{"id":628453,"date":"2018-05-06T04:20:24","date_gmt":"2018-05-06T04:20:24","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2018\/05\/06\/what-were-tracking-on-06-may-2018\/"},"modified":"2018-05-06T04:20:24","modified_gmt":"2018-05-06T04:20:24","slug":"what-were-tracking-on-06-may-2018","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2018\/05\/06\/what-were-tracking-on-06-may-2018\/","title":{"rendered":"What we\u2019re tracking on 06 May 2018"},"content":{"rendered":"

<\/a> Is the<\/strong> US congress really planning to put conditions on the release of USD 290 mn in aid to Egypt? <\/strong>US Senator Patrick Leahy, the top Democrat on Senate\u2019s spending committee, is stipulating that Egypt help pay medical bills for a US tourist who was injured in the 2015 accidental bombing of tourists in the Western Desert as a condition on the USD 290 mn of withheld aid to Egypt<\/a>, officials from Leahy\u2019s office tell Al Monitor<\/a>. Leahy is also demanding a \u201ctransparent investigation\u201d into Italian PhD student Giulio Regeni\u2019s abduction and murder in Egypt, the pardoning of 43 NGO workers convicted in 2013, and the dismissal of the controversial NGOs law. Egypt has until September to abide by the conditions before the aid expires, the website suggests.<\/p>\n

Tell us again about this \u201cArab force\u201d you want us to contribute to in Syria?<\/strong> Foreign Ministry spokesperson Ahmed Abou Zaid downplayed statements made last week<\/a> by Foreign Minister Sameh Shoukry that implied regional states were considering US President Donald Trump\u2019s proposal to form an Arab military force that would cover America\u2019s withdrawal from Syria. Abou Zaid said<\/a> the minister\u2019s statement in no way implied that there was a possibility that Egypt might take part in the force, adding that the move won\u2019t happen unless it was in line with constitutional mechanisms.<\/p>\n

<\/a> The next step in Egypt\u2019s economic reforms should be to advance more inclusive growth, said IMF First Deputy Managing Director David Lipton yesterday<\/strong>. \u201cMany countries have escaped financial jeopardy and achieved a measure of macro-stability. But a smaller number have sustained that stabilization and gone on to complete a modernization driving sustained, inclusive growth. Egypt now is at the point where it has a chance to do so. That will require broadening and deepening the reform agenda<\/strong>,\u201d he said in a speech<\/a>. \u201cWe have come to Cairo to participate in a forward-looking conversation about those next steps \u2014 to ask what can be done to create greater opportunities for all Egyptians.\u201d<\/p>\n

Lipton\u2019s statement comes ahead of a IMF and CBE conference today on inclusive economic growth and job creation<\/strong>. Prime Minister Sherif Ismail CBE Governor Tarek Amer, and Finance Minister Amr El Garhy are all expected to speak at the conference.<\/p>\n

The conference is taking place as an IMF delegation is town to conduct the third review of the economic reform agenda<\/strong>, which will unlock a USD 2 bn tranche of the USD 12 bn IMF Extended Fund Facility. The delegation is here until 17 May<\/a> and the Fund is expected to disburse the tranche sometime in June or July.<\/p>\n

Lipton will also give a lecture titled \u201cThe Egyptian Economy: Growth and Job Creation\u201d at the American University in Cairo <\/strong>tomorrow. The event is organized by AUC\u2019s School of Business and will take place at the New Cairo campus. Tap or click here for more details (pdf)<\/a>.<\/p>\n

LEGISLATION WATCH- Will the Ride-hailing Apps Act get its plenary vote in Parliament today?<\/strong> MP Mohamed Badawy was on the airwaves last night stating that the House of Representatives will hold its critical vote on the Ride-hailing apps today. The law would set a legal framework for Uber and Careem. We have more on his comments in Last Night\u2019s Talk Shows.<\/p>\n

Speaking of which \u2014 Uber \/ Careem appeal this Saturday: <\/strong>The Supreme Administrative Court is scheduled to hear on Saturday, 12 May an appeal by Uber and Careem of a lower court decision that ordered the two companies to suspend operations, Al Mal reports<\/a>. The two companies continue to operate under a Court of Urgent Matters ruling that stayed the initial suspension.<\/p>\n

Also worth a moment of your time this morning:<\/p>\n

You think we have high interest rates? <\/strong>They\u2019re at 40% in Argentina.<\/strong><\/a>Our favourite South American country has hiked interest rates by 6.75 points, its third such hike in less than a week \u201cin an increasingly desperate attempt to halt the country\u2019s peso from sliding further against the USD.\u201d The question, the FT writes<\/a>, is whether Argentina is \u201ca bellwether for emerging markets<\/strong> that have benefited hugely from years of loose US monetary policy now coming to an end\u201d or an exceptional case. It\u2019s prompted the FT\u2019s John Authers to openly ask \u201cDo we have another emerging markets crisis on our hands<\/strong><\/a>,\u201d coming as it does as cross-border flows into EM bonds and equities came to a sudden stop<\/strong><\/a> in April.<\/p>\n

Warren Buffett\u2019s Berkshire Hathaway held its annual meeting yesterday<\/strong>, and the so-called Oracle of Omaha reassured shareholders that the conglomerate would remain \u201cthe buyer of choice\u201d for companies even after he shrugs off this mortal coil. See wall-to-wall coverage in the Financial Times<\/a>, Reuters (here<\/a>, here<\/a> and here<\/a>), Wall Street Journal<\/a>, New York Times<\/a>, and CNBC<\/a>. The takeaways: <\/strong>Berkshire turned in a net loss this quarter because of a change in accounting rules that are going to produce \u201cwild\u201d but meaningless swings in results, Buffett says; its operating profit is up nicely; and he really likes Apple\u2019s USD 100 bn share buyback.<\/p>\n

Goldman Sachs has decided it\u2019s going to trade bitcoin<\/strong>, likely the first such trading operation<\/a> at a Wall Street bank.<\/p>\n

It\u2019s election day in Lebanon <\/strong>as voters choose a new parliament<\/a>, casting ballots for the first time in nine years against a background with \u201cmany\u201d crises, including \u201ca mn Syrian refugees are straining public services; a shaky economy is increasingly teetering; garbage is piling up; fear is spreading of a new war between Hezbollah and Israel; and the political class has failed to find solutions.\u201d<\/p>\n

Turkey has found its Moussa Whatshisname Moussa <\/strong>in the form of a former high school principal<\/a> who will challenge Erdogan in next month\u2019s presidential election after being tapped by the country\u2019s biggest opposition party.<\/p>\n

** Communications tip for CEOs: That microphone is ALWAYS on, so <\/strong>don\u2019t start singing \u201cwe\u2019re in the money\u201d<\/strong><\/a> when you\u2019re announcing your merger, as J Sainsbury boss Mike Coupe did while waiting to be interviewed on TV to discuss his GBP 10 bn lash-up with Asda. Eyes and ears open, mouth shut, ladies and gents, when a mic or a camera is pointed in your direction.<\/p>\n

<\/a> ** <\/strong>How to survive your 40s<\/strong><\/a>, by the New York Times\u2019 inimitable Pamela Druckerman, is required reading for all this morning, whether you\u2019re in your 30s, your 40s or have already passed through that decade. The olds among us nodded along with damn near every sentence she wrote.<\/p>\n

Speaking of olds: Alice in Chains has its first new song out<\/strong> in something like five years. It\u2019s not half bad.<\/a><\/p>\n

PSA- Look for cloudy, somewhat cooler weather with a chance of rain and dust today<\/strong> in the capital city, with the mercury peaking at 28\u00b0C in Cairo, according to our favourite weather app. The national weather service<\/a> is warning Upper Egypt could see high temps, winds and blowing dust today. Look for a two-day heat wave Thursday and Friday, with highs of 40\u00b0C.<\/p>\n","protected":false},"excerpt":{"rendered":"

Is the US congress really planning to put conditions on the release of USD 290 mn in aid to Egypt? US Senator Patrick Leahy, the top Democrat on Senate\u2019s spending committee, is stipulating that Egypt help pay medical bills for a US tourist who was injured in the 2015 accidental bombing of tourists in the […]<\/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-628453","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":"ad8dfa09-c04f-443b-83bc-487fc8c667f1","order":"0","is_powered_by":true,"story_type":"1","photo_url":"","photo_position":"above","related_issue":[628451],"teaser":"","voice_url":""},"yoast_head":"\nWhat we\u2019re tracking on 06 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\/06\/what-were-tracking-on-06-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 06 May 2018\" \/>\n<meta property=\"og:description\" content=\"Is the US congress really planning to put conditions on the release of USD 290 mn in aid to Egypt? 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It\u2019s another reasonably brisk news afternoon here in Omm El Donia, with a little bit of everything from subsidy policy to diplomacy to keep us busy. THE BIG STORIES TODAY #1- Renewed price cap for unsubsidized bread from bakeries that use GASC flour: The government\u2026","rel":"","context":"In "WHAT WE\u2019RE TRACKING TONIGHT"","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":[]},{"id":578330,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/12\/22\/egypt-is-dragging-its-heels-over-tiran-sanafir-transfer-say-israeli-us-officials\/","url_meta":{"origin":628453,"position":1},"title":"Egypt is dragging its heels over Tiran + Sanafir transfer, say Israeli, US officials","author":"enterpriseam admin","date":"22 December 2022","format":false,"excerpt":"Whatever happened to that Tiran + Sanafir breakthrough the Biden administration was hoping for earlier this year? Egypt has apparently thrown a spanner into the works and has recently begun objecting to a number of aspects of the agreement, US and Israeli sources tell Axios.Rewind: Diplomats have been working to\u2026","rel":"","context":"In "Diplomacy"","block_context":{"text":"Diplomacy","link":"https:\/\/enterpriseam.com\/egypt\/category\/regulation\/diplomacy\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/12\/492.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":642829,"url":"https:\/\/enterpriseam.com\/egypt\/2017\/08\/23\/us-withholds-usd-290-mn-in-military-aid-to-egypt\/","url_meta":{"origin":628453,"position":2},"title":"US withholds USD 290 mn in military aid to Egypt","author":"enterpriseam admin","date":"23 August 2017","format":false,"excerpt":"US to withhold over USD 290 mn in civilian and military aid to Egypt? The US government has reportedly decided to withhold nearly USD 300 mn in aid to Egypt \u2014 most of it earmarked for military programs \u2014 \u201cbecause of its failure to make progress on respecting human rights\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":642946,"url":"https:\/\/enterpriseam.com\/egypt\/2017\/08\/27\/us-aid-cut-dominates-conversation-on-egypt\/","url_meta":{"origin":628453,"position":3},"title":"US aid cut dominates conversation on Egypt","author":"enterpriseam admin","date":"27 August 2017","format":false,"excerpt":"The Trump administration\u2019s decision to cut or withhold some USD 290 mn in aid to Cairo continued to dominate the conversation on Egypt in the international press over the weekend.Washington Post hails move to cut aid to Egypt: The move to withhold some of the US aid to Egypt has\u2026","rel":"","context":"In "EGYPT IN THE NEWS"","block_context":{"text":"EGYPT IN THE NEWS","link":"https:\/\/enterpriseam.com\/egypt\/category\/egypt-in-the-news\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":543001,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/01\/30\/us-could-cut-usd-130-mn-in-aid-to-egypt\/","url_meta":{"origin":628453,"position":4},"title":"US could cut USD 130 mn in aid to Egypt","author":"enterpriseam admin","date":"30 January 2022","format":false,"excerpt":"The Biden Administration will cancel USD 130 mn in military aid to Egypt if it fails to meet human rights-related conditions by today, US State Department officials said in a call with reporters on Friday, Reuters and the Associated Press reported.Background: The aid has been frozen since September, when Secretary\u2026","rel":"","context":"In "Diplomacy"","block_context":{"text":"Diplomacy","link":"https:\/\/enterpriseam.com\/egypt\/category\/regulation\/diplomacy\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/1\/362.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":602639,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/04\/02\/egypt-in-the-news-on-02-april-2019\/","url_meta":{"origin":628453,"position":5},"title":"Egypt in the News on 02 April 2019.","author":"enterpriseam admin","date":"2 April 2019","format":false,"excerpt":"It is a tough morning for Egypt in the American press: The New York Times\u2019 editorial board has penned a piece arguing that Trump should threaten to suspend aid to Egypt when President Abdel Fattah El Sisi visits Washington on 9 April. Why? The planned constitutional amendments and Egypt\u2019s human\u2026","rel":"","context":"In "EGYPT IN THE NEWS"","block_context":{"text":"EGYPT IN THE NEWS","link":"https:\/\/enterpriseam.com\/egypt\/category\/egypt-in-the-news\/"},"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\/628453","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=628453"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/628453\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/628451"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=628453"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=628453"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=628453"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=628453"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=628453"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}