{"id":573834,"date":"2020-08-19T04:05:26","date_gmt":"2020-08-19T04:05:26","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2020\/08\/19\/what-were-tracking-on-18-august-2020-2\/"},"modified":"2020-08-19T04:05:26","modified_gmt":"2020-08-19T04:05:26","slug":"what-were-tracking-on-18-august-2020-2","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2020\/08\/19\/what-were-tracking-on-18-august-2020-2\/","title":{"rendered":"What we\u2019re tracking on 18 August 2020"},"content":{"rendered":"

Welcome to the final workday of this abbreviated workweek. <\/strong>We hope you\u2019ve all made plans for the long weekend \u2014 ideally ones that involve a modicum of social distancing?<\/p>\n

The House of Representatives isn\u2019t going on summer recess just yet:<\/strong> House Speaker Ali Abdel Aal adjourned<\/a> parliament\u2019s plenary sessions yesterday until next Sunday, 23 August. Parliament had a three-day legislative marathon this week as it pushed through a host of bills, which we had taken as the prelude to its summer recess. We have chapter and verse on yesterday\u2019s legislative session in this morning\u2019s Speed Round, below.<\/p>\n

We\u2019re getting the results of last week\u2019s Senate elections today:<\/strong> National Elections Authority chief Lasheen Ibrahim is expected to announce the results of the vote later today. Runoffs are scheduled for 8-9 September in any districts where the results are inconclusive. Voters are electing 200 members to the newly reconstituted upper house of parliament, while the presidency will nominate another 100 members.<\/p>\n

PSA- Stranger Things hasn\u2019t resumed filming yet, but we now know there will be at least <\/strong>one season beyond the upcoming fourth installation<\/strong>, according to this Hollywood Reporter<\/a> interview with showrunners the Duffer brothers. The interview is part of the outlet\u2019s coverage in the run-up to the Emmys.<\/p>\n

** We\u2019re not publishing tomorrow <\/strong>in observance of the national holiday, but we\u2019ll be back in your inboxes (and on the web<\/a>) at the usual time on Sunday morning.<\/p>\n

\n

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

The Health Ministry <\/strong>reported<\/a><\/strong> 163 new covid-19 infections yesterday<\/strong>, up from 115 the day before. Egypt has now disclosed a total of 96,753 confirmed cases of covid-19. The ministry also reported 11 new deaths, bringing the country\u2019s total death toll to 5,184. We now have a total of 61,652 confirmed cases that have fully recovered.<\/p>\n

The Federation of Egyptian Chambers of Commerce wants to standardize maximum <\/strong>business<\/strong> hours for retail outlets.<\/strong> A proposal currently with cabinet would see most stores allowed to open weekdays from 5am-11pm, while unspecified outlets whose activities are particularly noisy would not be permitted to open before 8am, the local press<\/a> reports. Closing hours would extend to midnight on Thursdays and Fridays; all stores would need to close by 10pm in winter (please don\u2019t ask us to sort through the logic there).<\/p>\n

Red Sea hotel occupancy rates are still below the 50% cap set by the gov\u2019t:<\/strong> Hotel occupancy in Hurghada is currently at 30-40%, making it the top performer in the country despite still falling short of the 50% capacity limit the government imposed as part of its covid-19 safety measures, Red Sea Tourism Investment Association Chairman Kamel Abou Aly told Reuters<\/a>. Sharm El Sheikh lags behind with a 20-25% occupancy rate, which is still inching up as domestic tourists flock to the coastal city during the summer, Egyptian Hotel Association Board Member Hisham El Shaer said. Occupancy rates during the first half of the year<\/a> averaged at 53% in Hurghada and 51% in Sharm.<\/p>\n

FURTHER AFIELD- Renewed covid-19 outbreaks in some European countries are <\/strong>kneecapping their economic recovery<\/strong>, according to data measured by Bloomberg Economics<\/a>. Italy, France and Spain saw a fall in activity in the first half of August, while the recovery in Germany, Sweden and Norway continued to be \u201csluggish.\u201d<\/p>\n

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

Joe Biden is officially the Democrats\u2019 nominee for November\u2019s US presidential election<\/strong> as the second night of the Dems\u2019 virtual national convention comes to an end. Among the many speakers last night were former president Bill Clinton (addressing a party that has \u201cleft him behind,\u201d<\/a> but laying out a \u201cstark choice\u201d for voters<\/a>) and Rep. Alexandria Ocasio-Cortez (making the case for progressive change). The convention continues through Thursday, when Biden is set to accept the nomination. The NYT liveblogged last night\u2019s festivities<\/a>, Politico has wall-to-wall coverage<\/a> and you can visit the convention\u2019s official website<\/a> for more.<\/p>\n

The S&P 500 closed at its highest level ever yesterday, erasing its corona-induced losses<\/strong> and \u201ccapping a remarkable rebound fueled by unprecedented government stimulus and optimism among investors about the world\u2019s ability to manage the coronavirus pandemic,\u201d the WSJ reports<\/a>.<\/p>\n

The latest worry over whether the US is losing its edge as the world\u2019s reserve currency:<\/strong> Russia\u2019s rising EUR inflows from its exports to China in 1Q2020, coupled with wide-reaching EU stimulus measures, are fueling the thus-far \u201chistorically unconsummated concern\u201d that the USD\u2019s standing as the world\u2019s reserve currency is uncertain, Dion Rabouin writes for Axios<\/a>. The moment of strength for the EUR is also coinciding with a \u201cmoment of weakness\u201d for the US, with the hegemon facing the world\u2019s most severe covid-19 outbreak and the Federal Reserve expanding its balance sheet by the tns.<\/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 as well as social infrastructure such as health and education.<\/p>\n

In today\u2019s issue:<\/strong> In part 2 of our series on why Egypt is still experiencing brownouts despite a large surplus in energy generation capacity, we look at how the smart grid can help stop power cuts and improve energy efficiency<\/p>\n","protected":false},"excerpt":{"rendered":"

Welcome to the final workday of this abbreviated workweek. We hope you\u2019ve all made plans for the long weekend \u2014 ideally ones that involve a modicum of social distancing? The House of Representatives isn\u2019t going on summer recess just yet: House Speaker Ali Abdel Aal adjourned parliament\u2019s plenary sessions yesterday until next Sunday, 23 August. […]<\/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":[3377,984,104,72,955,505,108,145,462,3537,954,190,777,1464,238,1010],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-573834","post","type-post","status-publish","format-standard","hentry","category-what-were-tracking-today","tag-aly-el-moselhy","tag-donald-trump","tag-economy","tag-enterpriseam","tag-hospitality","tag-hurghada","tag-lebanon","tag-logistics","tag-microsoft","tag-oracle","tag-sharm-el-sheikh","tag-social-welfare","tag-supply-ministry","tag-tiktok","tag-tourism","tag-twitter","wpautop","entry"],"acf":{"mongo_id":"5e88a58d-72bb-47f4-9752-2cd6157b94cc","is_powered_by":true,"story_type":"1","photo_url":"","photo_position":"above","related_issue":[573832],"teaser":"","voice_url":""},"yoast_head":"\nWhat we\u2019re tracking on 18 August 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\/08\/19\/what-were-tracking-on-18-august-2020-2\/\" \/>\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 18 August 2020\" \/>\n<meta property=\"og:description\" content=\"Welcome to the final workday of this abbreviated workweek. 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The Senate went on recess on 19 July. What does this mean for the rumored cabinet shuffle? The parliament could\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":547653,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/07\/03\/this-morning-light-rail-opens-today-mps-could-break-for-recess-this-week\/","url_meta":{"origin":573834,"position":1},"title":"THIS MORNING: Light rail opens today + MPs could break for recess this week","author":"enterpriseam admin","date":"3 July 2022","format":false,"excerpt":"Welcome to FY2022-2023, ladies and gentlemen. And while a bunch of you are on summer break (judging by the volume of OOO replies in our inboxes), there\u2019s no rest for the weary on the policy and investment front. THE BIG STORIES TODAY are too numerous to summarize up top: We\u2019ve\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":646314,"url":"https:\/\/enterpriseam.com\/egypt\/2017\/06\/12\/what-were-tracking-this-week-167\/","url_meta":{"origin":573834,"position":2},"title":"What we\u2019re tracking this week","author":"enterpriseam admin","date":"12 June 2017","format":false,"excerpt":"The stamp tax on capital market transactions could come into effect as early as this week.The House of Representatives will tackle the Labor Act this coming Thursday in a plenary session, while the House Manpower Committee will hold hearings on the Labor Unions Act starting mid-July.The House of Representatives has\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":[]},{"id":646107,"url":"https:\/\/enterpriseam.com\/egypt\/2017\/06\/06\/what-were-tracking-this-week-164\/","url_meta":{"origin":573834,"position":3},"title":"What we\u2019re tracking this week","author":"enterpriseam admin","date":"6 June 2017","format":false,"excerpt":"With a very busy economic agenda still ahead of it, it remains an open question whether the House will go on summer recess at the end of June. Either way, little moved forward on the economic front yesterday as MPs (like the rest of us) were agog at developments with\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":[]},{"id":599225,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/06\/23\/house-to-vote-on-commercial-rents-after-the-summer-recess\/","url_meta":{"origin":573834,"position":4},"title":"House to vote on commercial rents after the summer recess","author":"enterpriseam admin","date":"23 June 2019","format":false,"excerpt":"LEGISLATION WATCH- House to vote on commercial rent law during next legislative session: The House of Representatives is expected to vote on proposed amendments to the commercial \u201cold rent\u201d law after the summer recess, parliamentary sources told the local press. A House committee approved earlier this month a proposed amendment\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":626886,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/07\/15\/what-were-tracking-on-15-july-2018\/","url_meta":{"origin":573834,"position":5},"title":"What we\u2019re tracking on 15 July 2018","author":"enterpriseam admin","date":"15 July 2018","format":false,"excerpt":"The Emerging Markets Zombie Apocalypse has put the squeeze on Egypt, with outflows from debt instruments in the USD 4-5 bn range, according to a Reuters report. But we\u2019re not about to become walker-bait, Finance Minister Mohamed Maait told us in conversation this weekend (admittedly, he didn\u2019t use those exact\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\/573834","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=573834"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/573834\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/573832"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=573834"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=573834"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=573834"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=573834"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=573834"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}