{"id":568366,"date":"2020-12-28T03:57:21","date_gmt":"2020-12-28T03:57:21","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2020\/12\/28\/what-were-tracking-on-28-december-2020\/"},"modified":"2020-12-28T03:57:21","modified_gmt":"2020-12-28T03:57:21","slug":"what-were-tracking-on-28-december-2020","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2020\/12\/28\/what-were-tracking-on-28-december-2020\/","title":{"rendered":"What we\u2019re tracking on 28 December 2020"},"content":{"rendered":"

It\u2019s t-minus four days until 2021 and New Year-itis is in full effect <\/strong>if the unprecedented volume of out-of-office replies we\u2019re receiving after we dispatch each morning\u2019s edition is anything to go by.<\/p>\n

The big news at home this morning: The merger of two of the nation\u2019s largest healthcare <\/strong>players <\/strong>\u2014 EGX-listed and Actis-backed Cleopatra Hospitals Group and privately-held Alameda Healthcare Group. We have the details in an epic M&A Watch, below.<\/p>\n

Also: The Madbouly government is stepping up restrictions to try to tamp down the <\/strong>second <\/strong>wave <\/strong>of covid-19 and is in advanced talks to both secure stocks of read-made vaccine and the right to manufacture at least one domestically. We have the rundown in this morning's Covid Watch, below.<\/p>\n

We\u2019re one step closer to a post-Brexit trade agreement with the UK: <\/strong>President Abdel Fattah El Sisi ratified yesterday<\/a> a trade agreement with the UK that could unlock new UK investment in Egypt, including in the Suez Canal Economic Zone, oil and gas, manufacturing, agribusiness, healthcare and education sectors, UK Trade Envoy to Egypt Sir Jeffery Donaldson said last month<\/a>. The agreement goes into effect on New Year\u2019s Eve.<\/p>\n

The move follows <\/strong>last Thursday\u2019s<\/a><\/strong> historic UK-EU Brexit agreement,<\/strong> which should receive a \u201cprovisionally\u201d approval from the European Parliament when they meet today. Meanwhile, Boris Johnson has had to concede that the agreement \u201cperhaps does not go as far as we would like\u201d over access to EU markets for financial services,the Guardian<\/a> reports.<\/p>\n

CIRCLE YOUR CALENDAR-<\/strong><\/p>\n

EGX-listed companies must have at least one woman member of their board of directors <\/strong>by 31 December<\/strong> \u201cto avoid any action by the FRA.\u201d It is unclear what those actions may be, but we suspect we may find out soon enough, as almost half of EGX30 companies still had all-male boards when we checked earlier this month<\/a>. The FRA\u2019s decree is here<\/a> if you need to catch up.<\/p>\n

Will Thursday be a day off? <\/strong>We should be hearing any day now from the central bank (and the EGX) if Thursday is a banking holiday, as New Year\u2019s Day falls on a Friday. Banks with December-January fiscal years are typically shuttered on 1 January to close their books.<\/p>\n

Speaking of banks:<\/strong> A reminder that transaction fees on withdrawals from ATMs outside your bank\u2019s network will be hit with transaction fees as of Friday. The levies had been suspended earlier during the pandemic.<\/p>\n

We find ourselves agreeing with Amr Adib <\/strong>twice in one issue (see below). So maybe we haven\u2019t had enough coffee yet? Still, the voluble talkshow host hit the nail on the head last night in calling on the Interior Minister to extended 31 December deadline for all cars to be fitted with RFID stickers. Amr says our usual last-minute-itis will see El Moroor packed to the gills, spreading covid in the process, if there\u2019s no extension (watch, runtime: 8:25)<\/a><\/p>\n

Check out our full calendar on the web<\/strong> for a comprehensive listing of upcoming news events, national holidays and news triggers.<\/p>\n

FROM OUR TBR PILE-<\/strong><\/p>\n

Looking for something to work your brain cells while on vacation this week?<\/strong> We suggest:<\/p>\n