{"id":570270,"date":"2020-03-25T04:06:22","date_gmt":"2020-03-25T04:06:22","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2020\/03\/25\/what-were-tracking-on-25-march-2020\/"},"modified":"2020-03-25T04:06:22","modified_gmt":"2020-03-25T04:06:22","slug":"what-were-tracking-on-25-march-2020","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2020\/03\/25\/what-were-tracking-on-25-march-2020\/","title":{"rendered":"What we\u2019re tracking on 25 March 2020"},"content":{"rendered":"

The biggest news of the day:<\/strong> A daily curfew from 7pm-6am goes into effect this evening for at least two weeks. The Madbouly government has also extended both the closure of schools and universities and the suspension of international flights, and has shut all but a handful of government services. We have chapter and verse on everything you need to know in this morning\u2019s Speed Round, below.<\/p>\n

PSA- You\u2019re going to hear a lot about social distancing measures being <\/strong>\u201cworse than the <\/strong>disease\u201d<\/strong> in the days ahead, including from The Donald, who wants the US open for business by Easter<\/a>. And there may prove to be smarter ways to do it. But in the meantime, it\u2019s the best the world can muster. Doubt it? Read this thread by Tom Inglesby of Johns Hopkins.<\/a><\/p>\n

COVID 19 IN EGYPT-<\/strong><\/p>\n

<\/a> The Health Ministry yesterday reported<\/a><\/strong> thirty-six new cases of covid-19,<\/strong> all but one of them Egyptian citizens, taking the overall total to 402. A woman from Alexandria, aged 54, became the latest victim of the outbreak, bringing the country\u2019s death toll to 20. Twelve people \u2014 nine Egyptians and three foreigners \u2014 were discharged from hospital, meaning 80 people have now made full recoveries.<\/p>\n

Cleopatra Hospitals and medical diagnostics outfit IDH have laid out how they\u2019re <\/strong>handling covid-19, as has snackmaker Edita. <\/strong>Give them a read to see how they\u2019re protecting patients and consumers from the virus that\u2019s preoccupying us all \u2014 they\u2019re both reassuring to read as consumers and models of what to do if you\u2019re in a critical industry. Read (pdf): Cleopatra Hospitals<\/a> | IDH<\/a> (which owns diagnostics chains Al Borg and Al Mokhtabar) | Edita<\/a>.<\/p>\n

\u201cOkay, so my company needs to put out a covid-19 statement, right?\u201d No<\/strong>, as we suggested recently in a note to friends and clients<\/a>, unless you\u2019re in a critical or regulated industry.<\/p>\n

The other obvious exception: If you\u2019re closing shop for the duration <\/strong>or otherwise have an, uhm, adverse outcome to report. Just make sure you aim your communication directly at your core audience, whether that\u2019s investors or consumers, for example.<\/p>\n

The German-Arab Chamber of Industry and Commerce did this when it told us that it <\/strong>has closed for an indefinite period <\/strong>due to ongoing events. The chamber\u2019s staff members are accessible via email<\/a>.<\/p>\n

\n

Air freight costs have more than doubled since the suspension of air traffic at Egypt\u2019s <\/strong>airports<\/strong>, an industry official is quoted as saying by the local press reports<\/a>. Both Emirates and EgyptAir have had to hike prices.<\/p>\n

Farmers receive debt relief:<\/strong> The Central Bank of Egypt has agreed to postpone loan repayments for farmers and breeders for six months, the Agriculture Minister El Sayed El Qusair said yesterday<\/a>. This after the central bank last week extended the tenor of all bank loans by six months<\/a> to provide relief to businesses.<\/p>\n

Afreximbank has announced a USD 3 bn package to assist member countries, including <\/strong>Egypt,<\/strong> manage the economic and health impacts of the covid-19 outbreak, Al Mal reports<\/a>. It will support member states and other financial institutions in meeting their commercial loan obligations, as well as support foreign exchange reserves in the states\u2019 central banks.<\/p>\n

FOOD FOR THOUGHT- What the global pandemic means for Egypt\u2019s informal <\/strong>economy:<\/strong> A side effect of the covid-19 pandemic is that it may push the government to reconsider its view of informal labor \u2014 be it seasonal labor, self-employed workers, or household enterprises that depend on daily transactions, Amr Adly writes for Bloomberg Opinion<\/a>. Some 30% of labor in Egypt is informal, making it a major obstacle in imposing curfews or self-isolation given the lack of communication channels. It\u2019s also a chance for the government to improve its regulation of the informal economy \u2014 and give incentives to the informal economy to go legit to capitalize on formal safety nets. The draft SMEs Act, which is currently making its way<\/a> through the House of Representatives, will introduce tax and non-tax incentives to encourage informal businesses to join the formal economy.<\/p>\n

ON THE GLOBAL FRONT-<\/strong><\/p>\n

G7 officials pledge to do whatever it takes to save the global economy:<\/strong> G7 finance minister and central bank governors yesterday vowed to ramp up emergency fiscal and monetary stimulus measures as long as the global economy is threatened by the covid-19 pandemic. \u201cWe will do whatever is necessary to restore confidence and economic growth and to protect jobs, businesses, and the resilience of the financial system. We also pledge to promote global trade and investment to underpin prosperity,\u201d the group said in a statement<\/a>.<\/p>\n

Is the US the next epicenter of corona?<\/strong> The World Health Organization suggested yesterday that the US could become the next epicenter as the country sees a \u201cvery large acceleration\u201d of cases, Reuters reports<\/a>.<\/p>\n

India has imposed a nationwide lockdown for 21 days <\/strong>to prevent the spread of covid-19, reports Reuters<\/a>. It has reported 482 cases and 10 deaths so far, but the world\u2019s second most populous country could see over a mn cases by May, health researchers warn.<\/p>\n

The UAE is unblocking apps that use voice over IP<\/strong>, including Microsoft Teams, Skype for Business, Google Hangout, Zoom, and Blackboard to help employees work remotely, according to Bloomberg<\/a>.<\/p>\n

The 2020 Summer Olympics have been postponed until 2021,<\/strong> the International Olympic Committee confirmed, according to the Associated Press<\/a>.<\/p>\n

\n

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

US presidential hopeful Joe Biden\u2019s campaign is struggling to capture attention and <\/strong>funds amid the covid-19 crisis<\/strong>, pushing what would normally be a presidential campaign in full gear to relative obscurity, Reuters reports<\/a>. Heightened restrictions and the economic fallout of the covid-19 outbreak are challenging the campaign\u2019s fundraising effort and large public events are effectively off limits, meaning no campaign events. Meanwhile, big ticket donors are more focused on corona-related support \u2014 simply staying afloat.<\/p>\n

\n

Oh, and the rest of the world is getting a taste of Egyptian internet <\/strong>as Microsoft, Zoom, Google and other work-from-home tool providers struggle to keep up with demand \u2014 and as Youtube moves the whole world today to standard definition (480p) video by default. Google says the Youtube downshift will last a month. Regulators in Europe had already asked Netflix and Amazon Prime Video to do the same, Bloomberg<\/a> notes. Use the time to watch Metallica in concert<\/a><\/strong> as the band releases a concert a week for the world to watch without charge.<\/p>\n

\"enterprise\"<\/p>\n

*** It\u2019s Hardhat day \u2014 your weekly briefing of all things infrastructure in Egypt:<\/strong> Enterprise\u2019s industry vertical focuses each Wednesday on infrastructure, covering everything from energy, water, transportation, urban development and even social infrastructure such as health and education.<\/p>\n

In today\u2019s issue: Our exclusive sitdown with Osama Bishai, CEO of Orascom <\/strong>Construction<\/strong>, the first in a two-part series on how the construction industry is managing the covid-19 crisis. Bishai spoke with us on the state of the sector during covid today, what can we expect on the long term, and what lessons or positive outcomes we can draw in a post-covid-19 world. Part two next week features a sit-down with Hassan Allam Holding co-CEOs Amr and Hassan Allam.<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

The biggest news of the day: A daily curfew from 7pm-6am goes into effect this evening for at least two weeks. The Madbouly government has also extended both the closure of schools and universities and the suspension of international flights, and has shut all but a handful of government services. We have chapter and verse […]<\/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":[72,564,7196,2412,235,180,131,287,1348],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-570270","post","type-post","status-publish","format-standard","hentry","category-what-were-tracking-today","tag-enterpriseam","tag-food","tag-industry","tag-informal-economy","tag-labor","tag-legislation","tag-manufacturing","tag-smes","tag-smes-act","wpautop","entry"],"acf":{"mongo_id":"b511e412-d50c-4f53-8f17-55c458dfe379","is_powered_by":true,"story_type":"1","photo_url":"","photo_position":"above","related_issue":[570268],"teaser":"","voice_url":""},"yoast_head":"\nWhat we\u2019re tracking on 25 March 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\/03\/25\/what-were-tracking-on-25-march-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 25 March 2020\" \/>\n<meta property=\"og:description\" content=\"The biggest news of the day: A daily curfew from 7pm-6am goes into effect this evening for at least two weeks. 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The news flow is picking up this afternoon, with a solid selection of stories to track as we slide into the second half of the week.THE BIG STORY TODAY Egypt has pulled the trigger on its maiden sukuk issuance: The country is in the\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":599274,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/06\/24\/maglis-el-dawla-completes-its-review-of-smes-customs-acts\/","url_meta":{"origin":570270,"position":1},"title":"Maglis El Dawla completes its review of SMEs, customs acts","author":"enterpriseam admin","date":"24 June 2019","format":false,"excerpt":"LEGISLATION WATCH- Maglis El Dawla completes review of SMEs, customs acts: The Council of State (Maglis El Dawla) has completed its review of proposed SMEs and customs acts and has sent them back to the Madbouly Cabinet for approval, unidentified sources tell the local press. Once Cabinet signs off on\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":598547,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/05\/28\/state-council-to-complete-reviewing-customs-and-smes-acts-this-week\/","url_meta":{"origin":570270,"position":2},"title":"State Council to complete reviewing customs and SMEs acts this week","author":"enterpriseam admin","date":"28 May 2019","format":false,"excerpt":"LEGISLATION WATCH- Maglis El Dawla to finalize review of draft customs and SMEs acts this week: The Council of State (Maglis El Dawla) is expected to finish reviewing the draft customs and SMEs acts this week and send them to Cabinet before Eid El Fitr, the local press reports. Sources\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2019\/5\/939.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":593284,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/11\/24\/egypt-expands-customs-clearance-green-channel-to-include-smes\/","url_meta":{"origin":570270,"position":3},"title":"Egypt expands customs clearance \u201cgreen channel\u201d to include SMEs","author":"enterpriseam admin","date":"24 November 2019","format":false,"excerpt":"Gov\u2019t expands customs clearance \u201cgreen channel\u201d to include SMEs: The government has decided to expand its \u201cgreen channel\u201d system for whitelisted importers to enjoy expedited customs clearance to include small and medium-sized enterprises, according to a Finance Ministry statement. The move is meant to improve SMEs\u2019 production capabilities, the statement\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":593104,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/11\/18\/draft-smes-act-gets-early-nod-from-house-committee\/","url_meta":{"origin":570270,"position":4},"title":"Draft SMEs Act gets early nod from House committee","author":"enterpriseam admin","date":"18 November 2019","format":false,"excerpt":"LEGISLATION WATCH- Draft SMEs Act gets early nod from House committee: The proposed SMEs Act, which would provide tax and non-tax incentives for small and medium-sized businesses to join the formal economy, received preliminary House committee approval yesterday, according to Masrawy. The current 76-article draft provides a legal framework to\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2019\/2\/1149.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":593564,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/10\/02\/what-were-tracking-on-2-october-2019\/","url_meta":{"origin":570270,"position":5},"title":"What we\u2019re tracking on 2 October 2019","author":"enterpriseam admin","date":"2 October 2019","format":false,"excerpt":"We\u2019re heading into a long weekend, with the Manpower Ministry declaring Sunday 6 October a vacation day for civil servants and private sector employees alike in observance of Armed Forces day. Enterprise will also be off, and we\u2019ll be back in your inboxes at the appointed hour on Monday morning.\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":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/570270","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=570270"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/570270\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/570268"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=570270"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=570270"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=570270"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=570270"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=570270"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}