{"id":628405,"date":"2018-05-03T04:07:56","date_gmt":"2018-05-03T04:07:56","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2018\/05\/03\/what-were-tracking-on-03-may-2018\/"},"modified":"2018-05-03T04:07:56","modified_gmt":"2018-05-03T04:07:56","slug":"what-were-tracking-on-03-may-2018","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2018\/05\/03\/what-were-tracking-on-03-may-2018\/","title":{"rendered":"What we\u2019re tracking on 03 May 2018"},"content":{"rendered":"<p><strong>It\u2019s PMI Day:<\/strong> The Emirates NBD Egypt PMI reading for April comes out this morning. <a href=\"https:\/\/www.markiteconomics.com\/Public\/Release\/PressReleases?language=en\">You\u2019ll find it here<\/a> once it lands. <a href=\"https:\/\/enterprise.press\/stories\/2018\/04\/04\/pmi-dips-unexpectedly-in-march\/\">March\u2019s reading<\/a> dipped unexpectedly, coming in at 49.2.<\/p>\n<p><strong>The Central Bank of Egypt should release foreign reserves figures<\/strong> some time between today and early next week.<\/p>\n<p><strong>Inflation numbers should come out on or about 10 May<\/strong>. This month is all the more significant as the central bank\u2019s Monetary Policy Committee will meet on 17 May to set interest rates.<\/p>\n<p><strong>Did you plough cash into high-yielding CDs after the devaluation? It\u2019s payment time: <\/strong>Banks that have issued high-yielding, 20%+ interest certificates of deposit following the November 2016 devaluation began paying on Wednesday, <a href=\"https:\/\/dbonfrdgauzmg.cloudfront.net\/news\/details\/1287005\">Al Masry Al Youm reports<\/a>. Officials from the National Bank of Egypt and Banque Misr \u2014 which together hold 45% of the EGP 550 bn in CDs out there \u2014 tell the newspaper that they are ready to meet payments. Banks stopped issuing the 20% CDs back in February.<\/p>\n<p><strong>Is Egypt seriously considering Trump\u2019s \u201cArab force\u201d in Syria?<\/strong> Setting up an an Arab military force that would cover America\u2019s withdrawal after defeat of the Daeshbags in Syria is under consideration among the nations invited to partake in the initiative, Foreign Minister Sameh Shoukry reportedly said at a workshop on Wednesday, <a href=\"http:\/\/www.shorouknews.com\/news\/view.aspx?cdate=02052018&id=182dc15a-d9c0-422a-8ef0-c8f0c57d5ff8\">Al Shorouk reports<\/a>. He made sure to note that the initiative \u2014 <a href=\"https:\/\/enterprise.press\/stories\/2018\/04\/17\/trump-administration-wants-egypt-gcc-to-send-troops-to-syria-to-cover-us-withdrawal\/\">proposed by US President Donald Trump last month<\/a> \u2014 would need significant preparation and consideration before any decision is made. Trump\u2019s new national security advisor called acting intelligence chief Abbas Kamel last month \u201cto see if Cairo would contribute to the effort.\u201d<\/p>\n<p>Further afield this morning:<\/p>\n<p><strong>The US Federal Reserve left interest rates unchanged yesterday<\/strong> and seems on track to raise rates next in June as it said that \u201ca recent rise in inflation to near the U.S. central bank\u2019s target\u201d looks sustainable, <a href=\"https:\/\/www.reuters.com\/article\/us-usa-fed\/fed-keeps-interest-rates-unchanged-says-inflation-near-target-idUSKBN1I32K3\">Reuters reports<\/a>.<\/p>\n<p><strong>Required reading for anyone planning a merger or acquisition:<\/strong> <a href=\"https:\/\/www.wsj.com\/articles\/a-megadeal-joined-sharpie-markers-and-crock-pots-what-could-go-wrong-a-lot-1525280516\">A megadeal joined Sharpie markers and Crock-Pots. What could go wrong? A lot.<\/a> The Wall Street Journal presents a cautionary tale of how a USD 15 bn acquisition that brought together Elmer\u2019s glue, Sharpies, Graco strollers, Rawlings baseball gloves and Bicycle playing cards became a \u201ccase study of the ways a megadeal can go bad.\u201d<\/p>\n<p><strong>Required reading for anyone tempted to diss sell-side analysts:<\/strong> Elon Musk dismissed an analyst\u2019s questions as \u201cso dry, they\u2019re killing me,\u201d then promptly cut off another who was asking about a capital requirement. Investors were unimpressed, Reuters writes, \u201cgiving a rare rebuke\u201d to the \u201ciconoclastic\u201d Tesla CEO by \u201csending shared down 5% despite promises that production of the troubled Model 3 electric car was on track,\u201d <a href=\"https:\/\/www.reuters.com\/article\/us-tesla-results\/the-price-of-cutting-off-analysts-for-tesla-its-2-billion-idUSKBN1I32UC\">Reuters reports<\/a>.<\/p>\n<p><strong>Required reading for all Egyptians:<\/strong> <a href=\"https:\/\/www.ft.com\/content\/b9bac89a-4a49-11e8-8ee8-cae73aab7ccb\">How Cape Town beat the drought<\/a> in the Financial Times. The pitch: \u201cThe city was on the verge of becoming the first major urban centre to run out of water but has averted the crisis. But for how long, and at what cost, in a divided country?\u201d<\/p>\n<p><strong>Goldman Sachs promises it\u2019s going to be very, very careful with its foray into consumer lending<\/strong> as CEO Lloyd Blankfein tried to \u201cease concerns among shareholders\u201d that the firm \u201cmay be ploughin into consumer credit at the wrong point in the cycle,\u201d the <a href=\"https:\/\/www.ft.com\/content\/d5531ba6-4e23-11e8-a7a9-37318e776bab\">FT reports<\/a>.<\/p>\n<p><strong>Bloomberg wants you to pay to read its redesigned website. <\/strong>Its editor-in-chief, former Economist boss John Micklethwait, <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2018-05-02\/editor-in-chief-john-mickelthwait-on-new-bloomberg-redesign\">explains why<\/a>. We don\u2019t like the redesign, but we suppose we\u2019ll be shelling out for the subscription.<\/p>\n<p><a class=\"content-anchor\" id=\"tldr-story-08\"><\/a> <strong>Simon Kucher & Partners opens office in Cairo: <\/strong>Our friends <a href=\"https:\/\/www.linkedin.com\/in\/martin-janzen-62832a8\/\">Martin Janzen<\/a> and <a href=\"https:\/\/www.linkedin.com\/in\/sara-shenouda-5296b847\/\">Sara Shenouda<\/a> formally opened yesterday the Cairo office of Simon Kucher & Partners, the global consultancy that focuses on what it calls \u201cTopLine Power\u201d \u2014 helping clients profitably grow their revenues. We\u2019ve intersected with Sara and Martin primary on the banking and finance beat at our parent company, Inktank Communications, and have found them impressive. We recently enjoyed meeting their CEO, Georg Tacke, in Dubai, and we\u2019ll be introducing you folks to him in an interview soon. In the meantime, <a href=\"https:\/\/www.simon-kucher.com\/en\/blog\">Simon Kucher\u2019s blog<\/a> is worth checking out. It\u2019s a too-rare example of a company doing well at sharing knowledge as a teaser to prompt you to engage with them. Joining Martin and Sara at the Cairo office are Aly Khattab, Youssef Yakout and Sherine Soliman.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>It\u2019s PMI Day: The Emirates NBD Egypt PMI reading for April comes out this morning. You\u2019ll find it here once it lands. March\u2019s reading dipped unexpectedly, coming in at 49.2. The Central Bank of Egypt should release foreign reserves figures some time between today and early next week. Inflation numbers should come out on or [&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":[72,74],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-628405","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":"b1584d70-8ac2-4487-87c5-cd0edcade473","order":"0","is_powered_by":true,"story_type":"1","photo_url":"","photo_position":"above","related_issue":[628403],"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 03 May 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\/05\/03\/what-were-tracking-on-03-may-2018\/\" \/>\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 03 May 2018\" \/>\n<meta property=\"og:description\" content=\"It\u2019s PMI Day: The Emirates NBD Egypt PMI reading for April comes out this morning. You\u2019ll find it here once it lands. March\u2019s reading dipped unexpectedly, coming in at 49.2. The Central Bank of Egypt should release foreign reserves figures some time between today and early next week. Inflation numbers should come out on or [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2018\/05\/03\/what-were-tracking-on-03-may-2018\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2018-05-03T04:07:56+00:00\" \/>\n<meta name=\"author\" content=\"enterpriseam admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"enterpriseam admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"4 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2018\/05\/03\/what-were-tracking-on-03-may-2018\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2018\/05\/03\/what-were-tracking-on-03-may-2018\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"What we\u2019re tracking on 03 May 2018\",\"datePublished\":\"2018-05-03T04:07:56+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2018\/05\/03\/what-were-tracking-on-03-may-2018\/\"},\"wordCount\":719,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"keywords\":[\"EnterpriseAM\",\"What We're Tracking Today\"],\"articleSection\":[\"What We're Tracking Today\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2018\/05\/03\/what-were-tracking-on-03-may-2018\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/2018\/05\/03\/what-were-tracking-on-03-may-2018\/\",\"name\":\"What we\u2019re tracking on 03 May 2018 - EnterpriseAM Egypt\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#website\"},\"datePublished\":\"2018-05-03T04:07:56+00:00\",\"breadcrumb\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2018\/05\/03\/what-were-tracking-on-03-may-2018\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/enterpriseam.com\/egypt\/2018\/05\/03\/what-were-tracking-on-03-may-2018\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2018\/05\/03\/what-were-tracking-on-03-may-2018\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/enterpriseam.com\/egypt\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"What we\u2019re tracking on 03 May 2018\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#website\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/\",\"name\":\"EnterpriseAM\",\"description\":\"The State of the Nation\",\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/enterpriseam.com\/egypt\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\",\"name\":\"EnterpriseAM\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/ent.news\/internal\/240894.svg\",\"contentUrl\":\"https:\/\/ent.news\/internal\/240894.svg\",\"caption\":\"EnterpriseAM\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/logo\/image\/\"}},{\"@type\":\"Person\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\",\"name\":\"enterpriseam admin\",\"sameAs\":[\"http:\/\/enterpriseam.testing.projectsarea.com\"],\"url\":\"https:\/\/enterpriseam.com\/egypt\/author\/enterpriseam\/\"}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"What we\u2019re tracking on 03 May 2018 - EnterpriseAM Egypt","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/enterpriseam.com\/egypt\/2018\/05\/03\/what-were-tracking-on-03-may-2018\/","og_locale":"en_US","og_type":"article","og_title":"What we\u2019re tracking on 03 May 2018","og_description":"It\u2019s PMI Day: The Emirates NBD Egypt PMI reading for April comes out this morning. 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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":638302,"url":"https:\/\/enterpriseam.com\/egypt\/2017\/10\/02\/what-were-tracking-this-week-109\/","url_meta":{"origin":628405,"position":1},"title":"What we\u2019re tracking this week","author":"enterpriseam admin","date":"2 October 2017","format":false,"excerpt":"The Emirates NBD PMI reading for Egypt comes out tomorrow.Prime Minister Ismail Sherif declared Thursday a public holiday for government offices and state-owned companies, as the 6 October holiday falls on a Friday this year. There\u2019s been no word from the Central Bank of Egypt on whether banks take the\u2026","rel":"","context":"In &quot;What We\u2019re Tracking This Week&quot;","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":640795,"url":"https:\/\/enterpriseam.com\/egypt\/2017\/09\/05\/what-were-tracking-this-week-124\/","url_meta":{"origin":628405,"position":2},"title":"What we\u2019re tracking this week","author":"enterpriseam admin","date":"5 September 2017","format":false,"excerpt":"The Emirates NBD PMI reading for August will be released tomorrow. You\u2019ll be able to find it here.","rel":"","context":"In &quot;What We\u2019re Tracking This Week&quot;","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":580538,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/01\/04\/this-evening-new-25-certificates-from-banque-misr-nbe-pmi-contraction-softened-in-december-pachin-gets-another-suitor\/","url_meta":{"origin":628405,"position":3},"title":"THIS EVENING: New 25% certificates from Banque Misr, NBE + PMI contraction softened in December + Pachin gets another suitor","author":"enterpriseam admin","date":"4 January 2023","format":false,"excerpt":"Good afternoon, friends, and welcome to what has shaped up to be a brisk news day, suggesting the new year lull is good and well behind us.PSA- Private sector + EGX will be off on Sunday: The private sector will be off next Sunday, 8 January in observance of Coptic\u2026","rel":"","context":"In &quot;WHAT WE\u2019RE TRACKING TONIGHT&quot;","block_context":{"text":"WHAT WE\u2019RE TRACKING TONIGHT","link":"https:\/\/enterpriseam.com\/egypt\/category\/what-were-tracking-tonight\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2023\/1\/597.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":647129,"url":"https:\/\/enterpriseam.com\/egypt\/2017\/05\/03\/what-were-tracking-on-03-may-2017\/","url_meta":{"origin":628405,"position":4},"title":"What we\u2019re tracking on 03 May 2017","author":"enterpriseam admin","date":"3 May 2017","format":false,"excerpt":"We got a step closer to a new Investment Act yesterday (more on that in Speed Round, below) after a late afternoon session of the House of Representatives approved almost all of the bill\u2019s 92 articles. A final vote on the floor of the House could take place today if\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":580070,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/12\/05\/one-sleep-until-the-enterprise-climatex-forum\/","url_meta":{"origin":628405,"position":5},"title":"One sleep until the Enterprise ClimateX Forum","author":"enterpriseam admin","date":"5 December 2022","format":false,"excerpt":"Good afternoon, wonderful people. It\u2019s shaping up to be a brisk news day, giving us plenty to sink our teeth into this afternoon. We\u2019re looking forward to meeting many of you tomorrow at 8am at the Grand Egyptian Museum for our inaugural Enterprise Climate X Forum.If you\u2019re attending: Please plan\u2026","rel":"","context":"In &quot;WHAT WE\u2019RE TRACKING TONIGHT&quot;","block_context":{"text":"WHAT WE\u2019RE TRACKING TONIGHT","link":"https:\/\/enterpriseam.com\/egypt\/category\/what-were-tracking-tonight\/"},"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\/628405","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=628405"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/628405\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/628403"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=628405"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=628405"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=628405"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=628405"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=628405"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}