{"id":648346,"date":"2017-04-02T04:11:00","date_gmt":"2017-04-02T04:11:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2017\/04\/02\/what-were-tracking-on-02-april-2017\/"},"modified":"2017-04-02T04:11:00","modified_gmt":"2017-04-02T04:11:00","slug":"what-were-tracking-on-02-april-2017","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2017\/04\/02\/what-were-tracking-on-02-april-2017\/","title":{"rendered":"What we\u2019re tracking on 02 April 2017"},"content":{"rendered":"

<\/a> President Abdel Fattah El Sisi\u2019s DC marathon week kicked off on Saturday<\/strong> when he landed at Andrews Air Force Base<\/a>. On the agenda: A reset of relations with the United States and meetings with top officials at the International Monetary Fund and the World Bank.<\/p>\n

The White House seems to want better ties almost as much as we do: <\/strong>The always ineloquent Sean Spicer managed a brief statement to the effect that US President Donald Trump and El Sisi will \u201cbuild on the positive momentum<\/a> they have built for the United States-Egypt relationship.\u201d The real meat came in a background briefing for reporters by a US National Security Council Official, which noted that while the meeting would focus on security and terrorism, \u201cPresident Trump also wants to increase the focus on economic and commercial cooperation in our bilateral relationship.<\/strong> Building a more stable and productive economy is a critical step to ensuring long-term stability in Egypt. And President Sisi, we would like to note, has begun a necessary economic reform plan that will strengthen the Egyptian economy if it is fully executed.\u201d (Read the full transcript<\/strong> of the NSC briefing here, including the Q&A<\/a>, which also touches on King Abdullah of Jordan\u2019s planned 5 April visit.)<\/p>\n

So is Egypt safe from Trump\u2019s planning cuts to US foreign assistance programs? <\/strong>It remains an open question but the National Security Council official said, \u201cWe\u2019ve had a longstanding relationship with substantial foreign military assistance and economic support. That support has continued, and we anticipate it will continue until the future. We\u2019re in the budget process right now, and those discussions are ongoing as to how it will be broken out. But we are going to maintain a strong and sufficient level of support to Egypt and Jordan.\u201d The official also declined to specify whether Egypt might be allowed to once again acquire US weapons on credit<\/strong>.<\/p>\n

Trump isn\u2019t going to beat us up on human rights, but the issue will be raised. <\/strong>Says the unnamed senior administration official in the briefing: \u201cHuman rights are always an issue of concern to the United States, and they\u2019re first and foremost in our discussions. Our approach is to handle these types of sensitive issues in a private, more discreet way. And we believe it\u2019s the most effective way to advance those issues to a favorable outcome.\u201d<\/p>\n

The visit is getting plenty of ink in the mainstream press<\/strong>, including the Wall Street Journal<\/a>, and the New York Times<\/a>, both of which are leading with the angle that there is a \u201cshift\u201d in the relationship that will sideline human rights in favour of security cooperation. As you might expect, the visit is the top global story on Egypt this morning; we have more in Egypt in the News (below).<\/p>\n

Members of the House of Representatives accompanying El Sisi to DC are going to lobby<\/strong>Congress to designate the Ikhwan a terrorist organization<\/strong>, according to Ahram Gate<\/a>. The delegation, led by Deputy House Speaker Soliman Wahdan has already begun meeting with members of congress, Ahram Online<\/a> reports. The Trump administration appears to have cooled on designating the Ikhwan a terror group<\/strong>, with the NSC official telling reporters, \u201cSo the President is interested in hearing President al-Sisi\u2019s views on the Muslim Brotherhood issue. \u2026 We, along with a number of countries, have some concerns about various activities that the Muslim Brotherhood has conducted in the region. But that's going to be a discussion that will unfold between us and Egypt.\u201d<\/p>\n

El Sisi will also meet with the top officials at the World Bank and International Monetary <\/strong>Fund<\/strong>, where he will pitch further aid and cooperation on the economic front, according to Reuters<\/a>.<\/p>\n

El Sisi kicked off the trip by discussing Africa\u2019s 2030 Agenda for Sustainable <\/strong>Development<\/strong> with the President of the UN\u2019s General Assembly Peter Thompson on Saturday, according to an emailed statement.<\/p>\n

Activists and the Ikhwan have rolled out the red carpet in DC for El Sisi<\/strong>, unleashing a \u201ctweetstorm\u201d<\/a> and plastering some DC neighborhoods with posters to bring attention to Egypt\u2019s human rights record. You can sample the tweetstorm here<\/a>.<\/p>\n

Miss Thursday\u2019s deadline to file personal tax returns? You\u2019ve still got today. <\/strong>The Tax Authority has extended the deadline<\/a> to file tax returns to tonight at 8 PM CLT from this past Friday, 31 March. Companies have until the end of April to file.<\/p>\n

NI Capital will solicit offers this month from investment banks to manage share <\/strong>issuances of state-owned companies on the EGX<\/strong>, sources told Al Borsa<\/a>. There are no details regarding the issuances themselves or their timing. We got a hint of what could be in store as part of the government\u2019s IPO program after the Oil Ministry greenlit the process to offer up to 24% of Enppi\u2019s shares on the EGX last week<\/a>.<\/p>\n

Travel group Tui is reporting a decline in the number of travelers visiting North <\/strong>African destinations, including Egypt<\/strong>, in addition to Turkey, the Financial Times<\/a> reports. Terror threats and political instability appear to be behind this supposed rollback. This stands in contrast to a report last week that Tui rival Thomas Cook is seeing early signs that tourists are returning to Egypt and Turkey<\/a>.<\/p>\n

How do you know that tourism is trickling back?<\/strong> When a group of eight traveling to Gouna on a non-holiday weekend has to split up on three different aircraft because all flights to Hurghada are packed. Those of us who were lucky enough to make it on the Thursday evening flight out of Cairo were pleasantly surprised to find a planeload of happy Brits.<\/strong> Definitely a welcome change, even if it does mean we now have to book our flights well in advance.<\/p>\n

The customs exchange rate has been set at EGP 16.50 per greenback for April, <\/strong>down from EGP 17.00 per USD 1 the month before, Finance Minister Amr El Garhy told Reuters\u2019 Arabic service<\/a> on Thursday.<\/p>\n

Emerging market equities appear to have just posted their best quarter in five years<\/strong>, with the MSCI Emerging Markets index up 11.4% for the first three months of the year, the Financial Times reports<\/a>. \u201cCapital flows to emerging markets have continued to surge\u201d in the same period \u201cwith cross-border portfolio flows in March at their highest monthly level since January 2015,\u201d the newspaper adds in a separate piece<\/a>.<\/p>\n

** We\u2019re tight on space this morning, so we\u2019ll have the results of our 1Q2017 reader survey <\/strong>for you tomorrow morning.<\/strong> We\u2019ll have drawn the names of the folks we\u2019re inviting to lunch.<\/p>\n","protected":false},"excerpt":{"rendered":"

President Abdel Fattah El Sisi\u2019s DC marathon week kicked off on Saturday when he landed at Andrews Air Force Base. On the agenda: A reset of relations with the United States and meetings with top officials at the International Monetary Fund and the World Bank. The White House seems to want better ties almost as […]<\/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-648346","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":"7e753072-8d48-46ae-80dd-31ddced9502e","order":"0","is_powered_by":true,"story_type":"1","photo_url":"","photo_position":"above","related_issue":[648344],"teaser":"","voice_url":""},"yoast_head":"\nWhat we\u2019re tracking on 02 April 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\/04\/02\/what-were-tracking-on-02-april-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 02 April 2017\" \/>\n<meta property=\"og:description\" content=\"President Abdel Fattah El Sisi\u2019s DC marathon week kicked off on Saturday when he landed at Andrews Air Force Base. 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The CBE\u2019s aggressive 150 bps rate cut on Thursday was understandably the talk of Egypt\u2019s econo-sphere over the weekend (more on this in this morning\u2019s\u2026","rel":"","context":"In "What We're Tracking Today"","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":596523,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/07\/01\/what-were-tracking-on-1-july-2019\/","url_meta":{"origin":648346,"position":1},"title":"What we\u2019re tracking on 1 July 2019","author":"enterpriseam admin","date":"1 July 2019","format":false,"excerpt":"Welcome back, ladies and gentlemen \u2014 and welcome to the new fiscal year. We hope you all enjoyed the much-needed extended weekend as much as we did. We know that it\u2019s only been a little over three weeks since Eid, but that seems like a long time ago now \u2014\u2026","rel":"","context":"In "What We're Tracking Today"","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\/2016\/12\/35.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":559393,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/01\/20\/what-were-tracking-on-january-19-2021\/","url_meta":{"origin":648346,"position":2},"title":"What we\u2019re tracking on January 19 2021","author":"enterpriseam admin","date":"20 January 2021","format":false,"excerpt":"Good morning, everyone. A very smart Egyptian-American friend of ours recently likened us all to \u201cnon-voting subjects\u201d of a global American sphere of influence. Are you educated? A participant in this thing called global capitalism? Like the idea of democracy? Then your wagon is tied to Amreeka whether you like\u2026","rel":"","context":"In "What We're Tracking Today"","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":568661,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/01\/30\/what-were-tracking-on-30-january-2020\/","url_meta":{"origin":648346,"position":3},"title":"What we\u2019re tracking on 30 January 2020","author":"enterpriseam admin","date":"30 January 2020","format":false,"excerpt":"It\u2019s a huge morning for the business community with the largest-ever M&A in the country unfolding after Vodafone Egypt announced it was selling its domestic operation to Saudi Arabia\u2019s STC in a transaction worth just under USD 2.4 bn. It\u2019s a vote of confidence in Egypt by a foreign investor\u2026","rel":"","context":"In "What We're Tracking Today"","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":591872,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/12\/19\/what-were-tracking-on-19-december-2019\/","url_meta":{"origin":648346,"position":4},"title":"What we\u2019re tracking on 19 December 2019","author":"enterpriseam admin","date":"19 December 2019","format":false,"excerpt":"A little bit of good news before we get underway: The first charter flight to Sharm El Sheikh from the UK is due to land today after a four-year hiatus, Al Mal reports, citing unnamed sources. The UK lifted its flights to the resort destination in October. Oh, and Egypt\u2026","rel":"","context":"In "What We're Tracking Today"","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":594263,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/10\/24\/what-were-tracking-on-24-october-2019\/","url_meta":{"origin":648346,"position":5},"title":"What we\u2019re tracking on 24 October 2019","author":"enterpriseam admin","date":"24 October 2019","format":false,"excerpt":"The first Russia-Africa summit wraps up in Sochi today. The opening day saw lots of talk but little in the way of action. Discussions were had on trade and investment, the Russian Industrial Zone and the resumption of Russian flights to Sharm (no breakthrough there \u2014 we have more on\u2026","rel":"","context":"In "What We're Tracking Today"","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\/648346","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=648346"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/648346\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/648344"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=648346"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=648346"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=648346"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=648346"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=648346"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}