{"id":651438,"date":"2017-02-13T04:04:43","date_gmt":"2017-02-13T04:04:43","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2017\/02\/13\/what-were-tracking-on-13-february-2017\/"},"modified":"2017-02-13T04:04:43","modified_gmt":"2017-02-13T04:04:43","slug":"what-were-tracking-on-13-february-2017","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2017\/02\/13\/what-were-tracking-on-13-february-2017\/","title":{"rendered":"What we\u2019re tracking on 13 February 2017"},"content":{"rendered":"

Will we see the new cabinet lineup today? <\/strong>The House of Representatives will vote on the composition of the next Council of Ministers in plenary session tomorrow, MP Moustafa Bakry tells MBC Misr 2\u2019s Sabahak Masry. If MPs were to reject the lineup, Prime Minister Sherif Ismail would have the option of shuffling the deck once more or sticking with the current cabinet. Ismail was reportedly in meetings with President Abdel Fattah El Sisi to agree on the final list yesterday, Al Shorouk<\/a> reports.<\/p>\n

<\/a>Finance Minister Amr El-Garhy expects inflation to peak by the end of 1Q17<\/strong>, Bloomberg<\/a>reports. In an interview with Bloomberg TV on the sidelines of the Second Arab Fiscal Forum in Dubai, El Garhy said, \u201cIt is all resulting from supply shocks rather than demand driven kind of inflation. We knew that this is still peaking when it comes to inflation, we expect this to happen.\u201d Headline inflation rose to 29.6% last month<\/a>, according to state statistics agency CAPMAS.<\/p>\n

El Garhy is right \u2014 which brings us to one of the smartest guys we know, who growled at us yesterday that year-on-year inflation is meaningless \u2014 we should all be looking at month-on-month right now<\/strong>. We think he has a point. The one-time shock to the system that was devaluation on 3 November is a breakpoint that makes y-o-y comparisons essentially meaningless until November 2017.<\/p>\n

Also in Dubai yesterday, Egypt\u2019s value-added tax (VAT) and reform program received props from IMF Director Christine Lagarde<\/strong>, who spoke about the need for more focused tax policies and diverse revenue streams to really aid GDP growth in the region, according to Gulf News<\/a>. \u201cEgypt, for example, last year approved the replacement of the old general sale tax with a new VAT,\u201d Lagarde said. \u201cOnce fully implemented, the new VAT will raise 1.5% of GDP more in revenue than the old tax.\u201d Tap here for the full text<\/a> of Lagarde\u2019s speech at the Forum yesterday.<\/p>\n

Finally, Dubai\u2019s ruler Sheikh Mohammed bin Rashid Al Maktoum praised UAE\u2019s special relations with Egypt<\/strong> at the World Government Summit held concurrently with the fiscal forum yesterday, describing the latter as \u201cthe heart and soul of the Arab world<\/strong>,\u201d Arab News<\/a> reports.<\/p>\n

An annual exercise in group self-pleasure by and for music industry hacks \u2014 commonly known as \u201cthe Grammys\u201d<\/strong> \u2014 took place last night. Yes, rock n\u2019 roll is still dead (in the mind of industry execs, at least), but hip-hop is slowly catching up, as Drake\u2019s horrendous Hotline Bling beat out newcomer Chance the Rapper\u2019s No Problem for Best Rap Song. You can catch the Guardian\u2019s live blog<\/a> for the rest.<\/p>\n

\u2018Tis the day before Valentine\u2019s Day. <\/strong>Please tell us you\u2019re not staying home on red silk sheets with Michael Bolton<\/a> on Netflix. It\u2019s meant to be a comedy, Wired tells us<\/a>, which suggests it may be safer to read about it than to watch it. As one of our former colleagues was wont to say: That which has been seen cannot be unseen. <\/strong>On a perhaps more serious note: You may wish to give thought to a gift for your partner; forwarding a link to the Michael Bolton special on El Whats does not count.<\/p>\n","protected":false},"excerpt":{"rendered":"

Will we see the new cabinet lineup today? The House of Representatives will vote on the composition of the next Council of Ministers in plenary session tomorrow, MP Moustafa Bakry tells MBC Misr 2\u2019s Sabahak Masry. If MPs were to reject the lineup, Prime Minister Sherif Ismail would have the option of shuffling the deck […]<\/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-651438","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":"ac663607-5314-4da5-85a5-7bb250da12d4","order":"0","is_powered_by":true,"story_type":"1","photo_url":"","photo_position":"above","related_issue":[651436],"teaser":"","voice_url":""},"yoast_head":"\nWhat we\u2019re tracking on 13 February 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\/02\/13\/what-were-tracking-on-13-february-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 13 February 2017\" \/>\n<meta property=\"og:description\" content=\"Will we see the new cabinet lineup today? The House of Representatives will vote on the composition of the next Council of Ministers in plenary session tomorrow, MP Moustafa Bakry tells MBC Misr 2\u2019s Sabahak Masry. 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Pharos Holdings will be holding\u2026","rel":"","context":"In "What We\u2019re Tracking This Week"","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":638778,"url":"https:\/\/enterpriseam.com\/egypt\/2017\/10\/15\/what-were-tracking-this-week-113\/","url_meta":{"origin":651438,"position":2},"title":"What we\u2019re tracking this week","author":"enterpriseam admin","date":"15 October 2017","format":false,"excerpt":"Our friends at AmCham and EFG Hermes will host a special lunch in New York for Investment Minister Sahar Nasr and Finance Minister Amr El Garhy on Monday, 16 October. The gathering will feature keynotes from both ministers, according to a statement (pdf). In addition to EFG Hermes boss Karim\u2026","rel":"","context":"In "What We\u2019re Tracking This Week"","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":651144,"url":"https:\/\/enterpriseam.com\/egypt\/2017\/02\/06\/what-were-tracking-this-week-203\/","url_meta":{"origin":651438,"position":3},"title":"What we\u2019re tracking this week","author":"enterpriseam admin","date":"6 February 2017","format":false,"excerpt":"Prime Minister Sherif Ismail deflected rumors that candidates for cabinet posts are turning down the opportunity to serve because of the low salary paid to ministers, Al Shorouk reported. There\u2019s still no word on when the new lineup will be announced; a spokesman for Ismail said late last week that\u2026","rel":"","context":"In "What We\u2019re Tracking This Week"","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":649863,"url":"https:\/\/enterpriseam.com\/egypt\/2017\/03\/12\/what-were-tracking-on-12-march-2017\/","url_meta":{"origin":651438,"position":4},"title":"What we\u2019re tracking on 12 March 2017","author":"enterpriseam admin","date":"12 March 2017","format":false,"excerpt":"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\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":638838,"url":"https:\/\/enterpriseam.com\/egypt\/2017\/10\/16\/what-were-tracking-on-16-october-2017\/","url_meta":{"origin":651438,"position":5},"title":"What we\u2019re tracking on 16 October 2017","author":"enterpriseam admin","date":"16 October 2017","format":false,"excerpt":"Prime Minister Sherif Ismail is in good health and is maintaining a normal schedule, the Cabinet Information Decision Support Center said yesterday in a statement. 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