{"id":558826,"date":"2021-08-29T04:01:39","date_gmt":"2021-08-29T04:01:39","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2021\/08\/29\/this-morning-fed-to-dial-back-stimulus-by-years-end-opec-is-expected-to-open-the-pumps-when-it-meets-on-wednesday\/"},"modified":"2021-08-29T04:01:39","modified_gmt":"2021-08-29T04:01:39","slug":"this-morning-fed-to-dial-back-stimulus-by-years-end-opec-is-expected-to-open-the-pumps-when-it-meets-on-wednesday","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2021\/08\/29\/this-morning-fed-to-dial-back-stimulus-by-years-end-opec-is-expected-to-open-the-pumps-when-it-meets-on-wednesday\/","title":{"rendered":"THIS MORNING: Fed to dial back stimulus by year\u2019s end + OPEC+ is expected to open the pumps when it meets on Wednesday"},"content":{"rendered":"<p><strong>Good morning, wonderful people, and welcome to the final days of August. <\/strong>We have a busy news morning for you, so let\u2019s jump right in.<\/p>\n<p><strong>THE BIG STORY here at home has to be our potential membership in the African Finance <\/strong><strong>Corporation<\/strong>, which cabinet gave the green light on Thursday, potentially unlocking bns in fresh investment. A close second: The Tax Authority is putting a shot over the bow of e-commerce players who aren\u2019t playing ball. It\u2019s the latest in a series of moves the taxman has made to capture what it sees as its fair share of business done online. We have chapter and verse on both stories in this morning\u2019s news well, below.<\/p>\n<p>(<strong>And before you complain:<\/strong> We don\u2019t like tax grabs any more than you do, but Egypt isn\u2019t alone in this. Countries around the world are doing their damndest to (a) make certain local online players are fully registered with the tax system and (b) to claim a chunk of revenues generated in-country by multinational players including the FAANG gang.)<\/p>\n<p><strong>THE BIG STORY ABROAD? There are three of them<\/strong> for you on this fine morning. <strong>Joe Biden <\/strong><strong>has warned that a second attack on Kabul airport is likely in the coming 24-36 hours. <\/strong>The news comes after a suicide bombing <a href=\"https:\/\/apnews.com\/article\/europe-france-evacuations-kabul-9e457201e5bbe75a4eb1901fedeee7a1\">on Thursday<\/a> by Islamic State offshoot ISIS-K left at least 60 Afghans and 13 US military personnel dead. The US has begun withdrawing its troops from the airport as the 31 August deadline for its evacuation from the country looms. Evacuations are <a href=\"https:\/\/apnews.com\/article\/europe-business-afghanistan-united-nations-957bdc5ded58a337572313d27be13e73\">winding down<\/a> and the UK <a href=\"https:\/\/www.reuters.com\/world\/asia-pacific\/britain-end-evacuation-afghanistan-saturday-2021-08-28\/\">said<\/a> Saturday that its last evacuation flight had left the country. The story is everywhere from <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2021-08-28\/biden-warns-another-kabul-airport-attack-likely-in-24-36-hours?srnd=premium-middle-east&sref=mmeFTDW1\">Bloomberg<\/a> and the <a href=\"https:\/\/www.ft.com\/content\/efc7732d-7dc2-4e72-8788-a716617dd96e\">Financial Times<\/a> to <a href=\"https:\/\/www.reuters.com\/world\/asia-pacific\/us-launches-drone-strike-islamic-state-after-afghan-airport-blast-2021-08-28\/\">Reuters<\/a>.<\/p>\n<p><strong>Also vying for your attention this morning: Fed boss Jay Powell <\/strong><strong><a href=\"https:\/\/fortune.com\/2021\/08\/27\/stocks-rise-as-powell-says-fed-will-begin-dialing-back-stimulus-later-this-year\/\">says<\/a><\/strong><strong> the US central bank <\/strong><strong>will start dialing back bond purchases <\/strong>by the end of the year (we have more on that story below), and a <strong><a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2021-08-28\/iraq-eyes-new-regional-role-and-looks-for-help-to-rebuild?sref=mmeFTDW1\">regional summit in Baghdad<\/a><\/strong><strong> saw early signs of rapprochement between onetime rivals<\/strong> including Egypt and Qatar \u2014 and Saudi and Iran. We have more on the latter in this morning\u2019s Speed Round and Last Night\u2019s Talk Shows, below.<\/p>\n<p><strong>** CATCH UP QUICK<\/strong> with the top stories from Thursday\u2019s edition of EnterprisePM:<\/p>\n<ul>\n<li><strong>Aman completes issuance of securitized bonds<\/strong>: Raya\u2019s subsidiary Aman <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/a3fd792a-1ec8-4398-86fd-ef99cdd2e303\">issued EGP 585 mn in securitized bonds<\/a>, with a little help from CIB and the National Bank of Egypt.<\/li>\n<li><strong>Speed Medical won\u2019t acquire Prime Speed Medical: <\/strong>Speed Medical announced it <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/dd42a6b4-c0fc-4b31-b54a-d58ce34e90ac\">will no longer acquire a 70% stake in its sister company Prime Speed<\/a> in an unusually frank disclosure to the EGX.<\/li>\n<li><strong>GM could invest more in Egypt<\/strong>: That\u2019s the key (albeit vague) takeaway from the Trade Minister Nevine Gamea\u2019s <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/e559ec44-1e09-432a-9abe-5e72d489b72e\">meeting with officials from the US auto giant<\/a> during which they discussed its expansion plans in Egypt. <\/li>\n<\/ul>\n<p><strong>WHAT\u2019S HAPPENING TODAY-<\/strong><\/p>\n<p><strong>SMART POLICY- The social solidarity ministry will launch <\/strong><strong>a sign language version <\/strong><strong>of its relationship and marriage education platform <\/strong><strong><a href=\"https:\/\/www.mawadda-eg.com\/\">Mawadda<\/a><\/strong><strong>, <\/strong>giving persons with hearing disabilities access to the platform\u2019s video content, Amwal Al Ghad report.<\/p>\n<p><strong>The Health Ministry <\/strong><strong><a href=\"https:\/\/www.facebook.com\/egypt.mohp\/posts\/148135437497679\">reported<\/a><\/strong><strong> 251 new covid-19 infections yesterday<\/strong>, up from 234 the day before and 203 cases on Thursday. Egypt has now disclosed a total of 287,644 confirmed cases of covid-19. The ministry also reported 8 new deaths, bringing the country\u2019s total death toll to 16,714.<\/p>\n<p><strong>CIRCLE YOUR CALENDAR-<\/strong><\/p>\n<p><strong>OPEC+ countries are widely expected to proceed with plans to undo oil production cuts <\/strong><strong>when they meet on Wednesday<\/strong> as oil prices recover, according to <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2021-08-27\/opec-seen-sticking-to-planned-output-hike-as-oil-prices-rebound?srnd=premium-middle-east&sref=mmeFTDW1\">a Bloomberg survey<\/a>. The majority of traders and analysts surveyed agree that the 23-nation alliance \u2014 led by Saudi Arabia and Russia \u2014 will move ahead with the planned output hike in their meeting this week as the \u201cuncertainties over the world economy and the growth recovery in China have largely peeled away,\u201d one analyst said, noting that OPEC+ will likely stick to the plan if the recovery continues. OPEC+ had reached <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/5c82df82-84e1-4f60-ab06-e6104209ddea\">an agreement late last month<\/a> to gradually increase production till the end of 2022, extending the supply cuts to December 2022 instead of April.<\/p>\n<p><strong>Egypt hosts <\/strong><strong><a href=\"https:\/\/digisignafrica.com\/\">Digi Sign Africa<\/a><\/strong><strong> this week:<\/strong> The three-day advertising and digital printing exhibition gets underway at the Cairo International Convention Centre on Wednesday, 1 September.<\/p>\n<p><strong>Cypriot prez in town this week:<\/strong> President Nicos Anastasiades arrives in Cairo on Saturday, 4 September for <a href=\"https:\/\/cyprus-mail.com\/2021\/08\/26\/first-cyprus-egypt-intergovernmental-summit-on-september-4\/\">a joint Egypt-Cyprus summit<\/a>.<\/p>\n<p><strong>** Check out our full calendar on the web<\/strong> for a comprehensive listing of upcoming news events, national holidays and news triggers.<\/p>\n<p><strong>MARKET WATCH-<\/strong><\/p>\n<p><a class=\"content-anchor\" id=\"tldr-story-07\"><\/a> <strong>Powell drops strong hints of an end to stimulus measures this year: <\/strong>The Federal Reserve could start tapering its USD 120 bn per month bond-buying programme as early as this year, Fed head Jerome Powell <a href=\"https:\/\/www.ft.com\/content\/f1b08dc7-c4dd-405e-af3f-1045ecf77d40\">signaled<\/a> in his hotly anticipated keynote speech at the annual Jackson Hole symposium on Friday. Stopping short of giving a clear timetable for when the bank could begin to wind down the purchases, Powell said that the US economy has achieved \u201csubstantial further progress\u201d toward average inflation of 2%, one of two goals it has said it needs to meet before it begins winding down the stimulus, and has made \u201cclear progress\u201d on its second target of maximum employment. A majority of Fed officials have been <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/80439a51-0542-4cdf-b097-45a59741c004\">lobbying<\/a> for an end to the bond-buying program by mid-2022, to give more flexibility to tackle increasingly aggressive inflation, even as unemployment remains high and the delta variant threatens to halt the recovery.<\/p>\n<p><strong>The <\/strong><strong>markets<\/strong><strong> were soothed by Powell\u2019s dovish tone<\/strong> as he called for a cautious approach to tightening policy, stressing that inflationary pressures were likely temporary. Any potential rate hike would be subject to a \u201cdifferent and substantially more stringent test\u201d than that set out for ending the stimulus, Powell added.<\/p>\n<p><strong>The S&P 500 hit a <\/strong><strong>record high<\/strong><strong> on the back of the speech<\/strong>, gaining 0.9%, as did the Nasdaq Composite, which rose 1.2%. The Dow Jones was also up 0.7%, leaving all three benchmarks up for the week. Yields on US ten-year treasury notes dropped only marginally after the speech, falling from 1.34% to 1.31%. The greenback fell, while gold rose. \u201cInvestors are breathing a sigh of relief as Powell suggests a kinder, gentler Fed tightening,\u201d one analyst told <a href=\"https:\/\/finance.yahoo.com\/news\/asia-set-cautious-start-amid-220310931.html?guccounter=1&guce_referrer=aHR0cHM6Ly93d3cuZ29vZ2xlLmNvbS8&guce_referrer_sig=AQAAAKkvsVKe18ot3grin9rwgJjo2gm2KJ3hHxZmbf1FZcNjWBadfJrgraqumAnsOODvpdbMnAa77A1rRB2Od_QfOB3qMx3s6ADNW003_gEfckv8zTNZIrpiuaEtuaq_XtfrtaeJBI4URMk1baEMlpNJfn27OtdUw0cCyxIwnpoIGy6n\">Bloomberg<\/a>.<\/p>\n<p><strong>SIGNS OF THE TIMES- <\/strong><\/p>\n<p><strong>#1- You can pay for your stay at Samih Sawiris\u2019 luxury Swiss hotel using crypto.<\/strong> Chedi Andermatt <a href=\"https:\/\/www.facebook.com\/TheChediAndermatt\/photos\/a.1600703423387159\/2984249201699234\/?type=3&theater\">announced<\/a> that it will start accepting BTC and ETH and will consider accepting other cryptocurrencies in the future, the hotel said in a statement picked up by <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2021-08-27\/billionaire-s-swiss-luxury-hotel-to-accept-crypto-payments?sref=mmeFTDW1\">Bloomberg<\/a>. Sawiris opened the Chedi in 2013 as part of his redevelopment of the alpine town of Andermatt. <strong>Switzerland has become one of the biggest proponents of cryptocurrencies in Europe:<\/strong> Last year the Swiss town of Zug <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2020-09-03\/swiss-canton-takes-taxes-in-bitcoin-as-crypto-goes-mainstream?sref=mmeFTDW1\">announced<\/a>that it will start allowing citizens to pay their taxes in cryptocurrencies, while ski resort Zermatt accepts it as payment for some services.<\/p>\n<p><strong>#2- <\/strong><strong>Solar panels produced a record-breaking 10% of the EU\u2019s electricity during June <\/strong><strong>and July this year,<\/strong> an increase from just over 6% three years ago, according to data from energy think-tank Ember picked up by the <a href=\"https:\/\/www.ft.com\/content\/628c5bff-108b-4e1c-ac5b-2b487cd93ab9?shareType=nongift\">Financial Times<\/a>. But solar panels still generated less energy than the EU\u2019s coal plants, which were responsible for 14% of EU electricity this summer.<\/p>\n<p><strong>#3- The super-rich got 62% super-richer during the pandemic: <\/strong><a href=\"https:\/\/ips-dc.org\/u-s-billionaires-62-percent-richer-during-pandemic\/\">New figures<\/a> from progressive US think-tank the Institute for Policy Studies show that 708 US bn\u2019aires have added USD 1.8 tn to their combined wealth in the 17 months since the start of the pandemic, all while over 86 mn Americans lost their jobs. The pandemic\u2019s biggest <s>profiteer<\/s> beneficiary by a long shot was Elon Musk, whose net worth skyrocketed by more than 600% from under USD 25 bn to over USD 175 bn.<\/p>\n<p><strong>TOKYO 2020 PARALYMPICS- <\/strong><\/p>\n<p><a class=\"content-anchor\" id=\"tldr-story-08\"><\/a> <strong>Egypt\u2019s powerlifters grabbed six medals at the Tokyo 2020 Paralympics over the <\/strong><strong>weekend. <\/strong>Fatma Omar claimed silver in the <a href=\"https:\/\/www.paralympic.org\/tokyo-2020\/results?disciplineId=beabd1e3-09c5-3256-acb6-8fd5a7276b38&eventId=18e1321e-cdda-3fc4-a208-7fbb4ece3121\">women\u2019s 67kg<\/a>, lifting 120kg, while Rehab Radwan came second in the <a href=\"https:\/\/www.paralympic.org\/tokyo-2020\/results?disciplineId=beabd1e3-09c5-3256-acb6-8fd5a7276b38&eventId=18e1321e-cdda-3fc4-a208-7fbb4ece3121\">women\u2019s 50kg<\/a> with a 120kg lift. In the men\u2019s events, Mahmoud Attia lifted 191kg in <a href=\"https:\/\/www.paralympic.org\/tokyo-2020\/results?disciplineId=beabd1e3-09c5-3256-acb6-8fd5a7276b38&eventId=18e1321e-cdda-3fc4-a208-7fbb4ece3121\">the 72kg competition<\/a> to come second and Sherif Osman narrowly missed out on a gold medal with a 187kg lift in <a href=\"https:\/\/www.paralympic.org\/tokyo-2020\/results?disciplineId=beabd1e3-09c5-3256-acb6-8fd5a7276b38&eventId=18e1321e-cdda-3fc4-a208-7fbb4ece3121\">the 59kg final<\/a>, while Mohamed Sohbi clinched a bronze medal in <a href=\"https:\/\/www.paralympic.org\/tokyo-2020\/results?disciplineId=beabd1e3-09c5-3256-acb6-8fd5a7276b38&eventId=18e1321e-cdda-3fc4-a208-7fbb4ece3121\">the 80kg competition<\/a> after lifting 212kg, and Hany Abdelhady also earned a bronze medal in <a href=\"https:\/\/olympics.com\/tokyo-2020\/paralympic-games\/en\/results\/powerlifting\/results-men-s-88-kg-fnl-000100-.htm\">the 88kg competition<\/a> after lifting 214kg<\/p>\n<p><strong>An honourable mention: <\/strong>Despite losing his opening match 0-3 against South Korea, Egyptian table tennis player Ibrahim Hamadtou won plaudits in the global media over the weekend for his performance playing only with his mouth. Read more <a href=\"https:\/\/bit.ly\/2WpTlGh\">here<\/a>, <a href=\"https:\/\/abcnews.go.com\/Sports\/egyptian-table-tennis-athlete-amputee-captures-hearts-tokyo\/story?id=79681997\">here<\/a>, and <a href=\"https:\/\/www.news18.com\/news\/sports\/paralympics-egypts-ibrahim-hamadtou-shines-with-his-unique-table-tennis-skills-4128785.html\">here<\/a> or catch some video here (<a href=\"https:\/\/twitter.com\/ziohausam\/status\/1431337195701424138?s=20\">watch, runtime: 0:33<\/a>).<\/p>\n<p><strong>AS IT STANDS-<\/strong><\/p>\n<table class=\"markets-table\">\n<tbody>\n<tr class=\"gray-table\">\n<td> <\/td>\n<td>\n<p><strong>Country<\/strong><\/p>\n<\/td>\n<td>\n<p>?<\/p>\n<\/td>\n<td>\n<p>?<\/p>\n<\/td>\n<td>\n<p>?<\/p>\n<\/td>\n<td>\n<p><strong>Total<\/strong><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td>\n<p>1<\/p>\n<\/td>\n<td>\n<p>China<\/p>\n<\/td>\n<td>\n<p><strong>34<\/strong><\/p>\n<\/td>\n<td>\n<p>24<\/p>\n<\/td>\n<td>\n<p>27<\/p>\n<\/td>\n<td>\n<p>85<\/p>\n<\/td>\n<\/tr>\n<tr class=\"gray-table\">\n<td>\n<p>2<\/p>\n<\/td>\n<td>\n<p>Great Britain<\/p>\n<\/td>\n<td>\n<p><strong>20<\/strong><\/p>\n<\/td>\n<td>\n<p>15<\/p>\n<\/td>\n<td>\n<p>16<\/p>\n<\/td>\n<td>\n<p>51<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td>\n<p>3<\/p>\n<\/td>\n<td>\n<p>RPC (Russia)<\/p>\n<\/td>\n<td>\n<p><strong>14<\/strong><\/p>\n<\/td>\n<td>\n<p>7<\/p>\n<\/td>\n<td>\n<p>21<\/p>\n<\/td>\n<td>\n<p>42<\/p>\n<\/td>\n<\/tr>\n<tr class=\"gray-table\">\n<td>\n<p>4<\/p>\n<\/td>\n<td>\n<p>USA<\/p>\n<\/td>\n<td>\n<p><strong>12<\/strong><\/p>\n<\/td>\n<td>\n<p>9<\/p>\n<\/td>\n<td>\n<p>4<\/p>\n<\/td>\n<td>\n<p>25<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td>\n<p>5<\/p>\n<\/td>\n<td>\n<p>Ukraine<\/p>\n<\/td>\n<td>\n<p><strong>10<\/strong><\/p>\n<\/td>\n<td>\n<p>17<\/p>\n<\/td>\n<td>\n<p>9<\/p>\n<\/td>\n<td>\n<p>36<\/p>\n<\/td>\n<\/tr>\n<tr class=\"gray-table\">\n<td>\n<p>41<\/p>\n<\/td>\n<td>\n<p>Egypt<\/p>\n<\/td>\n<td>\n<p><strong>0<\/strong><\/p>\n<\/td>\n<td>\n<p>4<\/p>\n<\/td>\n<td>\n<p>2<\/p>\n<\/td>\n<td>\n<p>6<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<table class=\"subscribe-button\" width=\"98%\" border=\"0\" cellpadding=\"0\" cellspacing=\"0\" style=\"border-spacing:0;border-collapse:collapse;mso-table-lspace:0;mso-table-rspace:0;\">\n<tr>\n<td align=\"center\" style=\"padding-bottom:20px;padding-top:20px;border-collapse:collapse;mso-table-lspace:0;mso-table-rspace:0;\">\n<table border=\"0\" align=\"center\" cellpadding=\"0\" cellspacing=\"0\" style=\"border-spacing:0;border-collapse:collapse;mso-table-lspace:0;mso-table-rspace:0;\">\n<tbody>\n<tr>\n<td align=\"center\" style=\"border-collapse:collapse;mso-table-lspace:0;mso-table-rspace:0;\">\n<table border=\"0\" cellpadding=\"0\" cellspacing=\"0\" style=\"width:220px;border-spacing:0;border-collapse:collapse;mso-table-lspace:0;mso-table-rspace:0;\">\n<tr>\n<td align=\"center\" class=\"button1\" style=\"border-collapse:collapse;mso-table-lspace:0;mso-table-rspace:0;background-color:#299a0b;-moz-border-radius:4px;-webkit-border-radius:4px;border-radius:4px;word-break:break-word;word-wrap:break-word;\"> <a href=\"egypt\/en\/user\/NewsLetters\" style=\"display:block;border-width:1px;padding-top:10px;padding-bottom:10px;padding-right:10px;padding-left:10px;font-family:Arial, sans-serif;font-size:14px;color:#ffffff;font-weight:bold;line-height:16px;text-decoration:none;text-align:center;background-color:#299a0b;background-image:none;background-repeat:repeat;background-position:top left;background-attachment:scroll;border-style:solid;border-color:#299a0b;-moz-border-radius:4px;-webkit-border-radius:4px;border-radius:4px;\">Subscribe to Enterprise<\/a> <\/td>\n<\/tr>\n<\/table>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/td>\n<\/tr>\n<\/table>\n","protected":false},"excerpt":{"rendered":"<p>Good morning, wonderful people, and welcome to the final days of August. We have a busy news morning for you, so let\u2019s jump right in. THE BIG STORY here at home has to be our potential membership in the African Finance Corporation, which cabinet gave the green light on Thursday, potentially unlocking bns in fresh [&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":[434,102,344,72,119,552,3581,1424,498,3582,151,1844,162,686,117,74],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-558826","post","type-post","status-publish","format-standard","hentry","category-what-were-tracking-today","tag-afghanistan","tag-capital-markets","tag-cryptocurrency","tag-enterpriseam","tag-financial-markets","tag-iraq","tag-jackson-hole","tag-jerome-powell","tag-joe-biden","tag-nilepreneurs","tag-renewables","tag-samih-sawiris","tag-sports","tag-switzerland","tag-us","tag-what-were-tracking-today","wpautop","entry"],"acf":{"mongo_id":"f94df2bf-50fa-4cb1-9373-873ad31fdddd","order":"0","is_powered_by":true,"story_type":"4","photo_url":"","photo_position":"above","related_issue":[558824],"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: Fed to dial back stimulus by year\u2019s end + OPEC+ is expected to open the pumps when it meets on Wednesday - 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\/08\/29\/this-morning-fed-to-dial-back-stimulus-by-years-end-opec-is-expected-to-open-the-pumps-when-it-meets-on-wednesday\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"THIS MORNING: Fed to dial back stimulus by year\u2019s end + OPEC+ is expected to open the pumps when it meets on Wednesday\" \/>\n<meta property=\"og:description\" content=\"Good morning, wonderful people, and welcome to the final days of August. We have a busy news morning for you, so let\u2019s jump right in. 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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":[]},{"id":648640,"url":"https:\/\/enterpriseam.com\/egypt\/2017\/04\/09\/what-were-tracking-on-9-april-2017\/","url_meta":{"origin":558826,"position":2},"title":"What we\u2019re tracking on 9 April 2017","author":"enterpriseam admin","date":"9 April 2017","format":false,"excerpt":"We begin this morning with a holiday advisory if, perchance, the coming respite has slipped off your radar:We are just days away from the Easter \/ Sham El Neseem break \u2014 our first long weekend since January. Banks and the stock market are closed Sunday (16 April) and Monday (17\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":621888,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/11\/21\/what-were-tracking-on-21-november-2018-are-markets-melting-down\/","url_meta":{"origin":558826,"position":3},"title":"What we\u2019re tracking on 21 November 2018: Are markets melting down?","author":"enterpriseam admin","date":"21 November 2018","format":false,"excerpt":"It\u2019s a grim morning out there, ladies and gentlemen, as we head back to the trenches after a beautiful midweek holiday. To wit: US and European equities cratered yesterday, with American equities erasing their gains for the year as a rout kicked off by tech shares deepened and edged into\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\/11\/567.png?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":632674,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/02\/18\/wall-street-finishes-best-week-in-years\/","url_meta":{"origin":558826,"position":4},"title":"Wall Street finishes best week in years","author":"enterpriseam admin","date":"18 February 2018","format":false,"excerpt":"So, is the correction over? The EGX30 gained 1.1% on Thursday and Wall Street on Friday \u201cfinished its best week in years as stocks staged a recovery from a tumultuous period that pushed major indexes into correction territory, a sign that bullish sentiment remained intact,\u201d the Wall Street Journal writes.\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\/2\/1216.png?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":622861,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/10\/15\/what-were-tracking-on-15-october-2018\/","url_meta":{"origin":558826,"position":5},"title":"What we\u2019re tracking on 15 October 2018","author":"enterpriseam admin","date":"15 October 2018","format":false,"excerpt":"** #5 Our friends at Sarwa Capital will ring the bell at the EGX this morning as their shares make their bourse debut, opening at EGP 7.36 each under the ticker SRWA. 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