{"id":574071,"date":"2020-08-30T04:01:41","date_gmt":"2020-08-30T04:01:41","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2020\/08\/30\/what-were-tracking-on-sunday-29-august-2020\/"},"modified":"2020-08-30T04:01:41","modified_gmt":"2020-08-30T04:01:41","slug":"what-were-tracking-on-sunday-29-august-2020","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2020\/08\/30\/what-were-tracking-on-sunday-29-august-2020\/","title":{"rendered":"What we\u2019re tracking on Sunday, 29 August 2020"},"content":{"rendered":"<p><strong>Good morning, friends \u2014 can you believe it is almost September? <\/strong>Our favourite month of the year gets underway on Tuesday. Among the highlights to which you can look forward this coming month:<\/p>\n<ul>\n<li><strong>Mandatory covid testing: <\/strong>All arrivals to Egypt (citizens, tourists and residents alike) need to produce a negative RT-PCR test for covid-19 starting Tuesday, 1 September.<\/li>\n<li><strong>Museum and archaeological sites <\/strong>are set to reopen nationwide on Tuesday;<\/li>\n<li><strong>New school year: <\/strong>Look for a gov\u2019t announcement on the shape of the new school year sometime in the <strong>first week<\/strong> of September;<\/li>\n<li><strong>PMI figures for August<\/strong> will land on Thursday, 3 September;<\/li>\n<li><strong>Foreign reserves figures<\/strong> should be out early next week;<\/li>\n<li><strong>Runoff elections <\/strong>for Senate seats are scheduled for 8-9 September. Look for final results on the 16th.<\/li>\n<li><strong>Inflation data for August<\/strong> should be out on or around Thursday, 10 September;<\/li>\n<li><strong>Interest rates <\/strong>next come up for review at the CBE on Thursday, 24 September.<\/li>\n<\/ul>\n<p><strong>The Union National Bank (UNB) in Egypt rebadges as Abu Dhabi Commercial Bank today<\/strong> four months after UNB\u2019s parent company in the UAE <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/87e47606-7c19-471f-bb13-89711362cd69\">merged<\/a> with ADCB and Sharia-compliant lender Al Hilal Bank in April to create one of the Emirates\u2019 largest commercial lenders.<\/p>\n<p><strong>SIGN OF THE TIMES- US stocks are headed for their best August since 1986<\/strong>, the <a href=\"https:\/\/www.ft.com\/content\/9cc779aa-d4b3-48d9-8878-f6690b4e34f3\">Financial<\/a> <a href=\"https:\/\/www.ft.com\/content\/9cc779aa-d4b3-48d9-8878-f6690b4e34f3\">Times<\/a> reports, but a sharp upticks in layoffs suggest companies around the world still face <strong><a href=\"https:\/\/www.wsj.com\/articles\/new-covid-19-layoffs-make-job-reductions-permanent-11598654257\">\u201cyears of pandemic-related disruptions\u201d<\/a><\/strong> and <strong><a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2020-08-29\/job-cuts-at-mgm-coca-cola-boeing-herald-economic-pain-ahead\">\u201cherald economic pain ahead,\u201d<\/a><\/strong> the Wall Street Journal and Bloomberg note.<\/p>\n<hr class=\"grey-line\" \/>\n<p><strong>Egypt\u2019s covid-19 infection rate is still above 200:<\/strong> The Health Ministry <a href=\"https:\/\/bit.ly\/3hK0sPB\">reported<\/a> 237 new cases of covid-19 on Thursday, the highest daily tally in almost a month. The single-day toll <a href=\"https:\/\/bit.ly\/31HclAh\">fell back to 212<\/a> yesterday <a href=\"https:\/\/bit.ly\/2EMSXZL\">from 223<\/a> on Friday. <strong>Cases are up from a low of 89 a week ago<\/strong> today. Egypt has now disclosed 98,497 confirmed cases of covid-19. The ministry also reported 14 new deaths, bringing the country\u2019s total death toll to 5,376. We now have a total of 71,302 confirmed cases that have fully recovered.<\/p>\n<p><strong>Transportation services for tourists will resume starting 1 September,<\/strong> under <a href=\"https:\/\/bit.ly\/3gFXHh5\">new<\/a> <a href=\"https:\/\/bit.ly\/3gFXHh5\">guidelines<\/a> issued by the Tourism Ministry on Friday. Larger buses will be allowed to operate at 50% capacity while smaller cars are capped at two passengers at any given time. Drivers and passengers will be required to wear face masks during trips. This comes as authorities <a href=\"https:\/\/bit.ly\/31BlLNI\">prepare to reopen archaeological sites and museums<\/a> to tourists on 1 September.<\/p>\n<p><strong>VACCINE WATCH- A Chinese vaccine could be destined for Egypt:<\/strong> A covid-19 vaccine being developed in China could be made available in Egypt within four months if it proves effective, according to statements by a Health Ministry spokesperson cited by <a href=\"https:\/\/bit.ly\/3jrKUAt\">Masrawy<\/a>. The Health Ministry <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/5d2765f5-252e-4315-9c7d-9712d50c8581\">said last week<\/a> that the two countries will sign next month an agreement to start working together on a covid-19 vaccine. Egyptian scientists are in the third stage of clinical trials on a homegrown covid-19 vaccine, and the ministry has simultaneously <a href=\"https:\/\/bit.ly\/3hA6Itm\">contacted six international manufacturers<\/a> to get its hands on an internationally developed vaccine as soon as possible. Russia could also potentially manufacture its <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/caacfa43-9823-42c2-b386-17e9406becd2\">Sputnik V vaccine<\/a> here in Egypt.<\/p>\n<p><strong>EgyptAir is now operating at 45% of its pre-covid capacity<\/strong> for the first time since the country resumed international flights on 1 July, <a href=\"https:\/\/www.shorouknews.com\/news\/view.aspx?cdate=29082020&id=42ac69d1-0751-4a36-91d2-892d72c53855\">Al Shorouk<\/a> reports.<\/p>\n<p><strong>The carrier is also offering discounts on tickets to select European destinations<\/strong> booked before 15 September, <a href=\"https:\/\/bit.ly\/2EBXRJe\">Al Mal<\/a> reports.<\/p>\n<p class=\"web-image stand-out-borderless\"><a href=\"https:\/\/somabay.com\/\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2020\/8\/SOMA-ENTERPRISE-APPAMEND-1600px.jpg?ssl=1\" alt=\"enterprise\" \/><\/a><\/p>\n<p><strong>Delivery Hero to purchase InstaShop for USD 270 mn as it eyes MENA expansion: <\/strong>German takeout delivery service Delivery Hero is reportedly buying Dubai-based online grocery marketplace InstaShop for some USD 270 mn as delivery services and stay at home dining soars under covid-19, <a href=\"https:\/\/www.reuters.com\/article\/us-delivery-hero-m-a\/delivery-hero-buys-instashop-to-expand-in-middle-east-north-africa-idUSKBN25N0JI\">Reuters<\/a> reports. InstaShop operates in Egypt, the UAE, Qatar, Bahrain, and Lebanon.<\/p>\n<p><strong>The UAE has formally dropped its boycott of Israel<\/strong>, in the latest concrete sign that the <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/4a356ca5-72ec-4b05-857c-f572ae2910da\">normalization agre<\/a><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/4a356ca5-72ec-4b05-857c-f572ae2910da\">ement<\/a> signed between the two countries is swiftly moving forward, the UAE\u2019s state news agency <a href=\"https:\/\/www.wam.ae\/en\/details\/1395302865596\">WAM<\/a> reports. Also this weekend, <strong>Israel listed the first ever commercial flight to UAE on Friday<\/strong>, with the El Al plane set to land in Abu Dhabi on Monday, according to <a href=\"https:\/\/apnews.com\/3c287c197d12030221a2e50c53c0677d\">the Associated Press<\/a>. In the latest show of the budding bromance, the <a href=\"https:\/\/www.iaa.gov.il\/en-US\/rashot\/Pages\/default.aspx\">Israel Airports Authority<\/a> numbered the flight LY971, a nod to the UAE\u2019s international calling code number, while the return flight to Tel Aviv on Tuesday will be numbered LY972, Israel\u2019s international calling code, writes <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2020-08-28\/israel-lists-first-commercial-passenger-flight-to-uae?srnd=premium-middle-east&sref=mmeFTDW1\">Bloomberg<\/a>.<\/p>\n<p><strong>Japan\u2019s Prime Minister Shinzo Abe, 65, stepped down on Friday citing health reasons<\/strong>, writes <a href=\"https:\/\/www.nytimes.com\/2020\/08\/28\/world\/asia\/shinzo-abe-resign-japan.html\">the New York Times<\/a>. The nationalist leader announced his resignation just four days after setting the record for the longest serving prime minister.<\/p>\n<p><strong>The end of Abenomics?<\/strong> Abe\u2019s self-titled economic program ramped up state investment, eased monetary policy and cut regulations in a bid to haul the Japanese economy out of years of stagflation. The reform program saw Japan\u2019s economy experience its longest run of post-World War II growth, unemployment fall to a 25-year low and the country\u2019s main stock index double in value, according to <a href=\"https:\/\/www.wsj.com\/articles\/japans-shinzo-abe-leaves-abenomics-project-unfinished-11598633853\">The Wall Street Journal<\/a>.<\/p>\n<p><em>Correction (30\/08\/2020): A previous version of this article incorrectly stated that as of 1 September inbound travellers to Egyptian airports have to possess PCR test results taken no earlier than 48 hours before arrival.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Good morning, friends \u2014 can you believe it is almost September? Our favourite month of the year gets underway on Tuesday. Among the highlights to which you can look forward this coming month: Mandatory covid testing: All arrivals to Egypt (citizens, tourists and residents alike) need to produce a negative RT-PCR test for covid-19 starting [&hellip;]<\/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":[528,116,2415,72,89,570,462,3537,127,9293,270,2141,877,1464,90,477,1009],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-574071","post","type-post","status-publish","format-standard","hentry","category-what-were-tracking-today","tag-aviation","tag-china","tag-economic-reform-program","tag-enterpriseam","tag-israel","tag-japan","tag-microsoft","tag-oracle","tag-politics","tag-prime-minister","tag-russia","tag-shinzo-abe","tag-sputnik-v","tag-tiktok","tag-uae","tag-vacsera","tag-walmart","wpautop","entry"],"acf":{"mongo_id":"b9e7c123-3595-4128-aa8b-b2c47f3f1ca0","is_powered_by":true,"story_type":"1","photo_url":"","photo_position":"above","related_issue":[574069],"teaser":"","voice_url":""},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>What we\u2019re tracking on Sunday, 29 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\/30\/what-were-tracking-on-sunday-29-august-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 Sunday, 29 August 2020\" \/>\n<meta property=\"og:description\" content=\"Good morning, friends \u2014 can you believe it is almost September? 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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 &quot;What We're Tracking Today&quot;","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":574248,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/09\/03\/what-were-tracking-on-3-september-2020\/","url_meta":{"origin":574071,"position":1},"title":"What we\u2019re tracking on 3 September 2020","author":"enterpriseam admin","date":"3 September 2020","format":false,"excerpt":"It\u2019s a busy news day as we slide into PMI day and, with it, the weekend. Be on the lookout at 6:15am for figures measuring non-oil private sector activity in Egypt, Saudi Arabia and the UAE. Egypt\u2019s PMI hit a one-year high in July as output and exports picked up\u2026","rel":"","context":"In &quot;What We're Tracking Today&quot;","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":642352,"url":"https:\/\/enterpriseam.com\/egypt\/2017\/08\/13\/on-the-horizon-for-13-august-2017\/","url_meta":{"origin":574071,"position":2},"title":"On the Horizon for 13 August 2017","author":"enterpriseam admin","date":"13 August 2017","format":false,"excerpt":"The Federation of Egyptian Banks is set to send the CBE itscomments on the Central Bank and banking act in the coming few weeks. President Abdel Fatah El Sisi is due to visit China next month. He will be meeting his Chinese counterpart Xi Jinping on the sidelines of a\u2026","rel":"","context":"In &quot;ON THE HORIZON&quot;","block_context":{"text":"ON THE HORIZON","link":"https:\/\/enterpriseam.com\/egypt\/category\/on-the-horizon\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":574208,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/09\/02\/what-were-tracking-on-2-september-2020\/","url_meta":{"origin":574071,"position":3},"title":"What we\u2019re tracking on 2 September 2020","author":"enterpriseam admin","date":"2 September 2020","format":false,"excerpt":"It\u2019s relatively quiet on the news front on this second day of September as the business community begins a two-week-long trudge back to Cairo from Sahel to kick off fall and, with it, the 2021 planning season. Expect the pace of business and news to steadily pick up through mid-September,\u2026","rel":"","context":"In &quot;What We're Tracking Today&quot;","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":594682,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/09\/04\/what-were-tracking-on-4-september-2019\/","url_meta":{"origin":574071,"position":4},"title":"What we\u2019re tracking on 4 September 2019","author":"enterpriseam admin","date":"4 September 2019","format":false,"excerpt":"Good morning, ladies and gentlemen. Can we start by saying how grateful we are that public schools are not yet back in session, meaning Cairo traffic is not at its worst these days? We expect that to change in a little over two weeks, though: Schools are expected to open\u2026","rel":"","context":"In &quot;What We're Tracking Today&quot;","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":574163,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/09\/01\/what-were-tracking-on-1-september-2020\/","url_meta":{"origin":574071,"position":5},"title":"What we\u2019re tracking on 1 September 2020","author":"enterpriseam admin","date":"1 September 2020","format":false,"excerpt":"Welcome to September, ladies and gentlemen, and with it the promise of (slightly) cooler days, a return to school for kids of all ages and the start to 2021 budget planning season. 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