{"id":600543,"date":"2019-02-03T04:01:03","date_gmt":"2019-02-03T04:01:03","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2019\/02\/03\/what-were-tracking-on-3-february-2019\/"},"modified":"2019-02-03T04:01:03","modified_gmt":"2019-02-03T04:01:03","slug":"what-were-tracking-on-3-february-2019","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2019\/02\/03\/what-were-tracking-on-3-february-2019\/","title":{"rendered":"What we\u2019re tracking on 3 February 2019"},"content":{"rendered":"<p><b>** Our 2019 Enterprise CEO Poll kicks off this morning.<\/b> We\u2019ll have 12 top executives speaking over the course of this week in industries ranging from financial services to health, education, construction, energy and law. We are running the interviews all week long in the place of our industry news section, which will return next week.<\/p>\n<p><b>Egypt has been doing well in 2018 relative to its regional peers<\/b>, but much more needs to be done. CEOs are looking at the macro challenges in particular, paying considerable attention to inflation, interest rates and foreign direct investment. With many seeing further subsidy cuts this year and inflation remaining a challenge, many are not as optimistic for interest rate cuts this year. Nonetheless, the CEOs see a number of sectors growing, particularly food and consumer goods, while expressing optimism for the tourism sector. And yes, all are giving raises to their teams this year.<\/p>\n<p><b>The format:<\/b> Each CEO answered roughly the same set of questions, tailored only for their industry. The Q&A interviews have been condensed and edited for clarity and are presented in \u201cas told to\u201d format \u2014 that\u2019s journalism speak for \u201cin their own words.\u201d<\/p>\n<p>Today\u2019s participants are:<\/p>\n<ul>\n<li><b>Osama Bishai<\/b>, chief executive officer, Orascom Construction<\/li>\n<li><b>Hend El Sherbini<\/b>, chief executive officer, Integrated Diagnostics Holdings<\/li>\n<\/ul>\n<p><b>The 2019 Enterprise CEO Poll begins after Egypt in the News<\/b>, below.<\/p>\n<hr class=\"grey-line\">\n<p><b>Politics is going to drive the conversation on Egypt this week<\/b> as a group of MPs associated with the largest, pro-administration bloc in the House looks set to introduce legislation that could amend the constitution. Up for discussion: Extending presidential terms to six years and bringing back the old upper house of parliament. We have chapter and verse in this morning\u2019s Speed Round, below.<\/p>\n<p><b>Next tranche of IMF loan coming soon?<\/b> The IMF\u2019s executive board <a href=\"https:\/\/www.imf.org\/external\/NP\/SEC\/bc\/eng\/index.aspx?sort=country&year=\">will meet tomorrow<\/a> to decide on the fifth USD 2 bn tranche of Egypt\u2019s USD 12 bn extended fund facility.<\/p>\n<p><b>The new EGX30 Capped Index debuts this morning <\/b>alongside the rebalanced EGX30. Again, we have more in this morning\u2019s Speed Round, including the list of who is off the index and who is on.<\/p>\n<p><b>Stocks are starting February on a high note: <\/b>After <a href=\"https:\/\/enterprise.press\/stories\/2019\/01\/06\/egx30-falls-13-2-in-2018-amid-emerging-markets-sell-off\/\">plunging more than 13%<\/a> last year amid the Emerging Markets Zombie Apocalypse, the EGX30 gained nearly 8.4% last month.<\/p>\n<p>Also this morning:<\/p>\n<ul>\n<li><b>German Economy Minister Peter Altmaier is in town<\/b> and looks likely to meet with President Abdel Fattah El Sisi. A heads-up from the wires suggests Altmaier will sign unspecified \u201ceconomic and energy policy agreements.\u201d<\/li>\n<li><b>Al Tayeb, Pope Francis to meet in Abu Dhabi: <\/b>Al Azhar Grand Imam Ahmed Al Tayeb is in Abu Dhabi today for an interfaith summit with Pope Francis, reports <a href=\"https:\/\/www.almasryalyoum.com\/news\/details\/1366438\">Al Masry Al Youm<\/a>.<\/li>\n<\/ul>\n<hr class=\"grey-line\">\n<p><b>Goldman Sachs is withholding mns due to be paid to former CEO Lloyd Blankfein<\/b> as the 1MDB scandal bites. The investment bank is holding off on paying three top executives pending investigations in Malaysia into Goldman\u2019s alleged involvement in corruption related to the state investment fund, <a href=\"https:\/\/www.ft.com\/content\/1e4c028a-266b-11e9-8ce6-5db4543da632\">the Financial Times reports<\/a>. <a href=\"https:\/\/www.reuters.com\/article\/us-goldman-sachs-pay\/goldman-sachs-says-1mdb-scandal-could-hit-pay-for-top-executives-idUSKCN1PQ5WU\">Reuters also had the story<\/a>.<\/p>\n<p><b>The US Fed\u2019s move to leave interest rates on hold is the beginning of a policy U-turn <\/b>that should direct our focus to market concerns, <a href=\"https:\/\/www.ft.com\/content\/fb3b78ec-2607-11e9-b329-c7e6ceb5ffdf\">Michael Mackenzie writes for the Financial Times<\/a>. It is \u201chardly a shock\u201d that the Fed changed its direction from signaling more rate hikes to \u201clistening to markets\u201d as the world economy slows and the US economy shows signs of weakness, Mackenzie says, noting that \u201cdetecting signs of trouble before they hurt the broader economy is exactly what central banks should do.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"<p>** Our 2019 Enterprise CEO Poll kicks off this morning. We\u2019ll have 12 top executives speaking over the course of this week in industries ranging from financial services to health, education, construction, energy and law. We are running the interviews all week long in the place of our industry news section, which will return next [&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":[68,611,72,7087,260,127,74],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-600543","post","type-post","status-publish","format-standard","hentry","category-what-were-tracking-today","tag-egx","tag-enterprise-poll","tag-enterpriseam","tag-finance","tag-goldman-sachs","tag-politics","tag-what-were-tracking-today","wpautop","entry"],"acf":{"mongo_id":"da51c473-c172-433d-9592-aec03a7a44b8","is_powered_by":true,"story_type":"1","photo_url":"","photo_position":"above","related_issue":[600541],"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 3 February 2019 - 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\/2019\/02\/03\/what-were-tracking-on-3-february-2019\/\" \/>\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 3 February 2019\" \/>\n<meta property=\"og:description\" content=\"** Our 2019 Enterprise CEO Poll kicks off this morning. 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We have chapter and verse in this morning\u2019s Speed Round, below. We also have a\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":591510,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/12\/09\/what-were-tracking-on-9-december-2019\/","url_meta":{"origin":600543,"position":1},"title":"What we\u2019re tracking on 9 December 2019","author":"enterpriseam admin","date":"9 December 2019","format":false,"excerpt":"The House of Representatives had a busy first day back in session yesterday, with a pile of legislation receiving general assembly and committee-level approval. We have the full roundup in this morning\u2019s Speed Round, below. Today could be just as eventful, as proposed amendments to the 2005 Income Tax Act\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":598209,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/05\/19\/enterprise-poll-central-bank-of-egypt-to-maintain-rates-despite-drop-in-april-inflation\/","url_meta":{"origin":600543,"position":2},"title":"Enterprise poll: Central Bank of Egypt to maintain rates despite drop in April inflation","author":"enterpriseam admin","date":"19 May 2019","format":false,"excerpt":"SURVEY- CBE to leave key interest rates on hold this Thursday: The Central Bank of Egypt (CBE) will likely leave key interest rates on hold when its Monetary Policy Committee meets this Thursday, according to all 12 economists polled by Enterprise. Respondents cited the likely impact on inflation of upcoming\u2026","rel":"","context":"In &quot;Speed Round&quot;","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2018\/11\/1115.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":591872,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/12\/19\/what-were-tracking-on-19-december-2019\/","url_meta":{"origin":600543,"position":3},"title":"What we\u2019re tracking on 19 December 2019","author":"enterpriseam admin","date":"19 December 2019","format":false,"excerpt":"A little bit of good news before we get underway: The first charter flight to Sharm El Sheikh from the UK is due to land today after a four-year hiatus, Al Mal reports, citing unnamed sources. The UK lifted its flights to the resort destination in October. Oh, and Egypt\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":542990,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/01\/30\/this-morning-our-analyst-poll-rings-in-interest-rate-week-afcon-quarter-final-tonight\/","url_meta":{"origin":600543,"position":4},"title":"THIS MORNING: Our analyst poll rings in interest rate week + Afcon quarter-final tonight","author":"enterpriseam admin","date":"30 January 2022","format":false,"excerpt":"Good morning, friends, and welcome to the last workweek of January. Hard to believe the year is 8.2% finished as of this fine, chilly morning. It\u2019s interest rate week, which means the Central Bank of Egypt will hold on Thursday its first policy meeting of 2022. The consensus in our\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":598637,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/05\/30\/what-were-tracking-on-30-may-2019\/","url_meta":{"origin":600543,"position":5},"title":"What we\u2019re tracking on 30 May 2019","author":"enterpriseam admin","date":"30 May 2019","format":false,"excerpt":"Good morning, friends, and welcome to the last day of the week \u2014 and final Thursday of Ramadan. We\u2019re all getting a little antsy in anticipation of the long Eid El Fitr weekend, which could start on Tuesday or Wednesday, depending on how hopeful you are.In the meantime, a few\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":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/600543","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=600543"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/600543\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/600541"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=600543"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=600543"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=600543"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=600543"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=600543"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}