{"id":543056,"date":"2022-01-04T13:44:40","date_gmt":"2022-01-04T13:44:40","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/?post_type=afternoon&#038;p=543056"},"modified":"2025-12-15T20:07:37","modified_gmt":"2025-12-15T20:07:37","slug":"business-confidence-is-up-as-our-pmi-inches-closer-to-stabilization","status":"publish","type":"afternoon","link":"https:\/\/enterpriseam.com\/egypt\/afternoon\/business-confidence-is-up-as-our-pmi-inches-closer-to-stabilization\/","title":{"rendered":"Business confidence is up as our PMI inches closer to stabilization"},"content":{"rendered":"<section id=\"543058\" 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=\"543058\">\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\u2019RE TRACKING TONIGHT<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/01\/04\/this-evening-pmi-is-still-in-contraction-egx-says-thursday-is-off-also-house-gives-unified-planning-act-green-light\/\">\r\n                            THIS EVENING: PMI is still in contraction + EGX says Thursday is off. ALSO: House gives Unified Planning Act green light                        <\/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\/2022\/01\/04\/this-evening-pmi-is-still-in-contraction-egx-says-thursday-is-off-also-house-gives-unified-planning-act-green-light\/\" 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\/2022\/01\/04\/this-evening-pmi-is-still-in-contraction-egx-says-thursday-is-off-also-house-gives-unified-planning-act-green-light\/')\">\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\/2022\/01\/04\/this-evening-pmi-is-still-in-contraction-egx-says-thursday-is-off-also-house-gives-unified-planning-act-green-light\/\">\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=THIS EVENING: PMI is still in contraction + EGX says Thursday is off. ALSO: House gives Unified Planning Act green light&url=https:\/\/enterpriseam.com\/egypt\/2022\/01\/04\/this-evening-pmi-is-still-in-contraction-egx-says-thursday-is-off-also-house-gives-unified-planning-act-green-light\/\">\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\/2022\/01\/04\/this-evening-pmi-is-still-in-contraction-egx-says-thursday-is-off-also-house-gives-unified-planning-act-green-light\/&title=THIS EVENING: PMI is still in contraction + EGX says Thursday is off. ALSO: House gives Unified Planning Act green light\">\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=THIS+EVENING%3A+PMI+is+still+in+contraction+%2B+EGX+says+Thursday+is+off.+ALSO%3A+House+gives+Unified+Planning+Act+green+light+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F01%2F04%2Fthis-evening-pmi-is-still-in-contraction-egx-says-thursday-is-off-also-house-gives-unified-planning-act-green-light%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\/2022\/01\/04\/this-evening-pmi-is-still-in-contraction-egx-says-thursday-is-off-also-house-gives-unified-planning-act-green-light\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-543058\" class=\"content-area-description single-story post-543058 post type-post status-publish format-standard hentry category-what-were-tracking-tonight tag-elizabeth-holmes tag-enterprisepm tag-house-of-representatives tag-legislation-watch tag-oil-and-gas tag-opec tag-pmi tag-theranos tag-unified-planning-act tag-what-were-tracking-tonight wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>Happy hump day, ladies and gentlemen.<\/strong> It\u2019s a relatively calm afternoon on the local news front (thank you, shortened workweek), but with the House of Representatives back in session, that might soon change.<\/p>\n<p><strong>Bankers and finance folks are officially off this Thursday<\/strong>, as the <a href=\"https:\/\/ent.news\/2022\/1\/EGX-Thursday-off.jpg\">EGX confirmed<\/a> earlier today the bourse will be closed in observance of Coptic Christmas, which falls on Friday. Cabinet and the Central Bank of Egypt announced earlier that the public sector and banks will also be getting a holiday. All that\u2019s left is the Manpower Ministry to confirm the same goes for the private sector.<\/p>\n<p><strong>THE BIG STORY TODAY<\/strong><\/p>\n<p><a class=\"content-anchor\" id=\"tldr-story-01\"><\/a> <strong>Our PMI is still in contraction \u2014 but there\u2019s hope of better days ahead:<\/strong> Activity in Egypt\u2019s non-oil private sector contracted for a 13th consecutive month in December, albeit at a slower rate, as inflationary pressures eased, export revenues increased, and an uptick in tourism supported new business, according to IHS Markit\u2019s Purchasing Managers\u2019 Index (PMI) <a href=\"https:\/\/www.markiteconomics.com\/Public\/Home\/PressRelease\/df070b8b83f04701a98983180b349def\">survey (pdf)<\/a>. Our PMI reading inched up to 49, from 48.7 in November, remaining below the 50.0 mark that separates expansion from contraction, but rising above its decade average of 48.2 as business activity moved closer to stabilization.<\/p>\n<p><strong>HAPPENING NOW-<\/strong><\/p>\n<p><a class=\"content-anchor\" id=\"tldr-story-02\"><\/a> <strong>The House of Representatives just gave its preliminary approval to the <\/strong><strong>Unified Planning Act<\/strong><strong> in a plenary session<\/strong>, according to <a href=\"https:\/\/gate.ahram.org.eg\/News\/3238374.aspx\">Ahram Gate<\/a>. The legislation would, if passed, dictate how governorate-level economic, social, and urban development plans are implemented.<\/p>\n<p><strong>OPEC+ is currently in a virtual meeting to decide on whether to up oil production<\/strong><strong> next month. <\/strong>Since December, the oil cartel had plans to add another 400k barrels per day to the market in February. However, the spread of the omicron variant and the potential dent in demand have put question markets on whether they\u2019ll move forward with the decision. Nonetheless, sources have signaled that we\u2019ll likely see a ramp up in production despite the variant, with <a href=\"https:\/\/www.cnbc.com\/2022\/01\/04\/opec-meeting-to-decide-on-oil-supply-as-omicron-covid-cases-soar.html\">CNBC<\/a> and the <a href=\"https:\/\/apnews.com\/article\/coronavirus-pandemic-business-health-opec-6b04726186bf9abd0f6e1c488d5bd649\">Associated Press<\/a> echoing Bloomberg\u2019s <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/302c496e-db54-406d-b51f-dff3fee6e499\">predictions yesterday<\/a>.<\/p>\n<p><strong>** CATCH UP QUICK<\/strong> on the top stories from today\u2019s <strong>EnterpriseAM<\/strong>:<\/p>\n<ul>\n<li><strong>Edita isn\u2019t acquiring assets of Ole bakeries manufacturer:<\/strong> Edita Food Industries\u2019 bid to acquire assets belonging to Egyptian Belgian Company <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/1c24329e-129f-4903-9d36-040e2ffded2d\">has fallen through<\/a> after the two companies were unable to agree on a valuation.<\/li>\n<li><strong>Oil Ministry awards eight oil + gas exploration licenses:<\/strong> Seven international companies <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/c5f11f01-49af-4e27-a91e-3410f499133d\">were awarded<\/a> eight of the 24 oil and gas exploration blocks included in the government\u2019s bid round held last year.<\/li>\n<li><strong>Fashion marketplace Gahez <\/strong><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/99481550-e41d-4f4c-99da-b025b97de39a\">has raised<\/a><\/strong><strong> USD 2 mn in a pre-seed funding round<\/strong> led by Disruptech Ventures, with participation from Egypt Ventures, EFG Hermes\u2019 Tanmeyah, LoftyInc Capital\u2019s Afropreneurs fund, and other angel investors.<\/li>\n<\/ul>\n<p><strong>THE BIG STORY ABROAD-<\/strong><\/p>\n<p><strong>The global business press is still leading its front pages this afternoon with Theranos<\/strong><strong> founder Elizabeth Holmes\u2019 conviction<\/strong> on four charges, including defrauding investors. Holmes faced charges related to misleading investors and patients over the accuracy of her firm\u2019s blood-testing technology, which she claimed could perform dozens of tests using exceptionally small quantities of blood. (<a href=\"https:\/\/www.ft.com\/content\/8bde19f6-e8a5-4800-8882-fd799f0caac0\">Financial Times<\/a> | <a href=\"https:\/\/www.wsj.com\/articles\/the-elizabeth-holmes-verdict-theranos-founder-is-guilty-on-four-of-11-charges-in-fraud-trial-11641255705?mod=hp_lead_pos1\">Wall Street Journal<\/a> | <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2022-01-03\/holmes-jurors-say-struggling-to-reach-verdict-on-3-of-11-counts?srnd=premium-middle-east\">Bloomberg<\/a> | <a href=\"https:\/\/www.reuters.com\/world\/us\/us-jury-theranos-trial-cannot-agree-verdicts-all-charges-2022-01-03\/\">Reuters<\/a> | <a href=\"https:\/\/www.washingtonpost.com\/technology\/2022\/01\/03\/elizabeth-holmes-trial-verdict\/\">WaPo<\/a>)<\/p>\n<div class=\"row\">\n<div class=\"col-md-12 subscribe-box-panel\">\n<div class=\"\">\n<div class=\"title\">\n<h4 class=\"fw-lighter mb-10\">\n          Get <b style=\"font-weight: 700\">Enterprise<\/b> daily<br \/>\n        <\/h4>\n<\/p><\/div>\n<p class=\"mb-10\">The roundup of news and trends that move your markets and shape corporate agendas delivered straight to your inbox.<\/p>\n<p>      <a href=\"egypt\/en\/user\/NewsLetters\" type=\"button \" class=\"btn-green px-3 d-flex align-items-center\">Subscribe here<\/a>\n    <\/div>\n<\/p><\/div>\n<\/div>\n<p><strong>? CIRCLE YOUR CALENDAR-<\/strong><\/p>\n<p><strong>Key news triggers to keep your eye on:<\/strong><\/p>\n<ul>\n<li><strong>Foreign reserves:<\/strong> December\u2019s foreign reserves figures will be announced before the week is out.<\/li>\n<li><strong>Interest rates:<\/strong> Further afield, the Central Bank of Egypt (CBE) will hold its first policy meeting of 2022 on Thursday, 3 February.<\/li>\n<\/ul>\n<p><strong>The 2021 Africa Cup of Nations gets underway in Cameroon next Sunday, 9 January.<\/strong> The championship will run until Sunday, 6 February.<\/p>\n<p><strong>The <\/strong><strong><a href=\"https:\/\/wyfegypt.com\/\">World Youth Forum<\/a><\/strong><strong> kicks off in Sharm El Sheikh next Monday, 10 January<\/strong> and runs until Thursday, 13 January.<\/p>\n<p><strong><a href=\"https:\/\/enterprise.press\/am-edition\/#calendar\">Check out our full calendar on the web<\/a><\/strong> for a comprehensive listing of upcoming news events, national holidays and news triggers.<\/p>\n<p>\u2601\ufe0f <strong>TOMORROW\u2019S WEATHER- <\/strong>Expect a daytime high of 19\u00b0C and a nighttime low of 10\u00b0C tomorrow, our favorite weather app forecasts.<\/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\/elizabeth-holmes\/\">Elizabeth Holmes<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/house-of-representatives\/\">House of Representatives<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/legislation-watch\/\">Legislation Watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/oil-and-gas\/\">oil and gas<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/opec\/\">OPEC<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/pmi\/\">PMI<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/theranos\/\">Theranos<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/unified-planning-act\/\">Unified Planning Act<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/what-were-tracking-tonight\/\">WHAT WE\u2019RE TRACKING TONIGHT<\/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=\"543059\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">      \r\n<section id=\"advertiser\" class=\"enterprise-adv issue-section\">\r\n    <div class=\"issue-section__content\" style=\"flex-direction: column;\">\r\n  \r\n                <h4 class=\"wp-block-heading has-text-align-center has-normal-font-size\">\r\n                <span class=\"has-primary-color stk-highlight\">This publication is proudly sponsored by<\/span><\/h4>\r\n                \r\n\r\n                \r\n                <div class=\"wp-block-stackable-carousel alignwide stk-block-carousel stk--is-slide stk--infinite-scroll 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   \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\">FOR YOUR COMMUTE<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/01\/04\/ford-outperformed-tesla-in-2021s-stock-market-will-the-grammys-get-postponed-also-naked-nirvana-babys-lawsuit-dismissed\/\">\r\n                            Ford outperformed Tesla in 2021\u2019s stock market + Will the Grammys get postponed? ALSO: Naked Nirvana baby\u2019s lawsuit dismissed                        <\/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\/2022\/01\/04\/ford-outperformed-tesla-in-2021s-stock-market-will-the-grammys-get-postponed-also-naked-nirvana-babys-lawsuit-dismissed\/\" 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\/2022\/01\/04\/ford-outperformed-tesla-in-2021s-stock-market-will-the-grammys-get-postponed-also-naked-nirvana-babys-lawsuit-dismissed\/')\">\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\/2022\/01\/04\/ford-outperformed-tesla-in-2021s-stock-market-will-the-grammys-get-postponed-also-naked-nirvana-babys-lawsuit-dismissed\/\">\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=Ford outperformed Tesla in 2021\u2019s stock market + Will the Grammys get postponed? ALSO: Naked Nirvana baby\u2019s lawsuit dismissed&url=https:\/\/enterpriseam.com\/egypt\/2022\/01\/04\/ford-outperformed-tesla-in-2021s-stock-market-will-the-grammys-get-postponed-also-naked-nirvana-babys-lawsuit-dismissed\/\">\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\/2022\/01\/04\/ford-outperformed-tesla-in-2021s-stock-market-will-the-grammys-get-postponed-also-naked-nirvana-babys-lawsuit-dismissed\/&title=Ford outperformed Tesla in 2021\u2019s stock market + Will the Grammys get postponed? ALSO: Naked Nirvana baby\u2019s lawsuit dismissed\">\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=Ford+outperformed+Tesla+in+2021%E2%80%99s+stock+market+%2B+Will+the+Grammys+get+postponed%3F+ALSO%3A+Naked+Nirvana+baby%E2%80%99s+lawsuit+dismissed+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F01%2F04%2Fford-outperformed-tesla-in-2021s-stock-market-will-the-grammys-get-postponed-also-naked-nirvana-babys-lawsuit-dismissed%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\/2022\/01\/04\/ford-outperformed-tesla-in-2021s-stock-market-will-the-grammys-get-postponed-also-naked-nirvana-babys-lawsuit-dismissed\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2022\/1\/389.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"543061\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2022\/01\/04\/ford-outperformed-tesla-in-2021s-stock-market-will-the-grammys-get-postponed-also-naked-nirvana-babys-lawsuit-dismissed\/389-jpg-4\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/1\/389.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"389.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/1\/389.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/1\/389.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-543060\" class=\"content-area-description single-story post-543060 post type-post status-publish format-standard has-post-thumbnail hentry category-for-your-commute tag-automotive tag-chip-shortage tag-credit-suisse tag-enterprisepm tag-equities tag-for-your-commute tag-ford tag-semiconductors tag-tesla 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-03\"><\/a> <strong>Ford equities shrugged off the semiconductor shortage in 2021, soaring 140% and<\/strong><strong> outperforming other automakers, including Tesla<\/strong>, reports <a href=\"https:\/\/www.cnbc.com\/2022\/01\/03\/ford-beats-tesla-to-become-auto-industrys-top-growth-stock-in-2021.html\">CNBC<\/a>. The almost-120-year-old automaker hit a market cap of USD 83 bn, making 2021 \u201cthe most important year for the company since the financial crisis\u201d according to a Morgan Stanley analyst. The solid performance and strategic importance comes partially because of the change-up in its leadership that saw auto veteran Jim Farley take over as the company\u2019s CEO 15 months ago. Under Farley\u2019s leadership, the company launched the Ford+ restructuring plan, which shifted resources to developing the company\u2019s EVs. As the <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/b90ef70b-8994-44d7-9515-1ac613a2eef4\">semiconductor chip shortage<\/a> took hold last year and hit the automotive industry hard, Ford <a href=\"https:\/\/media.ford.com\/content\/fordmedia\/fna\/us\/en\/news\/2021\/11\/18\/globalfoundries-ford-auto-chip-supply.html\">signed<\/a> a non-binding agreement in November with the US-based semiconductor maker GlobalFoundries to collaborate on providing chips for the automaker.<\/p>\n<p><strong>Omicron\u2019s potential next victim: The Grammys, which could be postponed as the<\/strong><strong> new strain leads covid cases to spiral in the US<\/strong>, sources told the <a href=\"https:\/\/www.wsj.com\/articles\/grammys-mull-postponement-as-omicron-spread-disrupts-rebound-in-entertainment-11641256253?mod=hp_lista_pos3\">Wall Street Journal<\/a>. No decisions have yet been made, but there is a conversation on how to move forward with the award show, according to the sources. The Grammys are scheduled to take place on 31 January at Crypto.com Arena \u2014 previously known as the Staples Center \u2014 in Los Angeles. This would be the second year the award show was forced to stray away from the norm, last year postponing the event to mid-March and moving it to the Los Angeles Convention Center to allow for more spacing out between guests.<\/p>\n<p><a class=\"content-anchor\" id=\"tldr-story-04\"><\/a> <strong>The private library of late Supreme Court Justice Ruth Bader Ginsburg (RBG) will<\/strong><strong> be on auction this month<\/strong>, with over 1k books up for grabs, according to <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2022-01-04\/ruth-bader-ginsburg-s-private-library-is-coming-to-auction?srnd=premium-middle-east&sref=mmeFTDW1\">Bloomberg<\/a>. The auction will run from 19-27 January at Bonhams and includes books on everything from law and politics to detective novels. The collection also has a number of books signed by the likes of Jane Goodall, Al Gore, and Toni Morrison. The low estimate for the entire sale is USD 60k, but is expected to go for much more as they are currently priced only as books and not as collectibles, said Catherine Williamson, director of fine books and manuscripts at Bonhams. RBG died in September 2020 after a lifetime of pushing landmark work on women\u2019s rights.<\/p>\n<p><strong>Saudi Prince Fahad Bin Sultan is facing a lawsuit from Credit Suisse for allegedly failing<\/strong><strong> to repay some USD 78 mn in interest and loans<\/strong> to refinance his USD 65.5 mn, 82-meter Cayman Islands-registered yacht and a UK mansion property valued at USD 47 mn in 2019, <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2022-01-04\/saudi-superyacht-dispute-pits-credit-suisse-against-gulf-prince?srnd=premium-middle-east&sref=mmeFTDW1\">Bloomberg<\/a>reports. In the London lawsuit filed in November, the Swiss bank said two offshore companies defaulted on a pair of loans \u2014 for which Bin Sultan is the guarantor \u2014 provided for refinancing the purchases. His lawyers are yet to file defense papers, Bloomberg notes.<\/p>\n<p><strong>Never mind that Nevermind lawsuit:<\/strong> The baby in Nirvana\u2019s Nevermind album cover won\u2019t be getting any candy from the band, after a lawsuit over the cover was dismissed by a court in California today, according to <a href=\"https:\/\/www.bbc.com\/news\/entertainment-arts-59867369\">BBC<\/a>. Nirvana\u2019s famous artwork for their album Nevermind featured the now-30-year-old Spencer Elden, who last year filed a lawsuit against the band saying the image constituted child [redacted] abuse. Elden also claimed that the infamous picture caused him \u201cextreme and permanent emotional distress,\u201d as well as loss of wages. The lawsuit is widely seen as Elden\u2019s attempt to extend his 15 minutes of fame, considering he spent his life celebrating his presence on the album cover, often charging to pose for similar pictures and getting a large \u201cNevermind\u201d tattoo on his chest, the BBC writes.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/automotive\/\">automotive<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/chip-shortage\/\">chip shortage<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/credit-suisse\/\">Credit Suisse<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/equities\/\">equities<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/for-your-commute\/\">FOR YOUR COMMUTE<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/ford\/\">Ford<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/semiconductors\/\">semiconductors<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/tesla\/\">Tesla<\/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=\"543062\" 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=\"543062\">\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\">ENTERPRISE RECOMMENDS<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/01\/04\/dont-look-up-is-the-movie-of-the-times-eat-brisket-at-dickeys-arsenal-may-be-saying-bye-bye-to-aubameyang\/\">\r\n                            Don\u2019t Look Up is the movie of the times + Eat brisket at Dickey\u2019s + Arsenal may be saying \u2018bye bye\u2019 to Aubameyang                        <\/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\/2022\/01\/04\/dont-look-up-is-the-movie-of-the-times-eat-brisket-at-dickeys-arsenal-may-be-saying-bye-bye-to-aubameyang\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); 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The pair quickly start at the top and inform the president (played by Meryl Streep) and her chief of staff (hilariously brought to life by Jonah Hill), but the leaders brush them off with politician speak and fail to give the matter any urgency. This is the theme that continues throughout the film as DiCaprio and Lawrence go through increasingly unorthodox channels to get literally anyone to care about the possible end of the world \u2014 even going as far as to appear on a kids\u2019 show. In a clear pointing of fingers at capitalist greed, people only start to give the comet any attention when they judge its potential to be lucrative.<\/p>\n<p><strong>The film acts as a satirical reflection of similar events taking place today<\/strong>, with a majority of the world\u2019s population turning a blind eye when it comes to climate change, writes <a href=\"https:\/\/www.thewrap.com\/dont-look-up-ending-credits-scene-explained\/\">The Wrap<\/a> (warning: spoilers). Don\u2019t Look Up also captures the general sentiment of the pandemic, where people are so exhausted with events out of their control that they opt to focus on trivialities and ignore the consequences of their neglect.<\/p>\n<p>\u26bd <strong>There are no matches to tune into today but there\u2019s potential transfer chatter:<\/strong> Arsenal may be tapping Real Sociedad striker Alexander Isak after reportedly urging European clubs to sign Pierre-Emerick Aubameyang, according to <a href=\"https:\/\/www.eurosport.com\/football\/transfers\/2020-2021\/arsenal-want-alexander-isak-after-urging-clubs-to-make-pierre-emerick-aubameyang-transfer-offer-pape_sto8691751\/story.shtml\">EuroSport<\/a>. Meanwhile, Romelu Lukaku could don Chelsea\u2019s jersey once again after positive talks with head coach Thomas Tuchel and Paul Pogba wants to be on the same team with Karim Benzema, with no definitive plans just yet.<\/p>\n<p><strong>? EAT THIS TONIGHT- <\/strong><\/p>\n<p><a class=\"content-anchor\" id=\"tldr-story-07\"><\/a> <strong>Texas BBQ for days at <\/strong><strong><a href=\"https:\/\/www.instagram.com\/dickeyscairo\/?utm_medium=copy_link\">Dickey\u2019s<\/a><\/strong><strong>:<\/strong> Located inside City Centre Almaza, it\u2019s the perfect place for someone who is a meat (or chicken or sausage) lover. Dickey\u2019s is known for their hickory-smoked brisket, which is featured in a variety of plates, appetizers, and sandwiches. Because we like to try a bit of everything, we had their old school plate with brisket and beef sausage and sides of mac & cheese and sweet corn (their creamy spinach is also great). We were glad to discover that the brisket was well seasoned and tender \u2014 and everything else was just as delicious. We\u2019re also a fan of their sandwiches, especially their Texas hot brisket, their barbeque ranch bird, and their wild westerner. Don\u2019t leave without trying their pecan pie \u2014 we always appreciate the (rather rare) chance to enjoy the pie in Egypt.<\/p>\n<p>? <strong>OUT AND ABOUT-<\/strong><\/p>\n<p>(all times CLT)<\/p>\n<p><strong>Egyptian audiobook startup <\/strong><strong><a href=\"https:\/\/iqraaly.com\/\">Iqraaly<\/a><\/strong><strong> is hosting a <\/strong><strong><a href=\"https:\/\/bit.ly\/3sXgC0u\">book discussion<\/a><\/strong><strong> for Ibrahim<\/strong><strong> Eissa\u2019s new release<\/strong>, <a href=\"https:\/\/www.shoroukbookstores.com\/books\/view.aspx?id=fc47d189-69de-41b2-8bb9-773310255b6d\">Rosasa fel Raas<\/a> (Bullet to the Head). The event will take place today at Downtown coworking space Consoleya at 7pm.<\/p>\n<p><strong>The Darkroom Cairo is organizing a workshop titled \u201c<\/strong><strong><a href=\"https:\/\/www.facebook.com\/events\/s\/experimental-printing-with-old\/688430355897476\/\">Experimental Printing with Old<\/a><\/strong><strong><a href=\"https:\/\/www.facebook.com\/events\/s\/experimental-printing-with-old\/688430355897476\/\">Negatives<\/a><\/strong><strong>\u201d <\/strong>on Saturday at 5pm. The workshop will see students combine archive negatives with photograms or other materials they can bring with them such as flowers or leaves.<\/p>\n<p><strong>? UNDER THE LAMPLIGHT-<\/strong><\/p>\n<p><a class=\"content-anchor\" id=\"tldr-story-08\"><\/a> <strong>AUC Press released an English translation of Ihsan Abdel Quddous\u2019 novel \u201cI Do<\/strong><strong> Not Sleep\u201d: <\/strong>Translated by Jonathan Smolin and published by Hoopoe, the novel was a shock to readers upon its release in the 1950s for portraying strong women characters and going against patriarchal norms, according to a <a href=\"https:\/\/ent.news\/2022\/1\/AUC-Press-Hoopoe-Ihsan-Abdel-Quddos.pdf\">press release (pdf)<\/a>. Abdel Quddous wrote the book in the form of a letter filled with confessions from the main character Nadia who reflects on her actions in the past five years. Raised by her father after her parent\u2019s divorce, Nadia is determined to make sure she is the only woman in her dad\u2019s life. However, when she finds out he remarried without her knowledge, she conspires an elaborate and revengeful plot that will soon cause the family to descend into tragedy and destruction. The novel was adapted into a film <a href=\"https:\/\/en.wikipedia.org\/wiki\/Sleepless_(1957_film)\">by the same name<\/a> in 1957, starring Faten Hamama.<\/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-recommends\/\">Enterprise Recommends<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/literature\/\">literature<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/sports\/\">sports<\/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=\"543064\" 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=\"543064\">\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\">GO WITH THE FLOW<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/01\/04\/meet-our-analyst-of-the-week-misr-capitals-ahmed-abbady\/\">\r\n                            Meet our analyst of the week: Misr Capital\u2019s Ahmed Abbady                        <\/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\/2022\/01\/04\/meet-our-analyst-of-the-week-misr-capitals-ahmed-abbady\/\" 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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I started my career as a sell-side analyst at Jazira Capital, where I covered building materials and consumers for three years, then moved to Misr Capital in 2018. From my experience, working as a buy-side financial analyst is very similar to the sell-side \u2014 they both use the same analytic tools. I love numbers and believe in their honesty in relaying information; this was exemplified for me when I got my CFA.<\/p>\n<p><strong>The best part of working in asset management is the exposure to many sectors. <\/strong>Curiosity is my chronic disease and research and analysis is my recovery [laughs]. Every day, I like to read and learn something new. The job forces you to get to know most industries in depth, and in the end you have the understanding to hold a conversation in investments, stocks, or asset allocation.<\/p>\n<p><strong>I focus on fertilizers, building materials, healthcare, pharma, and real estate. <\/strong>I think healthcare, pharma, and real estate have been oversold in the past period amid the uncertainty of the pandemic and new regulations and they might need more time than 2022 to recover. A lot of people began avoiding hospitals and medical services because they were afraid of getting infected with the virus, and this was a hit to the companies\u2019 volumes, and in turn, their stocks. Meanwhile, fertilizers are booming, but could slow down in the coming period. As for building materials and construction, it all depends on commodity prices and how they move this year.<\/p>\n<p><strong>The worst thing about my job is the stress. <\/strong>You have to be as accurate as possible in the shortest time possible. Time is of the essence in the field and if anything happens locally or globally, you have to interrupt your plans and get the work done.<\/p>\n<p><strong>We\u2019re currently employing a hybrid system at work.<\/strong> We spend two weeks at home and two weeks in the office. I don\u2019t enjoy WFH because I feel that all days start to feel the same \u2014 but it really made me appreciate my wife and all her efforts to take care of me, our home, and our infant son Mazen.<\/p>\n<p><strong>Regarding my job, the uncertainty from the pandemic has made markets more sensitive.<\/strong> Any news related to covid-19 or new variants have a very visible global reaction both here and abroad. However, the vaccination rollouts are progressing well and I hope that we recover from the pandemic very soon.<\/p>\n<p><strong>The secret sauce for investment, in my opinion, is to perfect the methodology of selection and the timing of execution. <\/strong>The methodology of selection involves looking at a stock with a strong growth story, sustainable quality, good governance, and a potential short term catalyst that can unlock the expected upside. As for timing, it\u2019s important to note the average cost of a stock and aim to buy when it\u2019s around that level. Investors should avoid buying a stock when prices are on an upward trend or selling when stock performance is down.<\/p>\n<p><strong>The most important factor I look at before making a recommendation is management. <\/strong>Your forecast and assumptions on a company are based on how credible management was in the past and how much they succeeded in delivering on their guidance. I\u2019ve also learned during my time in asset management that investors focus on stock liquidity when looking at emerging markets, so that\u2019s also something I factor in.<\/p>\n<p><strong>It\u2019s a bit too early to forecast the performance of the EGX in 2022, but the year seems promising.<\/strong> The bourse has been performing well for over 30 weeks now, we saw a recovery in many sectors in 2021, and Egypt\u2019s vaccine drive is moving forward steadily. However, inflation and higher interest rates are the main challenges that could affect us in 2022. All indicators say that local inflation will increase in 1H2022, in line with the global trend.<\/p>\n<p><strong>Being a new father, the day becomes too busy to watch anything without interruption. <\/strong>However, some movies are close to my heart such as <a href=\"https:\/\/www.imdb.com\/title\/tt1187043\/\">3 Idiots<\/a>, <a href=\"https:\/\/www.imdb.com\/title\/tt0120689\/\">The Green Mile<\/a>, and <a href=\"https:\/\/www.imdb.com\/title\/tt1211956\/\">Escape Plan<\/a>. I\u2019m also a huge fan of classical Arabic films. I find them a perfect mix of comedy and romance. A few names off the top of my head are <a href=\"https:\/\/www.imdb.com\/title\/tt0342556\/\">Ibn Hamido<\/a>, <a href=\"https:\/\/www.imdb.com\/title\/tt0370257\/\">A\u2019elit Zizi<\/a>, and <a href=\"https:\/\/www.imdb.com\/title\/tt0366623\/\">Esha3et 7ob<\/a>.<\/p>\n<p><strong>In my downtime, I like to repair my house [laughs].<\/strong> I know it\u2019s a bit weird, but I take fixing any damage as a challenge and YouTube is a great mentor. Sometimes I\u2019m successful at repairing things myself, but a lot of the time, I make the situation much worse [laughs] \u2014 that\u2019s when I finally decide to call a specialist. However, the best time I spend during my day is playing with my son. We love to play hide and seek and he always gets so excited when he finds us. I also enjoy going out with family and friends, especially on the weekends.<\/p>\n<hr class=\"grey-line\">\n<p><strong>MARKET ROUNDUP-<\/strong><\/p>\n<p><strong>The EGX30 rose 0.7% at today\u2019s close<\/strong> on turnover of EGP 1.09 bn (14.7% below the 90-day average). Regional investors were net buyers. The index is up 0.3% YTD.<\/p>\n<p><strong>In the green: <\/strong>Egypt Kuwait Holding (+7.4%), AMOC (+6.4%) and Raya Holding (+5.9%).<\/p>\n<p><strong>In the red: <\/strong>Cleopatra Hospital (-1.4%), Ezz Steel (-1.4%) and Orascom Development Egypt (-0.9%).<\/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\/go-with-the-flow\/\">Go with the Flow<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/misr-capital\/\">Misr Capital<\/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=\"543066\" 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\/2022\/01\/04\/543066\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-543066\" class=\"content-area-description single-story post-543066 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>Early 2022: Results <a href=\"https:\/\/www.elwatannews.com\/news\/details\/5876314\">to be announced<\/a> for the second round of the state\u2019s gold and precious metals auction.<\/p>\n<p>1H2022: Target date for IDH to close its acquisition of 50% of Islamabad Diagnostic Center.<\/p>\n<p>1H2022: The World Economic Forum annual meeting, location TBD.<\/p>\n<p>1H2022: e-Finance\u2019s digital healthcare service platform, eHealth, will launch its services.<\/p>\n<p>1H2022: The government will respond to private companies\u2019 bids to build desalination plants.<\/p>\n<p>1Q2022: <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/9cd1fc44-1593-4317-8658-0aa792215521\">Launch of the Egyptian Commodities Exchange<\/a>.<\/p>\n<p>1Q2022: Swvl acquisition of Viapool expected to close.<\/p>\n<p>1Q2022: Waste collection startup Bekia plans to expand to the UAE and Saudi Arabia.<\/p>\n<p>January: Tenth of Ramadan dry port tender to be launched.<\/p>\n<p>1-15 January (Saturday-Saturday): Qualified Industrial Zones (<a href=\"https:\/\/www.trade.gov\/qualifying-industrial-zones\">QIZ<\/a>) Joint Committee.<\/p>\n<p>4 January (Tuesday): OPEC+ ministerial meeting.<\/p>\n<p>6 January (Thursday): National holiday in observance of Coptic Christmas.<\/p>\n<p>7 January (Friday): Coptic Christmas.<\/p>\n<p>9 January - 6 February (Sunday-Sunday): 2021 Africa Cup of Nations, Cameroon.<\/p>\n<p>10-13 January (Monday-Thursday): <a href=\"https:\/\/wyfegypt.com\/\">World Youth Forum<\/a>, Sharm El Sheikh.<\/p>\n<p>Second half of January: Egypt <a href=\"https:\/\/alborsaanews.com\/2021\/11\/23\/1483989\">will host<\/a> the Egyptian-Bahraini Joint Committee.<\/p>\n<p>Second half of January: <a href=\"https:\/\/alborsaanews.com\/2021\/12\/20\/1492507\">Regulations<\/a> for installing EV charging stations will be published.<\/p>\n<p>16 January (Sunday): SODIC shareholders <a href=\"https:\/\/www.egx.com.eg\/ar\/BulletinNews.aspx?BCODE=272510&All=\">will vote<\/a> on the company\u2019s new board of directors at an extraordinary general meeting.<\/p>\n<p>17-19 January (Monday-Wednesday): <a href=\"https:\/\/www.worldfutureenergysummit.com\/en-gb.html\">World Future Energy Summit<\/a>, Abu Dhabi.<\/p>\n<p>20 January (Thursday): Kadmar Shipping\u2019s <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/01ff5c98-c2b7-42a3-9c0f-7e33f4c9e638\">new line<\/a> transporting agricultural crops between Alexandria and Russia begins its operations.<\/p>\n<p>23 January (Sunday): Deadline for Macro Pharma to IPO on the EGX.<\/p>\n<p>25 January (Tuesday): 25 January revolution anniversary \/ Police Day.<\/p>\n<p>27 January (Thursday): National holiday in observance of 25 January revolution anniversary \/ Police Day.<\/p>\n<p>End of January: The Egyptian-Romanian business forum will take place with the aim of strengthening joint investment relations.<\/p>\n<p>January-February 2022: Construction work on the Abu Qir metro upgrade <a href=\"https:\/\/www.youtube.com\/watch?v=vXBilirlgw0\">will begin<\/a>.<\/p>\n<p>February: Hassan Allam Construction\u2019s <a href=\"https:\/\/alborsaanews.com\/2021\/12\/07\/1488592\">new construction firm<\/a> established with Russia\u2019s Titan-2 to handle construction work on the Dabaa nuclear power plant begins its operations.<\/p>\n<p>February: Ghazl El Mahalla shares will begin trading on the EGX this month.<\/p>\n<p>Mid-February: End of grace period to comply with new minimum wage for firms who sent in exemption requests.<\/p>\n<p>3 February (Thursday): Central Bank of Egypt\u2019s Monetary Policy Committee meeting.<\/p>\n<p>4-20 February (Friday-Sunday): 2022 Winter Olympics, Beijing.<\/p>\n<p>11 February (Friday): <a href=\"https:\/\/finance.yahoo.com\/news\/vistas-media-acquisition-company-inc-203000610.html\">Deadline for Anghami SPAC merger<\/a>.<\/p>\n<p>11-13 February (Friday-Sunday) FIBA Intercontinental Cup, Cairo.<\/p>\n<p>14-16 February (Monday-Wednesday): Egypt Petroleum Show, Egypt International Exhibition Center, New Cairo, Egypt.<\/p>\n<p>15 February (Tuesday): The Industrial Development Authority\u2019s deadline for <a href=\"https:\/\/alborsaanews.com\/2021\/11\/21\/1483299\">receiving offers<\/a> from companies for licenses to manufacture steel products.<\/p>\n<p>19 February (Saturday): Public universities begin the second term of the 2021-2022 academic year.<\/p>\n<p>End of February: Lebanon to receive gas from Egypt via a pipeline crossing Jordan and Syria.<\/p>\n<p>March: <a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/304519788385115\">Rollout<\/a> of the government financial management information system (GFMIS), a suite of electronic tools to automate the government\u2019s financial management processes (<a href=\"https:\/\/ent.news\/2021\/7\/tnm1007.pdf\">pdf<\/a>) that will replace the existing \u201cclosed\u201d financial management system.<\/p>\n<p>March: 4Q2021 earnings season.<\/p>\n<p>March: Deadline for the World Health Organization\u2019s <a href=\"https:\/\/www.who.int\/news\/item\/01-12-2021-world-health-assembly-agrees-to-launch-process-to-develop-historic-global-accord-on-pandemic-prevention-preparedness-and-response\">intergovernmental negotiating body<\/a> to meet to discuss binding treaty on future pandemic cooperation.<\/p>\n<p>March: World Cup playoffs.<\/p>\n<p>March: Target date for Saudi tech firm Brmaja to IPO on the EGX.<\/p>\n<p>9-18 March (Wednesday-Friday): The 55th edition of the <a href=\"https:\/\/www.facebook.com\/mift.media\/posts\/291436426360972\">Cairo International Fair<\/a>.<\/p>\n<p>24 March (Thursday): Central Bank of Egypt\u2019s Monetary Policy Committee meeting.<\/p>\n<p>31 March (Thursday): Deadline for submitting tax returns for individual taxpayers.<\/p>\n<p>31 March (Thursday): Supply Ministry expected to take final decision on bread subsidies by this date.<\/p>\n<p>2 April (Saturday): First day of Ramadan (TBC).<\/p>\n<p>3 April (Sunday): Bidding begins on the Industrial Development Authority\u2019s license to manufacture tobacco products.<\/p>\n<p>4 April (Monday): CDC Group will formally change its name to British International Investment.<\/p>\n<p>22-24 April (Friday-Sunday): <a href=\"http:\/\/sdg.iisd.org\/events\/2022-spring-meetings-of-the-world-bank-group-and-the-international-monetary-fund\/\">World Bank-IMF spring meeting<\/a>, Washington D.C.<\/p>\n<p>24 April (Sunday): Coptic Easter Sunday (holiday for Coptic Christians).<\/p>\n<p>25 April (Monday): Sham El Nessim.<\/p>\n<p>25 April (Monday): Sinai Liberation Day.<\/p>\n<p>28 April (Thursday): National Holiday in observance of Sham El Nessim.<\/p>\n<p>30 April (Saturday): Deadline for submitting corporate tax returns for companies whose financial year ends 31 December.<\/p>\n<p>Late April - 15 May: 1Q2022 earnings season<\/p>\n<p>May: Investment in Logistics Conference, Cairo, Egypt.<\/p>\n<p>1 May (Sunday): Labor Day.<\/p>\n<p>5 May (Thursday): National Holiday in observance of Labor Day.<\/p>\n<p>2 May (Monday): Eid El Fitr (TBC).<\/p>\n<p>19 May (Thursday): Central Bank of Egypt\u2019s Monetary Policy Committee meeting.<\/p>\n<p>15-18 June: <a href=\"https:\/\/forumspb.com\/en\/\">St. Petersburg International Economic Forum<\/a> (SPIEF), St. Petersburg.<\/p>\n<p>16 June (Thursday): End of 2021-2022 academic year for public schools.<\/p>\n<p>23 June (Thursday): Central Bank of Egypt\u2019s Monetary Policy Committee meeting.<\/p>\n<p>27 June-3 July (Monday-Sunday): World University Squash Championships, New Giza.<\/p>\n<p>30 June (Thursday): June 30 Revolution Day, national holiday.<\/p>\n<p>End of 2Q2022: The Financial Regulatory Authority\u2019s new Ins. Act should be approved.<\/p>\n<p>End of 1H2022: Emirati industrial company M Glory Holding and the Military Production Ministry will begin the mass production of dual fuel pickup trucks that can run on natural gas.<\/p>\n<p>2H2022: <a href=\"https:\/\/www.ief.org\/news\/egypt-to-host-8th-ief-igu-ministerial-gas-forum-in-2022\">IEF-IGU Ministerial Gas Forum<\/a>, Egypt. Date + location TBA.<\/p>\n<p>July: A law governing ins. for seasonal contractors will come into effect.<\/p>\n<p>8 July (Friday): Arafat Day.<\/p>\n<p>9-13 July (Saturday-Wednesday): Eid Al Adha, national holiday.<\/p>\n<p>30 July (Saturday): Islamic New Year.<\/p>\n<p>Late July - 14 August: 2Q2022 earnings season.<\/p>\n<p>18 August (Thursday): Central Bank of Egypt\u2019s Monetary Policy Committee meeting.<\/p>\n<p>September: Egypt will display its first naval exhibition with the title <a href=\"https:\/\/bit.ly\/3lshDZX\">Naval Power<\/a>.<\/p>\n<p>22 September (Thursday): Central Bank of Egypt\u2019s Monetary Policy Committee meeting.<\/p>\n<p>6 October (Thursday): Armed Forces Day, national holiday.<\/p>\n<p>8 October (Saturday): Prophet Muhammad\u2019s birthday, national holiday.<\/p>\n<p>18-20 October(Tuesday-Thursday): Mediterranean Offshore Conference, Alexandria, Egypt.<\/p>\n<p>Late October - 14 November: 3Q2022 earnings season.<\/p>\n<p>3 November (Thursday): Central Bank of Egypt\u2019s Monetary Policy Committee meeting.<\/p>\n<p>22 December (Thursday): Central Bank of Egypt\u2019s Monetary Policy Committee meeting.<\/p>\n<p>End of 2022: e-Aswaaq\u2019s tourism platform will complete the roll out of its ticketing and online booking portal across Egypt.<\/p>\n<p><strong>**Note to readers:<\/strong> Some national holidays may appear twice above. Since 2020, Egypt has observed most mid-week holidays on Thursdays regardless of the day on which they fall and may also move those days to Sundays. We distinguish above between the actual holiday and its observance.<\/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":543057,"template":"","categories":[],"tags":[],"class_list":["post-543056","afternoon","type-afternoon","status-publish","has-post-thumbnail","hentry","wpautop","entry"],"acf":{"mongo_id":"1f5c71ca-4855-4d04-ba00-3410433fe065","teaser":"","photo_url":"https:\/\/ent.news\/2022\/1\/388.jpg"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Business confidence is up as our PMI inches closer to stabilization - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/afternoon\/business-confidence-is-up-as-our-pmi-inches-closer-to-stabilization\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Business confidence is up as our PMI inches closer to stabilization\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/afternoon\/business-confidence-is-up-as-our-pmi-inches-closer-to-stabilization\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:modified_time\" content=\"2025-12-15T20:07:37+00:00\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:image\" content=\"https:\/\/i0.wp.com\/ent.news\/2022\/1\/388.jpg?fit=%2C&ssl=1\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/afternoon\/business-confidence-is-up-as-our-pmi-inches-closer-to-stabilization\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/afternoon\/business-confidence-is-up-as-our-pmi-inches-closer-to-stabilization\/\",\"name\":\"Business confidence is up as our PMI inches closer to stabilization - 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