{"id":587992,"date":"2023-06-05T00:00:00","date_gmt":"2023-06-05T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2023\/06\/05\/its-pmi-day\/"},"modified":"2023-06-05T00:00:00","modified_gmt":"2023-06-05T00:00:00","slug":"its-pmi-day","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2023\/06\/05\/its-pmi-day\/","title":{"rendered":"It\u2019s PMI day"},"content":{"rendered":"<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span><\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span><a id=\"wwtt1\"><\/a><\/span><span style=\"font-weight:700\">Monday is PMI day here in Om El Donia:<\/span><span style=\"\"> S&P Global will release May\u2019s PMI figures soon after we hit \u2018send\u2019 on this <\/span><span>morning\u2019s newsletter. Egypt\u2019s non-oil private sector <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/9b47e2ce-e7e2-4382-9016-464a01b8d69c\" style=\"\">contracted at a slower pace in April<\/a><\/span><span style=\"font-weight:400;\"> as the stable exchange rate helped to alleviate inflationary pressures.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">ALSO HAPPENING TODAY- <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"\"><a id=\"wwtt3\"><\/a><\/span><span style=\"font-weight:700\"> The <\/span><span style=\"-webkit-text-decoration-skip:none;font-weight:700;text-decoration-skip-ink:none\"><a href=\"https:\/\/egypt.innoxera.co\/\" style=\"\">Innoxera EdTech summit<\/a><\/span><span style=\"font-weight:700\">:<\/span><span style=\"\"> Sponsored by Classera, the event will bring <\/span><span>together experts, innovators, and entrepreneurs in the field of technology and education to discuss innovations in smart learning, with a specific focus on AI. The event will take place at the Royal Maxim Palace Kempinski Hotel in New Cairo. You can register <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/egypt.innoxera.co\/register\/\" style=\"\">here<\/a><\/span><span style=\"font-weight:400;\">.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"\"><a id=\"wwtt2\"><\/a><\/span><span style=\"font-weight:700\"> FY 2023-24 development plan Senate vote:<\/span><span style=\"\"> The Senate will hold a final vote on the F<\/span><span style=\"\">Y <\/span><span>2023-2024 socioeconomic development plan today. Senators began discussing the plan yesterday, during which Planning Minister Hala El Said gave a statement and a run-down of the key aspects of the plan for the coming fiscal year. The Senate Financial and Economic Affairs Committee <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/5599cccd-54d2-4e0f-b43e-1f9807367a4c\" style=\"\">approved the plan<\/a><\/span><span style=\"font-weight:400;\"> last week.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">At the committees:<\/span><\/p>\n<ul>\n<li><span style=\"\">The <\/span><span style=\"font-weight:700\">Foreign Affairs Committee<\/span><span style=\"\"> will open the file on <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/d7b8e96b-ec30-4ce0-9344-4f250f112875\" style=\"\">Egypt's membership of the BRICS<\/a><\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/d7b8e96b-ec30-4ce0-9344-4f250f112875\" style=\"\">group<\/a><\/span><span style=\"font-weight:400;\">;<\/span><\/li>\n<li><span style=\"\">The <\/span><span style=\"font-weight:700\">Industrial Committee<\/span><span style=\"\"> will review policies designed to generate <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/158188ff-65a9-4146-adc1-5f53c1a3f6e5\" style=\"\">USD 100 bn from<\/a><\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/158188ff-65a9-4146-adc1-5f53c1a3f6e5\" style=\"\">exports<\/a><\/span><span style=\"font-weight:400;\"> per year by the middle of the decade;<\/span><\/li>\n<li><span style=\"\">The <\/span><span style=\"font-weight:700\">Energy Committee<\/span><span style=\"\"> will look into the performance of the Egyptian General <\/span><span style=\"font-weight:400;\">Petroleum Corporation (EGPC);<\/span><\/li>\n<li><span style=\"\">The <\/span><span style=\"font-weight:700\">Tourism Committee<\/span><span style=\"\"> will discuss measures necessary to put the old city of Rosetta <\/span><span style=\"font-weight:400;\">back on Egypt's tourism map.<\/span><\/li>\n<\/ul>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"\"><a id=\"wwtt4\"><\/a><\/span><span style=\"font-weight:700\"> Hamas and Islamic Jihad in Cairo for peace talks: <\/span><span style=\"\">High-level delegations from the Hamas <\/span><span>and Islamic Jihad movements are in Cairo today to discuss the recent Egypt-brokered ceasefire with Israel and developments in the occupied territories, <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/bit.ly\/3WNV1o4\" style=\"\">Al Arabiya<\/a><\/span><span> reported yesterday. Israel\u2019s assassination of senior Islamic Jihad commanders sparked five days of violence in Gaza last month, forcing Egypt to step in and <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/0c4533be-64ad-4d66-a10d-4b26b69f0d8e\" style=\"\">mediate a ceasefire<\/a><\/span><span> between the two sides.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"\"><a id=\"wwtt5\"><\/a> <\/span><span style=\"font-weight:700\">Apple is set to debut its first AR\/VR headset + new Macs and software upgrades today: <\/span><span>Apple\u2019s highly anticipated annual Worldwide Developer Conference (<\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/developer.apple.com\/wwdc23\/\" style=\"\">WWDC<\/a><\/span><span>) kicks off today at 8pm Cairo time,<\/span><span>bringing<\/span><span> the company\u2019s first new product category since the Apple Watch \u2014 a new mixed reality headset that\u2019s expected to retail for USD 3k, <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2023-06-02\/apple-wwdc-2023-mixed-reality-headset-ios-17-and-other-products-to-expect#:~:text=The%20headset%20will%20feature%20many,watching%20portal%20are%20also%20coming\" style=\"\">Bloomberg<\/a><\/span><span style=\"font-weight:400;\"> reports. The device maker is also set to introduce a slew of new Mac models, including a 15-inch MacBook Air, a new Mac Studio line, and several software upgrades for its Apple Watch, iOS 17, iPadOS 17, and macOS 17.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">The event is getting coverage in<\/span><span>: <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/techcrunch.com\/2023\/06\/02\/no-one-has-done-ar-or-vr-well-can-apple\/\" style=\"\">TechCrunch<\/a><\/span><span>| <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.cnet.com\/tech\/mobile\/wwdc-is-monday-ios-17-apples-vr-headset-new-macs-and-everything-else-we-expect\/\" style=\"\">CNET<\/a><\/span><span>| <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.reuters.com\/technology\/challenge-meta-apple-expected-unveil-mixed-reality-headset-2023-06-02\/\" style=\"\">Reuters<\/a><\/span><span> | <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.theverge.com\/23728368\/wwdc-2023-date-time-live-stream-watch-how-to-rumors\" style=\"\">The Verge<\/a><\/span><span style=\"font-weight:400;\">.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">HAPPENING THIS WEEK-<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"-webkit-text-decoration-skip:none;font-weight:700;text-decoration-skip-ink:none\"><a href=\"https:\/\/africahealthexcon.com\/\" style=\"\">Africa Health Excon<\/a><\/span><span style=\"font-weight:700\"> starts Wednesday:<\/span><span style=\"\"> The four-day health conference will take place at the <\/span><span>Egypt International Exhibition Center on Wednesday. Check out the agenda <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/icomgroup.eventsair.com\/QuickEventWebsitePortal\/africa-health-excon-23\/program\/Agenda\" style=\"\">here<\/a><\/span><span style=\"font-weight:400;\">.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2023\/6\/173.jpg?ssl=1\"\/><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">THE BIG STORIES ABROAD-<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">There\u2019s no single story dominating the global front pages this morning:<\/span><\/p>\n<ul>\n<li><span style=\"font-weight:700\">Oil supply cut:<\/span><span> Saudi Arabia\u2019s decision yesterday to voluntarily cut oil supply is everywhere in the financial press \u2014 more on this in Planet Finance, below: <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2023-06-04\/latest-oil-market-news-and-analysis-for-june-5?srnd=premium-middle-east\" style=\"\">Bloomberg<\/a><\/span><span> | <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.ft.com\/content\/05d3a7b5-b9c9-43ec-ac53-f8b7b51cbbe2\" style=\"\">Financial Times<\/a><\/span><span> | <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.wsj.com\/articles\/saudi-arabia-some-opec-members-clash-over-oil-production-quotas-87f43f0c\" style=\"\">Wall Street Journal<\/a><\/span><span> | <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.cnbc.com\/2023\/06\/04\/opec-sticks-to-2023-oil-production-targets-as-saudi-arabia-announces-further-voluntary-cuts.html\" style=\"\">CNBC<\/a><\/span><span style=\"font-weight:400;\">.<\/span><\/li>\n<li><span style=\"font-weight:700\">Tensions in East Asia:<\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.reuters.com\/world\/asia-pacific\/chinese-warship-passed-unsafe-manner-near-us-destroyer-taiwan-strait-us-2023-06-04\/\" style=\"\">Reuters<\/a><\/span><span style=\"font-weight:400;\"> covers the rising US-China tensions in the South China Sea.<\/span><\/li>\n<li><span style=\"font-weight:700\">US politics:<\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/apnews.com\/article\/florida-transgender-health-care-adults-e7ae55eec634923e6593a4c0685969b2\" style=\"\">The Associated Press<\/a><\/span><span> and the <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.nytimes.com\/2023\/06\/04\/us\/state-legislatures-opposite-agendas.html\" style=\"\">New York Times<\/a><\/span><span> both have stories on the impact of politically polarized state legislators as the 2024 presidential race begins to heat up.<\/span><\/li>\n<\/ul>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">ICYMI-<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">Missed this week\u2019s Inside Industry? <\/span><span style=\"\">In our weekly vertical exploring all things industry and<\/span><span> manufacturing, we looked at what happened when a <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/7a265bb5-cf07-4f72-9825-d4be3dd8e71f\" style=\"\">delegation from the African Association of Automotive Manufacturers<\/a><\/span><span style=\"font-weight:400;\"> visited East Port Said\u2019s integrated industrial zone, and how the association sees Egypt taking the lead in Africa\u2019s automotive market in the next decade.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\"><\/p>\n<div class=\"row\">\n<div class=\"col-md-12 subscribe-box-panel\">\n<div class=\"\">\n<div class=\"title\">\n<h4 class=\"fw-lighter mb-10\">\n          Get <b style=\"font-weight: 700\">Enterprise<\/b> daily<br \/>\n        <\/h4>\n<\/p><\/div>\n<p class=\"mb-10\">The roundup of news and trends that move your markets and shape corporate agendas delivered straight to your inbox.<\/p>\n<p>     <a href=\"egypt\/en\/user\/NewsLetters\" type=\"button \" class=\"btn-green px-3 d-flex align-items-center\">Subscribe here<\/a>\n    <\/div>\n<\/p><\/div>\n<\/div>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">CIRCLE YOUR CALENDAR-<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">IT\u2019S A BRAND NEW MONTH:<\/span><span style=\"\"> Here are some economic indicators to look out for over the <\/span><span style=\"font-weight:400;\">coming weeks:<\/span><\/p>\n<ul>\n<li><span style=\"font-weight:700\">Foreign reserves:<\/span><span style=\"font-weight:400;\"> The central bank will publish foreign reserves figures for June this week.<\/span><\/li>\n<li><span style=\"font-weight:700\">Inflation:<\/span><span style=\"font-weight:400;\"> Capmas and the central bank should be out with May\u2019s inflation data on 8 June.<\/span><\/li>\n<li><span style=\"font-weight:700\">Interest rates:<\/span><span style=\"font-weight:400;\"> The central bank will meet to review interest rates on 22 June.<\/span><\/li>\n<\/ul>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;font-weight:700;\"><a href=\"https:\/\/enterprise.press\/am-edition\/#calendar\" style=\"\">Check out our full calendar on the web<\/a><\/span><span style=\"font-weight:400;\"> for a comprehensive listing of upcoming news events, national holidays and news triggers.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/enterprise.press\/wp-content\/uploads\/2022\/10\/CIRA-Blackboard-Banner-B-1600.jpg\"\/><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">*** It\u2019s Blackboard day:<\/span><span style=\"font-weight:400;\"> We have our weekly look at the business of education in Egypt, from pre-K through the highest reaches of higher ed. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">In today\u2019s issue:<\/span><span style=\"\"> With rising inflation and other macroeconomic headwinds, private sector<\/span><span> education players are finding it increasingly difficult to finance investment and expansion plans. We look at how alternative options \u2014 including leaning into private-public partnerships, and tapping debt instruments \u2014 could help drive new investments in the sector. <\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Egypt\u2019s non-oil private sector contracted for the 29th consecutive month in April<\/p>\n","protected":false},"author":1,"featured_media":587993,"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":[104,72,185,74],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-587992","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-what-were-tracking-today","tag-economy","tag-enterpriseam","tag-pmi","tag-what-were-tracking-today","wpautop","entry"],"acf":{"mongo_id":"ff1aaa10-9b0e-4cd4-b02a-18a294ace65b","order":"0","is_powered_by":false,"story_type":"4","photo_url":"https:\/\/ent.news\/2023\/6\/177.jpg","photo_position":"above","homepage_title":"","full_issue_title":"It\u2019s PMI day in Egypt","related_issue":[587990],"teaser":"Egypt\u2019s non-oil private sector contracted for the 29th consecutive month in April","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2023\/6\/.9b494961-0eb6-4aa0-8a7a-00424583e140.mp3"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - 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