{"id":644952,"date":"2017-07-09T04:24:33","date_gmt":"2017-07-09T04:24:33","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/?post_type=issue&#038;p=644952"},"modified":"2025-12-17T19:24:26","modified_gmt":"2025-12-17T19:24:26","slug":"cbe-raises-interest-rates-200-bps","status":"publish","type":"issue","link":"https:\/\/enterpriseam.com\/egypt\/issues\/cbe-raises-interest-rates-200-bps\/","title":{"rendered":"CBE raises interest rates 200 bps"},"content":{"rendered":"<section id=\"644954\" 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=\"644954\">\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\/2017\/07\/09\/what-were-tracking-on-9-july-2017\/\">\r\n                            What we\u2019re tracking on 9 July 2017                        <\/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\/2017\/07\/09\/what-were-tracking-on-9-july-2017\/\" 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\/2017\/07\/09\/what-were-tracking-on-9-july-2017\/')\">\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\/2017\/07\/09\/what-were-tracking-on-9-july-2017\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=What we\u2019re tracking on 9 July 2017&url=https:\/\/enterpriseam.com\/egypt\/2017\/07\/09\/what-were-tracking-on-9-july-2017\/\">\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\/2017\/07\/09\/what-were-tracking-on-9-july-2017\/&title=What we\u2019re tracking on 9 July 2017\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=What+we%E2%80%99re+tracking+on+9+July+2017+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2017%2F07%2F09%2Fwhat-were-tracking-on-9-july-2017%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\/2017\/07\/09\/what-were-tracking-on-9-july-2017\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-644954\" class=\"content-area-description single-story post-644954 post type-post status-publish format-standard hentry category-what-were-tracking-today tag-enterpriseam tag-what-were-tracking-today wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<aside>\t\t\t<div\r\n\t\t\t\t\t\t\t\tclass=\"newspack-popup-container newspack-popup hidden  newspack-inline-popup  newspack-lightbox-no-border   \"\r\n\t\t\t\trole=\"button\"\r\n\t\t\t\ttabindex=\"0\"\r\n\t\t\t\tstyle=\"background-color:#FFFFFF;color:#000\"\r\n\t\t\t\tid=\"id_27645\"\r\n\t\t\t\tdata-segments=\"\"\r\n\t\t\t\tdata-frequency=\"0,0,0,month\"\r\n\t\t\t>\r\n\t\t\t\t\n<div class=\"wp-block-group has-light-gray-background-color has-background\" style=\"padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px\"><div class=\"wp-block-group__inner-container is-layout-constrained wp-container-core-group-is-layout-ef38739e wp-block-group-is-layout-constrained\">\n<div class=\"wp-block-group is-content-justification-center is-nowrap is-layout-flex wp-container-core-group-is-layout-94bc23d7 wp-block-group-is-layout-flex\">\n<p class=\"f-graphik\" style=\"font-size:14px\">Together with<\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full\"><img decoding=\"async\" src=\"https:\/\/s3.amazonaws.com\/resources.inktankir.com\/internal\/27482.svg\" alt=\"\" class=\"wp-image-27482\"\/><\/figure>\n<\/div><\/div>\n<\/div><\/div>\n\t\t\t<\/div>\r\n\t\t<\/aside>\n<p><strong>By now, you must have heard that the Central Bank\u2019s Monetary Policy committee raised interest rates another 200 bps last Thursday.<\/strong> The move has caused quite a bit of consternation among the private sector, not unlike last May\u2019s interest rate hike (we have more in the Speed Round). We will be keeping an eye on how this will impact the EGX this morning, how banks will respond, business \u2014 considering some have already started saying that CAPEX will be cut \u2014 and inflation. We are expecting word from the CBE on inflation rates for June sometime this week.<\/p><p>On that note, <strong>more price hikes have come after the Electricity Ministry announced last Thursday that it was raising electricity prices around 42%<\/strong> across the board. This coupled with fuel hikes late last month and an expected increase in metro ticket prices (more in Speed Round) is sure to see inflation grow this month. The question is, will it surpass the government\u2019s target of a 4.5% inflation rate increase.<\/p><p><strong>Supply Minister Ali El Moselhy is scheduled to discuss the cost of producing subsidized bread at a meeting today<\/strong> with representative from the Federation of Egyptian Chambers of Commerce\u2019s bakeries division, <a href=\"http:\/\/www.almalnews.com\/Story\/339346\/14\/%D8%A7%D9%84%D9%85%D8%B5%D9%8A%D9%84%D8%AD%D9%89-%D9%8A%D8%A8%D8%AD%D8%AB-%D9%85%D8%B9-%D8%A7%D9%84%D9%85%D8%AE%D8%A7%D8%A8%D8%B1-%D8%AA%D9%83%D9%84%D9%81%D8%A9-%D8%A7%D9%84%D8%A5%D9%86%D8%AA%D8%A7%D8%AC-%D8%A7%D9%84%D8%AC%D8%AF%D9%8A%D8%AF%D8%A9---%D8%BA%D8%AF%D9%8B%D8%A7\">Al Mal reports<\/a>. There are divergent opinions on the amount the government subsidizes, with the Supply Ministry, and the bakeries divided on the issue. The three sides are also expected to discuss the price of diesel provided to bakeries, after the government moved to raise fuel prices <a href=\"https:\/\/enterprise.press\/stories\/2017\/07\/02\/govt-hikes-fuel-prices-55\/\">late last month<\/a>. El Moselhy had said the government would ensure the<a href=\"https:\/\/enterprise.press\/stories\/2017\/07\/02\/fuel-price-hikes-steal-the-spotlight-on-the-airwaves\/\">price hikes would not affect the cost of bread<\/a> or other subsidized food staples.<\/p><p><strong>When companies get tangled in regional political beefs: <\/strong>Vodafone Egypt is facing backlash domestically due to the network\u2019s branch in Qatar took sycophancy to a whole new level by<a href=\"https:\/\/dohanews.co\/why-your-phone-now-says-tamim-almajd-instead-of-ooredoo\/\">changing its name to \u201cGlorious Tamim,\u201d<\/a> which Egyptians have perceived as the British company taking a stance against Egypt and the GCC countries, <a href=\"https:\/\/english.alarabiya.net\/en\/business\/technology\/2017\/07\/08\/Calls-for-boycotting-Vodafone-Egypt-after-its-Glorious-Tamim-campaign-in-Qatar-.html\">Al Arabiya reports<\/a>. The company has been forced to deny that this was company policy and that this was the decision of Vodafone\u2019s Qatar subsidiary (more in Last Night\u2019s Talk Shows). The latter should taken a lesson from France\u2019s Total, which has made it clear it is not taking sides in the issue, with its CEO stressing that the company\u2019s business is not affected by the politics of the region, <a href=\"http:\/\/www.reuters.com\/article\/us-gulf-qatar-total-idUSKBN19S2P1\">according to Reuters<\/a>.<\/p><p>...Meanwhile, <strong>Egypt, Saudi Arabia, the UAE, and Bahrain vowed to step up their punitive measures against Qatar<\/strong>, saying that Doha\u2019s rejection of their 13 demands is reflective of its commitment to destabilize the region, according to a <a href=\"http:\/\/www.spa.gov.sa\/viewfullstory.php?lang=ar&amp;newsid=1645710#1645710\">joint statement carried by the Saudi Press Agency<\/a>. <a href=\"https:\/\/www.state.gov\/r\/pa\/prs\/ps\/2017\/07\/272402.htm\">US Secretary of State Rex Tillerson<\/a> and UK Foreign Secretary Boris Johnson are currently playing shuttle diplomacy, <a href=\"http:\/\/www.reuters.com\/article\/us-gulf-qatar-johnson-idUSKBN19T0OG\">Reuters reports<\/a>.<\/p><p>UK\u2019s diplomacy since Brexit has certainly gone downhill. <strong>This is what its ambassador to Cairo <\/strong><a href=\"http:\/\/www.almalnews.com\/Story\/339169\/58\/%D9%88%D9%81%D8%AF-%D8%A8%D8%B1%D9%8A%D8%B7%D8%A7%D9%86%D9%89-%D9%8A%D8%B2%D9%88%D8%B1-%D9%85%D8%B5%D8%B1-%D9%84%D9%85%D8%AA%D8%A7%D8%A8%D8%B9%D8%A9-%D8%A3%D9%85%D9%86-%D9%88%D8%B3%D9%84%D8%A7%D9%85%D8%A9-%D8%A7%D9%84%D9%85%D8%B7%D8%A7%D8%B1%D8%A7%D8%AA\"><strong>John Casson told Al Mal<\/strong><\/a><strong> about our airports:<\/strong> <strong>Egypt has not yet fulfilled the necessary security procedures at airports to resume flights<\/strong>. He adds that there is progress and increased cooperation in intelligence between the two countries. So all the platitudes of friendship and improving ties and ending travel restrictions \u201csoon\u201d have yet to amount to anything more than haggis. A delegation is set to visit Egypt to follow up on airport safety measures within the next two weeks. <strong>UK tourists know better, with 1H17 seeing a 61% y-o-y increase in the number of nights spent by British tourists in Egypt<\/strong>, the ambassador said.<\/p><p><strong>The 4th Annual Mashable Social Media Day kicked off yesterday and is running till tomorrow at the Greek Campus<\/strong>, according to a <a href=\"https:\/\/enterprise.press\/wp-content\/uploads\/2017\/07\/4th-Mashable-Social-Media-Day.pdf\">press release<\/a>. Representatives from Facebook, Instagram, IBM Watson, Social Bakers, and Quintly are attending. Social Media Day is also providing participants with job opportunities through a partnership with Wuzzuf where they can apply for vacancies presented in an exhibition.<\/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\/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=\"644955\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">      \r\n<section id=\"advertiser\" class=\"enterprise-adv issue-section\">\r\n    <div class=\"issue-section__content\" style=\"flex-direction: column;\">\r\n  \r\n                <h4 class=\"wp-block-heading has-text-align-center has-normal-font-size\">\r\n                <span class=\"has-primary-color stk-highlight\">This publication is proudly sponsored by<\/span><\/h4>\r\n                \r\n\r\n                \r\n                <div class=\"wp-block-stackable-carousel alignwide stk-block-carousel stk--is-slide stk--infinite-scroll stk--arrows-justify-space-between stk--arrows-align-center stk-block stk-a38cfb2 sponsor-slider-container mb-0\" data-slides-to-show=\"3\" data-block-id=\"a38cfb2\"><style>.stk-a38cfb2 {--slides-to-show:3 !important;}.stk-a38cfb2 .stk-block-carousel__button{background:#00000099 !important;fill:#FFFFFF !important;border-radius:4px !important;}.stk-a38cfb2 .stk-block-carousel__button svg.ugb-custom-icon :is(g, path, rect, polygon, ellipse){fill:#FFFFFF !important;}<\/style>\r\n                <div class=\"stk-block-carousel__content-wrapper\">\r\n                <div class=\"stk-row stk-inner-blocks stk-block-content stk-block-carousel__slider-wrapper stk-content-align stk-a38cfb2-column alignwide\">\r\n                <div class=\"stk-block-carousel__slider\" role=\"list\" data-autoplay=\"4000\" data-label-slide-of=\"Slide %%d of %%d\">\r\n            <div class=\"wp-block-stackable-column stk-block-column stk-column stk-block stk-46c5f99\" data-v=\"4\" data-block-id=\"46c5f99\"><div class=\"stk-column-wrapper stk-block-column__content stk-container stk-46c5f99-container stk--no-background stk--no-padding\"><div class=\"stk-block-content stk-inner-blocks stk-46c5f99-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\/240922.png?ssl=1\">\r\n                <div class=\"overlay\"><\/div>\r\n                <div class=\"content\">\r\n                    <a draggable=\"false\" href=\"https:\/\/www.hsbc.com.eg\/\" 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class=\"issue-sponsor-slide\">\r\n                <img data-recalc-dims=\"1\" decoding=\"async\" draggable=\"false\" src=\"https:\/\/i0.wp.com\/ent.news\/internal\/240925.png?ssl=1\">\r\n                <div class=\"overlay\"><\/div>\r\n                <div class=\"content\">\r\n                    <a draggable=\"false\" href=\"https:\/\/weareinfinity.com\/\" target=\"_blank\" class=\"logo\" rel=\"noopener\">\r\n                        <img decoding=\"async\" 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-kb1g2di\" data-v=\"4\" data-block-id=\"kb1g2di\"><div class=\"stk-column-wrapper stk-block-column__content stk-container stk-kb1g2di-container stk--no-background stk--no-padding\"><div class=\"stk-block-content stk-inner-blocks stk-kb1g2di-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 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0l-22.667-22.667c-9.357-9.357-9.375-24.522-.04-33.901L188.505 256 34.484 101.255c-9.335-9.379-9.317-24.544.04-33.901l22.667-22.667c9.373-9.373 24.569-9.373 33.941 0L285.475 239.03c9.373 9.372 9.373 24.568.001 33.941z\"><\/path><\/svg><\/button><\/div><\/div><div class=\"stk-block-carousel__dots\" role=\"list\" data-label=\"Slide %%d\"><\/div><\/div><\/div>\r\n        <\/div>\r\n<\/section> \r\n\r\n\n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"644956\" 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=\"644956\">\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\">What We\u2019re Tracking This Week<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2017\/07\/09\/what-were-tracking-this-week-151\/\">\r\n                            What we\u2019re tracking this week                        <\/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\/2017\/07\/09\/what-were-tracking-this-week-151\/\" 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 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          <!-- <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\/2017\/07\/09\/what-were-tracking-this-week-151\/&title=What we\u2019re tracking this week\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=What+we%E2%80%99re+tracking+this+week+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2017%2F07%2F09%2Fwhat-were-tracking-this-week-151%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\/2017\/07\/09\/what-were-tracking-this-week-151\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-644956\" class=\"content-area-description single-story post-644956 post type-post status-publish format-standard hentry category-what-were-tracking-this-week tag-enterpriseam tag-what-were-tracking-this-week wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>A delegation from Poland\u2019s Pomeranian Special Economic Zone (PSEZ) will be in Egypt for a four-day visit to discuss establishing an industrial zone in the Suez Canal Economic Zone (SCZone)<\/strong>, <a href=\"http:\/\/www.shorouknews.com\/news\/view.aspx?cdate=08072017&id=e42e9e29-eb7a-440f-b7ee-8a5786bde78d\">Al Shorouk<\/a> reports. Delegation members are set to meet with Trade and Industry Minister Tarek Kabil and Suez Canal Economic Zone chairman Mohab Mamish. The SCZone had <a href=\"http:\/\/www.sis.gov.eg\/Story\/107807?lang=en-us\">signed an MoU<\/a> with the PSEZ in February to build the zone. Separately, a delegation of 250 Polish businessmen is set to accompany Polish President Andrzej Duda during his visit to Egypt during the second half of 2017, <a href=\"https:\/\/enterprise.press\/stories\/2017\/03\/12\/first-egyptian-turkish-business-forum-convenes-today\/\">we had noted<\/a>.<\/p>\n<p><strong>Private mobile network operators might be getting their letters this week to launch commercial 4G service operations<\/strong>, <a href=\"http:\/\/www.almalnews.com\/Story\/339355\/17\/%D9%85%D8%B5%D8%AF%D8%B1-%D8%A8%D8%A7%D9%84%D9%85%D8%AD%D9%85%D9%88%D9%84--%D8%A5%D8%B9%D8%A7%D8%AF%D8%A9-%D8%AA%D9%88%D8%B2%D9%8A%D8%B9-%D8%A7%D9%84%D8%AA%D8%B1%D8%AF%D8%AF%D8%A7%D8%AA-%D8%AA%D8%AA%D9%85-%D8%A8%D9%88%D8%AA%D9%8A%D8%B1%D8%A9-%D8%B3%D8%B1%D9%8A%D8%B9%D8%A9%E2%80%8E\">sources tell Al Mal<\/a>. MNOs received their 4G frequencies last month and are meant to run trial operations until next month while they geographically redistribute 2G and 3G frequencies.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/what-were-tracking-this-week\/\">What We\u2019re Tracking This Week<\/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=\"644957\" 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=\"644957\">\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\">ON THE HORIZON<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2017\/07\/09\/on-the-horizon-185\/\">\r\n                            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\/2017\/07\/09\/on-the-horizon-185\/\" 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\/2017\/07\/09\/on-the-horizon-185\/')\">\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\/2017\/07\/09\/on-the-horizon-185\/\">\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=On the horizon&url=https:\/\/enterpriseam.com\/egypt\/2017\/07\/09\/on-the-horizon-185\/\">\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\/2017\/07\/09\/on-the-horizon-185\/&title=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=On+the+horizon+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2017%2F07%2F09%2Fon-the-horizon-185%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\/2017\/07\/09\/on-the-horizon-185\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-644957\" class=\"content-area-description single-story post-644957 post type-post status-publish format-standard hentry category-on-the-horizon tag-enterpriseam tag-on-the-horizon wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>The Executive Regulations for the recently-passed Natural Gas Act will be completed by September<\/strong>, Petroleum Minister Tarek El Molla told the press on Thursday, <a href=\"http:\/\/www.almasryalyoum.com\/news\/details\/1158864\">according to AMAY<\/a>. The legislation, which passed the House of Representatives <a href=\"https:\/\/enterprise.press\/stories\/2017\/07\/06\/house-passes-natural-gas-act-mineral-resources-act\/\">last Wednesday<\/a>, is expected to deregulate the natural gas industry, allowing private sector participation and limiting the state\u2019s role to that of regulator.<\/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\/on-the-horizon\/\">ON THE HORIZON<\/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=\"644958\" 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=\"644958\">\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\">Enterprise+: Last Night\u2019s Talk Shows<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2017\/07\/09\/interest-rate-hikes-and-new-electricity-tariffs-dominate-the-debate\/\">\r\n                            Interest rate hikes and new electricity tariffs dominate the debate                        <\/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\/2017\/07\/09\/interest-rate-hikes-and-new-electricity-tariffs-dominate-the-debate\/\" 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\/2017\/07\/09\/interest-rate-hikes-and-new-electricity-tariffs-dominate-the-debate\/')\">\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\/2017\/07\/09\/interest-rate-hikes-and-new-electricity-tariffs-dominate-the-debate\/\">\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=Interest rate hikes and new electricity tariffs dominate the debate&url=https:\/\/enterpriseam.com\/egypt\/2017\/07\/09\/interest-rate-hikes-and-new-electricity-tariffs-dominate-the-debate\/\">\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\/2017\/07\/09\/interest-rate-hikes-and-new-electricity-tariffs-dominate-the-debate\/&title=Interest rate hikes and new electricity tariffs dominate the debate\">\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=Interest+rate+hikes+and+new+electricity+tariffs+dominate+the+debate+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2017%2F07%2F09%2Finterest-rate-hikes-and-new-electricity-tariffs-dominate-the-debate%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\/2017\/07\/09\/interest-rate-hikes-and-new-electricity-tariffs-dominate-the-debate\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-644958\" class=\"content-area-description single-story post-644958 post type-post status-publish format-standard hentry category-enterprise-last-nights-talk-shows tag-enterprise-last-nights-talk-shows tag-enterpriseam wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p>As expected, t<strong>he CBE\u2019s decision to hike interest rates by 200 bps last Thursday and the increase in electricity prices <\/strong>were the main topics of debate on the airwaves last night.<\/p>\n<p><strong>Hona Al Asema\u2019s Lamees Al Hadidi moderated a debate on the interest rate hike<\/strong> <strong>between veteran economist Hany Genena and Union Capital Executive Chairman Hany Tawfik.<\/strong><\/p>\n<p><strong>The CBE is moving in the right direction trying to curb inflation,<\/strong> said Genena in wholehearted support for the decision. He explained that for the first time the bank officially actually said that the hike was only a temporary means to an end. He advised trusting the CBE.<\/p>\n<p><strong>On the other hand, Union Capital\u2019s Tawfik described the hike as \u201ccatastrophic.\u201d<\/strong> He argued that it will deter investments and not aid in reducing inflation but actually do the opposite. Regardless of what the CBE does, inflation levels will fall to a 13-15% average by end of 2018 as the effects of the EGP float subside.<\/p>\n<p><strong>Domty Vice Chairman Mohamed El Damaty was of the same mind, <\/strong>saying that the unexpected move to hike interest rates will certainly add to manufacturers\u2019 burdens and likely drive inflation levels up and sales down. The head of the Federation of Egyptian Industries\u2019 food industries division also agreed, telling Lamees that demand for products has already dropped some 25-30% (<a href=\"https:\/\/www.youtube.com\/watch?v=q071nqrXkt4\">Watch the full debate<\/a>, runtime 42:41)<\/p>\n<p><strong>Lamees then moved on to talk about the issue with Vodafone\u2019s Qatar subsidiary changed its name to \u201cGlorious Tamim<\/strong>.\u201d Vodafone Qatar is 70% owned by the Qatari royal family, Vodafone Egypt Chairman Hany Mahmoud told Lamees, explaining that the <strong>Vodafone Group, <\/strong>which owns a 23% minority stake in its Qatari operation,<strong> was just as surprised by the campaign as everyone else<\/strong> (<a href=\"https:\/\/www.youtube.com\/watch?v=vePRyuFivsE\">watch<\/a>, runtime 5:21).<\/p>\n<p><strong>Lamees also spoke to Suez Canal Authority chief Mohab Mamish,<\/strong> who said that a decision was issued earlier in the day to allow Qatari ships to cross the Suez Canal but not stop at any domestic ports (<a href=\"https:\/\/www.youtube.com\/watch?v=Zif7lFlAB5w\">watch<\/a>, runtime 4:54).<\/p>\n<p><strong>On Kol Youm, Amr Adib was all about the new power prices<\/strong>. Electricity Minister Mohamed Shaker told Adib that the lowest consumption tiers are still seeing subsidies 4-5x higher than the cost of production (<a href=\"https:\/\/www.youtube.com\/watch?v=HiU7waRU3U0\">watch<\/a>, runtime 1:41), while the highest tiers are no longer being subsidized, explaining to the host that 60% of users pay no more than EGP 60 a month for power (<a href=\"https:\/\/www.youtube.com\/watch?v=IvAreAojIT0\">watch<\/a>, runtime 1:51).<\/p>\n<p><strong>The tariffs will decline if the EGP continues to strengthen, <\/strong>Shaker also noted. He also told Adib that the ministry will be switching all users to prepaid or smart meters over the coming five years, explaining that users who have already converted have cut back their consumption significantly (<a href=\"https:\/\/www.youtube.com\/watch?v=6kN7oB7XR6Y\">watch<\/a>, runtime 5:08).<\/p>\n<p><strong>Meanwhile on Masaa DMC, host Eman El Hosary covered the attack against military forces in North Sinai<\/strong> that left at least 26 dead and injured. The State Information Service intends to issue a comprehensive statement on the attack detailing the full story in order to debunk rumors, SIS chief Diaa Rashwan said (<a href=\"https:\/\/www.youtube.com\/watch?v=ctkquExghnA\">watch<\/a>, runtime: 7:49).<\/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\/enterprise-last-nights-talk-shows\/\">Enterprise+: Last Night\u2019s Talk Shows<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"644959\" 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=\"644959\">\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\">Speed Round<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2017\/07\/09\/cbe-raises-interest-rates-200-bps\/\">\r\n                            CBE raises interest rates 200 bps                        <\/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\/2017\/07\/09\/cbe-raises-interest-rates-200-bps\/\" 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\/2017\/07\/09\/cbe-raises-interest-rates-200-bps\/')\">\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\/2017\/07\/09\/cbe-raises-interest-rates-200-bps\/\">\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=CBE raises interest rates 200 bps&url=https:\/\/enterpriseam.com\/egypt\/2017\/07\/09\/cbe-raises-interest-rates-200-bps\/\">\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\/2017\/07\/09\/cbe-raises-interest-rates-200-bps\/&title=CBE raises interest rates 200 bps\">\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=CBE+raises+interest+rates+200+bps+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2017%2F07%2F09%2Fcbe-raises-interest-rates-200-bps%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\/2017\/07\/09\/cbe-raises-interest-rates-200-bps\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-644959\" class=\"content-area-description single-story post-644959 post type-post status-publish format-standard hentry category-speed-round tag-enterpriseam 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> <strong>The CBE\u2019s Monetary Policy Committee decided to raise interest rates by another 200 bps in its meeting last Thursday<\/strong>, marking the third such interest rate hike since the EGP float and a 700 bps increase in borrowing costs since then. The overnight deposit rate was raised to 18.75% from 16.75%, while the overnight lending rate increased 19.75% from 17.75%. The CBE\u2019s main operation rate grew to 19.25% and the discount rate was also raised to 19.75% from 17.75%, according to <a href=\"http:\/\/www.cbe.org.eg\/en\/Pages\/HighlightsPages\/MPC-Press-release-July-6-2017.aspx\">a statement from the CBE<\/a>.<\/p>\n<p><strong>Fuel, electricity hikes to blame: <\/strong>\"Higher prices of hydrocarbon products effective June 29, 2017, higher value added taxes effective July 1, 2017, higher electricity prices scheduled for July 2017, as well as other potential regulated price adjustments further increase inflationary pressure,\" the central bank said, justifying the move. Fuel prices were raised an average 55% late last month, and the government had moved electricity prices last week. Vice Minister of Finance Ahmed Kouchouk <a href=\"https:\/\/enterprise.press\/stories\/2017\/07\/04\/private-sector-hikes-prices-in-response-to-the-fuel-subsidy-cuts\/\">had projected inflation would rise 3-4.5%<\/a> as a result of the fuel hikes. <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2017-07-06\/egypt-unexpectedly-raises-interest-rates-by-200-basis-points\">Bloomberg notes the IMF\u2019s hand<\/a> in this and last May\u2019s interest rate hike as well.<\/p>\n<p><strong>The measure is only temporary:<\/strong> The CBE added that the necessary measures will be taken to lower inflation to 13% by the end of next year, and that the bank envisages \u201ca measured easing of the monetary stance\u201d as soon as underlying inflation begins to slow. \"We expect the interest rate decision to be a temporary measure to target inflation,\" <a href=\"http:\/\/www.reuters.com\/article\/egypt-cenbank-rates-idUSL8N1JZ08D\">Vice Minister of Finance Mohamed Maait told Reuters<\/a>. \"We expect inflation to fall in early 2018 and thus (we can) begin cutting interest rates.\" Government sources have reiterated that the move was temporary in <a href=\"http:\/\/www.almasryalyoum.com\/news\/details\/1159226\">statements to Al Masry Al Youm<\/a>.<\/p>\n<p><strong>Impact on the FY2017-18 budget: <\/strong>This latest rate hike, and the 200 bps hike from last May, were not taken into account in the FY2017-18, which parliament passed last week, said Maait. The interest on current and future debt was calculated at EGP 381 bn, Maait tells Reuters. He expected adjustments to that figure in the light of the change in borrowing costs. <a href=\"http:\/\/www.almalnews.com\/Story\/339257\/14\/%D9%A3%D9%A0-%D9%85%D9%84%D9%8A%D8%A7%D8%B1-%D8%AC%D9%86%D9%8A%D9%87-%D8%B2%D9%8A%D8%A7%D8%AF%D8%A9-%D9%81%D9%89-%D8%B9%D8%AC%D8%B2-%D8%A7%D9%84%D9%85%D9%88%D8%A7%D8%B2%D9%86%D8%A9-%D8%A8%D8%B3%D8%A8%D8%A8-%D8%B1%D9%81%D8%B9-%D8%A7%D9%84%D9%81%D8%A7%D8%A6%D8%AF%D8%A9--\">Sources from the Finance Ministry tell Al Mal<\/a> that the latest hike could raise the budget deficit by another EGP 30 bn. The budget, which has yet to be ratified by President Abdel Fattah El Sisi, projects a budget deficit of EGP 370 bn.<\/p>\n<p><strong>\u201cThe impact of [Thursday\u2019s] hike would be diluted as banks are unlikely to pass it on to their deposit and savings rate,\u201d <\/strong>said CI Capital\u2019s Hany Farahat \u2014 the sole economist polled by Reuters and Bloomberg to predict the hike was coming. Banque Misr Chairman Mohamed El Etreby announced that his bank would hold interest rates on 20%-yielding deposit certificates, <a href=\"http:\/\/www.almasryalyoum.com\/news\/details\/1159593\">according to Al Masry Al Youm<\/a>. Top state-owned banks will await until their Alco (assets and liabilities committees) meetings this week to determine how they will move as a result of the hike, <a href=\"http:\/\/www.youm7.com\/story\/2017\/7\/6\/%D8%A7%D8%AC%D8%AA%D9%85%D8%A7%D8%B9%D8%A7%D8%AA-%D8%A8%D8%A7%D9%84%D8%A8%D9%86%D9%88%D9%83-%D8%A7%D9%84%D8%A3%D8%B3%D8%A8%D9%88%D8%B9-%D8%A7%D9%84%D9%85%D9%82%D8%A8%D9%84-%D9%84%D8%A8%D8%AD%D8%AB-%D8%AA%D8%AD%D8%B1%D9%8A%D9%83-%D8%A3%D8%B3%D8%B9%D8%A7%D8%B1-%D8%A7%D9%84%D9%81%D8%A7%D8%A6%D8%AF%D8%A9-%D8%B9%D9%84%D9%89-%D8%A7%D9%84%D9%88%D8%AF%D8%A7%D8%A6%D8%B9\/3314618\">Youm7 reports<\/a>. Farahat notes that the hikes will have a very minimal impact on inflation.<\/p>\n<p><strong>Egypt\u2019s business sector, still reeling from last May\u2019s 200 bps hike, denounced the move.<\/strong> \u201cThe [latest] interest rate hikes will have a negative impact on consumer prices in the coming period,\u201d said the head of the food industries division of the Federation of Egyptian Industries (FEI), Ashraf El Gazayerli. He <a href=\"http:\/\/www.almalnews.com\/Story\/339298\/14\/%D8%A7%D9%84%D8%B5%D9%86%D8%A7%D8%B9%D8%A7%D8%AA-%D8%A7%D9%84%D8%BA%D8%B0%D8%A7%D8%A6%D9%8A%D8%A9--%D8%B1%D9%81%D8%B9-%D8%A7%D9%84%D9%81%D8%A7%D8%A6%D8%AF%D8%A9-%D9%8A%D8%B2%D9%8A%D8%AF-%D8%A3%D8%B3%D8%B9%D8%A7%D8%B1-%D8%A7%D9%84%D9%85%D9%86%D8%AA%D8%AC%D8%A7%D8%AA-%D9%88%D8%AA%D9%83%D9%84%D9%81%D8%A9-%D8%A7%D9%84%D8%A7%D8%B3%D8%AA%D8%AB%D9%85%D8%A7%D8%B1\">tells Al Mal<\/a> that raising borrowing costs will be passed on to the consumer. The interest rate increase \"will have a devastating impact on industry (in general) and the pharmaceutical sector,\" SEDICO Pharmaceutical Company CEO Hossam Aboul El Enein <a href=\"http:\/\/www.reuters.com\/article\/egypt-cenbank-rates-idUSL8N1JZ08D\">tells Reuters<\/a>. Top executives from Fancy Food, Spinney\u2019s Egypt, and Universal Group <a href=\"http:\/\/www.almalnews.com\/Story\/339372\/14\/%D8%B2%D9%8A%D8%A7%D8%AF%D8%A9-%D8%A7%D9%84%D9%81%D8%A7%D8%A6%D8%AF%D8%A9-%D8%AA%D8%AF%D9%81%D8%B9-%D9%85%D8%B5%D8%A7%D9%86%D8%B9-%D9%84%D8%A5%D8%B1%D8%AC%D8%A7%D8%A1-%D8%AA%D9%88%D8%B3%D8%B9%D8%A7%D8%AA%D9%87%D8%A7\">also took to the pages of Al Mal<\/a> to raise their concerns about the interest rate hikes. Some are projecting inflation to rise 5-7% while others are saying that the move may lead to further cuts in CAPEX.<\/p>\n<p><strong>Banking sector heads who spoke up relayed a more positive message.<\/strong> National Bank of Egypt President Hisham Okasha defended the move, saying it was necessary to keep inflation resulting from the price increases in fuel and electricity at bay, <a href=\"http:\/\/www.almasryalyoum.com\/news\/details\/1159230\">AMAY reports<\/a>. Other banking sector executives to come out praising the move include <a href=\"http:\/\/www.almasryalyoum.com\/news\/details\/1159832\">Emirates NBD\u2019s Deputy Managing Director Sahar El Damaty<\/a>, and <a href=\"http:\/\/www.shorouknews.com\/news\/view.aspx?cdate=07072017&id=2256fca8-ef83-488a-bc20-2e6c74ba7a4d\">Suez Canal Bank president Hassan Refai<\/a>.<\/p>\n<p>Meanwhile, <strong>MPs of the Support Egypt Coalition are calling for an urgent party meeting to discuss the interest rate hikes and its impact on industry<\/strong>. They are also requesting that a special session to probe the hikes be taken, <a href=\"http:\/\/www.shorouknews.com\/news\/view.aspx?cdate=08072017&id=fde5c562-527f-41c6-9ded-ea53a3affb4b\">Al Shorouk reports<\/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\/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=\"644972\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"644973\" 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=\"644973\">\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\">THE MACRO PICTURE<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2017\/07\/09\/tourism-arrivals-in-africa-up-6\/\">\r\n                            Tourism arrivals in Africa up 6%                        <\/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\/2017\/07\/09\/tourism-arrivals-in-africa-up-6\/\" 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\/2017\/07\/09\/tourism-arrivals-in-africa-up-6\/')\">\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\/2017\/07\/09\/tourism-arrivals-in-africa-up-6\/\">\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=Tourism arrivals in Africa up 6%&url=https:\/\/enterpriseam.com\/egypt\/2017\/07\/09\/tourism-arrivals-in-africa-up-6\/\">\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\/2017\/07\/09\/tourism-arrivals-in-africa-up-6\/&title=Tourism arrivals in Africa up 6%\">\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=Tourism+arrivals+in+Africa+up+6%25+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2017%2F07%2F09%2Ftourism-arrivals-in-africa-up-6%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\/2017\/07\/09\/tourism-arrivals-in-africa-up-6\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-644973\" class=\"content-area-description single-story post-644973 post type-post status-publish format-standard hentry category-the-macro-picture tag-enterpriseam tag-the-macro-picture wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><a class=\"content-anchor\" id=\"tldr-story-07\"><\/a> <strong>Tourist arrivals to Africa are growing by 6% on average each year<\/strong>, according to <a href=\"http:\/\/unctad.org\/en\/pages\/PressRelease.aspx?OriginalVersionID=414\">a report by UNCTAD<\/a>. \u201cNorthern Africa is the main draw for international tourists as it received almost half of total international arrivals in Africa between 2011-14,\u201d the report states. Despite political and security challenges, <strong>Egypt led the continent in tourist arrivals with 9.9 mn visitors during the period<\/strong>, followed by Morocco with 9.8 mn, South Africa with 9.2 mn, and Tunisia with 6.8 mn \u2014 together accounting for more than 60% of Africa\u2019s 2011-14 arrivals. Setbacks also failed to deter the continent\u2019s tourism export revenues, which grew to USD 47 bn between 2011-14 from USD 41 bn between 2005-08.<\/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-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=\"644974\" 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=\"644974\">\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\/2017\/07\/09\/gaza-fuel-cuts-rafah-attack-top-coverage-of-egypt\/\">\r\n                            Gaza fuel cuts, Rafah attack top coverage of 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\/2017\/07\/09\/gaza-fuel-cuts-rafah-attack-top-coverage-of-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\/2017\/07\/09\/gaza-fuel-cuts-rafah-attack-top-coverage-of-egypt\/')\">\n                    Copy Link                <\/a>\n\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https:\/\/enterpriseam.com\/egypt\/2017\/07\/09\/gaza-fuel-cuts-rafah-attack-top-coverage-of-egypt\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=Gaza fuel cuts, Rafah attack top coverage of Egypt&url=https:\/\/enterpriseam.com\/egypt\/2017\/07\/09\/gaza-fuel-cuts-rafah-attack-top-coverage-of-egypt\/\">\n                    X                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/twitter-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/shareArticle?mini=true&url=https:\/\/enterpriseam.com\/egypt\/2017\/07\/09\/gaza-fuel-cuts-rafah-attack-top-coverage-of-egypt\/&title=Gaza fuel cuts, Rafah attack top coverage of 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=Gaza+fuel+cuts%2C+Rafah+attack+top+coverage+of+Egypt+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2017%2F07%2F09%2Fgaza-fuel-cuts-rafah-attack-top-coverage-of-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\/2017\/07\/09\/gaza-fuel-cuts-rafah-attack-top-coverage-of-egypt\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-644974\" class=\"content-area-description single-story post-644974 post type-post status-publish format-standard hentry category-egypt-in-the-news tag-egypt-in-the-news tag-enterpriseam wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>Topping coverage of Egypt in the foreign press this morning is news of Egypt cutting fuel supplies to the Gaza strip<\/strong> after the Palestinian Authority slashed payments for the fuel. Outlets <a href=\"http:\/\/www.aljazeera.com\/news\/2017\/07\/power-hit-gaza-lack-fuel-payment-egypt-170708183330235.html\">including Al Jazeera<\/a> are noting accusations by Hamas officials that the move squeezes Hamas further.<\/p>\n<p><strong>In a surprising close second place are <\/strong><a href=\"https:\/\/www.washingtonpost.com\/world\/middle_east\/is-claims-attack-in-egypts-sinai-that-killed-23-soldiers\/2017\/07\/08\/e6136c4c-639c-11e7-80a2-8c226031ac3f_story.html?utm_term=.714762db4be7\"><strong>wire pickups<\/strong><\/a><strong> of last Friday\u2019s attack in Rafah<\/strong>, which left 23 Egyptian security personnel dead. Foreign outlets, including <a href=\"https:\/\/www.theatlantic.com\/news\/archive\/2017\/07\/isis-claims-responsibility-for-attack-on-egyptian-soldiers\/533043\/\">The Atlantic<\/a>, are calling the attack the deadliest in the Sinai peninsula in over two years. They also note that this appears to be a return in Daesh\u2019s strategy to attack security after it shifted focus to attack Coptic Christians.<\/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\/egypt-in-the-news\/\">Egypt in the News<\/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=\"644978\" 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=\"644978\">\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\">On Deadline<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2017\/07\/09\/the-winners-and-losers-of-interest-rate-hikes\/\">\r\n                            The winners and losers of interest rate hikes                        <\/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\/2017\/07\/09\/the-winners-and-losers-of-interest-rate-hikes\/\" 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\/2017\/07\/09\/the-winners-and-losers-of-interest-rate-hikes\/')\">\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\/2017\/07\/09\/the-winners-and-losers-of-interest-rate-hikes\/\">\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 winners and losers of interest rate hikes&url=https:\/\/enterpriseam.com\/egypt\/2017\/07\/09\/the-winners-and-losers-of-interest-rate-hikes\/\">\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\/2017\/07\/09\/the-winners-and-losers-of-interest-rate-hikes\/&title=The winners and losers of interest rate hikes\">\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+winners+and+losers+of+interest+rate+hikes+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2017%2F07%2F09%2Fthe-winners-and-losers-of-interest-rate-hikes%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\/2017\/07\/09\/the-winners-and-losers-of-interest-rate-hikes\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-644978\" class=\"content-area-description single-story post-644978 post type-post status-publish format-standard hentry category-on-deadline tag-enterpriseam tag-on-deadline wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>There is more to lose than win after the CBE\u2019s decision to hike interest rates, <\/strong>Abbas El Tarabily <a href=\"http:\/\/www.almasryalyoum.com\/news\/details\/1159372\">writes in a Nasserist, anti-capitalist piece for AMAY<\/a>. While the government is likely to warmly receive the move, as it will lure more funds into the banking system, it fails to consider the fact that higher rates mean higher investment costs, unemployment rates, and increased product prices, not to mention, hampered exports. The only winners, says Tarabily, \u201care the lazy businessmen looking for safe and easy returns on their investments.\u201d We wonder why we bother with this section sometimes.<\/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\/on-deadline\/\">On Deadline<\/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=\"644979\" 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=\"644979\">\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\">Worth watching<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2017\/07\/09\/egypt-approves-usd-22-mn-plan-to-restore-alexandria-synagogue\/\">\r\n                            Egypt approves USD 22 mn plan to restore Alexandria synagogue                        <\/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\/2017\/07\/09\/egypt-approves-usd-22-mn-plan-to-restore-alexandria-synagogue\/\" 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\/2017\/07\/09\/egypt-approves-usd-22-mn-plan-to-restore-alexandria-synagogue\/')\">\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\/2017\/07\/09\/egypt-approves-usd-22-mn-plan-to-restore-alexandria-synagogue\/\">\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 approves USD 22 mn plan to restore Alexandria synagogue&url=https:\/\/enterpriseam.com\/egypt\/2017\/07\/09\/egypt-approves-usd-22-mn-plan-to-restore-alexandria-synagogue\/\">\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\/2017\/07\/09\/egypt-approves-usd-22-mn-plan-to-restore-alexandria-synagogue\/&title=Egypt approves USD 22 mn plan to restore Alexandria synagogue\">\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+approves+USD+22+mn+plan+to+restore+Alexandria+synagogue+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2017%2F07%2F09%2Fegypt-approves-usd-22-mn-plan-to-restore-alexandria-synagogue%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\/2017\/07\/09\/egypt-approves-usd-22-mn-plan-to-restore-alexandria-synagogue\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2017\/7\/894.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"644980\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2017\/07\/09\/egypt-approves-usd-22-mn-plan-to-restore-alexandria-synagogue\/894-jpg-5\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2017\/7\/894.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"894.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2017\/7\/894.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2017\/7\/894.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-644979\" class=\"content-area-description single-story post-644979 post type-post status-publish format-standard has-post-thumbnail hentry category-worth-watching tag-enterpriseam tag-worth-watching wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>Egypt will be restoring Alexandria's single active synagogue for USD 22 mn at the state\u2019s expense<\/strong>, <a href=\"http:\/\/www.haaretz.com\/middle-east-news\/egypt\/1.800216\">according to Haaretz<\/a>. The 160-year-old <a href=\"https:\/\/www.youtube.com\/watch?v=tly_LehYAbI\">Eliyahu Hanavi Synagogue<\/a> (runtime 7:32), one of the largest in the Middle East with the capacity to seat over 700 people, closed a few months ago after a part of its ceiling collapsed.<\/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\/worth-watching\/\">worth watching<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"644981\" 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=\"644981\">\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\">Diplomacy + Foreign Trade<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2017\/07\/09\/egypt-is-among-over-120-countries-to-adopt-first-treaty-banning-nuclear-weapons\/\">\r\n                            Egypt is among over 120 countries to adopt first treaty banning nuclear weapons                        <\/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\/2017\/07\/09\/egypt-is-among-over-120-countries-to-adopt-first-treaty-banning-nuclear-weapons\/\" 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\/2017\/07\/09\/egypt-is-among-over-120-countries-to-adopt-first-treaty-banning-nuclear-weapons\/')\">\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\/2017\/07\/09\/egypt-is-among-over-120-countries-to-adopt-first-treaty-banning-nuclear-weapons\/\">\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 is among over 120 countries to adopt first treaty banning nuclear weapons&url=https:\/\/enterpriseam.com\/egypt\/2017\/07\/09\/egypt-is-among-over-120-countries-to-adopt-first-treaty-banning-nuclear-weapons\/\">\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\/2017\/07\/09\/egypt-is-among-over-120-countries-to-adopt-first-treaty-banning-nuclear-weapons\/&title=Egypt is among over 120 countries to adopt first treaty banning nuclear weapons\">\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+is+among+over+120+countries+to+adopt+first+treaty+banning+nuclear+weapons+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2017%2F07%2F09%2Fegypt-is-among-over-120-countries-to-adopt-first-treaty-banning-nuclear-weapons%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\/2017\/07\/09\/egypt-is-among-over-120-countries-to-adopt-first-treaty-banning-nuclear-weapons\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-644981\" class=\"content-area-description single-story post-644981 post type-post status-publish format-standard hentry category-diplomacy-foreign-trade tag-diplomacy-foreign-trade tag-enterpriseam wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>Egypt was one of 122 countries to nod to the first-ever treaty banning nuclear weapons<\/strong> at a UN meeting Friday, <a href=\"https:\/\/www.washingtonpost.com\/world\/the_americas\/first-treaty-banning-nuclear-weapons-expected-to-be-adopted\/2017\/07\/07\/a3a2a572-62c9-11e7-80a2-8c226031ac3f_story.html?utm_term=.76517702f4c7\">according to the AP<\/a>. Iran, Iraq, Qatar, and Saudi Arabia also voted for the treaty, which will be open for signature in September and come into effect once signed by 50 nations. The UN ambassadors for the US, UK, and France said in a joint statement that their countries will never be a part of the treaty and were among those to boycott the Friday meeting.<\/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\/diplomacy-foreign-trade\/\">Diplomacy + Foreign Trade<\/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=\"644983\" 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=\"644983\">\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\">Tourism<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2017\/07\/09\/germanys-fit-increases-flights-to-egypt-first-flight-operated-to-hurghada-from-paris\/\">\r\n                            Germany\u2019s FIT increases flights to Egypt, first flight operated to Hurghada from Paris                        <\/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\/2017\/07\/09\/germanys-fit-increases-flights-to-egypt-first-flight-operated-to-hurghada-from-paris\/\" 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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FIT\u2019s French subsidiary, FIT Voyages, operated the first Paris-Hurghada <a href=\"http:\/\/www.shorouknews.com\/news\/view.aspx?cdate=06072017&id=ecffc0f6-b096-4d24-8f4c-c8d458376e57%20\">trip last Friday<\/a> and should be doing three trips a week starting the second half of July. A new weekly flight from Slovenia to Hurghada will also start this week, while flights from Bulgaria should start coming in by September, Okda says.<\/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\/tourism\/\">tourism<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"644984\" 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=\"644984\">\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\">Automotive + Transportation<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2017\/07\/09\/trade-ministry-to-hire-outside-consultancy-to-help-with-the-automotive-directive\/\">\r\n                            Trade Ministry to hire outside consultancy to help with the automotive directive                        <\/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\/2017\/07\/09\/trade-ministry-to-hire-outside-consultancy-to-help-with-the-automotive-directive\/\" 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\/2017\/07\/09\/trade-ministry-to-hire-outside-consultancy-to-help-with-the-automotive-directive\/')\">\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\/2017\/07\/09\/trade-ministry-to-hire-outside-consultancy-to-help-with-the-automotive-directive\/\">\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=Trade Ministry to hire outside consultancy to help with the automotive directive&url=https:\/\/enterpriseam.com\/egypt\/2017\/07\/09\/trade-ministry-to-hire-outside-consultancy-to-help-with-the-automotive-directive\/\">\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\/2017\/07\/09\/trade-ministry-to-hire-outside-consultancy-to-help-with-the-automotive-directive\/&title=Trade Ministry to hire outside consultancy to help with the automotive directive\">\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=Trade+Ministry+to+hire+outside+consultancy+to+help+with+the+automotive+directive+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2017%2F07%2F09%2Ftrade-ministry-to-hire-outside-consultancy-to-help-with-the-automotive-directive%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\/2017\/07\/09\/trade-ministry-to-hire-outside-consultancy-to-help-with-the-automotive-directive\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-644984\" class=\"content-area-description single-story post-644984 post type-post status-publish format-standard hentry category-automotive-transportation tag-automotive-transportation tag-enterpriseam wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p>The Trade and Industry Ministry will be hiring a German consultant to help with the automotive directive, Trade Minister Tarek Kabil told the press on Thursday, <a href=\"http:\/\/www.youm7.com\/story\/2017\/7\/6\/%D8%A7%D9%84%D8%B5%D9%86%D8%A7%D8%B9%D8%A9-%D9%86%D8%AA%D8%B9%D8%A7%D9%82%D8%AF-%D9%85%D8%B9-%D8%AE%D8%A8%D9%8A%D8%B1-%D8%A3%D9%84%D9%85%D8%A7%D9%86%D9%89-%D9%84%D9%84%D9%85%D8%B3%D8%A7%D9%87%D9%85%D8%A9-%D9%81%D9%89-%D8%B5%D9%8A%D8%A7%D8%BA%D8%A9-%D8%A7%D8%B3%D8%AA%D8%B1%D8%A7%D8%AA%D9%8A%D8%AC%D9%8A%D8%A9-%D8%A7%D9%84%D8%B3%D9%8A%D8%A7%D8%B1%D8%A7%D8%AA\/3313785\">according to Youm7<\/a>. He does not specify what this help will be, but stated that this mystery consultant had helped Morocco develop its industry. The legislation \u2014 which offers incentives to encourage local assemblers to move further up the value chain into manufacturing \u2014 has been in a <a href=\"https:\/\/enterprise.press\/stories\/2017\/07\/02\/draft-automotive-directive-to-be-ready-in-the-near-future-eama-head\/\">deadlock for several months<\/a> due to opposition from car importers and the EU. The ministry has been in talks with the opposing side trying to iron out the kinks.<\/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-transportation\/\">Automotive + Transportation<\/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=\"644985\" 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=\"644985\">\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\">Banking + Finance<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2017\/07\/09\/cbe-grants-10-banks-licenses-for-electronic-banking-operations\/\">\r\n                            CBE grants 10 banks licenses for electronic banking operations                        <\/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\/2017\/07\/09\/cbe-grants-10-banks-licenses-for-electronic-banking-operations\/\" 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\/2017\/07\/09\/cbe-grants-10-banks-licenses-for-electronic-banking-operations\/')\">\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\/2017\/07\/09\/cbe-grants-10-banks-licenses-for-electronic-banking-operations\/\">\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=CBE grants 10 banks licenses for electronic banking operations&url=https:\/\/enterpriseam.com\/egypt\/2017\/07\/09\/cbe-grants-10-banks-licenses-for-electronic-banking-operations\/\">\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\/2017\/07\/09\/cbe-grants-10-banks-licenses-for-electronic-banking-operations\/&title=CBE grants 10 banks licenses for electronic banking operations\">\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=CBE+grants+10+banks+licenses+for+electronic+banking+operations+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2017%2F07%2F09%2Fcbe-grants-10-banks-licenses-for-electronic-banking-operations%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\/2017\/07\/09\/cbe-grants-10-banks-licenses-for-electronic-banking-operations\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-644985\" class=\"content-area-description single-story post-644985 post type-post status-publish format-standard hentry category-banking-finance tag-banking-finance tag-enterpriseam wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p>The Central Bank has awarded e-banking licenses to 10 banks, Assistant Sub-governor Ayman Hussein told the press this weekend without naming the banks, <a href=\"http:\/\/www.almasryalyoum.com\/news\/details\/1159557\">AMAY reports<\/a>. The government has been working on a mobile payments strategy as part of its financial inclusion efforts, forming the National Payments Council <a href=\"https:\/\/enterprise.press\/stories\/2017\/01\/17\/supreme-investment-council-orders-the-establishment-of-national-payments-council\/\">earlier this year<\/a> for that purpose.<\/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\/banking-finance\/\">BANKING + FINANCE<\/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=\"644986\" 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=\"644986\">\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\/2017\/07\/09\/48-egyptian-illegal-workers-die-crossing-into-libya\/\">\r\n                            48 Egyptian illegal workers die crossing into Libya                        <\/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\/2017\/07\/09\/48-egyptian-illegal-workers-die-crossing-into-libya\/\" 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\/2017\/07\/09\/48-egyptian-illegal-workers-die-crossing-into-libya\/')\">\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\/2017\/07\/09\/48-egyptian-illegal-workers-die-crossing-into-libya\/\">\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=48 Egyptian illegal workers die crossing into Libya&url=https:\/\/enterpriseam.com\/egypt\/2017\/07\/09\/48-egyptian-illegal-workers-die-crossing-into-libya\/\">\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\/2017\/07\/09\/48-egyptian-illegal-workers-die-crossing-into-libya\/&title=48 Egyptian illegal workers die crossing into Libya\">\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=48+Egyptian+illegal+workers+die+crossing+into+Libya+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2017%2F07%2F09%2F48-egyptian-illegal-workers-die-crossing-into-libya%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\/2017\/07\/09\/48-egyptian-illegal-workers-die-crossing-into-libya\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-644986\" class=\"content-area-description single-story post-644986 post type-post status-publish format-standard hentry category-on-your-way-out tag-enterpriseam wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>The bodies of 48 Egyptian workers trying to illegally cross the border into Libya were found in the desert on Friday<\/strong>, <a href=\"https:\/\/www.libyaherald.com\/2017\/07\/08\/forty-eight-egyptian-illegal-workers-die-crossing-into-libya\/\">according to the Libya Herald<\/a>. The Libyan Red Crescent has so far recovered 19 of the bodies, of whom seven have been identified, the Egyptian <a href=\"http:\/\/www.shorouknews.com\/news\/view.aspx?cdate=08072017&id=f4cfeb0f-f5c2-4096-98f0-72fcc25f1c16\">Foreign Ministry said<\/a>. The ministry is working on returning the bodies and continues to follow up with Libyan authorities to identify the rest.<\/p>\n<p><strong>Also near the Libyan border on Friday<\/strong>, three Egyptians were reportedly accidentally killed in a military air strike, <a href=\"https:\/\/www.washingtonpost.com\/world\/middle_east\/families-say-3-egyptian-engineers-killed-by-army-helicopter\/2017\/07\/07\/830e4a46-6314-11e7-80a2-8c226031ac3f_story.html?utm_term=.55454372b3ec\">AP says<\/a>, noting that \u201cit was not the first time civilians have been killed in Egypt\u2019s fight against Islamic insurgents near the Libyan border.\u201d Egypt\u2019s military is yet to formally comment on the incident.<\/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<section id=\"644987\" 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=\"644987\">\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 MARKETS YESTERDAY<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2017\/07\/09\/by-the-numbers-10\/\">\r\n                            BY THE NUMBERS                        <\/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\/2017\/07\/09\/by-the-numbers-10\/\" 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\/2017\/07\/09\/by-the-numbers-10\/')\">\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\/2017\/07\/09\/by-the-numbers-10\/\">\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=BY THE NUMBERS&url=https:\/\/enterpriseam.com\/egypt\/2017\/07\/09\/by-the-numbers-10\/\">\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\/2017\/07\/09\/by-the-numbers-10\/&title=BY THE NUMBERS\">\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=BY+THE+NUMBERS+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2017%2F07%2F09%2Fby-the-numbers-10%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\/2017\/07\/09\/by-the-numbers-10\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-644987\" class=\"content-area-description single-story post-644987 post type-post status-publish format-standard hentry category-the-markets-yesterday tag-enterpriseam tag-the-markets-yesterday wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t\n<p><strong>EGP \/ USD CBE market average: <\/strong>Buy 17.8382 | Sell 17.9376<\/p>\n<p><strong>EGP \/ USD at CIB:<\/strong> Buy 17.86 | Sell 17.96<\/p>\n<p><strong>EGP \/ USD at NBE: <\/strong>Buy 17.82 | Sell 17.92<\/p>\n<p><strong>EGX30<\/strong> (Thursday): 13,369 (+0.3%)<br \/>\n <strong>Turnover:<\/strong> EGP 975 mn (33% below the 90-day average)<br \/>\n <strong>EGX 30 year-to-date<\/strong>: +8.3%<\/p>\n<p><strong>THE MARKET ON THURSDAY:<\/strong> The EGX30 ended Thursday\u2019s session up 0.3%. CIB, the index heaviest constituent ended almost flat. EGX30\u2019s top performing constituents were: Credit Agricole up 2.8%, Ezz Steel up 2.2%, and Oriental Weavers up 1.9%. Thursday\u2019s worst performing stocks were: Amer Group down 2.9%, Domty down 2.7%, and Juhayna down 1.8%. The market turnover was EGP 975 mn, and foreign investors were the sole net buyers.<\/p>\n<p><strong>Foreigners<\/strong>: Net Long | EGP +132.0 mn<br \/>\n <strong>Regional<\/strong>: Net Short | EGP -84.2 mn<br \/>\n <strong>Domestic<\/strong>: Net Short | EGP -47.8 mn<\/p>\n<p><strong>Retail<\/strong>: 53.4% of total trades | 48.7% of buyers | 58.1% of sellers<br \/>\n <strong>Institutions<\/strong>: 46.6% of total trades | 51.3% of buyers | 41.9% of sellers<\/p>\n<p><strong>Foreign:<\/strong> 21.6% of total | 28.4% of buyers | 14.8% of sellers<br \/>\n <strong>Regional:<\/strong> 22.4% of total | 18.0% of buyers | 26.7% of sellers<br \/>\n <strong>Domestic:<\/strong> 56.0% of total | 53.6% of buyers | 58.5% of sellers<\/p>\n<hr class=\"grey-line\">\n<p><span style=\"color: #299a0b; font-weight: bold;\">***<br \/>\nPHAROS VIEW<\/span><\/p>\n<\/p>\n<p><strong>Another 200 bps Policy Rate Hike - May\u2019s 200 bps Hike was not a Fully Preemptive Move:<\/strong> The CBE\u2019s move to hike interest rates a full 200 bps implies that May\u2019s 200bps was not a fully preemptive move, according to the latest Pharos report. Pharos believes that impact of the policy rate hike on the EGP exchange rate will be limited as the CBE tends to keep the hot inflows outside the system. Pharos believes that annual inflation rate to reach 14.6% in 4Q18, within the CBE\u2019s target range. Pharos also revised its fiscal deficit forecast higher to 10.2% of GDP, while maintaining our primary deficit projection at 0.1% of GDP in FY2017-18. <a href=\"https:\/\/enterprise.press\/wp-content\/uploads\/2017\/07\/Another-200bps-Policy-Rate-Hike.pdf\">You can view the full report here<\/a>.<\/p>\n<p><p><span style=\"color: #299a0b; font-weight: bold;\">***<\/span><\/p>\n<hr class=\"grey-line\">\n<p><strong>WTI:<\/strong> USD 44.23 (-2.83%)<br \/>\n <strong>Brent:<\/strong> USD 46.71 (-2.91%)<\/p>\n<p><strong>Natural Gas<\/strong> (Nymex, futures prices) USD 2.86 MMBtu, (-0.83%, August 2017 contract)<br \/>\n <strong>Gold:<\/strong> USD 1,209.70 \/ troy ounce (-1.11%)<\/p>\n<p><strong>TASI:<\/strong> 7,203.99 (-0.86%) (YTD: -0.09%)<br \/>\n <strong>ADX:<\/strong> 4,396.35 (-0.39%) (YTD: -3.30%)<br \/>\n <strong>DFM:<\/strong> 3,401.15 (-0.47%) (YTD: -3.67%)<br \/>\n <strong>KSE Weighted Index:<\/strong> 397.21 (-0.36%) (YTD: +4.50%)<br \/>\n <strong>QE:<\/strong> 8,922.72 (-0.08%) (YTD: -14.51%)<br \/>\n <strong>MSM:<\/strong> 5,119.52 (+0.12%) (YTD: -11.47%)<br \/>\n <strong>BB: <\/strong>1,310.86 (-0.06%) (YTD: +7.41%)<\/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-markets-yesterday\/\">The markets 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=\"644988\" 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\/2017\/07\/09\/644988\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-644988\" class=\"content-area-description single-story post-644988 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>13-15 July (Thursday-Saturday): <a href=\"http:\/\/www.agrena.net\/\">AGRENA<\/a>\u2019s 19<sup>th<\/sup> Annual Poultry, Livestock, and Fish show, Cairo International Convention Center, Cairo.<\/p>\n<p>15-19 July (Saturday-Wednesday): <a href=\"http:\/\/www.geomeast2017.org\/\">SSIGE\u2019s GeoMEast 2017 International Congress and Exhibition<\/a>, Sharm El Sheikh.<\/p>\n<p>23 July (Sunday): Revolution Day, national holiday.<\/p>\n<p>03-05 August (Thursday-Saturday): <a href=\"http:\/\/www.watrexexpo.com\/site\/\">Watrex Expo<\/a> Middle East, Cairo International Exhibition & Convention Center.<\/p>\n<p>17 August (Thursday): Central Bank of Egypt\u2019s Monetary Policy Committee to review policy rates.<\/p>\n<p>26 August (Saturday): 27th <a href=\"http:\/\/www.moic.gov.eg\/Front\/Media\/NewsDetail.aspx?MedId=8121\">Egyptian-Jordanian Joint Higher Committee<\/a> meeting, Amman Jordan. (TBC).<\/p>\n<p>02-05 September (Saturday-Tuesday): Eid Al-Adha, national holiday (TBC).<\/p>\n<p>13 September (Wednesday): <a href=\"http:\/\/www.eib.org\/infocentre\/events\/all\/med-conference-2017.htm\">EIB MED Conference<\/a>: Boosting investments in the Mediterranean Region, Cairo.<\/p>\n<p>13-16 September (Wednesday-Saturday): <a href=\"http:\/\/cairofashiontex.com\/\">Cairo Fashion & Tex exhibition<\/a>, Cairo International Conference Center<\/p>\n<p>17-19 September (Sunday-Tuesday): Pipeline-Pipe-Sewer-Technology <a href=\"https:\/\/www.pipelinepipesewer.com\/\">Conference & Exhibition<\/a>, Intercontinental Citystars Hotel, Cairo.<\/p>\n<p>18-19 September (Monday-Tuesday): <a href=\"http:\/\/www.euromoneyconferences.com\/egypt.html?PageID=206706&SeriesID=11\">Euromoney Egypt conference<\/a>, venue TBD.<\/p>\n<p>20-23 September (Wednesday-Saturday): 2017 Automech Formula car expo, Cairo International Convention Center, Nasr City, Cairo.<\/p>\n<p>22 September (Friday): Islamic New Year, national holiday (TBC).<\/p>\n<p>25-27 September (Monday-Wednesday): <a href=\"http:\/\/egypt.wraconferences.com\/\">Egypt Downstream Summit and Exhibition<\/a>, Kempinski Royal Maxim Palace, Cairo.<\/p>\n<p>28 September (Thursday): Central Bank of Egypt\u2019s Monetary Policy Committee to review policy rates.<\/p>\n<p>03-05 October (Tuesday-Thursday): J.P. Morgan\u2019s <a href=\"https:\/\/www.jpmorgan.com\/country\/US\/EN\/detail\/1395980361643\">Credit and Equities Emerging Markets Conference<\/a>, London, UK.<\/p>\n<p>18-19 October (Wednesday-Thursday): <a href=\"http:\/\/eventful.com\/cairo\/events\/middle-east-info-security-summit-\/E0-001-084065592-6\">Middle East Info Security Summit<\/a>, Sofitel El Gezirah, Cairo.<\/p>\n<p>06 October (Friday): Armed Forces Day, national holiday.<\/p>\n<p>11-12 October (Wednesday-Thursday): <a href=\"http:\/\/www.megaprojectsconf.com\/en-us\/\">2030 Mega Projects Conference<\/a>, Nefertiti Hall, Cairo International Convention Center, Cairo.<\/p>\n<p>11-13 October (Wednesday-Friday): <a href=\"http:\/\/www.marailshow.com\/en-us\/\">Middle East and Africa Rail Show<\/a>, Cairo International Convention Center, Cairo.<\/p>\n<p>18-20 October (Wednesday-Friday): AfriLabs <a href=\"http:\/\/afrilabs-gathering.com\/about-us-3\/\">annual gathering<\/a> with the theme \u201cSmart Cities,\u201d The French University, Cairo. <a href=\"http:\/\/afrilabs-gathering.com\/registration\/\">Register here<\/a>.<\/p>\n<p>16 November (Thursday): Central Bank of Egypt\u2019s Monetary Policy Committee to review policy rates.<\/p>\n<p>01 December (Friday): Prophet\u2019s Birthday, national holiday.<\/p>\n<p>03-05 December (Sunday-Tuesday): <a href=\"https:\/\/www.solartecegypt.com\/en\/home.html\">Solar-Tec<\/a>, Cairo International Exhibition & Convention Centre.<\/p>\n<p>03-05 December (Sunday-Tuesday): <a href=\"https:\/\/www.electricxegypt.com\/en\/Homepage.html\">Electrix<\/a>, Cairo International Exhibition & Convention Centre.<\/p>\n<p>08-10 December (Friday-Sunday): RiseUp Summit, Downtown Cairo.<\/p>\n<p>28 December (Thursday): Central Bank of Egypt\u2019s Monetary Policy Committee to review policy rates.<\/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":644953,"menu_order":0,"template":"","categories":[],"tags":[],"class_list":["post-644952","issue","type-issue","status-publish","has-post-thumbnail","hentry","wpautop","entry"],"acf":{"mongo_id":"f74d70f8-1bb3-4a8d-acbc-ecaba5937af2","teaser":"","photo_url":"https:\/\/ent.news\/2016\/5\/12.jpg"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - 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