{"id":649603,"date":"2017-03-05T04:31:12","date_gmt":"2017-03-05T04:31:12","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2017\/03\/05\/what-were-tracking-on-05-march-2017\/"},"modified":"2017-03-05T04:31:12","modified_gmt":"2017-03-05T04:31:12","slug":"what-were-tracking-on-05-march-2017","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2017\/03\/05\/what-were-tracking-on-05-march-2017\/","title":{"rendered":"What we\u2019re tracking on 05 March 2017"},"content":{"rendered":"<p><a class=\"content-anchor\" id=\"tldr-story-01\"><\/a> <strong>Hosni is out:<\/strong> Former President Hosni Mubarak\u2019s was practically acquitted of charges of involvement in the killing of protesters during the 2011 uprising, after the Court of Cassation rejected an appeal by prosecutors on Thursday, allowing an acquittal verdict from 2014 to stand. The judge also rejected a civil petition for compensation from families of some of the 239 protesters killed during the uprising, the <a href=\"https:\/\/www.bloomberg.com\/politics\/articles\/2017-03-02\/egypt-s-mubarak-back-in-court-over-protester-deaths\">Associated Press<\/a> reports. During the hearing, Mubarak denied the charges when he was read them, according to <a href=\"http:\/\/www.reuters.com\/article\/us-egypt-mubarak-idUSKBN1691AR\">Reuters<\/a>. He was originally sentenced to life in prison in 2012 for conspiring to murder 239 demonstrators, but an appeals court ordered a retrial which was then dropped and appealed again by prosecution, reaching the Court of Cassation.<\/p>\n<p><strong>Mubarak does not face any other charges and is technically free to go<\/strong>, but it was unclear whether he would leave the hospital, where he has been under informal house arrest in recent years. In his first statement since the acquittal, Mubarak tells an extremely annoying, giggly reporter from Sada El Balad that he wants to go \u201chome,\u201d but \u201cnot Sharm El Sheikh\u201d (<a href=\"https:\/\/www.youtube.com\/watch?v=0mirFVCuZGs\">watch<\/a>; runtime: 1:33). Mubarak, who seemed as annoyed as us by the interviewer, brushed off all other questions on chances of further court appearances or who was responsible for the protester deaths. Sada El Balad also has footage of Mubarak being flown by helicopter from his hospital to the courthouse (<a href=\"https:\/\/www.youtube.com\/watch?v=_hu_ljoO7Ks\">watch<\/a>, runtime: 4:40).<\/p>\n<p><strong>Foreign Minister Sameh Shoukry is heading to Brussels today<\/strong> for a one-day visit, during which he will meet with the EU\u2019s 28 foreign ministers, according to the <a href=\"http:\/\/www.sis.gov.eg\/Story\/108087?lang=en-us\">State Information Service<\/a>. The <strong>details of a Turkey-style migration pact with the EU<\/strong> will likely take center-stage in Shoukry\u2019s discussions on cooperation with the European leaders. Our chances for an agreement look good as German Chancellor Angela Merkel \u2014 who was in town over the weekend \u2014 promised to provide additional aid in Egypt in return for assistance in stemming the flow of illegal migrants to Europe (we have more on the Speed Round).<\/p>\n<p><strong>One thing to look forward to this week is<\/strong> <a href=\"https:\/\/oneonone2017.efghermes.com\/pages\/home.aspx\"><strong>EFG Hermes<\/strong><\/a>\u2019 <strong>13th annual One on One<\/strong> conference \u2014 the region\u2019s leading investor conference which takes place in Dubai tomorrow and will continue until Wednesday.<\/p>\n<p>Something which should be looked at during the conference <strong>is HSBC Global Research\u2019s <\/strong><a href=\"https:\/\/www.research.hsbc.com\/R\/10\/NpmRmrr\"><strong>latest report for Egypt<\/strong><\/a><strong> (pdf) which suggests that 2017 \u201cthe year of rebalancing, not the year of recovery.\u201d <\/strong>While the country has made progress on each the conditions laid out by the USD 12 bn IMF facility, the real challenge will be sustaining the momentum and commitment needed to follow through on these changes. Recent developments \u2014 such as the EGP float, the introduction of the value-added tax as well as other structural policy and fiscal reforms \u2014 has led HSBC to revise its macro forecasts for Egypt, seeing the <strong>exchange rate stabilize at EGP 18 per greenback<\/strong>, down from EGP 20. \u201cIt is the adjustment in the FX regime that has been the most striking evidence that the first phase of the reform process has substance.\u201d Growth forecasts for 2018 also saw an upward revision, with expectations seeing <strong>reserves rising on the back of higher foreign currency inflows than originally estimated. <\/strong>Much remains to be done, however, and we must remain cautiously optimistic as we weather this difficult transition period, especially as the economy \u201cmust pay the bill for six years\u201d of decline.<\/p>\n<p><strong>We\u2019ve also picked reports over the weekend that Trump might be holding a summit on fighting Daesh this month<\/strong>. Diplomatic sources confirmed to <a href=\"http:\/\/www.arabnews.com\/node\/1062971\/world\">Arab News<\/a> that plans for the summit on a strategy for a combined anti-Daesh coalition had been in the works for weeks and could take place as early as 21 March. Egypt will be among the 60 countries expected to participate in the ministerial-level conference.<\/p>\n<p><strong>Patterson making a comeback?<\/strong> Former US ambassador to Egypt Anne Patterson had been tapped by US Defense Secretary as his undersecretary of defense for policy, <a href=\"http:\/\/www.politico.com\/story\/2017\/03\/jim-mattis-appointment-white-house-pushback-anne-patterson-235633\">Politico<\/a> reports. The move is unsurprisingly unpopular with the White House, as Patterson gained a reputation for being an Ikhwani sympathizer here in Egypt during her tenure as ambassador.<\/p>\n<p><strong>Traffic Alert: <\/strong>Traffic coming from the Alex Desert Road into Lebanon Square through the Mehwar (26 July corridor) will be rerouted for the next 45 days, while authorities shut down the highway for renovations, <a href=\"http:\/\/www.youm7.com\/story\/2017\/3\/4\/%D8%A7%D9%84%D9%85%D8%B1%D9%88%D8%B1-%D8%A5%D8%BA%D9%84%D8%A7%D9%82-%D9%85%D8%B7%D9%84%D8%B9-%D9%85%D8%AD%D9%88%D8%B1-26-%D9%8A%D9%88%D9%84%D9%8A%D9%88-%D9%85%D9%86-%D8%A5%D8%B3%D9%83%D9%86%D8%AF%D8%B1%D9%8A%D8%A9-%D8%A7%D9%84%D8%B5%D8%AD%D8%B1%D8%A7%D9%88%D9%89-%D9%84%D9%85%D9%8A%D8%AF%D8%A7%D9%86\/3129228\">Youm7 reports<\/a>. Take heed, those who hail from Six October or do the Smart Village commute.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Hosni is out: Former President Hosni Mubarak\u2019s was practically acquitted of charges of involvement in the killing of protesters during the 2011 uprising, after the Court of Cassation rejected an appeal by prosecutors on Thursday, allowing an acquittal verdict from 2014 to stand. The judge also rejected a civil petition for compensation from families of [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":649604,"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-649603","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-what-were-tracking-today","tag-enterpriseam","tag-what-were-tracking-today","wpautop","entry"],"acf":{"mongo_id":"a34fd5be-e290-4af9-896c-293e975089ee","order":"0","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2017\/3\/819.jpg","photo_position":"above","related_issue":[649601],"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 05 March 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\/03\/05\/what-were-tracking-on-05-march-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 05 March 2017\" \/>\n<meta property=\"og:description\" content=\"Hosni is out: Former President Hosni Mubarak\u2019s was practically acquitted of charges of involvement in the killing of protesters during the 2011 uprising, after the Court of Cassation rejected an appeal by prosecutors on Thursday, allowing an acquittal verdict from 2014 to stand. 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The EU court renewed in 2017 and 2018 sanctions that were imposed on Mubarak and his family for alleged embezzlement of state funds\u2026","rel":"","context":"In &quot;Egypt Politics + Economics&quot;","block_context":{"text":"Egypt Politics + Economics","link":"https:\/\/enterpriseam.com\/egypt\/category\/egypt-politics-economics\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":569369,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/02\/23\/court-acquits-all-defendants-in-al-watany-bank-case\/","url_meta":{"origin":649603,"position":1},"title":"Court acquits all defendants in Al Watany Bank case","author":"enterpriseam admin","date":"23 February 2020","format":false,"excerpt":"Court acquits all defendants in Al Watany Bank case: The Cairo Criminal Court has cleared all defendants of charges of stock market manipulation and insider trading stemming from the sale of Al Watany Bank of Egypt to the National Bank of Kuwait in 2007, reports Ahram Gate. Among those acquitted\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\/2020\/2\/280.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":573026,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/07\/16\/cairo-court-upholds-acquittal-of-mubarak-era-interior-minister-on-illicit-gains-charges\/","url_meta":{"origin":649603,"position":2},"title":"Cairo court upholds acquittal of Mubarak-era interior minister on illicit gains charges","author":"enterpriseam admin","date":"16 July 2020","format":false,"excerpt":"The Court of Cassation has upheld the acquittal of Habib El Adly, former president Hosni Mubarak\u2019s longest-serving interior minister, on charges of illicit gains, Ahram Gate reports.","rel":"","context":"In &quot;Egypt Politics + Economics&quot;","block_context":{"text":"Egypt Politics + Economics","link":"https:\/\/enterpriseam.com\/egypt\/category\/egypt-politics-economics\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":631686,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/03\/25\/administrative-court-overturns-ruling-against-mubarak-nazif-adly-over-2011-telecom-shutdown\/","url_meta":{"origin":649603,"position":3},"title":"Administrative Court overturns ruling against Mubarak, Nazif, Adly over 2011 telecom shutdown","author":"enterpriseam admin","date":"25 March 2018","format":false,"excerpt":"The Supreme Administrative Court issued a decision yesterday to overturn a previous ruling to fine former president Hosni Mubarak along with former prime minister Ahmed Nazif and ex-interior minister Habib El Adly some EGP 540 mn for cutting electronic communications during the 25 January uprising, Al Ahram reports. The initial\u2026","rel":"","context":"In &quot;Egypt Politics + Economics&quot;","block_context":{"text":"Egypt Politics + Economics","link":"https:\/\/enterpriseam.com\/egypt\/category\/egypt-politics-economics\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":605296,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/12\/27\/two-of-egypts-former-presidents-come-face-to-face-in-court\/","url_meta":{"origin":649603,"position":4},"title":"Two of Egypt\u2019s former presidents come face-to-face in court","author":"enterpriseam admin","date":"27 December 2018","format":false,"excerpt":"Two of Egypt\u2019s former presidents came face-to-face in court yesterday when Hosni Mubarak testified against Mohamed Morsi during the latter\u2019s retrial for allegedly organizing prison breaks in 2011, according to Reuters. Mubarak said that Egypt\u2019s border with Gaza was breached during the uprising that ousted him from power, allowing some\u2026","rel":"","context":"In &quot;EGYPT IN THE NEWS&quot;","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\/2018\/12\/3631.jpeg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":563665,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/07\/12\/court-upholds-life-sentences-for-ikhwan-leaders\/","url_meta":{"origin":649603,"position":5},"title":"Court upholds life sentences for Ikhwan leaders","author":"enterpriseam admin","date":"12 July 2021","format":false,"excerpt":"This morning in the pages of the foreign press: The Court of Cassation has upheld the life sentences handed down to 10 Muslim Brotherhood leaders, including the outlawed group\u2019s head Mohamed Badie, on charges of killing policemen and organizing jail breaks during the 2011 uprising, state-owned MENA news agency reported\u2026","rel":"","context":"In &quot;EGYPT IN THE NEWS&quot;","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\/649603","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=649603"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/649603\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/649601"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/649604"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=649603"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=649603"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=649603"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=649603"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=649603"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}