{"id":649863,"date":"2017-03-12T04:13:43","date_gmt":"2017-03-12T04:13:43","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2017\/03\/12\/what-were-tracking-on-12-march-2017\/"},"modified":"2017-03-12T04:13:43","modified_gmt":"2017-03-12T04:13:43","slug":"what-were-tracking-on-12-march-2017","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2017\/03\/12\/what-were-tracking-on-12-march-2017\/","title":{"rendered":"What we\u2019re tracking on 12 March 2017"},"content":{"rendered":"<p><strong>Good morning from Cairo<\/strong>, where we\u2019re happy this morning to mark both our return home from Dubai, where we attended the EFG Hermes One on One, and our 600th weekday edition of Enterprise.<\/p>\n<p><strong>The best news we\u2019ve read in ages: Month-on-month inflation is cooling<\/strong>, a key indicator we suggested last month that you folks look for. We have chapter-and-verse in Speed Round, below.<\/p>\n<p><strong>Random observation from the road: China loves Egypt. <\/strong>We <a href=\"https:\/\/enterprise.press\/stories\/2017\/02\/20\/is-the-tourism-industry-returning-to-growth\/\">reported in February<\/a> that volumes to Egypt were up 58% last year over 2015, a development that came after Beijing named Egypt a preferred market. Well, it\u2019s very real: Emirates Airlines was running full DXB-CAI return flights both days we were in the air, almost entirely thanks to hundreds of middle-aged and older Chinese tourists heading to Omm El Donia on package tours. Others flying EgyptAir to the One on One also reported heavy volumes of Chinese holidaymakers.<\/p>\n<p><strong>Finance Minister Amr El Garhy has been meeting with a team from the International <\/strong><strong>Monetary Fund in London<\/strong> over the weekend to discuss the government\u2019s progress on economic reforms. The sit-down comes ahead of a scheduled visit by an IMF delegation in April to review progress on the reforms to which we\u2019ve committed before the fund disburses the second tranche of the USD 12 bn bailout package. El Garhy tells <a href=\"http:\/\/ara.reuters.com\/article\/businessNews\/idARAKBN16G2VK?sp=true\">Reuters\u2019 Arabic<\/a> service that he is also meeting with London investment banks to promote investing in Egyptian paper.<\/p>\n<p><strong>El Garhy added that he will present the FY2017-18 budget to the cabinet economic<\/strong><strong>group sometime this month<\/strong>. El Garhy had previously said the IMF delegation had postponed its visit to April from March to allow the Finance Ministry to iron out its budget for the next fiscal year. Policy watchers will scour the budget looking for signs that the reform program is moving forward. Last week, a bid by Supply Minister Ali El Moselhy to reform a small facet of the bread subsidy program was reversed after <a href=\"https:\/\/enterprise.press\/stories\/2017\/03\/08\/protests-break-out-across-egypt-following-el-moselhys-cuts-to-bread-point-system\/\">protests erupted<\/a> in multiple governorates. On the flipside, sources from the Electricity Ministry have been <a href=\"http:\/\/www.shorouknews.com\/news\/view.aspx?cdate=11032017&id=3406f453-0dfe-4a9d-9d50-c760ace64d1b\">telling the local press<\/a> that there is no turning back from raising electricity prices in July.<\/p>\n<p>Meanwhile, Prime Minister Sherif Ismail said that <strong>spending will break EGP 1.1 tn in the<\/strong><strong>new budget year<\/strong>,up from EGP 975 bn in FY2016-17, according to <a href=\"http:\/\/www.almalnews.com\/Pages\/StoryDetails.aspx?ID=325758\">Al Mal<\/a>. <strong>GDP is anticipated to come in at EGP 4 tn, <\/strong>Ismail said. Deputy Finance Minister Mohamed Maait had said last week that budget spending will rise in part because the Finance Ministry is looking to make good on the government\u2019s constitutionally mandated minimum spending on health and education.<\/p>\n<p><strong>Public service announcement #1: <\/strong>This lousy weather we had this past weekend is due to continue this morning. Quoting the National Meteorological Authority, <a href=\"http:\/\/english.ahram.org.eg\/NewsContent\/1\/64\/260710\/Egypt\/Politics-\/Rain,-sand-winds-to-persist-in-Egypt-Sunday.aspx\">Ahram Online<\/a> tells us that, \u201cRain will be dominant in the north of the country, reaching to Cairo and Sinai along with wind carrying dust that could limit drivers\u2019 visibility.\u201d<\/p>\n<p><strong>PSA #2: Time changes in the United States and Canada this morning<\/strong>, so add an hour to any time quoted to you in the US of A or the Great White North. Clocks move ahead an hour starting at 2am. Time won\u2019t change in the United Kingdom until 26 March, and <strong>Egypt no longer observes daylight savings time<\/strong>.<\/p>\n<p><strong>PSA #3: <\/strong>There are something on the order of <strong>76 days left until Ramadan. <\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Good morning from Cairo, where we\u2019re happy this morning to mark both our return home from Dubai, where we attended the EFG Hermes One on One, and our 600th weekday edition of Enterprise. The best news we\u2019ve read in ages: Month-on-month inflation is cooling, a key indicator we suggested last month that you folks look [&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-649863","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":"0e1d7854-9889-4c5a-9182-d18e93d82c03","order":"0","is_powered_by":true,"story_type":"1","photo_url":"","photo_position":"above","related_issue":[649861],"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 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\/12\/what-were-tracking-on-12-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 12 March 2017\" \/>\n<meta property=\"og:description\" content=\"Good morning from Cairo, where we\u2019re happy this morning to mark both our return home from Dubai, where we attended the EFG Hermes One on One, and our 600th weekday edition of Enterprise. 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The biggest story of the day is private equity giant Actis\u2019 takeover of two funds formerly managed by Abraaj. The takeover, which is the culmination of a year of negotiations, is one of 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":598736,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/06\/03\/what-were-tracking-on-03-june-2019\/","url_meta":{"origin":649863,"position":2},"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":576556,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/11\/30\/what-were-tracking-on-30-november-2020\/","url_meta":{"origin":649863,"position":3},"title":"What we\u2019re tracking on 30 November 2020","author":"enterpriseam admin","date":"30 November 2020","format":false,"excerpt":"Good morning, everyone, and welcome to the last day of November. We\u2019re simultaneously a bit freaked out that the year is ending and anxiously awaiting the end of 2020.Thank you to each and every one of you who wrote in yesterday about our new look. We\u2019re delighted you\u2019re happy \u2014\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":592822,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/11\/07\/what-were-tracking-on-7-november-2019\/","url_meta":{"origin":649863,"position":4},"title":"What we\u2019re tracking on 7 November 2019","author":"enterpriseam admin","date":"7 November 2019","format":false,"excerpt":"We\u2019re heading into a long weekend: Banks and the EGX are taking Sunday off in observance of Prophet Mohamed\u2019s birthday, which falls on Saturday. We\u2019re following suit and will be back in your inboxes at the usual time on Monday morning.That said: We have plenty of news in a packed\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":559194,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/01\/13\/what-were-tracking-on-13-january-2021\/","url_meta":{"origin":649863,"position":5},"title":"What we\u2019re tracking on 13 January 2021","author":"enterpriseam admin","date":"13 January 2021","format":false,"excerpt":"We have plenty of news for you on this fine Wednesday morning, starting with a surprise announcement from the Central Bank of Egypt that the nation\u2019s banks cannot distribute cash dividends for fiscal year 2020, though they may issue dividends in the form of stock. The decision is meant to\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\/649863","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=649863"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/649863\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/649861"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=649863"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=649863"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=649863"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=649863"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=649863"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}