{"id":569148,"date":"2020-02-16T05:45:25","date_gmt":"2020-02-16T05:45:25","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2020\/02\/16\/what-were-tracking-on-16-february-2020\/"},"modified":"2020-02-16T05:45:25","modified_gmt":"2020-02-16T05:45:25","slug":"what-were-tracking-on-16-february-2020","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2020\/02\/16\/what-were-tracking-on-16-february-2020\/","title":{"rendered":"What we\u2019re tracking on 16 February 2020"},"content":{"rendered":"

Story of the Day #1- El Corona has officially landed in Egypt.<\/strong> We got a Valentine\u2019s Day present in the form of the first identified case of coronavirus. Unconfirmed reports suggest the patient is a Chinese national who landed at Cairo International Airport and is now in quarantine. We have the full story in this morning\u2019s Speed Round, below.<\/p>\n

The global <\/strong>travel<\/a><\/strong> and <\/strong>luxury<\/a><\/strong> markets are being hammered as travelers stay home <\/strong>in fear of the virus, which is now officially called covid-19, and pundits are suggesting it could have a longer-term effect<\/a> on the global economy.<\/p>\n

The conference industry is taking it on the chin.<\/strong> Mobile World Congress, the world\u2019s largest mobile industry gathering originally scheduled for Barcelona, was canceled last week<\/a>. CP+, the high-profile photography industry gathering in Yokohama, has just followed suit<\/a>.<\/p>\n

\n

Story of the Day #2- Analysts are split on whether you can expect a rate cut when the<\/strong> CBE\u2019s Monetary<\/strong> Policy Committee meets this Thursday.<\/strong> Half of the economists surveyed in our interest rate poll (which you\u2019ll find in this morning\u2019s Speed Round, below) think the central bank will hold off on further cuts until later in the year, while the other half say the MPC could resume its easing cycle this week.<\/p>\n

\n

The House Planning and Budgeting Committee will finally begin discussing the <\/strong>unified tax law this week,<\/strong> according to the local press<\/a>. The bill, which received cabinet approval<\/a> back in October, would create a single platform for filing income tax, stamp tax and VAT returns.<\/p>\n

(Don\u2019t confuse that bill with the long-promised <\/strong>rewrite of the tax code<\/a><\/strong>, which would (among other things) close loopholes for foreign companies operating in Egypt and on which Finance Ministry Mohamed Maait has promised public consultations sometime this winter<\/a>.)<\/p>\n

A<\/strong>uto incentives package heading to the House this week?<\/strong> The Trade Ministry is putting the final touches on the government\u2019s auto incentives package and will ship it off to the House of Representatives for review this week, Minister Nevine Gamea said, according to Al Mal<\/a>. The House Industrial Committee is expected to begin its discussion of the bill at the end of February, the local press reports<\/a>. The reproted \u201cstrategy\u201d would be \u201cquite different\u201d from what was presented by previous ministers, Gamea added, noting that the plan would devote an entire pillar to develop the electric vehicle market as the government moves to cut down on the use of gasoline and diesel fuel.<\/p>\n

From what we know so far,<\/strong> the bill to get the strategy up and running would give incentives to local assemblers to use more domestic components through customs breaks at a rate dependent on the percentage used. There is also some support within feeder industries and a clearer strategy for attracting FDI in the sector, head of the Industrial Development Authority\u2019s domestic manufacturing department Alaa Salaheldin said in December. Salaheldin noted at the time that the framework would draw from previous iterations of the program, by which we had assumed he meant the scrapped automotive directive<\/a>. You can read our primer here<\/a>.<\/p>\n

enterprise<\/a><\/p>\n

\n

The Minority Report wasn\u2019t meant as an instruction manual:<\/strong> China\u2019s biggest military technology company is setting up a national lab to create pre-crime-esque technologies that can predict where crimes might happen and intuit a person\u2019s emotions, according to the Financial Times<\/a>.<\/p>\n

Egypt\u2019s answer to Mother Teresa has been nominated for the 2020 Nobel Prize: <\/strong>Magda Gobran, aka Mama Maggie, has been nominated by several national and international institutions, including Canada\u2019s Parliament, for her humanitarian work with underprivileged children, according to a statement by the Emigration Ministry<\/a>.<\/p>\n

\n

IN MEMORIAM- The business community lost another member late last week when Crave <\/strong>co-founder<\/strong> Hazem El Dalati suddenly passed away.<\/strong> Hazem and his brother Fahed helped transform Egypt\u2019s dining scene with the international fusion restaurant, which they set up through their Tourism Investment Company (TICO) back in 2004. The company operates Crave restaurants, a catering business, and a hospitality management arm.<\/p>\n","protected":false},"excerpt":{"rendered":"

Story of the Day #1- El Corona has officially landed in Egypt. We got a Valentine\u2019s Day present in the form of the first identified case of coronavirus. Unconfirmed reports suggest the patient is a Chinese national who landed at Cairo International Airport and is now in quarantine. We have the full story in this […]<\/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":[169,9254,1077,413,898,72,164,746,125,1107,91,128,639,897],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-569148","post","type-post","status-publish","format-standard","hentry","category-what-were-tracking-today","tag-auc","tag-automation","tag-blackrock","tag-canada","tag-emmanuel-macron","tag-enterpriseam","tag-equities","tag-international-energy-agency","tag-investment-watch","tag-nobel-prize","tag-oil-and-gas","tag-opec","tag-technology","tag-wall-street","wpautop","entry"],"acf":{"mongo_id":"d7041e11-5888-4a61-a527-6a993e0dc86a","is_powered_by":true,"story_type":"1","photo_url":"","photo_position":"above","related_issue":[569146],"teaser":"","voice_url":""},"yoast_head":"\nWhat we\u2019re tracking on 16 February 2020 - 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\/2020\/02\/16\/what-were-tracking-on-16-february-2020\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"What we\u2019re tracking on 16 February 2020\" \/>\n<meta property=\"og:description\" content=\"Story of the Day #1- El Corona has officially landed in Egypt. 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It\u2019s one of those rare days when the international and local press converge to focus on the same story, with COP27 leading the conversation everywhere.BUT FIRST- We wanted to thank our friends at Mashreq Bank, who join us today as\u2026","rel":"","context":"In "WHAT WE\u2019RE TRACKING TONIGHT"","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":622911,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/10\/16\/what-were-tracking-on-16-october-2018\/","url_meta":{"origin":569148,"position":1},"title":"What we\u2019re tracking on 16 October 2018","author":"enterpriseam admin","date":"16 October 2018","format":false,"excerpt":"*** We\u2019re back this morning with a taste of the type of content you\u2019ll be seeing in Enterprise One, our forthcoming professional-grade business intelligence service offering actionable insights into the trends, transactions and news that should be shaping your business and investment decisions.We\u2019re including this morning two exclusive interviews: one\u2026","rel":"","context":"In "What We're Tracking Today"","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":638899,"url":"https:\/\/enterpriseam.com\/egypt\/2017\/10\/17\/what-were-tracking-on-17-october-2017\/","url_meta":{"origin":569148,"position":2},"title":"What we\u2019re tracking on 17 October 2017","author":"enterpriseam admin","date":"17 October 2017","format":false,"excerpt":"The EGX30 got slammed yesterday, retreating 2.7% on a volumes that were about 52% above the trailing 90-day average \u2014 and underperforming on the regional and global fronts. The selling pressure came in the way of foreign institutions, which looked as though they were locking in profits after a good\u2026","rel":"","context":"In "What We're Tracking Today"","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":569100,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/02\/13\/what-were-tracking-on-13-february-2020\/","url_meta":{"origin":569148,"position":3},"title":"What we\u2019re tracking on 13 February 2020","author":"enterpriseam admin","date":"13 February 2020","format":false,"excerpt":"We have a passel of M&A news to accompany the top story of the day: The suggestion that the CBE may ease off on interest rate cuts this year to bolster the carry trade in a challenging global environment. It\u2019s the final day of the Egypt Petroleum Show, which made\u2026","rel":"","context":"In "What We're Tracking Today"","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":594530,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/09\/01\/what-were-tracking-on-1-september-2019\/","url_meta":{"origin":569148,"position":4},"title":"What we\u2019re tracking on 1 September 2019","author":"enterpriseam admin","date":"1 September 2019","format":false,"excerpt":"Good morning, ladies and gents \u2014 and welcome to September. The end of Sahel season as we know it means the promise of slightly better weather to brave the uptick in traffic from the new school year. Across the pond, your colleagues in North America are ringing in the new\u2026","rel":"","context":"In "What We're Tracking Today"","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":639208,"url":"https:\/\/enterpriseam.com\/egypt\/2017\/10\/24\/what-were-tracking-this-week-119\/","url_meta":{"origin":569148,"position":5},"title":"What we\u2019re tracking this week","author":"enterpriseam admin","date":"24 October 2017","format":false,"excerpt":"The executive regulations for the Investment Act are expected to be issued this week, Prime Minister Sherif Ismail had said.Friday is a big day for gadget geeks, Eighties fans and game aficionados: The iPhone 8 and 8 plus will officially launch in Egypt; The iPhone X becomes available for pre-order\u2026","rel":"","context":"In "What We\u2019re Tracking This Week"","block_context":{"text":"What We\u2019re Tracking This Week","link":"https:\/\/enterpriseam.com\/egypt\/category\/what-were-tracking-this-week\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/569148","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=569148"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/569148\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/569146"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=569148"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=569148"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=569148"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=569148"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=569148"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}