{"id":626993,"date":"2018-07-17T03:48:03","date_gmt":"2018-07-17T03:48:03","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2018\/07\/17\/what-were-tracking-on-16-july-2018-2\/"},"modified":"2018-07-17T03:48:03","modified_gmt":"2018-07-17T03:48:03","slug":"what-were-tracking-on-16-july-2018-2","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2018\/07\/17\/what-were-tracking-on-16-july-2018-2\/","title":{"rendered":"What we\u2019re tracking on 16 July 2018"},"content":{"rendered":"

It\u2019s the accidental legislation issue again here, as the House of Representatives passed a series of key laws yesterday<\/strong> \u2014 some important, others controversial. They gave their approval on a law setting up Egypt\u2019s first sovereign wealth fund and the Press and Media Acts. Expect future legislation issues this week as the House rushes to complete the laws on its plate in the current legislative term, which could be extended to August. The laws have guided the conversation on Egypt, both in the local and foreign press yesterday. We have more on those laws in the Speed Round below.<\/p>\n

The House of Representatives has delayed discussions on the Madbouly Cabinet\u2019s policy program till next week<\/strong>, Rep. Mahmoud Sherif, who chairs the committee tasked with reviewing the program, told Ahram Gate<\/a>. Deliberations on the program were due to begin today. The committee has concluded its report, which gave a resounding approval for the program, and is recommending that a vote of confidence be given to the Madbouly Cabinet.<\/p>\n

Long-term bond yields start dropping along with the short-term treasuries:<\/strong> Egypt\u2019s long-term bond yields have begun to decline from their peak last week, following the drop witnessed in short-term bond yields this week. Yields on the 10-year bonds fell to 17.748% after peaking at 17.859% last week. Five-year yields were flat, rising marginally to 17.759% from 17.756% at the last sale, also on July 2, central bank data showed, according to Reuters<\/a>. Analysts figure<\/a> that last week\u2019s record high yields indicated that carry traders and portfolio investors have lost interest in Egypt\u2019s debt, in large part as a result of the wider emerging market sell-offs.<\/p>\n

EM zombie apocalypse not as bad as widely thought? <\/strong>The rising USD is not really impacting emerging economies\u2019 growth potential, Union Bancaire Priv\u00e9e\u2019s Mathieu N\u00e8gre writes for Forbes Middle East<\/a>. EM are still \u201cbenefiting from synchronised growth in the global economy, he argues, noting that the MSCI EM Index is down only 5% y-t-d, while World Index is up 3.5%. \u201cThat momentum provides a good opportunity to move back into this asset class,\u201d he argues.<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

It\u2019s the accidental legislation issue again here, as the House of Representatives passed a series of key laws yesterday \u2014 some important, others controversial. They gave their approval on a law setting up Egypt\u2019s first sovereign wealth fund and the Press and Media Acts. Expect future legislation issues this week as the House rushes to […]<\/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":[72,74],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-626993","post","type-post","status-publish","format-standard","hentry","category-what-were-tracking-today","tag-enterpriseam","tag-what-were-tracking-today","wpautop","entry"],"acf":{"mongo_id":"eed8522f-0be1-46a2-93aa-587190175eb2","order":"0","is_powered_by":true,"story_type":"1","photo_url":"","photo_position":"above","related_issue":[626991],"teaser":"","voice_url":""},"yoast_head":"\nWhat we\u2019re tracking on 16 July 2018 - 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\/2018\/07\/17\/what-were-tracking-on-16-july-2018-2\/\" \/>\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 16 July 2018\" \/>\n<meta property=\"og:description\" content=\"It\u2019s the accidental legislation issue again here, as the House of Representatives passed a series of key laws yesterday \u2014 some important, others controversial. 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The House of Representatives\u2019 Economic Committee expects to finalize its work on the Investment Act by mid-next week before sending the law over to a plenary session for a vote, committee member Medhat El Sherif tells Al\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":627805,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/06\/12\/house-of-representatives-preliminarily-approves-national-press-authority-bill\/","url_meta":{"origin":626993,"position":1},"title":"House of Representatives preliminarily approves National Press Authority bill","author":"enterpriseam admin","date":"12 June 2018","format":false,"excerpt":"LEGISLATION WATCH- The House of Representatives gave preliminary approval yesterday the National Press Authority bill and referred it to the Council of State (Maglis El Dawla) for review before it goes to a final vote, Youm7 reports. The legislation \u2014 one of the three bills born out of the process\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":649867,"url":"https:\/\/enterpriseam.com\/egypt\/2017\/03\/12\/what-were-tracking-this-week-196\/","url_meta":{"origin":626993,"position":2},"title":"What we\u2019re tracking this week","author":"enterpriseam admin","date":"12 March 2017","format":false,"excerpt":"LEGISLATION WATCH- March looks set to be a busy month for the House on the economic front, with legislators due to consider a basket of laws and amendments to existing legislation, including: The Contractor's Compensation Act will come up for a vote in a plenary session on Monday. The measure\u2026","rel":"","context":"In "ON THE HORIZON"","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":638488,"url":"https:\/\/enterpriseam.com\/egypt\/2017\/10\/08\/what-were-tracking-this-week-111\/","url_meta":{"origin":626993,"position":3},"title":"What we\u2019re tracking this week","author":"enterpriseam admin","date":"8 October 2017","format":false,"excerpt":"Finance Minister Amr El Garhy and Investment Minister Sahar Nasr are heading to Washington this week to attend the IMF and World Bank\u2019s fall meetings which begin tomorrow. Senior members of the Egyptian business community will also attend, and we expect there will be at least one high-profile investment-promotion event\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":647351,"url":"https:\/\/enterpriseam.com\/egypt\/2017\/05\/09\/what-were-tracking-this-week-173\/","url_meta":{"origin":626993,"position":4},"title":"What we\u2019re tracking this week","author":"enterpriseam admin","date":"9 May 2017","format":false,"excerpt":"Furniture expo Le March\u00e9 is set to begin on Thursday 11 May and run until 14 May.Prime Minister Sherif Ismail is reportedly heading to Britain on Wednesday along with a group of ministers for a two-day visit. Look for talks on investment and scrapping the remaining travel warnings on Egypt\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":637782,"url":"https:\/\/enterpriseam.com\/egypt\/2017\/11\/26\/what-were-tracking-this-week-105\/","url_meta":{"origin":626993,"position":5},"title":"What we\u2019re tracking this week","author":"enterpriseam admin","date":"26 November 2017","format":false,"excerpt":"It\u2019s a four-day workweek: The EGX and public sector are taking the day off this Thursday in observance of the Prophet Muhammad's birthday, which formally falls on Friday 1 December. 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