{"id":630011,"date":"2018-04-10T04:42:35","date_gmt":"2018-04-10T04:42:35","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2018\/04\/10\/what-were-tracking-on-10-april-2018\/"},"modified":"2018-04-10T04:42:35","modified_gmt":"2018-04-10T04:42:35","slug":"what-were-tracking-on-10-april-2018","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2018\/04\/10\/what-were-tracking-on-10-april-2018\/","title":{"rendered":"What we\u2019re tracking on 10 April 2018"},"content":{"rendered":"<p><strong>We hope you all had a wonderful and relaxing holiday \u2014 the last big one before Ramadan<\/strong> (you get only day each for Sinai Liberation Day on 25 April and Labor Day on 1 May). Yes, Ramadan is in a little over a month from now. Food for thought (Mmmm, food).<\/p>\n<p><strong>We have a handful of news for you this morning, <\/strong>including the successful conclusion of Egypt\u2019s EUR 2 bn eurobond sale and a ruling in favor of ride-hailing apps Uber and Careem, among other things, which we cover in detail in the Speed Round, below.<\/p>\n<p>But first,<strong> it\u2019s inflation report day:<\/strong> We are expecting today results from the CBE and CAPMAS on inflation figures for March. Annual headline inflation fell to 14.4% in February from a high of 33% in July 2017, while core inflation dropped to 11.9% in February from a high of 35.3% in July \u2014 the lowest they\u2019ve been since 2016. This undoubtedly bolstered the CBE\u2019s resolve to continue with monetary easing for the second straight month since the EGP float, cutting rates 100 bps last month.<\/p>\n<p><strong>An expected rise in global interest rates may soon see African economies facing a debt crisis, <\/strong><a href=\"http:\/\/africanbusinessmagazine.com\/sectors\/finance\/has-africa-learned-its-lesson-on-debt\/\">according to African Business<\/a>. The continent\u2019s debt levels have risen to alarming levels, as widening deficits and a sharp drop in commodity prices have prodded more than 20 African countries to seek out loans from international funding institutions and issue large eurobonds in the last few years, including Egypt, Nigeria, Ghana, Kenya, and Cote d\u2019Ivoire. <strong>\u201cIt is the equivalent of using one credit card to pay off another,\u201d <\/strong>as most of the inflowing cash is used to plug budget deficits and pay off existing debt. \u201cCommercial debt is also becoming a problem. Some USD 35 bn of existing eurobond debt will mature between 2021-2025.\u201d<\/p>\n<p><strong>Equity markets will be holding their collective breath ahead of Chinese President Xi Jinping\u2019s speech today<\/strong>, which is \u201cfraught with market peril\u201d and \u201ccould really stir the pot,\u201d Performance Trust Capital Partners\u2019 Brian Battle <a href=\"https:\/\/www.reuters.com\/article\/us-global-markets\/stocks-and-oil-up-but-us-dollar-slips-amid-ongoing-geopolitical-risk-idUSKBN1HG019\">tells Reuters<\/a>. Xi \u201cis expected to announce new economic reforms and market-access measures in a delicate attempt to answer complaints by the US and other trading partners,\u201d <a href=\"https:\/\/www.ft.com\/content\/9cf8a086-3bd2-11e8-b7e0-52972418fec4\">according to the FT<\/a>. China had <a href=\"https:\/\/enterprise.press\/stories\/2018\/04\/05\/what-were-tracking-on-05-april-2018\/\">threatened last week<\/a> to slap a 25% tariff on USD 50 bn-worth of US imports, in response to US President Donald Trump announcing a plan to impose a similar levy on a range of Chinese products, which US officials said was still months in the making. Chinese businessmen and academics attempted yesterday to dispel rumors of China\u2019s intention to escalate the fight, the FT says.<\/p>\n<p><strong>An agreement in the offing? <\/strong>On the other side of the pond, Trump also downplayed rumors of a trade war, saying at a <a href=\"https:\/\/www.reuters.com\/article\/us-usa-trade-china\/china-blames-u-s-for-trade-frictions-but-trump-voices-optimism-idUSKBN1HG0WB\">White House Cabinet meeting<\/a> he expects Beijing to strike a bargain with the US and move to eliminate trade barriers. \u201c\u2018Taxes will become reciprocal and [an agreement] will be made on intellectual property,\u2019\u201d he said, adding that while a pact was probable, the lack of one would mean China paying \u201cpretty high taxes to do business with our country.\u201d<\/p>\n<p><strong>Global stock prices were up yesterday as equity markets began to recover from fears of the imminent trade war <\/strong>that had sent indices tumbling last week Asian and European stock markets saw prices continue on their uptrend from last week. In the US, the S&P 500 closed the day with a 0.33% gain, \u201cafter rising as much as 1.9% during the session,\u201d while Nasdaq was up 0.51%. <strong>Both indices were weighed down by news that the FBI had raided Trump\u2019s longtime lawyer Michael Cohen\u2019s office<\/strong>.<\/p>\n<p>Meanwhile in Russia, <strong>major companies saw their share prices drop after the US announced a new round of sanctions<\/strong> on Friday that \u201ctarget officials and businesspeople around President Vladimir Putin in an aggressive response to alleged Russian meddling in the 2016 US election,\u201d <a href=\"https:\/\/www.reuters.com\/article\/us-usa-russia-sanctions\/russias-ruble-rusal-sberbank-take-hits-as-us-sanctions-bite-idUSKBN1HG1D2\">Reuters says<\/a> (The FT looks into whether or not the <a href=\"https:\/\/www.ft.com\/content\/9ae39f0e-3bf4-11e8-b9f9-de94fa33a81e\">sanctions will have a last impact on Russia here<\/a>).<\/p>\n<p>In other news from across the pond, <strong>Trump is receiving Qatar\u2019s Emir Tamim bin Hamad Al Thani today, <\/strong>according to a <a href=\"https:\/\/www.whitehouse.gov\/briefings-statements\/statement-press-secretary-visit-emir-tamim-bin-hamad-al-thani-qatar\/\">White House statement<\/a>. The two will discuss ways to \u201cstrengthen ties\u201d and advance \u201ccommon security and economic priorities\u201d between the US and Qatar. Trump had <a href=\"https:\/\/enterprise.press\/stories\/2018\/03\/21\/what-were-tracking-on-21-march-2018\/\">recently met<\/a> with Saudi Crown Prince Mohammed bin Salman at the White House, and will be meeting with Abu Dhabi Crown Prince Sheikh Mohammed bin Zayed soon. Bin Zayed and Trump had called for greater unity within the GCC in a phone call on Friday, <a href=\"https:\/\/www.reuters.com\/article\/us-usa-trump-gulf\/trump-uae-leader-push-for-unity-in-gulf-as-dispute-drags-on-idUSKCN1HE01N\">Reuters reports<\/a>. Tamim\u2019s visit comes amid an ongoing Gulf spat, which Trump is hoping to resolve in a <a href=\"https:\/\/enterprise.press\/stories\/2018\/04\/04\/us-delays-summit-with-gcc-leaders-to-september-due-to-lack-of-progress-on-mending-qatar-rift\/\">September summit<\/a>. <strong>Not likely to help are Saudi proposals to turn Qatar into an island<\/strong>, by digging a canal and a zone to dump nuclear waste, <a href=\"http:\/\/gulfnews.com\/news\/gulf\/qatar\/saudi-waterway-to-turn-qatar-into-island-1.2202215\">according to Gulf News<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>We hope you all had a wonderful and relaxing holiday \u2014 the last big one before Ramadan (you get only day each for Sinai Liberation Day on 25 April and Labor Day on 1 May). Yes, Ramadan is in a little over a month from now. Food for thought (Mmmm, food). We have a handful [&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-630011","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":"4bf9aa45-1133-4513-99b6-e186247ce572","order":"0","is_powered_by":true,"story_type":"1","photo_url":"","photo_position":"above","related_issue":[630009],"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 10 April 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\/04\/10\/what-were-tracking-on-10-april-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 10 April 2018\" \/>\n<meta property=\"og:description\" content=\"We hope you all had a wonderful and relaxing holiday \u2014 the last big one before Ramadan (you get only day each for Sinai Liberation Day on 25 April and Labor Day on 1 May). Yes, Ramadan is in a little over a month from now. Food for thought (Mmmm, food). We have a handful [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2018\/04\/10\/what-were-tracking-on-10-april-2018\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2018-04-10T04:42:35+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\/04\/10\/what-were-tracking-on-10-april-2018\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2018\/04\/10\/what-were-tracking-on-10-april-2018\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"What we\u2019re tracking on 10 April 2018\",\"datePublished\":\"2018-04-10T04:42:35+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2018\/04\/10\/what-were-tracking-on-10-april-2018\/\"},\"wordCount\":799,\"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\/04\/10\/what-were-tracking-on-10-april-2018\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/2018\/04\/10\/what-were-tracking-on-10-april-2018\/\",\"name\":\"What we\u2019re tracking on 10 April 2018 - EnterpriseAM Egypt\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#website\"},\"datePublished\":\"2018-04-10T04:42:35+00:00\",\"breadcrumb\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2018\/04\/10\/what-were-tracking-on-10-april-2018\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/enterpriseam.com\/egypt\/2018\/04\/10\/what-were-tracking-on-10-april-2018\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2018\/04\/10\/what-were-tracking-on-10-april-2018\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/enterpriseam.com\/egypt\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"What we\u2019re tracking on 10 April 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 10 April 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\/04\/10\/what-were-tracking-on-10-april-2018\/","og_locale":"en_US","og_type":"article","og_title":"What we\u2019re tracking on 10 April 2018","og_description":"We hope you all had a wonderful and relaxing holiday \u2014 the last big one before Ramadan (you get only day each for Sinai Liberation Day on 25 April and Labor Day on 1 May). 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Banks and the stock market are closed Sunday (16 April) and Monday (17\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":584405,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/03\/30\/talking-heads-discuss-impact-of-soaring-inflation-during-ramadan\/","url_meta":{"origin":630011,"position":1},"title":"Talking heads discuss impact of soaring inflation during Ramadan","author":"enterpriseam admin","date":"30 March 2023","format":false,"excerpt":"Economist predicts rate hike at today\u2019s MPC meeting","rel":"","context":"In &quot;LAST NIGHT\u2019S TALK SHOWS&quot;","block_context":{"text":"LAST NIGHT\u2019S TALK SHOWS","link":"https:\/\/enterpriseam.com\/egypt\/category\/last-nights-talk-shows\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2023\/3\/689.jpg?fit=%2C&ssl=1&resize=350%2C200","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":630011,"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":598736,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/06\/03\/what-were-tracking-on-03-june-2019\/","url_meta":{"origin":630011,"position":3},"title":"What we\u2019re tracking on 03 June 2019","author":"enterpriseam admin","date":"3 June 2019","format":false,"excerpt":"It\u2019s official: We\u2019re on Eid break as of tomorrow morning \u2014 but you may still be fasting. Both the central bank and the EGX have confirmed that our five-day Eid El Fitr weekend begins tomorrow. Banks, capital markets (and, by extension, much of the private sector) are on holiday Tuesday\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":669873,"url":"https:\/\/enterpriseam.com\/egypt\/2025\/08\/10\/inflation-cools-for-second-consecutive-month-hitting-13-9-in-july\/","url_meta":{"origin":630011,"position":4},"title":"Inflation cools for second consecutive month, hitting 13.9% in July","author":"enterpriseam admin","date":"10 August 2025","format":false,"excerpt":"Good afternoon, friends, and welcome to the start of another workweek. It\u2019s a calm day on the news front, and at home, we\u2019re celebrating a cooling inflation rate. THE BIG STORY TODAY- Annual headline urban inflation cooled further for the second consecutive month to hit 13.9% in July, down from\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\/2024\/9\/833.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":618427,"url":"https:\/\/enterpriseam.com\/egypt\/2024\/04\/08\/this-evening-egypts-annual-urban-inflation-cools-to-33-3-in-march\/","url_meta":{"origin":630011,"position":5},"title":"THIS EVENING: Egypt\u2019s annual urban inflation cools to 33.3% in March","author":"enterpriseam admin","date":"8 April 2024","format":false,"excerpt":"Good afternoon, folks, and a very happy Monday indeed. The pre-Eid news lull is here and the anticipation for the upcoming holiday is palpable.Everyone is off till next week: The public, private, and banking sectors as well as the EGX will be off from tomorrow until Sunday in observance of\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\/2024\/4\/730.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/630011","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=630011"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/630011\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/630009"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=630011"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=630011"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=630011"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=630011"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=630011"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}