{"id":567765,"date":"2020-12-07T03:49:25","date_gmt":"2020-12-07T03:49:25","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2020\/12\/07\/what-were-tracking-on-7-december-2020\/"},"modified":"2020-12-07T03:49:25","modified_gmt":"2020-12-07T03:49:25","slug":"what-were-tracking-on-7-december-2020","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2020\/12\/07\/what-were-tracking-on-7-december-2020\/","title":{"rendered":"What we\u2019re tracking on 7 December 2020"},"content":{"rendered":"

Good morning, friends. <\/strong>It\u2019s an oddly quiet Monday on the global front \u2014 and a busy newsday here at home \u2014 so let\u2019s jump right in:<\/p>\n

WHAT\u2019S HAPPENING TODAY- President Abdel Fattah El Sisi is meeting today with<\/strong> France\u2019s Emmanuel Macron<\/strong> in Paris, where El Sisi landed yesterday for a two-day visit.<\/p>\n

The Coptic C<\/strong>hurch has suspended masses <\/strong>and other church services including funerals in Cairo and Alexandria for a month starting today due to rising covid-19 cases, it said in a statement<\/a>. We have more in Last Night\u2019s Talk Shows, below.<\/p>\n

Time is running out for EGX-listed companies without a woman on their BoD<\/strong>,<\/strong> market regulator warns<\/strong>:<\/strong> Companies listed on Egypt\u2019s bourse are fast approaching the 31 December deadline to comply with a regulatory decision<\/a> to have at least one woman sitting on their board of directors, the Financial Regulatory Authority reiterated in a statement (pdf)<\/a>.<\/p>\n

By our math, just under half of the EGX30\u2019s constituents <\/strong>have no women on their boards<\/a><\/strong>.<\/strong> Egyptian businesses are lagging behind the rest of the world when it comes to gender diversity in the boardroom, two recent studies found (here<\/a> and here<\/a>). Nasdaq-listed companies could also face<\/a> the same requirements under a new policy proposal, while Germany already imposed the one-woman quota for listed companies\u2019 BoDs last month.<\/p>\n

The dispute between real estate developers and the Finance Ministry over the <\/strong>imposition of VAT on non-residential properties could be resolved this month.<\/strong> Developers have been less than pleased by the ministry\u2019s plans to charge 14% VAT on the rent and sale of non-residential properties, and have been trying to persuade it to scrap the plans entirely<\/a>. But the Federation of Egyptian Industries\u2019 real estate division can broker a compromise by agreeing to an effective 1.4% VAT rate, the local press<\/a> reports.<\/p>\n

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CIRCLE YOUR CALENDAR-<\/p>\n

The Egyptian-American Enterprise Fund is hosting a webinar on the future of Egypt\u2019s <\/strong>private sector<\/strong> at 11am EST (6pm CLT) on Tuesday, 8 December. Speakers include our friends Ashraf Sabry (Fawry) and Magda Habib (Dawi Clinics). You can register for the event here<\/a> and check out the flyer here (pdf)<\/a>. Note the time change from yesterday\u2019s issue, please, folks.<\/p>\n

Other key dates for your diary this month:<\/p>\n