{"id":642523,"date":"2017-08-16T04:03:13","date_gmt":"2017-08-16T04:03:13","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2017\/08\/16\/what-were-tracking-on-16-august-2017\/"},"modified":"2017-08-16T04:03:13","modified_gmt":"2017-08-16T04:03:13","slug":"what-were-tracking-on-16-august-2017","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2017\/08\/16\/what-were-tracking-on-16-august-2017\/","title":{"rendered":"What we\u2019re tracking on 16 August 2017"},"content":{"rendered":"<p><a class=\"content-anchor\" id=\"tldr-story-03\"><\/a> <strong>Will former EGX boss Mohamed Omran be the next head of EFSA? <\/strong>That\u2019s what unnamed sources are telling <a href=\"http:\/\/gate.ahram.org.eg\/News\/1565976.aspx\">Al Ahram\u2019s breaking news website<\/a>, which says the former stock exchange boss may now cross the street to become the nation\u2019s top non-bank financial regulator at the Egyptian Financial Supervisory Authority. Deputy Justice Minister Khaled El Nashar is reportedly set to be named Omran\u2019s deputy. Both nominations will go to the House of Representatives for approval, the website reports. Reda Abdel Moati has been serving as acting chairman of EFSA since Sherif Samy\u2019s tenure ended earlier this month. As does every such story by our friends in the domestic press, this one promises the official announcement will be made \u201csoon.\u201d<\/p>\n<p><a class=\"content-anchor\" id=\"tldr-story-04\"><\/a> <strong>Getting us excited this morning is a very bullish report on Egypt from Goldman <\/strong><strong>Sachs<\/strong> that a good friend of Enterprise passed on to us yesterday. The firm\u2019s thoughts are going long on the EGP, shorter-term T-bills, and USD-denominated debt. GS sees the fiscal picture in Egypt is \u201cimproving\u201d and <strong>the drive for structural reform continuing with little signs of fatigue as the IMF-sponsored reform program was mostly \u201cfront-loaded,\u201d<\/strong> with the relatively difficult measures already completed. Goldman notes \u201cgood news\u201d that boosted investor confidence, including a quick rebound in foreign inflows, growing international reserves, successful eurobond issuance, strong FDI flows, and improved FX liquidity situation. <strong>The report also suggests that Egyptian debt is trading at least one notch above what its current rating would correspond to.<\/strong><\/p>\n<p><strong>The Ismail cabinet will review the Investment Act\u2019s executive regulations<\/strong> \u2014 which we expect it would approve \u2014 and at the <strong>Factoring and Leasing Act<\/strong> at its weekly meeting today.<\/p>\n<p>Members of the House of Representatives\u2019 <strong>majority Support Egypt Coalition will be holding <\/strong><strong>an \u201curgent meeting\u201d with Transport Minister Hisham Arafat today<\/strong> to discuss the development of the national railway network, bloc leader MP Mohamed Elsewedy <a href=\"http:\/\/www.shorouknews.com\/news\/view.aspx?cdate=15082017&id=43ca78c2-fb20-4383-8935-f54accdf0573\">tells Al Shorouk<\/a>. Arafat had said <a href=\"https:\/\/enterprise.press\/stories\/2017\/08\/15\/transportation-ministry-to-spend-egp-45-bn-on-railway-system-in-coming-years\/\">earlier this week<\/a> that upgrades were ongoing, with the aid of foreign partners like Thales, and that they would cost c. EGP 45 bn to complete. In their upcoming session, House representatives also plan on introducing <strong>new legislation that would allow the private sector to directly build, manage, and maintenance of railway infrastructure,<\/strong> which is not allowed under current laws, House Transport Committee deputy Wahid Qarqar <a href=\"http:\/\/www.shorouknews.com\/news\/view.aspx?cdate=15082017&id=0805151f-e955-4765-81cc-03083f91cbd6\">also tells the newspaper<\/a>.<\/p>\n<p><strong>The End Times I: <\/strong>We\u2019ve been saying this for more than two years now, but it\u2019s not the prospect of the Trump presidency or solar eclipses (see below) that should have you worried about economic Armageddon, it\u2019s the <strong>ticking time bomb that is unsustainable Chinese debt<\/strong> \u2014 including often -undocumented rural debt used by local chieftains to gin-up growth figures to the satisfaction of central officials. Enter the IMF, which warned in a tough country report yesterday that, \u201c<strong>International experience suggests that China\u2019s current credit trajectory is dangerous with increasing risks of a disruptive adjustment<\/strong>.\u201d \u2018Disruptive adjustment\u2019 is IMFspeak for \u201cHoly [redacted], it\u2019s gonna be bad on a global scale.\u201d As the <a href=\"https:\/\/www.ft.com\/content\/4ca05a5a-81a3-11e7-a4ce-15b2513cb3ff\">Financial Times<\/a> succinctly put it: \u201cChina\u2019s economy will grow faster than expected over the next three years because of the government\u2019s reluctance to rein in <a href=\"https:\/\/www.ft.com\/content\/293f8f22-8112-11e7-94e2-c5b903247afd\">\u2018dangerous\u2019 levels of debt<\/a>.\u201d Check out a <a href=\"http:\/\/www.imf.org\/en\/News\/Articles\/2017\/08\/09\/NA081517-China-Economic-Outlook-in-Six-Charts\">six-chart summary<\/a> or the <a href=\"http:\/\/www.imf.org\/en\/Publications\/CR\/Issues\/2017\/08\/15\/People-s-Republic-of-China-2017-Article-IV-Consultation-Press-Release-Staff-Report-and-45170\">full report itself<\/a> (pdf, look for the link under \u201celectronic access\u201d).<\/p>\n<p><strong>The End Times II: <\/strong>When they\u2019re not losing it over <a href=\"https:\/\/www.nytimes.com\/2017\/08\/15\/us\/politics\/trump-press-conference-charlottesville.html\">their president likening left-wing demonstrators to neo-nazis<\/a>, some Americans are preparing to go nuts over a <a href=\"https:\/\/www.nytimes.com\/2017\/08\/14\/science\/watching-eclipse-august-21.html\">rare solar eclipse this coming Monday, 21 August<\/a> that has <a href=\"https:\/\/www.wsj.com\/articles\/dark-cameras-action-scientists-and-amateurs-prepare-for-solar-eclipse-1502703002\">amateur astronomers and scientists alike excited<\/a>, others <a href=\"http:\/\/www.bbc.com\/future\/story\/20170811-why-do-we-associate-eclipses-with-the-end-of-the-world\">predicting the end of the world<\/a> and <a href=\"http:\/\/abcnews.go.com\/US\/amazon-issues-refunds-customers-bought-counterfeit-solar-eclipse\/story?id=49206091\">scam artists out in full force<\/a>. But don\u2019t worry about the eclipse, the UK\u2019s Daily Star reassures us \u2014 the End Times are really signalled by the \u201c<a href=\"https:\/\/www.dailystar.co.uk\/news\/weird-news\/636704\/solar-eclipse-2017-planet-x-nibiru-pyramid-nasa-apocalypse-end-world-ancient-astronaut\">Great Pyramid [of Giza, which] reveals EXACT DATE of end of world\u2026and it\u2019s NEXT MONTH<\/a>.\u201d Something about a giant planet named \u201cNibiru\u201d crashing into earth sometime in October after becoming visible on 23 September. <strong>And we think our domestic press is nutty? <\/strong>Would that some other nations were judged in toto by the stuff their yellow press runs\u2026<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Will former EGX boss Mohamed Omran be the next head of EFSA? That\u2019s what unnamed sources are telling Al Ahram\u2019s breaking news website, which says the former stock exchange boss may now cross the street to become the nation\u2019s top non-bank financial regulator at the Egyptian Financial Supervisory Authority. Deputy Justice Minister Khaled El Nashar [&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-642523","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":"e6922660-5ca1-4487-81bb-91141d42d338","order":"0","is_powered_by":true,"story_type":"1","photo_url":"","photo_position":"above","related_issue":[642521],"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 16 August 2017 - 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\/2017\/08\/16\/what-were-tracking-on-16-august-2017\/\" \/>\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 August 2017\" \/>\n<meta property=\"og:description\" content=\"Will former EGX boss Mohamed Omran be the next head of EFSA? That\u2019s what unnamed sources are telling Al Ahram\u2019s breaking news website, which says the former stock exchange boss may now cross the street to become the nation\u2019s top non-bank financial regulator at the Egyptian Financial Supervisory Authority. Deputy Justice Minister Khaled El Nashar [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2017\/08\/16\/what-were-tracking-on-16-august-2017\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2017-08-16T04:03:13+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=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2017\/08\/16\/what-were-tracking-on-16-august-2017\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2017\/08\/16\/what-were-tracking-on-16-august-2017\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"What we\u2019re tracking on 16 August 2017\",\"datePublished\":\"2017-08-16T04:03:13+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2017\/08\/16\/what-were-tracking-on-16-august-2017\/\"},\"wordCount\":698,\"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\/2017\/08\/16\/what-were-tracking-on-16-august-2017\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/2017\/08\/16\/what-were-tracking-on-16-august-2017\/\",\"name\":\"What we\u2019re tracking on 16 August 2017 - EnterpriseAM Egypt\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#website\"},\"datePublished\":\"2017-08-16T04:03:13+00:00\",\"breadcrumb\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2017\/08\/16\/what-were-tracking-on-16-august-2017\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/enterpriseam.com\/egypt\/2017\/08\/16\/what-were-tracking-on-16-august-2017\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2017\/08\/16\/what-were-tracking-on-16-august-2017\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/enterpriseam.com\/egypt\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"What we\u2019re tracking on 16 August 2017\"}]},{\"@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 16 August 2017 - 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\/2017\/08\/16\/what-were-tracking-on-16-august-2017\/","og_locale":"en_US","og_type":"article","og_title":"What we\u2019re tracking on 16 August 2017","og_description":"Will former EGX boss Mohamed Omran be the next head of EFSA? 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Speculation arose last week that Omran was being tapped for the job along with Deputy Justice Minister Khaled El Nashar\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\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":638310,"url":"https:\/\/enterpriseam.com\/egypt\/2017\/10\/02\/el-nashar-appointed-deputy-chairman-of-efsa\/","url_meta":{"origin":642523,"position":2},"title":"El Nashar appointed Deputy Chairman of EFSA","author":"enterpriseam admin","date":"2 October 2017","format":false,"excerpt":"MOVES- Prime Minister Sherif Ismail has appointed Khaled El Nashar Deputy Chairman of the Egyptian Financial Supervisory Authority (EFSA). Investment Minister Sahar Nasr says the government finalize appointments to EFSA\u2019s board in November. El Nashar was an assistant to the Justice Minister who was previously the deputy chairman of EFSA\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\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":651548,"url":"https:\/\/enterpriseam.com\/egypt\/2017\/02\/15\/what-were-tracking-on-15-february-2017-2\/","url_meta":{"origin":642523,"position":3},"title":"What we\u2019re tracking on 15 February 2017","author":"enterpriseam admin","date":"15 February 2017","format":false,"excerpt":"EFSA staff, brokers implicated in scam to defraud investors: Staff at the nation\u2019s financial regulator and employees at an unnamed brokerage house are alleged to have colluded to defraud investors by siphoning mns of EGP from brokerage accounts using forged documents. The allegation has been levelled by Mohamed Erfan, the\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":632737,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/02\/19\/what-were-tracking-this-week-63\/","url_meta":{"origin":642523,"position":4},"title":"What we\u2019re tracking this week","author":"enterpriseam admin","date":"19 February 2018","format":false,"excerpt":"The third annual Capital Markets Summit gets underway tomorrow. The theme for this year\u2019s conference is \u201cthe role of reforms in restoring growth and the vision of the capital market 2030,\u201d and will feature a discussion of the state IPO program and the impact of the government\u2019s reform program. Speakers\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":646209,"url":"https:\/\/enterpriseam.com\/egypt\/2017\/06\/08\/what-were-tracking-on-08-june-2017\/","url_meta":{"origin":642523,"position":5},"title":"What we\u2019re tracking on 08 June 2017","author":"enterpriseam admin","date":"8 June 2017","format":false,"excerpt":"French Foreign Minister Jean-Yves Le Drian is arriving in Cairo today for talks with President Abdel Fattah El Sisi, Foreign Minister Sameh Shoukry, and Defense Minister Sedki Sobhi, Al Masry Al Youm reports. Expect the situation with Qatar to be rather near the top of the agenda.The M&A battle of\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":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/642523","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=642523"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/642523\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/642521"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=642523"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=642523"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=642523"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=642523"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=642523"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}