{"id":650350,"date":"2017-03-22T04:17:41","date_gmt":"2017-03-22T04:17:41","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2017\/03\/22\/what-were-tracking-on-22-march-2017\/"},"modified":"2017-03-22T04:17:41","modified_gmt":"2017-03-22T04:17:41","slug":"what-were-tracking-on-22-march-2017","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2017\/03\/22\/what-were-tracking-on-22-march-2017\/","title":{"rendered":"What we\u2019re tracking on 22 March 2017"},"content":{"rendered":"<p><strong>** What are the biggest challenges facing businesses in Egypt? Were the last three months good for doing business? <\/strong>Where do you and your business see the exchange rate stabilizing? Help us help you find out by <a href=\"https:\/\/www.surveymonkey.com\/r\/Enterprise1Q2017\">taking our quarterly reader poll for 1Q2017<\/a>. The survey would only take a couple of minutes to complete and, as always, you don\u2019t need to answer every question \u2014 but we\u2019ll be ridiculously grateful if you do. And taking the couple of minutes to fill it out will benefit everyone in the community by serving as a snap poll of sentiment.<\/p>\n<p><strong>Fill out the survey and maybe we\u2019ll take you to lunch at the Four Seasons Nile Plaza.<\/strong> We\u2019ll draw the names of two readers who filled in all survey questions and send them to lunch with the editors of Enterprise at the Four Seasons Nile Plaza (that\u2019s the one in Garden City). Each reader will be entitled to bring a friend or colleague. If you\u2019re interested, make sure you leave your full name, email address and best telephone number at the end of the survey. <strong>The poll closes next Tuesday<\/strong>, and we\u2019ll announce the results and the names of our lunch guests on Sunday, 2 April.<\/p>\n<p><a class=\"content-anchor\" id=\"tldr-story-01\"><\/a> <strong>Good morning, you\u2019ve just been stamp taxed:<\/strong> The Ismail cabinet approved imposing the 0.125% stamp tax on all capital market transactions, during its Tuesday meeting, a <a href=\"http:\/\/www.cabinet.gov.eg\/Arabic\/MediaCenter\/CabinetNews\/Pages\/cabinet-meeting-67.aspx\">cabinet statement said<\/a>. The tax will increase progressively to 0.175% over the coming three years. A 0.3% levy will be imposed on the buy- and sell-side of transactions where 33% or more of a company\u2019s shares are being sold. The decision \u2014 which will <a href=\"http:\/\/www.alborsanews.com\/2017\/03\/21\/998038\">still pass through<\/a> the Council of State and House of Representatives \u2014 is expected to <a href=\"https:\/\/enterprise.press\/stories\/2017\/03\/21\/cabinet-to-implement-stamp-tax-in-1-may\/\">come into effect on 1 May<\/a>. The cabinet also approved postponing the capital gains tax for three years from May 17, <a href=\"http:\/\/af.reuters.com\/article\/egyptNews\/idAFL5N1GY6G0\">Reuters<\/a> reports, citing the state news agency MENA.<\/p>\n<p><strong>We anxiously await seeing how this news plays out in the stock market today.<\/strong> In the days preceding the decision, the market reportedly lost EGP 3.7 bn, something <a href=\"https:\/\/enterprise.press\/stories\/2017\/03\/21\/ci-capital-expansion-post-sale-kramers-cut-off-from-all-but-oil-rice-sugar-cbes-lack-of-clarity-on-monetary-policy\/\">which perplexed<\/a> Deputy Finance Minister Amr El Monayer, who maintained that the stamp tax came as a surprise to no one.<\/p>\n<p><a class=\"content-anchor\" id=\"tldr-story-02\"><\/a> <strong>The UK sits, rolls over on command, and oh, joins the US in banning laptops, tablets, and other electronic devices on inbound flights from several Middle Eastern countries <\/strong>including Egypt, Turkey, Lebanon, Jordan, Tunisia and Saudi Arabia. Prime Minister Theresa May\u2019s spokesman James Slack told reporters in London on Tuesday that phones larger than normal-sized mobiles or smartphones will also be forbidden. \u201cWe have been in close contact with the Americans throughout this process,\u201d Slack said as he announced the details, which earmark a different list of countries from those on which restrictions were imposed by the U.S. earlier on Tuesday. \u201cWe\u2019ve spoken closely, but we\u2019ve each taken our own decisions,\u201d (our entire staff burst out laughing at that last point). According to <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2017-03-21\/u-k-joins-u-s-ban-on-laptops-in-cabins-on-some-mideast-flights\">Bloomberg<\/a>, the measures will affect 14 airlines: EgyptAir, British Airways Plc, Monarch, Thomas Cook, Thomson Airways Ltd., Turkish Airlines, Pegasus Airlines, Atlas Global, Middle East, Royal Jordanian, Saudia, EasyJet Plc, Tunisian, and Jet2.com.<\/p>\n<p><strong>...As for the ban by daddy Amrika, Egyptian authorities will begin enforcing the ban on flights from Cairo to the US on Friday 24 March,<\/strong> sources at Cairo Airport told <a href=\"http:\/\/english.ahram.org.eg\/NewsContent\/1\/64\/261388\/Egypt\/Politics-\/Egypt-to-comply-with-US-ban-on-laptops-in-cabins-s.aspx\">Ahram Online<\/a>. EgyptAir <a href=\"https:\/\/www.facebook.com\/EGYPTAIR\/photos\/a.188322354517272.54307.126495567366618\/1641899942492832\/?type=3&theater\">released a statement<\/a> confirming the ban on Tuesday.<\/p>\n<p><strong>How long will the ban take place? It will be in place initially for nearly seven months before it is reviewed<\/strong>, <a href=\"http:\/\/www.reuters.com\/article\/us-usa-airlines-electronics-emirates-idUSKBN16S0KG\">Reuters<\/a> reports. An Emirates spokeswoman said on Tuesday the airline understood that \"the directive comes into effect on 25 March 2017 and is valid until 14 October 2017.\" A U.S. Department of Homeland Security spokeswoman termed that date \"a placeholder for review\" of the rule. The stated reason for all this mess is an unspecified security threat. As <a href=\"https:\/\/enterprise.press\/stories\/2017\/03\/21\/what-were-tracking-on-21-march-2017\/\">we noted yesterday<\/a>, passengers from 10 international airports from Cairo, Amman, Kuwait City, Doha, Dubai, Istanbul, Abu Dhabi, Casablanca, Morocco; Riyadh and Jeddah, Saudi Arabia can expect to park their valuable devices with their checked baggage. We respectfully urge all baggage handlers at these airports to be gentle.<\/p>\n<p><strong>Thank you, Fed, for all the help:<\/strong> US equities are looking expensive after the Trump reflation trade and asset inflation driven by the Fed, making EM asset classes six of the 12 best performing asset classes so far this year. Analysts are even overlooking EMs\u2019 propensity for excess, with Egypt being a prime example as the USD 4 bn eurobond issuance was three times oversubscribed, according to the <a href=\"https:\/\/www.ft.com\/content\/c552695c-0d54-11e7-a88c-50ba212dce4d\">Financial Times<\/a>.<\/p>\n<p>And speaking of EM bond sales, <strong>Saudi Aramco is seeking to raise about USD 2 bn in its debut bond sale in 2Q17<\/strong>, ahead of its planned IPO. Aramco will issue SAR-denominated sukuks which may be privately placed with investors, anonymous sources tell <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2017-03-21\/saudi-aramco-said-to-plan-2-billion-debut-bond-ahead-of-ipo\">Bloomberg<\/a>.<\/p>\n<p><strong>The Egyptian-Lebanese Business forum will be held today in Cairo<\/strong>, headed by Prime Ministers Sherif Ismail and Saad Al Hariri, with 200 companies participating, <a href=\"http:\/\/www.alborsanews.com\/2017\/03\/21\/997724\">Al Borsa<\/a> reports.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>** What are the biggest challenges facing businesses in Egypt? Were the last three months good for doing business? Where do you and your business see the exchange rate stabilizing? Help us help you find out by taking our quarterly reader poll for 1Q2017. The survey would only take a couple of minutes to complete [&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-650350","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":"741ac0d1-ec0d-403d-98ac-72ce4f1679c2","order":"0","is_powered_by":true,"story_type":"1","photo_url":"","photo_position":"above","related_issue":[650348],"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 22 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\/22\/what-were-tracking-on-22-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 22 March 2017\" \/>\n<meta property=\"og:description\" content=\"** What are the biggest challenges facing businesses in Egypt? 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Take our very short survey, in which we ask you which sector you would most like to see us explore in a dedicated weekly vertical. You can choose from the seven sectors we have included or name a sector yourself. We would also like\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":650411,"url":"https:\/\/enterpriseam.com\/egypt\/2017\/03\/23\/what-were-tracking-on-22-march-2017-2\/","url_meta":{"origin":650350,"position":1},"title":"What we\u2019re tracking on 22 March 2017","author":"enterpriseam admin","date":"23 March 2017","format":false,"excerpt":"It\u2019s a slow news day in Egypt and around the world. Journalists are preoccupied with yesterday\u2019s terror attack outside the UK parliament in London, which killed five and injured at least 40 (coverage in Speed Round, below), and suggestions that US intelligence may have \u201cincidentally\u201d picked up communications 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":598117,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/05\/15\/598117\/","url_meta":{"origin":650350,"position":2},"title":"WANT TO HAVE IFTAR WITH\u2026","author":"enterpriseam admin","date":"15 May 2019","format":false,"excerpt":"WANT TO HAVE IFTAR WITH US? Take our very short survey, in which we ask you which sector you would most like to see us explore in a dedicated weekly vertical. You can choose from the seven sectors we have included or name a sector yourself. We would also like\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":650470,"url":"https:\/\/enterpriseam.com\/egypt\/2017\/03\/26\/what-were-tracking-on-26-march-2017\/","url_meta":{"origin":650350,"position":3},"title":"What we\u2019re tracking on 26 March 2017","author":"enterpriseam admin","date":"26 March 2017","format":false,"excerpt":"** Take our quarterly reader survey and we\u2019ll take at least two of you to lunch\u2026 What are the biggest challenges facing businesses in Egypt? Were the last three months good for doing business? Where do you and your business see the exchange rate stabilizing? Help us help you find\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":650298,"url":"https:\/\/enterpriseam.com\/egypt\/2017\/03\/21\/what-were-tracking-on-21-march-2017\/","url_meta":{"origin":650350,"position":4},"title":"What we\u2019re tracking on 21 March 2017","author":"enterpriseam admin","date":"21 March 2017","format":false,"excerpt":"** What are the biggest challenges facing businesses in Egypt? Were the last three months good for doing business? Where do you and your business see the exchange rate stabilizing? Help us help you find out by taking Enterprise\u2019s quarterly reader poll for 1Q2017. The survey would only take a\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":580932,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/01\/29\/this-evening-cib-gets-central-banks-blessing-to-complete-mayfair-acquisition-take-our-2022-enterprise-reader-survey\/","url_meta":{"origin":650350,"position":5},"title":"THIS EVENING: CIB gets central banks\u2019 blessing to complete Mayfair acquisition + Take our 2022 Enterprise Reader Survey","author":"enterpriseam admin","date":"29 January 2023","format":false,"excerpt":"Good afternoon, wonderful people. We\u2019re now in the throes of that dreaded two-month stretch without any holidays or long weekends to speak of. 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