{"id":547653,"date":"2022-07-03T04:23:00","date_gmt":"2022-07-03T04:23:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2022\/07\/03\/this-morning-light-rail-opens-today-mps-could-break-for-recess-this-week\/"},"modified":"2022-07-03T04:23:00","modified_gmt":"2022-07-03T04:23:00","slug":"this-morning-light-rail-opens-today-mps-could-break-for-recess-this-week","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2022\/07\/03\/this-morning-light-rail-opens-today-mps-could-break-for-recess-this-week\/","title":{"rendered":"THIS MORNING: Light rail opens today + MPs could break for recess this week"},"content":{"rendered":"<p><strong>Welcome to FY2022-2023, <\/strong>ladies and gentlemen. And while a bunch of you are on summer break (judging by the volume of OOO replies in our inboxes), there\u2019s no rest for the weary on the policy and investment front.<\/p>\n<p><strong>THE BIG STORIES TODAY are too numerous to summarize up top:<\/strong> We\u2019ve just sealed one of our biggest wheat buys in years, there\u2019s more news on the GCC investment front, and a landmark real estate court ruling that may help that trend continue.<\/p>\n<p><strong>ALSO MAKING HEADLINES- <\/strong>British American Tobacco is exiting Egypt among a bunch of other countries, and the subscription deadline for the retail portion of Ghazl El Mahala\u2019s IPO could be pushed back. We explore those in detail in the news well below.<\/p>\n<p><strong>WHAT\u2019S HAPPENING TODAY-<\/strong><\/p>\n<p><a id=\"tldr-story-06\" class=\"content-anchor\"><\/a> <strong>The long-awaited light rail opens today: <\/strong>The first phases of the light rail transit system (LRT) connecting Cair, the new administrative capital and Tenth of Ramadan will start operating today. Eight stations connecting new cities such as Al Shorouk, Badr and Al Mostakbal with Adly Mansour and Knowledge City in the new capital will go live today, according to <a href=\"https:\/\/www.almasryalyoum.com\/news\/details\/2634997\">Al Masry Al Youm<\/a>. The line will be expanded deeper into the new capital and to Tenth of Ramadan in later phases.<\/p>\n<p><strong>Tickets are going to be pricier than the metro<\/strong>, costing between EGP 15-35 depending on how far you\u2019re going.<\/p>\n<p><strong>Want to know more about the LRT line?<\/strong> We\u2019ve got you covered with our <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/89cb9259-bf42-42bc-acdb-354768318727\">in-depth project profile<\/a>.<\/p>\n<p><strong>The Austrian FM is in town:<\/strong> Foreign Minister Sameh Shoukry will <a href=\"https:\/\/www.shorouknews.com\/news\/view.aspx?cdate=02072022&id=29b3e480-fb50-4996-9aa8-fb56eb44e918\">hold talks<\/a> with his Austrian counterpart Alexander Schallenberg in Cairo today. The two will discuss relations between the two countries as well as current regional and international issues.<\/p>\n<p><strong>The <\/strong><strong><a href=\"https:\/\/www.facebook.com\/egyindustriesexpo\">Egypt Industries Expo<\/a><\/strong><strong> starts today<\/strong> at the Egypt International Exhibition Center. The three-day event brings together leading industry players in various sectors to promote their products.<\/p>\n<p><strong>THIS WEEK-<\/strong><\/p>\n<p><strong>MPs could begin their summer recess this week: <\/strong>The House will reconvene this week, holding plenary sessions today, tomorrow and Tuesday as the current legislative cycle draws to a close. <a href=\"https:\/\/www.shorouknews.com\/news\/view.aspx?cdate=29062022&id=2779eef8-e8a6-4f97-8021-7a73a5b95945\">Speculation<\/a> is growing among MPs that recess could begin later this week though there\u2019s still a chance that our elected representatives will have to postpone their annual Sahel getaways until after Eid.<\/p>\n<p><strong>On the legislative agenda this week:<\/strong><\/p>\n<ul>\n<li><strong>Saudi investment:<\/strong> MPs will today discuss the <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/ce28f2c9-69b3-4c78-b2ab-1eb5d194e101\">agreement<\/a> signed with Saudi Arabia\u2019s Public Investment Fund (PIF) at the end of March which could see USD 10 bn of fresh Saudi investment in the economy. The PIF and the Sovereign Fund of Egypt (SFE) <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/7cd9a361-7664-491a-8579-5bd3b45d50ed\">have already identified<\/a> the companies \u2014 both private and state-owned \u2014 that the Saudi wealth fund will invest in.<\/li>\n<li><strong>Consumer finance:<\/strong> Government-drafted amendments to the Consumer Finance Act will be debated tomorrow. Three articles could be added to the act to provide greater fraud protections to consumers, according to a note seen by Enterprise.<\/li>\n<li><strong>Tax disputes: <\/strong>The House will also discuss government-drafted amendments to tax dispute settlements tomorrow, part of efforts to improve the investor climate and boost tax revenues.<\/li>\n<\/ul>\n<p><strong>Will the reforms to competition rules make it to the House before the recess?<\/strong> We\u2019re hearing that discussions have reached a deadlock and there\u2019s a chance that we won\u2019t see any movement on this until the next legislative session starts in October. We have more in this morning\u2019s news well, below.<\/p>\n<p><strong>EIB pledges support for water and sustainable transport during upcoming VP <\/strong><strong>visit:<\/strong> European Investment Bank Vice President Gelsomina Vigliotti will be in town for a four-day visit this week, marking her first high-level visit to the country since the covid pandemic began in 2020, according to a <a href=\"https:\/\/ent.news\/2022\/7\/EIB-Vice-President-to-visit-Egypt-press-release-v3-002.pdf\">statement (pdf)<\/a>. The visit will see Vigliotti discuss the bank\u2019s support for Egypt\u2019s energy and food security, as well as green projects ahead of the COP27 summit in November.<\/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>There\u2019s no single story dominating the international headlines as we wake up this <\/strong><strong>morning:<\/strong> There\u2019s <a href=\"https:\/\/www.ft.com\/content\/8e4538cc-e8c5-4cc2-9448-053074f72f67\">more bad news<\/a> for crypto bros, <a href=\"https:\/\/www.reuters.com\/world\/europe\/zelenskiy-adviser-concedes-key-bastion-could-fall-eastern-ukraine-2022-07-03\/\">ominous news<\/a> for Ukrainian forces in the Donbas, and <a href=\"https:\/\/www.wsj.com\/articles\/airline-delays-and-cancellations-hobble-july-fourth-weekend-travel-11656792216?mod=hp_lead_pos7\">inconvenient news<\/a> for US travelers ahead of July Fourth celebrations.<\/p>\n<p><strong>WATCH THIS SPACE- Diplomats are working hard on a Tiran and Sanafir transfer <\/strong><strong>agreement: <\/strong>Lawyers and diplomats from Egypt, Israel, the US and Saudi Arabia are working on a \u201ccomplex\u201d series of agreements to pave the way for the transfer of the Tiran and Sanafir islands from Egypt and Saudi Arabia ahead of US President Joe Biden\u2019s visit to the region later this month, <a href=\"https:\/\/www.axios.com\/2022\/06\/29\/israel-saudi-arabia-egypt-red-sea-deal-normalization\">Axios<\/a> reports, citing three Israeli officials. The plan, which could open the door to Israel and Saudi Arabia normalizing ties, has reportedly <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/9d0c041d-49cd-423c-ae4e-b7300912fd79\">received the green light in Israel<\/a>, potentially putting Biden in reach of his first major foreign policy breakthrough.<\/p>\n<p><strong>The costs of climate inaction are the biggest threat to economic growth<\/strong>, Mahmoud Mohieldin, the special envoy of the UN Secretary General, executive director at the IMF, and the UN Climate Change High-Level Champion for Egypt, said during a speech at the Climate Innovation Forum in London on Tuesday. As one of the leading figures building support for COP27\u2019s agenda, Mohieldin has put sustainable finance and climate adaptation strategies \u2014 especially in aid of Africa \u2014at the heart of his pitch to global leaders ahead of the global summit in Sharm El Sheikh in November.<\/p>\n<p><strong>CIRCLE YOUR CALENDAR-<\/strong><\/p>\n<p><strong>It\u2019s the start of a brand new month \u2014 and you know what that means\u2026<\/strong><\/p>\n<ul>\n<li><strong>PMI:<\/strong> Data measuring activity in Egypt\u2019s non-oil private sector will drop on Wednesday, 6 July.<\/li>\n<li><strong>Foreign reserves:<\/strong> Foreign reserves figures will be out sometime this week.<\/li>\n<li><strong>Inflation:<\/strong> Inflation data for June will land on Sunday, 10 July.<\/li>\n<\/ul>\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 class=\"web-image\"><a href=\"https:\/\/whatsnext.enterprise.press\/\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2021\/11\/Whats-Next-Vertical-Banner-En-1600-1.jpg?ssl=1\" alt=\"enterprise\" \/><\/a><\/p>\n<p><strong>*** It\u2019s What\u2019s Next day:<\/strong> We have our weekly deep-dive into what makes and shapes pre-listed companies and startups in Egypt, the UAE and KSA, touching on investment trends, future sector insights and growth journeys.<\/p>\n<p><strong>In today\u2019s issue:<\/strong> Today, we explore what\u2019s next for healthtech in Egypt. We go beyond the startups to look at the healthtech that is moving the industry and what trends industry insiders expect, from both the startups and traditional healthcare providers.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Welcome to FY2022-2023, ladies and gentlemen. And while a bunch of you are on summer break (judging by the volume of OOO replies in our inboxes), there\u2019s no rest for the weary on the policy and investment front. THE BIG STORIES TODAY are too numerous to summarize up top: We\u2019ve just sealed one of our [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[7204],"tags":[7286,228,72,760,274,180,105,127,207,74],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-547653","post","type-post","status-publish","format-standard","hentry","category-what-were-tracking-today","tag-climate","tag-cop27","tag-enterpriseam","tag-european-investment-bank","tag-house-of-representatives","tag-legislation","tag-mahmoud-mohieldin","tag-politics","tag-transport","tag-what-were-tracking-today","wpautop","entry"],"acf":{"mongo_id":"a172c4ea-57e4-46b6-9501-24512039d446","order":"0","is_powered_by":true,"story_type":"4","photo_url":"","photo_position":"above","related_issue":[547651],"teaser":"","voice_url":""},"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>THIS MORNING: Light rail opens today + MPs could break for recess this week - 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\/2022\/07\/03\/this-morning-light-rail-opens-today-mps-could-break-for-recess-this-week\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"THIS MORNING: Light rail opens today + MPs could break for recess this week\" \/>\n<meta property=\"og:description\" content=\"Welcome to FY2022-2023, ladies and gentlemen. 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Mondays are typically the slowest news days of the week, but not so today \u2014 we have plenty going on.IT\u2019S A BIG DAY FOR: Our covid-19 vaccine rollout. Yesterday, we reported that it seems unlikely we\u2019re going to be getting anytime soon the 5 mn of\u2026","rel":"","context":"In &quot;What We're Tracking Today&quot;","block_context":{"text":"What We're Tracking Today","link":"https:\/\/enterpriseam.com\/egypt\/category\/what-were-tracking-today\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":593609,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/10\/03\/what-were-tracking-on-3-october-2019\/","url_meta":{"origin":547653,"position":1},"title":"What we\u2019re tracking on 3 October 2019","author":"enterpriseam admin","date":"3 October 2019","format":false,"excerpt":"It\u2019s a very meaty issue for you today as we head into a nice long weekend ahead of us: Prime Ministry Moustafa Madbouly confirmed yesterday that Sunday is off in observance of Armed Forces Day. The stock exchange will be closed, and the Manpower Ministry declared it will be a\u2026","rel":"","context":"In &quot;What We're Tracking Today&quot;","block_context":{"text":"What We're Tracking Today","link":"https:\/\/enterpriseam.com\/egypt\/category\/what-were-tracking-today\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":594263,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/10\/24\/what-were-tracking-on-24-october-2019\/","url_meta":{"origin":547653,"position":2},"title":"What we\u2019re tracking on 24 October 2019","author":"enterpriseam admin","date":"24 October 2019","format":false,"excerpt":"The first Russia-Africa summit wraps up in Sochi today. The opening day saw lots of talk but little in the way of action. Discussions were had on trade and investment, the Russian Industrial Zone and the resumption of Russian flights to Sharm (no breakthrough there \u2014 we have more on\u2026","rel":"","context":"In &quot;What We're Tracking Today&quot;","block_context":{"text":"What We're Tracking Today","link":"https:\/\/enterpriseam.com\/egypt\/category\/what-were-tracking-today\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":559796,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/02\/04\/what-were-tracking-on-3-february-2021-2\/","url_meta":{"origin":547653,"position":3},"title":"What we\u2019re tracking on 3 February 2021","author":"enterpriseam admin","date":"4 February 2021","format":false,"excerpt":"Good morning, everyone \u2014 we made it through another week together, and our just reward is \u2026 rainapocalypse?Today would be a great day to WFH: Expect rain with intermittent thunder and lightning in Cairo and Alexandria, the national weather service says. Rain is also forecast to sweep the Delta, there\u2019s\u2026","rel":"","context":"In &quot;What We're Tracking Today&quot;","block_context":{"text":"What We're Tracking Today","link":"https:\/\/enterpriseam.com\/egypt\/category\/what-were-tracking-today\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":624469,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/09\/10\/what-were-tracking-on-10-september-2018\/","url_meta":{"origin":547653,"position":4},"title":"What we\u2019re tracking on 10 September 2018","author":"enterpriseam admin","date":"10 September 2018","format":false,"excerpt":"Enjoy your mid-week break. Tomorrow is officially off: The stock exchange and the central bank have announced they will close tomorrow in observance of Islamic new year after a Labor Ministry statement noting it would be a national holiday. Happy first day of 1440, y\u2019all, and see you back here\u2026","rel":"","context":"In &quot;What We're Tracking Today&quot;","block_context":{"text":"What We're Tracking Today","link":"https:\/\/enterpriseam.com\/egypt\/category\/what-were-tracking-today\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":568366,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/12\/28\/what-were-tracking-on-28-december-2020\/","url_meta":{"origin":547653,"position":5},"title":"What we\u2019re tracking on 28 December 2020","author":"enterpriseam admin","date":"28 December 2020","format":false,"excerpt":"It\u2019s t-minus four days until 2021 and New Year-itis is in full effect if the unprecedented volume of out-of-office replies we\u2019re receiving after we dispatch each morning\u2019s edition is anything to go by.The big news at home this morning: The merger of two of the nation\u2019s largest healthcare players \u2014\u2026","rel":"","context":"In &quot;What We're Tracking Today&quot;","block_context":{"text":"What We're Tracking Today","link":"https:\/\/enterpriseam.com\/egypt\/category\/what-were-tracking-today\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/547653","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/comments?post=547653"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/547653\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/547651"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=547653"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=547653"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=547653"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=547653"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=547653"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}