{"id":561036,"date":"2021-03-23T03:59:25","date_gmt":"2021-03-23T03:59:25","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2021\/03\/23\/what-were-tracking-on-23-march-2021\/"},"modified":"2021-03-23T03:59:25","modified_gmt":"2021-03-23T03:59:25","slug":"what-were-tracking-on-23-march-2021","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2021\/03\/23\/what-were-tracking-on-23-march-2021\/","title":{"rendered":"What we\u2019re tracking on 23 March 2021"},"content":{"rendered":"

Good morning, friends, and welcome to Tuesday. <\/strong>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.<\/p>\n

The two biggest stories of the day are out of the healthcare sector: <\/strong>Consumer healthcare giant IDH has gotten regulatory approval to move ahead with a technical listing on the EGX. And on the covid front, there now appears to be a chance we\u2019re going to manufacture Sinovac\u2019s vaccine here in Egypt, although talks appear to be at a reasonably early stage. Sinovac is not the same as the Sinopharm jab we\u2019re deploying now in the first phase of vaccine rollouts here in Egypt, as we explain below, and has a lower efficacy rate.<\/p>\n

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

Prime Minister Moustafa Madbouly will be in Amman today<\/strong> to attend a meeting of the Joint Jordanian-Egyptian Higher Committee, which will discuss economic, commercial, and investment ties. according to Jordan\u2019s Petra<\/a> news agency.<\/p>\n

AUC Venture Lab is hosting a virtual roundtable event today<\/strong> to discuss Up-Fuse<\/a>\u2019s growth from local startup to internationally-recognized social enterprise. Find out more here (pdf)<\/a>.<\/p>\n

MARKET WATCH-<\/strong><\/p>\n

The EGX is now in the red for the year to date <\/strong>after the EGX30 fell 2.5% yesterday on reasonably low turnover (at just under EGP 940 mn, it\u2019s about 36% below the trailing 90-day average). The benchmark index is now down 2.8% YTD after having spent most of the time since 1 January solidly in the green.<\/p>\n

The details of Egyptian Iron and <\/strong>Steel\u2019s liquidation<\/strong> will be announced in the <\/strong>coming days<\/strong>, the local press<\/a> reported, citing sources it claims have knowledge of the decision. The company is being liquidated in atwo-year process<\/a> that includes spinning off its mining operation to create a new entity, Iron and Steel for Mines and Quarries, which is supposed to be listed on the EGX this month.<\/p>\n

PSA- The hot, dusty weather is set to continue again today in much of Egypt<\/strong>, with the sandy conditions lasting at least until tomorrow morning, according to a warning from<\/a> the national weather service. We\u2019re looking at a high this afternoon of 32\u00b0C, but the mercury could cool tomorrow to 22\u00b0C (with a chance of high winds) setting up a nice weekend, according to our favourite weather app.<\/p>\n

<\/a> *** CATCH UP QUICK<\/strong> with the top stories from yesterday\u2019s edition of EnterprisePM:<\/p>\n