{"id":596908,"date":"2019-07-11T03:58:20","date_gmt":"2019-07-11T03:58:20","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/?post_type=issue&#038;p=596908"},"modified":"2025-12-16T19:34:32","modified_gmt":"2025-12-16T19:34:32","slug":"rejoice-inflation-cooled-in-june","status":"publish","type":"issue","link":"https:\/\/enterpriseam.com\/egypt\/issues\/rejoice-inflation-cooled-in-june\/","title":{"rendered":"Rejoice: Inflation cooled in June"},"content":{"rendered":"<section id=\"596910\" 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=\"596910\">\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\/07\/11\/what-were-tracking-on-11-july-2019\/\">\r\n                            What we\u2019re tracking on 11 July 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\/07\/11\/what-were-tracking-on-11-july-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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Capmas data shows that inflation fell to 9.4% last month from 14.1% in May.<\/p><p><b>Will this have any impact on the central bank\u2019s decision on interest rates?<\/b> It\u2019s unlikely. Economists we spoke to yesterday still overwhelmingly agree that the Monetary Policy Committee will choose to leave rates on hold when it meets later today. However, Pharos has now joined Naeem Brokerage in predicting a 100 bps rate cut. Eight of nine economists <a href=\"https:\/\/enterprise.press\/stories\/2019\/07\/07\/enterprise-poll-cbe-to-leave-key-interest-rates-on-hold-this-thursday\/\">we polled<\/a> prior to the release of the new inflation data forecast a hold, while <a href=\"https:\/\/enterprise.press\/stories\/2019\/07\/10\/what-were-tracking-on-10-july-2019\/\">a Reuters survey<\/a> produced similar results, with 14 of 15 respondents saying the same. We have chapter and verse in this morning\u2019s Speed Round, below.<\/p><p><b>New export subsidies framework that could see brand new incentives tied to Africa exports could be revealed next week<\/b>,unnamed government <a href=\"https:\/\/alborsaanews.com\/2019\/07\/09\/1223375\">sources tell the local press<\/a>. The new framework to disburse export subsidies currently being drafted by the government could see exporters receive advantages in land allocation and land prices for their projects. Those who export to new markets, such as East Africa, might also receive further incentives, said the head of the construction materials export council Walid Gamal El Din.<\/p><p><b>It would appear the government is transitioning export subsidies payments from a cash-based program to an incentive-based program.<\/b> The finance and trade ministries held meetings<a href=\"https:\/\/enterprise.press\/stories\/2019\/06\/23\/egypt-to-dedicate-egp-6-bn-annually-in-the-budget-for-exports-subsidies\/\">last month<\/a> to discuss allowing exporters to net overdue subsidies off against their taxes. The move comes as part of the government\u2019s effort to make good on what is claimed to be <a href=\"https:\/\/enterprise.press\/stories\/2018\/11\/18\/whats-happening-with-the-promised-release-of-export-subsidy-funds-ask-egypts-exporters\/\">some EGP 12 bn owed<\/a> to Egyptian exporters by the Export Subsidy Fund since last year. Sources said that 80 companies are expected to be paid overdue export subsidies (in one form or another) over the coming three months.<\/p><p><b>The House of Representatives\u2019 general assembly is expected to vote on <\/b><a href=\"https:\/\/enterprise.press\/stories\/2019\/06\/12\/house-approves-govt-proposed-amendments-on-prosecution-judicial-authorities-pensions-and-non-housing-rent\/\"><b>amendments to the controversial \u201cold rent\u201d law<\/b><\/a><b> today<\/b>, <a href=\"https:\/\/almalnews.com\/%d8%a7%d9%84%d8%a5%d9%8a%d8%ac%d8%a7%d8%b1-%d8%a7%d9%84%d9%82%d8%af%d9%8a%d9%85-%d9%8a%d8%b4%d8%b9%d9%84-%d9%85%d8%b9%d8%b1%d9%83%d8%a9-%d8%a8%d9%8a%d9%86-%d8%b9%d8%a8%d8%af-%d8%a7\/\">according to Al Mal<\/a>. The amendments, which would subject commercial tenants with leases signed prior to 1996 to an instant 5x hike in rent and a 15% annual increase for five years, stirred up quite the debate when House Speaker Ali Abdel Aal insisted that the law be applicable to individuals as well as companies. The majority of representatives appear to have rejected Abdel Aal\u2019s proposal, arguing that the move would be burdensome in a high-inflation environment.<\/p><hr class=\"grey-line\"><p class=\"web-image\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2019\/3\/JayPowell-1600px.jpeg?ssl=1\"><\/p><p><a class=\"content-anchor\" id=\"tldr-story-06\"><\/a> <b>Across the pond, expectations for the first interest rate cut in the US in a decade are growing stronger<\/b> after US Federal Reserve Chair Jerome Powell said concerns over the economic outlook have not dissipated in recent weeks. \u201cThough the U.S. government reported strong job growth for June, other major economies\u2019 \u2018data have continued to disappoint. That is very broad across Europe and around Asia, and that continues to weigh,\u2019\u201d Powell said in his testimony before the House Financial Services Committee yesterday, <a href=\"https:\/\/www.reuters.com\/article\/us-usa-fed-powell\/feds-powell-bolsters-rate-cut-view-on-trade-global-growth-concerns-idUSKCN1U50DT\">according to Reuters<\/a>. The trade riff with China has also been weighing on the American economy, and agreeing to restart talks with Beijing is positive, but \u201cdoesn\u2019t remove the uncertainty,\u201d he said.<\/p><p><b>Powell\u2019s message was reinforced by the minutes from the Fed\u2019s policymaking committee\u2019s last meeting<\/b>, in which officials said \u201ca rate cut could be warranted \u2018in the near term\u2019 if uncertainty persisted,\u201d the <a href=\"https:\/\/www.nytimes.com\/2019\/07\/10\/business\/economy\/jerome-powell-rate-cut.html?action=click&amp;module=Top%20Stories&amp;pgtype=Homepage\">New York Times says<\/a>. The Fed next meets on 30 and 31 July.<\/p><hr class=\"grey-line\"><p><b>Investors are \u201cwarming\u201d to EM fixed income:<\/b> Growing certainty about the US Federal Reserve\u2019s policy direction combined with last week\u2019s trade ceasefire between the US and China is good news for EM bonds, Mark Matthews, MD and head of Asia research at Bank Juluis Baer, told Bloomberg (<a href=\"https:\/\/www.bloomberg.com\/news\/videos\/2019-07-09\/emerging-market-fixed-income-favored-bank-julius-baer-video\">watch, runtime: 2:34<\/a>) \u201cPeople are warming to the EM asset class on the fixed income side\u2026 We like both local currency and USD. The spread between the two is tight enough that buying USD isn\u2019t going to deteriorate your returns that substantially,\u201d he said.<\/p><p><b>Morgan Stanley could give EM bonds a boost.<\/b> Morgan Stanley\u2019s <a href=\"https:\/\/enterprise.press\/stories\/2019\/07\/09\/what-were-tracking-on-9-july-2019\/\">report earlier this week<\/a> advising investors to get out of equities and into EM bonds could draw more attention to the asset class. An <a href=\"https:\/\/seekingalpha.com\/article\/4274151-emb-emerging-markets-bonds-benefit-morgan-stanley-report\">article on Seeking Alpha<\/a> points out that the yields offered by emerging bond ETFs are considerably more attractive than other passively managed bond funds. JPMorgan\u2019s EM bond ETF is currently yielding 5.27% while Vanguard\u2019s ETF has a 5.22% yield, providing a better return than many US junk bonds.<\/p><p><b>A consortium led by British private equity firm CVC Capital Partners has agreed to acquire 30% of Dubai-based GEMS Education<\/b>, according to <a href=\"https:\/\/www.ft.com\/content\/ab178020-a309-11e9-a282-2df48f366f7d\">the Financial Times<\/a>. The stake is currently held by another consortium led by Dubai\u2019s Fajr Capital, which includes funds managed by Bahrain\u2019s sovereign wealth fund Mumtalakat and US PE firm Blackstone. GEMS is one of the largest education providers in emerging markets.<\/p><hr class=\"grey-line\"><p><b>The US is looking for an Iran agreement \u2014 but could still impose more sanctions: <\/b>The White House is looking to replace the 2015 Iran nuclear accord with a Congress-approved agreement, but could introduce yet more economic sanctions against Tehran, US Special Representative for Iran Brian Hook said yesterday, <a href=\"https:\/\/www.reuters.com\/article\/us-mideast-iran-usa-hook\/us-seeks-a-congress-approved-deal-with-iran-hook-idUSKCN1U50SK\">Reuters reports<\/a>. Iran swiftly shot down the idea, with Foreign Minister Mohammad Javad Zarif saying that \u201cnegotiations are never possible under duress,\u201d <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2019-07-10\/iran-s-zarif-says-negotiations-under-duress-never-possible?srnd=premium\">according to Bloomberg<\/a>. Tehran refused to back down on its nuclear breach unless Europe gives it full economic support, <a href=\"https:\/\/www.theguardian.com\/world\/2019\/jul\/10\/iran-enrichment-breach-to-go-on-until-nuclear-deal-rights-achieved\">the Guardian says<\/a>.<\/p><p><b>Egypt keen to dial back tensions:<\/b> Egypt is opposed to conflict with Iran due to the potential knock-on effects in the Gaza strip, unnamed officials told <a href=\"http:\/\/english.ahram.org.eg\/NewsContent\/1\/64\/337716\/Egypt\/Politics-\/All-eyes-on-Gaza.aspx\">Ahram Online<\/a>. The sources voiced concern that Iran could attempt to unwind the fragile truce between Hamas and Israel that Egypt helped to broker earlier this year.<\/p><p>In global miscellany:<\/p><ul>\n<li><b>Trump makes a soft U-turn on Huawei:<\/b> The US will issue licenses to companies wanting to sell American-made products to Huawei provided that it does not harm national security, Commerce Secretary Wilbur Ross said yesterday, <a href=\"https:\/\/www.cnbc.com\/2019\/07\/09\/us-will-issue-licenses-to-sell-to-huawei-says-commerce-secretary-ross.html\">according to CNBC<\/a>.<\/li>\n<li><b>Britain\u2019s ambassador to the United States, Kim Darroch, resigned yesterday<\/b> after the leak of diplomatic cables earlier this week in which Darroch called the Trump administration \u201cinept,\u201d among other criticisms, <a href=\"https:\/\/apnews.com\/ff976447c51d412f9039cc0ec6d3a875\">the Associated Press reports<\/a>. <\/li>\n<li><b>Turkey isn\u2019t looking so good:<\/b> Actions taken by Turkish President Recep Tayyip Erdogan, including ousting the central bank chief, could cause the country\u2019s economy to collapse, Ashmore Group has warned, <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2019-07-09\/turkey-seen-heading-for-latin-style-economic-calamity-by-ashmore?srnd=premium-middle-east\">Bloomberg says<\/a>. <\/li>\n<\/ul><p><b>PSA- The Harvard Business School admissions team is coming to Cairo for the first time to host an information session for prospective MBA students<\/b> on Wednesday, 17 July at the Greek Campus at 7:00 pm CLT. Did you attend HBS? The admissions team also wants to connect with alumni, and will host a separate reception exclusively for alumni before the presentation. You can <a href=\"https:\/\/apply.hbs.edu\/register\/?id=06b737a4-8961-46fc-87cc-a24b9b2a38dd\">register for the event here<\/a>.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/bonds\/\">Bonds<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/capmas\/\">CAPMAS<\/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\/china\/\">China<\/a>\n    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             <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/iran\/\">Iran<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/mas\/\">M&amp;As<\/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                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/morgan-stanley\/\">Morgan Stanley<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/naeem-brokerage\/\">Naeem Brokerage<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/politics\/\">politics<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/recep-tayyip-erdogan\/\">Recep Tayyip Erdogan<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/turkey\/\">Turkey<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/uae\/\">UAE<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/what-were-tracking-today\/\">What We&#039;re Tracking Today<\/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=\"596911\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">      \r\n<section id=\"advertiser\" class=\"enterprise-adv issue-section\">\r\n    <div class=\"issue-section__content\" style=\"flex-direction: column;\">\r\n  \r\n                <h4 class=\"wp-block-heading has-text-align-center has-normal-font-size\">\r\n                <span class=\"has-primary-color stk-highlight\">This publication is proudly sponsored by<\/span><\/h4>\r\n                \r\n\r\n                \r\n                <div class=\"wp-block-stackable-carousel alignwide stk-block-carousel stk--is-slide stk--infinite-scroll stk--arrows-justify-space-between stk--arrows-align-center stk-block stk-a38cfb2 sponsor-slider-container mb-0\" data-slides-to-show=\"3\" data-block-id=\"a38cfb2\"><style>.stk-a38cfb2 {--slides-to-show:3 !important;}.stk-a38cfb2 .stk-block-carousel__button{background:#00000099 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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\/07\/11\/inflation-bread-subsidies-diplomacy-with-africa-get-airtime-on-egypts-airwaves\/\">\r\n                            Inflation, bread subsidies, diplomacy with Africa get airtime on Egypt\u2019s airwaves                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a 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href=\"https:\/\/www.linkedin.com\/shareArticle?mini=true&url=https:\/\/enterpriseam.com\/egypt\/2019\/07\/11\/inflation-bread-subsidies-diplomacy-with-africa-get-airtime-on-egypts-airwaves\/&title=Inflation, bread subsidies, diplomacy with Africa get airtime on Egypt\u2019s airwaves\">\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=Inflation%2C+bread+subsidies%2C+diplomacy+with+Africa+get+airtime+on+Egypt%E2%80%99s+airwaves+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2019%2F07%2F11%2Finflation-bread-subsidies-diplomacy-with-africa-get-airtime-on-egypts-airwaves%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\/07\/11\/inflation-bread-subsidies-diplomacy-with-africa-get-airtime-on-egypts-airwaves\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-596912\" class=\"content-area-description single-story post-596912 post type-post status-publish format-standard hentry category-enterprise-last-nights-talk-shows tag-africa tag-diplomacy tag-enterprise-last-nights-talk-shows tag-enterpriseam tag-inflation tag-social-welfare wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><b>Yesterday\u2019s release of lower-than-expected inflation figures<\/b> was among the highlights on the airwaves last night, which were otherwise relatively bland.<\/p>\n<p><b>Yahduth fi Masr\u2019s Sherif Amer gave us a blow-by-blow of Capmas\u2019 report on June\u2019s inflation figures<\/b>, which were driven down by a drop in most foodstuff, particularly vegetables. Some food items, including seafood and fruits, saw their prices rise during the month, Amer noted (<a href=\"https:\/\/www.youtube.com\/watch?v=wR9RAjGq3UE\">watch, runtime: 1:57<\/a>). We have the full story in Speed Round, below.<\/p>\n<p><b>Supply Ali El Moselhy reassured the public that there will be no increases in the prices of subsidized bread and basic commodities<\/b> despite this month\u2019s fuel subsidy cuts, Amer also reported (<a href=\"https:\/\/www.youtube.com\/watch?v=ezARfo0c334\">watch, runtime: 2:13<\/a>).<\/p>\n<p><b>El Sisi\u2019s African diplomacy still going strong: <\/b>Al Hayah Al Youm\u2019s Khaled Abu Bakr kept himself busy with President Abdel Fattah El Sisi\u2019s <a href=\"https:\/\/www.facebook.com\/Egy.Pres.Spokesman\/posts\/645691719283545?__xts__%5B0%5D=68.ARDsby60tk5AAfUMdPhA8CMSC2Pu1RuXfVttJbZjcSBHO0j6iBLQlrVHCktAqtu2yjv9EsrhLwRCPMNry1na-VILARl0ldZY-_l8UzP1Jtw0hdkOdZxPjGSHIXrOBh_6WM3XITbv6iFpLMJYaESPDN_dbN42TuhtYwvqrkgq_i9XGVzcPeCtGq3k-G2lQZxnTuNUIPcIK1n0Dk4fBcVATWXBfwroPcXn6Ds6-pXJ0XIZIoylS97LQM7q5iUG4erOEdIhnAQx7L1fc3e0CuR7leIsbCgzr_LF7vOb8Wlya7z0dJlhUaxzTN92vku2HZOPJs9xH6Ts8fX-GFQQYaK030A&__tn__=-R\">bilateral discussions<\/a> with Tanzanian Prime Minister Kassim Majaliwa <a href=\"https:\/\/www.youtube.com\/watch?v=ZCKzLw2znAM\">(watch, runtime: 2:51)<\/a>. The meeting comes after El Sisi chaired on Sunday <a href=\"https:\/\/enterprise.press\/stories\/2019\/07\/08\/afcftas-operational-phase-launched-at-au-summit\/\">a two-day summit<\/a> in Niger to launch the African Continental Trade Area (AfCFTA)<\/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\/africa\/\">Africa<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/diplomacy\/\">DIPLOMACY<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/enterprise-last-nights-talk-shows\/\">Enterprise+: Last Night\u2019s Talk Shows<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/inflation\/\">inflation<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/social-welfare\/\">social welfare<\/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=\"596913\" 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=\"596913\">\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\/07\/11\/egypts-inflation-rate-in-single-digits-for-first-time-since-march-2016-cbe-still-expected-to-hold-rates\/\">\r\n                            Egypt\u2019s inflation rate in single digits for first time since March 2016, CBE still expected to hold rates                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a 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data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2019\/07\/11\/egypts-inflation-rate-in-single-digits-for-first-time-since-march-2016-cbe-still-expected-to-hold-rates\/1946-jpg-2\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2019\/6\/1946.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1946.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2019\/6\/1946.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2019\/6\/1946.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-596913\" class=\"content-area-description single-story post-596913 post type-post status-publish format-standard has-post-thumbnail hentry category-speed-round tag-enterpriseam tag-inflation tag-monetary-policy 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>Inflation hits lowest levels in over three years, but mind the subsidy cuts in next month\u2019s reading:<\/b> Egypt\u2019s annual headline urban inflation rate dropped to 9.4% in June from 14.1% in May, the first time the reading has come in single digits since <a href=\"https:\/\/www.cbe.org.eg\/en\/EconomicResearch\/Statistics\/Pages\/Inflationhistorical.aspx\">March 2016<\/a>, <a href=\"https:\/\/ent.news\/2019\/7\/1835.pdf\">the CBE said (pdf)<\/a> in a statement on Wednesday. <a href=\"https:\/\/www.capmas.gov.eg\/Pages\/ShowHmeNewsPDF.aspx?page_id=\/Admin\/News\/PressRelease\/201971075851_%D8%A7%D9%84%D8%A8%D9%8A%D8%A7%D9%86%20%D8%A7%D9%84%D8%B5%D8%AD%D9%81%D9%8A%206-2019.pdf&Type=News\">Capmas attributed the drop<\/a> to a 2.2% month-on-month decline in food prices. The drop follows a surprisingly uptick in headline inflation the <a href=\"https:\/\/enterprise.press\/stories\/2019\/06\/11\/annual-inflation-increases-to-14-1-in-may\/\">previous month<\/a> to 15.1% from 13% in April, following a downward trend which began in February. Annual core inflation came at 6.4%, down from 7.8% in May, said the CBE. <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2019-07-10\/egypt-inflation-at-slowest-in-over-3-years-as-food-brings-relief\">Bloomberg<\/a> and <a href=\"https:\/\/af.reuters.com\/article\/egyptNews\/idAFL8N24B0N2\">Reuters<\/a> also have the story.<\/p>\n<p><b>Base effect could explain the drop:<\/b> \u201cThe drop is a result of a favorable base effect of 2018, which saw energy prices go up in June by 50%, followed by a pickup in inflation, whereas this June saw no fiscal measures,\u201d said CI Capital economist Noaman Khalid.<\/p>\n<p><b>The new figures have pushed analysts to lower their projections for inflation this year.<\/b> \u201cWe revised downward our inflation rates for 2H2019, expecting an average reading of 8.8% (versus our earlier estimate of 13.8%) only on the back of adjusted calculations following the new low figure registered in June,\u201d Beltone Financial said. Pharos Holding has also revised its inflation forecasts for July, August, and September to 9.9%, 10.8%, and 9%, respectively, said Radwa El Swaify, head of research at the investment bank. Shuaa Securities also said it saw July inflation coming at lower than 14.5%, as previously expected, but preferred not to give out a specific range. \u201cWe\u2019re looking for 10-11% in July and August, single-digits from September to November before ending the year at 10-12%,\u201d said EFG Hermes\u2019 Mohamed Abu Basha.<\/p>\n<p><b>Good news for carry traders: <\/b>The lower inflation rate increases the real yield in investment, which could help maintain a healthy appetite in the treasury market, CI Capital\u2019s Khalid says. Foreign holdings in Egyptian treasury bonds have been recovering since the beginning of this year, rising to <a href=\"https:\/\/enterprise.press\/stories\/2019\/06\/19\/foreign-holdings-in-egypt-debt-rise-to-usd-17-6-bn\/\">around USD 18.7 bn<\/a> as of June.<\/p>\n<p><b>REVISED INTEREST RATE POLL- <\/b><b>Despite the drop, the CBE is still widely expected to hold its key interest rates<\/b> in its MPC meeting later today in light of the government raising fuel prices between 16% and 30% <a href=\"https:\/\/enterprise.press\/stories\/2019\/07\/07\/government-raises-fuel-prices-phasing-out-remaining-fuel-subsidies\/\">earlier this month<\/a> and new electricity subsidy cuts coming into effect. Four of the nine economists <a href=\"https:\/\/enterprise.press\/stories\/2019\/07\/07\/enterprise-poll-cbe-to-leave-key-interest-rates-on-hold-this-thursday\/\">we polled earlier this week<\/a> maintained their prediction that the CBE to keep the overnight deposit and lending rates at 15.75% and 16.75%, respectively. Even those who see a high chance of a rate cut still think the CBE will prioritize the impact of the subsidy cuts. \u201cFalling inflation, coupled with the dovish shift among central banks around the globe, increases the chances of an interest rate cut. But we think that the CBE will want to assess the impact of electricity and fuel price hikes that took effect this month,\u201d Capital Economics said in a note yesterday.<\/p>\n<p><b>Pharos Holding has revised its position, expecting the CBE to cut the rates by 100 bps in today\u2019s meeting.<\/b> With the high demand from foreign investors for EGP treasuries, the strengthening of the EGP, and the newly revised projections for inflation this year, analysts at Pharos believe that the environment is ripe for an interest rate cut.<\/p>\n<p><b>Naeem Brokerage\u2019s Allen Sandeep also maintained his position<\/b> <b>that the CBE will ease monetary policy by cutting rates by 100 bps today<\/b>, telling Enterprise yesterday that the new inflation figures only confirmed his forecast. \u201cFor the months of July and August, we expect the monthly inflation rate to rise on account of the latest round of energy subsidy cuts; however, with the price hikes (in percentage terms) being well below 2018 levels, the uptick in inflation should be relatively muted, leaving some room for monetary easing,\u201d Naeem said in a note yesterday.<\/p>\n<p><b>If not now, then when?<\/b> Shuaa Securities\u2019 Esraa Ahmed said she expected a cut in August or September \u2014 instead of November as previously forecasted \u2014 should the July figures rise at a moderate level. Other analysts have told Enterprise that they also saw cuts coming earlier than initially expected, but preferred not to say when just yet.<\/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\/inflation\/\">inflation<\/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                            <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=\"596927\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"596928\" 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=\"596928\">\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\">Image of the Day<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2019\/07\/11\/cartography-in-eleventh-century-cairo\/\">\r\n                            Cartography in eleventh-century Cairo                        <\/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\/07\/11\/cartography-in-eleventh-century-cairo\/\" 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\/07\/11\/cartography-in-eleventh-century-cairo\/')\">\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\/07\/11\/cartography-in-eleventh-century-cairo\/\">\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=Cartography in eleventh-century Cairo&url=https:\/\/enterpriseam.com\/egypt\/2019\/07\/11\/cartography-in-eleventh-century-cairo\/\">\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\/07\/11\/cartography-in-eleventh-century-cairo\/&title=Cartography in eleventh-century Cairo\">\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=Cartography+in+eleventh-century+Cairo+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2019%2F07%2F11%2Fcartography-in-eleventh-century-cairo%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\/07\/11\/cartography-in-eleventh-century-cairo\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2019\/7\/1136.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"596929\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2019\/07\/11\/cartography-in-eleventh-century-cairo\/1136-jpg-2\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2019\/7\/1136.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1136.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2019\/7\/1136.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2019\/7\/1136.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-596928\" class=\"content-area-description single-story post-596928 post type-post status-publish format-standard has-post-thumbnail hentry category-image-of-the-day tag-enterpriseam tag-history tag-image-of-the-day wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><b>Cartography in eleventh-century Cairo:<\/b> <a href=\"https:\/\/www.apollo-magazine.com\/lost-maps-caliphs-book-review\/\">Apollo Magazine<\/a> reviews this collection of Fatimid-era maps stored at Oxford University\u2019s Bodleian library. Pictured above is a map of Sicily, which has been dated back to around 1200 CE.<\/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\/history\/\">History<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/image-of-the-day\/\">IMAGE OF THE DAY<\/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=\"596930\" 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=\"596930\">\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\/07\/11\/egypt-in-the-news-on-11-july-2019\/\">\r\n                            Egypt in the News on 11 July 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\/07\/11\/egypt-in-the-news-on-11-july-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\/07\/11\/egypt-in-the-news-on-11-july-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\/07\/11\/egypt-in-the-news-on-11-july-2019\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" 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class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=Egypt+in+the+News+on+11+July+2019+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2019%2F07%2F11%2Fegypt-in-the-news-on-11-july-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\/07\/11\/egypt-in-the-news-on-11-july-2019\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-596930\" class=\"content-area-description single-story post-596930 post type-post status-publish format-standard hentry category-egypt-in-the-news tag-egypt-in-the-news tag-enterpriseam tag-human-rights tag-tourism-and-antiquities-ministry tag-turkey wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><b>Planned lawsuit against Christie\u2019s continues to top coverage:<\/b> On an otherwise calm morning for Egypt in the foreign press, the government\u2019s plan to take legal action against London\u2019s Christie Auction House is still leading the conversation on Egypt in the foreign press this morning, with <a href=\"https:\/\/www3.nhk.or.jp\/nhkworld\/en\/news\/20190711_05\/\">Japan\u2019s state broadcaster NHK<\/a> the latest to take note.<\/p>\n<p><b>Another day, another Amnesty report:<\/b> Political dissidents are arbitrarily detained in Egypt, and find themselves back in prison on \u201cfabricated charges,\u201d <a href=\"https:\/\/www.amnesty.org\/en\/latest\/news\/2019\/07\/egypt-detainees-trapped-in-revolving-doors-of-prison-system-as-authorities-bypass-release-orders\/\">says Amnesty International<\/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\/egypt-in-the-news\/\">Egypt in the News<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/human-rights\/\">human rights<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/tourism-and-antiquities-ministry\/\">Tourism and Antiquities Ministry<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/turkey\/\">Turkey<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"596931\" 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=\"596931\">\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\">ON THE FRONT PAGES<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2019\/07\/11\/el-sisis-meeting-with-the-finance-electricity-ministers-tops-front-pages\/\">\r\n                            El Sisi\u2019s meeting with the finance, electricity ministers tops front pages                        <\/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\/07\/11\/el-sisis-meeting-with-the-finance-electricity-ministers-tops-front-pages\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" 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Sisi\u2019s meeting with the finance, electricity ministers tops front pages&url=https:\/\/enterpriseam.com\/egypt\/2019\/07\/11\/el-sisis-meeting-with-the-finance-electricity-ministers-tops-front-pages\/\">\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\/07\/11\/el-sisis-meeting-with-the-finance-electricity-ministers-tops-front-pages\/&title=El Sisi\u2019s meeting with the finance, electricity ministers tops front pages\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=El+Sisi%E2%80%99s+meeting+with+the+finance%2C+electricity+ministers+tops+front+pages+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2019%2F07%2F11%2Fel-sisis-meeting-with-the-finance-electricity-ministers-tops-front-pages%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\/07\/11\/el-sisis-meeting-with-the-finance-electricity-ministers-tops-front-pages\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-596931\" class=\"content-area-description single-story post-596931 post type-post status-publish format-standard hentry category-on-the-front-pages tag-electricity tag-energy tag-enterpriseam tag-on-the-front-pages wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><b>President Abdel Fattah El Sisi\u2019s meeting with the electricity and finance ministers<\/b> to discuss improving electricity services sits at the top of state-owned <a href=\"https:\/\/www.pressreader.com\/egypt\/al-akhbar\">Al Akhbar<\/a>\u2019s front page. Ittihadiya was out with <a href=\"https:\/\/www.facebook.com\/Egy.Pres.Spokesman\/\">a statement<\/a> following the meeting.<\/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\/electricity\/\">electricity<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/energy\/\">energy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/on-the-front-pages\/\">On The Front Pages<\/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=\"596932\" 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=\"596932\">\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\/07\/11\/saudi-arabia-signs-egp-125-mn-worth-grants-to-support-smes-in-egypt\/\">\r\n                            Saudi Arabia signs EGP 125 mn-worth grants to support SMEs in Egypt                        <\/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\/07\/11\/saudi-arabia-signs-egp-125-mn-worth-grants-to-support-smes-in-egypt\/\" 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\/07\/11\/saudi-arabia-signs-egp-125-mn-worth-grants-to-support-smes-in-egypt\/')\">\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\/07\/11\/saudi-arabia-signs-egp-125-mn-worth-grants-to-support-smes-in-egypt\/\">\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=Saudi Arabia signs EGP 125 mn-worth grants to support SMEs in Egypt&url=https:\/\/enterpriseam.com\/egypt\/2019\/07\/11\/saudi-arabia-signs-egp-125-mn-worth-grants-to-support-smes-in-egypt\/\">\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\/07\/11\/saudi-arabia-signs-egp-125-mn-worth-grants-to-support-smes-in-egypt\/&title=Saudi Arabia signs EGP 125 mn-worth grants to support SMEs in Egypt\">\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=Saudi+Arabia+signs+EGP+125+mn-worth+grants+to+support+SMEs+in+Egypt+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2019%2F07%2F11%2Fsaudi-arabia-signs-egp-125-mn-worth-grants-to-support-smes-in-egypt%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\/07\/11\/saudi-arabia-signs-egp-125-mn-worth-grants-to-support-smes-in-egypt\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-596932\" class=\"content-area-description single-story post-596932 post type-post status-publish format-standard hentry category-diplomacy-foreign-trade tag-diplomacy tag-diplomacy-foreign-trade tag-efg-hermes-leasing tag-enterpriseam tag-finance tag-global-lease tag-saudi-arabia wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><b>Saudi Arabia signs EGP 125 mn-worth agreements to support SMEs in Egypt:<\/b> The Saudi Arabia Development Fund signed three agreements worth EGP 125 mn to provide funding to SMEs through local microfinance firms EFG Hermes Leasing, Global Lease and UI Finance, the Investment Ministry <a href=\"http:\/\/www.miic.gov.eg\/Arabic\/MediaCenter\/News\/Pages\/-%D9%85%D8%B5%D8%B1-%D9%88%D8%A7%D9%84%D8%B3%D8%B9%D9%88%D8%AF%D9%8A%D8%A9-%D8%AA%D9%88%D9%82%D8%B9%D8%A7%D9%86-3-%D8%A7%D8%AA%D9%81%D8%A7%D9%82%D9%8A%D8%A7%D8%AA-%D9%84%D8%AA%D9%82%D8%AF%D9%8A%D9%85-%D8%AE%D8%AF%D9%85%D8%A7%D8%AA-%D8%A7%D9%84%D8%AA%D8%A3%D8%AC%D9%8A%D8%B1-%D8%A7%D9%84%D8%AA%D9%85%D9%88%D9%8A%D9%84%D9%89-%D9%84%D9%84%D9%85%D8%B4%D8%B1%D9%88%D8%B9%D8%A7%D8%AA-%D8%A7%D9%84%D8%B5%D8%BA%D9%8A%D8%B1%D8%A9-%D9%88%D8%A7%D9%84%D9%85%D8%AA%D9%88%D8%B3%D8%B7%D8%A9-%D8%A8%D9%82%D9%8A%D9%85%D8%A9-125-%D9%85%D9%84%D9%8A%D9%88%D9%86-%D8%AC%D9%86%D9%8A%D9%87.aspx\">said in a statement<\/a>. The first agreement entails granting EGP 75 mn in funding to EFG Hermes under the condition it allocates 50% of the amount to the agriculture and livestock sector. The two other agreements entail granting Global Lease and UI Finance EGP 25 mn each to use them to support SMEs in the renewable energy, health, industrial, agriculture and livestock sectors in southern and Delta governorates.<\/p>\n<p><b>In other news from the kingdom: Egyptian exporters will now be required to use biodegradable plastic starting April 2020: <\/b>Saudi regulators will begin in April 2020 requiring Egyptian exporters to package goods bound for the Saudi market using biodegradable plastic, head of Chamber Of Chemical Industries\u2019 plastic division Khaled Abou El Makarem said, <a href=\"https:\/\/www.shorouknews.com\/news\/view.aspx?cdate=10072019&id=afa6f3ea-fc79-49f0-9d01-bedb7ed0c774\">according to Al Shorouk<\/a>. Egyptian factories will have to bear the added cost of up to 4% to add the 'd2w' additive to the plastic.<\/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\/efg-hermes-leasing\/\">EFG Hermes Leasing<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/finance\/\">Finance<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/global-lease\/\">Global Lease<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/saudi-arabia\/\">Saudi Arabia<\/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=\"596933\" 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=\"596933\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">8<\/div>\r\n\r\n                    <p class=\"f-graphik\">Real Estate + Housing<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2019\/07\/11\/demand-for-cairo-office-space-increases-in-1h2019\/\">\r\n                            Demand for Cairo office space increases in 1H2019                        <\/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\/07\/11\/demand-for-cairo-office-space-increases-in-1h2019\/\" 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\/07\/11\/demand-for-cairo-office-space-increases-in-1h2019\/')\">\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\/07\/11\/demand-for-cairo-office-space-increases-in-1h2019\/\">\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=Demand for Cairo office space increases in 1H2019&url=https:\/\/enterpriseam.com\/egypt\/2019\/07\/11\/demand-for-cairo-office-space-increases-in-1h2019\/\">\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\/07\/11\/demand-for-cairo-office-space-increases-in-1h2019\/&title=Demand for Cairo office space increases in 1H2019\">\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=Demand+for+Cairo+office+space+increases+in+1H2019+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2019%2F07%2F11%2Fdemand-for-cairo-office-space-increases-in-1h2019%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\/07\/11\/demand-for-cairo-office-space-increases-in-1h2019\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-596933\" class=\"content-area-description single-story post-596933 post type-post status-publish format-standard hentry category-real-estate-housing tag-enterpriseam tag-real-estate tag-real-estate-housing tag-savills wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p>Demand for office space in Cairo increased in 1H2019 on the back of improving economic conditions, real estate services provider Savills has said in <a href=\"https:\/\/ent.news\/2019\/7\/753.pdf\">a new report (pdf)<\/a>. The research, which analyzes the office market in the Greater Cairo area, found that Grade A developments in New Cairo and Sheikh Zayed have attracted the most interest so far in 2019. New market entrants were limited, with demand being driven mainly by businesses in the tech, banking, pharma, and media sectors with existing offices.<\/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\/real-estate\/\">real estate<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/real-estate-housing\/\">Real Estate + Housing<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/savills\/\">Savills<\/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=\"596934\" 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=\"596934\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">9<\/div>\r\n\r\n                    <p class=\"f-graphik\">Automotive + Transportation<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2019\/07\/11\/egypt-offers-discounts-up-to-45-on-vessels-passing-through-suez-canal\/\">\r\n                            Egypt offers discounts up to 45% on vessels passing through Suez Canal                        <\/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\/07\/11\/egypt-offers-discounts-up-to-45-on-vessels-passing-through-suez-canal\/\" 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\/07\/11\/egypt-offers-discounts-up-to-45-on-vessels-passing-through-suez-canal\/')\">\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\/07\/11\/egypt-offers-discounts-up-to-45-on-vessels-passing-through-suez-canal\/\">\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 offers discounts up to 45% on vessels passing through Suez Canal&url=https:\/\/enterpriseam.com\/egypt\/2019\/07\/11\/egypt-offers-discounts-up-to-45-on-vessels-passing-through-suez-canal\/\">\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\/07\/11\/egypt-offers-discounts-up-to-45-on-vessels-passing-through-suez-canal\/&title=Egypt offers discounts up to 45% on vessels passing through Suez Canal\">\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+offers+discounts+up+to+45%25+on+vessels+passing+through+Suez+Canal+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2019%2F07%2F11%2Fegypt-offers-discounts-up-to-45-on-vessels-passing-through-suez-canal%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\/07\/11\/egypt-offers-discounts-up-to-45-on-vessels-passing-through-suez-canal\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-596934\" class=\"content-area-description single-story post-596934 post type-post status-publish format-standard hentry category-automotive-transportation tag-automotive-transportation tag-enterpriseam tag-suez-canal wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p>Cargo carriers traveling through the Suez Canal and docking at an Egyptian port will be granted discounts of up to 45% on navigation aid and lighthouse fees, according to a <a href=\"https:\/\/www.facebook.com\/MinistryTransportation\/posts\/1348977061925950\">Transport Ministry statement<\/a>. The Suez Canal Authority has regularly been offering discounts to vessels passing through the canal in a bid to attract more traffic.<\/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\/automotive-transportation\/\">Automotive + Transportation<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/suez-canal\/\">Suez Canal<\/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=\"596935\" 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=\"596935\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">10<\/div>\r\n\r\n                    <p class=\"f-graphik\">Other Business News of Note<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2019\/07\/11\/madbouly-el-molla-holds-talk-with-bechtel-chairman-on-egypt-cooperation\/\">\r\n                            Madbouly, El Molla holds talk with Bechtel chairman on Egypt cooperation                        <\/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\/07\/11\/madbouly-el-molla-holds-talk-with-bechtel-chairman-on-egypt-cooperation\/\" 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\/07\/11\/madbouly-el-molla-holds-talk-with-bechtel-chairman-on-egypt-cooperation\/')\">\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\/07\/11\/madbouly-el-molla-holds-talk-with-bechtel-chairman-on-egypt-cooperation\/\">\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=Madbouly, El Molla holds talk with Bechtel chairman on Egypt cooperation&url=https:\/\/enterpriseam.com\/egypt\/2019\/07\/11\/madbouly-el-molla-holds-talk-with-bechtel-chairman-on-egypt-cooperation\/\">\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\/07\/11\/madbouly-el-molla-holds-talk-with-bechtel-chairman-on-egypt-cooperation\/&title=Madbouly, El Molla holds talk with Bechtel chairman on Egypt cooperation\">\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=Madbouly%2C+El+Molla+holds+talk+with+Bechtel+chairman+on+Egypt+cooperation+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2019%2F07%2F11%2Fmadbouly-el-molla-holds-talk-with-bechtel-chairman-on-egypt-cooperation%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\/07\/11\/madbouly-el-molla-holds-talk-with-bechtel-chairman-on-egypt-cooperation\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-596935\" class=\"content-area-description single-story post-596935 post type-post status-publish format-standard hentry category-other-business-news-of-note tag-construction tag-enterpriseam tag-other-business-news-of-note wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p>Prime Minister Moustafa Madbouly and Oil Minister Tarek El Molla held talks yesterday with the chairman of Virginia-based construction outfit Bechtel Corporation, Brendan Bechtel, <a href=\"http:\/\/www.cabinet.gov.eg\/Arabic\/MediaCenter\/CabinetNews\/Pages\/%D8%B1%D8%A6%D9%8A%D8%B3-%D8%A7%D9%84%D9%88%D8%B2%D8%B1%D8%A7%D8%A1-%D9%8A%D9%84%D8%AA%D9%82%D9%89-%D8%B1%D8%A6%D9%8A%D8%B3-%D9%85%D8%AC%D9%84%D8%B3-%D8%A5%D8%AF%D8%A7%D8%B1%D8%A9-%D8%B4%D8%B1%D9%83%D8%A9-%D8%A8%D9%83%D8%AA%D9%84-%D8%A7%D9%84%D8%B9%D8%A7%D9%84%D9%85%D9%8A%D8%A9%E2%80%8E.aspx\">according to a Cabinet statement<\/a>. The company is looking to increase its investments in Egypt, Bechtel told Madbouly, who pointed to seawater desalination projects as a potential area of cooperation.<\/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\/construction\/\">construction<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/other-business-news-of-note\/\">Other Business News of Note<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"596936\" 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=\"596936\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">11<\/div>\r\n\r\n                    <p class=\"f-graphik\">My Morning Routine<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2019\/07\/11\/my-morning-routine-haitham-mohamed-chief-executive-officer-at-ora-developers\/\">\r\n                            My Morning Routine: Haitham Mohamed, chief executive officer at ORA Developers                        <\/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\/07\/11\/my-morning-routine-haitham-mohamed-chief-executive-officer-at-ora-developers\/\" 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\/07\/11\/my-morning-routine-haitham-mohamed-chief-executive-officer-at-ora-developers\/')\">\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\/07\/11\/my-morning-routine-haitham-mohamed-chief-executive-officer-at-ora-developers\/\">\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=My Morning Routine: Haitham Mohamed, chief executive officer at ORA Developers&url=https:\/\/enterpriseam.com\/egypt\/2019\/07\/11\/my-morning-routine-haitham-mohamed-chief-executive-officer-at-ora-developers\/\">\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\/07\/11\/my-morning-routine-haitham-mohamed-chief-executive-officer-at-ora-developers\/&title=My Morning Routine: Haitham Mohamed, chief executive officer at ORA Developers\">\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=My+Morning+Routine%3A+Haitham+Mohamed%2C+chief+executive+officer+at+ORA+Developers+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2019%2F07%2F11%2Fmy-morning-routine-haitham-mohamed-chief-executive-officer-at-ora-developers%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\/07\/11\/my-morning-routine-haitham-mohamed-chief-executive-officer-at-ora-developers\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2019\/7\/988.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"596937\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2019\/07\/11\/my-morning-routine-haitham-mohamed-chief-executive-officer-at-ora-developers\/988-jpg-8\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2019\/7\/988.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"988.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2019\/7\/988.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2019\/7\/988.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-596936\" class=\"content-area-description single-story post-596936 post type-post status-publish format-standard has-post-thumbnail hentry category-my-morning-routine tag-enterpriseam tag-haitham-mohamed tag-my-morning-routine tag-orascom-construction 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-07\"><\/a> <b>Haitham Mohamed, chief executive officer at <\/b><a href=\"https:\/\/oradevelopers.com\/\"><b>ORA Developers<\/b><\/a><b>: <\/b>My Morning Routine looks each week at how a successful member of the community starts their day \u2014 and then throws in a couple of random business questions just for fun. Speaking to us this week is Haitham Mohamed (<a href=\"https:\/\/eg.linkedin.com\/in\/haitham-mohamed-633713\">LinkedIn<\/a>), chief executive officer at ORA Developers, which is a leading real estate developer in different locations \u2014 prime, new, and emerging \u2014 around the world.<\/p>\n<p><b>I\u2019m Haitham Mohamed and I\u2019m the chief executive officer at ORA.<\/b> I started my career in the telecommunication industry, working with <a href=\"http:\/\/otmt.com\/en-us\/home.aspx\">Orascom Telecom<\/a> for 11 years. I was part of the team that started our operations in 17 different countries across Europe, Asia, and the Middle East. In 2011, I made a career shift to real estate, initially working with <a href=\"https:\/\/sodic.com\/\">SODIC<\/a>, then moving to Amer Group. Finally, I joined ORA, where our aim is to create developments that are designed to be both beautiful and environmentally sustainable.<\/p>\n<p><b>As CEO, it\u2019s my job to make sure that our day-to-day operations are aligned with our values<\/b>, which are driven by customer need. A lot of my focus is on technical operations and marketing, as well as hiring everywhere you can imagine. We have our daily sales targets, and of course we also devote a lot of time to product design and market research, determining how we will market our products to customers. It\u2019s a very comprehensive role.<\/p>\n<p><b>I start my day at 8 am, when I leave for the office. <\/b>My commute takes me half an hour, and as soon as I arrive I go to Starbucks to grab my coffee and return to the office. A lot of my job revolves around meetings and daily management tasks, as these are crucial to achieving long-term strategic goals. My first meeting of the day is with the marketing team, to hear updates and see what is planned for the coming period. Then I sit with the technical team to review our latest designs and the products being developed. After that, I sit with the business planning and development team, and we look at numbers and budgeting. I also spend at least an hour every day with our sales team to address whatever challenges they are facing.<\/p>\n<p><b>Currently the market is very tough and we need to have a very clear sense of what our customers need,<\/b> so we can develop a product that satisfies this need. I will often conduct interviews for new hires, and then my working day usually ends around 7-8 pm. After this I go home and spend the evening with my family: My wife, and our 12-year-old son and 10-year-old daughter.<\/p>\n<p><b>One of the major focal points in my life is my son\u2019s football training. <\/b>He plays for Zamalek and has just been awarded the prize of best young player in Egypt in 2019. He\u2019s also currently the top scorer in the Egyptian Youth League. My hobby is watching him play and attending his training sessions. He usually trains three days a week in the early evening, and has a match every Friday. So on Fridays we all wake up at 7 am and go to watch him play, before going for lunch as a family.<\/p>\n<p><b>I hope my son will be the next Mohamed Salah. <\/b>When he was 10 and he told me that he wanted to be a football player, I asked him whether he was prepared to make sacrifices. I told him he would be training while his friends were playing <a href=\"https:\/\/en.wikipedia.org\/wiki\/Fortnite\">Fortnite<\/a> and going to the beach. To be properly trained, you have to start aged 10. You will have to dedicate a huge part of your life to thinking about your career, from a young age. It\u2019s a lot of responsibility and stress for a young person. He travels to Paris St Germain and Monaco during his vacation periods for trials. So we\u2019re developing a new company in Egypt and I\u2019m developing my boy in the field of football. All my efforts are going into entrepreneurial endeavors.<\/p>\n<p><b>This year\u2019s Afcon is one of the best things I\u2019ve seen recently.<\/b> I feel the whole tournament has been amazing, and I\u2019m very impressed with the organization. But I\u2019m not really sure why people are treating Egypt\u2019s loss to South Africa as such a great shock. This is the reality of football: You won\u2019t win every match.<\/p>\n<p><b>If we want our football to improve, we have to change our approach.<\/b> Youth are the future, and we are currently not focusing on them the way they are in France, Italy, Spain, and Germany. If you look at the Egyptian team that <a href=\"https:\/\/en.wikipedia.org\/wiki\/Africa_Cup_of_Nations#2000s:_Egypt's_unprecedented_treble\">won Afcon for three consecutive years<\/a>, you\u2019ll see that these players had been winning tournaments since they were 17 years old. We need to invest in developing the pipeline of good players.<\/p>\n<p><b>ORA was the brainchild of Naguib Sawiris<\/b>, who had started working on a business plan he had for new developments in Grenada, Pakistan, and one for Cyprus. He particularly wanted to target unique locations, to do something out-of-the-ordinary and bring something new to the market. We were looking for a new brand, and the best name we found was ORA. It comes from the idea of giving birth, and for us this was a new baby. We launched in Cyprus in 2016, Pakistan in 2017, Grenada in 2018, and Egypt in 2019.<\/p>\n<p><b>At ORA, we really target the best locations, which automatically become the most expensive places for development. <\/b>In Cyprus we are part of Ayia Napa Marina, and in Pakistan our location is in one of the most luxurious places in Islamabad. In Grenada, we\u2019ve built one of the most expensive and high-end real estate developments in the world. In Egypt, we selected the last piece of land in Sheikh Zayed, overlooking about 65 acres, to build on. What we try to do is to combine luxury with affordability. We\u2019re offering a new version of luxury, developing something very high-end but affordable.<\/p>\n<p><b>I believe customers have become more discerning. <\/b>They understand the market better than they did several years ago, and they have really shifted their focus from the brand to the product. After the devaluation, customer needs really changed. In the past, people were very focused on buying villas, but now they see that if they buy a villa they also need to complete all its finishing, which is often actually more expensive than the villa itself. Then they have to take care of their running costs too. Now they are much more focused on buying apartments, which is one reason why we are committed to offering quality apartments of different sizes, depending on the exact needs of different families. Customers are becoming more sophisticated, and if they don\u2019t find what they\u2019re looking for in a high-end brand, they will look for it in a different brand.<\/p>\n<p><b>How to find the right land is arguably the most important consideration for anyone working in real estate and development.<\/b> Land is very expensive nowadays and it has a huge impact on the industry. This is why a lot of developers are looking into co-development agreements, which is exactly what we have done with the government for our project in Sheikh Zayed. Land is becoming more and more scarce, and this means the price of land will keep increasing.<\/p>\n<p><b>The best piece of business advice I\u2019ve ever been given is simply to listen.<\/b> You need to listen to the perspectives of anyone with a relevant viewpoint in any given situation \u2014 juniors, your sales and marketing teams, your boss, your customers \u2014 anyone whose opinion has a bearing on the issue. See the full picture and then make your decision.<\/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\/haitham-mohamed\/\">Haitham Mohamed<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/my-morning-routine\/\">MY MORNING ROUTINE<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/orascom-construction\/\">Orascom Construction<\/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=\"596938\" 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=\"596938\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">12<\/div>\r\n\r\n                    <p class=\"f-graphik\">The Market Yesterday<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2019\/07\/11\/the-market-yesterday-328\/\">\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\/07\/11\/the-market-yesterday-328\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); 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CIB, the index heaviest constituent ended up 0.1%. EGX30\u2019s top performing constituents were Sarwa Capital Holding up 2.6%, Oriental Weavers up 0.7%, and CIRA up 0.6%. Yesterday\u2019s worst performing stocks were Ezz Steel down 5.8%, Egyptian Iron & Steel down 3.5% and Orascom Investment Holding down 3.2%. The market turnover was EGP 537 mn, and local investors were the sole net buyers.<\/p>\n<p><b>Foreigners<\/b>: Net Short | EGP -11.7 mn<\/p>\n<p> <b>Regional<\/b>: Net Short | EGP -40.4 mn<\/p>\n<p> <b>Domestic<\/b>: Net Long | EGP +52.0 mn<\/p>\n<p><b>Retail<\/b>: 57.2% of total trades | 65.8% of buyers | 48.6% of sellers<\/p>\n<p> <b>Institutions<\/b>: 42.8% of total trades | 34.2% of buyers | 51.4% of sellers<\/p>\n<p><b>WTI:<\/b> USD 60.41 (-0.03%)<\/p>\n<p> <b>Brent:<\/b> USD 67.01 (+4.44%)<\/p>\n<p><b>Natural Gas<\/b> (Nymex, futures prices) USD 2.45 MMBtu, (+0.20%, Aug 2019 contract)<\/p>\n<p> <b>Gold:<\/b> USD 1,421.50 \/ troy ounce (+0.64%)<\/p>\n<\/p>\n<p><b>TASI:<\/b> 8,905.57 (+0.58%) (YTD: +13.78%)<\/p>\n<p> <b>ADX:<\/b> 5,026.75 (+0.09%) (YTD: +2.27%)<\/p>\n<p> <b>DFM:<\/b> 2,687.23 (+1.17%) (YTD: +6.23%)<\/p>\n<p> <b>KSE Premier Market:<\/b> 6,767.34 (+0.61%)<\/p>\n<p> <b>QE:<\/b> 10,551.21 (+0.48%) (YTD: +2.45%)<\/p>\n<p> <b>MSM:<\/b> 3,812.99 (-0.29%) (YTD: -11.81%)<\/p>\n<p> <b>BB: <\/b>1,539.91 (+0.10%) (YTD: +15.15%)<\/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=\"596939\" 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\/07\/11\/596939\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-596939\" class=\"content-area-description single-story post-596939 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>July: Customs officials from Egypt and the US will sit down to discuss \u201c<a href=\"https:\/\/www.shorouknews.com\/news\/view.aspx?cdate=13042019&id=cfde9b1a-02c8-4a68-9157-558560dedc3a\">procedural and administrative matters<\/a>\u201d as part of the <a href=\"https:\/\/ustr.gov\/sites\/default\/files\/U.S.%20-%20Egypt%20TIFA.pdf\">Trade and Investment Framework Agreements (TIFA)<\/a>.<\/p>\n<p>July: The National Railway Authority will launch a tender for the purchase of 100 new locomotives expected to be financed through <a href=\"https:\/\/almalnews.com\/%D8%A7%D9%84%D8%B3%D9%83%D8%A9-%D8%A7%D9%84%D8%AD%D8%AF%D9%8A%D8%AF-%D8%AA%D9%88%D9%82%D8%B9-%D8%A7%D9%84%D8%B9%D9%82%D9%88%D8%AF-%D8%A7%D9%84%D8%AA%D9%85%D9%88%D9%8A%D9%84%D9%8A%D8%A9-%D9%84%D8%B4\/\">an agreement<\/a> with the European Bank for Reconstruction and Development (EBRD).<\/p>\n<p>11 July (Thursday): Central Bank of Egypt\u2019s Monetary Policy Committee will meet to review interest rates.<\/p>\n<p>11 July (Thursday): The House of Representatives will <a href=\"http:\/\/english.ahram.org.eg\/NewsContent\/1\/64\/337537\/Egypt\/Politics-\/Egypt-parliament-postpones-summer-recess-till-Thur.aspx\">end its current legislative session<\/a> and adjourn for summer recess.<\/p>\n<p>13-14 July (Saturday-Sunday): The <a href=\"https:\/\/aegypten.ahk.de\/en\/events\/event-details\/the-8th-mediterranean-tourism-event-in-alexandria\/\">Mediterranean Tourism Forum<\/a>, Alexandria, Egypt.<\/p>\n<p>14-18 July (Sunday-Thursday: The government is expected to announce the details of the new export subsidies framework.<\/p>\n<p>17 July (Wednesday): Harvard Business School <a href=\"http:\/\/enterprise.press\/wp-content\/uploads\/2019\/07\/HBS-780px.jpg\">alumni reception and admissions presentation<\/a>, Falak Startups-The Greek Campus, Cairo.<\/p>\n<p>19-21 July (Friday-Sunday): <a href=\"http:\/\/ledmiddleeast-expo.com\/\">LED Middle East Expo<\/a>, Egypt International Exhibition Center, Nasr City, Cairo.<\/p>\n<p>21 July (Sunday): Amer Group and Antaradous Touristic Development will face off in court over a 2014 dispute brought by the Syria-based company for a fallout in their partnership to develop the Porto Tartous tourist resort. The date was postponed from 23 June.<\/p>\n<p>23 July (Tuesday): 23 July revolution anniversary, national holiday.<\/p>\n<p>28 July-02 August (Sunday-Friday): <a href=\"https:\/\/fab15.fabevent.org\/index.html\">Fab15 Conference and Graduation Ceremony<\/a>, TU Berlin, El Gouna, Egypt.<\/p>\n<p>29 July (Monday): An administrative court <a href=\"https:\/\/almalnews.com\/%D9%85%D8%AC%D9%84%D8%B3-%D8%A7%D9%84%D8%AF%D9%88%D9%84%D8%A9-%D9%8A%D8%A4%D8%AC%D9%84-%D9%86%D8%B8%D8%B1-%D8%AF%D8%B9%D9%88%D9%89-%D8%A7%D9%84%D8%B1%D9%82%D8%A7%D8%A8%D8%A9-%D8%A7%D9%84%D9%85\/\">will look into<\/a> charges brought by the Financial Regulatory Authority (FRA) against Raya Holding founder Medhat Khalil in connection to a mandatory tender offer forced on him by the FRA.<\/p>\n<p>30-31 July (Tuesday-Wednesday): US Federal Open Market Committee will hold its two-day policy meeting to review the interest rate.<\/p>\n<p>August: Meetings of the Egyptian-Belarussian Committee for trade, economic, scientific and technical cooperation, Minsk.<\/p>\n<p>August: The National Railway Authority is <a href=\"https:\/\/almalnews.com\/%D8%A7%D9%84%D8%B3%D9%83%D8%A9-%D8%A7%D9%84%D8%AD%D8%AF%D9%8A%D8%AF-%D8%AA%D9%88%D9%82%D8%B9-%D8%A7%D9%84%D8%B9%D9%82%D9%88%D8%AF-%D8%A7%D9%84%D8%AA%D9%85%D9%88%D9%8A%D9%84%D9%8A%D8%A9-%D9%84%D8%B4\/\">expected to sign<\/a> a 15-year maintenance agreement for 1,300 railcars it had agreed to purchase from Russia\u2019s Transmashholding under a EGP 22 bn contract.<\/p>\n<p>03-04 August (Saturday-Sunday): <a href=\"https:\/\/fab15.fabevent.org\/index.html\">Fab15 Festival, Tours, and Conference Closing<\/a>, Greek Campus, Cairo.<\/p>\n<p>7-11 August (Wednesday-Sunday): Eid El Adha (TBC).<\/p>\n<p>22 August (Thursday): Central Bank of Egypt\u2019s Monetary Policy Committee will meet to review interest rates.<\/p>\n<p>28-30 August (Wednesday-Friday): <a href=\"https:\/\/ticad7.city.yokohama.lg.jp\/about\/en\/\">Tokyo International Conference on African Development<\/a> (TICAD), Yokohama, Japan.<\/p>\n<p>29 August (Thursday): Islamic New Year (TBC), national holiday.<\/p>\n<p>September: Cairo will host an Egypt-Hungary business forum, according to a <a href=\"https:\/\/ent.news\/2019\/6\/390.pdf\">Trade Ministry statement (pdf)<\/a><\/p>\n<p>2-4 September (Monday-Wednesday): <a href=\"https:\/\/www.thebig5constructegypt.com\/\">The Big 5 Construct Egypt<\/a>, Egypt International Exhibition Center, Nasr City, Cairo.<\/p>\n<p>03-04 September (Tuesday-Wednesday): <a href=\"https:\/\/www.ssonetwork.com\/events-sharedservicesegypt\">Shared Services and Outsourcing Forum Middle East<\/a>, Nile Ritz Carlton, Cairo.<\/p>\n<p>8-11 September (Sunday-Wednesday): <a href=\"https:\/\/www.saharaexpo.com\/en\/home.html\">Sahara Expo<\/a>, Egypt International Exhibition Center, Nasr City, Cairo.<\/p>\n<p>9-12 September (Monday-Thursday): The<a href=\"https:\/\/9londonconference.efghermes.com\/pages\/home.aspx\">9th Annual EFG Hermes London Conference<\/a>, Arsenal Emirates Stadium, London.<\/p>\n<p>15 September (Sunday): Elections to the board of the Financial Regulatory Authority\u2019s Capital Markets Federation will be held, <a href=\"https:\/\/almalnews.com\/%d8%a7%d9%86%d8%aa%d8%ae%d8%a7%d8%a8-%d8%a3%d9%88%d9%84-%d9%85%d8%ac%d9%84%d8%b3-%d8%a5%d8%af%d8%a7%d8%b1%d8%a9-%d9%84%d8%a7%d8%aa%d8%ad%d8%a7%d8%af-%d8%b3%d9%88%d9%82-%d8%a7%d9%84%d9%85%d8%a7%d9%84-1\/\">according to Al Mal<\/a>.<\/p>\n<p>17-18 September (Tuesday-Wednesday): US Federal Open Market Committee will hold its two-day policy meeting to review the interest rate.<\/p>\n<p>18 September (Wednesday): <a href=\"https:\/\/ecommsummit.co\/\">E-Commerce Summit 2019<\/a>, Nile Ritz Carlton, Cairo.<\/p>\n<p>21 September (Saturday): Cairo\u2019s streets get really, really crowded as students at the nation\u2019s public schools go back to class.<\/p>\n<p>26 September (Thursday): Central Bank of Egypt\u2019s monetary policy committee will meet to review interest rates.<\/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>6 October (Sunday): Armed Forces Day, national holiday.<\/p>\n<p>10-13 October (Tuesday-Sunday): <a href=\"http:\/\/biwarabia.com\/en\/\">Big Industrial Week Arabia 2019<\/a>, Egypt International Exhibition Center, Nasr City, 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 October-1 November (Wednesday-Friday): CIB PSA Women\u2019s World Championship, Great Pyramid of Giza, Cairo.<\/p>\n<p>24 October (Thursday): <a href=\"http:\/\/en.kremlin.ru\/events\/president\/news\/60592\">Russia-Africa Summit<\/a> to take place in Sochi, co-chaired by Vladimir Putin and President Abdel Fattah El Sisi.<\/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>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>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>9 November (Saturday): Prophet Mohammed's birthday, national holiday.<\/p>\n<p>10-14 November (Sunday-Thursday): <a href=\"https:\/\/geomeast.org\/\">GeoMEast International Congress and Exhibition<\/a>, Marriott, Cairo.<\/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>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>3-6 December (Tuesday-Friday): <a href=\"http:\/\/www.cairowoodshow.com\/\">Cairo WoodShow<\/a>, Egypt International Exhibition Center, Nasr City, Cairo.<\/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>26 December (Thursday): Central Bank of Egypt\u2019s monetary policy committee will meet to review interest rates.<\/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 (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>25-26 March (Wednesday-Thursday): <a href=\"http:\/\/www.megaprojectsconf.com\/\">Mega Projects Conference<\/a>, Egypt International Exhibition Center, Nasr City, Cairo.<\/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":596909,"menu_order":0,"template":"","categories":[],"tags":[],"class_list":["post-596908","issue","type-issue","status-publish","has-post-thumbnail","hentry","wpautop","entry"],"acf":{"mongo_id":"e1ae954e-4638-44e9-9913-68eea1afd0ec","teaser":"","photo_url":"https:\/\/ent.news\/2017\/8\/326.jpg"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - 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