{"id":572068,"date":"2020-06-10T04:04:40","date_gmt":"2020-06-10T04:04:40","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2020\/06\/10\/what-were-tracking-on-10-june-2020\/"},"modified":"2020-06-10T04:04:40","modified_gmt":"2020-06-10T04:04:40","slug":"what-were-tracking-on-10-june-2020","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2020\/06\/10\/what-were-tracking-on-10-june-2020\/","title":{"rendered":"What we\u2019re tracking on 10 June 2020"},"content":{"rendered":"

We could know more as early as this afternoon about when the Madbouly government <\/strong>plans to reopen airspace <\/strong>to regular commercial flights. Cabinet\u2019s covid-19 committee said last week that it would review today the schedule on which it would ease some lockdown measures including the flight ban, which is presently due to expire on Sunday, 14 June. Officials said yesterday<\/a> that they were giving 20-50% discounts on landing, parking and ground services fees at Sharm El Sheikh, Hurghada and Matrouh airports to encourage charters when airspace reopens.<\/p>\n

Inflation figures for the month of May are due out today<\/strong> and central bank watchers around the world will cast their eyes to the United States as the US Federal Reserve\u2019s open market committee kicks off its two-day meeting. Jay Powell & Co will offer their first economic forecasts in six months when the meeting wraps tomorrow. The FT has a list of six things to watch as the Fed meets<\/a>.<\/p>\n

PSA #1- It\u2019s going to be hot today. <\/strong>Look for the mercury to spike to 40\u00b0C in the capital city today, according to our favorite weather app, cooling to 21\u00b0C overnight.<\/p>\n

PSA #2- What part of \u201cstay home\u201d don\u2019t you get? <\/strong>Coronavirus patients are most infectious when they first feel unwell, WHO experts said<\/a> yesterday.<\/p>\n

Also on the horizon:<\/p>\n

We\u2019re inching closer to House approval of the next state budget:<\/strong> The House Planning and Budgeting Committee approved yesterday parliament\u2019s allocations under the state budget for the upcoming fiscal year, Al Mal reports<\/a>. The committee has been holding piecemeal reviews and votes on the overall budget before handing it over to the general assembly for a final vote, which is scheduled for later this month. Parliament is expected to approve the budget before the current fiscal year ends on 30 June, though it has occasionally done so after that deadline. If that happens, spending continues as if the previous year\u2019s budget had rolled forward to the new fiscal year.<\/p>\n

SMART POLICY- <\/strong>The budget has earmarked EGP 447.3 bn for 691 green energy, transportation and housing projects during the upcoming fiscal year, according to a Planning Ministry statement<\/a>. Around half of this amount is earmarked for Metro line upgrades as well as a new high-speed electric rail line linking the new administrative capital to Ain Sokhna and Alamein. Other projects include sustainable housing in Upper Egypt and renewable energy plants.<\/p>\n

State grain buyer GASC is looking to tap the global grain market <\/strong>for the fourth time<\/a><\/strong> during the current 2020-2021 domestic harvest season. GASC, the world\u2019s largest grain buyer, is shoring up reserves after signals earlier during the covid-19 pandemic that sellers might ban exports. GASC purchased 120k tonnes of Ukrainian wheat last week as it looks to import a total of 800k tonnes<\/a> to help shore up its strategic reserves.<\/p>\n

We\u2019re going to see a partial solar eclipse on Sunday 21 June<\/strong>, according to the National Research Institute of Astronomy and Geophysics, Ahram Online<\/a> reports. The eclipse will be visible from 6:24am to 8:24am \u2014 just make sure to not look directly into the sun without a pair of sunglasses on.<\/p>\n

Keep your eye on:<\/p>\n