{"id":600989,"date":"2019-02-17T04:06:47","date_gmt":"2019-02-17T04:06:47","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/?post_type=issue&#038;p=600989"},"modified":"2025-12-16T21:57:34","modified_gmt":"2025-12-16T21:57:34","slug":"central-bank-surprises-with-100-bps-interest-rate-cut","status":"publish","type":"issue","link":"https:\/\/enterpriseam.com\/egypt\/issues\/central-bank-surprises-with-100-bps-interest-rate-cut\/","title":{"rendered":"Central bank surprises with 100 bps interest rate cut"},"content":{"rendered":"<section id=\"600991\" 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=\"600991\">\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\/17\/what-were-tracking-on-17-february-2019\/\">\r\n                            What we\u2019re tracking on 17 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\/17\/what-were-tracking-on-17-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(); 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The Supreme Administrative Court, meanwhile, <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> on 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 on Saturday.<\/p><p><b>Our Coffee With\u2026 feature is back this morning<\/b> with Egyptian Exchange chief Mohamed Farid sitting down for a cup of joe. The interview starts after this morning\u2019s Speed Round, or you can <a href=\"https:\/\/enterprise.press\/2019\/02\/17\/coffee-mohamed-farid-chairman-egyptian-exchange\/\">jump straight to the web and read it in full there<\/a> \u2014 it has something for market newbies and finance nerds alike.<\/p><p><b>Don\u2019t lose the plot:<\/b> We\u2019re barreling toward the peak of 4Q\/FY2018 earnings season.<\/p><p><b>Good news: The Russians are coming.<\/b> Suez Canal Authority boss Mohab Mamish is in Moscow today to move forward an agreement on a USD 7 bn Russian Industrial Zone, <a href=\"https:\/\/www.facebook.com\/SCZONE.EG\/photos\/a.757757577714529\/1290127501144198\/?type=3&amp;permPage=1\">according to a statement<\/a>.<\/p><p><a class=\"content-anchor\" id=\"tldr-story-08\"><\/a> <b>Bad news: So are the locusts. <\/b>Locusts have landed in Egypt on the southern Red Sea coast (see map, below), the UN Food and Agriculture Organization (FAO) has warned, <a href=\"https:\/\/af.reuters.com\/article\/egyptNews\/idAFL5N20A5JA\">according to Reuters<\/a>. Rains in Sudan and Eritrea have led to a \u201csubstantial increase\u201d in the locust population, and locust control efforts are underway in Egypt, Eritrea, Saudi Arabia and Sudan, the FAO said. <a href=\"http:\/\/www.fao.org\/ag\/locusts\/en\/info\/info\/index.html\">You can track the advance of the bugs here<\/a><\/p><p class=\"web-image\"><a href=\"http:\/\/www.fao.org\/ag\/locusts\/en\/info\/info\/index.html\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2019\/2\/2149.png?ssl=1\"><\/a><\/p><p><b>Egypt could put two teams on the court as the NBA comes to Africa<\/b>, the <a href=\"http:\/\/www.nba.com\/article\/2019\/02\/16\/nba-fiba-announce-pro-league-africa\">Associated Press<\/a> reports. The Basketball Africa League, a collaboration between the NBA and FIBA, basketball\u2019s global governing body, could see 12 teams playing in January 2020. Former US President Barack Obama will be somehow involved with the league, which will see countries including Angola, Egypt, Kenya, Morocco, Nigeria, Rwanda, Senegal, South Africa and Tunisia putting together teams.<\/p><p><b>What global investors are watching for this week: <\/b>Wall Street <b>earnings<\/b> (is an \u201cearnings recession\u201d in the works?), US <b>unemployment claims<\/b>, developments in <b>emerging markets<\/b> (we\u2019re hot again after the Fed signaled it was pulling back from rate hikes), a <b>snap election in Spain<\/b>, and the impact of <b>disappointing PMI figures in Europe<\/b> on sentiment. <a href=\"https:\/\/www.reuters.com\/article\/us-global-markets-themes-graphic\/take-five-the-r-word-world-markets-themes-for-the-week-ahead-idUSKCN1Q41O4\">Reuters<\/a> has more.<\/p><p><b>In global miscellany worth knowing about this morning:<\/b><\/p><ul>\n<li>The global press is not happy with the <b>US-sponsored Middle East conference<\/b> in Warsaw. Among the terms used to describe it in western media: <a href=\"https:\/\/www.economist.com\/middle-east-and-africa\/2019\/02\/15\/mike-pompeos-shambolic-summit-in-warsaw\">shambolic<\/a>, <a href=\"https:\/\/www.cnn.com\/2019\/02\/15\/opinions\/warsaw-conference-diplomatic-fumble-ghitis\/index.html\">diplomatic fumble<\/a>, and <a href=\"https:\/\/news.google.com\/articles\/CAIiEEL7tuIznGD4Hq6QxmES9WcqGQgEKhAIACoHCAowi_yDCzDblYADMKD_9QU?hl=en-US&amp;gl=US&amp;ceid=US%3Aen\">dumpster fire.<\/a> <\/li>\n<li><b>The Donald declared a national emergency <\/b>on Friday to fund his controversial border wall with Mexico. The story is getting plenty of play (<a href=\"https:\/\/www.nytimes.com\/2019\/02\/15\/us\/politics\/national-emergency-trump.html\">NYT<\/a> | <a href=\"https:\/\/www.wsj.com\/articles\/trump-set-to-declare-national-emergency-at-border-sign-legislation-to-fund-government-11550241799\">WSJ<\/a> | <a href=\"https:\/\/www.ft.com\/content\/01b1011c-3132-11e9-8744-e7016697f225\">FT<\/a>).<\/li>\n<\/ul><p><b>This is why people hate us (capitalists): <\/b>Goldman Sachs argues in a research report that curing patients with one-shot gene therapies could be bad for business in the long term by cannibalizing recurring revenues of pharmaplayers, <a href=\"https:\/\/www.cnbc.com\/2018\/04\/11\/goldman-asks-is-curing-patients-a-sustainable-business-model.html\">CNBC reports<\/a>.<\/p><p><b>But we still love us a hedgie: <\/b>A new poster and teaser (<a href=\"https:\/\/m.youtube.com\/watch?v=EFGmA9IjDBU\">watch, runtime: 0:49<\/a>) for season four of Bns is out. Enjoy<\/p>\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\/careem\/\">Careem<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/russia\/\">Russia<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/russian-industrial-zone\/\">Russian Industrial Zone<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/uber\/\">Uber<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/what-were-tracking-today\/\">What We&#039;re Tracking Today<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"600992\" 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 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draggable=\"false\" src=\"https:\/\/i0.wp.com\/ent.news\/internal\/27483.png?fit=300%2C300&#038;ssl=1\" alt=\"\">\r\n                    <\/a>\r\n                    <span>Powering with nature<\/span>\r\n                <\/div>\r\n            <\/div>\r\n            <\/div><\/div><\/div>\r\n        \r\n            <div class=\"wp-block-stackable-column stk-block-column stk-column stk-block stk-ohl09td\" data-v=\"4\" data-block-id=\"ohl09td\"><div class=\"stk-column-wrapper stk-block-column__content stk-container stk-ohl09td-container stk--no-background stk--no-padding\"><div class=\"stk-block-content stk-inner-blocks stk-ohl09td-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 class=\"stk-block-carousel__buttons\"><button class=\"stk-block-carousel__button stk-block-carousel__button__prev\" aria-label=\"Previous slide\"><svg aria-hidden=\"true\" focusable=\"false\" data-prefix=\"fas\" data-icon=\"chevron-left\" class=\"svg-inline--fa fa-chevron-left\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewBox=\"0 0 320 512\" width=\"32\" height=\"32\"><path d=\"M34.52 239.03L228.87 44.69c9.37-9.37 24.57-9.37 33.94 0l22.67 22.67c9.36 9.36 9.37 24.52.04 33.9L131.49 256l154.02 154.75c9.34 9.38 9.32 24.54-.04 33.9l-22.67 22.67c-9.37 9.37-24.57 9.37-33.94 0L34.52 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class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                story-section            \"\r\n            id=\"600993\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">2<\/div>\r\n\r\n                    <p class=\"f-graphik\">Enterprise+: Last Night\u2019s Talk Shows<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2019\/02\/17\/munich-security-conference-in-the-limelight-on-egypts-talk-shows\/\">\r\n                            Munich Security Conference in the limelight on Egypt\u2019s talk shows                        <\/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   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<\/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\/17\/munich-security-conference-in-the-limelight-on-egypts-talk-shows\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-600993\" class=\"content-area-description single-story post-600993 post type-post status-publish format-standard hentry category-enterprise-last-nights-talk-shows tag-abdel-fattah-el-sisi tag-automotive tag-enterprise-last-nights-talk-shows tag-enterpriseam tag-security wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><b>The Munich Security Conference was the highlight of last night\u2019s talk shows<\/b>, with Hona Al Asema\u2019s Lama Gebril (<a href=\"https:\/\/www.youtube.com\/watch?v=U0JDy7BtrSs\">watch, runtime: 03:44<\/a> and <a href=\"https:\/\/www.youtube.com\/watch?v=HpPEpUR3Nss\">runtime: 12:01<\/a>) and Masaa DMC\u2019s Eman El Hosary recapping the key takeaways from President Abdel Fattah El Sisi\u2019s speech (<a href=\"https:\/\/www.youtube.com\/watch?v=OysKZYc-UkY\">watch, runtime: 01:59<\/a>). El Hekaya\u2019s Amr Adib was more interested in the president\u2019s meeting with German Chancellor Angela Merkel, during which they discussed immigration (<a href=\"https:\/\/www.youtube.com\/watch?v=2ITyKtmt7CQ\">watch, runtime: 03:21<\/a>). We have the full details on the conference in Speed Round, below.<\/p>\n<p><b>Egypt must begin manufacturing automotives domestically<\/b> by bringing foreign manufacturers to set up shop here while simultaneously beginning to manufacture Egyptian vehicles, Rep. Fawzy Fata said on Masaa DMC. Fata also dismissed citizens\u2019 plans to set up a company to begin importing vehicles instead of relying on car dealerships as unfeasible (<a href=\"https:\/\/www.youtube.com\/watch?v=F5DWFciFHK4\">watch, runtime: 09:58<\/a>).<\/p>\n<p><b>Public Enterprises Minister Hisham Tawfik discussed public sector companies\u2019 losses<\/b> with El Hekaya\u2019s Amr Adib (<a href=\"https:\/\/www.youtube.com\/watch?v=UqOTc2dEsxY\">watch, runtime: 00:40<\/a>).<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/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\/automotive\/\">automotive<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/enterprise-last-nights-talk-shows\/\">Enterprise+: Last Night\u2019s Talk Shows<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/security\/\">security<\/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=\"600994\" 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=\"600994\">\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\/17\/central-bank-of-egypt-cuts-interest-rates-by-100-bps-in-first-mpc-meeting-in-2019\/\">\r\n                            Central Bank of Egypt cuts interest rates by 100 bps in first MPC meeting in 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\/17\/central-bank-of-egypt-cuts-interest-rates-by-100-bps-in-first-mpc-meeting-in-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\/17\/central-bank-of-egypt-cuts-interest-rates-by-100-bps-in-first-mpc-meeting-in-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\/17\/central-bank-of-egypt-cuts-interest-rates-by-100-bps-in-first-mpc-meeting-in-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=Central Bank of Egypt cuts interest rates by 100 bps in first MPC meeting in 2019&url=https:\/\/enterpriseam.com\/egypt\/2019\/02\/17\/central-bank-of-egypt-cuts-interest-rates-by-100-bps-in-first-mpc-meeting-in-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\/17\/central-bank-of-egypt-cuts-interest-rates-by-100-bps-in-first-mpc-meeting-in-2019\/&title=Central Bank of Egypt cuts interest rates by 100 bps in first MPC meeting in 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=Central+Bank+of+Egypt+cuts+interest+rates+by+100+bps+in+first+MPC+meeting+in+2019+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2019%2F02%2F17%2Fcentral-bank-of-egypt-cuts-interest-rates-by-100-bps-in-first-mpc-meeting-in-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\/17\/central-bank-of-egypt-cuts-interest-rates-by-100-bps-in-first-mpc-meeting-in-2019\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2018\/11\/1115.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"600995\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2019\/02\/17\/central-bank-of-egypt-cuts-interest-rates-by-100-bps-in-first-mpc-meeting-in-2019\/1115-jpg-27\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2018\/11\/1115.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1115.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2018\/11\/1115.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2018\/11\/1115.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-600994\" class=\"content-area-description single-story post-600994 post type-post status-publish format-standard has-post-thumbnail hentry category-speed-round tag-enterpriseam tag-inflation tag-interest-rates tag-monetary-policy tag-speed-round wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><a class=\"content-anchor\" id=\"tldr-story-01\"><\/a> <b>The Central Bank of Egypt cut its key interest rates by 100 bps on Thursday <\/b>in a move that surprised pundits: Nine of 11 economists surveyed in our <a href=\"https:\/\/enterprise.press\/stories\/2019\/02\/11\/january-inflation-inches-up-economists-expect-rates-to-remain-steady-on-thursday\/\">Enterprise poll<\/a> ahead of the meeting had suggested that the MPC would leave the rates on hold. The central bank cited lower inflation and unemployment, higher growth rates and slower global tightening.<\/p>\n<p><b>Where do rates stand this morning? <\/b>The CBE\u2019s overnight deposit and lending rates stand at 15.75% and 16.75%, respectively. The bank also cut its main operation and discount rates to 16.25%, the <a href=\"https:\/\/ent.news\/2019\/2\/1610.pdf\">CBE said in a statement (pdf)<\/a>.<\/p>\n<p><b>The \u201cwell-justified\u201d rate cut \u201cillustrates the CBE\u2019s confidence in Egypt\u2019s economic outlook, despite global headwinds,\u201d <\/b>said CI Capital\u2019s Hany Farahat, who called the rate cut. \u201cThe decision capitalizes on improving FX, capital flows, and inflation dynamics, and bodes well with our favorable balance of payments during 2019. We believe taking this step, days following the IMF\u2019s disbursement of the fifth USD 2 bn loan tranche, signals the fund\u2019s endorsement of an expansionary policy ahead.\u201d<\/p>\n<p><b>So why did the central bank cut rates? <\/b>Read on:<\/p>\n<p><b>Inflation within target range: <\/b>Egypt\u2019s annual headline urban inflation rate <a href=\"https:\/\/enterprise.press\/stories\/2019\/02\/11\/january-inflation-inches-up-economists-expect-rates-to-remain-steady-on-thursday\/\">increased slightly to 12.7%<\/a> in January compared to 12% the previous month, while annual core inflation went up to 8.6% from 8.3%, remaining within the CBE\u2019s target inflation range of 13% (\u00b13%), the CBE said, adding that it\u2019s targeting a rate of 9% (\u00b13%) for 4Q2020. Core inflation strips out volatile items such as food and fuel.<\/p>\n<p><b>GDP, unemployment:<\/b> GDP growth increased slightly to 5.5% in 4Q2018 from 5.3% in 3Q2018, the CBE said in its note, pointing out that the unemployment rate has also declined to 8.9% from 10%, its lowest level since December 2010.<\/p>\n<p><b>Private demand \u201ccontained\u201d: <\/b>The CBEsaid while external demand was looking up, local demand was suffering. \u201cPreliminary data for 3Q2018 indicate that net external demand continued to support economic activity while private domestic demand remained contained,\u201d the CBE said.<\/p>\n<p><b>Slower global tightening and stable oil prices: <\/b>The CBE also cited slower global growth, slower tightening of monetary policy globally as well as stable oil prices as factors that affected its decision on Thursday. \u201cThe expansion of global economic activity weakened, and the tightening of financial conditions eased, while trade tensions continued to weigh on the global outlook. International oil prices recently stabilized, yet remain subject to volatility due to potential supply-side factors,\u201d the CBE said.<\/p>\n<p><b>Business thinks it\u2019s a good start \u2014 but only a start: <\/b>\u201cThis is a good start and gives a good signal on the investment environment in Egypt, but we want more cuts and we hope the currency won\u2019t weaken again because it will impact purchasing power and our business consequently,\u201d Domty Vice Chairman Mohamed El Damaty told us. \u201cWe have already began expansion, but the rate cut helps us do more. Still, we are monitoring planned subsidy cuts this year and their impact on inflation, FX rates and whether further interest rate cuts are in the card. That will give us a clearer picture and help us set long-term plans.\u201d<\/p>\n<p><b>Don\u2019t expect businesses to start borrowing again soon: <\/b>\u201cThe much-needed interest rates cut will improve business sentiment, particularly with local investors, but we believe another cut will remain key for a material impact on unlocking CAPEX lending potential,\u201d said Alia Mamdouh, director of macro and strategy at Beltone Financial.<\/p>\n<p><b>So, which stocks win? <\/b>\u201cIt would bring down the cost of capital and this will be specifically positive for leveraged stocks such as <b>Ezz Steel<\/b>, <b>GB Auto<\/b> and <b>Qalaa Holdings<\/b>,\u201d Allen Sandeep, head of research at Naeem Brokerage, told us. \u201cIt is also good news for consumers stocks like <b>Juhayna<\/b>,<b> Obourland<\/b> and <b>Domty<\/b> as spending will pick up. It\u2019s <b>neutral for the banks<\/b> as treasury yields have dropped already by more than 1.5 percentage points, in anticipation of the rate cut, in our view.\u201d Sandeep also believes that the cut will also draw us closer to the kickstart of state IPOs as the opportunity cost of capital drops.<\/p>\n<p class=\"web-image\"><a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2019-02-14\/rate-pause-nears-a-year-in-egypt-with-inflation-set-for-liftoff\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2019\/2\/2024.jpg?ssl=1\"><\/a><\/p>\n<p><b>Carry traders don\u2019t see subsidy cuts planned for July delaying future rate cuts<\/b>, <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2019-02-14\/rate-pause-nears-a-year-in-egypt-with-inflation-set-for-liftoff\">according to Bloomberg<\/a>. The prospect of further easing could drive the carry trade to buy into local currency debt now.<\/p>\n<p><b>So what about the EGP? <\/b>That appetite from the carry trade will help support the EGP, economist Reham El Desoki told Bloomberg. Added Beltone\u2019s Mamdouh: \u201cWe reiterate our view of a limited downward pressure on the EGP in 2019 as investment recovery remains subdued.\u201d <b>The \u201cwaves of outflows\u201d that Egypt experienced last year are unlikely<\/b>, Mamdouh said, as \u201cthe attractive yields will continue to attract more foreigners.\u201d<\/p>\n<p><b>A more volatile EGP? <\/b>Though it reflects growing investor confidence in Egypt, the shift toward the open market is also likely to expose the pound to more volatility, the business information service said. \u201cA more volatile EGP could be an additional risk to the outlook,\u201d Bloomberg writes. And while CBE Governor Tarek Amer said the CBE will stand ready against speculators, the Finance Ministry is predicting that the EGP will depreciate.<\/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\/monetary-policy\/\">monetary policy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/speed-round\/\">SPEED ROUND<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"601008\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"601009\" 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=\"601009\">\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\">COFFEE WITH ENTERPRISE<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2019\/02\/17\/coffee-with-mohamed-farid-chairman-of-the-egx\/\">\r\n                            Coffee with Mohamed Farid, Chairman of the EGX                        <\/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\/17\/coffee-with-mohamed-farid-chairman-of-the-egx\/\" 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\/17\/coffee-with-mohamed-farid-chairman-of-the-egx\/')\">\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\/17\/coffee-with-mohamed-farid-chairman-of-the-egx\/\">\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=Coffee with Mohamed Farid, Chairman of the EGX&url=https:\/\/enterpriseam.com\/egypt\/2019\/02\/17\/coffee-with-mohamed-farid-chairman-of-the-egx\/\">\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\/17\/coffee-with-mohamed-farid-chairman-of-the-egx\/&title=Coffee with Mohamed Farid, Chairman of the EGX\">\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=Coffee+with+Mohamed+Farid%2C+Chairman+of+the+EGX+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2019%2F02%2F17%2Fcoffee-with-mohamed-farid-chairman-of-the-egx%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\/17\/coffee-with-mohamed-farid-chairman-of-the-egx\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2019\/2\/3.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"601010\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2019\/02\/17\/coffee-with-mohamed-farid-chairman-of-the-egx\/3-jpg-38\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2019\/2\/3.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"3.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2019\/2\/3.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2019\/2\/3.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-601009\" class=\"content-area-description single-story post-601009 post type-post status-publish format-standard has-post-thumbnail hentry category-coffee-with-enterprise tag-coffee-with tag-egx tag-enterpriseam tag-mohamed-farid 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-02\"><\/a> Six years after serving as vice-chairman of the Egyptian exchange, Mohamed Farid (<a href=\"http:\/\/egx.com.eg\/en\/bod-mohamed-farid.aspx\">official bio<\/a>) was tapped as EGX chairman in August 2017. His return to government service was preceded by a five-year stint as CEO and chairman of private-sector economic think tank Dcode, as well as an adjunct at AUC and the Arab Academy for Science, Technology and Maritime Transport. He was also a consultant to the World Bank. Since taking the helm of the EGX, Farid has seen through the introduction of new trading tools and regulations, including market making, margin trading, and changes in the criteria for inclusion in the benchmark EGX30.<\/p>\n<p>In the latest edition of our \u201cCoffee with\u2026\u201d series, we sat down with Farid for a chat about the EGX and the questions on everybody\u2019s minds.<\/p>\n<p><b>The key takeaways:<\/b><\/p>\n<ul>\n<li>Farid is passionate about one thing: <b>The power of long-term incremental savings<\/b> via investing in the stock market to rebuild the middle class. It is, he says, the ultimate hedge against inflation;<\/li>\n<li><b>At least 3-4 private sector companies are in the IPO pipeline<\/b> \u2014 that\u2019s over and above what we can expect from the state\u2019s privatization program;<\/li>\n<li><b>The private sector is not being crowded out of the economy:<\/b> Private-sector participation in GDP has gone from 62% before 25 January 2011 to 69.5% in FY2017-18;<\/li>\n<li><b>The upcoming EGX30 Total Return index<\/b> will show the power of dividends \u2014 look for it to launch in 1Q2019;<\/li>\n<li>The opportunity to attract <b>new investors from Asia<\/b> to the EGX is substantial;<\/li>\n<li><b>Retail investors are aging out of the market<\/b> \u2014 EGX is working on outreach and education initiatives to attract a new generation;<\/li>\n<li><b>He\u2019s not concerned about competition from the London Stock Exchange<\/b> for high-profile Egyptian listings;<\/li>\n<li>There is a movement afoot to create a <b>real market for corporate debt<\/b>;<\/li>\n<li>Look for a push sometime late this year or early next year to breathe life into the Nilex \u2014 including, possibly, <b>listed venture capital and small private equity firms<\/b>.<\/li>\n<\/ul>\n<p><b>Enterprise: Could you give our readers, who aren\u2019t familiar with the subject, what exactly is the stock exchange?<\/b><\/p>\n<p><b>Mohamed Farid:<\/b> The stock exchange is a platform that anyone can use to invest a sum of money for a return. Be it for significant investments or incremental saving in capital markets. It\u2019s a platform where shares \u2014 a piece of paper that represents ownership in a company \u2014 are traded just like wheat, rice, sugar. Whether they are in food or in real estate, the companies on the exchange are ones that you and I deal with on a daily basis. These daily interactions between the consumers and companies impact the stock price, which in turn, impacts the company\u2019s ability to draw investments, which it will then spend on making the product for the consumer. This interlocking dependence between the consumer and the company is why the stock exchange matters to everyone.<\/p>\n<p><b>E: Incremental savings, you say? Could you elaborate? <\/b><\/p>\n<p><b>MF:<\/b> One of the biggest missed opportunities for people, is the long term incremental savings benefits that come with investing in the stock market. It\u2019s a problem of perception borne out of a misconception. The problem for the average person when it comes to capital markets \u2014 and the stock market specifically \u2014 is deciding on which stock to buy, when to buy it and when to get out. The concerns over swings and volatility become minute details when looked at from the long term perspective. We\u2019re talking over a period of about 20 or 25 years, where it is perfectly possible to save around EGP 1000 per month on a monthly\/annual basis. The longevity of the incremental investment should yield investors not to worry about what happens in a single trading day. People think 20 years is a long time, but numbers do add up.<\/p>\n<p>A point to remember \u2014 it\u2019s about investing in indices: What enables investors to overcome the choice and timing of their incremental investments or savings decision is investing in index trackers or instruments that are not prone to the movement of one single stock. This would reduce the impact of volatility in the prices of one stock in particular by investing in the constituents of an index.<\/p>\n<p><b>E:<\/b> What\u2019s the missed opportunity here?<\/p>\n<p><b>MF:<\/b> Just look at how the EGX has grown from a market cap of EGP 400 bn from before the EGP float in 2016 to EGP 1 tn at its highest level in April 2018. We\u2019re talking about more than a 100% increase in the value of the companies on the exchange. Few have reaped the benefits of this growth due to the lack of wider participation in the stock market by the middle class.<\/p>\n<p><b>E:<\/b> How are opening and closing prices calculated on the stock exchange?<\/p>\n<p><b>MF:<\/b> Opening prices are the previous day\u2019s closing prices. Closing prices are determined by what is called the volume weighted average price. You basically add up all the money spent on every trade on a stock and then dividing by the total number of shares traded.<\/p>\n<p><b>E:<\/b> What\u2019s the role of price discovery in the morning?<\/p>\n<p><b>MF:<\/b> The role of the price discovery mechanism is to factor into the opening price the impact of a major news or disclosure that came up after the previous day\u2019s closing price and might affect the stock price. The pre-opening session \u2014 or the discovery session \u2014 runs from 9.30 am to 10am (when trade starts on the EGX). During this session, if the news is perceived as impacting the price, you will find investors placing orders on the trading system. The object of the session is to get a theoretical matching price that is different from the closing price and is considered the opening price for the stock.<\/p>\n<p><b>E:<\/b> Let\u2019s talk about volatility. It\u2019s been a crazy year on the volatility front, first in EM and then the worst December since the financial crisis.<\/p>\n<p><b>MF:<\/b> The risk premium increased, whether it is for an emerging market or a developed market. With Brexit and the US-China trade war, the risk premiums on international markets will be present for some time. This rising risk premium will affect growth in developed markets and impact the decisions of the US Federal Reserve, which is why it has been raising interest rates at a slower pace than what was originally envisaged. Especially when you look at yield curves now internationally, they\u2019re a bit flat. This should unfold in the first three quarters of 2019, to see dynamics of growth and inflation.<\/p>\n<p>What makes Egypt stand out is the economic reform story and the government\u2019s significant desire to expand the role of capital markets in the economy. The depth of fiscal and monetary reforms accompanied by unprecedented infrastructure investments increases what is called potential economic growth rate and developing social safety nets and programs as the assumed trickle-down-effect proved not to work 100%. The government has also demonstrated that it is agile enough to respond to the volatility in international markets. Case in point, the delay of the state privatization program. Postponing the program is not a cancelation, but a clear and temporary adaptive measure.<\/p>\n<p><a href=\"https:\/\/enterprise.press\/2019\/02\/17\/coffee-mohamed-farid-chairman-egyptian-exchange\/\">Tap or click here<\/a> to continue reading our sit-down with Mohamed Farid.<\/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\/coffee-with\/\">Coffee With<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/egx\/\">EGX<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/mohamed-farid\/\">Mohamed Farid<\/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=\"601011\" 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=\"601011\">\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 MACRO PICTURE<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2019\/02\/17\/as-the-cbe-unexpectedly-eases-are-more-emerging-market-rate-cuts-on-the-horizon\/\">\r\n                            As the CBE unexpectedly eases, are more emerging-market rate cuts on the horizon?                        <\/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\/17\/as-the-cbe-unexpectedly-eases-are-more-emerging-market-rate-cuts-on-the-horizon\/\" 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\/17\/as-the-cbe-unexpectedly-eases-are-more-emerging-market-rate-cuts-on-the-horizon\/')\">\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\/17\/as-the-cbe-unexpectedly-eases-are-more-emerging-market-rate-cuts-on-the-horizon\/\">\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=As the CBE unexpectedly eases, are more emerging-market rate cuts on the horizon?&url=https:\/\/enterpriseam.com\/egypt\/2019\/02\/17\/as-the-cbe-unexpectedly-eases-are-more-emerging-market-rate-cuts-on-the-horizon\/\">\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\/17\/as-the-cbe-unexpectedly-eases-are-more-emerging-market-rate-cuts-on-the-horizon\/&title=As the CBE unexpectedly eases, are more emerging-market rate cuts on the horizon?\">\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=As+the+CBE+unexpectedly+eases%2C+are+more+emerging-market+rate+cuts+on+the+horizon%3F+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2019%2F02%2F17%2Fas-the-cbe-unexpectedly-eases-are-more-emerging-market-rate-cuts-on-the-horizon%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\/17\/as-the-cbe-unexpectedly-eases-are-more-emerging-market-rate-cuts-on-the-horizon\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2019\/2\/108.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"601012\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2019\/02\/17\/as-the-cbe-unexpectedly-eases-are-more-emerging-market-rate-cuts-on-the-horizon\/108-jpg-25\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2019\/2\/108.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"108.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2019\/2\/108.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2019\/2\/108.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-601011\" class=\"content-area-description single-story post-601011 post type-post status-publish format-standard has-post-thumbnail hentry category-the-macro-picture tag-emerging-markets tag-enterpriseam tag-inflation tag-interest-rates tag-the-macro-picture wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><b>As the CBE unexpectedly eases, are more EM rate cuts on the horizon? <\/b>Inflation in Egypt was still at a fairly high (albeit within target) 12.7% when the CBE cut rates last week. But below-target inflation may motivate other emerging-market central banks to do the same, <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2019-02-14\/emerging-market-central-banks-rethink-rates-as-inflation-ebbs\">Bloomberg writes<\/a>. According to Morgan Stanley, inflation has fallen below 10-year averages in 80% of the emerging economies it covers, and as a result it expects 70% of them to either cut rates or keep them on hold. JPMorgan too has forecast easing in 10 emerging market countries, while Nomura Holdings has gone as far as to say that deflation may be a prospect for some economies.<\/p>\n<p><b>Disinflation: What\u2019s the situation? <\/b>Slowing inflation (otherwise known as disinflation) is underway in key EMs. Both <a href=\"https:\/\/www.cnbc.com\/2019\/02\/15\/china-inflation-january-ppi-cpi-reports-amid-renewed-us-china-trade-talks.html\">China<\/a> and <a href=\"https:\/\/in.reuters.com\/article\/india-economy-inflation\/indias-january-inflation-pace-drops-rbi-could-cut-rates-again-idINKCN1Q11DW\">India\u2019s<\/a> January inflation data fell short of expectations, in both cases due to falling food and fuel prices. Add to this Citigroup\u2019s latest Inflation Surprise Index for emerging markets \u2014 which fell to its lowest level in over three years last month \u2014 and it seems that disinflation is a growing trend among emerging economies (this is not true for all emerging markets of course \u2014 predictions of disinflation at the Turkish central bank would have you laughed out the room). While we have yet to see a comprehensive explanation, our somewhat cursory evaluation is that food and fuel prices are driving the disinflation trend.<\/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\/emerging-markets\/\">emerging markets<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/inflation\/\">inflation<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/interest-rates\/\">interest rates<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/the-macro-picture\/\">THE MACRO PICTURE<\/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=\"601013\" 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=\"601013\">\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\">Image of the Day<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2019\/02\/17\/rare-black-leopard-photographed-in-kenya\/\">\r\n                            Rare black leopard photographed in Kenya                        <\/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\/17\/rare-black-leopard-photographed-in-kenya\/\" 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\/17\/rare-black-leopard-photographed-in-kenya\/')\">\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\/17\/rare-black-leopard-photographed-in-kenya\/\">\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=Rare black leopard photographed in Kenya&url=https:\/\/enterpriseam.com\/egypt\/2019\/02\/17\/rare-black-leopard-photographed-in-kenya\/\">\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\/17\/rare-black-leopard-photographed-in-kenya\/&title=Rare black leopard photographed in Kenya\">\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=Rare+black+leopard+photographed+in+Kenya+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2019%2F02%2F17%2Frare-black-leopard-photographed-in-kenya%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\/17\/rare-black-leopard-photographed-in-kenya\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2019\/2\/754.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"601014\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2019\/02\/17\/rare-black-leopard-photographed-in-kenya\/754-jpg-4\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2019\/2\/754.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"754.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2019\/2\/754.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2019\/2\/754.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-601013\" class=\"content-area-description single-story post-601013 post type-post status-publish format-standard has-post-thumbnail hentry category-image-of-the-day tag-enterpriseam tag-image-of-the-day tag-nature wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><b>Last week in wildlife-related fake news<\/b>: Headlines everywhere last week claimed that the above image is the first time the rare black leopard has been captured on camera in more than a century. Apparently this isn\u2019t actually true (<a href=\"https:\/\/www.washingtonpost.com\/science\/2019\/02\/13\/black-leopard-photos-are-definitely-not-first-years\/?noredirect=on&utm_term=.6073e19db4c8\">per the WaPo<\/a>) but it makes our Image of the Day anyway for being so beautiful (<a href=\"https:\/\/www.independent.co.uk\/news\/world\/africa\/black-leopard-panther-rare-spotted-africa-kenya-photo-a8776886.html\">click here for the full gallery<\/a>).<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/image-of-the-day\/\">IMAGE OF THE DAY<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/nature\/\">nature<\/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=\"601015\" 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=\"601015\">\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\">EGYPT IN THE NEWS<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2019\/02\/17\/human-rights-watch-calls-for-independent-torture-inquiry\/\">\r\n                            Human Rights Watch calls for independent torture inquiry                        <\/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\/17\/human-rights-watch-calls-for-independent-torture-inquiry\/\" 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\/17\/human-rights-watch-calls-for-independent-torture-inquiry\/')\">\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\/17\/human-rights-watch-calls-for-independent-torture-inquiry\/\">\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=Human Rights Watch calls for independent torture inquiry&url=https:\/\/enterpriseam.com\/egypt\/2019\/02\/17\/human-rights-watch-calls-for-independent-torture-inquiry\/\">\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\/17\/human-rights-watch-calls-for-independent-torture-inquiry\/&title=Human Rights Watch calls for independent torture inquiry\">\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=Human+Rights+Watch+calls+for+independent+torture+inquiry+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2019%2F02%2F17%2Fhuman-rights-watch-calls-for-independent-torture-inquiry%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\/17\/human-rights-watch-calls-for-independent-torture-inquiry\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-601015\" class=\"content-area-description single-story post-601015 post type-post status-publish format-standard hentry category-egypt-in-the-news tag-amnesty-international tag-egypt-in-the-news tag-enterpriseam tag-human-rights tag-human-rights-watch tag-judiciary tag-muslim-brotherhood wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><b>A move in the House to amend the constitution is driving the conversation on Egypt this morning<\/b>. Coming in at a close second: <a href=\"https:\/\/www.reuters.com\/article\/us-egypt-security\/fifteen-egyptian-troops-killed-or-wounded-in-north-sinai-military-idUSKCN1Q5095\">The death or injury of 15 troops in a terror attack<\/a> in North Sinai and the nation\u2019s human rights record. We have chapter and verse on the constitution in Speed Round, above.<\/p>\n<p><b>On the human rights front: <\/b>Human Rights Watch <a href=\"https:\/\/www.hrw.org\/news\/2019\/02\/14\/egypt-set-independent-torture-inquiry\">issued a statement<\/a> calling for an independent inquiry into the use of torture in Egypt after the Egyptian Prosecutor General found 20 cases of torture published by HRW in 2017 to be \u201cuntrue.\u201d Freedom House\u2019s <a href=\"https:\/\/freedomhouse.org\/report\/freedom-world\/freedom-world-2019\/democracy-in-retreat\">2018 annual report<\/a> ranked Egypt among the world\u2019s least free countries citing, hardened political repression. <a href=\"https:\/\/www.amnesty.org\/en\/latest\/news\/2019\/02\/egypt-end-the-cruel-denial-of-family-visits-to-detainees\/\">Amnesty International<\/a> is calling for prison officials to lift restrictions on family visits, and an Egyptian-American citizen imprisoned in 2013 is on hunger strike and in poor health, reports <a href=\"https:\/\/abcnews.go.com\/amp\/Politics\/us-citizen-detained-egypt-years-dying-desperate-release\/story?id=61110961\">ABC News<\/a>.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/amnesty-international\/\">Amnesty International<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/egypt-in-the-news\/\">Egypt in the News<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/human-rights\/\">human rights<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/human-rights-watch\/\">Human Rights Watch<\/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\/muslim-brotherhood\/\">Muslim Brotherhood<\/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=\"601016\" 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=\"601016\">\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\">Diplomacy + Foreign Trade<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2019\/02\/17\/imf-keen-to-support-egypts-social-safety-programs-azour-says\/\">\r\n                            IMF keen to support Egypt\u2019s social safety programs, Azour says                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a 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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=IMF keen to support Egypt\u2019s social safety programs, Azour says&url=https:\/\/enterpriseam.com\/egypt\/2019\/02\/17\/imf-keen-to-support-egypts-social-safety-programs-azour-says\/\">\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\/17\/imf-keen-to-support-egypts-social-safety-programs-azour-says\/&title=IMF keen to support Egypt\u2019s social safety programs, Azour says\">\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=IMF+keen+to+support+Egypt%E2%80%99s+social+safety+programs%2C+Azour+says+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2019%2F02%2F17%2Fimf-keen-to-support-egypts-social-safety-programs-azour-says%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\/17\/imf-keen-to-support-egypts-social-safety-programs-azour-says\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-601016\" class=\"content-area-description single-story post-601016 post type-post status-publish format-standard hentry category-diplomacy-foreign-trade tag-development tag-diplomacy tag-diplomacy-foreign-trade tag-enterpriseam tag-finance tag-social-welfare wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><b>The International Monetary Fund (IMF) is keen on supporting Egypt\u2019s social safety programs<\/b>, Middle East and Central Asia Director Jihad Azour <a href=\"http:\/\/www.moss.gov.eg\/ar-eg\/Pages\/news-details.aspx?nid=818\">told Social Solidarity Minister Ghada Waly<\/a>.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/development\/\">development<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/diplomacy\/\">DIPLOMACY<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/diplomacy-foreign-trade\/\">Diplomacy + Foreign Trade<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/finance\/\">Finance<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/social-welfare\/\">social welfare<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"601017\" 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=\"601017\">\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\">Manufacturing<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2019\/02\/17\/chinese-companies-considering-to-invest-in-leather-industries-in-egypt\/\">\r\n                            Chinese companies considering to invest in leather industries in Egypt                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2019\/02\/17\/chinese-companies-considering-to-invest-in-leather-industries-in-egypt\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); navigator.clipboard.writeText('https:\/\/enterpriseam.com\/egypt\/2019\/02\/17\/chinese-companies-considering-to-invest-in-leather-industries-in-egypt\/')\">\n            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<\/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\/17\/chinese-companies-considering-to-invest-in-leather-industries-in-egypt\/&title=Chinese companies considering to invest in leather industries in Egypt\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=Chinese+companies+considering+to+invest+in+leather+industries+in+Egypt+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2019%2F02%2F17%2Fchinese-companies-considering-to-invest-in-leather-industries-in-egypt%2F\">\n                    WhatsApp                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/whatsapp-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n        <\/ul>\n    <\/div>\n        <\/div>\r\n                    \r\n                <\/div>\r\n\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2019\/02\/17\/chinese-companies-considering-to-invest-in-leather-industries-in-egypt\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-601017\" class=\"content-area-description single-story post-601017 post type-post status-publish format-standard hentry category-manufacturing tag-china tag-enterpriseam tag-investment-watch tag-manufacturing wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p>A number of Chinese companies are considering investing in the leather products sector in Egypt, <a href=\"http:\/\/www.mti.gov.eg\/Arabic\/MediaCenter\/News\/Pages\/%D9%88%D8%B2%D9%8A%D8%B1-%D8%A7%D9%84%D8%AA%D8%AC%D8%A7%D8%B1%D8%A9-%D9%88%D8%A7%D9%84%D8%B5%D9%86%D8%A7%D8%B9%D8%A9-%D9%8A%D8%B1%D8%A7%D9%81%D9%82%D9%87-%D9%88%D9%81%D8%AF-%D9%85%D9%86-%D9%83%D8%A8%D8%B1%D9%8A%D8%A7%D8%AA-%D8%A7%D9%84%D8%B4%D8%B1%D9%83%D8%A7%D8%AA-%D8%A7%D9%84%D8%B5%D9%8A%D9%86%D9%8A%D8%A9-%D9%81%D9%89-%D8%B2%D9%8A%D8%A7%D8%B1%D8%A9-%D9%84%D9%85%D8%AF%D9%8A%D9%86%D8%A9-%D8%A7%D9%84%D8%AC%D9%84%D9%88%D8%AF-%D8%A8%D8%A7%D9%84%D8%B1%D9%88%D8%A8%D9%8A%D9%83%D9%89.aspx\">the Industry Ministry said in a statement<\/a> after Minister Amr Nassar accompanied a Chinese delegation on a tour of the Rubiky leather city.<\/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\/china\/\">China<\/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\/manufacturing\/\">Manufacturing<\/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=\"601018\" 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=\"601018\">\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\">Telecoms + ICT<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2019\/02\/17\/mastercard-looking-to-work-with-egypt-to-make-new-capital-first-cashless-city\/\">\r\n                            MasterCard looking to work with Egypt to make new capital first \u201ccashless\u201d city                        <\/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\/17\/mastercard-looking-to-work-with-egypt-to-make-new-capital-first-cashless-city\/\" 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\/17\/mastercard-looking-to-work-with-egypt-to-make-new-capital-first-cashless-city\/')\">\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\/17\/mastercard-looking-to-work-with-egypt-to-make-new-capital-first-cashless-city\/\">\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=MasterCard looking to work with Egypt to make new capital first \u201ccashless\u201d city&url=https:\/\/enterpriseam.com\/egypt\/2019\/02\/17\/mastercard-looking-to-work-with-egypt-to-make-new-capital-first-cashless-city\/\">\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\/17\/mastercard-looking-to-work-with-egypt-to-make-new-capital-first-cashless-city\/&title=MasterCard looking to work with Egypt to make new capital first \u201ccashless\u201d city\">\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=MasterCard+looking+to+work+with+Egypt+to+make+new+capital+first+%E2%80%9Ccashless%E2%80%9D+city+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2019%2F02%2F17%2Fmastercard-looking-to-work-with-egypt-to-make-new-capital-first-cashless-city%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\/17\/mastercard-looking-to-work-with-egypt-to-make-new-capital-first-cashless-city\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-601018\" class=\"content-area-description single-story post-601018 post type-post status-publish format-standard hentry category-telecoms-ict tag-enterpriseam tag-financial-inclusion tag-fintech tag-new-administrative-capital tag-telecoms-ict wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p>MasterCard is looking to collaborate with the CIT Ministry to develop advanced digital payments infrastructure in the new capital, Chairman Michael Froman told Minister Amr Tawfik, <a href=\"http:\/\/www.mcit.gov.eg\/Ar\/Media_Center\/Press_Room\/Press_Releases\/31108\">according to a ministry statement<\/a>. Froman also presented proposed solutions to introduce e-payments to the transport, agriculture and SMEs sectors.<\/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\/financial-inclusion\/\">financial inclusion<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/fintech\/\">Fintech<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/new-administrative-capital\/\">new administrative capital<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/telecoms-ict\/\">Telecoms + ICT<\/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=\"601019\" 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=\"601019\">\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\">Automotive + Transportation<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2019\/02\/17\/tax-authority-issues-formula-on-how-to-tax-tuk-tuks\/\">\r\n                            Tax Authority issues formula on how to tax tuk tuks                        <\/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\/17\/tax-authority-issues-formula-on-how-to-tax-tuk-tuks\/\" 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\/17\/tax-authority-issues-formula-on-how-to-tax-tuk-tuks\/')\">\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\/17\/tax-authority-issues-formula-on-how-to-tax-tuk-tuks\/\">\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=Tax Authority issues formula on how to tax tuk tuks&url=https:\/\/enterpriseam.com\/egypt\/2019\/02\/17\/tax-authority-issues-formula-on-how-to-tax-tuk-tuks\/\">\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\/17\/tax-authority-issues-formula-on-how-to-tax-tuk-tuks\/&title=Tax Authority issues formula on how to tax tuk tuks\">\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=Tax+Authority+issues+formula+on+how+to+tax+tuk+tuks+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2019%2F02%2F17%2Ftax-authority-issues-formula-on-how-to-tax-tuk-tuks%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\/17\/tax-authority-issues-formula-on-how-to-tax-tuk-tuks\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-601019\" class=\"content-area-description single-story post-601019 post type-post status-publish format-standard hentry category-automotive-transportation tag-automotive tag-automotive-transportation tag-egyptian-tax-authority tag-enterpriseam tag-transport wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p>The Tax Authority published in the Official Gazette on Thursday the tax formula for how it will tax tuk tuks, <a href=\"https:\/\/www.almasryalyoum.com\/news\/details\/1369998\">AMAY reports<\/a>. The new formula will look at average daily revenues from a tuk tuk, and will factor in how many days a tuk tuk is used. In a receipt-less industry such as this, the authority has determined that the average daily revenue, according to 2014 figures, is around EGP 100. Adjusting for inflation, the authority estimates that the average daily revenue is EGP 150.<\/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\/automotive\/\">automotive<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/automotive-transportation\/\">Automotive + Transportation<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/egyptian-tax-authority\/\">Egyptian Tax Authority<\/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=\"601021\" 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=\"601021\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">12<\/div>\r\n\r\n                    <p class=\"f-graphik\">Other Business News of Note<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2019\/02\/17\/egypts-fra-rejects-veon-appeal-against-gth-capital-increase-voting-rights\/\">\r\n                            Egypt\u2019s FRA rejects Veon appeal against GTH capital increase voting rights                        <\/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\/17\/egypts-fra-rejects-veon-appeal-against-gth-capital-increase-voting-rights\/\" 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\/17\/egypts-fra-rejects-veon-appeal-against-gth-capital-increase-voting-rights\/')\">\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\/17\/egypts-fra-rejects-veon-appeal-against-gth-capital-increase-voting-rights\/\">\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\u2019s FRA rejects Veon appeal against GTH capital increase voting rights&url=https:\/\/enterpriseam.com\/egypt\/2019\/02\/17\/egypts-fra-rejects-veon-appeal-against-gth-capital-increase-voting-rights\/\">\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\/17\/egypts-fra-rejects-veon-appeal-against-gth-capital-increase-voting-rights\/&title=Egypt\u2019s FRA rejects Veon appeal against GTH capital increase voting rights\">\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%E2%80%99s+FRA+rejects+Veon+appeal+against+GTH+capital+increase+voting+rights+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2019%2F02%2F17%2Fegypts-fra-rejects-veon-appeal-against-gth-capital-increase-voting-rights%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\/17\/egypts-fra-rejects-veon-appeal-against-gth-capital-increase-voting-rights\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-601021\" class=\"content-area-description single-story post-601021 post type-post status-publish format-standard hentry category-other-business-news-of-note tag-cit tag-enterpriseam tag-finance tag-other-business-news-of-note tag-regulation wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p>The FRA has rejected an appeal against its decision to suspend Global Telecom Holding\u2019s (GTH) majority shareholder Veon Holding from voting on GTH\u2019s <a href=\"https:\/\/enterprise.press\/stories\/2019\/01\/09\/gth-planning-egp-11-2-bn-rights-issuance-on-the-egx\/\">EGP 11.2 bn capital increase<\/a>, <a href=\"http:\/\/www.egx.com.eg\/downloads\/Bulletins\/226336_1.pdf\">according to a statement to the EGX (pdf)<\/a>. The appeal was submitted to the authority by Veon Luxembourg Finance Holdings and Veon Luxembourg \u2014 the Amsterdam-based group\u2019s back offices. EGX-listed GTH is scheduled to hold the general assembly meeting <a href=\"https:\/\/enterprise.press\/stories\/2019\/01\/27\/gth-postpones-to-27-march-ga-meeting-to-vote-on-egp-11-2-bn-capital-increase\/\">next month<\/a> to put the capital increase motion to a vote. It is also worth noting that Veon has <a href=\"https:\/\/enterprise.press\/stories\/2019\/02\/11\/veon-moves-ahead-with-egx-listed-gth-take-private-bid\/\">filed for regulatory approval<\/a> to take GTH private.<\/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\/cit\/\">CIT<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/finance\/\">Finance<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/other-business-news-of-note\/\">Other Business News of Note<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/regulation\/\">regulation<\/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=\"601022\" 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=\"601022\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">13<\/div>\r\n\r\n                    <p class=\"f-graphik\">National Security<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2019\/02\/17\/north-sinai-clashes-bring-losses-to-militants-military\/\">\r\n                            North Sinai clashes bring losses to militants, military                        <\/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\/17\/north-sinai-clashes-bring-losses-to-militants-military\/\" 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\/17\/north-sinai-clashes-bring-losses-to-militants-military\/')\">\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\/17\/north-sinai-clashes-bring-losses-to-militants-military\/\">\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=North Sinai clashes bring losses to militants, military&url=https:\/\/enterpriseam.com\/egypt\/2019\/02\/17\/north-sinai-clashes-bring-losses-to-militants-military\/\">\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\/17\/north-sinai-clashes-bring-losses-to-militants-military\/&title=North Sinai clashes bring losses to militants, military\">\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=North+Sinai+clashes+bring+losses+to+militants%2C+military+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2019%2F02%2F17%2Fnorth-sinai-clashes-bring-losses-to-militants-military%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\/17\/north-sinai-clashes-bring-losses-to-militants-military\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-601022\" class=\"content-area-description single-story post-601022 post type-post status-publish format-standard hentry category-national-security tag-enterpriseam tag-national-security tag-terrorism wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p>Egyptian authorities prevented an attack with a home-made bomb in Giza intended to target a security patrol on Friday, <a href=\"https:\/\/af.reuters.com\/article\/egyptNews\/idAFL5N20A4LQ\">Reuters reports<\/a>. There was no immediate claim of responsibility for the intended attack, but the Interior Ministry attributed it to the Ikhwan. Two policemen and three civilians reportedly suffered minor injuries when the device exploded during the attempt to defuse it. Seven terrorists and 15 members of the military died during clashes in North Sinai one day later, according to an <a href=\"https:\/\/www.facebook.com\/EgyArmySpox\/posts\/1520085274789116?__xts__%5B0%5D=68.ARAJq2GHwYkE3djnyz20jeN8RFK9XftQ9jeezoC8TvZs7nXTntPfAp3lMY4wN_CHdVsZXrNO284R2WBP-lW1EJkOSb169gm2mKjhWDkBnTiSJlVodA6kPgDUM_PAurhHJ8jS2RreMtFQfQSPmaB0-TOWbve-fyGkWI6Z_OM3CXPfsq0Oi4SMQCoTuQ4qU8B3FmUtValUs3U4bJe6rYgN76GKwKm1L_nOPwsrxiJQl2RU4matwfUePFxUInz4UVPIVUFGq-DA4YR4JYKJOuOOSD8ZASqNbHN7FDnH9gWgPt1XZSQFmxZquC3JcCKPDrg166sl_0F9WAQVnZswIaclqg&__tn__=-R\">Armed Forces statement<\/a>. The Islamic State has claimed responsibility for the attack, saying it killed 20 Egyptian troops, <a href=\"https:\/\/www.reuters.com\/article\/us-egypt-security-islamicstate\/islamic-state-claims-north-sinai-attack-says-20-egyptian-troops-killed-idUSKCN1Q50L9\">reports Reuters.<\/a><\/p>\n<p class=\"web-image\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2019\/2\/774.jpg?ssl=1\"><\/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\/national-security\/\">national security<\/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                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"601023\" 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=\"601023\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">14<\/div>\r\n\r\n                    <p class=\"f-graphik\">ON YOUR WAY OUT<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2019\/02\/17\/syrias-ancient-monuments-photographed-before-the-war\/\">\r\n                            Syria\u2019s ancient monuments photographed before the war                        <\/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\/17\/syrias-ancient-monuments-photographed-before-the-war\/\" 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\/17\/syrias-ancient-monuments-photographed-before-the-war\/')\">\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\/17\/syrias-ancient-monuments-photographed-before-the-war\/\">\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=Syria\u2019s ancient monuments photographed before the war&url=https:\/\/enterpriseam.com\/egypt\/2019\/02\/17\/syrias-ancient-monuments-photographed-before-the-war\/\">\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\/17\/syrias-ancient-monuments-photographed-before-the-war\/&title=Syria\u2019s ancient monuments photographed before the war\">\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=Syria%E2%80%99s+ancient+monuments+photographed+before+the+war+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2019%2F02%2F17%2Fsyrias-ancient-monuments-photographed-before-the-war%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\/17\/syrias-ancient-monuments-photographed-before-the-war\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2019\/2\/231.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"601024\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2019\/02\/17\/syrias-ancient-monuments-photographed-before-the-war\/231-jpg-18\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2019\/2\/231.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"231.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2019\/2\/231.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2019\/2\/231.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-601023\" class=\"content-area-description single-story post-601023 post type-post status-publish format-standard has-post-thumbnail hentry category-on-your-way-out tag-archaeology tag-architecture tag-enterpriseam tag-photography tag-syria wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><b>Syria\u2019s indomitable archeological heritage survives the war:<\/b> Feast your eyes on these stately photographs in <a href=\"https:\/\/www.washingtonpost.com\/photography\/2019\/02\/08\/unaware-they-would-be-ravaged-by-war-this-photographer-documented-syrias-ancient-monuments\/?utm_term=.d0375f2fcf34\">The Washington Post<\/a> of some of Syria\u2019s most famous ancient monuments and quarters photographed by Kevin Bubriski. The austere black-and-white images capture the archeological sites and ordinary souks before the now-eight-year civil war kicked off.<\/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\/archaeology\/\">archaeology<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/architecture\/\">architecture<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/photography\/\">photography<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/syria\/\">Syria<\/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=\"601025\" 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=\"601025\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">15<\/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\/17\/the-market-yesterday-409\/\">\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\/17\/the-market-yesterday-409\/\" 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\/17\/the-market-yesterday-409\/')\">\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\/17\/the-market-yesterday-409\/\">\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\/02\/17\/the-market-yesterday-409\/\">\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\/17\/the-market-yesterday-409\/&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%2F02%2F17%2Fthe-market-yesterday-409%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\/17\/the-market-yesterday-409\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-601025\" class=\"content-area-description single-story post-601025 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\n<p><b>EGP \/ USD CBE market average: <\/b>Buy 17.50 | Sell 17.60<b><br \/>\n EGP \/ USD at CIB:<\/b> Buy 17.49 | Sell 17.59<br \/>\n <b>EGP \/ USD at NBE: <\/b>Buy 17.49 | Sell 17.59<\/p>\n<p><b>EGX30<\/b> (Thursday): 14,984 (+0.2%)<br \/>\n <b>Turnover:<\/b> EGP 910 mn (3% above the 90-day average)<br \/>\n <b>EGX 30 year-to-date<\/b>: +15.0%<\/p>\n<p><b>THE MARKET ON THURSDAY:<\/b> The EGX30 ended Thursday\u2019s session up 0.2%. CIB, the index heaviest constituent ended up 1.6%. EGX30\u2019s top performing constituents were Egyptian Iron & Steel up 5.3%, Arab Cotton Ginning up 4.8%, and Cairo Investment & Real Estate Development up 4.5%. Thursday\u2019s worst performing stocks were SODIC down 2.0%, El Sewedy Electric down 1.9% and Telecom Egypt down 1.6%. The market turnover was EGP 910 mn, and regional investors were the sole net sellers.<\/p>\n<p><b>Foreigners<\/b>: Net Long | EGP +18.3 mn<br \/>\n <b>Regional<\/b>: Net Short | EGP -20.7 mn<br \/>\n <b>Domestic<\/b>: Net Long | EGP +2.4 mn<\/p>\n<p><b>Retail<\/b>: 68.1% of total trades | 68.0% of buyers | 68.2% of sellers<br \/>\n <b>Institutions<\/b>: 31.9% of total trades | 32.0% of buyers | 31.8% of sellers<\/p>\n<p><b>WTI:<\/b> USD 55.59 (+2.17%)<br \/>\n <b>Brent:<\/b> USD 66.25 (+2.60%)<\/p>\n<p><b>Natural Gas<\/b> (Nymex, futures prices) USD 2.63 MMBtu, (+2.02%, March 2019 contract)<br \/>\n <b>Gold:<\/b> USD 1,322.10 \/ troy ounce (+0.62%)<\/p>\n<p><b>TASI:<\/b> 8,626.28 (+0.11%) (YTD: +10.22%)<br \/>\n <b>ADX:<\/b> 5,036.41 (+0.19%) (YTD: +2.47%)<br \/>\n <b>DFM:<\/b> 2,533.61 (+1.65%) (YTD: +0.15%)<br \/>\n <b>KSE Premier Market:<\/b> 5,419.95 (-0.89%)<br \/>\n <b>QE:<\/b> 9,941.50 (-2.35%) (YTD: -3.47%)<br \/>\n <b>MSM:<\/b> 4,109.34 (-0.13%) (YTD: -4.96%)<br \/>\n <b>BB: <\/b>1,371.98 (-0.15%) (YTD: +2.60%)<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/the-market-yesterday\/\">The Market Yesterday<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"601026\" 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\/17\/601026\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-601026\" class=\"content-area-description single-story post-601026 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>19 February (Tuesday): 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>23 February (Saturday): <a href=\"https:\/\/www.alborsaanews.com\/2019\/02\/14\/1178060\">Saudi Egyptian Business Council Meeting<\/a>, Cairo, Egypt.<\/p>\n<p>24-25 February (Sunday-Monday): EU-Arab League summit, Sharm El-Sheikh, Egypt.<\/p>\n<p>26 February (Tuesday): <a href=\"https:\/\/unite.un.org\/techevents\/UNTIL_Egypt_blockchain\">BLOCKCHAIN: What is it? Potential Applications Beyond Cryptocurrencies<\/a>, TIEC Smart Village Building (B5), Cairo, 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>10 March (Sunday): CIB <a href=\"http:\/\/www.egx.com.eg\/downloads\/Bulletins\/226095_2.pdf\">to hold EGM meeting<\/a> to look into planned capital increase.<\/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>April: The EUR 250 mn first phase of Egypt\u2019s national waste management program kicks off.<\/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>9-11 December (Monday-Wednesday): <a href=\"http:\/\/www.foodafrica-expo.com\/\">Food Africa 2019 Expo<\/a>, Egypt International Exhibition Center, Cairo, Egypt.<\/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\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":600990,"menu_order":0,"template":"","categories":[],"tags":[],"class_list":["post-600989","issue","type-issue","status-publish","has-post-thumbnail","hentry","wpautop","entry"],"acf":{"mongo_id":"c562a07d-12f6-429b-b673-b8cee18e65e0","teaser":"","photo_url":"https:\/\/ent.news\/2016\/8\/1246.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>Central bank surprises with 100 bps interest rate cut - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/issues\/central-bank-surprises-with-100-bps-interest-rate-cut\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta 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