{"id":560859,"date":"2021-03-16T04:24:45","date_gmt":"2021-03-16T04:24:45","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2021\/03\/16\/what-were-tracking-on-16-march-2021\/"},"modified":"2021-03-16T04:24:45","modified_gmt":"2021-03-16T04:24:45","slug":"what-were-tracking-on-16-march-2021","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2021\/03\/16\/what-were-tracking-on-16-march-2021\/","title":{"rendered":"What we\u2019re tracking on 16 March 2021"},"content":{"rendered":"<p><strong>Good morning, nice people, and welcome to a policy- and legislation-heavy issue <\/strong>after the run of M&A that has dominated headlines for the past week and a half.<\/p>\n<p><strong>We\u2019re also feeling very green this morning. <\/strong>Not because it\u2019s nearly St. Patrick\u2019s Day, but because we\u2019re launching our new green economy vertical. And in the news well this morning, we have coverage of the FRA\u2019s drive to push non-bank financial services players to put all things green at the center of their business models.<\/p>\n<p><a class=\"content-anchor\" id=\"tldr-story-01\"><\/a> <strong>THE BIG STORY INTERNATIONALLY:<\/strong> The list of countries pausing the rollout of AstraZeneca\u2019s vaccine grows bigger: <a href=\"https:\/\/www.ansm.sante.fr\/S-informer\/Points-d-information-Points-d-information\/Point-de-situation-sur-le-lot-ABV5300-du-vaccin-AstraZeneca-contre-la-COVID-19\">France<\/a>, <a href=\"https:\/\/www.aifa.gov.it\/en\/web\/guest\/-\/aifa-sospensione-precauzionale-del-vaccino-astrazeneca\">Italy<\/a>, <a href=\"http:\/\/bit.ly\/3tmS3qD\">Spain<\/a> and <a href=\"https:\/\/www.pei.de\/DE\/newsroom\/hp-meldungen\/2021\/210315-voruebergehende-aussetzung-impfung-covid-19-impfstoff-astra-zeneca.html;jsessionid=B1AF60236E0A15E7D21CDF3415BB819B.intranet231\">Germany<\/a> are temporarily suspending the use of the vaccine, pending further investigation after a handful of cases in which people reported developing blood clots after taking the jab. Austria, Norway, Ireland, the Netherlands and Denmark have <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/5b61a68f-0c3a-4551-9600-189a03070e9b\">also<\/a> pressed pause in recent days.<\/p>\n<p><strong>But the WHO insists there is \u201cno evidence\u201d of a direct link between the jab and<\/strong><strong> blood clotting incidents<\/strong>, saying in a statement picked up by <a href=\"https:\/\/www.euronews.com\/2021\/03\/15\/world-health-organization-reaffirms-safety-of-oxford-astrazeneca-covid-19-vaccine\">Euronews<\/a> yesterday it is reviewing the reports and adverse effects. The organization urged governments to press ahead with vaccine rollouts to \u201csave lives and stem severe disease from the virus.\u201d<\/p>\n<p><strong>Uh, can we talk statistics for a moment? <\/strong>The European Medicines Agency is a voice of reason here, with the <a href=\"https:\/\/www.nytimes.com\/2021\/03\/15\/world\/europe\/astra-zeneca-vaccine-europe.html\">New York Times<\/a> quoting it as saying, \u201cthe numbers of such problems reported in vaccinated people did not seem higher than those usually seen in the general population.\u201d As one top British regulator put it: \u201cWe are closely reviewing reports but the evidence available does not suggest the vaccine is the cause.\u201d<\/p>\n<p><strong>So would we take AstraZeneca this morning, if offered the chance? <\/strong>Yep. 100%.<\/p>\n<p><strong>The AstraZeneca vaccine \u2014 one of Egypt\u2019s jabs of choice \u2014 is still being administered in<\/strong> <strong>Canada, Belgium, Poland, the Czech Republic, and Ukraine.<\/strong> Thailand is also set to begin rolling out the jab today, after safety concerns led to a \u201cbrief delay,\u201d <a href=\"https:\/\/www.bbc.com\/news\/world-europe-56404542\">BBC<\/a> notes.<\/p>\n<p><strong>Egypt is set to receive some 40 mn doses of the vaccine this year<\/strong>, with the first batch of 6 mn doses set to <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/5b61a68f-0c3a-4551-9600-189a03070e9b\">arrive by the end of the month<\/a> as part of an 8.6 mn dose order placed through the Gavi \/ Covax program.<\/p>\n<p><a class=\"content-anchor\" id=\"tldr-story-06\"><\/a> <strong>*** CATCH UP QUICK<\/strong> from Monday's edition of EnterprisePM:<\/p>\n<ul>\n<li><strong>Egytrans has <\/strong><strong>conditionally <\/strong><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/87cd18b5-f1ca-4e94-9556-be003f2311c5\">approved Hassan Allam Utilities' purchase offer<\/a><\/strong> to take over a controlling stake in the company via a reverse merger.<\/li>\n<li><strong>GSK Egypt has<\/strong><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/87cd18b5-f1ca-4e94-9556-be003f2311c5\">turned down Acdima\u2019s request<\/a><\/strong> to start due diligence, closing sale talks.<\/li>\n<li><strong>Taaleem Management Services has valued its initial public offering<\/strong> on the Egyptian bourse at <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/b0779d2d-50f1-4135-92fe-1ad2021a29b1\">EGP 5.48-6.02 per share<\/a>. Taaleem submitted its formal request to list on the EGX and its shares could start trading as early as next month, according to a report in this morning\u2019s print edition of Al Mal. <\/li>\n<\/ul>\n<hr class=\"grey-line\">\n<p class='web-image'><img data-recalc-dims=\"1\" src=\"https:\/\/i0.wp.com\/ent.news\/2021\/3\/INFINITY-Top-banner-EN-1600x675-v2-02.png?ssl=1\" alt='enterprise'><\/p>\n<p><strong>We promised you late in November that we were redoubling our focus on the issues that <\/strong><strong>will define our generation. <\/strong>The list of policy issues that will shape our lives (in business and out) is long, but few are more all-encompassing than climate. With that in mind:<\/p>\n<p><strong>We\u2019re honoured this morning to launch<\/strong><strong> Going Green \u2014 your weekly briefing of all things <\/strong><strong>green economy in Egypt \u2014 with the support of our friends at Infinity. <\/strong>Our third weekly industry vertical, Going Green will focus on the business of renewable energy and sustainable practices in Egypt. The scope of the Going Green is massive, covering everything from solar and wind energy through to water, waste management, sustainable building practices and how you can make your business greener, whatever the sector.<\/p>\n<p><strong>Look for Going Green every Tuesday <\/strong>for a hand-picked selection of stories, analysis pieces, explainers, interviews, and reports that will help keep you informed on the green economy.<\/p>\n<p><strong>In today\u2019s issue: <\/strong>Egypt\u2019s USD 750 mn sovereign green bond issuance made waves <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/5d1b54d5-5efa-41c9-ac8b-728b105b2ef0\">last year<\/a>. But other planned issuances stalled amid covid turbulence. This looks set to change in 2021, with more sovereign green bond issuances planned and CIB looking to close the first tranche of its USD 100 mn corporate green bond issuance \u2014 Egypt\u2019s first \u2014 by 1H2021. This is all being spurred by investor appetite for Egyptian debt, green bonds, and ESG investment, sources tell Enterprise.<\/p>\n<hr class=\"grey-line\">\n<p><strong>WHAT\u2019S HAPPENING TODAY-<\/strong><\/p>\n<p><strong>The Federal Reserve begins its two-day meeting to decide interest rates today. <\/strong><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/2207bb35-863b-42d7-9f96-f2be406dcec4\">The<\/a><\/strong><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/2207bb35-863b-42d7-9f96-f2be406dcec4\">consensus:<\/a><\/strong> No rate hikes until 2023 and the USD 120 bn-a-month bond buying program will be left untouched. But the recent rise in US treasury yields means markets are pricing for an earlier than originally expected rate hike, writes DoubleLine Capital portfolio manager Gregory Whiteley for the <a href=\"https:\/\/www.ft.com\/content\/a6567455-66d2-46c8-b2c6-fdd54b6a1ce8\">Financial Times<\/a>, and the Fed may have to scale up its asset purchase program to increase its support if it wants to achieve its target of full employment before enacting an increase.<\/p>\n<p><strong>It\u2019s also interest rate week here at home:<\/strong> The Central Bank of Egypt meets on Thursday to review interest rates. All 12 analysts we spoke with for our regular poll <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/4e93cbb9-79ef-4b1d-807b-d74d1637b427\">believe the central bank<\/a><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/4e93cbb9-79ef-4b1d-807b-d74d1637b427\">will leave rates on hold<\/a>. A <a href=\"https:\/\/www.nasdaq.com\/articles\/poll-egypt-central-bank-forecast-to-leave-interest-rates-unchanged-2021-03-15\">Reuters<\/a> poll published yesterday indicates the same anticipated outcome.<\/p>\n<p><strong>Local banks will be able to settle USD transactions for their retail clients within the same <\/strong><strong>working day beginning 1 April<\/strong>, and EUR transactions shortly thereafter, Central Bank of Egypt (CBE) Deputy Governor Rami Aboul Naga told <a href=\"https:\/\/bit.ly\/3qVfC8E\">Al Arabiya<\/a> yesterday. The CBE will first introduce the quicker settlement mechanism to foreign currency interbank payments on 22 March, under <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/fda287e7-5aec-4eb7-952a-e7ce22c88588\">a recent decision<\/a> that aims to make FX transfers in Egypt less costly for banks and faster for clients, and then extend the system to the day-to-day USD payments made by bank clients to third parties.<\/p>\n<p><strong>PSA- Visit your local moroor and get an RFID sticker affixed<\/strong> to your car\u2019s windshield before the deadline on 30 March, the Interior Ministry said in <a href=\"https:\/\/bit.ly\/3qSYoZb\">a reminder<\/a> yesterday.<\/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>CIRCLE YOUR CALENDAR-<\/strong><\/p>\n<p><strong>Business tech expert and TEDx speaker <\/strong><strong><a href=\"https:\/\/www.patrickschwerdtfeger.com\/\">Patrick Schwerdtfeger<\/a><\/strong> will explain how entrepreneurs, businesses and investors can harness disruptive tech during a two-hour webinar hosted by AmCham <strong>today at 3:00pm CLT.<\/strong> The two-hour event will see Schwerdtfeger talk block chain, AI and crypto, and discuss how the business community can reposition in a world undergoing rapid technological change. You can register for the event <a href=\"https:\/\/www.amcham.org.eg\/events-activities\/events\/online-paid-registration\/1348\">here<\/a>.<\/p>\n<p><strong>Egyptian tennis champion Mayar Sherif will participate in the Miami Open Main <\/strong><strong>Draw<\/strong>, with the 2021 tournament taking place between 22 March and 4 April, Sherif announced on <a href=\"https:\/\/bit.ly\/30MDHUu\">Facebook<\/a>. As a \u201cwild card\u201d Sherif was directly invited to play by the tournament organizers.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Good morning, nice people, and welcome to a policy- and legislation-heavy issue after the run of M&#038;A that has dominated headlines for the past week and a half. We\u2019re also feeling very green this morning. Not because it\u2019s nearly St. Patrick\u2019s Day, but because we\u2019re launching our new green economy vertical. And in the news [&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":[115,72,74],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-560859","post","type-post","status-publish","format-standard","hentry","category-what-were-tracking-today","tag-emerging-markets","tag-enterpriseam","tag-what-were-tracking-today","wpautop","entry"],"acf":{"mongo_id":"460ad639-db64-4ae4-b482-2553df847c61","order":"0","is_powered_by":true,"story_type":"4","photo_url":"","photo_position":"above","related_issue":[560857],"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>What we\u2019re tracking on 16 March 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\/03\/16\/what-were-tracking-on-16-march-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 16 March 2021\" \/>\n<meta property=\"og:description\" content=\"Good morning, nice people, and welcome to a policy- and legislation-heavy issue after the run of M&amp;A that has dominated headlines for the past week and a half. 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We\u2019re also feeling very green this morning. Not because it\u2019s nearly St. Patrick\u2019s Day, but because we\u2019re launching our new green economy vertical. 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We made it through another week together. There are just 21 days left in 2020, if you \u2014 like us \u2014 are keeping count. *** We\u2019re a bit late this morning because one of our cloud services is glitching this morning. We\u2019ve addressed most of the problem,\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":561036,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/03\/23\/what-were-tracking-on-23-march-2021\/","url_meta":{"origin":560859,"position":1},"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 &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":567848,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/12\/09\/what-were-tracking-on-9-december-2020\/","url_meta":{"origin":560859,"position":2},"title":"What we\u2019re tracking on 9 December 2020","author":"enterpriseam admin","date":"9 December 2020","format":false,"excerpt":"Good morning, wonderful people, and welcome to Wednesday, where the big news remains the rollout of Pfizer and BioNTech\u2019s covid-19 vaccine in the UK \u2014 the first widescale vaccination campaign with an internationally tested jab. The news dominates front pages across the globe this morning, from the Financial Times 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":635400,"url":"https:\/\/enterpriseam.com\/egypt\/2017\/12\/04\/what-were-tracking-this-week-82\/","url_meta":{"origin":560859,"position":3},"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 &quot;What We\u2019re Tracking This Week&quot;","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":561749,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/04\/20\/this-morning-european-investment-bank-faces-reckoning-over-allegations-of-toxic-workplace-em-green-bond-issuances-look-set-to-double-by-2023\/","url_meta":{"origin":560859,"position":4},"title":"THIS MORNING: European Investment Bank faces reckoning over allegations of toxic workplace + EM green bond issuances look set to double by 2023","author":"enterpriseam admin","date":"20 April 2021","format":false,"excerpt":"Good morning, everyone, and welcome to day eight of Ramadan. We have yet to hear from the Central Bank of Egypt and the EGX on what to expect this weekend, but it looks likely that we\u2019re heading into a three-day break in observance of Sinai Liberation Day on Sunday, 25\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":639018,"url":"https:\/\/enterpriseam.com\/egypt\/2017\/10\/19\/what-were-tracking-on-19-october-2017\/","url_meta":{"origin":560859,"position":5},"title":"What we\u2019re tracking on 19 October 2017","author":"enterpriseam admin","date":"19 October 2017","format":false,"excerpt":"** A NOTE TO YOU FROM US: One of our smartest readers pointed out earlier this week that some of you might not know why we deliberately redact or shorten some words in Enterprise \u2014 or make passing references to \u201calgorithms that govern our deliverability to your inboxes.\u201d It\u2019s not,\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":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/560859","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=560859"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/560859\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/560857"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=560859"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=560859"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=560859"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=560859"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=560859"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}