{"id":548625,"date":"2022-08-16T04:00:56","date_gmt":"2022-08-16T04:00:56","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2022\/08\/16\/this-morning-cbe-odds-on-to-hike-rates-this-thursday-kenya-has-a-new-president\/"},"modified":"2022-08-16T04:00:56","modified_gmt":"2022-08-16T04:00:56","slug":"this-morning-cbe-odds-on-to-hike-rates-this-thursday-kenya-has-a-new-president","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2022\/08\/16\/this-morning-cbe-odds-on-to-hike-rates-this-thursday-kenya-has-a-new-president\/","title":{"rendered":"THIS MORNING: CBE odds-on to hike rates this Thursday + Kenya has a new president"},"content":{"rendered":"<p><strong>Good morning, friends, and welcome to a big news morning. <\/strong><\/p>\n<p><strong>There\u2019s plenty of good news today<\/strong>, including the first tentative sign of renewed foreign appetite for Egyptian debt and another boost to our regional energy hub ambitions (from The Company Formerly Known As Delek and a compatriot).<\/p>\n<p><strong>Also notable: Six of the nine blue chips reporting 2Q earnings yesterday reported rising net income. <\/strong>It was a hell of an earnings dump, and we have the details for you, below.<\/p>\n<p><strong>WHAT\u2019S HAPPENING TODAY-<\/strong><\/p>\n<p><strong>Consensus in the market is that the Central Bank of Egypt will go for a rate hike on <\/strong><strong>Thursday. <\/strong>We\u2019re updating this morning our <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/5f0f5186-ad0c-49ca-8eb6-bd47cd2f4504\">interest rate poll<\/a> from earlier this week after hearing back from another analyst and their crystal ball. As of this morning, six of eight analysts and economists we surveyed see the CBE going for a rate hike: Four are calling a 100-bps hike, one is forecasting a 200-bps rise and another a more modest 50-bps increase. A <a href=\"https:\/\/www.reuters.com\/markets\/rates-bonds\/egypts-central-bank-seen-hiking-rates-dampen-price-rises-2022-08-15\/\">Reuters poll<\/a> out yesterday is also calling a rate hike, with the wire service saying the sweet spot is 50 bps.<\/p>\n<p><strong>MNHD shareholders will decide today whether to allow SODIC to do due diligence <\/strong>ahead of a potential takeover.<\/p>\n<p><strong>The Madbouly government will hold another two rounds of consultations on its <\/strong><strong>privatizations strategy today and Thursday:<\/strong> Chemical producers are up today while players in the mining sector are in the spotlight on Thursday. Every Sunday, Tuesday, and Thursday see workshops on how privatization plans will affect specific industries. You can find more details on the schedule of the meetings <a href=\"http:\/\/eparticipation.idsc.gov.eg\/?fbclid=IwAR0roLUuQGFnSW2sa39MgFCj0jUqiG6_A-_Kya6SN4IhBJNhIqbHzMv5wdw\">here<\/a>.<\/p>\n<p><strong>THE BIG STORY ABROAD-<\/strong><\/p>\n<p><strong>Kenya elects new president amid vote rigging allegations: <\/strong>Kenya\u2019s deputy president, William Ruto, will become the country\u2019s new president after narrowly defeating his rival, Raila Odinga, in last week\u2019s ballot taking 50.5% of the vote. Odinga\u2019s campaign has accused Ruto of rigging the vote, and four of the seven members of the electoral commission refused to back the \u201copaque\u201d result, raising fears that the contested results could trigger protests and unrest in a country with a long history of post-election violence.<\/p>\n<p><strong>The story was everywhere in the foreign press<\/strong>: <a href=\"https:\/\/www.bbc.com\/news\/world-africa-62554210\">BBC<\/a> | <a href=\"https:\/\/www.theguardian.com\/world\/2022\/aug\/15\/william-ruto-declared-winner-of-kenya-presidential-election-amid-dispute\">The Guardian<\/a> | <a href=\"https:\/\/www.cnn.com\/2022\/08\/15\/africa\/ruto-wins-kenya-presidency-intl\/index.html\">CNN<\/a> | <a href=\"https:\/\/www.nytimes.com\/live\/2022\/08\/15\/world\/kenya-elections\">New York Times<\/a> | <a href=\"https:\/\/www.reuters.com\/world\/africa\/ruto-leads-kenya-vote-media-tally-shows-announcement-seen-imminent-2022-08-15\/\">Reuters<\/a> | <a href=\"https:\/\/www.washingtonpost.com\/world\/2022\/08\/15\/kenya-elections-odinga-ruto\/\">Washington Post<\/a>.<\/p>\n<p><strong>Getting attention in the global business press this morning:<\/strong> Activist investor Dan Loeb\u2019s Third Point hedge fund is pushing for major changes at Disney after acquiring a stake in the entertainment giant. Loeb is calling on the company to refresh its board and consider spinning off ESPN to cut its debt. (<a href=\"https:\/\/www.ft.com\/content\/5bfa9fd6-5df9-41d9-9309-85e50c9ee431\">Financial Times<\/a> | <a href=\"https:\/\/www.cnbc.com\/2022\/08\/15\/loebs-third-point-takes-new-stake-in-disney-boosting-shares.html\">CNBC<\/a> | <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2022-08-15\/activist-loeb-takes-new-stake-in-disney-urges-espn-spinoff\">Bloomberg<\/a> | <a href=\"https:\/\/www.wsj.com\/articles\/dan-loebs-third-point-buys-back-disney-stock-11660576786?mod=hp_lead_pos3\">Wall Street Journal<\/a> | <a href=\"https:\/\/www.reuters.com\/video\/watch\/idOV869015082022RP1\">Reuters<\/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>CLARIFICATION- <\/strong>In our <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/d232c7d3-ca30-46a2-aefc-e4ed17098c74\">Blackboard story<\/a> of yesterday, our summary of tuition fees for Cairo American College (CAC) included the impact of a one-time USD 14,000 registration fee. This registration fee is charged to new students the first time they enroll at CAC regardless of grade level. Returning students do not pay that fee in subsequent years. We\u2019ve updated the story to explain how that fee works and have stripped it out of the grade-level tuition figures we reported. The school remains the most expensive K-12 institution in the country: At the top end of the scale, CAC high school tuition comes in at the equivalent of EGP 548k, while the final two years at the British International School of Cairo come in at EGP 324k per year. CAC quotes tuition fees in USD, while BISC quotes them in EUR.<\/p>\n<p><strong>CIRCLE YOUR CALENDAR-<\/strong><\/p>\n<p><strong>Expect more details on how gov\u2019t plans to cut back on electricity: <\/strong>The Electricity Ministry will hold a press conference in the next few days to announce details of measures to curb electricity use that <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/34592f12-233d-4901-ae0a-b210c9ca855e\">cabinet approved last week<\/a>, Electricity Minister Mohamed Shaker reportedly told <a href=\"https:\/\/tinyurl.com\/e4y7eyb8\">Al Mal<\/a>.<\/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 class='web-image'><img data-recalc-dims=\"1\" src=\"https:\/\/i0.wp.com\/ent.news\/2021\/3\/INFINITY-Top-banner-EN-1600x675-v2-02.png?ssl=1\" alt='enterprise'><\/p>\n<p><strong>*** It\u2019s Going Green day \u2014 your weekly briefing of all things green in Egypt:<\/strong> Enterprise\u2019s green economy vertical focuses each Tuesday on the business of renewable energy and sustainable practices in Egypt, everything from solar and wind energy through to water, waste management, sustainable building practices and how you can make your business greener, whatever the sector.<\/p>\n<p><strong>In today\u2019s issue: <\/strong>How can African nations expand energy access and still meet climate goals? A new report from the International Energy Agency lays out what it will take to get all Africans access to modern energy by 2030, without compromising on climate. We take a look at what the report has to say on how the continent\u2019s energy sector needs to change by the end of the decade \u2014 and what Egypt is already doing to get us there.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Good morning, friends, and welcome to a big news morning. There\u2019s plenty of good news today, including the first tentative sign of renewed foreign appetite for Egyptian debt and another boost to our regional energy hub ambitions (from The Company Formerly Known As Delek and a compatriot). Also notable: Six of the nine blue chips [&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":[271,72,349,1876,7128,353,127,83,74,2256],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-548625","post","type-post","status-publish","format-standard","hentry","category-what-were-tracking-today","tag-central-bank-of-egypt","tag-enterpriseam","tag-interest-rates","tag-kenya","tag-ma-watch","tag-madinet-masr-for-housing-and-development","tag-politics","tag-real-estate","tag-what-were-tracking-today","tag-william-ruto","wpautop","entry"],"acf":{"mongo_id":"4cdaf4c9-9d34-4ee9-9f54-291d7dbd24b6","order":"0","is_powered_by":true,"story_type":"4","photo_url":"","photo_position":"above","related_issue":[548623],"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: CBE odds-on to hike rates this Thursday + Kenya has a new president - 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\/08\/16\/this-morning-cbe-odds-on-to-hike-rates-this-thursday-kenya-has-a-new-president\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"THIS MORNING: CBE odds-on to hike rates this Thursday + Kenya has a new president\" \/>\n<meta property=\"og:description\" content=\"Good morning, friends, and welcome to a big news morning. 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There\u2019s plenty of good news today, including the first tentative sign of renewed foreign appetite for Egyptian debt and another boost to our regional energy hub ambitions (from The Company Formerly Known As Delek and a compatriot). 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Read more in our inaugural poll of economists in this morning\u2019s Speed Round, below. You\u2019re about to pay more taxes, including a new levy on your top\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":624470,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/09\/10\/were-going-to-have-to-keep-interest-rates-high-as-competition-mounts-for-hot-money\/","url_meta":{"origin":548625,"position":1},"title":"We\u2019re going to have to keep interest rates high as competition mounts for hot money","author":"enterpriseam admin","date":"10 September 2018","format":false,"excerpt":"**#3 High interest rates are the price we will have to pay to stay competitive to the carry trade. Emerging markets are in their first \u201csustained\u201d rate-hike cycle since 2011. Rates are rising in EM from Turkey and Argentina to India, Indonesia, the Philippines and the Czech Republic, and the\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\/2018\/9\/2259.png?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":644748,"url":"https:\/\/enterpriseam.com\/egypt\/2017\/07\/03\/what-were-tracking-this-week-148\/","url_meta":{"origin":548625,"position":2},"title":"What we\u2019re tracking this week","author":"enterpriseam admin","date":"3 July 2017","format":false,"excerpt":"The Central Bank of Egypt\u2019s Monetary Policy Committee will meet on Thursday, 6 July to review interest rates. The air is still tense at the prospect of another interest rate hike akin to the 200 bps increase in rates in May. Banking sources tell Al Shorouk that the committee will\u2026","rel":"","context":"In &quot;What We\u2019re Tracking This Week&quot;","block_context":{"text":"What We\u2019re Tracking This Week","link":"https:\/\/enterpriseam.com\/egypt\/category\/what-were-tracking-this-week\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":548701,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/08\/18\/this-morning-what-will-happen-at-todays-monetary-policy-committee-meeting-now-that-amer-has-resigned\/","url_meta":{"origin":548625,"position":3},"title":"THIS MORNING: What will happen at today\u2019s Monetary Policy Committee meeting now that Amer has resigned?","author":"enterpriseam admin","date":"18 August 2022","format":false,"excerpt":"Good morning wonderful people, and welcome to a fantastic Thursday morning dominated by one big story: Who will be the next governor of the Central Bank of Egypt?Whoever it is, the odds are good we\u2019re going to be in safe hands: Egypt has a very deep bench of talented bankers\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":578306,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/12\/22\/this-morning-expect-another-mega-rate-hike-when-the-central-bank-meets-later-today\/","url_meta":{"origin":548625,"position":4},"title":"THIS MORNING: Expect another mega-rate hike when the central bank meets later today","author":"enterpriseam admin","date":"22 December 2022","format":false,"excerpt":"Good morning, dear readers, and congratulations on making it to the end of another week. Like many of you, we're going to be turning on our OoO responders on Sunday and having ourselves an extended weekend for the Christmas break. We'll be back in your inboxes on Monday at the\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\/2022\/12\/479.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":647848,"url":"https:\/\/enterpriseam.com\/egypt\/2017\/05\/22\/what-were-tracking-on-22-may-2017\/","url_meta":{"origin":548625,"position":5},"title":"What we\u2019re tracking on 22 May 2017","author":"enterpriseam admin","date":"22 May 2017","format":false,"excerpt":"Bad news this morning: The Central Bank of Egypt raised interest rates 200 bps overnight. We\u2019re only starting to get our heads around the implications of the rate hike on borrowing costs for the state \u2014 let alone for investment by businesses, who will effectively be borrowing at what were\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\/548625","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=548625"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/548625\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/548623"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=548625"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=548625"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=548625"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=548625"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=548625"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}