{"id":595533,"date":"2019-09-30T04:13:12","date_gmt":"2019-09-30T04:13:12","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/?post_type=issue&#038;p=595533"},"modified":"2025-12-16T18:48:00","modified_gmt":"2025-12-16T18:48:00","slug":"last-weeks-sell-off-a-thing-of-the-past-as-egx30-surges-3-3","status":"publish","type":"issue","link":"https:\/\/enterpriseam.com\/egypt\/issues\/last-weeks-sell-off-a-thing-of-the-past-as-egx30-surges-3-3\/","title":{"rendered":"Last week\u2019s sell-off a thing of the past as EGX30 surges 3.3%."},"content":{"rendered":"<section id=\"595535\" 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=\"595535\">\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\/09\/30\/what-were-tracking-on-30-september-2019\/\">\r\n                            What we\u2019re tracking on 30 September 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\/09\/30\/what-were-tracking-on-30-september-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 EGP also strengthened against the USD on the back of Thursday\u2019s interest rate cut and improving sentiment among investors about the country\u2019s political climate. We have more details in this morning\u2019s Speed Round, below.<\/p><p><b>Our elected representatives will trudge back to the House of Representatives tomorrow<\/b> fresh for the start of the final legislative session of the current parliament. <b>We have a full round-up of key legislation <\/b>we expect to be on the government\u2019s agenda for the coming months in our Spotlight section, below.<\/p><p><b>Indicators we\u2019re keeping our eye on as we head into October:<\/b><\/p><ul>\n<li><b>PMI:<\/b> The purchasing managers\u2019 index for Egypt, the UAE, and Saudi Arabia will be released on <a href=\"https:\/\/www.markiteconomics.com\/Public\/Release\/ReleaseDates?language=en\">Thursday, 3 October at 6:15 CLT<\/a>. <\/li>\n<li><b>Foreign reserves:<\/b> The Central Bank of Egypt is due to release net foreign reserves figures for August this week or next.<\/li>\n<li><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. <\/li>\n<\/ul><p><b>Among the conferences taking place in the coming days:<\/b><\/p><ul>\n<li><b>The launch of the Mediterranean Business Angels Network<\/b> is taking place at the three-day <a href=\"https:\/\/press.us9.list-manage.com\/track\/click?u=3f7bc576715ca1a70edef2788&amp;id=6f1cf99c74&amp;e=b1f7fa86d8\">Techne Summit 2019<\/a>, which wraps up today at Bibliotheca Alexandrina.<\/li>\n<li><b>The three-day <\/b><a href=\"https:\/\/www.facebook.com\/TradeChinaEg\/?ref=py_c\"><b>China Trade Fair Egypt<\/b><\/a><b> finishes today<\/b>, bringing more than 195 Chinese manufacturers to the Cairo International Convention Center to meet with Egyptian businessmen.<\/li>\n<li>Beltone is running an <a href=\"http:\/\/enterprise.press\/wp-content\/uploads\/2019\/09\/Beltone-Access-Conference_-Press-Release.pdf\">investor conference<\/a> in Dubai this week.<\/li>\n<\/ul><p><a class=\"content-anchor\" id=\"tldr-story-07\"><\/a> <b>Waste collection mobile app Dawar launches today:<\/b> <a href=\"https:\/\/introgroup.org\/intro\/environ-adapt.html\">Environ-Adapt<\/a> and the Environment Ministry are launching their <a href=\"https:\/\/www.facebook.com\/dawar.street\/\">Dawar<\/a> mobile app today. The app allows users to report garbage on Cairo\u2019s streets and direct authorities to clean it up, <a href=\"https:\/\/almalnews.com\/%d9%88%d8%b2%d9%8a%d8%b1%d8%a9-%d8%a7%d9%84%d8%a8%d9%8a%d8%a6%d8%a9-%d8%a5%d8%b7%d9%84%d8%a7%d9%82-%d8%a3%d9%88%d9%84-%d8%aa%d8%b7%d8%a8%d9%8a%d9%82-%d9%84%d9%84%d8%a5%d8%a8%d9%84%d8%a7%d8%ba-%d8%b9\/\">Al Mal reports<\/a>. It links to the Waste Management Authority, the relevant district office (hayy), Cairo Governorate, and the Environment Ministry, which will jointly coordinate pickups. The app has been <a href=\"https:\/\/enterprise.press\/stories\/2018\/10\/25\/mobile-app-dawar-wants-to-make-a-buck-cleaning-cairos-streets-of-garbage\/\">in beta testing<\/a> in Maadi and Tora for the better part of a year.<\/p><p><b>It looks like our friend Lamees Al Hadidi is returning to the small screen on 20 October<\/b> with a new show called Cairo Now (El Qahera Al Aan) on Al Arabiya Al Hadath channel, <a href=\"https:\/\/www.shorouknews.com\/news\/view.aspx?cdate=29092019&amp;id=71b3e52b-1d0d-4518-9375-87f6ffe057df&amp;fbclid=IwAR19QukyjZzGk6sdoM9Mz185s4F0daE7kpWceIfKM09YURyxIYeyjcGpVAY\">Al Shorouk reports<\/a>. The show, which will cover local and regional affairs, will air on Sundays and Mondays from 21:00 to 23:00 pm. We\u2019ll be adding business-relevant segments of Lamees\u2019 new show to our Last Night\u2019s Talk Shows roundup.<\/p><p class=\"web-image\"><a href=\"https:\/\/www.reuters.com\/article\/us-emerging-markets-debt-graphic\/tidal-wave-of-emerging-market-debt-setting-new-records-idUSKBN1WB2EM\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2019\/9\/1839.jpg?ssl=1\"><\/a><\/p><p><b>EM debt issuance breaks records in September:<\/b> Corporate bond issuances in emerging markets broke September records last week as companies and governments took advantage of record low borrowing costs, <a href=\"https:\/\/www.reuters.com\/article\/us-emerging-markets-debt-graphic\/tidal-wave-of-emerging-market-debt-setting-new-records-idUSKBN1WB2EM\">Reuters reports<\/a>, citing JPMorgan data. Corporate issuances reached USD 60 bn on Thursday, surpassing the previous record of USD 53.9 bn set in 2017. The average amount raised in September in recent years has been USD 36.4 bn. Meanwhile, sovereigns sold more than USD 21 bn in bonds during the month, more than double the USD 9 bn issued during the previous six Septembers. \u201cIt has been an exceptionally heavy week for issuance,\u201d Koon Chow, EM macro and FX strategist at UBP, said. \u201cI think people are having a bit of trouble digesting it all.\u201d<\/p><p class=\"web-image\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2019\/9\/2270.jpg?ssl=1\"><\/p><p><b>Nasdaq gets tough on Chinese IPOs:<\/b> Nasdaq is limiting new offerings by Chinese companies due to a small number of Chinese investors crowding out US market players, <a href=\"https:\/\/www.reuters.com\/article\/us-usa-china-ipos-nasdaq-exclusive\/exclusive-nasdaq-cracks-down-on-ipos-of-small-chinese-companies-idUSKBN1WE0P5\">Reuters reports<\/a>. Listed Chinese companies tend to have a low trading volume due to the fact they raise the bulk of their capital from Chinese investors who hang onto their shares. Nasdaq is worried that a more illiquid stocks will drive away the large institutional investors it is trying to attract. The rule change comes as the US-China trade war continues to simmer.<\/p><p class=\"web-image\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2019\/9\/758.jpg?ssl=1\"><\/p><p><b>WTO\u2019s Airbus ruling this week could escalate US-EU trade spat:<\/b> The World Trade Organization is this week expected to allow the US to impose tariffs on USD 7.5 bn of European goods in retaliation for bns of USD in illegal subsidies allegedly given to Airbus by the EU, <a href=\"https:\/\/www.reuters.com\/article\/us-wto-aircraft-preview\/record-u-s-tariff-award-over-airbus-aid-could-fuel-trade-tensions-idUSKBN1WE04A\">Reuters reports<\/a>. The EU will not be able to respond until next year when the WTO rules whether the EU can slap the Americans for playing the same type of subsidy game with rival aerospace firm Boeing. The Donald has already slapped tariffs on European steel and aluminium and has threatened to expand them to include cars and car parts.<\/p><p><b>Support for impeaching The Donald increases bigly:<\/b> US public opinion is shifting in favor of an impeachment investigation into Donald Trump\u2019s alleged attempt to convince Ukraine\u2019s prime minister to investigate political rival Joe Biden. (<a href=\"https:\/\/www.axios.com\/trump-impeachment-inquiry-poll-c914aa44-2afe-4d88-9e05-c14eec28fc57.html\">Axios<\/a>)<\/p><p><b>Don\u2019t know your fusion from your fission?<\/b> <a href=\"https:\/\/www.bloomberg.com\/news\/features\/2019-09-28\/startups-take-aim-at-nuclear-fusion-energy-s-biggest-challenge\">Bloomberg has you covered<\/a> in this long-form article that delves into the history, the science and the possible future of a technology that could one day be the solution to our growing climate crisis.<\/p><p><b>April 2020 is D-Day for companies in the streaming war:<\/b> HBO, NBC and Jeffrey Katzenberg\u2019s video app Quibi will all launch next April in what <a href=\"https:\/\/www.axios.com\/a-streaming-month-to-remember-quibi-peacock-hbo-max-cd9edc91-d8e9-43bb-b7f6-d40ad51a1eda.html\">Axios suggests<\/a> will be a \u201cdecisive moment for the future of television.\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\/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\/debt\/\">debt<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/donald-trump\/\">Donald Trump<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/equities\/\">equities<\/a>\n                <!-- <span 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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=\"595537\">\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\/09\/30\/egp-egx-rally-after-cbe-rate-cut\/\">\r\n                            EGP, EGX rally after CBE rate cut                        <\/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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href=\"https:\/\/www.linkedin.com\/shareArticle?mini=true&url=https:\/\/enterpriseam.com\/egypt\/2019\/09\/30\/egp-egx-rally-after-cbe-rate-cut\/&title=EGP, EGX rally after CBE rate cut\">\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=EGP%2C+EGX+rally+after+CBE+rate+cut+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2019%2F09%2F30%2Fegp-egx-rally-after-cbe-rate-cut%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\/09\/30\/egp-egx-rally-after-cbe-rate-cut\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-595537\" class=\"content-area-description single-story post-595537 post type-post status-publish format-standard hentry category-enterprise-last-nights-talk-shows tag-ancient-egypt tag-archaeology tag-capital-markets tag-culture tag-egp tag-egx tag-egyptology tag-enterprise-last-nights-talk-shows tag-enterpriseam tag-grand-egyptian-museum tag-interest-rates tag-monetary-policy wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><b>The EGP flexed its muscles against the USD yesterday<\/b>, rallying on the first market day after the central bank cut key interest rates by another 100 bps in <a href=\"https:\/\/enterprise.press\/stories\/2019\/09\/29\/central-bank-of-egypt-cuts-rates-by-100-bps-in-line-with-expectations-2\/\">last week\u2019s<\/a> MPC meeting (<a href=\"https:\/\/www.youtube.com\/watch?v=Q-PuoLgZIX8&feature=youtu.be\">watch, runtime: 02:22<\/a>). The EGP strengthened to 16.31 against the greenback on Sunday compared to 16.38 on Thursday.<\/p>\n<p><b>The EGX30 picked up where it left off last week<\/b>, rising 3.3% during the session and reversing some of the losses it made during a sell-off last week that saw it drop 11% following protests the week before. We have more on both these stories in our Speed Round, below.<\/p>\n<p>President Abdel Fattah El Sisi urged the government yesterday to complete the <b>Grand Egyptian Museum<\/b> by the agreed time and in accordance with international standards, Al Hayah Al Youm\u2019s Lobna Assal highlighted (<a href=\"https:\/\/www.youtube.com\/watch?v=9-uoBurjsFw&feature=youtu.be\">watch, runtime: 01:28<\/a>). The museum is scheduled to open <a href=\"https:\/\/enterprise.press\/stories\/2019\/05\/02\/grand-egyptian-museum-inauguration-set-for-4q2020\/\">in 4Q2020<\/a>.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/ancient-egypt\/\">Ancient Egypt<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\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\/capital-markets\/\">capital markets<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/culture\/\">culture<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/egp\/\">EGP<\/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\/egyptology\/\">Egyptology<\/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\/grand-egyptian-museum\/\">Grand Egyptian Museum<\/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\/monetary-policy\/\">monetary policy<\/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=\"595538\" 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=\"595538\">\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\/09\/30\/egx30-extends-rally-after-central-bank-loosens-policy\/\">\r\n                            EGX30 extends rally after central bank loosens policy                        <\/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\/09\/30\/egx30-extends-rally-after-central-bank-loosens-policy\/\" 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\/09\/30\/egx30-extends-rally-after-central-bank-loosens-policy\/')\">\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\/09\/30\/egx30-extends-rally-after-central-bank-loosens-policy\/\">\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=EGX30 extends rally after central bank loosens policy&url=https:\/\/enterpriseam.com\/egypt\/2019\/09\/30\/egx30-extends-rally-after-central-bank-loosens-policy\/\">\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\/09\/30\/egx30-extends-rally-after-central-bank-loosens-policy\/&title=EGX30 extends rally after central bank loosens policy\">\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=EGX30+extends+rally+after+central+bank+loosens+policy+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2019%2F09%2F30%2Fegx30-extends-rally-after-central-bank-loosens-policy%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\/09\/30\/egx30-extends-rally-after-central-bank-loosens-policy\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2019\/9\/920.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"595539\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2019\/09\/30\/egx30-extends-rally-after-central-bank-loosens-policy\/920-jpg-2\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2019\/9\/920.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"920.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2019\/9\/920.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2019\/9\/920.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-595538\" class=\"content-area-description single-story post-595538 post type-post status-publish format-standard has-post-thumbnail hentry category-speed-round tag-enterpriseam tag-investment-watch 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> EGX30 extends rally after CBE loosens monetary policy: <\/b>The benchmark EGX30 index climbed 3.3% at session close yesterday in response to the <a href=\"https:\/\/enterprise.press\/stories\/2019\/09\/29\/central-bank-of-egypt-cuts-rates-by-100-bps-in-line-with-expectations-2\/\">central bank\u2019s 100 bps interest rate cut<\/a> on Thursday and muted protests over the weekend. All of EGX30 shares rose yesterday, led by Qalaa Holdings, which surged 13.7%. Index heavyweight CIB rose 2.5%. The EGX30 has now rallied for three consecutive sessions following last week\u2019s <a href=\"https:\/\/enterprise.press\/stories\/2019\/09\/25\/egx-share-slide-continues-wiping-out-2019-gains\/\">abysmal performance<\/a> when the first three trading days of the week saw it nosedive 11% on the back of investor anxiety about protests, almost wiping out 2019 gains. A recovery on Wednesday and Thursday helped the index claw back some of the losses, finishing the week down 6%.<\/p>\n<p><b>A quiet weekend and the CBE rate cut are driving the rebound, <\/b><a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2019-09-29\/egypt-stocks-rise-as-rate-cut-trumps-political-unrest-inside-em\">Bloomberg quoted<\/a> Naeem Brokerage\u2019s Allen Sandeep as saying. Investors \u201cmiscalculated\u201d the risk of political instability which caused them to dump stocks, he said. Raffaele Bertoni, head of debt capital markets at Gulf Investment Corp, added that, \u201cThe repricing of near-term political risk through a sell-off in Egyptian assets has already happened and investors should continue to look for confirmation that the good macro story is intact before taking any more aggressive positions in the country.\u201d <a href=\"https:\/\/af.reuters.com\/article\/egyptNews\/idAFL5N26K05C\">Reuters also took note<\/a> of the recovery.<\/p>\n<p><b>The EGP strengthened on Sunday<\/b> to 16.31 to the greenback compared to 16.38 at the end of last week, CBE <a href=\"https:\/\/www.cbe.org.eg\/en\/EconomicResearch\/Statistics\/Pages\/ExchangeRatesListing.aspx\">data showed<\/a>. Banking sources <a href=\"https:\/\/www.reuters.com\/article\/egypt-currency\/egypts-currency-strengthens-after-cbank-interest-rate-cut-idUSL5N26K0E3\">told Reuters<\/a> the appreciation was driven by inflows sparked by last week\u2019s interest rate cut. \u201cWe are seeing hot money flooding the gates before the yields go down any further,\u201d an unnamed banker told the newswire. \u201c<b>The EGP carry trade is still the most attractive in the world<\/b>.\u201d<\/p>\n<p><b>Commentary on last Thursday\u2019s interest rate cut continues to roll in:<\/b> Beltone Financial said in a note yesterday it expects the Central Bank of Egypt (CBE) to sustain its monetary easing cycle in the coming months, with \u201ca favorable base effect and EGP strength\u201d helping to keep inflation rates within the CBE\u2019s targets through the end of the year. Beltone doesn\u2019t expect the currency to rally beyond the EGP 16 \/ USD 1 mark, with limited fluctuations that will help keep inflation in check and allow for further rate cuts. The firm sees another 50 bps rate cut at the Monetary Policy Committee\u2019s next meeting in November, with a further 300 bps worth of cuts coming in 2020.<\/p>\n<p><b>Falling interest rates and slowing inflation will provide a boost to consumer spending<\/b>, HC said in <a href=\"https:\/\/ent.news\/2019\/9\/660.pdf\">a research note yesterday (pdf)<\/a>.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/investment-watch\/\">investment watch<\/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=\"595547\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"595548\" 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=\"595548\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">4<\/div>\r\n\r\n                    <p class=\"f-graphik\">Spotlight<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2019\/09\/30\/spotlight-on-the-fifth-legislative-session-of-the-house\/\">\r\n                            Spotlight on the fifth legislative session of the House                        <\/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\/09\/30\/spotlight-on-the-fifth-legislative-session-of-the-house\/\" 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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Here\u2019s what we expect this fall and winter:<\/p>\n<p class=\"web-image\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2019\/9\/tax-abacus-1600px.jpg?ssl=1\"><\/p>\n<p><b>TAXATION- The Madbouly Cabinet looks to continue making significant changes to the tax system in the coming months <\/b>as it pushes ahead with amendments to the VAT and Customs acts. There have been suggestions the Income Tax Act itself could be brought before MPs for changes, but it is still unclear if this will be ready during the current legislative cycle. All in all, we expect plenty of changes on the tax front this session.<\/p>\n<p><b>VAT Act changes:<\/b> A number of officials have told us this year of plans circulating in the ministry to impose VAT on digital businesses, including <a href=\"https:\/\/enterprise.press\/stories\/2018\/09\/10\/social-media-ad-tax-study-to-be-complete-this-month\/\">social media<\/a>, online search ads, and <a href=\"https:\/\/enterprise.press\/stories\/2019\/05\/15\/government-to-collect-vat-from-download-sites\/\">download sites<\/a>. A source told us in August that the government could place <a href=\"https:\/\/enterprise.press\/stories\/2019\/08\/26\/govt-could-impose-5-10-schedule-tax-on-social-media-ads\/\">a 5-10% schedule tax<\/a> on social media and internet search ads on top of the standard 14% VAT rate. Maait <a href=\"https:\/\/enterprise.press\/stories\/2019\/07\/30\/egypt-working-on-new-income-tax-vat-laws-maait\/\">said in July<\/a> that the ministry is looking to amend the VAT Act, assuring us that no changes will be made to the headline rate. While nothing is graven in store, expect the VAT to be a key part of the legislative agenda over the coming months, with public hearings and a review by House representatives expected to take place during the current legislative cycle.<\/p>\n<p><b>Customs Act amendments:<\/b> Long-awaited changes to the Customs Act <a href=\"https:\/\/enterprise.press\/stories\/2019\/06\/27\/customs-act-amendments-to-be-discussed-by-egypts-house-after-summer-break\/\">are expected to make a comeback<\/a> during the fifth legislative cycle after the government requested that the bill be withdrawn and amended further. The amendments could expedite clearance through a white list of importers and a revamped system of temporary clearances. They could also broaden the powers of customs clearance agents as well as provide an alternative pathway to settle customs disputes.<\/p>\n<p><b>New incentives for EGX listings:<\/b> Plans to introduce new incentives for companies to list on the EGX are currently in the drafting phase and reportedly close to being finalized by the ministry, <a href=\"https:\/\/enterprise.press\/stories\/2019\/09\/24\/govt-committee-close-to-finalizing-incentives-package-for-new-listings-on-egypts-bourse\/\">we learned last month<\/a>. Egyptian companies would see their tax bill cut in half for seven years if they list 35% or more of their shares on the exchange. Finance Minister Mohamed Maait is expected to review the package in the coming weeks.<\/p>\n<p><b>Plans afloat to bring back capital gains tax:<\/b> Sources <a href=\"https:\/\/enterprise.press\/stories\/2019\/07\/03\/finmin-egx-to-restore-the-old-capital-gains-tax-regime\/\">told Enterprise in July<\/a> of plans to restore the 10% capital gains tax (CGT) on gains made trading EGX-listed shares; the measure has been suspended and is currently scheduled to come into effect in May 2020. Resident investors could enjoy full exemptions from the CGT and stamp tax under a proposal now in the works, while non-residents would see stamp tax reduced to 0.1% from 0.15%. The proposal still seems to be with the cabinet, but sources said that it would be introduced to the House in the coming legislative cycle.<\/p>\n<p><b>Unified tax payment system:<\/b> A draft bill to reform the tax payment system <a href=\"https:\/\/enterprise.press\/stories\/2019\/07\/01\/cabinet-greenlights-proposed-legislation-on-new-unified-tax-payment-system\/\">was approved by the cabinet in July<\/a> and is now awaiting parliamentary review. The legislation would establish a single system for filing returns for income tax, stamp duty and VAT, as well as billing for and paying tax.<\/p>\n<p><b>SMEs Act:<\/b> Progress on the government\u2019s flagship legislation to convince the informal economy to go legit has been slow this year, with the Finance Ministry <a href=\"https:\/\/enterprise.press\/stories\/2018\/10\/02\/the-fourth-legislative-session-of-the-house-of-representatives\/\">originally hoping to pass the bill<\/a> to the House in 2018. Inter-ministerial negotiations over the shape of tax incentives <a href=\"https:\/\/enterprise.press\/stories\/2019\/04\/03\/egypt-govt-decides-on-tax-reductions-for-smes\/\">ground on until April<\/a>, when we got word that the finance and trade ministries had finally agreed on a package. The Council of State <a href=\"https:\/\/enterprise.press\/stories\/2019\/06\/24\/maglis-el-dawla-completes-its-review-of-smes-customs-acts\/\">approved the bill<\/a> and sent it to the cabinet in June. We currently understand that the act will include tax and non-tax incentives, including exemptions from the stamp tax as well as the fees to register contracts to set up companies and credit facilities for five years from the commercial registration date. SMEs would also be exempt from land registration fees for their projects, among other things. The act will set up a tier system based on an SME\u2019s revenues that <a href=\"https:\/\/enterprise.press\/stories\/2019\/04\/03\/egypt-govt-decides-on-tax-reductions-for-smes\/\">would set a flat tax<\/a> for each tier. These flat rates will be reassessed every three years.<\/p>\n<p><b>One big note: <\/b>When the government says \u201cSME\u201d legislation, it\u2019s generally talking about folks who play at the low end of the \u201csmall\u201d in SME.<\/p>\n<p><b>On the subject of SMEs:<\/b> The FRA is looking to <a href=\"https:\/\/enterprise.press\/stories\/2019\/05\/23\/egypts-fra-to-bring-sme-financing-under-2014-microfinance-law\/\">make SME-dedicated lenders subject to the 2014 microfinance law<\/a> in a series of new amendments approved by the regulator in May. The changes would also introduce a new EGP 20 mn capital requirement for SME lenders. The Central Bank of Egypt <a href=\"https:\/\/enterprise.press\/stories\/2019\/06\/02\/egypt-just-got-its-first-licensed-sme-focused-lender\/\">granted the first license to a SME lender<\/a>, CDC Group, in June. Amendments to make this law currently sit with cabinet for approval.<\/p>\n<p><b>Open questions:<\/b><\/p>\n<p><b>Will we see a new Income Tax Act this legislative cycle?<\/b> Finance Minister Mohamed <a href=\"https:\/\/enterprise.press\/stories\/2019\/07\/30\/egypt-working-on-new-income-tax-vat-laws-maait\/\">Maait announced<\/a> that the government had begun working on a new income tax law at the end of July, and <a href=\"https:\/\/enterprise.press\/stories\/2019\/09\/24\/egypt-finishes-initial-draft-of-new-income-tax-law\/\">an initial draft was finished<\/a> towards the end of last month. Not much is known about what the ministry is proposing, but Tax Authority head Abdel Azim Hussein told Enterprise that the bill will amend the procedure for filing tax returns, change how tax appeals are handled, and reform the ministry\u2019s internal tax committees. Maait has explicitly ruled out tinkering with tax rates, but the Cairo Chamber of Commerce <a href=\"https:\/\/enterprise.press\/stories\/2019\/09\/04\/cairo-chamber-of-commerce-to-suggest-changes-to-vat-income-tax-laws\/\">is pushing for the ministry<\/a> to raise the nil-rate band to EGP 24,000 per year, from a current EGP 8,000. The draft is now being sent for public consultations before going to the cabinet, but a government source tells us that no fixed deadline has been set for when the legislation will make it to the House.<\/p>\n<p><b>Amendments to the Universal Healthcare Act: <\/b>The Finance Ministry is considering making further changes to the Universal Healthcare Act that would set an across-the-board limit on the healthcare tithe paid by businesses to fund the new universal healthcare system, two government sources <a href=\"https:\/\/enterprise.press\/stories\/2019\/09\/17\/egypt-mulls-amending-corporate-healthcare-tithe-to-impose-egp-10k-cap-across-the-board\/\">told Enterprise earlier this month<\/a>. The amendments would see businesses pay the 0.25% levy on revenues, but the payment would be capped at EGP 10,000, regardless of the size of the company or its revenues.<\/p>\n<p class=\"web-image\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2019\/9\/2232.jpg?ssl=1\"><\/p>\n<p><b>BUSINESS AND ECON- You can expect the regulatory framework for finance to change<\/b> <b>significantly<\/b>, with amendments to the Banking Act expected to make their way to the House. Sweeping changes to the insurance landscape are also in the cards with the coming of the new Insurance Act, which could expand the powers of the Financial Regulatory Authority as the sector\u2019s regulator. And speaking of the FRA: Look for it to be made an autonomous agency this legislative cycle. Meanwhile, consumer finance is expected to be regulated for the first time, and you can expect legislation regulating \u201cnew\u201d industries including medical tourism and electric vehicles.<\/p>\n<p><b>Banking Act:<\/b> Legislation granting the Central Bank of Egypt increased oversight of the banking sector and strengthened corporate governance regulations has been in the works for a while now and <a href=\"https:\/\/enterprise.press\/stories\/2019\/05\/15\/cbe-boss-presents-draft-banking-act-to-cabinet\/\">finally made its way to cabinet in May<\/a>. Probably the biggest revelation this year was the news that the legislation <a href=\"https:\/\/enterprise.press\/stories\/2019\/05\/22\/commercial-banks-could-see-capital-requirements-rise-tenfold-under-banking-act-amendments\/\">could impose strict new capital requirements<\/a> on domestic and foreign banks, as well as foreign exchange bureaus. Commercial banks could be forced to hold 10x more (EGP 5 bn) in their capital reserves, while foreign banks may see their requirements triple to USD 150 mn. The act will also impose term limits on board members <a href=\"https:\/\/enterprise.press\/stories\/2019\/05\/21\/banking-act-to-impose-term-limits-on-board-members-at-state-owned-banks\/\">at state-owned banks<\/a> \u2014 not on managing directors <a href=\"https:\/\/enterprise.press\/stories\/2019\/04\/02\/new-banking-act-will-not-impose-term-limits-on-banks-managing-directors\/\">as was rumored earlier this year<\/a> \u2014 as well as introduce <a href=\"https:\/\/enterprise.press\/stories\/2019\/05\/29\/crypto-businesses-will-need-to-obtain-licenses-under-proposed-banking-act\/\">new licensing requirements for crypto businesses<\/a>. The bill was expected to enter the House at the end of May but as far as we know is still being reviewed by the cabinet.<\/p>\n<p><b>Insurance Act:<\/b> New legislation giving the Financial Regulatory Authority (FRA) oversight over the insurance sector has been in the pipeline since 2018, and has been in the consultation stage for much of 2019. From what we know so far, <a href=\"https:\/\/enterprise.press\/stories\/2019\/07\/30\/fra-gives-itself-all-regulatory-power-over-industry-in-insurance-act\/\">the act would grant<\/a> the FRA significant new powers over licensing, business formation and board composition, and <a href=\"https:\/\/enterprise.press\/stories\/2019\/08\/06\/fra-give-itself-more-power-in-insurance-act\/\">monitor bank deposits<\/a>. Provisions to <a href=\"https:\/\/enterprise.press\/stories\/2019\/06\/20\/egypts-fra-finalizes-new-insurance-act-capital-minimum-more-or-less-the-same\/\">raise minimum capital requirements<\/a> by as much as 733% remain intact, much to the chagrin of insurance companies <a href=\"https:\/\/enterprise.press\/stories\/2019\/01\/31\/insurance-companies-not-happy-with-capital-requirements-in-insurance-act\/\">which came out against the proposals<\/a> earlier this year.<\/p>\n<p><b>New mandatory insurance covers: <\/b>Recent amendments to the legislation would make insurance mandatory in 21 cases, <a href=\"https:\/\/www.masrawy.com\/news\/news_egypt\/details\/2019\/9\/16\/1635629\/%D9%8A%D8%B4%D9%85%D9%84-%D8%B1%D9%88%D8%A7%D8%AF-%D8%A7%D9%84%D9%85%D8%B3%D8%A7%D8%B1%D8%AD-%D9%88%D8%A7%D9%84%D8%B3%D9%8A%D9%86%D9%85%D8%A7-%D9%88%D8%A7%D9%84%D8%B7%D9%84%D8%A7%D8%A8-21-%D8%AA%D8%A3%D9%85%D9%8A%D9%86-%D8%A5%D8%AC%D8%A8%D8%A7%D8%B1%D9%8A-%D9%81%D9%8A-%D9%82%D8%A7%D9%86%D9%88%D9%86-%D8%A7%D9%84%D8%AA%D8%A3%D9%85%D9%8A%D9%86-%D8%A7%D9%84%D9%85%D9%88%D8%AD%D8%AF-%D8%A7%D9%84%D8%AC%D8%AF%D9%8A%D8%AF\">according to Masrawy<\/a>. These cover everything from electronic and non-banking financial transactions, to insurance on utilities, health insurance for students, and more controversially, marriage. The last thing we heard, the FRA <a href=\"https:\/\/enterprise.press\/stories\/2019\/09\/16\/egypts-regulator-to-hand-new-insurance-act-to-cabinet-this-week\/\">was scheduled to hand the final draft<\/a> to cabinet for approval in September.<\/p>\n<p><b>Consumer Credit Act:<\/b> New legislation that would set up a federation for non-bank consumer finance and require companies to obtain a license from the FRA to sell goods on installment <a href=\"https:\/\/enterprise.press\/stories\/2019\/02\/07\/egypts-cabinet-greenlights-consumer-credit-act\/\">was approved by the cabinet in February<\/a>. All consumer finance players would be subject to the Consumer Credit Act, but retailers and manufacturers would only fall under the act if more than 25% of their annual sales are made on installment plans. The House Economic Committee <a href=\"https:\/\/enterprise.press\/stories\/2019\/06\/23\/house-agrees-to-govt-proposed-bills-to-support-civil-servants\/\">greenlit the draft in June<\/a> following consultations. House representatives are expected to discuss the law further with the expectation that the House general assembly will vote on the act in the coming legislative cycle.<\/p>\n<p><b>Legislation granting FRA autonomy:<\/b> Legislation that would grant Financial Regulatory Authority (FRA) Act operational autonomy is expected to be revisited during the next cycle. The bill, if passed, <a href=\"https:\/\/enterprise.press\/stories\/2019\/06\/13\/draft-law-granting-egypts-fra-autonomy-revealed\/\">would give the authority<\/a> status as a separate legal entity with its own balance sheet. The authority\u2019s head would be appointed by the president and would effectively have cabinet rank. The law had been introduced during the fourth cycle, but had been delayed during public hearings, as companies expressed concern that this would grant the FRA sweeping powers, a source from the House tells us.<\/p>\n<p><b>New central clearing company for Egyptian debt: <\/b>The Madbouly Cabinet\u2019s <a href=\"https:\/\/enterprise.press\/stories\/2019\/06\/23\/egypts-cabinet-approves-establishing-new-central-clearing-company\/\">economic group approved in June<\/a> establishing a new central clearing and depository company, which is expected to handle all the clearing and registry of government debt issuances, as well as collect taxes from these issuances.<\/p>\n<p><b>Public Enterprises Act amendments:<\/b> A package of amendments to the Public Enterprises Act remains in the drafting stage, <a href=\"https:\/\/enterprise.press\/stories\/2018\/10\/08\/public-enterprises-act-amendments-completed\/\">a year after Public Enterprises Minister Hisham Tawfik announced<\/a> the legislation. Plans to remove listed companies that are 75% government-owned from the act <a href=\"https:\/\/enterprise.press\/stories\/2019\/04\/22\/companies-up-to-75-owned-by-the-state-could-be-reclassified-as-law-159-enterprises\/\">were revealed in April<\/a>, and are meant to improve governance for companies slated as part of the state privatization program and increase appetite for them.<\/p>\n<p><b>PPP Act amendments:<\/b> The Finance Ministry <a href=\"https:\/\/enterprise.press\/stories\/2019\/06\/20\/egypts-finance-ministry-finalizes-ppp-law-amendments\/\">completed amendments to the PPP law<\/a> in June. The changes would make it easier for private sector firms to participate in public-private partnership (PPP) projects by eliminating competitive bidding in favor of direct negotiations, allowing unsolicited proposals, and broadening the range of projects on offer. The legislation should be introduced to the House in the coming legislative session.<\/p>\n<p><b>Real estate developers could face new regulation:<\/b> Fresh legislation <a href=\"https:\/\/enterprise.press\/stories\/2018\/10\/24\/egyptian-house-of-representatives-to-debate-tinkering-with-investment-act-proposal-to-regulate-ad-industry-loses-steam-real-estate-developers-could-get-state-sanctioned-federation\/\">announced by the Housing Ministry<\/a> at the start of the previous legislative session to regulate real estate developers is currently being reviewed by the government and industry stakeholders. The bill would <a href=\"https:\/\/enterprise.press\/stories\/2019\/01\/21\/house-committee-to-approve-draft-law-to-regulate-real-estate-development\/\">create a new federation<\/a> for the sector armed with licensing powers and set up an insurance fund to protect consumers. Companies <a href=\"https:\/\/enterprise.press\/stories\/2019\/03\/12\/developers-object-to-jail-punishment-in-new-law-in-the-making\/\">were understandably unhappy<\/a> to learn of proposals to fine and jail developers which miss deadlines. This is a key issue to be resolved before the bill passes to the cabinet for approval.<\/p>\n<p><b>Amendments to the \u201cold rent\u201d law:<\/b> <a href=\"https:\/\/enterprise.press\/stories\/2019\/06\/12\/house-approves-govt-proposed-amendments-on-prosecution-judicial-authorities-pensions-and-non-housing-rent\/\">Amendments to the old rent law<\/a>, which would increase rents on pre-1996 commercial contracts, <a href=\"https:\/\/enterprise.press\/stories\/2019\/07\/16\/egypts-parliament-passes-amended-ngos-act-social-security-and-pensions-act-in-final-rush-before-summer\/\">were sent back<\/a> to the House Housing Committee in June after causing \u201cwide controversy\u201d in parliament. The legislation is also expected to be expanded to encompass non-residential leases. The amendments will be re-introduced to the House in the coming session.<\/p>\n<p><b>Medical tourism legislation:<\/b> A bill to regulate the medical tourism industry was placed on the legislative agenda <a href=\"https:\/\/enterprise.press\/stories\/2018\/12\/23\/house-approves-civil-rights-medical-tourism-legislation\/\">back in December<\/a>. The legislation would <a href=\"https:\/\/enterprise.press\/stories\/2019\/05\/12\/medical-tourism-legislation-could-add-usd-1-bn-to-egypts-annual-tourism-receipts\/\">create a national authority for the industry<\/a>, and it appears to require the government to develop a plan to market medical tourism abroad. A draft of the bill was recently completed by the House Tourism Committee and it will be discussed in the upcoming legislative cycle, <a href=\"https:\/\/www.shorouknews.com\/news\/view.aspx?cdate=04092019&id=c988ef4a-b2bc-4724-87eb-60267e8a8eaf\">according to Al Shorouk<\/a>.<\/p>\n<p><b>Regulating electric vehicles: <\/b><a href=\"https:\/\/enterprise.press\/stories\/2019\/01\/30\/house-committee-almost-done-with-electric-vehicles-draft-law\/\">We learned in January<\/a> that the House Energy Committee was close to completing legislation to regulate the import and sale of electric vehicles. While we have heard nothing from the House on the new legislation, we have heard that the Madbouly Cabinet approved this month legislative amendments to the Industry Act that would set up a regulatory framework (including standards and quality control measures) for the industry, <a href=\"https:\/\/www.vetogate.com\/3561228\">according to Veto Gate<\/a>.<\/p>\n<p><b>IN LIMBO- <\/b>There are a number of business and econ-related bills that seem to have been consigned to legislative limbo. These include:<\/p>\n<ul>\n<li><b>Fast-tracking international arbitration cases: <\/b>The House Legislative Committee was said to be reviewing a proposed law <a href=\"https:\/\/enterprise.press\/stories\/2018\/10\/30\/house-looks-at-legislation-which-could-cut-down-on-egypts-intl-arbitration-cases\/\">in October<\/a> that could accelerate the investor dispute resolution process during cases where the Administrative Court attempts to reverse the privatization of state-owned companies. Provisions would grant the prime minister the power to transfer such cases to the Investment Ministry\u2019s dispute resolution committees for arbitration. <\/li>\n<li><b>Trademark Act amendments: <\/b>The Trade Development Authority <a href=\"https:\/\/enterprise.press\/stories\/2018\/12\/09\/egypt-working-on-amendments-to-trademark-law-to-protect-investors-consumers\/\">said last year<\/a> that it was working on draft amendments to the trademark law to provide better protection to investors and consumers. The current status is unknown.<\/li>\n<\/ul>\n<p class=\"web-image\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2021\/1\/crowd-1600px.jpg?ssl=1\"><\/p>\n<p><b>SOCIAL AND POLITICAL- The government is expected to make strides in overhauling the cash subsidies system this year,<\/b> but it appears that the House\u2019s social and political legislative agenda will be focused on protecting personal data and combating fake news.<\/p>\n<p><b>Cash Subsidies Act:<\/b> <a href=\"https:\/\/enterprise.press\/stories\/2019\/07\/07\/government-to-send-cash-subsidies-act-to-parliament-next-week-4\/\">The Social Solidarity Ministry revealed<\/a> in July that a new Cash Subsidies Act would command the government to review subsidy rolls once every three years in an effort to keep track of ineligible beneficiaries. The bill also tightens eligibility criteria, and mandates the government to assist the ineligible in finding work. It was even reported that no new recipients to the cash subsidy program would be added until the act is passed by the House. The ministry <a href=\"https:\/\/enterprise.press\/stories\/2019\/07\/15\/what-were-tracking-on-15-july-2019\/\">said on the penultimate day of the previous legislative session<\/a> that it would send the bill to the House for approval but this doesn\u2019t appear to have happened.<\/p>\n<p><b>Data Protection Act: <\/b>The House <a href=\"https:\/\/enterprise.press\/stories\/2019\/08\/27\/parliament-to-review-data-protection-act-in-october\/\">is due to review<\/a> the Data Protection Act when it returns this month. The bill will introduce minimum one-year prison terms and fines ranging between EGP 100k and EGP 1 mn for any company caught illegally collecting, trading or disclosing personal data.<\/p>\n<p><b>Combating fake news:<\/b> The deputy house speaker <a href=\"https:\/\/enterprise.press\/stories\/2019\/03\/10\/egypt-deputy-house-speaker-looks-to-draft-law-aimed-at-dispelling-false-rumors\/\">announced plans to draft an \u201canti-fake news\u201d act in March<\/a> in which a newly-established body would monitor media and internet propaganda. The House ICT Committee, which is currently drafting the legislation, <b>will include the death penalty<\/b> as a punitive measure is certain cases, committee chair Ahmed Badawy said, <a href=\"https:\/\/www.almasryalyoum.com\/news\/details\/1425684\">according to Al Masry Al Youm.<\/a><\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/house-of-representatives\/\">House of Representatives<\/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\/regulation\/\">regulation<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/tax\/\">tax<\/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=\"595550\" 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=\"595550\">\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\/09\/30\/egypt-in-the-news-on-30-september-2019\/\">\r\n                            Egypt in the news on 30 September 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\/09\/30\/egypt-in-the-news-on-30-september-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\/09\/30\/egypt-in-the-news-on-30-september-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\/09\/30\/egypt-in-the-news-on-30-september-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 30 September 2019&url=https:\/\/enterpriseam.com\/egypt\/2019\/09\/30\/egypt-in-the-news-on-30-september-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\/09\/30\/egypt-in-the-news-on-30-september-2019\/&title=Egypt in the news on 30 September 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+30+September+2019+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2019%2F09%2F30%2Fegypt-in-the-news-on-30-september-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\/09\/30\/egypt-in-the-news-on-30-september-2019\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-595550\" class=\"content-area-description single-story post-595550 post type-post status-publish format-standard hentry category-egypt-in-the-news tag-alaa-abdel-fattah tag-egypt-in-the-news tag-enterpriseam tag-mohamed-ali tag-thomas-cook tag-tourism wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><b>The conversation about Egypt in the foreign press continues to be driven by the prospect of additional protests<\/b>, with international outlets largely agreeing that videos by former government contractor Mohamed Ali are fanning the flames of underlying grievances, including rising poverty and a lack of space for expression. Many put forward the view that the high level of arrests will not help restore stability, pointing to Sunday\u2019s re-arrest of high-profile activist Alaa Abdel Fattah while under probation. (<a href=\"https:\/\/www.voanews.com\/africa\/repression-risks-fueling-egypt-instability-analysts-warn\">Agence France-Presse<\/a> | <a href=\"https:\/\/www.dw.com\/en\/opinion-egypts-suffering-has-reached-its-limits\/a-50626412\">Deutsche Welle<\/a> | <a href=\"https:\/\/theconversation.com\/egypts-protests-uncover-deep-cracks-in-al-sisis-strongman-facade-124354\">The Conversation<\/a>)<\/p>\n<p>Other stories to skim this morning:<\/p>\n<ul>\n<li><b>Prioritizing palaces:<\/b> <a href=\"https:\/\/thearabweekly.com\/controversy-surrounds-egypts-construction-presidential-palaces\">The Arab Weekly<\/a> wades into the controversy over El Sisi\u2019s presidential palaces, quoting the recently-arrested Cairo University professor Hassan Nafaa to argue that the government should focus more on alleviating poverty, and and improving healthcare and education.<\/li>\n<li><b>Child abuse in the spotlight after five-year-old tortured to death: <\/b>The death of a five-year-old girl who was burned and tortured by her grandmother after being [redacted] assaulted by her father is being used to highlight child abuse issues in Egypt <a href=\"https:\/\/gulfnews.com\/world\/mena\/outrage-after-egyptian-woman-tortures-granddaughter-to-death-1.66769153\">by Gulf News<\/a>. <\/li>\n<li><b>Brits missing in Cairo:<\/b> UK police are assisting family members search for a British woman and her daughter who went missing in Cairo over two weeks ago, <a href=\"https:\/\/in.news.yahoo.com\/desperate-family-search-for-mother-and-fouryearold-who-are-missing-in-cairo-184230273.html\">reports Yahoo News UK<\/a>.<\/li>\n<li><b>Thai student arrested:<\/b> A Thai student was arrested in Cairo last week for suspected links to Daesh, the <a href=\"https:\/\/www.bangkokpost.com\/thailand\/general\/1761004\/thai-student-arrested-in-egypt-for-suspected-link-to-is\">Bangkok Post reports<\/a>. <\/li>\n<li><b>Museums galore:<\/b> <a href=\"https:\/\/edition.cnn.com\/travel\/article\/best-museums-egypt\/index.html\">CNN travel<\/a> has gathered a list of 11 up and coming museums in Egypt showcasing a variety of artifacts, palaces, historical people, religious areas, and cultures. In keeping with the museum theme, <a href=\"https:\/\/www.thetimes.co.uk\/article\/grand-egyptian-museum-cairo-egypt-behind-the-scenes-wbtn8l965\">the Times<\/a> explores some of the ancient treasures that are being taken to the Grand Egyptian Museum, set to open <a href=\"https:\/\/enterprise.press\/stories\/2019\/09\/22\/grand-egyptian-museum-93-complete-in-preparation-for-2020-inauguration\/\">at the end of 2020<\/a>. <\/li>\n<\/ul>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/alaa-abdel-fattah\/\">Alaa Abdel Fattah<\/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\/mohamed-ali\/\">Mohamed Ali<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/thomas-cook\/\">Thomas Cook<\/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=\"595551\" 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=\"595551\">\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\/09\/30\/machine-learning-and-big-data-analysis-set-to-transform-white-collar-jobs\/\">\r\n                            Machine learning and big data analysis set to transform white-collar jobs                        <\/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\/09\/30\/machine-learning-and-big-data-analysis-set-to-transform-white-collar-jobs\/\" 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\/09\/30\/machine-learning-and-big-data-analysis-set-to-transform-white-collar-jobs\/')\">\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\/09\/30\/machine-learning-and-big-data-analysis-set-to-transform-white-collar-jobs\/\">\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=Machine learning and big data analysis set to transform white-collar jobs&url=https:\/\/enterpriseam.com\/egypt\/2019\/09\/30\/machine-learning-and-big-data-analysis-set-to-transform-white-collar-jobs\/\">\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\/09\/30\/machine-learning-and-big-data-analysis-set-to-transform-white-collar-jobs\/&title=Machine learning and big data analysis set to transform white-collar jobs\">\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=Machine+learning+and+big+data+analysis+set+to+transform+white-collar+jobs+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2019%2F09%2F30%2Fmachine-learning-and-big-data-analysis-set-to-transform-white-collar-jobs%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\/09\/30\/machine-learning-and-big-data-analysis-set-to-transform-white-collar-jobs\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2019\/9\/112.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"595552\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2019\/09\/30\/machine-learning-and-big-data-analysis-set-to-transform-white-collar-jobs\/112-jpg-17\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2019\/9\/112.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"112.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2019\/9\/112.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2019\/9\/112.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-595551\" class=\"content-area-description single-story post-595551 post type-post status-publish format-standard has-post-thumbnail hentry category-worth-reading tag-ai tag-automation tag-big-data tag-enterpriseam tag-machine-learning tag-worth-reading wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><a class=\"content-anchor\" id=\"tldr-story-06\"><\/a> <b>Machine learning and big data analysis set to transform white-collar jobs:<\/b> White-collar jobs may be swept away faster by digital change than in any previous economic transformation, but employees will reap the benefits of machine learning, writes Robert Wright in the <a href=\"https:\/\/www.ft.com\/content\/c4bf787a-d4a0-11e9-a0bd-ab8ec6435630\">Financial Times<\/a>. As machine learning systems become more sophisticated, their ability to spot patterns in large pools of data, undetectable to humans, opens up new possibilities for workplace efficiency and productivity. The change is expected to impact more than basic jobs, instead extending to previously unforeseen areas <a href=\"https:\/\/enterprise.press\/stories\/2019\/09\/05\/the-next-ai-frontier-international-mediation\/\">like law<\/a>, that were thought to be immune to the robot takeover because they require more judgment and analysis. Nearly a third of jobs in finance and insurance in developed economies may be automated by 2029, as well as 50% of all clerical roles, research from PwC shows.<\/p>\n<p><b>But the robots learn slowly, and probably can\u2019t supplant us entirely: <\/b>Whether it\u2019s complex analytical and sorting work \u2014 such as the assessment of insurance claims \u2014 or <a href=\"https:\/\/www.economist.com\/science-and-technology\/2019\/09\/26\/robots-abilities-to-recognise-and-manipulate-things-are-improving\">using motor-like skills<\/a> to lift a piece of wood, machine learning systems need time and a lot of human feedback to learn. While cost-effective in the long term, they are cost- and effort-intensive in the short term. So although it is straightforward for workplace systems to automate standardized processes or conduct a relatively superficial analysis of documents, anything that requires greater nuance, flexibility, judgement, or relationship-building is still dependent on human input. The automation of white-collar jobs will therefore likely happen at a slower rate than predicted, says the head of global research and development for the law firm Baker McKenzie, with new technologies being gradually introduced alongside employees, rather than replacing them.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/ai\/\">AI<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/automation\/\">automation<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/big-data\/\">big data<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/machine-learning\/\">machine learning<\/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=\"595553\" 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=\"595553\">\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\/09\/30\/egypt-rallies-intl-support-to-resolve-gerd-gridlock\/\">\r\n                            Egypt rallies int\u2019l support to resolve GERD gridlock                        <\/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\/09\/30\/egypt-rallies-intl-support-to-resolve-gerd-gridlock\/\" 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\/09\/30\/egypt-rallies-intl-support-to-resolve-gerd-gridlock\/')\">\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\/09\/30\/egypt-rallies-intl-support-to-resolve-gerd-gridlock\/\">\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 rallies int\u2019l support to resolve GERD gridlock&url=https:\/\/enterpriseam.com\/egypt\/2019\/09\/30\/egypt-rallies-intl-support-to-resolve-gerd-gridlock\/\">\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\/09\/30\/egypt-rallies-intl-support-to-resolve-gerd-gridlock\/&title=Egypt rallies int\u2019l support to resolve GERD gridlock\">\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+rallies+int%E2%80%99l+support+to+resolve+GERD+gridlock+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2019%2F09%2F30%2Fegypt-rallies-intl-support-to-resolve-gerd-gridlock%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\/09\/30\/egypt-rallies-intl-support-to-resolve-gerd-gridlock\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-595553\" class=\"content-area-description single-story post-595553 post type-post status-publish format-standard hentry category-diplomacy-foreign-trade tag-diplomacy tag-diplomacy-foreign-trade tag-enterpriseam tag-foreign-policy tag-nile-basin wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><b>Shoukry rallying int\u2019l support to resolve GERD gridlock: <\/b>Foreign Minister Sameh Shoukry brought up the Grand Ethiopian Renaissance Dam (GERD) negotiations in several meetings with other foreign ministers during the UN General Assembly in New York last week after President Abdel Fattah El Sisi called on the international community to help Egypt, Sudan, and Ethiopia reach a resolution. Shoukry expressed Egypt\u2019s \u201cdissatisfaction with the prolonged talks\u201d to the <a href=\"https:\/\/www.facebook.com\/MFAEgypt\/photos\/a.603302616408355\/3131091363629455\/?type=3&theater\">Russian<\/a>, <a href=\"https:\/\/www.facebook.com\/MFAEgypt\/posts\/3126493830755875?__tn__=-R\">Dutch<\/a>, <a href=\"https:\/\/www.facebook.com\/MFAEgypt\/posts\/3128582260547032?__tn__=-R\">Finnish<\/a>, <a href=\"https:\/\/www.facebook.com\/MFAEgypt\/posts\/3131114303627161?__xts__%5B0%5D=68.ARCdK15KHETxAoBXPm1N83kuDXw51h7FfD-_Y4SY6uPNcU338KjI18BGqOYwmf9_rA6RwZx9zUaCX5wLPLuzLaMmux0Ikjros9wmU4KEN42d-Mw8hynb8qf8pVqg13k3u1J-ObPBsn1ESpax3hEeobqCBOcsFV67KwszF0JIf7I34dDvttCZizeXrpsVIp4-nHWdbb51GJKmGjErjSOrB0F7gJGaDZSPicch63OrhP_NFtlTlwkCSicaWuPIV6zMLzc4M5eyJbUmzrTl3Jh2cqVj_Ni329aZqnFVkaws33VJPW5FsZukjfz7kGiI713dYuSBBaDzdLSsS5pAwErM-7zvPg&__tn__=-R\">South Sudanese<\/a>, <a href=\"https:\/\/www.facebook.com\/MFAEgypt\/posts\/3131073490297909?__xts__%5b0%5d=68.ARDpZk1nmQykyuHqtk61ndqWMrO7p4JlVdXmxPqtSN_yB2Y7a2d1-IdOwh8ILrZf16ugIRd8Vg9vqLihQpqFHwVxX29QQzOCRJEVTUc3g3PXMgSjb6wIN8yq24Waj0fp6R-ReLVgDmYSidt8au0ZVaFfGX1Slh0z9G_N7mlF0UVLbpLTLw0s6Oxyi-WnCG9jClOUIOFVtcnoG6uMZBu_lBNGbGYGtk9ZKw0tbKqjm-S3VvFi9TaRKhrWHvi5vW31-iCv5CjEroBQYxLhv0Z37hrnauaZVMwTIbbmeBVn0HhvaYBNLkrYtjiS0UU3cvALoAmju8x-sBVxmJpfAOHcdAZ5MA&__tn__=-R\">Senegalese<\/a>, and <a href=\"https:\/\/www.facebook.com\/MFAEgypt\/posts\/3131100410295217?__xts__%5B0%5D=68.ARDgaWz3KaIXv8yqMIQqhvU5BQe-KyXyTIihHfV4nbHo8IeYDyk_UEfM-6Yo9RysWBTyzdTWoftuq6lsiYIR3I9woHprj2ZJC5KbnTeTHX_e0ZYAYCds0OCAH-yvvjfix8ssMtMvNmR81vI9cRJzkkMp7ZsLYiLTlNs-d8UNeoarQmWhoLV5yg5nYBMB6EO1GHv33PNsDbc_5HOgtD7xFQnjLmyQvonKBjROHsHw10A8CssSzuabKbaMG2FxdmtUWN_lutJhOwBklP3Hsr__HmcoBzc0aVdp4i3Ieplnojyt6wnYYlFXyiMOJJjorlXb3pDi5vpfr-bkwoio2yX0u6IVBQ&__tn__=-R\">Burundian<\/a> foreign ministers in separate meetings.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/diplomacy\/\">DIPLOMACY<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/diplomacy-foreign-trade\/\">Diplomacy + Foreign Trade<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/foreign-policy\/\">foreign policy<\/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=\"595554\" 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=\"595554\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">8<\/div>\r\n\r\n                    <p class=\"f-graphik\">The Market Yesterday<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2019\/09\/30\/the-market-yesterday-301\/\">\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\/09\/30\/the-market-yesterday-301\/\" 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\/09\/30\/the-market-yesterday-301\/')\">\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\/09\/30\/the-market-yesterday-301\/\">\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\/09\/30\/the-market-yesterday-301\/\">\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\/09\/30\/the-market-yesterday-301\/&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%2F09%2F30%2Fthe-market-yesterday-301%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\/09\/30\/the-market-yesterday-301\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-595554\" class=\"content-area-description single-story post-595554 post type-post status-publish format-standard hentry category-the-market-yesterday tag-enterpriseam tag-the-market-yesterday wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><p><b>EGP \/ USD CBE market average: <\/b>Buy 16.19 | Sell 16.31<b><\/p>\n<p> EGP \/ USD at CIB:<\/b> Buy 16.21 | Sell 16.31<\/p>\n<p> <b>EGP \/ USD at NBE: <\/b>Buy 16.23 | Sell 16.33<\/p>\n<p><b>EGX30<\/b> (Sunday): 14,316 (+3.3%)<\/p>\n<p> <b>Turnover:<\/b> EGP 939 mn (38% above the 90-day average)<\/p>\n<p> <b>EGX 30 year-to-date<\/b>: +9.8%<\/p>\n<p><b>THE MARKET ON SUNDAY:<\/b> The EGX30 ended Sunday\u2019s session up 3,3%. CIB, the index\u2019s heaviest constituent, ended up 2.5%. EGX30\u2019s top performing constituents were Qalaa Holdings up 13.7%, Ezz Steel up 9.1%, and Sidi Kerir Petrochemicals up 7.4%. The market turnover was EGP 939 mn, and foreign investors were the sole net sellers.<\/p>\n<p><b>Foreigners<\/b>: Net short | EGP -106.0 mn<\/p>\n<p> <b>Regional<\/b>: Net long | EGP +32.3 mn<\/p>\n<p> <b>Domestic<\/b>: Net long | EGP +73.6 mn<\/p>\n<p><b>Retail<\/b>: 70.3% of total trades | 73.9% of buyers | 66.6% of sellers<\/p>\n<p> <b>Institutions<\/b>: 29.7% of total trades | 26.1% of buyers | 33.4% of sellers<\/p>\n<p><b>WTI:<\/b> USD 56.02 (+0.2%)<\/p>\n<p> <b>Brent:<\/b> USD 61.94 (+0.05%)<\/p>\n<p><b>Natural Gas<\/b> (Nymex, futures prices) USD 2.39 MMBtu, (-0.6%, October 2019 contract)<\/p>\n<p> <b>Gold:<\/b> USD 1,498.80 \/ troy ounce (-0.5%)<\/p>\n<p><b>TASI:<\/b> 8,055 (+0.3%) (YTD: +2.9%)<\/p>\n<p> <b>ADX:<\/b> 5,074 (+0.1%) (YTD: +3.2%)<\/p>\n<p> <b>DFM:<\/b> 2,780 (-0.6%) (YTD: +9.9%)<\/p>\n<p> <b>KSE Premier Market:<\/b> 6,199 (-0.4%)<\/p>\n<p> <b>QE:<\/b> 10,365 (-0.2%) (YTD: +0.9%)<\/p>\n<p> <b>MSM:<\/b> 4,032 (+0.4%) (YTD: -6.8%)<\/p>\n<p> <b>BB: <\/b>1,517 (-0.2%) (YTD: +13.5%)<\/p><\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/the-market-yesterday\/\">The Market Yesterday<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"595555\" 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\/09\/30\/595555\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-595555\" class=\"content-area-description single-story post-595555 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>28-30 September (Saturday-Monday): <a href=\"https:\/\/alex.technesummit.com\/2019\">Techne Summit<\/a>, Alexandria.<\/p>\n<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>1 October (Tuesday): The House of Representatives reconvenes for its fourth legislative session.<\/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>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>14 November (Thursday): The Central Bank of Egypt\u2019s Monetary Policy Committee will meet to review interest rates.<\/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>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>, to be announced and <a href=\"https:\/\/www.facebook.com\/events\/725969441185708\/\">Pitch by the Pyramids<\/a>, Giza Pyramids<\/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): The 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\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":595534,"menu_order":0,"template":"","categories":[],"tags":[],"class_list":["post-595533","issue","type-issue","status-publish","has-post-thumbnail","hentry","wpautop","entry"],"acf":{"mongo_id":"dae300b5-4980-4256-b8eb-5d653160851e","teaser":"","photo_url":"https:\/\/ent.news\/2018\/9\/2320.jpg"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - 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