{"id":559156,"date":"2021-01-12T04:13:08","date_gmt":"2021-01-12T04:13:08","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2021\/01\/12\/what-were-tracking-on-12-january-2021\/"},"modified":"2021-01-12T04:13:08","modified_gmt":"2021-01-12T04:13:08","slug":"what-were-tracking-on-12-january-2021","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2021\/01\/12\/what-were-tracking-on-12-january-2021\/","title":{"rendered":"What we\u2019re tracking on 12 January 2021"},"content":{"rendered":"

Happy hump day, everyone. <\/strong><\/p>\n

<\/a> It\u2019s the first day of the brand new parliament today \u2014 and the first order of business is to <\/strong>choose a speaker.<\/strong> Ali Abdel Aal faces challengers in his bid to return as speaker, as does Soliman Wahdan, who\u2019s seeking another term as Abdel Aal\u2019s number two. Abdel Aal\u2019s main competitors are former president of the Supreme Constitutional Court Hanafi El Gibali and former Legal and Parliamentary Affairs Minister Ibrahim El Heneidi, according to Al Watan<\/a>. Gadfly MP Mostafa Bakry and other members from Mostaqbal Watan, are vying for the deputy speaker post, El Hekaya\u2019s Amr Adib said last night (watch, runtime: 3:33<\/a>).<\/p>\n

And about this <\/strong>rumored cabinet shuffle<\/a><\/strong>:<\/strong> It could come in the next 2-3 weeks, with up to 12 ministers reportedly set to leave office, Masrawy<\/a> reports, quoting unnamed sources. The change in lineup is penciled in for the end of this month or early February, after the men\u2019s Handball World Championship hosted by Egypt wraps up on 31 January, the sources claim.<\/p>\n

Who\u2019s likely to stay? Cabinet\u2019s economic group<\/strong>, which includes Finance Minister Mohamed Maait, Trade Minister Nevine Gamea, Planning Minister Hala El Said, and International Cooperation Minister Rania Al Mashat, all of whom have gotten high marks from global institutions for their response to covid and its impact on the economy. Health Minister Hala Zayed, Education Minister Tarek Shawki, and Supply Minister Aly El Moselhy will also likely keep their positions.<\/p>\n

Who\u2019s headed for the exit? <\/strong>Environment Minister Yasmine Fouad and Culture Minister Enas Abdel Dayem (who could be succeeded by film director Khaled Galal) according to the sources. The tourism and antiquities ministry will also likely be split back into two separate portfolios current minister Khaled El Anany replaced.<\/p>\n

MEANWHILE- Egypt is expected to have opened its airspace to Qatar just a few hours <\/strong>before dispatch this morning, <\/strong>Al Shorouk<\/a> reports, quoting \u201chigh-level\u201d sources. Saudi Arabia, the UAE, and Bahrain \u2014 all of whom joined us last week in signing the declaration<\/a> to restore ties with Qatar \u2014 have already restored flights to Doha<\/a>.<\/p>\n

PSA- Expect warm weather today and tomorrow <\/strong>with daytime highs of 28\u00b0C today and 27\u00b0C tomorrow before the mercury plunges into the teens for the following two weeks.<\/p>\n

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US politics continue to dominate the international headlines<\/strong> after House Democrats yesterday unveiled an impeachment resolution accusing President Donald Trump of engaging in \u201chigh crimes and misdemeanors by inciting violence\u201d against the government during last week\u2019s invasion of the Capitol, according to CBS News<\/a>. The resolution has the backing of at least 210 Dems, and states that Trump has \u201cgravely endangered\u201d the US government. The Associated Press<\/a> has the full four-page bill.<\/p>\n

The House is poised to begin debating the bill tomorrow \u2014 but is giving cabinet and the <\/strong>VP a chance to boot Agent Orange out, first<\/strong>. <\/strong>Lawmakers are attempting to pass a measure calling on VP Mike Pence and the cabinet to invoke the 25th Amendment. The measure was blocked yesterday by House Republicans, but it\u2019s still expected to pass in a roll call vote scheduled for today. The ultimatum as drafted would give Pence 24 hours to act. If he doesn\u2019t, impeachment proceedings would follow.<\/p>\n

Reminder: There\u2019s a new administration coming on 20 January. <\/strong>Here\u2019s who Joe Biden has so far tapped to sit around the cabinet table, courtesy the WSJ<\/a>.<\/p>\n

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The FinMin wants small businesses to understand the benefits of going legit:<\/strong> The ministry has sent out letters<\/a> to small firms reminding them of the tax incentives offered in the SMEs Act<\/a> passed last year. The law offers preferential rates to SMEs and exempts them from having to file their accounts with the Tax Authority.<\/p>\n

The tax brackets are follows:<\/strong><\/p>\n