{"id":630118,"date":"2018-04-12T04:10:18","date_gmt":"2018-04-12T04:10:18","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2018\/04\/12\/what-were-tracking-on-12-april-2018\/"},"modified":"2018-04-12T04:10:18","modified_gmt":"2018-04-12T04:10:18","slug":"what-were-tracking-on-12-april-2018","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2018\/04\/12\/what-were-tracking-on-12-april-2018\/","title":{"rendered":"What we\u2019re tracking on 12 April 2018"},"content":{"rendered":"<p><strong>A potential merger of our friends SODIC and Madinet Nasr Housing and Development continued to dominate business news<\/strong>, with SODIC confirming that it is entering into talks that could see the two businesses combined in one form or another. <strong>SODIC CEO Magued Sherif spoke with us yesterday<\/strong> about the potential transaction, which is already moving a market hungry for M&A news: The EGX rose 1.4% yesterday, with SODIC shares jumping 8.9% to a 10-year closing high and Madinet Nasr for Housing and Development gaining 12.6% to close the session on a record high.<\/p>\n<p><strong>Someone\u2019s issuing fake Egyptian e-visas? <\/strong>The Interior Ministry warned yesterday that a US company by the name of Gcl Internet Services has been cyber-posing as the Egyptian government and issuing electronic visas for Egypt at double the price through a fake website of its creation. The ministry stressed that the website <a href=\"http:\/\/www.visa2egypt.gov.eg\">www.visa2egypt.gov.eg<\/a> is the only official online channel for entry visas into the country, according to an emailed statement.<\/p>\n<p><strong>President Abdel Fattah El Sisi will be meeting his Portuguese counterpart Marcelo Rebelo de Sousa today,<\/strong> <a href=\"http:\/\/gate.ahram.org.eg\/News\/1893732.aspx\">Ahram Gate reports<\/a>. The two presidents are expected to discuss ways to boost cooperation across the board, according to the <a href=\"http:\/\/sis.gov.eg\/Story\/164519?lang=ar\">State Information Service<\/a>. De Sousa is in town to attend the Egyptian-Portuguese Business Forum, which kicks off today. The forum will focus on attracting fresh Portuguese investments in Egypt\u2019s steel, garments, and chemicals manufacturing industries, Egyptian-Portuguese Business Council member Mahmoud Sarg, tells <a href=\"http:\/\/gate.ahram.org.eg\/News\/1893953.aspx\">Ahram Gate<\/a>.<\/p>\n<p><strong>Facebook CEO Mark Zuckerberg\u2019s congressional hearings about data misuse on Tuesday and Wednesday are topping international business headlines.<\/strong> The 33-year-old resisted US senators\u2019 efforts to commit him to regulation, <a href=\"https:\/\/www.reuters.com\/article\/us-facebook-privacy-zuckerberg\/zuckerberg-resists-effort-by-u-s-senators-to-commit-him-to-regulation-idUSKBN1HH1CU\">Reuters reports<\/a>. His testimony seems to have impressed investors, with shares in Facebook posting their \u201cbiggest daily gain in nearly two years, closing up 4.5%.\u201d Zuckerberg <a href=\"https:\/\/www.reuters.com\/article\/us-facebook-privacy-zuckerberg\/facebook-ceo-says-his-own-data-was-shared-by-cambridge-analytica-idUSKBN1HI1CJ\">also said<\/a> he was one of around 87 mn Facebook users whose data was compromised in the Cambridge Analytica scandal. <a href=\"https:\/\/www.wsj.com\/livecoverage\/facebook-mark-zuckerberg-live-coverage\">WSJ<\/a>, the <a href=\"https:\/\/www.theguardian.com\/commentisfree\/2018\/apr\/11\/mark-zuckerbergs-facebook-hearing-sham\">Guardian<\/a>, the <a href=\"https:\/\/www.nytimes.com\/2018\/04\/11\/us\/politics\/zuckerberg-facebook-cambridge-analytica.html?mtrref=www.google.com.eg&gwh=8C25FCB8B1C38E9A755518EEDDDC4411&gwt=pay\">New York Times<\/a>, <a href=\"http:\/\/money.cnn.com\/2018\/04\/11\/technology\/mark-zuckerberg-congress\/index.html\">CNN<\/a>, and <a href=\"https:\/\/www.cnbc.com\/2018\/04\/11\/facebook-ceo-mark-zuckerberg-was-ready-to-slam-apple-in-his-testimony-over-privacy.html\">CNBC<\/a> also have coverage.<\/p>\n<p><strong>Now onto the biggest international story of the day: US President Donald Trump vowed to launch missiles at Syrian targets<\/strong> in response to a suspected chemical attack in a rebel-held suburb of Damascus. \u201cRussia vows to shoot down any and all missiles fired at Syria. Get ready Russia, because they will be coming, nice and new and \u2018smart!\u2019\u201d <a href=\"https:\/\/twitter.com\/realDonaldTrump\/status\/984022625440747520\">Trump tweeted<\/a>. He also warned Russia against backing Syrian President Bashar Al Assad.<\/p>\n<p><strong>The UK could also join the potential fight<\/strong>. <a href=\"http:\/\/www.bbc.com\/news\/uk-43719284\">Sources tell the BBC<\/a> that Prime Minister Theresa May is ready for military intervention in Syria, \u201cwithout first seeking parliamentary consent.\u201d<\/p>\n<p><strong>Pressured by the warnings, global stock markets took a dip yesterday.<\/strong> The MSCI\u2019s global stock index was down 0.16% when markets closed yesterday, while the S&P 500 dropped 0.23%, while Nasdaq rose by a marginal 0.12%, buoyed mostly by gains in Facebook and Netflix stocks, <a href=\"https:\/\/www.reuters.com\/article\/global-markets\/global-markets-stocks-rattle-oil-soars-as-tensions-mount-in-the-middle-east-idUSL1N1RO16B\">Reuters said<\/a>, <a href=\"https:\/\/www.reuters.com\/article\/us-mideast-crisis-syria\/trump-signals-strikes-against-syria-lays-into-assad-ally-russia-idUSKBN1HI1BY\">attributing the drop<\/a> to \u201calarm about a possible Russian-US conflict over Syria.\u201d Global equity markets had only just begun to recover on Tuesday, after China\u2019s President Xi Jinping calmed <a href=\"https:\/\/enterprise.press\/stories\/2018\/04\/11\/what-were-tracking-on-11-april-2018\/\">growing fears about a trade war<\/a> with the US with promises of lower trade fares (<a href=\"https:\/\/www.ft.com\/content\/c8c4bb22-3ccd-11e8-b9f9-de94fa33a81e\">Read here why<\/a> IMF boss Christine Lagarde thinks \u201ca trade war could rip apart global economy, courtesy of the FT).<\/p>\n<p>This comes as <strong>US consumer prices for March dropped by 0.1%<\/strong>, the Labor Department <a href=\"https:\/\/www.bls.gov\/news.release\/pdf\/cpi.pdf\">announced yesterday (pdf)<\/a>. Prices were pressured by a drop in gasoline prices, but underlying inflation continued to firm amid rising prices for healthcare and rental accommodation,\u201d <a href=\"https:\/\/www.reuters.com\/article\/us-usa-economy-inflation\/u-s-consumer-prices-drop-but-core-inflation-firming-idUSKBN1HI1TT\">Reuters notes<\/a>. \u201c\u2018US inflation is warming rather than heating up,\u2019\u201d said BMO Capital Markets senior economist Sal Guatieri. \u201c\u2018Still, the upward trend could suffice to nudge the Fed three more times this year.\u2019\u201d<\/p>\n<p>In other news from Amreeka, <strong>US House of Representatives Speaker Paul Ryan announced yesterday that he would be stepping down at the start of 2019<\/strong>, at a time when Republicans are struggling to maintain control over the legislative body, <a href=\"https:\/\/www.reuters.com\/article\/us-usa-congress-ryan\/house-speaker-ryan-to-quit-shaking-republicans-as-elections-near-idUSKBN1HI1TE\">according to Reuters<\/a>. Ryan said he would not be running in the upcoming congressional elections, which has \u201cdismayed some Republicans already concerned about their prospects with US voters in November.\u201d An unnamed member of the party told the newswire that Ryan\u2019s decision would \u201cset off an intramural war among Republicans on who is going to be the next speaker. <strong>It will take the eye off the ball of keeping a majority in the House.\u201d<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>A potential merger of our friends SODIC and Madinet Nasr Housing and Development continued to dominate business news, with SODIC confirming that it is entering into talks that could see the two businesses combined in one form or another. SODIC CEO Magued Sherif spoke with us yesterday about the potential transaction, which is already moving [&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-630118","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":"65bb85e4-5a67-4e8c-9798-c67fd14fd51a","order":"0","is_powered_by":true,"story_type":"1","photo_url":"","photo_position":"above","related_issue":[630116],"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 12 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\/12\/what-were-tracking-on-12-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 12 April 2018\" \/>\n<meta property=\"og:description\" content=\"A potential merger of our friends SODIC and Madinet Nasr Housing and Development continued to dominate business news, with SODIC confirming that it is entering into talks that could see the two businesses combined in one form or another. SODIC CEO Magued Sherif spoke with us yesterday about the potential transaction, which is already moving [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2018\/04\/12\/what-were-tracking-on-12-april-2018\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2018-04-12T04:10:18+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\/12\/what-were-tracking-on-12-april-2018\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2018\/04\/12\/what-were-tracking-on-12-april-2018\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"What we\u2019re tracking on 12 April 2018\",\"datePublished\":\"2018-04-12T04:10:18+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2018\/04\/12\/what-were-tracking-on-12-april-2018\/\"},\"wordCount\":734,\"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\/12\/what-were-tracking-on-12-april-2018\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/2018\/04\/12\/what-were-tracking-on-12-april-2018\/\",\"name\":\"What we\u2019re tracking on 12 April 2018 - EnterpriseAM Egypt\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#website\"},\"datePublished\":\"2018-04-12T04:10:18+00:00\",\"breadcrumb\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2018\/04\/12\/what-were-tracking-on-12-april-2018\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/enterpriseam.com\/egypt\/2018\/04\/12\/what-were-tracking-on-12-april-2018\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2018\/04\/12\/what-were-tracking-on-12-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 12 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 12 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\/12\/what-were-tracking-on-12-april-2018\/","og_locale":"en_US","og_type":"article","og_title":"What we\u2019re tracking on 12 April 2018","og_description":"A potential merger of our friends SODIC and Madinet Nasr Housing and Development continued to dominate business news, with SODIC confirming that it is entering into talks that could see the two businesses combined in one form or another. 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Just three investors voted in favor of allowing\u2026","rel":"","context":"In &quot;M&amp;A WATCH&quot;","block_context":{"text":"M&amp;A WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/ma-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/8\/289.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":549592,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/09\/22\/sodic-kills-bid-for-mnhd\/","url_meta":{"origin":630118,"position":3},"title":"SODIC kills bid for MNHD","author":"enterpriseam admin","date":"22 September 2022","format":false,"excerpt":"SODIC is no longer interested in acquiring MNHD: SODIC has called off its takeover bid for Madinet Nasr Housing and Development (MNHD) and is currently reviewing other alternatives, our friend SODIC Managing Director Magued Sherif told Bloomberg Asharq.MNHD shareholders rejected SODIC\u2019s bid last month, saying its EGP 6.36 bn valuation\u2026","rel":"","context":"In &quot;M&amp;A WATCH&quot;","block_context":{"text":"M&amp;A WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/ma-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/9\/316.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":547884,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/07\/18\/mnhd-wants-sodic-to-bump-up-its-offer-price\/","url_meta":{"origin":630118,"position":4},"title":"MNHD wants SODIC to bump up its offer price","author":"enterpriseam admin","date":"18 July 2022","format":false,"excerpt":"MNHD says the price isn\u2019t right on SODIC\u2019s acquisition bid: Madinet Nasr for Housing and Development (MNHD) has rejected a takeover bid by SODIC and called on the company to bump up its offer. 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