{"id":565179,"date":"2021-03-24T13:49:10","date_gmt":"2021-03-24T13:49:10","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2021\/03\/24\/what-were-tracking-on-24-march-2021-2\/"},"modified":"2021-03-24T13:49:10","modified_gmt":"2021-03-24T13:49:10","slug":"what-were-tracking-on-24-march-2021-2","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2021\/03\/24\/what-were-tracking-on-24-march-2021-2\/","title":{"rendered":"What we\u2019re tracking on 24 March 2021"},"content":{"rendered":"

Good afternoon, friends. We\u2019re long on digitalization and financial inclusion this <\/strong>afternoon<\/strong>, but the big story of the day is the ongoing operation to re-float the MV Ever Given, which ran aground and is blocking the Suez Canal. The ship\u2019s foundering is hitting oil prices and is all over the front pages of the global business press. We have the full story in this afternoon\u2019s Speed Round.<\/p>\n

We\u2019re stuck with this sand storm for much of what remains of today<\/strong>, but the forecast suggests tomorrow will be cooler and foggy<\/a> in the Greater Cairo Area, while the North Coast has winds and the possibility of more rain to which to look forward.<\/p>\n

MARKET WATCH- The EGX rose 2.2% at today\u2019s close<\/strong>, snapping a losing streak that saw it erase all of the gains it has posed since 1 January.<\/p>\n

THE BIG STORY ABROAD? <\/strong>No single story leads the world\u2019s front pages, but every major business outlet has the MV Ever Given somewhere in the first screen. The Financial Times<\/a>, meanwhile, says that a spat over sanctions threatens a trade agreement between China and the European Union, while the Wall Street Journal<\/a> is giving ink to Intel\u2019s USD 20 bn turnaround plan, which we discuss below in For Your Commute.<\/p>\n

Meanwhile: It\u2019s more political gridlock in our neighbors to the east <\/strong>after Israeli voters failed to give either Prime Minister Benjamin Netanyahu or his challengers a majority in the Knesset, reports The Associated Press<\/a>. It\u2019s the fourth election to deliver a deadlock in the past two years \u2014 and could set up an unprecedented fifth election later this year.<\/p>\n

Europe isn\u2019t in the mood to be generous in sharing vaccines with Britain <\/strong>or other countries with \u201chigh inoculation rates,\u201d Reuters reports<\/a>. The move will include restricting exports by companies that have failed to meet their supply commitments, potentially including AstraZeneca and Johnson & Johnson, EU officials said.<\/p>\n

CATCH UP QUICK <\/strong>on the top stories from this morning\u2019s edition of EnterpriseAM:<\/p>\n