{"id":561502,"date":"2021-04-11T03:54:26","date_gmt":"2021-04-11T03:54:26","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2021\/04\/11\/two-days-til-ramadan-what-isnt-happy-the-pandemic-is-easing-the-environment\/"},"modified":"2021-04-11T03:54:26","modified_gmt":"2021-04-11T03:54:26","slug":"two-days-til-ramadan-what-isnt-happy-the-pandemic-is-easing-the-environment","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2021\/04\/11\/two-days-til-ramadan-what-isnt-happy-the-pandemic-is-easing-the-environment\/","title":{"rendered":"Two days \u2018til Ramadan; What isn\u2019t happy the pandemic is easing? The environment."},"content":{"rendered":"<p><a class=\"content-anchor\" id=\"tldr-story-04\"><\/a> <strong>Good morning, wonderful people, and welcome to the first week of Ramadan. <\/strong>The holy month should start on Tuesday: Expect Dar Al Iftaa to make a formal announcement tomorrow evening, based on its sighting of the moon.<\/p>\n<p><strong>The EGX will move to its customary shortened Ramadan hours, which will see <\/strong><strong>trading begin at 10 am and end at 1:30 pm.<\/strong> Trading of unlisted securities on OTC orders market will take place on Mondays and Wednesdays from 11:30 am to 12 pm, while trading of unlisted securities on the OTC market will take place from 9:30 am to 1:30 pm.<\/p>\n<p><strong>The nation\u2019s banks will open at 9.30am and close at 1.30pm<\/strong> through the holy month, the central bank said in <a href=\"https:\/\/ent.news\/2021\/4\/Banking-opening-hours-Ramadan-2021.pdf\">a statement (pdf)<\/a> yesterday. Staff will need to be in branches 30 minutes before doors open to the public and stick around 30 minutes after.<\/p>\n<p><strong>We\u2019re still waiting for news about whether we\u2019ll be seeing new covid restrictions <\/strong>brought in to prevent a spike in cases during Ramadan. Government sources <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/3a6944c9-147e-4879-925f-c5ff4f1f6d49\">told local media<\/a> last week that authorities could move to close public places, ban prayer in the streets and reduce working hours at government facilities if cases continue to rise.<\/p>\n<p><strong>So, when do we eat? <\/strong>Maghreb prayers are at 6:21pm in the capital city on Tuesday. You\u2019ll have until 3:59am to finish sohour that night.<\/p>\n<p><strong>IT\u2019S A BIG WEEK FOR- Foreign affairs. <\/strong>The nation\u2019s diplomats look set to own the news agenda for much of this week. Khargeya and the Defense Ministry are pushing ahead with an aggressive bid to deepen ties with upstream nations as the wrestling match with Ethiopia over GERD reaches a new pitch. We have chapter and verse on that below in the news well and in Last Night\u2019s Talk Shows.<\/p>\n<p><strong>And it seems we\u2019re well on our way to mending ties with Turkey. <\/strong>Foreign Minister Sameh Shoukry and his Turkish counterpart, Mevlut Cavusoglu, had a call yesterday in which the two exchanged Ramadan greetings \u2014 their first direct contact. <a href=\"https:\/\/www.reuters.com\/article\/idUSKBN2BX0AO\">Reuters<\/a> quotes a statement by the Turkish Foreign Ministry as confirming the call, but offers no further details. Officials in Ankara told Turkish media in March to <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/fd9bd86b-542e-46d6-a545-108fa6ec37d9\">tone down their criticism of Egypt<\/a> in a bid to dial back tensions that date back to the overthrow of the Muslim Brotherhood in 2013, but the two countries as yet have not resumed official diplomatic communication.<\/p>\n<p><strong>***CATCH UP QUICK<\/strong> on the top stories from Thursday\u2019s edition of EnterprisePM:<\/p>\n<ul>\n<li><strong>Inflation <\/strong><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/91d91bf8-2519-46d6-a33e-b0495cc892c0\">ticked up slightly<\/a><\/strong><strong> in the run-up to Ramadan<\/strong>, supporting expectations the CBE will leave interest rates on hold later this month.<\/li>\n<li>The <strong>National Bank of Greece plans to <\/strong><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/72e8da57-bd67-43bc-af09-ca3b62637ed3\">close its branch network in Egypt<\/a><\/strong>, and has submitted a formal request to the Central Bank of Egypt.<\/li>\n<li>Payment gateway <strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/3e6ff686-8c64-4a78-b0d9-3377eba63ca5\">Paymob closes<\/a><\/strong><strong> USD 18.5 mn series A<\/strong> + Egypt was the <strong>third hottest MENA destination for VC funding<\/strong> in 1Q2021.<\/li>\n<\/ul>\n<p><strong>WHAT\u2019S HAPPENING TODAY-<\/strong><\/p>\n<p><strong>Expect the Grand Ethiopian Renaissance Dam to continue making headlines this week, <\/strong><strong>with Russian Foreign Minister Sergey Lavrov due in town tomorrow<\/strong> to discuss the latest developments on the stalled talks. Lavrov\u2019s planned trip comes after expectations that Russian President Vladimir Putin would visit Egypt sometime in March did not materialize. The latest round of ministerial negotiations between Egypt, Sudan, and Ethiopia over the dam <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/fed1a86a-7b61-41be-828c-d1a714e4de03\">last week<\/a> ended in yet another stalemate.<\/p>\n<p><strong>Budget week continues at the House:<\/strong> The House of Representatives will discuss in a plenary session the House Planning and Budgeting Committee\u2019s customary end-of-year report on the FY2019-2020 state budget, including a review of the closing balances of individual institutions, according to the House\u2019s schedule.<\/p>\n<p><strong>The 2021-2022 state budget <\/strong><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/a6b6f594-177a-428b-861a-f13060029d6e\">is still with the Senate<\/a><\/strong> after earning Cabinet sign-off last month, and will then be shipped to the House of Representatives for final approval.<\/p>\n<p><strong>The House will also discuss today a <\/strong><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/7cc2419e-b95a-4513-a27e-ed1db1ab9d0f\">USD 200 mn World Bank loan<\/a><\/strong><strong> to fight pollution<\/strong> and the USD 500k grant offered by the African Development Bank to provide emergency assistance to impoverished people struggling due to the pandemic, according to <a href=\"https:\/\/english.ahram.org.eg\/NewsContent\/1\/64\/408913\/Egypt\/Politics-\/Egypts-parliament-to-discuss-new-anticoronavirus-m.aspx\">the local press<\/a>.<\/p>\n<p><strong>Today is also the final day of the <\/strong><strong><a href=\"https:\/\/live.worldbank.org\/\">Spring Meetings<\/a><\/strong><strong> of the IMF and the World Bank Group<\/strong>, which have been held virtually.<\/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>Amendments to the VAT Act will be shipped back to the House Planning and Budgeting <\/strong><strong>Committee in a few weeks<\/strong> after public consultations on the amendments wrap up, committee undersecretary Mostafa Salem told us. The Finance Ministry has been sitting down with industry players, including representatives from Coca Cola, PepsiCo, and Nestle for their comments on the amendments, including applying the <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/976a0bd2-9def-4208-8eed-a9bcee2355be\">14% tax to the rent and purchase<\/a> of commercial and administrative properties, imposing VAT on crackers and some sweets, and <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/40999825-ce0a-4afc-be87-32ef07a345f7\">removing the tax<\/a> on imports of strategic commodities.<\/p>\n<p><strong>Among the other deadlines and events you need to have your eye on this month:<\/strong><\/p>\n<ul>\n<li><strong>EBRD President Odile Renaud-Basso could visit Egypt later this month<\/strong>, <a href=\"https:\/\/www.almasryalyoum.com\/news\/details\/2308519\">Al Masry<\/a><a href=\"https:\/\/www.almasryalyoum.com\/news\/details\/2308519\">Al Youm<\/a> reported this weekend following a meeting with Egypt\u2019s ambassador to the UK Tarek Adel. This would be her first official visit to Egypt since she was appointed to head the bank in November.<\/li>\n<li><strong>More information on the new construction licenses + building code will be made <\/strong><strong>public before by 15 April<\/strong> to explain the details of the new system that will hand out construction licenses.<\/li>\n<li><strong>The Sovereign Fund of Egypt will issue the conditions booklet for the contract to <\/strong><strong>develop <\/strong><strong>the Mogamma El Tahrir<\/strong> sometime this month.<\/li>\n<li><strong>\u201cSummer hours<\/strong><strong>\u201d will<\/strong> <strong><a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/1893821920796164\">come into effect<\/a><\/strong><strong> for retail stores and restaurants as of 17 <\/strong><strong>April.<\/strong> This means retail shops can close at 11 pm (instead of 10 pm during the winter), while cafes and restaurants can stay open until 1 am (instead of midnight currently). We have more details on the winter vs. summer hours <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/e3019f4c-6803-4c38-a95f-5dfdeaf7a35b\">here<\/a>.<\/li>\n<li>The Central Bank of Egypt will meet to discuss interest rates on<strong> Thursday, 29 April<\/strong>.<\/li>\n<\/ul>\n<p><strong>Check out our full calendar on the web<\/strong> for a comprehensive listing of upcoming news events, national holidays and news triggers.<\/p>\n<p><strong>MORNING MUST READ- <\/strong><\/p>\n<p><strong>Remember how the planet was \u201chealing\u201d when life ground to a halt last year? The <\/strong><strong>rebound is going to undo much of that.<\/strong> The economic bounceback from covid-19 could further damage the environment, with much of the planned growth and infrastructure megaprojects planned from the US to China expected to be powered by fossil fuels, <a href=\"https:\/\/www.bloomberg.com\/news\/newsletters\/2021-04-09\/roaring-back-from-covid-carries-climate-cost?sref=mmeFTDW1\">Bloomberg<\/a> reports.<\/p>\n<p><strong>\u201cThe reality is that with the global population desperate for a return to economic normality, the first casualty could be the environment,\u201d<\/strong> writes Karl Maier, with new roads and bridges in US President Joe Biden\u2019s American Jobs Plan, increased chip production in the US, and coal mining in China all expected to contribute to an increased carbon footprint, and \u201chaving it both ways isn\u2019t an option.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Good morning, wonderful people, and welcome to the first week of Ramadan. The holy month should start on Tuesday: Expect Dar Al Iftaa to make a formal announcement tomorrow evening, based on its sighting of the moon. The EGX will move to its customary shortened Ramadan hours, which will see trading begin at 10 am [&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":[68,72,274,1032,278,74],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-561502","post","type-post","status-publish","format-standard","hentry","category-what-were-tracking-today","tag-egx","tag-enterpriseam","tag-house-of-representatives","tag-ramadan","tag-state-budget","tag-what-were-tracking-today","wpautop","entry"],"acf":{"mongo_id":"e5297135-86a3-4933-a7ed-1fe62d878683","order":"0","is_powered_by":true,"story_type":"4","photo_url":"","photo_position":"above","related_issue":[561500],"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>Two days \u2018til Ramadan; What isn\u2019t happy the pandemic is easing? The environment. - 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\/04\/11\/two-days-til-ramadan-what-isnt-happy-the-pandemic-is-easing-the-environment\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Two days \u2018til Ramadan; What isn\u2019t happy the pandemic is easing? The environment.\" \/>\n<meta property=\"og:description\" content=\"Good morning, wonderful people, and welcome to the first week of Ramadan. The holy month should start on Tuesday: Expect Dar Al Iftaa to make a formal announcement tomorrow evening, based on its sighting of the moon. The EGX will move to its customary shortened Ramadan hours, which will see trading begin at 10 am [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2021\/04\/11\/two-days-til-ramadan-what-isnt-happy-the-pandemic-is-easing-the-environment\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2021-04-11T03:54:26+00:00\" \/>\n<meta name=\"author\" content=\"enterpriseam admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"enterpriseam admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"6 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2021\/04\/11\/two-days-til-ramadan-what-isnt-happy-the-pandemic-is-easing-the-environment\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2021\/04\/11\/two-days-til-ramadan-what-isnt-happy-the-pandemic-is-easing-the-environment\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"Two days \u2018til Ramadan; What isn\u2019t happy the pandemic is easing? 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The EGX is running shorter trading hours. The trading session will kicks off at 10:00 am, but closes at 1:30 pm. Tap or click\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":634298,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/01\/11\/egx-allows-otc-trading-of-subscription-rights-in-unlisted-companies\/","url_meta":{"origin":561502,"position":1},"title":"EGX allows OTC trading of subscription rights in unlisted companies","author":"enterpriseam admin","date":"11 January 2018","format":false,"excerpt":"The EGX is now allowing for subscription rights in capital increases for unlisted companies to be traded over-the-counter, bourse chairman Mohamed Farid said, according to Al Mal. This would allow unlisted companies to finance expansion without having to list on the market and expand their investor base. One very smart\u2026","rel":"","context":"In &quot;Speed Round&quot;","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":649959,"url":"https:\/\/enterpriseam.com\/egypt\/2017\/03\/13\/egx-issues-new-regulations-to-organize-transfer-of-unlisted-securities-ownership\/","url_meta":{"origin":561502,"position":2},"title":"EGX issues new regulations to organize transfer of unlisted securities\u2019 ownership","author":"enterpriseam admin","date":"13 March 2017","format":false,"excerpt":"The EGX has issued new regulations on the transfer of ownership of securities not listed on the stock exchange. The regulations outline the timeframe for traders to inform the EGX about over-the-counter (OTC) transactions and stipulates that brokerages keep all documents relating to OTC transactions for five years, according to\u2026","rel":"","context":"In &quot;Banking + Finance&quot;","block_context":{"text":"Banking + Finance","link":"https:\/\/enterpriseam.com\/egypt\/category\/banking-finance\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":628927,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/05\/17\/what-were-tracking-on-17-may-2018\/","url_meta":{"origin":561502,"position":3},"title":"What we\u2019re tracking on 17 May 2018","author":"enterpriseam admin","date":"17 May 2018","format":false,"excerpt":"Good morning, friends, and Ramadan kareem. We hope those of you observing the Holy Month are doing better without your morning dose of coffee than we are.Look for a daytime high of 36\u00b0C in Cairo on this first day of fasting, kicking off a heat wave that will see temps\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":628878,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/05\/16\/forget-about-your-desk-at-the-office-ramadan-is-tomorrow-folks\/","url_meta":{"origin":561502,"position":4},"title":"Forget about your desk at the office + Ramadan is tomorrow, folks","author":"enterpriseam admin","date":"16 May 2018","format":false,"excerpt":"Kiss your assigned seat goodbye: Private offices have already gone the way of the dodo bird. Next up: Your employer is taking away your desk, too, writes Sue Shellenbarger for the Wall Street Journal. \u201cEmployers are replacing traditional one-desk-per-employee setups with a smaller number of first-come, first-served desks, plus additional\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\/2018\/5\/2332.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":629195,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/05\/24\/629195\/","url_meta":{"origin":561502,"position":5},"title":"Your Ramadan rundown for today:\u2026","author":"enterpriseam admin","date":"24 May 2018","format":false,"excerpt":"Your Ramadan rundown for today: Bank hours run 09:30 am to 01:30 pm for customers and from 09:00 am to 02:00 pm for employees, CBE announced. The EGX is running shorter trading hours. The trading session kicks off at 10:00 am, but closes at 1:30 pm. 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