/cbe-boss-presents-draft-banking-act-to-cabinet\/\">last May<\/a>.<\/p>\n<p><b>The CBE will hold a presser today to discuss the act<\/b>, the final draft of which was seen by Enterprise.<\/p>\n<p><b>No \u2018industry development\u2019 tax: <\/b>The industry development tax, unpopular with investors and the banking community, has been set aside in favour of an industry-wide 1% tithe on profits to finance a bailout fund that would insure banks against bankruptcy. The act also lays out procedures for how banks would file for bankruptcy protection.<\/p>\n<p><b>No term limits for MDs? <\/b>The imposition of term limits for bank managing directors that had previously been controversial with the banking community and bank shareholders did not appear to be included in the draft we reviewed.<\/p>\n<p><b>The law, if passed in the form we saw, would also:<\/b><\/p>\n<ul>\n<li>Introduce measures for <b>licensing e-payment and fintech businesses<\/b> and explicitly authorize the CBE to <b>regulate cryptocurrencies<\/b>;<\/li>\n<li><b>Update licensing and ownership regulations<\/b>, with the inclusion of a stipulation that no one individual or a related group could hold more than 10% of a bank\u2019s equity without prior approval of the central bank;<\/li>\n<li>Hike, <a href=\"https:\/\/enterprise.press\/stories\/2019\/05\/22\/commercial-banks-could-see-capital-requirements-rise-tenfold-under-banking-act-amendments\/\">as expected<\/a>, the <b>minimum capital requirement<\/b> 10x to EGP 5 bn and 3x for foreign banks to USD 150 mn;<\/li>\n<li><b>Establish a \u201cfinancial stability\u201d committee<\/b> to prepare for and avert financial crises. The prime minister, the CBE governor, the finance minister and the chair of the Financial Regulatory Authority would all sit on the committee;<\/li>\n<li><b>Set up an industry association <\/b>for the sector. (It is unclear whether this is in reference to the Federation of Egyptian Banks or a new entity.)<\/li>\n<\/ul>\n<ul>\n<li><b>Introduce measures to ensure data protection and customer privacy<\/b>, including requiring banks to obtain written consent for indirect or direct data dissemination;<\/li>\n<li><b>Require all banks\u2019 fiscal years to begin in January<\/b> (many state-owned institutions end their FY on 30 June, as does the government);<\/li>\n<li><b>Require banks to publish quarterly financials<\/b> in at least one daily newspaper and on their websites;<\/li>\n<li><b>Give banks 1-3 years to comply <\/b>with the new provisions of the law;<\/li>\n<\/ul>\n<p><b>ALSO YESTERDAY- <\/b>Cabinet signed off on a new unified tax payment system that will see MPs debating a bill to create a single tax filing system for income tax, stamp tax and VAT. The bill was first reviewed by cabinet <a href=\"https:\/\/enterprise.press\/stories\/2019\/07\/01\/cabinet-greenlights-proposed-legislation-on-new-unified-tax-payment-system\/\">in July<\/a>. Ministers also signed off on <b>an amendment to the <\/b><a href=\"https:\/\/enterprise.press\/stories\/2018\/06\/10\/house-splits-media-acts-second-part-into-three-separate-bills-general-assembly-vote-expected-today\/\"><b>Press and Media Act<\/b><\/a>allowing media outlets to contribute to public-interest campaigns.<\/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\/banking-and-central-bank-act\/\">Banking and Central Bank Act<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/finance\/\">Finance<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/legislation\/\">legislation<\/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=\"593626\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"593627\" 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=\"593627\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">4<\/div>\r\n\r\n                    <p class=\"f-graphik\">EGYPT IN THE NEWS<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2019\/10\/03\/egypt-in-the-news-on-3-october-2019-protests-gerd-fgm\/\">\r\n                            Egypt in the News on 3 October 2019: Protests, GERD, FGM                        <\/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\/10\/03\/egypt-in-the-news-on-3-october-2019-protests-gerd-fgm\/\" 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\/10\/03\/egypt-in-the-news-on-3-october-2019-protests-gerd-fgm\/')\">\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\/10\/03\/egypt-in-the-news-on-3-october-2019-protests-gerd-fgm\/\">\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 3 October 2019: Protests, GERD, FGM&url=https:\/\/enterpriseam.com\/egypt\/2019\/10\/03\/egypt-in-the-news-on-3-october-2019-protests-gerd-fgm\/\">\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\/10\/03\/egypt-in-the-news-on-3-october-2019-protests-gerd-fgm\/&title=Egypt in the News on 3 October 2019: Protests, GERD, FGM\">\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+3+October+2019%3A+Protests%2C+GERD%2C+FGM+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2019%2F10%2F03%2Fegypt-in-the-news-on-3-october-2019-protests-gerd-fgm%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\/10\/03\/egypt-in-the-news-on-3-october-2019-protests-gerd-fgm\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-593627\" class=\"content-area-description single-story post-593627 post type-post status-publish format-standard hentry category-egypt-in-the-news tag-egypt-in-the-news tag-enterpriseam tag-nile-basin wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><b>Analysis of what prompted Egypt\u2019s recent demonstrations is still dominating coverage in the foreign press<\/b>,with Andrew England arguing in the <a href=\"https:\/\/www.ft.com\/content\/e1448ada-e39b-11e9-b112-9624ec9edc59\">Financial Times<\/a> that the Ikhwan are too weak and fragmented as a movement to have any influence on Egyptian politics. Meanwhile, the protests were followed by hints of political reform and the prospect of reinstated food subsidies, <a href=\"https:\/\/www.trtworld.com\/middle-east\/is-egypt-s-sisi-on-the-retreat-30294\">Turkish outlet TRT World<\/a> says. <a href=\"https:\/\/www.thetimes.co.uk\/article\/president-sisi-softening-grip-on-egypt-kq2cxmg9h\">The Times<\/a>, meanwhile took note of <a href=\"https:\/\/enterprise.press\/stories\/2019\/10\/01\/egypt-in-the-news-on-1-october-2019\/\">concessionary language from the president<\/a> and yesterday\u2019s decision to <a href=\"https:\/\/enterprise.press\/stories\/2019\/10\/02\/egypt-restores-1-8-mn-people-to-food-subsidies-program\/\">return 1.8 mn people to the subsidy rolls<\/a>. And all of this is taking place within a wider regional context, argues Robert Malley in <a href=\"https:\/\/www.foreignaffairs.com\/articles\/middle-east\/2019-10-02\/unwanted-wars\">Foreign Affairs<\/a>, who says the divide between the countries that support and oppose Islamism is the conflict most likely to define the region\u2019s future. <a href=\"https:\/\/www.amnesty.org\/en\/latest\/news\/2019\/10\/egypt-largest-wave-of-mass-arrests-since-president-abdel-fattah-al-sisi-came-to-power\/\">Amnesty<\/a>, meanwhile, says more than 2.3k people have been detained since protests on 20 September; the <a href=\"https:\/\/www.apnews.com\/e50cbb5386b34e518d57868508452eaf\">Associated Press<\/a> also has coverage.<\/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\/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\/nile-basin\/\">Nile Basin<\/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=\"593628\" 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=\"593628\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">5<\/div>\r\n\r\n                    <p class=\"f-graphik\">Diplomacy + Foreign Trade<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2019\/10\/03\/uk-to-boost-investment-in-egypts-human-capital-healthcare-education-sectors\/\">\r\n                            UK to boost investment in Egypt\u2019s human capital, healthcare, education sectors                        <\/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\/10\/03\/uk-to-boost-investment-in-egypts-human-capital-healthcare-education-sectors\/\" 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\/10\/03\/uk-to-boost-investment-in-egypts-human-capital-healthcare-education-sectors\/')\">\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\/10\/03\/uk-to-boost-investment-in-egypts-human-capital-healthcare-education-sectors\/\">\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=UK to boost investment in Egypt\u2019s human capital, healthcare, education sectors&url=https:\/\/enterpriseam.com\/egypt\/2019\/10\/03\/uk-to-boost-investment-in-egypts-human-capital-healthcare-education-sectors\/\">\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\/10\/03\/uk-to-boost-investment-in-egypts-human-capital-healthcare-education-sectors\/&title=UK to boost investment in Egypt\u2019s human capital, healthcare, education sectors\">\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=UK+to+boost+investment+in+Egypt%E2%80%99s+human+capital%2C+healthcare%2C+education+sectors+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2019%2F10%2F03%2Fuk-to-boost-investment-in-egypts-human-capital-healthcare-education-sectors%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\/10\/03\/uk-to-boost-investment-in-egypts-human-capital-healthcare-education-sectors\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-593628\" class=\"content-area-description single-story post-593628 post type-post status-publish format-standard hentry category-diplomacy-foreign-trade tag-diplomacy tag-diplomacy-foreign-trade tag-enterpriseam tag-healthcare tag-investment-watch tag-uk wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><b>UK companies to boost investment in human capital, healthcare, education, other sectors: <\/b>British companies are planning to increase their investments to develop human capital in Egypt, company reps told Investment Minister Sahar Nasr at an investment forum in Cairo yesterday, according to <a href=\"http:\/\/www.miic.gov.eg\/Arabic\/MediaCenter\/News\/Pages\/%D9%83%D8%A8%D8%B1%D9%8A%D8%A7%D8%AA-%D8%A7%D9%84%D8%B4%D8%B1%D9%83%D8%A7%D8%AA-%D8%A7%D9%84%D8%A8%D8%B1%D9%8A%D8%B7%D8%A7%D9%86%D9%8A%D8%A9-%D8%B6%D8%AE-%D8%A7%D9%84%D9%85%D8%B2%D9%8A%D8%AF-%D9%85%D9%86-%D8%A7%D9%84%D8%A7%D8%B3%D8%AA%D8%AB%D9%85%D8%A7%D8%B1%D8%A7%D8%AA-%D8%A5%D9%84%D9%89-%D9%85%D8%B5%D8%B1-%D8%AE%D9%84%D8%A7%D9%84-%D8%A7%D9%84%D9%81%D8%AA%D8%B1%D8%A9-%D8%A7%D9%84%D9%85%D9%82%D8%A8%D9%84%D8%A9-%D8%AE%D8%A7%D8%B5%D8%A9-%D9%81%D9%89-%D8%A7%D9%84%D8%AA%D8%B9%D9%84%D9%8A%D9%85.aspx\">a ministry statement<\/a>. The companies, including GlaxoSmithKline, HSBC, Vodafone, Shell, and Unilever, said they want to focus on healthcare, education, renewables, and transport.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/diplomacy\/\">DIPLOMACY<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/diplomacy-foreign-trade\/\">Diplomacy + Foreign Trade<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/healthcare\/\">healthcare<\/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\/uk\/\">UK<\/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=\"593629\" 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=\"593629\">\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\">Energy<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2019\/10\/03\/germanys-senvion-pulls-out-of-ras-ghareb-wind-energy-plant-tender\/\">\r\n                            Germany\u2019s Senvion pulls out of Ras Ghareb wind energy plant tender                        <\/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\/10\/03\/germanys-senvion-pulls-out-of-ras-ghareb-wind-energy-plant-tender\/\" 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\/10\/03\/germanys-senvion-pulls-out-of-ras-ghareb-wind-energy-plant-tender\/')\">\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\/10\/03\/germanys-senvion-pulls-out-of-ras-ghareb-wind-energy-plant-tender\/\">\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=Germany\u2019s Senvion pulls out of Ras Ghareb wind energy plant tender&url=https:\/\/enterpriseam.com\/egypt\/2019\/10\/03\/germanys-senvion-pulls-out-of-ras-ghareb-wind-energy-plant-tender\/\">\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\/10\/03\/germanys-senvion-pulls-out-of-ras-ghareb-wind-energy-plant-tender\/&title=Germany\u2019s Senvion pulls out of Ras Ghareb wind energy plant tender\">\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=Germany%E2%80%99s+Senvion+pulls+out+of+Ras+Ghareb+wind+energy+plant+tender+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2019%2F10%2F03%2Fgermanys-senvion-pulls-out-of-ras-ghareb-wind-energy-plant-tender%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\/10\/03\/germanys-senvion-pulls-out-of-ras-ghareb-wind-energy-plant-tender\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-593629\" class=\"content-area-description single-story post-593629 post type-post status-publish format-standard hentry category-energy tag-denmark tag-energy tag-enterpriseam tag-germany tag-new-and-renewable-energy-authority tag-renewable-energy tag-siemens-gamesa tag-vestas-wind-systems wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p>German wind energy company Senvion has retracted its bid in the tender for Lekela\u2019s 250 MW <a href=\"https:\/\/enterprise.press\/stories\/2019\/03\/24\/lekela-announces-shortlist-of-bidders-to-build-ras-ghareb-wind-energy-plant\/\">Ras Ghareb wind energy plant<\/a> because of financial difficulties, unnamed sources from the New and Renewable Energy Authority said, <a href=\"https:\/\/almalnews.com\/%d8%b3%d9%86%d9%81%d9%8a%d9%88%d9%86-%d8%a7%d9%84%d8%a3%d9%84%d9%85%d8%a7%d9%86%d9%8a%d8%a9-%d8%aa%d9%86%d8%b3%d8%ad%d8%a8-%d9%85%d9%86-%d8%a7%d9%84%d9%85%d9%86%d8%a7%d9%81%d8%b3%d8%a9\/\">according to Al Mal<\/a>. This leaves Siemens Gamesa and Denmark\u2019s Vestas in the running for the project. The plant is expected to cost EUR 260 mn and will be funded by Germany's KfW bank, the European Investment Bank, the French Agency for Development, and the EU.<\/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\/denmark\/\">Denmark<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/energy\/\">energy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/germany\/\">Germany<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/new-and-renewable-energy-authority\/\">New and Renewable Energy Authority<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/renewable-energy\/\">renewable energy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/siemens-gamesa\/\">Siemens Gamesa<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/vestas-wind-systems\/\">Vestas Wind Systems<\/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=\"593630\" 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=\"593630\">\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\">Real Estate + Housing<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2019\/10\/03\/gama-construction-awarded-egp-1-5-bn-contract-to-construct-smart-village-extension\/\">\r\n                            Gama Construction awarded EGP 1.5 bn contract to construct Smart Village extension                        <\/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\/10\/03\/gama-construction-awarded-egp-1-5-bn-contract-to-construct-smart-village-extension\/\" 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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Gama will be responsible for carrying out the civil, electromechanical, and finishing works for the project. Construction is set to start this year.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/capital-group-properties\/\">Capital Group Properties<\/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=\"593632\" 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=\"593632\">\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\">Other Business News of Note<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2019\/10\/03\/spains-glovo-plans-to-invest-eur-5-1-mn-in-egypt-next-year\/\">\r\n                            Spain\u2019s Glovo plans to invest EUR 5.1 mn in Egypt next year                        <\/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\/10\/03\/spains-glovo-plans-to-invest-eur-5-1-mn-in-egypt-next-year\/\" 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\/10\/03\/spains-glovo-plans-to-invest-eur-5-1-mn-in-egypt-next-year\/')\">\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\/10\/03\/spains-glovo-plans-to-invest-eur-5-1-mn-in-egypt-next-year\/\">\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=Spain\u2019s Glovo plans to invest EUR 5.1 mn in Egypt next year&url=https:\/\/enterpriseam.com\/egypt\/2019\/10\/03\/spains-glovo-plans-to-invest-eur-5-1-mn-in-egypt-next-year\/\">\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\/10\/03\/spains-glovo-plans-to-invest-eur-5-1-mn-in-egypt-next-year\/&title=Spain\u2019s Glovo plans to invest EUR 5.1 mn in Egypt next year\">\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=Spain%E2%80%99s+Glovo+plans+to+invest+EUR+5.1+mn+in+Egypt+next+year+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2019%2F10%2F03%2Fspains-glovo-plans-to-invest-eur-5-1-mn-in-egypt-next-year%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\/10\/03\/spains-glovo-plans-to-invest-eur-5-1-mn-in-egypt-next-year\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-593632\" class=\"content-area-description single-story post-593632 post type-post status-publish format-standard hentry category-other-business-news-of-note tag-enterpriseam tag-glovo tag-other-business-news-of-note tag-spain tag-startups wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p>Delivery app Glovo plans to invest EUR 5.1 mn in Egypt next year to expand in cities surrounding Cairo and Alexandria and launch marketing campaigns, co-founder Sacha Michaud told reporters at a press conference yesterday, <a href=\"https:\/\/almalnews.com\/%d8%ac%d9%84%d9%88%d9%81%d9%88-%d9%84%d8%ae%d8%af%d9%85%d8%a7%d8%aa-%d8%a7%d9%84%d8%aa%d9%88%d8%b5%d9%8a%d9%84-%d8%a3%d9%88%d9%86%d9%84%d8%a7%d9%8a%d9%86-%d8%aa%d8%b3%d8%aa%d8%ab%d9%85%d8%b1-5-1\/\">according to Al Mal<\/a>. Glovo is also expected to sign contracts with eight hypermarket brands next month. The company had <a href=\"https:\/\/enterprise.press\/stories\/2019\/06\/19\/glovo-returns-to-egypt-resumes-services-in-cairo\/\">suspended operations<\/a> in Egypt for five weeks due to difficulties in funding and studying market demand, Michaud said, adding that the company is not planning to return to Chile or Brazil, two markets it has recently exited. The ECA had <a href=\"https:\/\/enterprise.press\/stories\/2019\/05\/29\/eca-calls-foul-on-delivery-hero-glovo-arrangement-orders-glovo-to-come-back-to-egypt\/\">accused Glovo<\/a> of a deliberate, anti-competitive arrangement when it began directing users to Otlob, the food delivery app owned and operated by Delivery Hero, which owns 16% of Glovo.<\/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\/glovo\/\">Glovo<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/other-business-news-of-note\/\">Other Business News of Note<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/spain\/\">Spain<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/startups\/\">startups<\/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=\"593633\" 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=\"593633\">\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\">My Morning Routine<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2019\/10\/03\/my-morning-routine-ahmed-el-kalla-founder-of-nfx-ventures\/\">\r\n                            My Morning Routine: Ahmed El Kalla, founder of NFX Ventures                        <\/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\/10\/03\/my-morning-routine-ahmed-el-kalla-founder-of-nfx-ventures\/\" 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\/ahmedelkalla\/\">Ahmed El Kalla<\/a>, founder of NFX Ventures, a venture capital fund that invests in tech-enabled platforms that support education beyond the classroom, throughout the world.<\/p>\n<p><b>My name is Ahmed El Kalla, and I am an executive, a venture capitalist, and a disruptor (in the best sense). <\/b>I am deeply focused on creating impact in two core areas: improving affordable access for people in emerging markets to quality education and healthcare. Technology is a very valuable mechanism for doing this, and my role is to help the right tech solutions grow and scale. I am a serial entrepreneur, and have approached this challenge in multiple ways throughout my career.<\/p>\n<p><b>For the last three years, my full-time focus has been on NFX Ventures,<\/b> the venture capital fund I founded to invest in AI and tech-enabled platforms that work on education beyond the classroom. We have close to 15 companies in our portfolio, and so a lot of my time is spent working directly with the CEOs, boards, and senior employees heading up these organizations.<\/p>\n<p><b>Venture capital is the riskiest asset class, so the returns have to match the risk.<\/b> As a VC firm, the returns we can offer are about three or four times what you would get if you put your money in the bank, on a per annum basis. This is essential to absorb the risk factor. Even in the most advanced ecosystems, such as Silicon Valley, only 2-3% of the portfolios of the best money managers will generate these returns, with the rest not really coming to anything. So it\u2019s a very humbling industry to be working in. But the outsized returns we derive wipe out our losses.<\/p>\n<p><b>My morning routine is simple and straightforward.<\/b> I wake up, have a coffee, drive my kids to school, and then usually take an hour to listen to books on <a href=\"https:\/\/www.audible.com\/\">Audible<\/a>. I rarely have time to read physical books, so I really enjoy absorbing more information by listening to something from my long playlist \u2014 either fiction or business, depending on my mood. But I am also an avid reader of Enterprise, which is my go-to publication for Egypt-focused news and opinions.<\/p>\n<p><b>There are three great books I\u2019ve listened to recently.<\/b> The first is <a href=\"https:\/\/www.amazon.com\/Principles-Life-Work-Ray-Dalio\/dp\/1501124021\">Principles, by Ray Dalio<\/a>, founder of hedge fund <a href=\"https:\/\/www.bridgewater.com\/\">Bridgewater Associates<\/a>. It looks at his efforts to make sure that the company\u2019s decision-making was enshrined in principles, so that the drivers of its growth from a very small company to now being the world\u2019s biggest hedge fund would remain in its DNA, moving forward. This resonates well with all companies that want to scale.<\/p>\n<p><b>My second recommendation is <\/b><a href=\"https:\/\/www.amazon.com\/Thinking-Bets-Making-Smarter-Decisions\/dp\/0735216355\"><b>Thinking in Bets, by Annie Duke<\/b><\/a><b>, a world class [card game] player,<\/b> who distills some of the lessons she learned in [the card game], which are very applicable to business. One example of this is resulting. People often equate doing the right thing with getting the right outcomes, but sometimes despite your best efforts, the macro factors around you make it impossible to get the outcome you want. You can see this in practice in the education system: given the high demand for schooling, a school may be heavily subscribed (and therefore deemed successful) without necessarily being good.<\/p>\n<p>[Editor\u2019s note: We\u2019re not being jerks about the \u201ccard game\u201d above, but using its name angers the algorithms that decide whether we get delivered to your inbox or not.]<\/p>\n<p><b>The third book <\/b><b>\u2014 and<\/b><b> my personal favorite <\/b><b>\u2014<\/b><b> is called <\/b><a href=\"https:\/\/www.amazon.com\/s?k=Reboot+-+Jerry+Calona&i=stripbooks-intl-ship&ref=nb_sb_noss\"><b>Reboot and it\u2019s by Jerry Colonna<\/b><\/a><b>.<\/b> It looks at leadership, and particularly the way that workplace toxicity, including the behavior of angry, greedy or abusive bosses, is rooted in their childhood insecurities. He addresses leaders to help them understand how to uncover these issues, understand them and let them go. This touched me personally, because sometimes we aren\u2019t fully aware of the impact we have on other people, and it can ripple through an organization to employees and customers.<\/p>\n<p><b>I like to begin my working day around 8:30am with what I call deep work,<\/b> where I spend two very focused hours finishing the things that really require depth of thought. After that, I might get pulled into meetings and all sorts of things, but my current priorities are on recruiting new talent and building a harmonious group of leaders within the organization, to ensure sustainability. This is when I\u2019m in Cairo, as I travel about half the year for work.<\/p>\n<p><b>People often think education lies within four walls, but there\u2019s a lot of dynamic learning taking place beyond traditional structures<\/b>, and I want to capitalize on this to better meet the needs of parents and students. So, at NFX Ventures, we invest in the most innovative ventures using tech platforms to solve educational problems throughout the world, and then try to cross-pollinate so that in time the solutions will be adapted to different markets.<\/p>\n<p><b>We\u2019ve invested in companies and platforms in China, Turkey, and Saudi Arabia with lessons to bring back home.<\/b> In China, we invested in a company that works with the Chinese government, schools and tech hubs to make AI tools more available to students. China, like most advanced economies, understands the profound impact of AI on the job market and wants to build a cohort of students that engage with those tools from a very early age. It\u2019s a new and niche field, and one that will lead to exciting possibilities. The Turkish company aims to alleviate the pressure on tutors to support the 1.5 mn students sitting the first national placement exam every year. Students that have a problem can take a picture of it with their phones, send it to the company, and within 10 minutes a tutor will help them find a solution, at a fraction of the cost of face-to-face tuition. And in Saudi, we have platforms addressing the issue of demotivation in students by shifting otherwise boring study time to a social setting, with their peers. If they have a problem when studying they can call a teacher through the platform. The approach has been shown to significantly improve their engagement.<\/p>\n<p><b>Egypt is an excellent market facing many of the same needs, so we\u2019re trying to help those companies launch here.<\/b> Egypt\u2019s K12 system currently produces 750k students aiming for university every year, but the number of children entering elementary school is closer to 2.1 mn. So there is currently three times the demand at the bottom of the pyramid as at the top. We simply don\u2019t have enough universities or community colleges to accommodate all 750k students graduating every year, and just imagine what the situation will be in 10 years, if these numbers have tripled with the population boom.<\/p>\n<p><b>So, alternative education<\/b> \u2014 whether it\u2019s homeschooling or tech-enabled platforms that allow children to move at their own pace \u2014 <b>will become a necessity in the coming years.<\/b> Limiting ourselves to education that takes place within four walls education means fighting a losing battle, as the numbers are outpacing us.<\/p>\n<p><b>It will take some time for the market to adjust to this.<\/b> Changing established practice is very hard and it takes years. People often think of \u201cproper schooling\u201d as a way of safeguarding their children\u2019s futures, even if the quality of education is so-so. We need to try to reassure parents that alternative education can still result in good academic achievement and a job down the line. The model has already been proven with the popularity of online courses and MBAs.<\/p>\n<p><b>We also need to remember that innovation can feel uncomfortable<\/b> and this is very basic human nature. When it comes to homeschooling, for instance, a lot of families are not in a position to have their children at home all the time. So sometimes your solution directly collides with basic needs, and you have to be sensitive to this.<\/p>\n<p><b>Ultimately, what we\u2019re trying to do is augment the current school experience.<\/b> The solutions we\u2019re investing in, and the ones that will end up taking root in this market, are supplementing existing approaches. We\u2019re not proposing to get rid of schools or traditional forms of education, and we\u2019re not claiming to offer everything.<\/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\/ai\/\">AI<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/education\/\">Education<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/my-morning-routine\/\">MY MORNING ROUTINE<\/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\/venture-capital\/\">venture capital<\/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=\"593635\" 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=\"593635\">\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\">The Market Yesterday<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2019\/10\/03\/the-market-yesterday-260\/\">\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\/10\/03\/the-market-yesterday-260\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); 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CIB, the index\u2019s heaviest constituent, ended up 0.2%. EGX30\u2019s top performing constituents were Heliopolis Housing up 2.7%, Pioneers Holding up 1.2%, and Credit Agricole up 0.6%. Yesterday\u2019s worst performing stocks were Egyptian Resorts down 3.5%, Elsewedy Electric down 3.4% and Egyptian Iron & Steel down 3.4%. The market turnover was EGP 812 mn, and foreign investors were the sole net sellers.<\/p>\n<p><b>Foreigners<\/b>: Net short | EGP -25.3 mn<\/p>\n<p> <b>Regional<\/b>: Net long | EGP +21.5 mn<\/p>\n<p> <b>Domestic<\/b>: Net long | EGP +3.7 mn<\/p>\n<p><b>Retail<\/b>: 56.2% of total trades | 53.7% of buyers | 58.8% of sellers<\/p>\n<p> <b>Institutions<\/b>: 43.8% of total trades | 46.3% of buyers | 41.2% of sellers<\/p>\n<p><b>WTI:<\/b> USD 52.51 (-0.3%)<\/p>\n<p> <b>Brent:<\/b> USD 57.69 (-2.0%)<\/p>\n<p><b>Natural Gas<\/b> (Nymex, futures prices) USD 2.26 MMBtu, (+0.4%, November 2019 contract)<\/p>\n<p> <b>Gold:<\/b> USD 1,505.50 \/ troy ounce (-0.2%)<\/p>\n<p><b>TASI:<\/b> 7,984 (-0.9%) (YTD: +2.0%)<\/p>\n<p> <b>ADX:<\/b> 5,030 (-0.5%) (YTD: +2.4%)<\/p>\n<p> <b>DFM:<\/b> 2,744 (-1.3%) (YTD: +8.5%)<\/p>\n<p> <b>KSE Premier Market:<\/b> 6,119 (-0.7%)<\/p>\n<p> <b>QE:<\/b> 10,359 (-0.7%) (YTD: +0.6%)<\/p>\n<p> <b>MSM:<\/b> 4,024 (-0.3%) (YTD: -6.9%)<\/p>\n<p> <b>BB: <\/b>1,513 (-0.1%) (YTD: +13.2%)<\/p><\/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=\"593636\" 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\/10\/03\/593636\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-593636\" class=\"content-area-description single-story post-593636 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>October: <a href=\"https:\/\/www.almasryalyoum.com\/news\/details\/1405897\">A forum<\/a> will be organized by Russia\u2019s Rosatom and the Nuclear Power Plants Authority to introduce local suppliers and contractors to the Dabaa nuclear plant.<\/p>\n<p>October: German businessman delegation will visit Egypt to discuss good projects in order to spend German funds into Egypt<\/p>\n<p>October: A delegation of 40-50 Saudi companies <a href=\"https:\/\/www.youm7.com\/story\/2019\/9\/22\/%D8%AA%D8%B5%D8%AF%D9%8A%D8%B1%D9%89-%D8%A7%D9%84%D8%A3%D8%AB%D8%A7%D8%AB-%D8%A8%D8%B9%D8%AB%D8%A9-%D8%AA%D8%AC%D8%A7%D8%B1%D9%8A%D8%A9-%D8%AA%D8%B6%D9%85-50-%D8%B4%D8%B1%D9%83%D8%A9-%D8%B3%D8%B9%D9%88%D8%AF%D9%8A%D8%A9-%D8%AA%D8%B2%D9%88%D8%B1-%D9%85%D8%B5%D8%B1\/4423096\">will visit Egypt<\/a> to discuss increasing exports of Egyptian furniture.<\/p>\n<p>3 October (Thursday): Emirates NBD \/ Markit PMI for Egypt released.<\/p>\n<p>5-6 October (Saturday-Sunday): Annual <a href=\"https:\/\/ifta2019cairo.com\/\">International Federation of Technical Analysts (IFTA) conference<\/a>. Cairo Marriott Hotel.<\/p>\n<p>6 October (Sunday): Armed Forces Day, national holiday.<\/p>\n<p>7-10 October (Monday-Thursday): A Russian delegation <a href=\"https:\/\/cms.shorouknews.com\/news\/view.aspx?cdate=01102019&id=8305768a-d246-40ff-859b-cc7bcd0bfce5\">will visit Cairo<\/a> to attend a joint forum to discuss cooperation in various fields, including trade.<\/p>\n<p>8-10 October (Tuesday-Thursday): <a href=\"http:\/\/enterprise.press\/wp-content\/uploads\/2019\/09\/Korean-Business-Council-Oct2019.pdf\">A delegation of 20 Korean companies visits Egypt<\/a>.<\/p>\n<p>10-13 October (Thursday-Sunday): <a href=\"http:\/\/biwarabia.com\/en\/\">Big Industrial Week Arabia 2019<\/a>, Egypt International Exhibition Center, Nasr City, Cairo.<\/p>\n<p>20-24 October (Sunday-Thursday): <a href=\"https:\/\/aegypten.ahk.de\/en\/\">German-Arab Chamber of Industry and Commerce\u2019s<\/a> ROI Week with <a href=\"https:\/\/roiinstitute.net\/\">ROI Institute<\/a>, JW Marriott Hotel, New Cairo<\/p>\n<p>22 October (Tuesday): <a href=\"https:\/\/www.almasryalyoum.com\/news\/details\/1420541\">Innovative Finance: A New Vision to Support Investment forum<\/a>, venue TBD, Cairo.<\/p>\n<p>23-24 October (Wednesday-Thursday): <a href=\"http:\/\/platforms-root-technologies.com\/icec-2019\/\">Intelligent Cities Exhibition & Conference<\/a>, Hilton Heliopolis, Cairo.<\/p>\n<p>23-24 October (Wednesday-Thursday): Russian-African Summit, Sochi City, Russia<\/p>\n<p>23 October-1 November (Wednesday-Friday): CIB PSA Women\u2019s World Championship, Great Pyramid of Giza, Cairo.<\/p>\n<p>28 October-22 November (Monday-Friday): <a href=\"https:\/\/www.itu.int\/en\/ITU-R\/conferences\/wrc\/2019\/Pages\/default.aspx\">World Radiocommunication Conference 2019<\/a>, Sharm El Sheikh, Egypt.<\/p>\n<p>28 October-31 October (Monday-Thursday): A Cairo court <a href=\"https:\/\/alborsaanews.com\/2019\/08\/06\/1233322\">will rule<\/a> on the stock manipulation case, in which Gamal and Alaa Mubarak are involved, along with seven other defendants.<\/p>\n<p>29-30 October (Tuesday-Wednesday): US Federal Open Market Committee will hold its two-day policy meeting to review the interest rate.<\/p>\n<p>29-30 October (Tuesday-Wednesday): <a href=\"https:\/\/africaoilandpower.com\/event\/ssop-2019\/\">South Sudan Oil & Power (SSOP) Conference<\/a>, Juba, South Sudan.<\/p>\n<p>31 October-2 November (Thursday-Saturday): Angel Oasis 2019, organized by the <a href=\"http:\/\/www.mainmena.com\/\">Middle East Angel Investment Network (MAIN)<\/a>, El Gouna, Egypt.<\/p>\n<p>3-5 November (Sunday-Tuesday): <a href=\"https:\/\/www.electricxegypt.com\/en\/Homepage.html\">Electrix 2019<\/a>, Egypt International Exhibition Center, Nasr City, Cairo.<\/p>\n<p>7-9 November (Thursday-Saturday): <a href=\"https:\/\/www.facebook.com\/events\/egypt-international-exhibitions-center-%D9%85%D8%B1%D9%83%D8%B2-%D9%85%D8%B5%D8%B1-%D9%84%D9%84%D9%85%D8%B9%D8%A7%D8%B1%D8%B6-%D8%A7%D9%84%D8%AF%D9%88%D9%84%D9%8A%D8%A9\/biznex-egypt-2019-%D8%A7%D9%84%D9%85%D8%B9%D8%B1%D8%B6-%D8%A7%D9%84%D8%AF%D9%88%D9%84%D9%8A-%D9%84%D9%84%D8%A5%D8%B3%D8%AA%D8%AB%D9%85%D8%A7%D8%B1-%D9%88%D8%A7%D9%84%D8%AA%D9%88%D9%83%D9%8A%D9%84%D8%A7%D8%AA-%D8%A7%D9%84%D8%AA%D8%AC%D8%A7%D8%B1%D9%8A%D8%A9\/320897962130653\/\">BiznEx Egypt 2019<\/a>, Egypt International Exhibition Center, Nasr City, Cairo.<\/p>\n<p>8-22 November: Egypt will host Under-23 Africa Cup of Nations 2019.<\/p>\n<p>9 November (Saturday): Prophet Mohammed's birthday, national holiday.<\/p>\n<p>9-11 November (Saturday-Monday): <a href=\"https:\/\/www.facebook.com\/vestedsummit\/\">Vested Summit<\/a>, Sahl Hasheesh, Red Sea.<\/p>\n<p>10-14 November (Sunday-Thursday): <a href=\"https:\/\/geomeast.org\/\">GeoMEast International Congress and Exhibition<\/a>, Marriott, Cairo.<\/p>\n<p>11-13 November (Monday-Wednesday): <a href=\"https:\/\/africainvestmentforum.com\/\">Africa Investment Forum<\/a>, Gauteng, South Africa.<\/p>\n<p>13-15 November (Wednesday-Friday): <a href=\"https:\/\/vc4a.com\/aesis\/africa-early-stage-investor-summit-2019\/\">Africa Early Stage Investor Summit<\/a>, Cape Town, South Africa.<\/p>\n<p>14-17 November (Thursday-Sunday): <a href=\"http:\/\/www.mactech.com.eg\/\">Machtech Expo<\/a>, Egypt International Exhibition Center, Nasr City, Cairo.<\/p>\n<p>14-17 November (Thursday-Sunday): <a href=\"http:\/\/www.transpotech-eg.com\/\">Transpotech Expo<\/a>, Egypt International Exhibition Center, Nasr City, Cairo.<\/p>\n<p>14-17 November (Thursday-Sunday): <a href=\"http:\/\/www.airtech-eg.com\/\">Airtech Expo<\/a>, Egypt International Exhibition Center, Nasr City, Cairo.<\/p>\n<p>22-23 November (Friday-Saturday): <a href=\"https:\/\/www.investmentforafrica.com\/\">Invest in Africa 2019 conference<\/a>, New Administrative Capital.<\/p>\n<p>24 November (Sunday): Arabia Investments lawsuit against French Peugeot (after being postponed)<\/p>\n<p>November: Suez Canal Conference for Investment, organized in cooperation with the <a href=\"https:\/\/www.youm7.com\/story\/2019\/5\/21\/%D8%B3%D9%81%D9%8A%D8%B1-%D8%A7%D9%84%D8%A7%D8%AA%D8%AD%D8%A7%D8%AF-%D8%A7%D9%84%D8%A3%D9%88%D8%B1%D9%88%D8%A8%D9%89-%D9%86%D9%86%D8%B8%D9%85-%D9%85%D8%B9-%D9%85%D8%B5%D8%B1-%D9%85%D8%A4%D8%AA%D9%85%D8%B1-%D9%82%D9%86%D8%A7%D8%A9-%D8%A7%D9%84%D8%B3%D9%88%D9%8A%D8%B3-%D9%84%D9%84%D8%A7%D8%B3%D8%AA%D8%AB%D9%85%D8%A7%D8%B1\/4251626\">European Union<\/a><\/p>\n<p>December: Egypt <a href=\"https:\/\/www.almalnews.com\/Story\/402348\/14\/-%D9%85%D8%B5%D8%B1-%D8%AA%D8%B3%D8%AA%D8%B6%D9%8A%D9%81-%D9%85%D8%B9%D8%B1%D8%B6--%D8%A8%D8%A7%D9%83-%D8%A8%D8%B1%D9%88%D8%B3%D9%8A%D8%B3--%D8%A7%D9%84%D8%B9%D8%A7%D9%85-%D8%A7%D9%84%D9%85%D9%82%D8%A8%D9%84-\">will host for the first time<\/a> the Pack Process trade expo for the Middle East and African region.<\/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>3-6 December (Tuesday-Friday): <a href=\"http:\/\/www.cairowoodshow.com\/\">Cairo WoodShow<\/a>, Egypt International Exhibition Center, Nasr City, Cairo.<\/p>\n<p>5-7 December (Thursday-Saturday): <a href=\"https:\/\/riseupsummit.com\/home\">RiseUp Summit<\/a>, American University in Cairo, New Cairo Campus<\/p>\n<p>8 December (Sunday): <a href=\"https:\/\/www.facebook.com\/events\/725969441185708\/\">Pitch by the Pyramids<\/a>, Giza Pyramids<\/p>\n<p>9-11 December (Monday-Wednesday): <a href=\"http:\/\/www.pacprocess-mea.com\/\">Pacprocess Middle East Africa<\/a>, Egypt International Exhibition Center, Nasr City, Cairo.<\/p>\n<p>9-11 December (Monday-Wednesday): <a href=\"http:\/\/www.foodafrica-expo.com\/\">Food Africa 2019 Expo<\/a>, Egypt International Exhibition Center, Nasr City, Cairo.<\/p>\n<p>10-11 December (Tuesday-Wednesday): US Federal Open Market Committee will hold its two-day policy meeting to review the interest rate.<\/p>\n<p>14-17 December (Saturday-Tuesday): <a href=\"https:\/\/wyfegypt.com\/\">World Youth Forum<\/a> 2019, Sharm El Sheikh.<\/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>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>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>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: <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>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>5-7 May 2020 (Tuesday-Thursday): <a href=\"https:\/\/www.afsic.net\/\">AFSIC - Investing in Africa<\/a>, London, United Kingdom.<\/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\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":593608,"menu_order":0,"template":"","categories":[],"tags":[],"class_list":["post-593607","issue","type-issue","status-publish","has-post-thumbnail","hentry","wpautop","entry"],"acf":{"mongo_id":"0cd180ea-4dd4-4e5d-aeb7-68eca1e838f8","teaser":"","photo_url":"https:\/\/ent.news\/2021\/1\/352.jpg"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - 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