{"id":551670,"date":"2022-07-06T13:54:27","date_gmt":"2022-07-06T13:54:27","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2022\/07\/06\/tonight-pmi-hits-new-low-game-over-for-boris-johnson-el-sisi-inaugurates-projects-new-green-investments-from-the-uae-after-eid\/"},"modified":"2022-07-06T13:54:27","modified_gmt":"2022-07-06T13:54:27","slug":"tonight-pmi-hits-new-low-game-over-for-boris-johnson-el-sisi-inaugurates-projects-new-green-investments-from-the-uae-after-eid","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2022\/07\/06\/tonight-pmi-hits-new-low-game-over-for-boris-johnson-el-sisi-inaugurates-projects-new-green-investments-from-the-uae-after-eid\/","title":{"rendered":"TONIGHT: PMI hits new low + Game over for Boris Johnson? El Sisi inaugurates projects. New green investments from the UAE after Eid."},"content":{"rendered":"

One more working day left until the Eid break,<\/strong> ladies and gentlemen. We can imagine how productivity is going to look like tomorrow.<\/p>\n

Late to the party, but always welcome:<\/strong> The EGX (pdf)<\/a> joined the central bank (pdf)<\/a> and the Manpower Ministry<\/a> in a week-long observance of Eid Al Adha. Private and private sector workers are taking the week off from Sunday 10 July to Thursday 14 July. This follows the cabinet, which said<\/a> on Monday that the public sector will take the full week off.<\/p>\n

The House of Representatives beat all of us to the break,<\/strong> but to their credit, they still held on after schools closed (thank God for small miracles). MPs spent yesterday scrambling to get as many bills approved as possible before heading for their annual two-month break in Sahel. Check out our summary of yesterday's session here<\/a>.<\/p>\n

THE BIG STORY TODAY- <\/strong><\/p>\n

<\/a> Activity in Egypt\u2019s non-oil private sector saw its biggest slump in two years in June<\/strong>, falling further into negative territory as supply-side pressures increased along with rising inflation and the impacts of the devalued EGP, according to the S&P Global purchasing managers\u2019 index (pdf)<\/a>. Business activity contracted at its fastest pace since the first wave of the covid-19 pandemic, with the index falling to 45.2, down from 47.0 in May<\/a>.<\/p>\n

THE BIG STORY ABROAD-<\/strong><\/p>\n

<\/a> Game over for<\/strong> Boris Johnson? Key ministers have resigned from the British government<\/strong>, saying that Prime Minister Boris Johnson is not fit to govern. The move comes amid calls by a growing number of lawmakers calling for him to step down. John Glen, the city minister and economic secretary to the Treasury, was the most recent minister to resign, writing that he can \u201cno longer reconcile my commitment to the role . . . with the complete lack of confidence I have in your continuing leadership of our country.\u201d Glen\u2019s decision is another blow to Johnson after finance minister Rishi Sunak and health minister Sajid Javid sent resignation letters within minutes of each other last night.<\/p>\n

Johnson remains defiant: <\/strong>The PM appears determined to stay in office and immediately appointed education minister Nadhim Zahawi as his new finance minister, and continued to fill in other vacant roles. Foreign minister Liz Truss, who is widely considered a main contender to replace Johnson as the Tory leader, asserted that she was \"100% behind the PM\".<\/p>\n

The story is leading coverage in the international press,<\/strong> including in Reuters<\/a> | Financial<\/a>Times<\/a> | Wall Street Journal<\/a> | France 24<\/a> | DW<\/a> | CNN<\/a><\/p>\n

IN OTHER GLOBAL NEWS- <\/strong>Outgoing OPEC\u2019s Secretary General Mohammad Barkindo passed away at 63, Reuters<\/a>reports.<\/p>\n

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HAPPENING NOW- President Abdel Fattah El Sisi has officially launched the <\/strong>\u201cDigital<\/a><\/strong>Egypt Platform\u201d<\/a><\/strong> during the inauguration of several telecom and digital infrastructure projects, including the submarine cable landing stations along with the Telecom Egypt Regional Data Hub, according to an Ittihadiya statement<\/a>. The platform, which has received EGP 10 bn in investments so far, offers online services like e-payment, car license renewals, and booking appointments for civil services, CIT Minister Amr Talaat said, state news agency MENA<\/a> reported. All you need to register for the platform is your national ID and a cell phone number.<\/p>\n

Happening tomorrow (maybe): The fuel pricing committee could meet today or tomorrow <\/strong>to review fuel prices for the third quarter.<\/p>\n

^^We\u2019ll have more<\/strong> on these stories and others in tomorrow\u2019s EnterpriseAM<\/strong>.<\/p>\n

** CATCH UP QUICK<\/strong> on the top stories from today\u2019s EnterpriseAM<\/strong>:<\/p>\n