{"id":562088,"date":"2021-05-06T04:07:34","date_gmt":"2021-05-06T04:07:34","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2021\/05\/06\/this-morning-were-getting-a-five-day-eid-break-biden-wants-covid-vaccine-patents-suspended-its-pmi-day\/"},"modified":"2021-05-06T04:07:34","modified_gmt":"2021-05-06T04:07:34","slug":"this-morning-were-getting-a-five-day-eid-break-biden-wants-covid-vaccine-patents-suspended-its-pmi-day","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2021\/05\/06\/this-morning-were-getting-a-five-day-eid-break-biden-wants-covid-vaccine-patents-suspended-its-pmi-day\/","title":{"rendered":"THIS MORNING: We\u2019re getting a five-day Eid break + Biden wants covid vaccine patents suspended + it\u2019s PMI day"},"content":{"rendered":"<p><strong>Well, wonderful people, we\u2019ve nearly made it through another workweek together. <\/strong>Just a few hours left.<\/p>\n<p><strong>THE BIG STORY here at home: We\u2019re getting a five-day Eid break. <\/strong>Also, something about new restrictions. But did we mention the five-day break for Eid El-Fitr? The vacation begins on Wednesday, 12 May (likely to be the last day of Ramadan) and we\u2019re due back at our desks on Monday, 17 May. We have the full rundown in this morning\u2019s news well, below.<\/p>\n<p><a class=\"content-anchor\" id=\"tldr-story-07\"><\/a> <strong>THE BIG STORY ABROAD on this final day of the workweek?<\/strong> There\u2019s no contest: <strong>The B<\/strong><strong>iden administration is backing plans to suspend patent protections for covid vaccines<\/strong> for the duration of the pandemic. The story leads front pages from the <a href=\"https:\/\/www.ft.com\/content\/eca86f43-7127-4213-948d-3cc8d652805e\">Financial Times<\/a> and <a href=\"https:\/\/www.washingtonpost.com\/health\/2021\/05\/05\/biden-waives-vaccine-patents\/\">Washington Post<\/a> to the <a href=\"https:\/\/www.wsj.com\/articles\/u-s-backs-waiver-of-intellectual-property-protection-for-covid-19-vaccines-11620243518?mod=hp_lead_pos1\">Wall Street Journal<\/a> and <a href=\"https:\/\/www.reuters.com\/business\/healthcare-pharmaceuticals\/biden-says-plans-back-wto-waiver-vaccines-2021-05-05\/\">Reuters<\/a>, by way of everything else in between. The hope is that doing so will let companies in countries including Egypt make vaccines at prices affordable to frontier emerging market countries \u2014 and increase supply in doing so.<\/p>\n<p><strong>FROM THE DUMPSTER FIRE that is our Twitter feed:<\/strong><\/p>\n<ul>\n<li><strong>An <\/strong><strong><a href=\"https:\/\/twitter.com\/newscientist\/status\/1389871844463980546?s=20\">out-of-control, 21-ton chunk of a Chinese rocket<\/a><\/strong><strong> will crash to earth this <\/strong><strong>weekend. <\/strong>The \u201cuncontrolled entry\u201d means it will be just about impossible for scientists to say where it will land until just before re-entry \u2014 and <strong><a href=\"https:\/\/www.elwatannews.com\/news\/details\/5477877\">it\u2019s already passed over Egypt twice<\/a><\/strong>, according to local officials, crossing between Sohag and Qena. The <a href=\"https:\/\/www.newscientist.com\/article\/2276526-chinese-rocket-is-hurtling-back-to-earth-after-space-station-launch\/?utm_medium=social&utm_campaign=echobox&utm_source=Twitter#Echobox=1620205710\">New Scientist<\/a> has more.<\/li>\n<li><strong>Ashraf Al Saad<\/strong> (yes, <em>that <\/em>Ashraf Al Saad) <strong>is back in Egypt<\/strong>, complete with a <a href=\"https:\/\/twitter.com\/ashraaf_alsaad\/status\/1389938926211710986?s=12\">smarmy<\/a><a href=\"https:\/\/twitter.com\/ashraaf_alsaad\/status\/1389938926211710986?s=12\">photo of himself in business class<\/a> on an EgyptAir flight. He was promptly detained at the airport.<\/li>\n<li><strong>Two Israeli soldiers had a <\/strong><strong><a href=\"https:\/\/twitter.com\/AviMayer\/status\/1389624884008038401?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1389624884008038401%7Ctwgr%5E%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Fwww.jpost.com%2Fisrael-news%2Fwho-won-watch-dance-off-between-israeli-and-egyptian-soldiers-on-border-667214\">cross-border dance-off<\/a><\/strong><strong> with two Egyptian troops<\/strong> in Sinai. The <a href=\"https:\/\/www.jpost.com\/israel-news\/who-won-watch-dance-off-between-israeli-and-egyptian-soldiers-on-border-667214\">Jerusalem Post<\/a> is all over it.<\/li>\n<\/ul>\n<p><strong>SIGN OF THE TIMES #1- Goldman Sachs <\/strong><strong><a href=\"https:\/\/www.ft.com\/content\/e515613a-32a2-4692-ad91-0b9e53c577a9\">recalling its US and UK bankers<\/a><\/strong><strong> to the office<\/strong> in June, joining JPMorgan, where boss Jamie Dimon has made clear he really doesn\u2019t care if you don\u2019t like your commute, saying, \u201c<a href=\"https:\/\/www.cnbc.com\/2021\/05\/04\/jamie-dimon-fed-up-with-zoom-calls-and-remote-work-says-commuting-to-offices-will-make-a-comeback.html\">I\u2019m about to cancel all my Zoom meetings. I\u2019m done with it.<\/a>\u201d<\/p>\n<p><strong>WHAT\u2019S HAPPENING TODAY-<\/strong><\/p>\n<p><strong>It\u2019s PMI day:<\/strong> The PMI reading for April will be out this morning at 6:15 am CLT and <a href=\"https:\/\/www.markiteconomics.com\/Public\/Release\/PressReleases?language=en\">you\u2019ll find it<\/a><a href=\"https:\/\/www.markiteconomics.com\/Public\/Release\/PressReleases?language=en\">here<\/a>. Non-oil private sector conditions worsened for the fourth consecutive month in March, with the gauge <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/8faed8bc-23ab-4b8c-b5c1-dcfdd52aa20b\">dropping to 48<\/a> from 49.3 the month before, but optimism reached new highs as the vaccine rollout continues to pick up steam.<\/p>\n<p><strong>A first round of reconciliation talks between Egypt and Turkey will wrap up later today:<\/strong> A Turkish delegation led by Ankara\u2019s Deputy Foreign Minister Sedat Onal arrived in Cairo late Tuesday for two days of talks aimed at finally ending years of tensions between the two regional powers.<\/p>\n<p><strong>** CATCH UP QUICK<\/strong> with the top stories from yesterday\u2019s edition of EnterprisePM:<\/p>\n<ul>\n<li><strong>Hold off booking that Eid beach break:<\/strong> <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/a7cb40a2-315a-482b-a56e-9a95c6788e1a\">We\u2019re heading back into lockdown<\/a> (sort of).<\/li>\n<li><strong>IPO Watch:<\/strong> The EGX <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/e27b7654-8887-4ccb-8dbd-d8ece6d38455\">approved IDH\u2019s application for a dual listing<\/a>. Now we\u2019re just waiting for the FRA to do the same.<\/li>\n<li><strong>Making it rain:<\/strong> Egyptian logistics player Flextock just broke a regional record with <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/a5e87a37-7b02-44f7-8899-77ee073ccfb3\">a USD 3.25 mn pre-seed funding round<\/a>.<\/li>\n<\/ul>\n<p><strong>**So, when do we eat?<\/strong> We sit down for iftar at 6:36pm this evening, and will have until 3:30am to wrap up our sohour.<\/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>Galaxy Digital is acquiring crypto wallets provider BitGo in a USD 1.2 bn transaction <\/strong>that marks the first acquisition worth north of USD 1 bn in the burgeoning crypto industry, reports the <a href=\"https:\/\/www.wsj.com\/articles\/galaxy-digital-to-buy-bitgo-in-crypto-sectors-first-1-billion-deal-11620212281?mod=hp_lead_pos7\">Wall Street Journal<\/a>. An acquisition will give Galaxy, a BTC-focused financial services firm, over USD 40 bn in assets under custody and create a combined entity offering a wide variety of services from trading, investment banking, and prime lending to crypto mining operations.<\/p>\n<p><strong>Begad, it\u2019s not a bubble #1: Ether has now rallied a whopping 1,500% in the past year<\/strong>, hitting a new peak of USD 3.45k earlier this week, according to <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2021-05-04\/ether-s-1-500-jump-is-just-the-start-for-the-crypto-faithful?sref=mmeFTDW1\">Bloomberg<\/a>. Crypto enthusiasts see a bright future for the second-largest cryptocurrency, which uses the Ethereum blockchain, with some penciling in a USD 5-10k price tag for the token by early next year and arguing that it is bound to follow in Bitcoin\u2019s footsteps. Separately, <strong>Dogecoin<\/strong> \u2014 a cryptocurrency whose entire purpose when launched in 2013 was to ridicule the crypto frenzy at the time, <strong>has become the fourth-largest token after soaring yesterday to an all-time high<\/strong> that brought its cumulative market value to over USD 85 bn, <a href=\"https:\/\/www.reuters.com\/article\/crypto-currency-dogecoin-idUSL4N2MS2BR\">Reuters<\/a> reported. The cryptocurrency was worth nearly USD 70 bn just <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/0488cd83-9e05-4edd-9284-ee32c31bf4f4\">one day earlier<\/a> \u2014 and about USD 7 bn in February.<\/p>\n<p><strong>Really, not a bubble: Hundreds of US banks will soon be<\/strong><strong> permitting BTC exchange<\/strong> through their customers\u2019 existing accounts, <a href=\"https:\/\/www.cnbc.com\/2021\/05\/05\/bitcoin-is-coming-to-hundreds-of-us-banks-says-crypto-firm-nydig-.html\">CNBC<\/a> reports. The move by smaller institutions could spell the beginning of even broader adoption as larger institutions come under pressure to offer similar services, optimists say. For now, customers can expect to soon be getting things like BTC rewards debit cards and savings accounts that pay interest in BTC. It\u2019s not the End Times, right?<\/p>\n<p><strong>SIGN OF THE TIMES #2- You can now bid on a trip to space:<\/strong> Jeff Bezos-backed space exploration company Blue Origin is offering civilians the chance to fly beyond the earth\u2019s atmosphere for the first time on 20 July, launching an online auction for a seat aboard its commercial space shuttle the New Shepard, the company said in a <a href=\"https:\/\/www.blueorigin.com\/news\/bid-for-the-very-first-seat-on-new-shepard\">statement<\/a>.<\/p>\n<p><strong>CIRCLE YOUR CALENDAR-<\/strong><\/p>\n<p><strong>Inflation:<\/strong> April inflation figures will be out next week.<\/p>\n<p><strong>The nation will get a five-day holiday in observance of Eid El Fitr from Wednesday, 12 <\/strong><strong>May<\/strong> to Sunday, 16 May.<\/p>\n<p><strong>Further afield, the IMF will conduct on 1 June a second review<\/strong> of targets set under the USD 5.2 bn standby loan approved in June 2020.<\/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>Well, wonderful people, we\u2019ve nearly made it through another workweek together. Just a few hours left. THE BIG STORY here at home: We\u2019re getting a five-day Eid break. Also, something about new restrictions. But did we mention the five-day break for Eid El-Fitr? The vacation begins on Wednesday, 12 May (likely to be the last [&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":[3385,168,72,670,185,127,671,218,74],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-562088","post","type-post","status-publish","format-standard","hentry","category-what-were-tracking-today","tag-blue-origin","tag-diplomacy","tag-enterpriseam","tag-jeff-bezos","tag-pmi","tag-politics","tag-space","tag-turkey","tag-what-were-tracking-today","wpautop","entry"],"acf":{"mongo_id":"b7bd43ee-df3c-4a85-a490-a8d278d0b169","order":"0","is_powered_by":true,"story_type":"4","photo_url":"","photo_position":"above","related_issue":[562086],"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>THIS MORNING: We\u2019re getting a five-day Eid break + Biden wants covid vaccine patents suspended + it\u2019s PMI day - 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\/05\/06\/this-morning-were-getting-a-five-day-eid-break-biden-wants-covid-vaccine-patents-suspended-its-pmi-day\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"THIS MORNING: We\u2019re getting a five-day Eid break + Biden wants covid vaccine patents suspended + it\u2019s PMI day\" \/>\n<meta property=\"og:description\" content=\"Well, wonderful people, we\u2019ve nearly made it through another workweek together. 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Just a few hours left. THE BIG STORY here at home: We\u2019re getting a five-day Eid break. Also, something about new restrictions. But did we mention the five-day break for Eid El-Fitr? 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We\u2019re kicking off the first day of the month with news that the decline in oil and gas production is set to stabilize in two months, according to Oil Minister Karim Badawi, fresh entrants to the privatization pipeline for the next fiscal year, and more.PSA-WEATHER- It\u2019s another\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\/2025\/1\/542.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":562122,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/05\/09\/this-morning-welcome-to-efg-hermes-hotel-restaurants-beaches-will-still-be-open-this-eid-holiday\/","url_meta":{"origin":562088,"position":1},"title":"THIS MORNING: Welcome to EFG Hermes + hotel restaurants, beaches will still be open this Eid holiday","author":"enterpriseam admin","date":"9 May 2021","format":false,"excerpt":"Good morning, everyone, and welcome to another abridged workweek. We now have three days of work and, for those who observe, four days of fasting ahead of us and then we can unplug before a madcap six-week dash to the start of summer. The nation is getting a five-day holiday\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":562011,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/05\/04\/this-morning-a-top-us-official-starts-a-regional-gerd-tour-a-six-day-heat-wave-starts-its-deadline-day-for-income-and-wages-taxes\/","url_meta":{"origin":562088,"position":2},"title":"THIS MORNING: A top US official starts a regional GERD tour, a six-day heat wave starts + it\u2019s deadline day for income and wages taxes","author":"enterpriseam admin","date":"4 May 2021","format":false,"excerpt":"Good morning, wonderful people, and welcome to a very short workweek. We hope you all had a relaxing long weekend with family and (socially distanced) friends.We\u2019re just a little over a week away from our next holiday, as Eid El Fitr looks likely to begin next Thursday, 13 May and\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":543482,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/02\/03\/this-morning-match-day-interest-rate-day-pmi-day-all-rolled-into-one\/","url_meta":{"origin":562088,"position":3},"title":"THIS MORNING: Match day + interest rate day + PMI day, all rolled into one","author":"enterpriseam admin","date":"3 February 2022","format":false,"excerpt":"Well, friends, we\u2019ve once again made it through another workweek together, and our reward is another flood of news. THE BIG STORY THIS MORNING here at home? It\u2019s got to be IPOs, where Macro now looks set to pull the trigger next week and senior government officials continue to talk\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":551670,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/07\/06\/tonight-pmi-hits-new-low-game-over-for-boris-johnson-el-sisi-inaugurates-projects-new-green-investments-from-the-uae-after-eid\/","url_meta":{"origin":562088,"position":4},"title":"TONIGHT: PMI hits new low + Game over for Boris Johnson? El Sisi inaugurates projects. New green investments from the UAE after Eid.","author":"enterpriseam admin","date":"6 July 2022","format":false,"excerpt":"One more working day left until the Eid break, ladies and gentlemen. We can imagine how productivity is going to look like tomorrow.Late to the party, but always welcome: The EGX (pdf) joined the central bank (pdf) and the Manpower Ministry in a week-long observance of Eid Al Adha. Private\u2026","rel":"","context":"In &quot;WHAT WE\u2019RE TRACKING TONIGHT&quot;","block_context":{"text":"WHAT WE\u2019RE TRACKING TONIGHT","link":"https:\/\/enterpriseam.com\/egypt\/category\/what-were-tracking-tonight\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":589074,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/06\/21\/public-sector-is-getting-six-days-off-for-eid-imfs-georgieva-speaks-on-our-reform-agenda\/","url_meta":{"origin":562088,"position":5},"title":"Public sector is getting six days off for Eid + IMF\u2019s Georgieva speaks on our reform agenda","author":"enterpriseam admin","date":"21 June 2023","format":false,"excerpt":"PLUS: Today marks the official start of summer","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\/2023\/6\/1083.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/562088","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=562088"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/562088\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/562086"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=562088"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=562088"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=562088"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=562088"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=562088"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}