{"id":559518,"date":"2021-01-25T04:01:12","date_gmt":"2021-01-25T04:01:12","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2021\/01\/25\/what-were-tracking-on-25-january-2021\/"},"modified":"2021-01-25T04:01:12","modified_gmt":"2021-01-25T04:01:12","slug":"what-were-tracking-on-25-january-2021","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2021\/01\/25\/what-were-tracking-on-25-january-2021\/","title":{"rendered":"What we\u2019re tracking on 25 January 2021"},"content":{"rendered":"

Ten years ago this morning<\/strong>, one of us turned the corner onto Road 9 in Maadi while on an early-morning coffee run and mumbled about how we could expect exactly nothing to come from demonstrations planned later in the day. An object lesson in hubris\u2026<\/p>\n

Twenty years ago this morning<\/strong>, the same now-greybeard landed in Egypt, a country that gave him the chance to create a family, make lifelong friendships, and together with partners build an awesome business. Thank you to each and everyone one of you who have helped make this possible, directly and indirectly.<\/p>\n

Thursday will be a paid holiday for the private sector<\/strong> as the nation takes a day off to observe Revolution Day \/ Police Day, the Manpower Ministry said yesterday<\/a>. The central bank has confirmed that Thursday is a bank holiday, so you can expect an announcement soon from the EGX any day now.<\/p>\n

That sets us up for our customary winter-spring holiday drought:<\/strong> Our next vacation is the 25 April celebration of Sinai Liberation Day, which comes mid-Ramadan. The Holy Month is due to start on or about 13 April.<\/p>\n

THE BIG STORY at home this morning: We\u2019re in day two of our covid-19 vaccination<\/strong> campaign \u2014 and it looks like we\u2019re about to land manufacturing rights <\/strong>for a jab. Taken together, it is the most positive news of the pandemic we\u2019ve had in nearly a year. We have chapter and verse in the news well, below.<\/p>\n

BIG STORIES internationally: <\/strong>The business press is still getting its bearings when it comes to coverage of the Biden administration, which dominates front pages globally. The Financial Times<\/a> notes that Democrats are pushing for a USD 1.9 tn stimulus package<\/strong> before they start the impeachment trial of former president Donald Trump in the US Senate. Republicans think the package is too large. Reuters is also leading with the story, while the Wall Street Journal reports that China has overtaken the US as the world\u2019s leading destination for foreign direct investment<\/a><\/strong>.<\/p>\n

WHAT\u2019S HAPPENING TODAY- <\/strong><\/p>\n

<\/a> SMART POLICY- Egypt is <\/strong>teaming up<\/a><\/strong> with the United Kingdom to push for practical <\/strong>measures to fight (and cope with) climate change.<\/strong> The initiative will be joined by the Netherlands, Bangladesh, Malawi and Saint Lucia and will push for \u201cearly warning systems for storms and investments in flood drainage and in drought-resistant crops<\/strong>,\u201d Reuters adds. UK Prime Minister Boris Johnson will announce the Adaptation Action Coalition today as leaders from world powers gather<\/a> for the two-day, online-only Climate Adaptation Summit<\/a>. The news comes just days after the Biden administration said it would rejoin the 2015 Paris agreement on climate change.<\/p>\n

<\/a> The World Economic Forum\u2019s <\/strong>Davos Agenda<\/a><\/strong> kicks off today and runs through<\/strong> Friday. <\/strong>The Swiss ski town of Davos, which traditionally plays host to the annual gathering, is getting a break this year as the coronavirus forces the global elite to take to Zoom. A discussion on the global economic recovery will open the conference this morning while Chinese President Xi Jinping will be able to set the tone for the event when he gives the first special address in the afternoon.<\/p>\n

An in-person WEF event is still in the cards for this year<\/strong>, scheduled to take place between<\/a>25<\/a>-28 May in Singapore<\/a>.<\/p>\n

IN OUR BACKYARD: Turkey resumes talks with Greece today after a five year <\/strong>hiatus <\/strong>marked by conflicts over maritime disputes in the Mediterranean, migration, and the divided island of Cyprus, Reuters<\/a> reports.<\/p>\n

IN THE HOUSE- <\/strong><\/p>\n

Ministers <\/strong>appearing continue to present policy priorities to MPs.<\/a><\/strong> The irrigation and agriculture ministers went yesterday. Today will see Manpower Minister Mohamed Saafan and Emigration Minister Nabila Makram speak on unemployment and expatriate affairs today, while Foreign Minister Sameh Shoukry \u2014 who is expected to discuss what the new US administration means for Egypt \u2014 and Civil Aviation Minister Mohamed Manar Enaba will speak on Tuesday. Environment Minister Yasmine Fouad and Culture Minister Enas Abdel Dayem are up on Wednesday.<\/p>\n

Also happening at the House this week: <\/strong>The House Planning and Budgeting Committee convenes today to discuss proposed amendments to the VAT Act<\/strong> and a bill <\/strong>to exempt<\/a><\/strong> government treasuries <\/strong>sold internationally from fees and taxes,<\/strong> reports Al Mal<\/a>. The changes to the VAT law<\/a> would apply the 14% tax to the rent and purchase of commercial and administrative properties.<\/p>\n

The amendments would, if passed, also hike taxes on crackers and some forms of <\/strong>sweets<\/strong> by scrapping a 5% schedule tax and instead making them subject to the full 14% VAT.<\/p>\n

Further down the House\u2019s list of legislative priorities:<\/strong> The House ICT Committee expects to begin discussing the draft E-Commerce Act<\/a> next month when the Madbouly Cabinet ships it back to parliament, committee head Ahmed Badawy tells the local press<\/a>. The proposed law would tax the living daylights out of global tech giants for their ads and purchases made on their platforms.<\/p>\n

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The roundup of news and trends that move your markets and shape corporate agendas delivered straight to your inbox.<\/p>\n

Subscribe here<\/a>\n <\/div>\n<\/p><\/div>\n<\/div>\n

Egypt has qualified to the quarter-finals of the 2021 Men\u2019s Handball World <\/strong>Championships<\/strong>, after drawing 25-25 with Slovenia<\/a> in the final group game yesterday. The Pharaohs took the lead in the second half before the eastern European side scored a late equalizer. Egypt finished the group with 7 points, a point behind group #1 Sweden.<\/p>\n

We could be facing the world champions in the quarters: <\/strong>Egypt will face the team that finishes top of group two, which as things stand would be the defending world champion Denmark. The game will take place on Wednesday at 6:30 pm CLT.<\/p>\n

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

Russian officials will land in Hurghada on Wednesday<\/strong> for the umpteenth inspection of the airport\u2019s security measures, ahead of a possible resumption of flights between Russia and the Red Sea resort town, Al Masry Al Youm<\/a> reports.<\/p>\n

Tenders to set up three new commercial and logistics zones <\/strong>in Ismailia, Qalyubia, and South Sinai will be launched this month, head of the Internal Trade Development Agency Ibrahim Ashmawy told Al Mal<\/a>. Each zone will reel in some EGP 1.5 bn - 5 bn in investments, Ashmawy said.<\/p>\n

FOR THE PHOTO NERDS among us: You\u2019re getting new cameras this week. <\/strong>Fujifilm will<\/a>announce a (small) medium format GFX100S on Wednesday<\/a> that looks set to be smaller and more affordable than the GFX100, but with the same 100MP sensor. Also look for a new compact X-E4 in the X-mount and some lenses. Sony is teasing a new camera tomorrow<\/a>, but details are scant: The leader in mirrorless camera sales is promising only \u201cThe one never seen.\u201d Whatever that means.<\/p>\n

PSA- <\/strong>Businesses have until 31 January (next Sunday) to file wage tax <\/strong>returns for 2020<\/strong> including separate filings for the first and second halves of the year. Sole traders and folks who generate income from outside of their day job will also need to file electronically for the first time.<\/p>\n

Time is running out if you haven\u2019t paid income, value-added, or real estate taxes<\/strong> and want to settle up without all the late fees.<\/strong> Late taxpayers are still eligible for a 50% exemption on interest fees and late penalties until 12 February<\/a> under a bill<\/a> passed last year.<\/p>\n

enterprise<\/p>\n

*** It\u2019s Blackboard day:<\/strong> We have our weekly look at the business of education in Egypt, from pre-K through the highest reaches of higher ed. Blackboard appears every Monday in Enterprise in the place of our traditional industry news roundups.<\/p>\n

In today\u2019s issue: <\/strong>A centralized Tansik-style platform<\/a> for private university admissions is being set up, and we\u2019ve previously looked at what to expect from it<\/a> and the reasons behind<\/a> launching it. Today we examine the big concerns with the new system \u2015 namely that it will negatively impact student choice through its electronic allocation mechanism and that universities\u2019 bottom lines may take a hit if student target numbers aren\u2019t reached.<\/p>\n","protected":false},"excerpt":{"rendered":"

Ten years ago this morning, one of us turned the corner onto Road 9 in Maadi while on an early-morning coffee run and mumbled about how we could expect exactly nothing to come from demonstrations planned later in the day. An object lesson in hubris\u2026 Twenty years ago this morning, the same now-greybeard landed in […]<\/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":[3661,107,72,274,180,74],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-559518","post","type-post","status-publish","format-standard","hentry","category-what-were-tracking-today","tag-2021-handball-world-championships","tag-covid-19","tag-enterpriseam","tag-house-of-representatives","tag-legislation","tag-what-were-tracking-today","wpautop","entry"],"acf":{"mongo_id":"0c93c9d4-a43b-4267-afdd-5c3ae4b54779","order":"0","is_powered_by":true,"story_type":"4","photo_url":"","photo_position":"above","related_issue":[559516],"teaser":"","voice_url":""},"yoast_head":"\nWhat we\u2019re tracking on 25 January 2021 - 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\/01\/25\/what-were-tracking-on-25-january-2021\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"What we\u2019re tracking on 25 January 2021\" \/>\n<meta property=\"og:description\" content=\"Ten years ago this morning, one of us turned the corner onto Road 9 in Maadi while on an early-morning coffee run and mumbled about how we could expect exactly nothing to come from demonstrations planned later in the day. 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Banks and the stock market are closed Sunday (16 April) and Monday (17\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":604808,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/12\/13\/what-were-tracking-on-12-december-2018-2\/","url_meta":{"origin":559518,"position":2},"title":"What we\u2019re tracking on 12 December 2018","author":"enterpriseam admin","date":"13 December 2018","format":false,"excerpt":"It\u2019s a pleasantly quiet morning to end a very hectic week. We hope all of you are looking forward to the weekend as much as we are. The highlight of the day is likely to be Tourism Minister Rania Al Mashat\u2019s unveiling of her turnaround plan for the industry. Tourism\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":559883,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/02\/08\/what-were-tracking-on-8-february-2021\/","url_meta":{"origin":559518,"position":3},"title":"What we\u2019re tracking on 8 February 2021","author":"enterpriseam admin","date":"8 February 2021","format":false,"excerpt":"Good morning, friends, and welcome to a pleasantly brisk news morning to kick off what\u2019s shaping up to be a gorgeous, sunny day. THE BIG NEWS here at home? No single story from the world of business, public policy or foreign affairs is dominating the headlines, though you can expect\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":561036,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/03\/23\/what-were-tracking-on-23-march-2021\/","url_meta":{"origin":559518,"position":4},"title":"What we\u2019re tracking on 23 March 2021","author":"enterpriseam admin","date":"23 March 2021","format":false,"excerpt":"Good morning, friends, and welcome to Tuesday. It\u2019s a brisk news morning for you today, with news from across a wide spectrum of industries and a quiet day on the government affairs and regulation fronts. The two biggest stories of the day are out of the healthcare sector: Consumer healthcare\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":635400,"url":"https:\/\/enterpriseam.com\/egypt\/2017\/12\/04\/what-were-tracking-this-week-82\/","url_meta":{"origin":559518,"position":5},"title":"What we\u2019re tracking this week","author":"enterpriseam admin","date":"4 December 2017","format":false,"excerpt":"Tomorrow is PMI day: The Emirates NBD \/ Markit purchasing managers\u2019 index for Egypt, the UAE and Saudi Arabia will be out on Tuesday morning at about 6:15am. Look for it here when it\u2019s released.","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":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/559518","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=559518"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/559518\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/559516"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=559518"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=559518"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=559518"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=559518"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=559518"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}