{"id":600663,"date":"2019-02-06T03:47:37","date_gmt":"2019-02-06T03:47:37","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/?post_type=issue&#038;p=600663"},"modified":"2025-12-16T21:45:51","modified_gmt":"2025-12-16T21:45:51","slug":"pmi-hits-lowest-level-in-more-than-a-year-plus-finmin-has-tons-of-news-for-you","status":"publish","type":"issue","link":"https:\/\/enterpriseam.com\/egypt\/issues\/pmi-hits-lowest-level-in-more-than-a-year-plus-finmin-has-tons-of-news-for-you\/","title":{"rendered":"PMI hits lowest level in more than a year. Plus: FinMin has tons of news for you"},"content":{"rendered":"<section id=\"600665\" 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=\"600665\">\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\/02\/06\/what-were-tracking-on-6-february-2019\/\">\r\n                            What we\u2019re tracking on 6 February 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\/02\/06\/what-were-tracking-on-6-february-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\/02\/06\/what-were-tracking-on-6-february-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\/02\/06\/what-were-tracking-on-6-february-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=What we\u2019re tracking on 6 February 2019&url=https:\/\/enterpriseam.com\/egypt\/2019\/02\/06\/what-were-tracking-on-6-february-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\/02\/06\/what-were-tracking-on-6-february-2019\/&title=What we\u2019re tracking on 6 February 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=What+we%E2%80%99re+tracking+on+6+February+2019+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2019%2F02%2F06%2Fwhat-were-tracking-on-6-february-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\/02\/06\/what-were-tracking-on-6-february-2019\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-600665\" class=\"content-area-description single-story post-600665 post type-post status-publish format-standard hentry category-what-were-tracking-today tag-enterpriseam 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>** The Enterprise 2019 CEO Week continues today <\/b>as we touch base with some of Egypt\u2019s top CEOs about the questions that will define the coming 12 months across all industries. The conversations replace our industry news roundups, which will return next week.<\/p><p><b>The format:<\/b> Each CEO answered roughly the same set of questions, tailored only for their industry. The interviews have been condensed and edited for clarity and are presented in \u201cas told to\u201d format \u2014 that\u2019s journalism speak for \u201cin their own words.\u201d<\/p><p>Today\u2019s participants are:<\/p><ul>\n<li><b>F. John Matouk<\/b>, founding partner, Matouk Bassiouny<\/li>\n<li><b>Basel El Hini<\/b>, chairman and managing director, Misr Insurance Holding Company<\/li>\n<\/ul><p>So far this week, we have heard from:<\/p><ul>\n<li><a href=\"https:\/\/enterprise.press\/stories\/2019\/02\/03\/osama-bishai-ceo-orascom-construction\/\">Osama Bishai<\/a> (CEO, Orascom Construction)<\/li>\n<li><a href=\"https:\/\/enterprise.press\/stories\/2019\/02\/03\/dr-hend-el-sherbini-ceo-idh\/\">Hend El Sherbini<\/a> (CEO, IDH)<\/li>\n<li><a href=\"https:\/\/enterprise.press\/stories\/2019\/02\/04\/amr-allam-co-ceo-hassan-allam-holding\/\">Amr Allam<\/a> (Co-CEO, Hassan Allam Holding)<\/li>\n<li><a href=\"https:\/\/enterprise.press\/stories\/2019\/02\/04\/mohamed-el-kalla-ceo-cira\/\">Mohamed El Kalla<\/a> (CEO, CIRA)<\/li>\n<li><a href=\"https:\/\/enterprise.press\/stories\/2019\/02\/05\/riad-armanious-chief-executive-officer-eva-pharma\/\">Riad Armanious<\/a> (CEO, EvaPharma)<\/li>\n<li><a href=\"https:\/\/enterprise.press\/stories\/2019\/02\/05\/elwy-taymour-co-founder-group-chairman-and-ceo-pharos-holding\/\">Elwy Taymour<\/a> (Chairman and CEO, Pharos)<\/li>\n<\/ul><p><b>President Abdel Fattah El Sisi is on a national listening tour<\/b> as he held yesterday the second in a series of occasional meetings with government officials and members of civil society at the governorate level. El Sisi met in Port Said with the governor as well as other local officials, members of civil society and students. \u201cThe meetings come within the framework of the President's keenness on following up on the implementation of developmental plans and services' programs delivered to the citizens,\u201d <a href=\"https:\/\/ent.news\/2019\/2\/244.pdf\">Ittihadiya said in a statement (pdf)<\/a> after the meeting. El Sisi spoke yesterday about the new national healthcare program (which Port Said will pilot) as well as conservation of national resources, SME financing and job creation. The meetings kicked off in mid-January in Wadi El Gedid.<\/p><p><b>The Donald has picked vocal World Bank critic David Malpass to lead \u2026 the World Bank<\/b>,<a href=\"https:\/\/www.wsj.com\/articles\/world-bank-critic-is-nominee-to-lead-lender-11549338326\">the WSJ reports<\/a>. The US treasury official has been staunch in his criticism of the bank, particularly over its lending to China. The bank\u2019s board has the final call and will begin considering nominations this Thursday. Tradition since the bank was created after the Second World War is that it is headed by an American. The US controls 16% of votes at the World Bank, but the European Union as a bloc holds 26%.<\/p><p><b>Whoever gets the nod, the next head of the bank is going to have to get a grip on emerging markets<\/b>, former World Bank head honcho Robert Zoellick says in <a href=\"https:\/\/www.ft.com\/content\/b6a1d4e6-288d-11e9-9222-7024d72222bc\">an opinion piece for the Financial Times<\/a>. Zoellick says policymakers need to pay more attention to market dynamics in emerging economies or face the consequences. \u201cWhen the next downturn or financial crisis hits, emerging markets are likely to prove even more important than they were a decade ago,\u201d he writes. \u201cThe new World Bank president should help developing countries to prepare now.\u201d<\/p><p><b>Also worth knowing this morning:<\/b><\/p><ul>\n<li><b>A dead(?) cryptobro has taken with him the passwords needed to unlock USD 150 mn in other people\u2019s digital assets.<\/b> The story, broken by Bloomberg, is getting play everywhere from <a href=\"https:\/\/www.coindesk.com\/indian-death-certificate-crypto-exchange-quadrigacx-death\">Coindesk<\/a> to the <a href=\"https:\/\/www.ft.com\/content\/538b8ece-296e-11e9-a5ab-ff8ef2b976c7\">Financial Times<\/a>. <a href=\"https:\/\/www.ccn.com\/quadrigacx-5-suspicious-bitcoin-exchange-missing-crypto\">CCN has a look<\/a> at why the case smells a bit fishy.<\/li>\n<li>The Donald was powering through his <b>state of the union address<\/b> as we were putting the finishing touches on this morning\u2019s edition. Head on over to the <a href=\"http:\/\/www.nytimes.com\">New York Times<\/a> for the latest. <\/li>\n<li><b>Apple\u2019s retail boss is quitting after five years.<\/b> Angela Ahrendts, who went over from Burberry in 2014, said only she that she was going to pursue (new personal and professional pursuits.\u201d The story is getting plenty of ink in the <a href=\"https:\/\/www.wsj.com\/articles\/apple-retail-chief-angela-ahrendts-leaving-company-11549404885?mod=hp_lead_pos3\">WSJ<\/a> and the <a href=\"https:\/\/www.ft.com\/content\/555a0a7e-2990-11e9-a5ab-ff8ef2b976c7\">FT<\/a>.<\/li>\n<\/ul><p><b>It is now the year of the pig in China<\/b> \u2014 the Chinese zodiac sign of the porker represents good fortune and wealth.<\/p><p><b>PSA- Expect more rain this morning and into the afternoon <\/b>after a night that included dust, wind and rain. You can expect a daytime high of 18\u00b0C and an overnight low of 10\u00b0C. The outlook for tomorrow: Sunny with a high of 20\u00b0C.<\/p><p><b>Is there anything better than crisp air in Cairo after a rainstorm? <\/b>Maybe the air in Cairo on a Friday morning after a rainstorm?<\/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\/what-were-tracking-today\/\">What We&#039;re Tracking Today<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"600666\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">      \r\n<section id=\"advertiser\" class=\"enterprise-adv issue-section\">\r\n    <div class=\"issue-section__content\" style=\"flex-direction: column;\">\r\n  \r\n                <h4 class=\"wp-block-heading has-text-align-center has-normal-font-size\">\r\n                <span class=\"has-primary-color stk-highlight\">This publication is proudly sponsored by<\/span><\/h4>\r\n                \r\n\r\n                \r\n                <div class=\"wp-block-stackable-carousel alignwide stk-block-carousel stk--is-slide stk--infinite-scroll stk--arrows-justify-space-between stk--arrows-align-center stk-block stk-a38cfb2 sponsor-slider-container mb-0\" data-slides-to-show=\"3\" data-block-id=\"a38cfb2\"><style>.stk-a38cfb2 {--slides-to-show:3 !important;}.stk-a38cfb2 .stk-block-carousel__button{background:#00000099 !important;fill:#FFFFFF !important;border-radius:4px !important;}.stk-a38cfb2 .stk-block-carousel__button svg.ugb-custom-icon :is(g, path, rect, polygon, ellipse){fill:#FFFFFF !important;}<\/style>\r\n                <div 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data-block-id=\"ags0841\"><div class=\"stk-column-wrapper stk-block-column__content stk-container stk-ags0841-container stk--no-background stk--no-padding\"><div class=\"stk-block-content stk-inner-blocks stk-ags0841-inner-blocks\">\r\n            <div class=\"issue-sponsor-slide\">\r\n                <img data-recalc-dims=\"1\" decoding=\"async\" draggable=\"false\" src=\"https:\/\/i0.wp.com\/ent.news\/internal\/240926.jpg?ssl=1\">\r\n                <div class=\"overlay\"><\/div>\r\n                <div class=\"content\">\r\n                    <a draggable=\"false\" href=\"https:\/\/www.qalaaholdings.com\/\" target=\"_blank\" class=\"logo\" rel=\"noopener\">\r\n                        <img decoding=\"async\" draggable=\"false\" src=\"https:\/\/ent.news\/internal\/110691.svg\" alt=\"\">\r\n                    <\/a>\r\n                    <span>Driving growth<\/span>\r\n                <\/div>\r\n            <\/div>\r\n            <\/div><\/div><\/div>\r\n        <\/div><div 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Night\u2019s Talk Shows<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2019\/02\/06\/egypts-forthcoming-constitutional-amendments-in-the-limelight-again-on-the-airwaves\/\">\r\n                            Egypt\u2019s forthcoming constitutional amendments in the limelight again on the airwaves                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2019\/02\/06\/egypts-forthcoming-constitutional-amendments-in-the-limelight-again-on-the-airwaves\/\" 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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%E2%80%99s+forthcoming+constitutional+amendments+in+the+limelight+again+on+the+airwaves+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2019%2F02%2F06%2Fegypts-forthcoming-constitutional-amendments-in-the-limelight-again-on-the-airwaves%2F\">\n                    WhatsApp                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/whatsapp-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n        <\/ul>\n    <\/div>\n        <\/div>\r\n                    \r\n                <\/div>\r\n\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2019\/02\/06\/egypts-forthcoming-constitutional-amendments-in-the-limelight-again-on-the-airwaves\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-600667\" class=\"content-area-description single-story post-600667 post type-post status-publish format-standard hentry category-enterprise-last-nights-talk-shows tag-abdel-fattah-el-sisi tag-economy 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>Possible constitutional amendments<\/b> were once again in the limelight on last night\u2019s talk shows. We have the full story in Speed Round, below.<\/p>\n<p><b>The House of Representatives will debate the amendments over the coming 60 days<\/b>, Rep. Tarek El Kholy told Al Hayah Al Youm. El Kholy also explained the technicalities of the procedures necessary to pass the amendments (<a href=\"https:\/\/www.youtube.com\/watch?v=-LKI5haMK5g\">watch, runtime: 07:31<\/a>). Citizens have the right to partake in discussions of the amendments, Rep. Ahmed El Sherif told Masaa DMC\u2019s Osama Kamal talked to MP Ahmed El Sherif (<a href=\"https:\/\/www.youtube.com\/watch?v=uyO5gAc_T_c\">watch, runtime: 06:41<\/a>). Yahduth fi Masr\u2019s Sherif Amer also took note of the most recent developments (<a href=\"https:\/\/www.youtube.com\/watch?v=5SodREf4UQo\">watch, runtime: 08:22<\/a>).<\/p>\n<p><b>Finance Minister Mohamed Maait\u2019s presser yesterday on Egypt\u2019s economic situation<\/b> \u2015 which we recap in full in Speed Round, below \u2014 also came up on Al Hayah Al Youm (<a href=\"https:\/\/www.youtube.com\/watch?v=xqPJCnGBgUE\">watch, runtime: 03:25<\/a>). Beltone\u2019s Alia Mamdouh also broke down the significance of certain indicators on Hona Al Asema (<a href=\"https:\/\/www.youtube.com\/watch?v=hUiE-qxMGsk\">watch, runtime: 07:45<\/a>).<\/p>\n<p><b>President Abdel Fattah El Sisi paid a visit to Port Said<\/b>, where some EGP 462 bn worth of projects have been deployed over the past four years, deputy governor Mohamed Hany said on Al Hayah Al Youm (<a href=\"https:\/\/www.youtube.com\/watch?v=wSX5R8oe4f0\">watch, runtime: 04:09<\/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\/abdel-fattah-el-sisi\/\">Abdel Fattah El Sisi<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/economy\/\">economy<\/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=\"600668\" 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=\"600668\">\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\/02\/06\/non-oil-business-activity-hits-lowest-levels-in-more-than-a-year\/\">\r\n                            Non-oil business activity hits lowest levels in more than a year                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2019\/02\/06\/non-oil-business-activity-hits-lowest-levels-in-more-than-a-year\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); navigator.clipboard.writeText('https:\/\/enterpriseam.com\/egypt\/2019\/02\/06\/non-oil-business-activity-hits-lowest-levels-in-more-than-a-year\/')\">\n                    Copy Link                <\/a>\n\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https:\/\/enterpriseam.com\/egypt\/2019\/02\/06\/non-oil-business-activity-hits-lowest-levels-in-more-than-a-year\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=Non-oil business activity hits lowest levels in more than a year&url=https:\/\/enterpriseam.com\/egypt\/2019\/02\/06\/non-oil-business-activity-hits-lowest-levels-in-more-than-a-year\/\">\n                    X                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/twitter-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/shareArticle?mini=true&url=https:\/\/enterpriseam.com\/egypt\/2019\/02\/06\/non-oil-business-activity-hits-lowest-levels-in-more-than-a-year\/&title=Non-oil business activity hits lowest levels in more than a year\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=Non-oil+business+activity+hits+lowest+levels+in+more+than+a+year+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2019%2F02%2F06%2Fnon-oil-business-activity-hits-lowest-levels-in-more-than-a-year%2F\">\n                    WhatsApp                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/whatsapp-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n        <\/ul>\n    <\/div>\n        <\/div>\r\n                    \r\n                <\/div>\r\n\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2019\/02\/06\/non-oil-business-activity-hits-lowest-levels-in-more-than-a-year\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2019\/2\/1121.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"600669\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2019\/02\/06\/non-oil-business-activity-hits-lowest-levels-in-more-than-a-year\/1121-jpg-6\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2019\/2\/1121.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1121.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2019\/2\/1121.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2019\/2\/1121.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-600668\" class=\"content-area-description single-story post-600668 post type-post status-publish format-standard has-post-thumbnail hentry category-speed-round tag-economy tag-enterpriseam tag-pmi tag-speed-round wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><a class=\"content-anchor\" id=\"tldr-story-01\"><\/a> <b>Non-oil business activity hits lowest levels in more than a year: <\/b>The Egypt purchasing managers\u2019 index (PMI) contracted for the fifth consecutive month in January to reach its lowest level since December 2017, according to <a href=\"https:\/\/www.markiteconomics.com\/Public\/Home\/PressRelease\/765db9e9f4a74199ae489229eb8145e2\">Markit \/ Emirates NBD data<\/a>. The index fell to 48.5 last month from 49.6 in December, reversing two months of gradual improvements. \u201cEgypt\u2019s recovery over the past two years has so far largely been driven by external rebalancing and public investment, while the private sector has remained under pressure, in part as a result of the ongoing reforms,\u201d Daniel Richards, MENA economist at Emirates NBD, said.<\/p>\n<p><b>Poor market conditions and bad weather led to the largest decline in output since December 2017<\/b> and the biggest fall in new orders since September. Export orders also fell for the fifth month in a row to reach their lowest levels since September.<\/p>\n<p><b>Falling prices provide relief: <\/b>Weakening inflation caused input prices to fall to their lowest levels in over two years. In turn, businesses also cut their output prices, which for the first time registered a sub-50.0 reading on the index. \u201cThis should contribute to an ongoing decline in CPI inflation, and potentially pave the way for the central bank to begin loosening monetary policy, which would give a much-needed boost to the private sector,\u201d Richards said.<\/p>\n<p><b>And purchasing activity hits 12-month high: <\/b>Non-oil purchasing activity hit highs not seen since January 2017, as stocks declined for the first time since September.<\/p>\n<p><b>It\u2019s a slightly different story in the Gulf: <\/b>Conditions for the non-oil private sector in the Gulf are continuing to improve. <a href=\"https:\/\/www.zawya.com\/mena\/en\/economy\/story\/Saudi_private_sector_growth_surges_to_13month_high_PMI-TR20190205nL9N1QN050X2\/\">Saudi Arabia\u2019s PMI<\/a> rose to a 13-month high (up to 56.2 from 54.5) while <a href=\"https:\/\/www.zawya.com\/mena\/en\/economy\/story\/UAE_private_sector_growth_rises_to_sevenmonth_high_in_January_PMI-TR20190205nL9N1QN051X2\/\">business activity in the UAE<\/a> continued to expand, rising to 56.3 from 54.0.<\/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\/economy\/\">economy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/pmi\/\">PMI<\/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=\"600686\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"600687\" 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=\"600687\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">4<\/div>\r\n\r\n                    <p class=\"f-graphik\">THE ENTERPRISE CEO POLL<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2019\/02\/06\/f-john-matouk-founding-partner-matouk-bassiouny\/\">\r\n                            F. John Matouk \u2014 founding partner, Matouk Bassiouny                        <\/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\/02\/06\/f-john-matouk-founding-partner-matouk-bassiouny\/\" 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\/02\/06\/f-john-matouk-founding-partner-matouk-bassiouny\/')\">\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\/02\/06\/f-john-matouk-founding-partner-matouk-bassiouny\/\">\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=F. John Matouk \u2014 founding partner, Matouk Bassiouny&url=https:\/\/enterpriseam.com\/egypt\/2019\/02\/06\/f-john-matouk-founding-partner-matouk-bassiouny\/\">\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\/02\/06\/f-john-matouk-founding-partner-matouk-bassiouny\/&title=F. John Matouk \u2014 founding partner, Matouk Bassiouny\">\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=F.+John+Matouk+%E2%80%94+founding+partner%2C+Matouk+Bassiouny+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2019%2F02%2F06%2Ff-john-matouk-founding-partner-matouk-bassiouny%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\/02\/06\/f-john-matouk-founding-partner-matouk-bassiouny\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2019\/2\/79.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"600688\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2019\/02\/06\/f-john-matouk-founding-partner-matouk-bassiouny\/79-jpg-19\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2019\/2\/79.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"79.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2019\/2\/79.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2019\/2\/79.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-600687\" class=\"content-area-description single-story post-600687 post type-post status-publish format-standard has-post-thumbnail hentry category-the-enterprise-ceo-poll tag-enterpriseam tag-matouk-bassiouny-hennawy tag-the-enterprise-ceo-poll wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><a class=\"content-anchor\" id=\"tldr-story-09\"><\/a> <b>In barely a dozen years, <\/b><a href=\"https:\/\/matoukbassiouny.com\/the-firm\/\"><b>Matouk Bassiouny<\/b><\/a><b> has grown from a five-lawyer shop into one of the MENA region\u2019s premier law firms <\/b>with offices in Cairo, Dubai and Khartoum.As the firm continues to grow at rapid clip, the question high on the mind of F. John Matouk (<a href=\"https:\/\/www.linkedin.com\/in\/f-john-matouk-152737a\/?originalSubdomain=eg\">LinkedIn<\/a>) is how to preserve culture and \u2018secret sauce\u2019 in a professional services business across multiple countries \u2014 all while contending with more competition in his home market from foreign entrants. If you lead a professional services firm or want to make partner at one, this is the interview for you. Since its founding, Matouk Bassiouny has advised on landmark equity capital market and M&A transactions including EFG Hermes\u2019 EGP 1 bn acquisition of Talaat Moustafa Group\u2019s New Cairo-based portfolio of schools, Amazon\u2019s USD 580 mn acquisition of Souq.com, and Mubadala Petroleum\u2019s acquisition of 10% stake in the Zohr gas field, a transaction valued at USD 934 mn. As one of the firm\u2019s co-founders and as head of the firm\u2019s dispute resolution group, Matouk has a track record of work before major arbitral institutions including the International Centre for the Settlement of Investment Disputes, the International Chamber of Commerce (ICC), and the Cairo Regional Center for International Commercial Arbitration (CRCICA).<\/p>\n<p><b>2018 was the year of regional expansion<\/b>, the year we transformed from being a national law firm to a regional law firm. We opened an office in Dubai and an office in Khartoum. This is the initial phase in our goal of building a regional platform for provision of legal services in MENA.<\/p>\n<p><b>Why MENA? Basically we follow what our clients are looking for.<\/b> There\u2019s a huge demand for professional services in North Africa, including legal services. These markets are difficult to penetrate, but we believe we have the know-how thanks to our experience in Egypt over the past fifteen years. We think we can pretty easily export our know how to these other jurisdictions. The legal systems of most of these other countries are based on Egypt\u2019s, and a significant amount of the lawyers in the region are Egyptian. Also, a lot of local lawyers in each jurisdiction came to Cairo to study, so there\u2019s a natural nexus between Cairo and the region we\u2019re looking to exploit. We also currently have operational country desks \u2014 lawyers in Cairo covering Libya or Algeria \u2014 and eventually we expect these country desks to evolve into full-fledged offices.<\/p>\n<p><b>We\u2019ve also invested in acquiring a regional headquarters in Garden City.<\/b> We bought a building that we are renovating and are hopefully moving in this May.<\/p>\n<p><b>Institutionalization kicking off in 2018 and continuing through to 2019: <\/b>We\u2019ve gone through a major rebranding exercise and also continue to focus on institutionalizing the firm, which becomes increasingly important the more one expands regionally. By institutional backbone, I mean all the elements of a professional service provider that a client does not necessarily see but that are fundamental for providing the service. From structuring partner remuneration to putting in the back office support systems that are necessary for a fully-fledged law firm to work. Keeping everything organized as one grows becomes more challenging if it is not done right. It\u2019ll take us two years to finish phase one. Talent acquisition and retention also always remains our top strategic priority.<\/p>\n<p><b>2019 will be about following up on the regional expansion \u2014 and AI.<\/b> We\u2019re looking to open up in Algeria in H12019. We also are delighted to have a new managing partner starting, Mahmoud Bassiouny \u2014 who also heads the Finance & Projects practice \u2014 took over on 1 January. Mahmoud is really focused on maximizing our value chain \u2014 AI is one thing where we intend to invest significantly in the field to be on the cutting edge of the legal industry. There are some pretty cool, pretty interesting AI program right now for the legal industry that are transforming due diligence, for example. Programs that can do 80-90% of due diligence, bringing down costs for the client and speeding up some processes to a few hours from a few weeks.<\/p>\n<p><b>As a firm, our biggest challenge will be to keep growing while staying true to our roots.<\/b> We started off as a five lawyer firm and now we\u2019re above the 200 lawyers mark regionally. Not losing our secret sauce will be our biggest challenge as we grow and expand into different geographic locations. There will be distance between people and this is a people business, so how do we keep the teamwork and the back and forth of ideas \u2014 over geographic distances? We need to maintain a single, unified culture to be one firm. We need our capital markets team in Dubai to have the same culture as our projects team in Khartoum or as our corporate team in Algeria.<\/p>\n<p><b>The regional play is our biggest opportunity as well as our biggest challenge.<\/b> It\u2019s the flip side that makes it so exciting.<\/p>\n<p><b>On the wider economy, 2019 looks to me like the year of winners and losers.<\/b> This is in terms of what I see our clients doing. I think there\u2019ll be volatility and major opportunity. I see a lot of people going for it right now, which is great to see and exciting to watch. I think some will succeed and some will fail. It\u2019ll be a very interesting year.<\/p>\n<p><b>Compensation structure is crucial in a people industry:<\/b> Again, professional services is all about people and your compensation structure is the driver. Compensation isn\u2019t just financial, it\u2019s also building a sense of ownership and identity, which feeds into a sense of culture and joint identity. We\u2019re committed to making sure that we match compensation to performance, which we measure with objective and hard criteria as well as soft issues. It\u2019s a science, it\u2019s an art. <b>And for the record, we are significantly increasing salaries this year.<\/b><\/p>\n<p><b>Interest rates are not a direct factor for us.<\/b> We have no debt and we\u2019ve never had debt. While it doesn\u2019t affect our own business, it affects our clients. Obviously, we like to see our clients investing in new business, but interest rates have to go down. Once they do, the Egyptian banking sector should pick up which will help our banking and finance practice, who have mostly worked with development finance institutions and international banks in the last couple of years.<\/p>\n<p><b>Inflation has not been a major issue for us, frankly, other than salaries<\/b> which is by far our biggest cost.<\/p>\n<p><b>We have five IPOs in the pipeline. <\/b>They\u2019re all delayed now because of market conditions, which is not surprising. I don\u2019t have any crystal ball on the market conditions.<\/p>\n<p><b>In terms of M&A, we\u2019re currently working on 48-50, which is about 20-25% above average<\/b>, which I guess is substantial. The ticket size of the M&As is not necessarily as big, in both USD and EGP terms.<\/p>\n<p><b>We\u2019re not really seeing any trends in sectors that would be interesting at this stage. <\/b>The M&A activity is opportunistic. There\u2019s just a lot of volatility which is creating opportunity for M&A. Traditionally, M&A has been in defensive sectors like education and healthcare, which is standard, but it\u2019s opening up across the board into other sectors as well. In the projects space, we think 2019 will continue to be a year for Egypt as well as Sudan where the utilities space will gather more interest and players.<\/p>\n<p><b>We had that M&A boom in 2017 and then 2018 was kind of dry. The buyers shifted.<\/b> In the old days, the buyers used to be from the UK, Europe, and the US. Then that shifted to GCC and Asian investors and now its shifting back a little bit and we\u2019re seeing more of the classical players. For me, another indicator which is more important than M&As is greenfield projects. We are seeing a lot activity in this respect in infrastructure and energy in Egypt on the national level.<\/p>\n<p><b>I don\u2019t believe that locals have to commit to greenfield projects before we start seeing foreign direct investment<\/b>, but there needs to be a local element to the financing. Even on the legal structuring, local banks have a significant role to play from a regulation, security, and enforcement standpoint. Foreign or offshore banks have a much weaker security position under current legislation. Local players are needed.<\/p>\n<p><b>Then there\u2019s the FX: <\/b>if it\u2019s all international and hard currency based, how does one hedge properly on currency risk? I think there needs to be an element of local financing for local projects to take off.<\/p>\n<p><b>What brings FDI back in?<\/b> That\u2019s the mn USD question. From my point of view, a lot of it has to do with having the correct regulatory regime in place to provide potential investors with the visibility and comfort they need to take the plunge. I think there\u2019s been great strides made in the past few years and we are now in a period of major legislative change. New laws are out and the regulatory authorities are applying those new laws very proactively and asserting their roles in the private sector. This is ultimately a very healthy thing. We\u2019re going through a very natural grey area period which always tends to occur when new laws and regulations are rolled out. Once the dust settles and clarity and visibility is provided, investors will start coming in.<\/p>\n<p><b>Hospitality and construction will outperform<\/b> in 2019.<\/p>\n<p><b>Underperform?<\/b> Local banking and finance.<\/p>\n<p><b>If I were to start a new business today, I would invest in tech.<\/b> Probably fintech, but tech generally, on the AI end of it.<\/p>\n<p><b>Our industry is changing. <\/b>The landscape is transforming from a classic local market industry with a lot of family law firms or one man \/ woman shows to one where international players are entering the market. This is typical as the market gets more mature. We have two or three market entrants every year and I think that\u2019ll be true next year as well. It really changes the landscape and I think it\u2019s great for the country.<\/p>\n<p><b>Why? It\u2019s good because it increases competition. <\/b>Not having competition is boring and leads to complacency. And it gives you reference points. On another level, having international firms here helps the legal market because it raises the bar and prices. By definition, international firms have a larger cost base. It\u2019ll be interesting to see who stays and who leaves. The winners will be agile and respond very quickly to major shifts in market conditions, which are chronic in our markets here.<\/p>\n<p><b>Part of growing while maintaining our roots is that agility. <\/b>Being able to get a consensus with the major decision makers and implementing it immediately. With multiple offices, the guys on the ground in each respective market understand their conditions better than I do and if we chose the right person to be there and they say we need to make this radical move immediately, we can\u2019t drag our feet on it. I don\u2019t want to change to a pyramid structure. We\u2019re not formal on our partnership structure, we don\u2019t have rigid rules on voting, and we don\u2019t apply our trade on ourselves. We keep it informal, it\u2019s about the human relationships. Part of having built our own thing is we have the privilege of deciding who joins us as a partner, we don\u2019t have partners forced upon us. That allows us to maintain that informal structure. Informality is a very powerful tool if used properly.<\/p>\n<p><b>The most common question I get are those linked to the regulatory regime.<\/b> What\u2019s going to happen, how will VAT roll out, how will these new regulations be implemented in whichever sphere. And questions about visibility. Our clients and business need that to make an investment or business plan.<\/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\/matouk-bassiouny-hennawy\/\">Matouk Bassiouny &amp; Hennawy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/the-enterprise-ceo-poll\/\">The Enterprise CEO Poll<\/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=\"600691\" 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=\"600691\">\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\">The Market Yesterday<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2019\/02\/06\/the-market-yesterday-402\/\">\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\/02\/06\/the-market-yesterday-402\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); 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CIB, the index heaviest constituent ended up 3.0%. EGX30\u2019s top performing constituents were GB Auto up 6.5%, TMG Holding up 6.0%, Arab Cotton Ginning up 5.1%. Yesterday\u2019s worst performing stocks were Orascom Development Egypt down 0.3%, and Cairo Investment & Real Estate Development down 0.1%. The market turnover was EGP 2.0 bn, and local investors were the sole net buyers.<\/p>\n<p><b>Foreigners<\/b>: Net Short | EGP -128.8 mn<\/p>\n<p> <b>Regional<\/b>: Net Short | EGP -26.4 mn<\/p>\n<p> <b>Domestic<\/b>: Net Long | EGP +155.2 mn<\/p>\n<p><b>Retail<\/b>: 54.3% of total trades | 49.1% of buyers | 59.5% of sellers<\/p>\n<p> <b>Institutions<\/b>: 45.7% of total trades | 50.9% of buyers | 40.5% of sellers<\/p>\n<p><b>WTI:<\/b> USD 53.63 (-1.70%)<\/p>\n<p> <b>Brent:<\/b> USD 61.96 (-0.88%)<\/p>\n<p><b>Natural Gas<\/b> (Nymex, futures prices) USD 2.67 MMBtu, (+0.49%, Mar 2019)<\/p>\n<p> <b>Gold:<\/b> USD 1,319.90 \/ troy ounce (-0.03%)<br <br=\"\"><\/p>\n<p><b>TASI:<\/b> 8,623.92 (+1.21%) (YTD: +10.19%)<\/p>\n<p> <b>ADX:<\/b> 5,137.30 (+0.18%) (YTD: +4.52%)<\/p>\n<p> <b>DFM:<\/b> 2,542.82 (+0.54%) (YTD: +0.52%)<\/p>\n<p> <b>KSE Premier Market:<\/b> 5,451.82 (+0.47%)<\/p>\n<p> <b>QE:<\/b> 10,715.29 (-0.11%) (YTD: +4.04%)<\/p>\n<p> <b>MSM:<\/b> 4,169.13 (+0.07%) (YTD: -3.58%)<\/p>\n<p> <b>BB: <\/b>1,403.69 (+0.44%) (YTD: +4.97%)<\/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=\"600692\" 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\/02\/06\/600692\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-600692\" class=\"content-area-description single-story post-600692 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>07 February (Thursday): <a href=\"http:\/\/www.egyptbuildmat.com\/\">Egypt Building Materials Summit<\/a>, Nile Ritz Carlton, Cairo, Egypt<\/p>\n<p>11-13 February (Monday-Wednesday): <a href=\"https:\/\/www.egyps.com\/\">Egypt Petroleum Show<\/a>, Egyptian International Exhibition Center, Cairo.<\/p>\n<p>14 February (Thursday): Central Bank of Egypt\u2019s monetary policy committee meets to review interest rate.<\/p>\n<p>19 February (Tuesday) The Cairo Economic Court to deliver decision on pharma distributors appeal, Egypt.<\/p>\n<p>19-20 February (Tuesday-Wednesday): The <a href=\"https:\/\/www.terrapinn.com\/exhibition\/solar-show-mena\/index.stm\">Solar Show MENA 2019<\/a>, Nile Ritz Carlton Hotel, Cairo, Egypt.<\/p>\n<p>23 February (Saturday): The Supreme Administrative Court <a href=\"https:\/\/almalnews.com\/Story\/408525\/17\/%D8%AA%D8%A3%D8%AC%D9%8A%D9%84-%D8%A7%D9%84%D8%AD%D9%83%D9%85-%D9%81%D9%8A-%D8%B7%D8%B9%D9%86-%D8%A3%D9%88%D8%A8%D8%B1-%D9%88%D9%83%D8%B1%D9%8A%D9%85-%D8%A5%D9%84%D9%89-23-%D9%81%D8%A8%D8%B1%D8%A7%D9%8A%D8%B1\">will rule<\/a> in an appeal <a href=\"https:\/\/enterprise.press\/stories\/2018\/03\/28\/uber-careem-appeal-administrative-court-ruling-ordering-their-closure\/\">by Uber and its competitor Careem<\/a> against a lower court ruling ordering the suspension of their operations.<\/p>\n<p>24-25 February (Sunday-Monday): EU-Arab League summit, Sharm El-Sheikh, Egypt<\/p>\n<p>26-28 February (Tuesday-Thursday): 22nd International Conference on Petroleum Mineral<\/p>\n<p>Resources and Development, Egyptian Petroleum Research Institute, Nasr City, Cairo, Egypt.<\/p>\n<p>03-06 March (Sunday-Wednesday): EFG Hermes One-on-One Conference, Dubai.<\/p>\n<p>March (date TBD): <a href=\"https:\/\/egypt.tradersfair.com\/\">Traders Fair<\/a>, Nile Ritz Carlton, Cairo, Egypt.<\/p>\n<p>17 March (Sunday): A court <a href=\"https:\/\/alborsaanews.com\/2019\/02\/04\/1174960\">will look into<\/a> a lawsuit by a subsidiary of Arabian Investments, Development and Financial Investment Holding Co. (AIND) against Peugeot Citroen, seeking EUR 150 mn in damages.<\/p>\n<p>17-18 March (Sunday-Monday): OPEC Joint Ministerial Monitoring Committee meeting, Baku (<a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2019-01-14\/opec-leaves-market-guessing-as-it-struggles-to-set-meeting-date\">Bloomberg<\/a>)<\/p>\n<p>18-19 March (Monday-Tuesday): US Federal Open Market Committee holds two-day policy meeting to review the interest rate.<\/p>\n<p>27-30 March (Wednesday-Saturday): <a href=\"https:\/\/www.cityscapeegypt.com\/en\/Home.html\">Cityscape Egypt 2019<\/a>, Egypt International Exhibition Center, Nasr City Cairo.<\/p>\n<p>28 March (Thursday): Central Bank of Egypt\u2019s monetary policy committee meets to review interest rate.<\/p>\n<p>April: The African Tripartite Trade Area (<a href=\"https:\/\/en.wikipedia.org\/wiki\/Tripartite_Free_Trade_Area\">TFTA<\/a>) agreement is set to take effect in April after a majority from the participating governments ratified it, COMESA Secretary General Chileshe Kapwepwe <a href=\"https:\/\/www.shorouknews.com\/news\/view.aspx?cdate=12122018&id=fa6e13de-e3be-48fc-a76d-b65af91f3545\">according to Al Shorouk<\/a>.<\/p>\n<p>17-18 April (Wednesday-Thursday): OPEC+ meeting, Vienna (<a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2019-01-14\/opec-leaves-market-guessing-as-it-struggles-to-set-meeting-date\">Bloomberg<\/a>)<\/p>\n<p>20-22 April (Friday-Sunday): Spring meetings of the World Bank and International Monetary Fund, Washington, DC.<\/p>\n<p>25 April (Thursday): Sinai Liberation day, national holiday.<\/p>\n<p>28 April (Sunday): Easter Sunday, national holiday.<\/p>\n<p>29 April (Monday): Easter Monday, national holiday.<\/p>\n<p>30 April-1 March (Tuesday-Wednesday): US Federal Open Market Committee holds two-day policy meeting to review the interest rate.<\/p>\n<p>01 May (Wednesday): Labor Day, national holiday.<\/p>\n<p>06 May (Monday): First day of Ramadan (TBC).<\/p>\n<p>23 May (Thursday): Central Bank of Egypt\u2019s monetary policy committee meets to review interest rate.<\/p>\n<p>June: International Forum for small and medium enterprises (SMEs).<\/p>\n<p>05-06 June (Wednesday-Thursday): Eid El Fitr (TBC).<\/p>\n<p>18-19 June (Tuesday-Wednesday): US Federal Open Market Committee holds two-day policy meeting to review the interest rate.<\/p>\n<p>30 June (Sunday): June 2013 protests, national holiday.<\/p>\n<p>11 July (Thursday): Central Bank of Egypt\u2019s monetary policy committee meets to review interest rate.<\/p>\n<p>23 July (Tuesday): 23 July revolution, national holiday.<\/p>\n<p>30-31 July (Tuesday-Wednesday): US Federal Open Market Committee holds two-day policy meeting to review the interest rate.<\/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 meets to review interest rate.<\/p>\n<p>29 August (Thursday): Islamic New Year (TBC), national holiday.<\/p>\n<p>17-18 September (Tuesday-Wednesday): US Federal Open Market Committee holds two-day policy meeting to review the interest rate.<\/p>\n<p>26 September (Thursday): Central Bank of Egypt\u2019s monetary policy committee meets to review interest rate.<\/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, Cairo, Egypt.<\/p>\n<p>29-30 October (Tuesday-Wednesday): US Federal Open Market Committee holds two-day policy meeting to review the interest rate.<\/p>\n<p>9 November (Saturday): Prophet Mohammed's birthday, national holiday.<\/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>10-11 December (Tuesday-Wednesday): US Federal Open Market Committee holds two-day policy meeting to review the interest rate.<\/p>\n<p>26 December (Thursday): Central Bank of Egypt\u2019s monetary policy committee meets to review interest rate.<\/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":600664,"menu_order":0,"template":"","categories":[],"tags":[],"class_list":["post-600663","issue","type-issue","status-publish","has-post-thumbnail","hentry","wpautop","entry"],"acf":{"mongo_id":"8d94eed1-c836-4c4c-889f-f2a887b8fc75","teaser":"","photo_url":"https:\/\/ent.news\/2019\/2\/2621.jpg"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - 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