{"id":564018,"date":"2021-08-03T13:46:19","date_gmt":"2021-08-03T13:46:19","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2021\/08\/03\/tonight-its-pmi-day-subsidized-baladi-bread-might-get-a-price-raise-also-egypt-has-more-medals-in-sight\/"},"modified":"2021-08-03T13:46:19","modified_gmt":"2021-08-03T13:46:19","slug":"tonight-its-pmi-day-subsidized-baladi-bread-might-get-a-price-raise-also-egypt-has-more-medals-in-sight","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2021\/08\/03\/tonight-its-pmi-day-subsidized-baladi-bread-might-get-a-price-raise-also-egypt-has-more-medals-in-sight\/","title":{"rendered":"TONIGHT: It\u2019s PMI day + Subsidized baladi bread might get a price raise. ALSO: Egypt has more medals in sight."},"content":{"rendered":"

Good afternoon, nice people \u2014 who hope Tuesday has been kind to you<\/strong>, heat wave and all. The heat and humidity are set to continue for the indefinite future, with temperatures at 40\u00b0C or above for most of the next two weeks.<\/p>\n

THE BIG STORY THIS AFTERNOON: Egyptian companies are adding jobs for the first <\/strong>time in some 20 months<\/strong>, according to the IHS Markit purchasing managers\u2019 index (PMI) for Egypt. Still, the headline PMI declined 0.8 points m-o-m to 49.1 in July, heading away from the 50.0 mark that separates growth from contraction. Sluggish domestic demand led to a dip in output and new orders that saw the index register its seventh contraction in eight months, after a strong June raised hopes of continued recovery. We have chapter and verse in this afternoon\u2019s Speed Round, below.<\/p>\n

<\/a> ALSO, FROM THE DEPT. OF SMART POLICY: President Abdel Fattah El Sisi grabbed<\/strong> firmly onto <\/strong>what pundits had previously regarded as the \u201cthird rail\u201d of Egyptian politics<\/strong>, saying that it is time to increase the price of subsidized bread. Subsidized baladi bread has sold for 5 piasters a piece for decades now. El Sisi also discussed vaccination targets and childhood obesity in the speech at the opening of a state-owned complex that will help produce school meals for some 13 mn children nationwide. We\u2019ll have full coverage of the subsidy story in tomorrow\u2019s EnterpriseAM. You can watch El Sisi\u2019s <\/strong>full address here<\/a><\/strong> (runtime: 16:36).<\/strong><\/p>\n

HAPPENING NOW-<\/strong> It\u2019s day two of the Africa Food Manufacturing<\/a> exhibition at the Egypt International Exhibition Center. The event wraps up tomorrow.<\/p>\n

** CATCH UP QUICK on the top stories from today\u2019s EnterpriseAM:<\/strong><\/p>\n