{"id":561860,"date":"2021-04-25T04:00:37","date_gmt":"2021-04-25T04:00:37","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2021\/04\/25\/thursday-off-for-sinai-liberation-day-wall-street-hates-the-biden-tax-plan\/"},"modified":"2021-04-25T04:00:37","modified_gmt":"2021-04-25T04:00:37","slug":"thursday-off-for-sinai-liberation-day-wall-street-hates-the-biden-tax-plan","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2021\/04\/25\/thursday-off-for-sinai-liberation-day-wall-street-hates-the-biden-tax-plan\/","title":{"rendered":"Thursday off for Sinai Liberation Day; Wall Street hates the Biden tax plan"},"content":{"rendered":"<p><strong>Good morning, wonderful people<\/strong>, and welcome to what we hope will be a nice, light workday for all of you. It was meant to be a holiday, so your calendars should all be reasonably clear, right? Also: It\u2019s day 13 of Ramadan, so for those of us observing, we\u2019re nearly at the half-way mark.<\/p>\n<p><strong>Thursday is a day off for the private sector<\/strong> in observance of Sinai Liberation Day, Manpower Minister Mohamed Saafan <a href=\"https:\/\/www.facebook.com\/permalink.php?story_fbid=1145527745871111&id=195780944179134\">confirmed<\/a> yesterday. EGX will be closed, according to a <a href=\"https:\/\/www.facebook.com\/EgyptianExchangeEGX\/posts\/1479179139083476\">statement<\/a>, and our friends in the banking industry will also be off. <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/c701f291-2fdc-40b0-960b-92bdc4d59b3a\">Cabinet said on Thursday<\/a> that today\u2019s holiday would be observed at the end of the week instead.<\/p>\n<p><strong>We still have no idea what\u2019s up with Coptic Easter or Sham El Nessim.<\/strong> Easter falls this year on 2 May. It\u2019s not a national holiday, but banks and the EGX have traditionally taken it as a day off. Sham El Nessim is the day after and is a national holiday. Neither the CBE nor the EGX has yet made an announcement about Easter, while Cabinet Spokesman Nader Saad told <a href=\"https:\/\/www.shorouknews.com\/news\/view.aspx?cdate=22042021&id=f2dba5bc-a8ad-4757-8553-7bb5d66e7bf0\">Al Shorouk<\/a> on Thursday that Cabinet hasn\u2019t yet decided what it\u2019s doing with Sham El Nessim.<\/p>\n<p><strong>IT\u2019S A BIG NEWS DAY: The tourism industry just got a huge boost as Moscow moves to <\/strong><strong>allow direct flights <\/strong>to Red Sea hotspots. It\u2019s just what the doctor ordered heading into the summer season. We have chapter and verse on this and much more in this morning\u2019s news well, below.<\/p>\n<p><strong>It\u2019s interest rate week:<\/strong> The Central Bank of Egypt was originally scheduled to meet to review rates this Thursday. <a href=\"https:\/\/bit.ly\/3dJG8yi\">Masrawy<\/a> reports that the meeting could now be moved to Wednesday, 28 April or pushed to Sunday, 2 May.<\/p>\n<p>What\u2019s the monetary policy committee going to do when it meets? <strong>All 14 analysts and <\/strong><strong>economists we spoke with are calling another hold<\/strong>, as we report in our customary poll, below.<\/p>\n<p><strong>***CATCH UP QUICK<\/strong> with the top stories from Thursday\u2019s edition of EnterprisePM:<\/p>\n<ul>\n<li><strong>Minapharm will <\/strong><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/f26e1432-d88a-4d80-a628-e03687889ed5\">manufacture Sputnik V<\/a><\/strong><strong> in Egypt.<\/strong> The news comes as a report suggests Egypt lags some frontier and emerging markets in vaccine rollout.<\/li>\n<li><strong>Banks <\/strong><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/c8e90d81-d066-495e-8a04-bb8af8c86a25\">can start issuing<\/a><\/strong><strong> deposit-backed electronic currencies<\/strong> under new CBE regs.<\/li>\n<li><strong>Love from the EBRD: <\/strong>Kom Ombo solar plant and green cities are getting <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/320d303f-9f12-4b87-b16f-4cbe5615b532\">USD 144 mn<\/a><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/320d303f-9f12-4b87-b16f-4cbe5615b532\">in EBRD funding<\/a>.<\/li>\n<\/ul>\n<p><strong>CORRECTION:<\/strong> We incorrectly stated that the EBRD\u2019s USD 114 mn financing for the Kom Ombo solar plant would increase the plant\u2019s capacity by 200 MW. The plant\u2019s total capacity is 200 MW. The story has since been updated on our website.<\/p>\n<hr class=\"grey-line\">\n<p><strong>** So, when do we eat?<\/strong> Maghrib prayers are at 6:28pm in the capital city today. You\u2019ll have until 3:44am to finish up sohour.<\/p>\n<p><strong>PSA- It\u2019s going to be hot today,<\/strong> with the mercury rising to 36\u00b0C this afternoon. It will cool off to 19\u00b0C overnight, according to the <a href=\"https:\/\/www.facebook.com\/ema.gov.eg\/photos\/a.1606698572698165\/4267024766665519\/\">national weather service<\/a>. We\u2019re in for nice weather Monday through Wednesday, with daytime highs of 28-33\u00b0C, before a five-day heat wave hits just in time for the weekend, according to our favourite weather app.<\/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>MARKET WATCH-<\/strong><\/p>\n<p><strong>US investors are up in arms about a Biden administration plan to double the top capital <\/strong><strong>gains tax rate for the wealthiest of Americans<\/strong>, with the <a href=\"https:\/\/www.ft.com\/content\/b4b054a7-79e3-4e72-93c4-e05cb99c9a50?shareType=nongift\">Financial Times<\/a> writing that Wall Street types believe the move \u201cwould probably reduce tax revenues over time and would discourage people from allocating money towards long-term investments.\u201d The move would hike the top end of the capital gains tax to 43.4%. \u201cHowls of protest echoed from Wall Street to Silicon Valley, as financial lobbyists geared up to influence legislation,\u201d the salmon-colored paper notes.<\/p>\n<p><strong>The Biden tax plan contributed to a day to forget for cryptocurrencies on Friday<\/strong>, which saw more than USD 200 bn erased from the market during a large wave of selling, <a href=\"https:\/\/www.cnbc.com\/2021\/04\/23\/bitcoin-btc-price-plunges-as-260-billion-wiped-off-cryptocurrencies.html\">CNBC<\/a> reports. Bitcoin fell 7.3% to fall below the USD 50k handle for the first time since Match, while Ether \u2014 the second-largest cryptocurrency \u2014 fell 8%.<\/p>\n<p><strong>CIRCLE YOUR CALENDAR-<\/strong><\/p>\n<p><strong>Finance Minister Mohamed Maait is addressing AmCham\u2019s Pre-Annual General Meeting<\/strong><strong> on Tuesday<\/strong> to discuss Egypt\u2019s economic reform beyond the pandemic. The event will be held virtually at 2pm CLT. Members and non-members alike are welcome to attend. <a href=\"https:\/\/www.amcham.org.eg\/events-activities\/events\/online-registration\/1363\">Register here<\/a>.<\/p>\n<p><strong>Transport Minister Kamel El Wazir will address the House of Representatives on<\/strong> <strong>Tuesday<\/strong> to discuss his ministry\u2019s plan to overhaul the country\u2019s transportation system, according to the House agenda. El Wazir\u2019s planned appearance in parliament comes after multiple calls from MPs to question the minister or otherwise hold him accountable for the recent streak of railway accidents, including the <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/ab9ca9b1-c618-437a-9adc-f28c40323304\">Qalyubia train crash<\/a>, which left <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/5471cce4-ac14-4359-9c84-7d2fe14fb18a\">23 dead<\/a> and another 139 injured.<\/p>\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","protected":false},"excerpt":{"rendered":"<p>Good morning, wonderful people, and welcome to what we hope will be a nice, light workday for all of you. It was meant to be a holiday, so your calendars should all be reasonably clear, right? Also: It\u2019s day 13 of Ramadan, so for those of us observing, we\u2019re nearly at the half-way mark. Thursday [&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":[72,74],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-561860","post","type-post","status-publish","format-standard","hentry","category-what-were-tracking-today","tag-enterpriseam","tag-what-were-tracking-today","wpautop","entry"],"acf":{"mongo_id":"1bba05b7-dca3-4be6-af51-b655c9fe758f","order":"0","is_powered_by":true,"story_type":"4","photo_url":"","photo_position":"above","related_issue":[561858],"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>Thursday off for Sinai Liberation Day; Wall Street hates the Biden tax plan - 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\/25\/thursday-off-for-sinai-liberation-day-wall-street-hates-the-biden-tax-plan\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Thursday off for Sinai Liberation Day; Wall Street hates the Biden tax plan\" \/>\n<meta property=\"og:description\" content=\"Good morning, wonderful people, and welcome to what we hope will be a nice, light workday for all of you. 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Maghreb will be at 6:08pm CLT.APRIL 16 April (Sunday): Coptic Easter17 April (Monday): Sham El Nessim. 21-26 April (Friday-Wednesday): LaLiga Egypt Football Camp, Xanadu Hotel, Makadi Bay, Hurghada. 22 April (Saturday): Eid El Fitr (TBC).25 April (Tuesday): Sinai Liberation Day.27 April\u2026","rel":"","context":"In &quot;THE ENTERPRISE ENTERTAINMENT CALENDAR&quot;","block_context":{"text":"THE ENTERPRISE ENTERTAINMENT CALENDAR","link":"https:\/\/enterpriseam.com\/egypt\/category\/the-enterprise-entertainment-calendar\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":583991,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/03\/22\/583991\/","url_meta":{"origin":561860,"position":1},"title":"MARCH 23 March (Thursday): First\u2026","author":"enterpriseam admin","date":"22 March 2023","format":false,"excerpt":"MARCH 23 March (Thursday): First day of Ramadan (TBC). Maghreb will be at 6:08pm CLT.APRIL 16 April (Sunday): Coptic Easter17 April (Monday): Sham El Nessim. 21-26 April (Friday-Wednesday): LaLiga Egypt Football Camp, Xanadu Hotel, Makadi Bay, Hurghada. 22 April (Saturday): Eid El Fitr (TBC).25 April (Tuesday): Sinai Liberation Day.27 April\u2026","rel":"","context":"In &quot;THE ENTERPRISE ENTERTAINMENT CALENDAR&quot;","block_context":{"text":"THE ENTERPRISE ENTERTAINMENT CALENDAR","link":"https:\/\/enterpriseam.com\/egypt\/category\/the-enterprise-entertainment-calendar\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":584111,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/03\/26\/584111\/","url_meta":{"origin":561860,"position":2},"title":"MARCH 23 March (Thursday): First\u2026","author":"enterpriseam admin","date":"26 March 2023","format":false,"excerpt":"MARCH 23 March (Thursday): First day of Ramadan (TBC). Maghreb will be at 6:08pm CLT.APRIL 16 April (Sunday): Coptic Easter17 April (Monday): Sham El Nessim. 21-26 April (Friday-Wednesday): LaLiga Egypt Football Camp, Xanadu Hotel, Makadi Bay, Hurghada. 22 April (Saturday): Eid El Fitr (TBC).25 April (Tuesday): Sinai Liberation Day.27 April\u2026","rel":"","context":"In &quot;THE ENTERPRISE ENTERTAINMENT CALENDAR&quot;","block_context":{"text":"THE ENTERPRISE ENTERTAINMENT CALENDAR","link":"https:\/\/enterpriseam.com\/egypt\/category\/the-enterprise-entertainment-calendar\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":568284,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/12\/24\/what-were-tracking-on-24-december-2020\/","url_meta":{"origin":561860,"position":3},"title":"What we\u2019re tracking on 24 December 2020","author":"enterpriseam admin","date":"24 December 2020","format":false,"excerpt":"Good morning, everyone, and a very Merry Christmas to all those who are observing tomorrow. We made it through another week together \u2014 and have a pleasantly quiet issue for you this Christmas Eve morning.Last orders on the NYSE and Nasdaq will be at 1pm Eastern today while the closing\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":584196,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/03\/27\/584196\/","url_meta":{"origin":561860,"position":4},"title":"APRIL 16 April (Sunday): Coptic\u2026","author":"enterpriseam admin","date":"27 March 2023","format":false,"excerpt":"APRIL 16 April (Sunday): Coptic Easter17 April (Monday): Sham El Nessim. 21-26 April (Friday-Wednesday): LaLiga Egypt Football Camp, Xanadu Hotel, Makadi Bay, Hurghada. 22 April (Saturday): Eid El Fitr (TBC).25 April (Tuesday): Sinai Liberation Day.27 April (Thursday): National holiday in observance of Sinai Liberation Day (TBC).MAY 1 May (Monday): Labor\u2026","rel":"","context":"In &quot;THE ENTERPRISE ENTERTAINMENT CALENDAR&quot;","block_context":{"text":"THE ENTERPRISE ENTERTAINMENT CALENDAR","link":"https:\/\/enterpriseam.com\/egypt\/category\/the-enterprise-entertainment-calendar\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":584281,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/03\/28\/584281\/","url_meta":{"origin":561860,"position":5},"title":"APRIL 16 April (Sunday): Coptic\u2026","author":"enterpriseam admin","date":"28 March 2023","format":false,"excerpt":"APRIL 16 April (Sunday): Coptic Easter17 April (Monday): Sham El Nessim. 21-26 April (Friday-Wednesday): LaLiga Egypt Football Camp, Xanadu Hotel, Makadi Bay, Hurghada. 22 April (Saturday): Eid El Fitr (TBC).25 April (Tuesday): Sinai Liberation Day.27 April (Thursday): National holiday in observance of Sinai Liberation Day (TBC).MAY 1 May (Monday): Labor\u2026","rel":"","context":"In &quot;THE ENTERPRISE ENTERTAINMENT CALENDAR&quot;","block_context":{"text":"THE ENTERPRISE ENTERTAINMENT CALENDAR","link":"https:\/\/enterpriseam.com\/egypt\/category\/the-enterprise-entertainment-calendar\/"},"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\/561860","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=561860"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/561860\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/561858"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=561860"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=561860"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=561860"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=561860"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=561860"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}