{"id":559194,"date":"2021-01-13T03:49:22","date_gmt":"2021-01-13T03:49:22","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2021\/01\/13\/what-were-tracking-on-13-january-2021\/"},"modified":"2021-01-13T03:49:22","modified_gmt":"2021-01-13T03:49:22","slug":"what-were-tracking-on-13-january-2021","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2021\/01\/13\/what-were-tracking-on-13-january-2021\/","title":{"rendered":"What we\u2019re tracking on 13 January 2021"},"content":{"rendered":"

We have plenty of news for you on this fine Wednesday morning<\/strong>, 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 help banks meet aggressive new capital requirements \u2014 and make sure they have a buffer to deal with the impact of covid-19. We have chapter and verse in this morning\u2019s news well, below.<\/p>\n

Also big today: <\/strong>We have a new speaker of the House of Representatives as newly sworn-in MPs meet today to sort out committee assignments and elect committee chairs. The process could wrap up as early as tomorrow, Al Shorouk<\/a> reports.<\/p>\n

What legislation will keep those committees busy? <\/strong>Funny you should ask: Tap or click here<\/a>to read our primer<\/a> on the business-relevant bills we think are going to come up this session.<\/p>\n

Dominating the conversation on Egypt in the international press this morning: We\u2019ve <\/strong>formally reopened air space to flights into and out of Qatar. <\/strong>EgyptAir will run up to two daily flights between Cairo and Doha and four weekly trips from Alexandria\u2019s Borg El Arab Airport starting Monday, 18 January, EgyptAir Holding Company Chairman Roshdy Zakaria said yesterday (watch, runtime: 3:01<\/a>). Reuters<\/a>, the Associated Press<\/a> and Bloomberg<\/a> all have the story.<\/p>\n

PSA<\/strong>- The weather isn\u2019t looking great for the rest of the week<\/strong>, with a sand storm forecast<\/a> for Cairo and the Delta today and tomorrow. Your best hope: <\/strong>Our favourite weather app shows a chance of a shower sometime today to wash all that dust away, but the [redacted] conditions look likely to continue overnight. Look for a daytime high of 25\u00b0C today, falling to 19\u00b0C tomorrow.<\/p>\n

THE BIG STORY internationally this morning: Republicans are beginning to turn on Trump.<\/strong> The prospect of an unprecedented second impeachment trial against The Donald grew more likely yesterday as Republicans began to break ranks and come out in support of legal action against the president for last week\u2019s White Riot. Though VP Mike Pence still seems to be fighting King Cheeto\u2019s corner<\/a>, Politico<\/a> reports that a growing number of House Republicans came out in favor of impeachment \u2014 including no.3 House Republican Liz Cheney. And in a further sign that the president has lost his grip on the party, Senate Majority Leader Mitch McConnell and House Minority Leader Kevin McCarthy were also said to be open to punishing the president for seemingly encouraging an insurrection against Congress.<\/p>\n

Egypt isn\u2019t the only country trying to make sure Big Tech pays fair freight:<\/strong> Germany is getting ready to work with the incoming Biden administration to push forward with a global corporate tax plan put forward by the OECD last year, according to the Financial Times<\/a>. Berlin is hoping that a Democrat-run White House will be more amenable to the OECD\u2019s plans, which involve cracking down on international tax avoidance and closing loopholes that could net countries an extra USD 100 bn in tax revenue each year. Here at home:<\/strong> Egypt is looking to make sure that online sales (of goods, services and advertisements) by tech companies are subject to the same type of VAT and stamp tax requirements as their domestic, real-world competitors.<\/p>\n

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CIRCLE YOUR CALENDAR-<\/strong><\/p>\n

The 2021 Men\u2019s Handball World Championship kicks off today<\/strong>, with hosts Egypt playing Chile at the Cairo Stadium at 7pm. Both the US<\/a> and the Czech Republic<\/a> pulled out of the tournament yesterday for covid-related reasons: they will be replaced by Switzerland and North Macedonia respectively.<\/p>\n

Remember: The entire tournament is being played behind closed doors<\/strong>, but if you want to catch any of the games on TV, here\u2019s how<\/a>. You can find the full match schedule here<\/a>.<\/p>\n

Samsung will unveil its latest Galaxy flagship<\/strong>, the S21 on Thursday<\/a>, coinciding with the virtual-only Consumer Electronics Show<\/a>, which began yesterday.<\/p>\n

For the iSheep: <\/strong>Apple has a \u201cbig announcement today,\u201d<\/a> but it\u2019s not a new device \u2014 it\u2019s \u201cbigger and better.\u201d<\/p>\n

We\u2019re a little over two weeks away from our next long weekend.<\/strong> The nation is expected to take Thursday, 28 January as a holiday in observance of Police \/ Revolution Day, which falls on Monday, 25 January.<\/p>\n

We then settle in for our long holiday drought: Your next day off will be mid-Ramadan. <\/strong>The Holy Month should start on or about Monday, 13 April.<\/p>\n

enterprise<\/p>\n

*** It\u2019s Hardhat day \u2014 your weekly briefing of all things infrastructure in Egypt:<\/strong> Enterprise\u2019s industry vertical focuses each Wednesday on infrastructure, covering everything from energy, water, transportation, urban development and as well as social infrastructure such as health and education.<\/p>\n

In today\u2019s issue: <\/strong>Part two of our rundown on what to expect in key areas of Egypt\u2019s infrastructure in 2021. In part one<\/a>, last week, we looked at what the year has in store for the water and renewable energy sectors. Today, our focus is on transportation, the natural gas transition, ICT and telecoms, and Iraq\u2019s \u201creconstruction\u201d mechanism.<\/p>\n","protected":false},"excerpt":{"rendered":"

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. 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What you expect the exchange rate to be. Whether interest rates are winds at your back \u2014 or headwinds. Take part in the largest poll of executive sentiment in Egypt, and we\u2019ll\u2026","rel":"","context":"In "What We're Tracking Today"","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\/655.png?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":650531,"url":"https:\/\/enterpriseam.com\/egypt\/2017\/03\/27\/what-were-tracking-on-27-march-2017\/","url_meta":{"origin":559194,"position":3},"title":"What we\u2019re tracking on 27 March 2017","author":"enterpriseam admin","date":"27 March 2017","format":false,"excerpt":"Bahrain\u2019s King Hamad bin Isa Al Khalifa is in Cairo today on an official visit, according to Bahrain News Agency. Bahrain\u2019s Royal Court said in a statement short on specifics that the king will meet with President Abdel Fattah El Sisi to discuss bilateral relations.Central Bank of Egypt Governor Tarek\u2026","rel":"","context":"In "What We're Tracking Today"","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":647850,"url":"https:\/\/enterpriseam.com\/egypt\/2017\/05\/22\/what-were-tracking-this-week-181\/","url_meta":{"origin":559194,"position":4},"title":"What we\u2019re tracking this week","author":"enterpriseam admin","date":"22 May 2017","format":false,"excerpt":"Budget talks at the House: Discussion of the FY2017-18 budget continue today at the House of Representatives, according to Al Mal, with Supply Minister Ali El Moselhy set to meet with members of the economics and budget committees. The budget committee is also expected to discuss spending priorities with the\u2026","rel":"","context":"In "What We\u2019re Tracking This Week"","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":645327,"url":"https:\/\/enterpriseam.com\/egypt\/2017\/07\/18\/what-were-tracking-on-18-july-2017\/","url_meta":{"origin":559194,"position":5},"title":"What we\u2019re tracking on 18 July 2017","author":"enterpriseam admin","date":"18 July 2017","format":false,"excerpt":"Some banks have begun selling FX to private citizens without requiring travel documents in what Al Borsa says is a sign of improving availability of foreign exchange. Some banks surveyed were limiting sales to USD 2k per person, while others were reportedly selling with no limit.CIT Minister Yasser El Kadi\u2026","rel":"","context":"In "What We're Tracking Today"","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\/559194","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=559194"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/559194\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/559192"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=559194"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=559194"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=559194"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=559194"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=559194"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}