{"id":556217,"date":"2021-10-17T03:58:17","date_gmt":"2021-10-17T03:58:17","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2021\/10\/17\/this-morning-cbe-confirms-its-a-four-day-workweek-egyptair-makes-vaccination-mandatory-for-all-staff\/"},"modified":"2021-10-17T03:58:17","modified_gmt":"2021-10-17T03:58:17","slug":"this-morning-cbe-confirms-its-a-four-day-workweek-egyptair-makes-vaccination-mandatory-for-all-staff","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2021\/10\/17\/this-morning-cbe-confirms-its-a-four-day-workweek-egyptair-makes-vaccination-mandatory-for-all-staff\/","title":{"rendered":"THIS MORNING: CBE confirms it\u2019s a four-day workweek + EgyptAir makes vaccination mandatory for all staff"},"content":{"rendered":"<p><strong>Good morning, friends, and welcome to another workweek<\/strong> as we start the 75-day countdown until the end of the year. It\u2019s another very busy news day, but before we jump right in, let us take a moment to be thankful:<\/p>\n<p><strong>Bankers, finance folks and the business community can rejoice \u2014 you\u2019re officially <\/strong><strong>getting a three-day weekend. <\/strong>The nation\u2019s banks will be off next Thursday in observance of Prophet Muhammad\u2019s Birthday, the central bank announced Friday said in a statement to reporters. With banks closed, the EGX will also be off \u2014 look for an announcement from the bourse any moment now.<\/p>\n<p><strong>SMART POLICY- EgyptAir has made vaccinations mandatory for all of its employees<\/strong>. Unjabbed staff at the flag carrier and its subsidiaries will not be allowed to go to their workplaces starting 25 November, <a href=\"https:\/\/alborsaanews.com\/2021\/10\/16\/1472098\">the company said<\/a>.<\/p>\n<p><strong>** CATCH UP QUICK<\/strong> with the top stories from Thursday\u2019s edition of <strong>EnterprisePM<\/strong>:<\/p>\n<ul>\n<li><strong>Egypt\u2019s inclusion in JPMorgan\u2019s EM government bond index could drive inflows worth USD 1 bn<\/strong> to Egypt\u2019s local currency bond markets, Finance Minister Mohamed Maait <a href=\"https:\/\/bit.ly\/3mLENu8\">said<\/a>.<\/li>\n<li><strong>Korea <\/strong><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/b4f1e9aa-9b95-4de4-953c-52a0427895ad\">is lining up<\/a><\/strong><strong> what seems to be a multi-bn USD infrastructure and defense sale to <\/strong><strong>Egypt<\/strong>, including a shipyard construction contract in the Suez Canal area for Samsung Heavy Industries and unspecified technical support for the Dabaa nuclear power plant.<\/li>\n<li><strong>The robots are coming, Part XVII:<\/strong> Automated freight trains <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/02d30490-6472-49f4-a445-da66ee4be342\">could be<\/a> a long-term answer to global shipping woes. <\/li>\n<\/ul>\n<p><strong>WHAT\u2019S HAPPENING TODAY-<\/strong><\/p>\n<p><strong>It\u2019s the last day for retail investors to get their orders in for shares of e-Finance.<\/strong> Trading of shares in the state-owned fintech platform and payments infrastructure provider is expected to begin this week.<\/p>\n<p><strong>The IMF \/ World Bank Fall Meetings enter their final day later this afternoon in<\/strong><strong> Washington, DC.<\/strong> The weeklong gathering was marked by a slew of reports and economic forecasts, including the IMF\u2019s <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/0995771d-0f22-47c8-bfac-8ff7985fa0b0\">World Economic Outlook<\/a> and <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/6d3111e0-dff7-43d3-abb3-fd6acee36cdc\">Fiscal Monitor Report<\/a>, as well as the <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/b25eb2d0-26aa-4dd6-b989-296d562aea36\">World Bank\u2019s MENA economic update<\/a>.<\/p>\n<p><strong>THE BIG STORY ABROAD- <\/strong><\/p>\n<p><strong>There\u2019s no single story dominating the imagination of the global business press this morning. <\/strong>The <a href=\"https:\/\/www.ft.com\/content\/ba0a3cde-719b-4040-93cb-a486e1f843fb\">Financial Times<\/a> is leading news that <strong>China tested in August a new hypersonic missile<\/strong> \u201cdemonstrating an advanced space capability that caught US intelligence by surprise.\u201d <strong>Your favourite TV show won\u2019t be going on strike<\/strong> after Hollywood workers reached an agreement with studios, the <a href=\"https:\/\/www.wsj.com\/articles\/hollywood-workers-reach-agreement-with-studios-averting-strike-11634434300\">Wall Street Journal<\/a> notes. And <a href=\"https:\/\/www.reuters.com\/business\/energy\/exclusive-china-looks-lock-us-lng-energy-crunch-raises-concerns-sources-2021-10-15\/\">Reuters<\/a> has an exclusive that suggests <strong>China is looking to lock in US supplies of natural gas<\/strong> for the long term as the energy crisis bites in the world\u2019s most populous country.<\/p>\n<p><strong>MEANWHILE- You no longer have to wear a mask in public places in Saudi Arabia<\/strong> as the kingdom starts easing today a number of covid restrictions, the <a href=\"https:\/\/www.spa.gov.sa\/viewstory.php?lang=ar&newsid=2295648\">Saudi Press Agency<\/a> announced. The decision included a lifting of restrictions on the visitor capacity for holy sites in Mecca and Medina. The state will also allow restaurants, public transport, and cinemas to operate at full capacity across the country. Caps on attendance at weddings and other events have also been removed. The easing of restrictions apply only to individuals who have been double vaccinated.<\/p>\n<p><strong>The US is finally opening up for vaccinated travellers: <\/strong>Starting November 8, fully vaccinated international travelers will be able to visit the US, White House Spokesperson Kevin Munoz <a href=\"https:\/\/twitter.com\/KMunoz46\/status\/1448994395957641241?s=20\">confirmed<\/a> on Friday following a Reuters <a href=\"https:\/\/www.reuters.com\/world\/us\/exclusive-us-partly-lift-international-travel-curbs-nov-8-official-2021-10-15\/\">report<\/a>. Fully-vaccinated travelers will be allowed to visit the US from 26 Schengen countries as well as Britain, Ireland, China, India, South Africa, Iran and Brazil. The White House had announced <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/914a40cb-ac49-43f8-9b46-cb90bdcfca6f\">in September<\/a> that the US would lift its travel ban on visitors from 33 countries, without specifying when. <strong>Egypt did not make the list. <\/strong><\/p>\n<p><strong>British MP killed in terror attack: <\/strong>Conservative MP David Amess <a href=\"https:\/\/www.nytimes.com\/2021\/10\/15\/world\/europe\/conservative-mp-david-amess-stabbing.html\">was stabbed to death<\/a> in a church on Friday, where he was meeting with constituents. Police suspect the 25-year-old alleged assailant was motivated by Islamist extremism. The attack marks the second murder of a British MP in five years, after Labour lawmaker Jo Cox was <a href=\"https:\/\/www.theguardian.com\/uk-news\/2021\/oct\/15\/other-politicians-who-have-been-killed-in-service\">killed<\/a> by a pro-Brexit extremist on the eve of the Brexit vote in 2016.<\/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>MARKET WATCH-<\/strong><\/p>\n<p><strong>Out of gas, buyers turn to oil: <\/strong>Brent crude prices hit a three-year high to settle at USD 85.10 on Friday, as companies rushed to secure alternative fuel sources amid the global gas supply crisis, Bloomberg <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2021-10-15\/oil-s-leap-through-85-shows-spillover-effect-from-energy-crisis?sref=mmeFTDW1\">reports<\/a>. With a post-pandemic pickup in road, freight and aviation activity, oil demand looks set to outpace supply by up to 1 mn barrels per day in the fourth quarter, despite monthly supply increases OPEC+ producers. Half of the extra demand will come from firms looking to fill gaps in their gas supply, the International Energy Agency (IEA) <a href=\"https:\/\/www.iea.org\/reports\/oil-market-report-october-2021\">said<\/a> on Thursday.<\/p>\n<p><strong>But the gas squeeze has its downside risks:<\/strong> If output cutbacks in China and Europe translate into a prolonged manufacturing slowdown, crude\u2019s recent gains could be in danger, the IEA\u2019s oil markets head told Bloomberg. Other market watchers point to different factors. \u201c<strong>It will take a trifecta of events to derail this oil price rally<\/strong>: OPEC+ unexpectedly boosts output, warm weather hits the Northern Hemisphere, and if the Biden administration taps the strategic petroleum reserves,\u201d one senior market analyst told <a href=\"https:\/\/www.reuters.com\/business\/energy\/oil-prices-rise-tight-supply-set-weekly-gain-more-than-2-2021-10-15\/\">Reuters<\/a>.<\/p>\n<p><strong>Russia says it stands at the read: <\/strong>Despite seeing local demand soar to \u201ca record high\u201d in recent weeks, Moscow is ready to boost gas supplies to Europe should demand warrant it, Russian Deputy Prime Minister Alexander Novak said yesterday, according to <a href=\"https:\/\/www.reuters.com\/business\/energy\/russia-seeing-record-gas-demand-still-ready-boost-eu-supplies-novak-says-2021-10-16\/\">Reuters<\/a>.<\/p>\n<p><strong>MEANWHILE- From the Dept. of Cloak and Dagger: Iran and Venezuela are said to be trading oil despite US sanctions. <\/strong><a href=\"https:\/\/www.reuters.com\/business\/energy\/iranian-supertanker-departing-venezuela-transport-heavy-oil-2021-10-16\/\">Reuters<\/a> dives deep for you hydrocarbon (and diplomacy) types.<\/p>\n<p><strong>CIRCLE YOUR CALENDAR-<\/strong><\/p>\n<p><strong>i-Sheep, stay tuned: Apple <\/strong><strong><a href=\"https:\/\/www.cnbc.com\/2021\/10\/16\/apple-event-preview-macbook-pro-expected-to-get-apple-chip.html\">will unveil<\/a><\/strong><strong> a new lineup of products tomorrow. <\/strong>Macs are the most likely to get a revamp, with larger sizes of the MacBook Pro set to be on the agenda. Apple is also widely expected to announce new, redesigned AirPods. Also keep an eye out for the official release date for macOS Monterey, the latest software for Mac laptops and desktops, which will likely be announced at the launch event. The event kicks off tomorrow at 10 am PDT. <strong>That\u2019s 7 pm CLT for the folks tuning in from home<\/strong>. You can catch a <a href=\"https:\/\/www.youtube.com\/watch?v=exM1uajp--A\">livestream here<\/a>.<\/p>\n<p><strong>Google<\/strong> will hold an event on Tuesday to talk about its <strong>Pixel 6<\/strong> and <strong>Pixel Pro<\/strong> phones (<a href=\"https:\/\/pixelevent.withgoogle.com\/\">stream it here<\/a> at 7pm).<\/p>\n<p><strong>Fall conference season is still going strong.<\/strong> Among the exhibitions and business events here and throughout the region:<\/p>\n<ul>\n<li><strong>The <\/strong><strong><a href=\"https:\/\/gitex.com\/\">GITEX Global<\/a><\/strong><strong> at the Dubai World Trade Center kicks off today and runs through this Thursday. <\/strong>The event brings together players in Big Tech to discuss what\u2019s next in areas such as AI, cloud, 5G, cybersecurity, blockchain, and more.<\/li>\n<li><strong>Further down the road: <\/strong>The Middle East Angel Investment Network is hosting its <a href=\"http:\/\/mainmena.com\/conference\/4\">Angel Oasis<\/a> in El Gouna on 27-29 October, with separate pricing for in-person and virtual attendance.<\/li>\n<\/ul>\n<p><strong>Calling all entrepreneurs in Egypt: You have one month to apply for the <\/strong><strong>acceleration<\/strong><strong> exchange program Meet Silicon Valley<\/strong>, which will take a group of entrepreneurs to California for a 10-day program to meet with tech executives and investors. The program is being implemented by Injaz Egypt and TechWadi with the support of the US Embassy in Egypt. Startup founders must be between the ages of 23 and 35 to be eligible for the program. The deadline for applications is 15 November, and you can check out the full criteria and program details <a href=\"https:\/\/msv.untapcompete.com\/?fbclid=IwAR13R-rnoig33BYTI_ncO_haWFxQ45-xba8lgRLofAtwcAlT_E9FQ0jTVZA\">here<\/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","protected":false},"excerpt":{"rendered":"<p>Good morning, friends, and welcome to another workweek as we start the 75-day countdown until the end of the year. It\u2019s another very busy news day, but before we jump right in, let us take a moment to be thankful: Bankers, finance folks and the business community can rejoice \u2014 you\u2019re officially getting a three-day [&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":[107,880,72,131,91,219,113,74],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-556217","post","type-post","status-publish","format-standard","hentry","category-what-were-tracking-today","tag-covid-19","tag-egyptair","tag-enterpriseam","tag-manufacturing","tag-oil-and-gas","tag-saudi-arabia","tag-vaccines","tag-what-were-tracking-today","wpautop","entry"],"acf":{"mongo_id":"f08f0ded-b3b3-4f39-a3aa-598fb53603e6","order":"0","is_powered_by":true,"story_type":"4","photo_url":"","photo_position":"above","related_issue":[556215],"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 confirms it\u2019s a four-day workweek + EgyptAir makes vaccination mandatory for all staff - 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\/2021\/10\/17\/this-morning-cbe-confirms-its-a-four-day-workweek-egyptair-makes-vaccination-mandatory-for-all-staff\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"THIS MORNING: CBE confirms it\u2019s a four-day workweek + EgyptAir makes vaccination mandatory for all staff\" \/>\n<meta property=\"og:description\" content=\"Good morning, friends, and welcome to another workweek as we start the 75-day countdown until the end of the year. 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How is it already the fifth of the month? We\u2019ve always loved the back-to-school, plan-for-the-new-year vibe of the ninth month of the year \u2014 and we love it doubly because we\u2019re going back to the office three\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":559194,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/01\/13\/what-were-tracking-on-13-january-2021\/","url_meta":{"origin":556217,"position":1},"title":"What we\u2019re tracking on 13 January 2021","author":"enterpriseam admin","date":"13 January 2021","format":false,"excerpt":"We have plenty of news for you on this fine Wednesday morning, starting with a surprise announcement from the Central Bank of Egypt that the nation\u2019s banks cannot distribute cash dividends for fiscal year 2020, though they may issue dividends in the form of stock. The decision is meant to\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":556510,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/10\/28\/this-morning-threat-to-egyptair-flight-deemed-a-hoax-health-minister-out-of-hospital-after-reported-heart-attack\/","url_meta":{"origin":556217,"position":2},"title":"THIS MORNING: Threat to EgyptAir flight deemed a hoax, health minister out of hospital after reported heart attack","author":"enterpriseam admin","date":"28 October 2021","format":false,"excerpt":"Good morning, friends, and welcome to the final workday of the week. We have a packed issue for you this morning, so let\u2019s jump right in: DRIVING THE STORY in Cairo: Its interest rate day. The Central Bank of Egypt will likely leave interest rates on hold when it meets\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":634942,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/01\/29\/egyptair-in-talks-with-international-banks-for-usd-800-mn-loan\/","url_meta":{"origin":556217,"position":3},"title":"EgyptAir in talks with international banks for USD 800 mn loan","author":"enterpriseam admin","date":"29 January 2018","format":false,"excerpt":"EgyptAir is in talks with international banks to borrow USD 800 mn for the purchase of new aircrafts to upgrade their fleet, banking sources told Al Shorouk. The sources disclosed that amongst the institutions involved in the conversation are Citigroup and JP Morgan. EgyptAir is planning on spending a total\u2026","rel":"","context":"In &quot;Banking + Finance&quot;","block_context":{"text":"Banking + Finance","link":"https:\/\/enterpriseam.com\/egypt\/category\/banking-finance\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":556587,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/10\/03\/tonight-auto-sales-up-in-august-egyptair-completes-maiden-flight-to-israel-georgieva-in-trouble-opec-could-increase-production-global-economy-faces-headwinds\/","url_meta":{"origin":556217,"position":4},"title":"TONIGHT: Auto sales up in August; EgyptAir completes maiden flight to Israel; Georgieva in trouble; OPEC+ could increase production; Global economy faces headwinds.","author":"enterpriseam admin","date":"3 October 2021","format":false,"excerpt":"We\u2019re kicking off a shortened workweek today, with the nation getting Thursday 7 October off in observance of Armed Forces Day. We can also expect to have a Thursday off later in the month thanks to the Prophet Muhammad\u2019s Birthday, which is formally observed on Monday, 18 October.THE BIG STORY\u2026","rel":"","context":"In &quot;WHAT WE\u2019RE TRACKING TONIGHT&quot;","block_context":{"text":"WHAT WE\u2019RE TRACKING TONIGHT","link":"https:\/\/enterpriseam.com\/egypt\/category\/what-were-tracking-tonight\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":637020,"url":"https:\/\/enterpriseam.com\/egypt\/2017\/11\/06\/banks-want-guaranteed-to-grant-egyptair-usd-870-mn-loan\/","url_meta":{"origin":556217,"position":5},"title":"Banks want guaranteed to grant EgyptAir USD 870 mn loan","author":"enterpriseam admin","date":"6 November 2017","format":false,"excerpt":"Banks in talks with EgyptAir over a USD 870 mn loan to revamp its fleet are stipulating that the facility be guaranteed by the Finance Ministry,banking sources told Al Shorouk. 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