{"id":598947,"date":"2019-06-13T04:00:00","date_gmt":"2019-06-13T04:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/?post_type=issue&#038;p=598947"},"modified":"2025-12-16T20:44:46","modified_gmt":"2025-12-16T20:44:46","slug":"how-low-do-interest-rates-have-to-go-before-big-business-borrows-to-fund-capex-heres-what-you-had-to-say","status":"publish","type":"issue","link":"https:\/\/enterpriseam.com\/egypt\/issues\/how-low-do-interest-rates-have-to-go-before-big-business-borrows-to-fund-capex-heres-what-you-had-to-say\/","title":{"rendered":"How low do interest rates have to go before Big Business borrows to fund capex? Here\u2019s what you had to say."},"content":{"rendered":"<section id=\"598949\" 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=\"598949\">\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\/06\/13\/what-were-tracking-on-13-june-2019\/\">\r\n                            What we\u2019re tracking on 13 June 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 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       <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-598949\" class=\"content-area-description single-story post-598949 post type-post status-publish format-standard has-post-thumbnail hentry category-what-were-tracking-today tag-enterpriseam tag-inflation tag-interest-rates tag-shuaa-capital tag-tarek-amer tag-what-were-tracking-today wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<aside>\t\t\t<div\r\n\t\t\t\t\t\t\t\tclass=\"newspack-popup-container newspack-popup hidden  newspack-inline-popup  newspack-lightbox-no-border   \"\r\n\t\t\t\trole=\"button\"\r\n\t\t\t\ttabindex=\"0\"\r\n\t\t\t\tstyle=\"background-color:#FFFFFF;color:#000\"\r\n\t\t\t\tid=\"id_27645\"\r\n\t\t\t\tdata-segments=\"\"\r\n\t\t\t\tdata-frequency=\"0,0,0,month\"\r\n\t\t\t>\r\n\t\t\t\t\n<div class=\"wp-block-group has-light-gray-background-color has-background\" style=\"padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px\"><div class=\"wp-block-group__inner-container is-layout-constrained wp-container-core-group-is-layout-ef38739e wp-block-group-is-layout-constrained\">\n<div class=\"wp-block-group is-content-justification-center is-nowrap is-layout-flex wp-container-core-group-is-layout-94bc23d7 wp-block-group-is-layout-flex\">\n<p class=\"f-graphik\" style=\"font-size:14px\">Together with<\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full\"><img decoding=\"async\" src=\"https:\/\/s3.amazonaws.com\/resources.inktankir.com\/internal\/27482.svg\" alt=\"\" class=\"wp-image-27482\"\/><\/figure>\n<\/div><\/div>\n<\/div><\/div>\n\t\t\t<\/div>\r\n\t\t<\/aside>\n<p><b>Monday\u2019s inflation figures are still receiving attention as we prepare to slide into the weekend.<\/b> Shuaa\u2019s Asset Management Portfolio Manager Aarthi Chandrasekaran <a href=\"https:\/\/www.bloomberg.com\/news\/videos\/2019-06-12\/kuwait-stocks-backed-by-fundamentals-shuaa-capital-video\">tells Bloomberg TV<\/a> that the spike in annual headline inflation to 14.1% in May will not have come as a surprise to the central bank, adding that the figures will accelerate further in the coming months due to the planned cuts to fuel and electricity subsidies.<\/p><p><b>Do we have to wait until inflation falls to 10% for further monetary easing?<\/b> Chandrasekaran predicts that the central bank will hold off on further rate cuts over the next two months. We can expect easing to resume when inflation falls to around 10%, she says.<\/p><p><b>How far do interest rates have to fall before businesses go on a capex spending binge?<\/b> That\u2019s the question we posed to nine of Egypt\u2019s leading companies in the food, healthcare, construction, automotive, and financial sectors. Find out what they told us in this morning\u2019s Speed Round below.<\/p><hr class=\"grey-line\"><p><b>It looks like we\u2019ll have to wait at least another week before we have the final FY2019-2020 budget: <\/b>The House of Representatives\u2019 general assembly is off next week and will reconvene the following week to tie up any loose ends and vote on the budget, which is expected to be the last item on the agenda before representatives depart for the three-month summer recess (we can\u2019t help but feel that we\u2019re in the wrong line of work). Look for plenty of committee-level news next week.<\/p><p><b>Among the events you may want to mark on your calendars<\/b> before you head off for your own summer breaks:<\/p><ul>\n<li>Our friends at Pharos are holding their <a href=\"http:\/\/enterprise.press\/wp-content\/uploads\/2019\/06\/2019Annual-Investor-Conference_PRL_ENG_Final.pdf\"><b>annual investor conference<\/b> (pdf)<\/a> in Hurghada this month from 19-20 June;<\/li>\n<li>President Abdel Fattah El Sisi is expected to attend <a href=\"https:\/\/cca.eventbank.com\/event\/u-s-africa-business-summit-2019-11813\/\"><b>US-Africa Business summit<\/b><\/a>in Mozambique, which runs from 18-21 June;<\/li>\n<li>Middle East and Africa <b>Rail Show<\/b> will take place at the Egypt International Exhibition Center, Nasr City on 16-18 June;<\/li>\n<li><a href=\"https:\/\/www.terrapinn.com\/exhibition\/seamless-north-africa\/index.stm\"><b>Seamless North Africa<\/b><\/a> will be held at the Nile Ritz-Carlton on 17-18 June;<\/li>\n<li><a href=\"http:\/\/platforms-root-technologies.com\/ctw\/\"><b>Cairo Technology Week<\/b><\/a> will run next week at the Hilton Heliopolis on 17-19 June.<\/li>\n<\/ul><p class=\"web-image\"><a href=\"https:\/\/www.ft.com\/content\/ad11f624-8b8c-11e9-a1c1-51bf8f989972\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2019\/6\/928.jpg?ssl=1\"><\/a><\/p><p><a class=\"content-anchor\" id=\"tldr-story-07\"><\/a><b> A reality check for EM enthusiasts? <\/b>EM growth this century has been dominated by China and India, and the last five years have actually seen more growth in developed markets than in most emerging economies, <a href=\"https:\/\/www.ft.com\/content\/ad11f624-8b8c-11e9-a1c1-51bf8f989972\">the FT suggests<\/a>. An analysis of IMF data by the salmon-colored paper appears to undermine the fundamental EM investment proposition (that they are the source of growth premium and high returns) while the US-China trade war may have exposed a pressing need for a new EM growth model.<\/p><p><b>SIGN OF THE TIMES-<\/b> Global FDI flows contracted for the third consecutive year in 2018, falling to their lowest levels since the 2008 financial crisis, <a href=\"https:\/\/unctad.org\/en\/pages\/newsdetails.aspx?OriginalVersionID=2118\">according to a UN report<\/a>. We\u2019ll be breaking this down for the macro junkies in Sunday\u2019s issue, but until then the <a href=\"https:\/\/www.ft.com\/content\/c5fbb9fa-893d-11e9-a028-86cea8523dc2\">FT<\/a> has you covered.<\/p><p><b>It\u2019s not like we needed another reminder<\/b>, but IMF chief Christine Lagarde and European Central Bank President Mario Draghi are warning that the protectionist trend is posing a threat to the global economy. (<a href=\"https:\/\/www.cnbc.com\/2019\/06\/12\/lagarde-and-draghi-warn-about-trade-war.html\">CNBC<\/a>)<\/p><p class=\"web-image\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2019\/6\/362.jpg?ssl=1\"><\/p><p><b>Thousands of protesters have amassed in Hong Kong <\/b>as they demand the government drop bill that would allow extradition to mainland China. Protest organizers said that over 1 mn people took to the streets on Sunday, although official estimates are around 240,000. Protests turned into open clashes with police, who fired tear gas and rubber bullets, Tuesday night and during the day yesterday. Workers and small business owners <a href=\"https:\/\/www.reuters.com\/article\/us-hongkong-extradition-strikes\/hong-kong-shops-workers-in-rare-strike-to-defend-freedom-idUSKCN1TD0TG\">joined a strike yesterday<\/a> in opposition to the extradition bill. Officials <a href=\"https:\/\/www.reuters.com\/article\/us-hongkong-extradition\/uneasy-calm-in-hong-kong-after-day-of-violence-over-extradition-bill-idUSKCN1TD2BL\">shut<\/a> \u201cgovernment offices in the city\u2019s financial district for the rest of the week\u201d today after the protests. The BBC has good coverage <a href=\"https:\/\/www.bbc.com\/news\/world-asia-china-48618484\">here<\/a> and <a href=\"https:\/\/www.bbc.com\/news\/world-asia-china-48615161\">here<\/a>.<\/p><p><b>The Hang Seng fell 2% yesterday<\/b> as the protests added to the growing list of problems (read: the US-China trade war, a weakening yuan, a spike in the interbank rate) weighing down the Asian market. (<a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2019-06-12\/hong-kong-protests-lengthen-list-of-worries-for-stock-traders\">Bloomberg<\/a>)<\/p><p class=\"web-image\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2019\/6\/866.jpg?ssl=1\"><\/p><p>In miscellany this morning:<\/p><p><b>Luc Besson was only three centuries out:<\/b> Melbourne will be the first city outside the US to test the flying taxi-esque UberAir service, which will see \u201celectric vertical take-off\u201d vehicles travelling between \u201cskyports\u201d. Uber plans to commercially launch the futuristic transportation service in 2023. <a href=\"https:\/\/www.theguardian.com\/technology\/2019\/jun\/12\/uber-air-announces-melbourne-as-trial-city-for-flying-taxi-service\">The Guardian has more<\/a>.<\/p><p><b>*** Parents, read this: <\/b>If you\u2019re over the age of 25, your habits are set. You\u2019re either a jerk who makes life miserable for the rest of us forced to share an airline with you. Or you\u2019re one of those forced to suffer through the ill manners and boorish behaviour of the jerks with whom we sahre a metal cylinder in order that we may be hurtled across the earth. Enter the inimitable Tom Nichols, author of <a href=\"https:\/\/www.amazon.com\/Death-Expertise-Campaign-Established-Knowledge\/dp\/0190469412\/\">The Death of Expertise<\/a> (which we\u2019ve previously noted): His <a href=\"https:\/\/thebulwark.com\/the-six-rules-everyone-should-follow-when-flying\/\"><b>Six rules everyone should follow when flying<\/b><\/a> must be taught to our children.<\/p><p>With Airbus and Boeing set to <a href=\"https:\/\/www.wsj.com\/articles\/if-your-future-flights-to-europe-feel-more-cramped-heres-why-11560331803?mod=hp_lead_pos9\">make trans-Atlantic flying infinitely worse than it already is<\/a>, the least those of us who have spawned can do is ensure the next generation is composed of better-behaved air travelers than us.<\/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\/inflation\/\">inflation<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/interest-rates\/\">interest rates<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/shuaa-capital\/\">Shuaa Capital<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/tarek-amer\/\">Tarek Amer<\/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 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   \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">2<\/div>\r\n\r\n                    <p class=\"f-graphik\">Enterprise+: Last Night\u2019s Talk Shows<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2019\/06\/13\/african-corruption-egyptian-building-forums-occupy-talking-heads-last-night\/\">\r\n                            African corruption, Egyptian building forums occupy talking heads last night                        <\/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    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href=\"https:\/\/enterpriseam.com\/egypt\/2019\/06\/13\/african-corruption-egyptian-building-forums-occupy-talking-heads-last-night\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-598952\" class=\"content-area-description single-story post-598952 post type-post status-publish format-standard hentry category-enterprise-last-nights-talk-shows tag-africa tag-construction tag-corruption tag-enterprise-last-nights-talk-shows tag-enterpriseam wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><b>The anti-corruption forum and a construction conference stole the limelight on the nation\u2019s airwaves last night.<\/b><\/p>\n<p><b>Take that, corruption: <\/b>The two-day African Anti-Corruption Forum (AAFC), which kicked off yesterday, got some airtime on Al Hayah Al Youm\u2019s Lobna Assal (<a href=\"https:\/\/www.youtube.com\/watch?v=HzEU-RsqRzo&t=1s\">watch, runtime: 2:28<\/a>). Assal noted President Abdel Fattah El Sisi calls for increased African legislative and judicial cooperation to combat corruption.<\/p>\n<p><b>The upcoming Builders of Egypt conference<\/b>, which is set to kick off on 16 June, received some love from Masaa DMC\u2019s Ramy Radwan, who said the event will introduce Egyptian construction companies to investment prospects in Africa (<a href=\"https:\/\/www.youtube.com\/watch?v=31IVKeTaj2I&t=15s\">watch, runtime: 2:24<\/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\/africa\/\">Africa<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\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\/corruption\/\">Corruption<\/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                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"598953\" 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=\"598953\">\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\/06\/13\/businesses-eager-for-interest-rates-to-return-to-pre-float-levels-to-boost-investment\/\">\r\n                            Businesses eager for interest rates to return to pre-float levels to boost investment                        <\/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\/06\/13\/businesses-eager-for-interest-rates-to-return-to-pre-float-levels-to-boost-investment\/\" 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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Together, those factors mean sky-high interest rates are going to be here a while longer. <a href=\"https:\/\/enterprise.press\/stories\/2019\/05\/20\/when-will-we-see-capex-spending-pick-up\/\">Analysts with whom we spoke last month<\/a> predicted that the next rate cut was unlikely before 4Q2019, and <a href=\"https:\/\/enterprise.press\/stories\/2019\/06\/12\/what-were-tracking-on-12-june-2019\/\">that consensus held this week<\/a>.<\/p>\n<p><b>The issue here is that businesses are borrowing<\/b>, but only short-term money to finance working capital. They\u2019re not taking out larger, long-term loans to finance new production capacity or innovation \u2014 that type of borrowing fell off a cliff when the central bank jacked interest rates to the heavens after the float of the Egyptian pound.<\/p>\n<p><b>Why? <\/b>The central bank\u2019s <a href=\"https:\/\/enterprise.press\/stories\/2019\/05\/26\/egypts-central-bank-keeps-interest-rates-on-hold\/\">overnight deposit and lending rates<\/a> have remained unchanged at 15.75% and 16.75% since February. Those are expensive rates at which to borrow \u2014 meaning, in very basic terms, that your expansion has to generate much higher returns for it to be worthwhile \u2014 instead of just tossing your money in the bank and scooping up the interest.<\/p>\n<p><b>And it\u2019s actually a lot more expensive than that to borrow: <\/b>The average interest rate charged by banks to corporates for facilities backing capital expenditure (capex) is on the order of 20%. Think about it: <b>Credit-card interest rate levels to finance your business\u2019 growth. <\/b><\/p>\n<p><b>So we ask: How low do rates have to go before businesses start borrowing again <\/b>not to finance the day-to-day, but to build something new.<\/p>\n<p><b>Key highlights: <\/b>We polled execs at nine companies in the food, healthcare, automotive, construction and financial sectors. Here are the key takeaways:<\/p>\n<ul>\n<li><b>Interest rates need fall to 10-13%<\/b> range (ie: pre-EGP float levels) for capex spending to pick up; <\/li>\n<li>Some companies need to see a pick-up in consumer demand before increasing spending;<\/li>\n<li>For others, the trigger is about getting their utilization rates up;<\/li>\n<li>Companies borrowing in USD have had an easier time financing additional capex \u2014 the borrowing cost is just so much lower;<\/li>\n<li>Most are ready to invest when rates drop.<\/li>\n<\/ul>\n<p><b>All nine companies we spoke with want to see a lower interest rate environment<\/b> and further monetary easing. Overall, the companies would like to see interest rates fall into the 10-13% band <b>Healthcare companies<\/b> would like to see a 200 bps cut this year, with a long-term interest rates reaching 13%. <b>Auto companies<\/b> meanwhile are eyeing interest rates in the range of 11-13%, and <b>food industry companies<\/b> would prefer rates to fall slightly lower to 10-12%. <b>Investment <\/b>conglomerate Egyptian Kuwait Holding (EKH) would like to see them in the 11-12% range to encourage investment.<\/p>\n<p><b>Food and auto \u2014 they want to grow, but can\u2019t justify the cost as it stands:<\/b> The food and auto companies with whom we spoke need to borrow for expansion, but struggle to justify borrowing in the current high interest rate environment. \u201cThe current high rates eat from earnings and are a financial burden on business. They don't only impact future business, but current operations as well,\u201d says GB Auto Associate Vice President for Investor Relations Andre Valavanis, adding, \u201cAll our capex plans are currently shelved because of the high cost of debt.\u201d<\/p>\n<p><b>The food sector is particularly hamstrung by high interest rates: <\/b>Dairyfoods player Juhayna has significantly reduced its capex spend since the currency float, having <a href=\"http:\/\/juhaynacom-mokannggxlave7h.stackpathdns.com\/app\/uploads\/2018\/01\/JUFO-ER-FY17-E.pdf\">frozen its spending in 2017<\/a>. Snackfood producer Edita, meanwhile, saw its capex outlay fall to EGP 105.2 mn <a href=\"http:\/\/resources.inktankir.com\/efid\/Edita-4Q2018-Earnings-Release-E-FINAL.pdf\">in 2018<\/a> from EGP 361.8 mn <a href=\"http:\/\/resources.inktankir.com\/efid\/Edita-FY2015-ER-FINAL-2.pdf\">in 2015<\/a>. \u201cOur capex cycle before the float reached about EGP 1 bn at one point in time,\u201d said Ahmed Saad, head of investor relations at Juhayna. \u201cFollowing the currency float in 2016 it was at a minimum of EGP 200-250 mn annually, mainly for maintenance.\u201d There\u2019s been a modest rebound since out of necessity, he says: \u201cIt now stands at approximately EGP 400-450 mn.\u201d<\/p>\n<p><b>Lower interest rates will also boost consumer demand: <\/b>For auto and food companies, a lower interest rate environment is also about spurring consumer spending. \u201cBeyond capex,lower rates should also stimulate the economy in terms of consumer demand,\u201d said Edita Investor Relations and Business Development Senior Director Menna Shams El Din. Adds GB Auto\u2019s Valavanis: \u201cIt won\u2019t only be about capex, it will bring down prices [in the automotive industry], which leads to more demand and more investment in expansions whether in sales or manufacturing.\u201d<\/p>\n<p><b>But high rates haven\u2019t deterred health and pharma companies: <\/b>As <a href=\"https:\/\/www.investopedia.com\/terms\/d\/defensivestock.asp\">defensive stocks<\/a> whose businesses are far less impacted by economic downturns than automotive or real estate companies, many Egyptian healthcare and pharma companies have continued to borrow to fund capex spending in the current high interest rate environment. Think about it: When your salary doesn\u2019t go as far because of a high inflation environment, you\u2019re still going to buy heart meds and pay school tuition \u2014 but you\u2019re not as likely to buy your dream car.<\/p>\n<p><b>Against that backdrop: <\/b>Ibnsina Pharma saw capex more than quadruple to EGP 478.9 mn <a href=\"http:\/\/resources.inktankir.com\/isph\/ISP-ER-4Q18-E-Final.pdf\">in 2018<\/a> from EGP 111.3 mn <a href=\"http:\/\/resources.inktankir.com\/isph\/ISP-ER-FY2017-FINAL.pdf\">in 2016<\/a>. Cleopatra Hospitals raised its spending rise to EGP 148.6 mn <a href=\"https:\/\/s3.amazonaws.com\/inktankir2\/cleopatra\/Cleopatra-ER-4Q18-E-FINAL-clean-.pdf\">in 2018<\/a> from EGP 117 mn <a href=\"https:\/\/s3.amazonaws.com\/inktankir2\/cleopatra\/Cleopatra-ER-FY2017.pdf\">in 2017<\/a>. Ibn Sina also benefited from extra liquidity after its <a href=\"https:\/\/enterprise.press\/stories\/2017\/12\/05\/ibnsina-pharma-prices-ipo-at-egp-5-80-per-share-says-institutional-offering-is-more-than-17x-oversubscribed\/\">highly successful IPO in 2017<\/a>.<\/p>\n<p><b>Where you stood before the float also matters:<\/b> Companies that had borrowed prior to or around the time of the float of the EGP back in 2016 (yes, it\u2019s been more than 2.5 years\u2026) locked-in favorable interest rates. \u201cFortunately, we had invested over the past years and built our fifth factory. We have already reduced our EGP debt exposure in light of its high cost,\u201d said Edita\u2019s Shams El Din. \u201cWe are currently working on USD financing for our Morocco investments and to add some more production lines,\u201d she added.<\/p>\n<p><b>Companies with USD revenue streams have had fewer worries about the cost of borrowing. <\/b>\u201cInvestments with USD revenue streams are operating on USD debt, while projects whose revenues are in EGP are executed over multiple phases to reduce the cost,\u201d said EKH\u2019s Investor Relations Director Haitham Abdel Moneim. \u201cWe are planning to invest around USD 180 mn in 2019, including USD 110 mn at our natural gas operations, where revenues are covered in USD. It is the same case for electricity projects in which we plan to invest USD 25 mn with a 60:40 debt-to-equity ratio,\u201d he added.<\/p>\n<p><b>Some are still waiting for utilization rates recover and even get close to the red line before borrowing again: <\/b>\u201cOur current focus is to do the necessary capex to maintain equipment and secure our market position,\u201d said Juhayna\u2019s Saad. \u201cWe are also focused on utilizing current capacities before investing in adding new ones,\u201d he added. \u201cIn 2020, when we expect to see higher utilization rates, we would have a clear picture of the best expansion routes.\u201d<\/p>\n<p><b>Where would our poll-takers deploy new financing if interest rates were to come down?<\/b><\/p>\n<ul>\n<li><b>Abou Ghaly Motors:<\/b> \u201c[Low interest rates] will allow us to expand investments, speed up expansions and increase profits,\u201d said Tamer Kotb, the company\u2019s commercial director, said. \u201cIt will allow us to expand by increasing branches and expand the car hiring business by buying more cars \u2014 and we\u2019ll be able to generate new demand then by lowering rental prices.\u201d<\/li>\n<li><b>GB Auto:<\/b> \u201cOnce rates are reasonable, we want to spend between EGP 400-500 mn on service centers, not to mention other expansions and investments that will open up in this new environment,\u201d Valavanis said.<\/li>\n<li><b>EKH:<\/b> \u201cIf [for example] we get the sense that there is a direction for easing, we could speed up our investment in the new EGP 2 bn medium-density fiberboard factory,\u201d said Abdel Moneim.<\/li>\n<li><b>Juhayna:<\/b> \u201cCutting rates will allow us to think broader than our current pipelines and look at different investment openings for growth and It will allow us more financial flexibility,\u201d Saad told us.<\/li>\n<li><b>Ibnsina: <\/b>It\u2019s more about the short term in a cash-intensive business that\u2019s already built out its infrastructure: \u201cIf rates fall substantially, this will allow us to use bank facilities to fund cash purchases from suppliers and get cash discounts,\u201d the company\u2019s investor relations manager, Mohamed Shawky, said. \u201cThis should improve our margins and will give us financial flexibility.\u201d <\/li>\n<\/ul>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/abou-ghaly-motors\/\">Abou Ghaly Motors<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/cleopatra-hospitals-group\/\">Cleopatra Hospitals Group<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/egypt-kuwait-holding\/\">Egypt Kuwait Holding<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/gb-auto\/\">GB Auto<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/ibnsina-pharma\/\">Ibnsina Pharma<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/interest-rates\/\">interest rates<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/juhayna\/\">Juhayna<\/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=\"598965\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"598966\" 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=\"598966\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">4<\/div>\r\n\r\n                    <p class=\"f-graphik\">EGYPT IN THE NEWS<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2019\/06\/13\/egypt-in-the-news-on-13-june-2019\/\">\r\n                            Egypt in the News on 13 June 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\/06\/13\/egypt-in-the-news-on-13-june-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\/06\/13\/egypt-in-the-news-on-13-june-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\/06\/13\/egypt-in-the-news-on-13-june-2019\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=Egypt in the News on 13 June 2019&url=https:\/\/enterpriseam.com\/egypt\/2019\/06\/13\/egypt-in-the-news-on-13-june-2019\/\">\n                    X                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/twitter-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/shareArticle?mini=true&url=https:\/\/enterpriseam.com\/egypt\/2019\/06\/13\/egypt-in-the-news-on-13-june-2019\/&title=Egypt in the News on 13 June 2019\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=Egypt+in+the+News+on+13+June+2019+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2019%2F06%2F13%2Fegypt-in-the-news-on-13-june-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\/06\/13\/egypt-in-the-news-on-13-june-2019\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-598966\" class=\"content-area-description single-story post-598966 post type-post status-publish format-standard hentry category-egypt-in-the-news tag-egypt-in-the-news tag-enterpriseam tag-judiciary tag-law tag-terrorism tag-transport wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><b>Leading the conversation about Egypt in the foreign press this morning:<\/b> <a href=\"https:\/\/www.nytimes.com\/aponline\/2019\/06\/12\/world\/middleeast\/ap-ml-egypt-court.html?searchResultPosition=2\">The Associated Press<\/a> reports that a court has handed out jail terms to 296 people on terror charges. The majority (264) were given sentences ranging between three and 15 years, while 32 were sentenced to life after plotting to assassinate the president. <a href=\"http:\/\/deezer.com\/en\/profile\/1631926962\/loved\">Asharq Al Awsat<\/a> also picked up the story.<\/p>\n<p>Other headlines worth a moment of your time:<\/p>\n<ul>\n<li><b>A road accident in Helwan:<\/b> A multi-vehicle accident in Helwan yesterday resulted in 14 fatalities and 10 injuries, according to the <b><a href=\"https:\/\/www.nytimes.com\/aponline\/2019\/06\/12\/world\/middleeast\/ap-ml-egypt-crash.html?searchResultPosition=6\">AP<\/a><\/b>.<\/li>\n<li><b>Egypt\u2019s self-appointed morality cop has a new target:<\/b> Samir Sabry, the lawyer who has made a name for himself going after Egypt\u2019s most high-profile sinners, is turning his attention to Egypt\u2019s community of wealthy Syrians, <b><a href=\"https:\/\/www.thenational.ae\/world\/mena\/an-egyptian-lawyer-who-chases-those-disloyal-to-cairo-has-a-new-target-wealthy-syrians-1.873722\">The National reports<\/a><\/b>.<\/li>\n<\/ul>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/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\/judiciary\/\">judiciary<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/law\/\">law<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/terrorism\/\">terrorism<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/transport\/\">transport<\/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=\"598967\" 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=\"598967\">\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\">ON THE FRONT PAGES<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2019\/06\/13\/el-sisis-statements-during-the-african-anti-corruption-forum-topped-egypts-state-owned-press\/\">\r\n                            El Sisi\u2019s statements during the African Anti-Corruption Forum topped Egypt\u2019s state-owned press                        <\/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\/06\/13\/el-sisis-statements-during-the-african-anti-corruption-forum-topped-egypts-state-owned-press\/\" 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\/06\/13\/el-sisis-statements-during-the-african-anti-corruption-forum-topped-egypts-state-owned-press\/')\">\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\/06\/13\/el-sisis-statements-during-the-african-anti-corruption-forum-topped-egypts-state-owned-press\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=El Sisi\u2019s statements during the African Anti-Corruption Forum topped Egypt\u2019s state-owned press&url=https:\/\/enterpriseam.com\/egypt\/2019\/06\/13\/el-sisis-statements-during-the-african-anti-corruption-forum-topped-egypts-state-owned-press\/\">\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\/06\/13\/el-sisis-statements-during-the-african-anti-corruption-forum-topped-egypts-state-owned-press\/&title=El Sisi\u2019s statements during the African Anti-Corruption Forum topped Egypt\u2019s state-owned press\">\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+statements+during+the+African+Anti-Corruption+Forum+topped+Egypt%E2%80%99s+state-owned+press+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2019%2F06%2F13%2Fel-sisis-statements-during-the-african-anti-corruption-forum-topped-egypts-state-owned-press%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\/06\/13\/el-sisis-statements-during-the-african-anti-corruption-forum-topped-egypts-state-owned-press\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-598967\" class=\"content-area-description single-story post-598967 post type-post status-publish format-standard hentry category-on-the-front-pages tag-africa tag-corruption 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 statements during the African Anti-Corruption Forum,<\/b> which kicked off yesterday in Sharm El Sheikh, topped the front pages of all three government dailies this morning (<a href=\"http:\/\/www.ahram.org.eg\/Index.aspx\">Al Ahram<\/a> | <a href=\"https:\/\/www.pressreader.com\/egypt\/al-akhbar\">Al Akhbar<\/a> | <a href=\"http:\/\/www.algomhuria.net.eg\/algomhuria\/today\/pdf-big\/\">Al Gomhuria<\/a>). The two-day event will wrap up later today.<\/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\/corruption\/\">Corruption<\/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=\"598968\" 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=\"598968\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">6<\/div>\r\n\r\n                    <p class=\"f-graphik\">Worth watching<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2019\/06\/13\/red-bull-has-sold-the-world-way-more-energy-drinks-than-it-needs\/\">\r\n                            Red Bull has sold the world (way) more energy drinks than it needs                        <\/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\/06\/13\/red-bull-has-sold-the-world-way-more-energy-drinks-than-it-needs\/\" 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\/06\/13\/red-bull-has-sold-the-world-way-more-energy-drinks-than-it-needs\/')\">\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\/06\/13\/red-bull-has-sold-the-world-way-more-energy-drinks-than-it-needs\/\">\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=Red Bull has sold the world (way) more energy drinks than it needs&url=https:\/\/enterpriseam.com\/egypt\/2019\/06\/13\/red-bull-has-sold-the-world-way-more-energy-drinks-than-it-needs\/\">\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\/06\/13\/red-bull-has-sold-the-world-way-more-energy-drinks-than-it-needs\/&title=Red Bull has sold the world (way) more energy drinks than it needs\">\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=Red+Bull+has+sold+the+world+%28way%29+more+energy+drinks+than+it+needs+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2019%2F06%2F13%2Fred-bull-has-sold-the-world-way-more-energy-drinks-than-it-needs%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\/06\/13\/red-bull-has-sold-the-world-way-more-energy-drinks-than-it-needs\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2019\/6\/619.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"598969\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2019\/06\/13\/red-bull-has-sold-the-world-way-more-energy-drinks-than-it-needs\/619-jpg-6\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2019\/6\/619.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"619.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2019\/6\/619.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2019\/6\/619.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-598968\" class=\"content-area-description single-story post-598968 post type-post status-publish format-standard has-post-thumbnail hentry category-worth-watching tag-enterpriseam tag-worth-watching wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><b>Red Bull has sold the world (way) more energy drinks than it needs<\/b>. But there\u2019s much more to the company\u2019s story than meets the eye, as this Bloomberg video explains (<a href=\"https:\/\/www.bloomberg.com\/news\/videos\/2019-06-12\/how-red-bull-got-the-world-hooked-on-energy-drinks-video-jwt77wh6\">watch, runtime: 5:54<\/a>). The company\u2019s mysterious founder, Austrian entrepreneur Dietrich Mateschitz, made sure that its tagline (Red Bull gives you wings) communicated a very specific message. It promises to make your life more adventurous, more thrill-seeking. And it reinforces this through wild, big-budget marketing campaigns (such as Felix Baumgartner\u2019s record skydive), the ownership of sports teams, and the creation of globally-recognized extreme sports competitions.<\/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\/worth-watching\/\">worth watching<\/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=\"598970\" 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=\"598970\">\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\/06\/13\/el-sisi-discuss-terrorism-regional-affairs-with-world-jewish-congress-boss\/\">\r\n                            El Sisi discuss terrorism, regional affairs with World Jewish Congress boss                        <\/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\/06\/13\/el-sisi-discuss-terrorism-regional-affairs-with-world-jewish-congress-boss\/\" 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\/06\/13\/el-sisi-discuss-terrorism-regional-affairs-with-world-jewish-congress-boss\/')\">\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\/06\/13\/el-sisi-discuss-terrorism-regional-affairs-with-world-jewish-congress-boss\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=El Sisi discuss terrorism, regional affairs with World Jewish Congress boss&url=https:\/\/enterpriseam.com\/egypt\/2019\/06\/13\/el-sisi-discuss-terrorism-regional-affairs-with-world-jewish-congress-boss\/\">\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\/06\/13\/el-sisi-discuss-terrorism-regional-affairs-with-world-jewish-congress-boss\/&title=El Sisi discuss terrorism, regional affairs with World Jewish Congress boss\">\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+discuss+terrorism%2C+regional+affairs+with+World+Jewish+Congress+boss+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2019%2F06%2F13%2Fel-sisi-discuss-terrorism-regional-affairs-with-world-jewish-congress-boss%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\/06\/13\/el-sisi-discuss-terrorism-regional-affairs-with-world-jewish-congress-boss\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-598970\" class=\"content-area-description single-story post-598970 post type-post status-publish format-standard hentry category-diplomacy-foreign-trade tag-diplomacy tag-diplomacy-foreign-trade tag-enterpriseam tag-middle-east wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><b>El Sisi discuss terrorism, regional affairs with World Jewish Congress boss:<\/b> President Abdel Fattah El Sisi discussed the Middle Eastern peace process and US-Egypt relations with World Jewish Congress President Ronald Lauder in Cairo on Tuesday, <a href=\"https:\/\/www.facebook.com\/Egy.Pres.Spokesman\/posts\/626783154507735?__xts__%5b0%5d=68.ARDEZnr_OJizmxKJDMKUAKmprOX0SBraCUwnW81h0Uhe9CuDiOLRiOaB2g87rbVUocJiMjHwJzx0WVl28h_-00sDHyDC8P88DXXbgUIXcITY8NzHK1LtdP2SZaPVp_weCRGgCzY9dIGUf6A9bObaq22zWRXWrFPuZESk3Gr8NebdIH3CtgVIcribcAzeO6f2L7YMVCR8ThXF9wrU7StaJo_gzPRPAHH3TSd4Bs7EA1e0YKKcoTJN0uQSa05D8wgDKj2ZbK5jxH_WweLTvdO3rnujRTKF_5Fqf-zEq8LIKHqJcb3YRjOWLXGWf8WaRjoyIUoEy1ZNiaU5yosOAMwRUigjaGWr3GDUD7Bi0Qmp_OJjevS-R7QAJ3v5bKGuOzYR7319zGj6ymnh8b6R0CAIAmXDZlKSKNEae2PIkQ645EBGjXGD4Zexx3sH3cDZvhWtZkRaNxuZPCGBDrPbd0d_qzHLwZ7RF9oVC73qKGiTycvnW6WiC8c&__tn__=-R\">according to an Ittihadiya<\/a>. The story was picked up by <a href=\"http:\/\/www.israelnationalnews.com\/News\/News.aspx\/264468\">Israel National News<\/a>.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/diplomacy\/\">DIPLOMACY<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/diplomacy-foreign-trade\/\">Diplomacy + Foreign Trade<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/middle-east\/\">Middle East<\/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=\"598971\" 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=\"598971\">\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\">Energy<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2019\/06\/13\/siemens-gamesa-frontrunner-to-build-lekelas-250-mw-wind-energy-plant-in-ras-ghareb\/\">\r\n                            Siemens Gamesa frontrunner to build Lekela\u2019s 250 MW wind energy plant in Ras Ghareb                        <\/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\/06\/13\/siemens-gamesa-frontrunner-to-build-lekelas-250-mw-wind-energy-plant-in-ras-ghareb\/\" 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\/06\/13\/siemens-gamesa-frontrunner-to-build-lekelas-250-mw-wind-energy-plant-in-ras-ghareb\/')\">\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\/06\/13\/siemens-gamesa-frontrunner-to-build-lekelas-250-mw-wind-energy-plant-in-ras-ghareb\/\">\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=Siemens Gamesa frontrunner to build Lekela\u2019s 250 MW wind energy plant in Ras Ghareb&url=https:\/\/enterpriseam.com\/egypt\/2019\/06\/13\/siemens-gamesa-frontrunner-to-build-lekelas-250-mw-wind-energy-plant-in-ras-ghareb\/\">\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\/06\/13\/siemens-gamesa-frontrunner-to-build-lekelas-250-mw-wind-energy-plant-in-ras-ghareb\/&title=Siemens Gamesa frontrunner to build Lekela\u2019s 250 MW wind energy plant in Ras Ghareb\">\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=Siemens+Gamesa+frontrunner+to+build+Lekela%E2%80%99s+250+MW+wind+energy+plant+in+Ras+Ghareb+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2019%2F06%2F13%2Fsiemens-gamesa-frontrunner-to-build-lekelas-250-mw-wind-energy-plant-in-ras-ghareb%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\/06\/13\/siemens-gamesa-frontrunner-to-build-lekelas-250-mw-wind-energy-plant-in-ras-ghareb\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-598971\" class=\"content-area-description single-story post-598971 post type-post status-publish format-standard hentry category-energy tag-energy tag-enterpriseam tag-lekela-power tag-renewable-energy tag-renewables tag-siemens-gamesa wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p>Siemens Gamesa is the frontrunner in a tender to build Lekela\u2019s 250 MW wind energy plant in Ras Ghareb, sources close to the matter <a href=\"https:\/\/www.alborsaanews.com\/2019\/06\/12\/1212178\">told the local press<\/a>. Siemens Gamesa\u2019s offer is better than offers submitted by Germany\u2019s Senvion and Denmark\u2019s Vestas, the sources said, adding that contracts are expected to be signed within the next two months. Lekela is expected to reach financial close for the project in August for Siemens to begin construction next year, the sources said. Siemens Gamesa is expected to partner up with either Elsewedy Electric or Orascom Construction to build the project. Three European banks have agreed to lend Lekla USD 245 mn for the project, which will be built under the build-own-operate (BOO) framework.<\/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\/energy\/\">energy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/lekela-power\/\">Lekela Power<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/renewable-energy\/\">renewable energy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/renewables\/\">renewables<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/siemens-gamesa\/\">Siemens Gamesa<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"598973\" 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=\"598973\">\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\">Infrastructure<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2019\/06\/13\/denmarks-a-p-moller-capital-eyes-investing-in-egypts-10th-of-ramadan-dry-port\/\">\r\n                            Denmark\u2019s A.P. M\u00f8ller Capital eyes investing in Egypt\u2019s 10th of Ramadan dry port                        <\/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\/06\/13\/denmarks-a-p-moller-capital-eyes-investing-in-egypts-10th-of-ramadan-dry-port\/\" 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\/06\/13\/denmarks-a-p-moller-capital-eyes-investing-in-egypts-10th-of-ramadan-dry-port\/')\">\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\/06\/13\/denmarks-a-p-moller-capital-eyes-investing-in-egypts-10th-of-ramadan-dry-port\/\">\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=Denmark\u2019s A.P. M\u00f8ller Capital eyes investing in Egypt\u2019s 10th of Ramadan dry port&url=https:\/\/enterpriseam.com\/egypt\/2019\/06\/13\/denmarks-a-p-moller-capital-eyes-investing-in-egypts-10th-of-ramadan-dry-port\/\">\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\/06\/13\/denmarks-a-p-moller-capital-eyes-investing-in-egypts-10th-of-ramadan-dry-port\/&title=Denmark\u2019s A.P. M\u00f8ller Capital eyes investing in Egypt\u2019s 10th of Ramadan dry port\">\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=Denmark%E2%80%99s+A.P.+M%C3%B8ller+Capital+eyes+investing+in+Egypt%E2%80%99s+10th+of+Ramadan+dry+port+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2019%2F06%2F13%2Fdenmarks-a-p-moller-capital-eyes-investing-in-egypts-10th-of-ramadan-dry-port%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\/06\/13\/denmarks-a-p-moller-capital-eyes-investing-in-egypts-10th-of-ramadan-dry-port\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-598973\" class=\"content-area-description single-story post-598973 post type-post status-publish format-standard hentry category-infrastructure tag-denmark tag-enterpriseam tag-infrastructure tag-investment-watch tag-logistics tag-maersk wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p>Denmark-based A.P. M\u00f8ller Capital, the investment arm of Maersk, is eyeing investing in the 10th of Ramdan dry port and will launch studies in July, <a href=\"https:\/\/alborsaanews.com\/2019\/06\/12\/1212608\">according to a Transport Ministry statement<\/a>. This came following a meeting between minister Kamel El Wazir and Denmark\u2019s ambassador to Egypt Tomas Anker Christensen. The two discussed cooperation in the logistics sector.<\/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\/denmark\/\">Denmark<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/infrastructure\/\">infrastructure<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/investment-watch\/\">investment watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/logistics\/\">logistics<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/maersk\/\">Maersk<\/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=\"598974\" 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=\"598974\">\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\">My Morning Routine<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2019\/06\/13\/my-morning-routine-rana-badawy-chief-actuary-at-axa-egypt\/\">\r\n                            My Morning Routine: Rana Badawy, chief actuary at AXA 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\/06\/13\/my-morning-routine-rana-badawy-chief-actuary-at-axa-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(); 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Speaking to us this week is Rana Badawy (<a href=\"https:\/\/www.linkedin.com\/in\/rana-badawy-58146429\/\">LinkedIn<\/a>), chief actuary at AXA Egypt, the local arm of the global insurance company.<\/p>\n<p><b>My name is Rana Badawy, and I\u2019m the chief actuary at <\/b><a href=\"https:\/\/www.axa-egypt.com\/en\/\"><b>AXA Egypt<\/b><\/a><b>. <\/b>AXA is a French multinational insurance firm which entered the Egyptian market in 2015, focusing on the non-life insurance and health markets. After two years, it acquired one of the largest life insurers in the market. We cater to both corporations and the retail sector in Egypt.<\/p>\n<p><b>You might ask what on earth the job of chief actuary entails,<\/b> and a common response is to talk about financial models, projections and probabilities \u2014 <a href=\"https:\/\/sse.aucegypt.edu\/programs\/undergraduate\/actuarial-science\">AUC provides a great overview on this.<\/a> But that doesn\u2019t really capture my role. In essence, I get to lead a team of incredibly gifted individuals who dive into data and bring meaning to numbers. It\u2019s our job to provide incisive business intelligence and insights that enable management to act quickly and serve our customers better. And it involves a lot of creativity about how to visualize data and make complex issues understandable to everyone.<\/p>\n<p><b>I would describe myself as the product of many influences and experiences.<\/b> I was educated at German and American institutions and, while this was testing at times, I feel that experiencing two different educational philosophies helped develop both sides of my brain. But I\u2019m Egyptian at my core: born, bred and intending to stay in Om El Donya. I\u2019m very active and, as a former national volleyball player, I get agitated if I don\u2019t break a sweat every couple of days.<\/p>\n<p><b>I have a highly entrepreneurial and extremely supportive family. <\/b>My parents have always tried to use their businesses to benefit society and their family. My brother Yehia is a <a href=\"https:\/\/enterprise.press\/stories\/2018\/10\/17\/what-were-tracking-on-17-october-2019\/\">co-founder of the region\u2019s first fully licensed digital currency exchange<\/a>. So I think entrepreneurship runs in my blood and at some stage I will follow in their footsteps and go it on my own (but not for a while yet).<\/p>\n<p><b>I\u2019m an early riser, waking up without an alarm between 4 and 5am.<\/b> Usually I find at least one of my parents already up, so we get some quality time together before the rush of the day. These golden hours of the morning are my zen time. Creative solutions and new ideas pop into my head and I make sure to write them all down. I catch up on the news (Enterprise, Al Mal, BBC, Guardian, Bloomberg) and have a quick look at my calendar to start mentally preparing for the day. I have a light breakfast and then head to my workout at 7am, in time to be at work at 9am.<\/p>\n<p><b>I\u2019ve just completed two half marathons<\/b>, and am now training to complete my first 70.3-mile triathlon.<\/p>\n<p><b>Being surrounded by business owners, I love watching and reading anything about entrepreneurship.<\/b> So I\u2019ve enjoyed listening to the podcast <a href=\"https:\/\/www.npr.org\/podcasts\/510313\/how-i-built-this\">How I Built This<\/a> and watching <a href=\"https:\/\/abc.go.com\/shows\/shark-tank\/about-the-show\">Shark Tank<\/a>. I recently <a href=\"https:\/\/www.amazon.com\/Nudge-Improving-Decisions-Health-Happiness\/dp\/014311526X\">read the book Nudge<\/a>, which gives valuable insights about human psychology and how people are influenced by their environment. It pushes you to think about how to reach people to bring about positive changes in their behavior.<\/p>\n<p><b>My taste is eclectic when I\u2019m reading purely for enjoyment.<\/b> It\u2019s important to me to read in Arabic because I\u2019m very proud of my Egyptian heritage, and reading old Arabic literature helps remain connected to the language. So I like to read novels by Yusuf El Sibai and Naguib Mahfouz. At the same time, I enjoy contemporary writers including Roald Dahl, Elif Shafak, and Khaled Hosseini. I read in German whenever possible and recently finished reading <a href=\"https:\/\/www.amazon.com\/Perfume-Story-Murderer-Patrick-Suskind\/dp\/0375725849\">the novel Perfume<\/a> in its original language.<\/p>\n<p><b>AXA aims to be a \u201cone stop shop,\u201d<\/b> helping our partners \u2014 individuals and businesses \u2014 to achieve their long term financial goals by providing quality advice. Insurance companies exist to protect people and to pay claims when needed. We want to have a social impact, and I take pride in the fact that we help people get access to quality medical care \u2014 or that we help make sure the recently bereaved don\u2019t fall into poverty. Supporting people suffering through unfortunate events is the core of our business.<\/p>\n<p><b>I see two areas where the insurance industry will grow substantially in the near future.<\/b> Increased financial inclusion will hopefully provide a safety net and more accessibility for people who do not currently have any coverage. So microfinance and microinsurance initiatives, as well as the Universal Healthcare Act, will materially increase insurance penetration and people\u2019s appreciation of its value. Meanwhile, technological developments and an improved understanding of data should allow insurers to make it easier for customers to get coverage. I see real appetite in the industry to simplify processes and reduce a lot of the mystery around insurance. The ability to analyze and better understand customer behavior through data will be a game changer.<\/p>\n<p><b>I do a lot of volunteer work in my spare time, as does my family. <\/b>My mum works in education, and she has dedicated her life to developing the next generation of thinkers and doers. Her family has an orphanage in Upper Egypt, and my dad has a foundation in the Delta, so it runs in my blood to volunteer for social causes. I am a passionate environmentalist \u2014 I\u2019m passionate about a very important initiative called <a href=\"https:\/\/www.facebook.com\/SaveEgyptsWater\/\">Save Egypt\u2019s Water<\/a>.<\/p>\n<p><b>I\u2019m also driven by a desire to explore and learn new things.<\/b> In the past couple of years I\u2019ve learned parachuting, diving, skiing, kite-surfing, in-line skating, interior design, and beadmaking. History, culture, industries and businesses are built around so many different things, so you never know when you can connect the dots in an unconventional way and carry ideas over to apply them to your own situation. For example, Dyson was inspired by looking at the way airplanes work when he invented his bladeless fan (which he called the Air Multiplier).<\/p>\n<p><b>I have two main ways of staying organized: <\/b>Firstly, I try to start every day with a clear and focused vision of what I want to get done. Secondly, I use the <a href=\"https:\/\/francescocirillo.com\/pages\/pomodoro-technique\">Pomodoro Technique<\/a>, where you break your time into chunks of intense, focused work, punctuated by breaks in between.<\/p>\n<p><b>The best piece of business advice I\u2019ve ever been given<\/b> came from my mentor, who shaped the early years of my career in a significant way. It\u2019s simple: If you take care of your people, they will take care of the business.<\/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\/axa-egypt\/\">AXA Egypt<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/my-morning-routine\/\">MY MORNING ROUTINE<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"598976\" 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=\"598976\">\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\">The Market Yesterday<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2019\/06\/13\/the-market-yesterday-368\/\">\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\/06\/13\/the-market-yesterday-368\/\" 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\/06\/13\/the-market-yesterday-368\/')\">\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\/06\/13\/the-market-yesterday-368\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=The Market Yesterday&url=https:\/\/enterpriseam.com\/egypt\/2019\/06\/13\/the-market-yesterday-368\/\">\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\/06\/13\/the-market-yesterday-368\/&title=The Market Yesterday\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=The+Market+Yesterday+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2019%2F06%2F13%2Fthe-market-yesterday-368%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\/06\/13\/the-market-yesterday-368\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-598976\" class=\"content-area-description single-story post-598976 post type-post status-publish format-standard hentry category-the-market-yesterday tag-enterpriseam tag-the-market-yesterday wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><p><b>EGP \/ USD CBE market average: <\/b>Buy 16.69 | Sell 16.79<\/p>\n<p><b>EGP \/ USD at CIB:<\/b> Buy 16.67 | Sell 16.77<\/p>\n<p><b>EGP \/ USD at NBE: <\/b>Buy 16.71 | Sell 16.81<\/p>\n<p><b>EGX30<\/b> (Wednesday): 14,158 (-0.3%)<\/p>\n<p> <b>Turnover:<\/b> EGP 680 mn (12% below the 90-day average)<\/p>\n<p> <b>EGX 30 year-to-date<\/b>: +8.6%<\/p>\n<p><b>THE MARKET ON WEDNESDAY:<\/b> The EGX30 ended Wednesday\u2019s session down 0.3%. CIB, the index heaviest constituent ended up 0.3%. EGX30\u2019s top performing constituents were Madinet Nasr Housing up 3.1%, Heliopolis Housing up 3.1%, and Qalaa Holdings up 1.1%. Yesterday\u2019s worst performing stocks were GB Auto down 3.0%, Orascom Development down 2.4% and Eastern Co down 2.3%. The market turnover was EGP 680 mn, and foreign investors were the sole net sellers.<\/p>\n<p><b>Foreigners<\/b>: Net Short | EGP -52.1 mn<\/p>\n<p> <b>Regional<\/b>: Net Long | EGP +3.7 mn<\/p>\n<p> <b>Domestic<\/b>: Net Long | EGP +48.4 mn<\/p>\n<p><b>Retail<\/b>: 49.2% of total trades | 52.6% of buyers | 45.8% of sellers<\/p>\n<p> <b>Institutions<\/b>: 50.8% of total trades | 47.4% of buyers | 54.2% of sellers<\/p>\n<p><b>WTI:<\/b> USD 51.13 (-0.02%)<\/p>\n<p> <b>Brent:<\/b> USD 59.97 (-3.72%)<\/p>\n<p><b>Natural Gas<\/b> (Nymex, futures prices) USD 2.38 MMBtu, (-0.21%, Jul 2019 contract)<\/p>\n<p> <b>Gold:<\/b> USD 1,337.50 \/ troy ounce (+0.05%)<\/p>\n<\/p>\n<p><b>TASI:<\/b> 9,084.75 (+1.06%) (YTD: +16.07%)<\/p>\n<p> <b>ADX:<\/b> 4,990.86 (+0.50%) (YTD: +1.54%)<\/p>\n<p> <b>DFM:<\/b> 2,663.55 (-0.44%) (YTD: +5.29%)<\/p>\n<p> <b>KSE Premier Market:<\/b> 6,455.50 (-0.63%)<\/p>\n<p> <b>QE:<\/b> 10,621.76 (+0.35%) (YTD: +3.13%)<\/p>\n<p> <b>MSM:<\/b> 3,962.20 (-0.51%) (YTD: -8.36%)<\/p>\n<p> <b>BB: <\/b>1,451.00 (+0.06%) (YTD: +8.51%)<\/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=\"598977\" 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\/06\/13\/598977\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-598977\" class=\"content-area-description single-story post-598977 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>1H2019 (date TBD): Investment Minister Sahar Nasr <a href=\"https:\/\/www.almalnews.com\/Story\/414224\/15\/-%D8%B3%D9%81%D9%8A%D8%B1-%D8%A7%D9%84%D9%85%D9%83%D8%B3%D9%8A%D9%83-%D8%A8%D8%A7%D9%84%D9%82%D8%A7%D9%87%D8%B1%D8%A9--%D9%88%D9%81%D8%AF-%D9%85%D8%B5%D8%B1%D9%89-%D9%81%D9%89-%C2%AB%D9%85%D9%83%D8%B3%D9%8A%D9%83%D9%88-%D8%B3%D9%8A%D8%AA%D9%89%C2%BB-%D9%85%D9%86%D8%AA\">will head a delegation<\/a> of businessmen into Mexico City to explore cooperation avenues with the Latin American country.<\/p>\n<p>June: International Forum for small and medium enterprises (SMEs).<\/p>\n<p>June: Egypt will host the first economic forum for <a href=\"https:\/\/ufmsecretariat.org\/who-we-are\/\">Union for the Mediterranean<\/a> (UfM) countries to <a href=\"http:\/\/enterprise.press\/wp-content\/uploads\/2019\/04\/MIIT-PR-Egypt-med-union-forum.pdf\">promote trade and investment<\/a> in the 43 member states.<\/p>\n<p>June: The Egyptian Businessmen\u2019s Association <a href=\"https:\/\/www.alborsaanews.com\/2019\/05\/21\/1206311\">will host a delegation<\/a> of 20 Saudi real estate companies to explore investment prospects.<\/p>\n<p>12-13 June (Wednesday-Thursday): <a href=\"http:\/\/english.ahram.org.eg\/News\/335754.aspx\">The African Anti-Corruption Forum<\/a> (AACF), Sharm El Sheikh<\/p>\n<p>15 June (Saturday): An administrative court <a href=\"https:\/\/almalnews.com\/%D8%AA%D8%A3%D8%AC%D9%8A%D9%84-%D8%AF%D8%B9%D9%88%D9%89-%D9%88%D9%82%D9%81-%D9%82%D8%B1%D8%A7%D8%B1-%D9%81%D8%B1%D8%B6-%D8%B1%D8%B3%D9%88%D9%85-%D8%B9%D9%84%D9%89-%D8%A7%D9%84%D8%A8%D9%84%D9%8A\/\">will look into<\/a> an appeal by steel manufacturers to cancel the recently-imposed duties on imported steel rebars and pellets.<\/p>\n<p>Mid-June: <a href=\"https:\/\/www.youm7.com\/story\/2019\/6\/10\/%D8%A8%D8%B9%D8%AB%D8%A9-%D8%AA%D8%AC%D8%A7%D8%B1%D9%8A%D8%A9-%D9%85%D8%B5%D8%B1%D9%8A%D8%A9-%D9%84%D8%A7%D8%B3%D8%AA%D9%83%D8%B4%D8%A7%D9%81-%D8%A3%D8%B3%D9%88%D8%A7%D9%82-%D8%A3%D8%B3%D8%AA%D9%88%D9%86%D9%8A%D8%A7-%D9%88%D9%84%D8%A7%D8%AA%D9%81%D9%8A%D8%A7-%D9%88%D8%A7%D9%84%D8%AA%D8%B1%D9%88%D9%8A%D8%AC-%D9%84%D9%84%D8%A7%D8%B3%D8%AA%D8%AB%D9%85%D8%A7%D8%B1\/4280151\">A delegation of Egyptian businessmen<\/a> will head to Estonia and Latvia to explore investment prospects in the two eastern European nations.<\/p>\n<p>16 June (Sunday): <a href=\"https:\/\/buildersofegypt.com\/%D8%A7%D9%84%D8%A7%D8%AC%D9%86%D8%AF%D8%A9-2019\/\">Builders of Egypt Conference<\/a>, Al Masah Hotel, Cairo.<\/p>\n<p>16-18 June (Sunday-Tuesday): Middle East & Africa Rail Show, Egypt International Exhibition Center, Nasr City, Cairo.<\/p>\n<p>17-18 June (Monday-Tuesday): <a href=\"https:\/\/www.terrapinn.com\/exhibition\/seamless-north-africa\/index.stm\">Seamless North Africa<\/a>, Nile Ritz-Carlton, Cairo.<\/p>\n<p>17-19 June (Monday-Wednesday): <a href=\"http:\/\/platforms-root-technologies.com\/ctw\/\">Cairo Technology Week<\/a>, Hilton Heliopolis, Cairo.<\/p>\n<p>18-21 June (Tuesday-Friday): President Abdel Fattah El Sisi to attend <a href=\"https:\/\/cca.eventbank.com\/event\/u-s-africa-business-summit-2019-11813\/\">US-Africa Business summit<\/a> in Mozambique.<\/p>\n<p>18 June (Tuesday): <a href=\"https:\/\/idcciosummit.com\/cairo\/\">IDC CIO Summit<\/a>, Marriott Hotel Zamalek, Cairo.<\/p>\n<p>18-19 June (Tuesday-Wednesday): US Federal Open Market Committee will hold its two-day policy meeting to review the interest rate.<\/p>\n<p>19-20 June (Wednesday-Thursday): <a href=\"https:\/\/www.pharosholding.com\/pharosinvestorconference2019\/#About_the_Conference\">Pharos Holding Annual Investor Conference<\/a>, El Gouna, Egypt.<\/p>\n<p>23 June (Sunday): <a href=\"http:\/\/www.almalnews.com\/Story\/413580\/11\/%D8%AA%D8%A3%D8%AC%D9%8A%D9%84-%D9%86%D8%B8%D8%B1-%D8%AF%D8%B9%D9%88%D9%89-%D8%B6%D8%AF-%D9%85%D8%AC%D9%85%D9%88%D8%B9%D8%AA%D9%8A-%D8%A8%D9%88%D8%B1%D8%AA%D9%88-%D9%88%D8%B9%D8%A7%D9%85%D8%B1-%D8%AC%D8%B1%D9%88%D8%A8-%D8%A5%D9%84%D9%89-23-%D9%8A%D9%88%D9%86%D9%8A\">Cairo Arbitration Court hearing<\/a> for Amer Group vs. Antaradous for Touristic Development.<\/p>\n<p>25-26 June (Tuesday-Wednesday): US-backed conference on the \u2018economic dimension\u2019 of Trump\u2019s Mideast peace plan, Manama, Bahrain.<\/p>\n<p>25-26 June (Tuesday-Wednesday): <a href=\"https:\/\/www.opec.org\/opec_web\/en\/311.htm\">OPEC conference, OPEC and non-OPEC ministerial meeting<\/a>, Vienna, Austria.<\/p>\n<p>28-29 June (Friday-Saturday): <a href=\"https:\/\/www.japan.go.jp\/g20japan\/\">G20 Global Economic Summit<\/a>, Osaka, Japan.<\/p>\n<p>30 June (Sunday): June 2013 protests anniversary, national holiday.<\/p>\n<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>11 July (Thursday): Central Bank of Egypt\u2019s monetary policy committee will meet to review interest rates.<\/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>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>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>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>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 9th Annual EFG Hermes London Conference, Arsenal Emirates Stadium, London.<\/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>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>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>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>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":598948,"menu_order":0,"template":"","categories":[],"tags":[],"class_list":["post-598947","issue","type-issue","status-publish","has-post-thumbnail","hentry","wpautop","entry"],"acf":{"mongo_id":"cb75aca4-aabd-4b8a-bb00-3f2f7d0167b3","teaser":"","photo_url":"https:\/\/ent.news\/2021\/3\/401.jpg"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>How low do interest rates have to go before Big Business borrows to fund capex? 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