{"id":661710,"date":"2025-03-04T00:00:00","date_gmt":"2025-03-04T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2025\/03\/04\/its-pmi-day-3\/"},"modified":"2025-03-04T00:00:00","modified_gmt":"2025-03-04T00:00:00","slug":"its-pmi-day-3","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2025\/03\/04\/its-pmi-day-3\/","title":{"rendered":"It\u2019s PMI day"},"content":{"rendered":"

Good <\/strong>morning<\/strong>, all.<\/strong> It appears the Ramadan news slowdown is finally upon us, but we expect things to pick up later today following the anticipated emergency Arab League summit on Gaza. <\/p>\n

So, when do we eat? <\/strong>Maghrib prayers are at 5:56pm in the capital, and you\u2019ll have until 4:50am tomorrow to hydrate and caffeinate ahead of fajr.<\/p>\n

PSA- <\/p>\n

WEATHER- <\/strong>It\u2019s another sunny morning in Cairo, with a high of 22\u00b0C and a low of 12\u00b0C, according to our favorite weather app.<\/p>\n

It\u2019s a little colder in Alexandria<\/strong>, with a high of 20\u00b0C and a low of 12\u00b0C.<\/p>\n

** DID YOU KNOW that we now cover <\/strong>Saudi Arabia<\/a><\/strong> and the <\/strong>UAE<\/a><\/strong>?<\/strong><\/p>\n

** Were you forwarded this email?<\/strong> Tap or click here<\/a> to get your own copy delivered every weekday before 7am Cairo time \u2014 without charge.<\/p>\n

\n

HAPPENING TODAY-<\/p>\n

<\/a> #1- Region<\/strong>al diplomatic heavyweights are in Cairo for an<\/strong> emergency Gaza-focused Arab<\/a><\/strong>League summit<\/a><\/strong> that is taking place as Israel blocks desperately needed aid from entering the enclave in a bid to pressure Hamas into accepting changes to the already agreed on ceasefire agreement. We dive into what can be expected from the summit in the news well, below. <\/strong><\/p>\n

\n

\n

<\/a> #2- Non-oil <\/strong>private sector activity to stay in the green for the second consecutive month? <\/strong>Economists, policymakers, and private sector players will be eagerly awaiting the country\u2019s PMI figures for February, set to be released shortly by S&P Global.<\/p>\n

There\u2019s reason to be hopeful<\/strong>, with Egypt\u2019s non-oil private activity seeing its strongest expansion<\/a> in over four years in January driven by solid growth in output and sales volumes. The headline PMI reading rose to 50.7 in January, up from 48.1 in December, marking the second expansion since November 2020.<\/p>\n

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Get Enterprise<\/b> daily <\/h4>\n<\/p><\/div>\n

The roundup of news and trends that move your markets and shape corporate agendas delivered straight to your inbox.<\/p>\n

Subscribe here<\/a> <\/div>\n<\/p><\/div>\n<\/p><\/div>\n

\n

THE BIG STORY ABROAD-<\/p>\n

<\/a> Leav<\/strong>ing no room for talks, Trump officially slapped 25% tariffs on Ca<\/strong>nada and<\/strong> Mexico <\/strong>starting today.<\/strong> The levies \u2014 initially postponed<\/a> after negotiations with Mexican President Claudia Sheinbaum and Canadian Prime Minister Justin Trudeau \u2014 are now officially moving forward as part of Trump\u2019s push to pressure both countries on border security and fentanyl trafficking. Trump is also using the move to pressure Canada and Mexico to shift their manufacturing to the US, saying they\u2019re \u201cgoing to have a tariff\u201d unless they \u201cbuild their car plants, frankly, and other things in the United States, in which case they have no tariffs.\u201d Canadian Foreign Minister Melanie Joly warned that Ottawa is \u201cready\u201d to hit back with retaliatory measures.<\/p>\n

That\u2019s not all \u2014Trump also signed off on doubling tariffs on Chinese imports to 20%. <\/strong>The White House justified the move by accusing Beijing of failing to curb illicit fentanyl shipments to the US. The directive goes into force today.<\/p>\n

And the US will introduce tariffs on external agricultural products<\/strong>, Trump said. The tariffs will come into effect on 2 April. \u201cTo the Great Farmers of the United States: Get ready to start making a lot of agricultural product to be sold INSIDE of the United States,\u201d Trump wrote on a social media post yesterday. (Reuters<\/a> | Bloomberg<\/a>) <\/p>\n

Needless to say, markets recoiled <\/strong>\u2014The S&P 500 slid around 1.8%, marking its worst day since December and wiping out its year to date gains. The Dow Jones Industrial Average tumbled 1.5% and the Nasdaq fell 2.6%, as fears over US economic fallout materialized. Tech stocks also slid, with Nvidia tumbling over 8%. We have more in Planet Finance, below. <\/strong>(Financial Times<\/a> | AP<\/a> | BBC<\/a> | Bloomberg<\/a> | CNBC<\/a> | Reuters<\/a>)<\/p>\n

ALSO- <\/strong>Trump paused all military aid to Ukraine as part of his efforts to push Ukrainian President Volodymyr Zelenskyy to take part in peace talks with Russia. Trump\u2019s decision comes days after a heated discussion between him and Zelenskyy. (Bloomberg<\/a> | AP<\/a>)<\/p>\n

IN OTHER BUSINESS NEWS- <\/strong>A Citigroup staffer nearly sent USD 6 bn to a customer\u2019s account after dropping the account number into the USD field by mistake \u2014 a typo with serious extra zeros. The error, caught the next business day, was reported to regulators. (Bloomberg<\/a>) <\/p>\n

<\/p>\n

*** It\u2019s Going Green day \u2014 your weekly briefing of all things green in Egypt:<\/strong> Enterprise\u2019s green economy vertical focuses each Tuesday on the business of renewable energy and sustainable practices in Egypt, everything from solar and wind energy through to water, waste management, sustainable building practices and how you can make your business greener, whatever the sector.<\/p>\n

In today\u2019s issue: <\/strong>We look at how energy storage can help us meet our ambitious renewable energy targets. <\/p>\n","protected":false},"excerpt":{"rendered":"

Good morning, all. It appears the Ramadan news slowdown is finally upon us, but we expect things to pick up later today following the anticipated emergency Arab League summit on Gaza. So, when do we eat? Maghrib prayers are at 5:56pm in the capital, and you\u2019ll have until 4:50am tomorrow to hydrate and caffeinate ahead […]<\/p>\n","protected":false},"author":1,"featured_media":661711,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","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":[72,6337,74],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-661710","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-what-were-tracking-today","tag-enterpriseam","tag-sp-global","tag-what-were-tracking-today","wpautop","entry"],"acf":{"mongo_id":"0feefe1d-0617-4242-94c7-6ea83d77e9f0","order":"2","is_powered_by":true,"story_type":"4","photo_url":"https:\/\/ent.news\/2025\/3\/278.jpg","photo_position":"above","homepage_title":"","full_issue_title":"It\u2019s PMI day","related_issue":[661708],"teaser":"","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2025\/3\/.f4aff36d-90c3-4f0c-be45-e9da1440f5c6.mp3"},"yoast_head":"\nIt\u2019s PMI day - 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\/2025\/03\/04\/its-pmi-day-3\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"It\u2019s PMI day\" \/>\n<meta property=\"og:description\" content=\"Good morning, all. 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The world\u2019s largest streaming music service will be available at a cost of EGP 49.99 per month in Egypt as well as 13 other regional markets, including the UAE and Morocco. Egypt, Saudi Arabia, the UAE,\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\/2018\/11\/369.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":628358,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/05\/02\/expect-hot-and-dusty-weather-to-continue-today\/","url_meta":{"origin":661710,"position":1},"title":"Expect hot and dusty weather to continue today","author":"enterpriseam admin","date":"2 May 2018","format":false,"excerpt":"PSA- Expect hot and dusty weather to continue today across the country. The aftermath of a sandstorm that hit parts of Egypt on Monday, affecting visibility and closing several highways in the south, is expected to last until Friday, which will see the week\u2019s highest temperature at 40\u00b0C, the national\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\/2018\/5\/206.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":630588,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/04\/26\/what-were-tracking-on-26-april-2018\/","url_meta":{"origin":661710,"position":2},"title":"What we\u2019re tracking on 26 April 2018","author":"enterpriseam admin","date":"26 April 2018","format":false,"excerpt":"Bad news on which to close the week: After rain and flooding Tuesday night and yesterday, the national weather service is warning that we can expect \u201cunstable weather\u201d to continue today in Cairo,with torrential rain forecast for some areas of country. Look for a high temperature of 30\u00b0C in Cairo\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\/2018\/4\/1848.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":628616,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/05\/09\/egyptian-indie-film-yomeddine-premieres-at-71st-cannes-film-festival-today\/","url_meta":{"origin":661710,"position":3},"title":"Egyptian indie film Yomeddine premieres at 71st Cannes Film Festival today","author":"enterpriseam admin","date":"9 May 2018","format":false,"excerpt":"We\u2019re beaming with pride this morning because Egyptian indie film Yomeddine premieres today at the 71st Cannes Film Festival. Yomeddine will compete in the prestigious event for the Palme d\u2019Or \u2014 the highest prize awarded at the annual festival. Directed by first-time Egyptian-Austrian filmmaker Abu Bakr Shawky, Yomeddine follows the\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\/2018\/5\/532.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":628512,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/05\/07\/628512\/","url_meta":{"origin":661710,"position":4},"title":"PSA #1- Zamalek residents could\u2026","author":"enterpriseam admin","date":"7 May 2018","format":false,"excerpt":"PSA #1- Zamalek residents could face a widespread water outage today lasting from 8:00 am until 4:00 pm as the Cairo Water Company cuts off pipes for work on Cairo Metro Line 3, Al Masry Al Youm reports. PSA #2- We\u2019re looking at three day of mixed cloud, rain and\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":657981,"url":"https:\/\/enterpriseam.com\/egypt\/2024\/12\/30\/banks-will-be-closed-on-wednesday-to-mark-the-end-of-their-fiscal-year\/","url_meta":{"origin":661710,"position":5},"title":"Banks will be closed on Wednesday to mark the end of their fiscal year","author":"enterpriseam admin","date":"30 December 2024","format":false,"excerpt":"Good morning, friends. We close out 2024 with another packed issue busy with the latest on our automotive localization push, fresh incentives for industrial players, and a continuation of our recap of everything worth knowing from the past year. ** This is the last issue of EnterpriseAM Egypt for this\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\/2024\/5\/1376.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/661710","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=661710"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/661710\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/661708"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/661711"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=661710"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=661710"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=661710"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=661710"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=661710"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}