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Thursday, 25 February 2021

What we’re tracking on 25 February 2021

Good morning, nice people, and welcome to the last day of the workweek. We survived — and so did you.

THE BIG STORY HERE AT HOME continues to be our covid-19 vaccination program, which continues to bring in good news. First up, we now have confirmation that everyone currently living in Egypt — whether you’re a foreign resident, a refugee, or a diplomat — will have access to the jabs at the same time as citizens. And after the Egyptian Drug Authority gave emergency authorization for the use of the Sputnik and AstraZeneca vaccines, Prime Speed Medical became the first private sector player to sign a vaccine import agreement. We have chapter and verse in this morning’s Covid Watch, below.

INTERNATIONALLY, it’s not front-page news everywhere, but it’s an important story in our neck of the woods: US President Joe Biden formally reversed yesterday King Cheeto’s ban on immigrant visas, according to CBS News. Biden’s decision does not, however, extend to the suspension of H1-B visas, which are frequently used by tech companies to bring in international talent.

And speaking of The Donald: His political comeback at the Conservative Political Action Conference in Florida on Sunday is “shaping up to be an event that leans into the 2020 election conspiracy theories rather than rebukes them,” ABC News says.

*** CATCH UP QUICK on the top stories from yesterday’s edition of EnterprisePM:

  • The Egyptian Drug Authority has approved the Sputnik V and Astrazeneca vaccines for emergency use, ahead of the arrival of some 8.6 mn doses of the Oxford-AstraZeneca vaccine from GAVI.
  • Foreign investments in EGP bonds now stand at USD 29 bn, exceeding its pre-covid peak.
  • News of Vodafone Egypt’s acquisition of a 20% stake in each of Bee and Masary has analysts raving about shares of all listed companies involved.

WHAT’S HAPPENING TODAY-

Cabinet could be looking at the Public Enterprises Act’s executive regulations as early as today, Public Enterprises Minister Hisham Tawfik told Masrawy. The Act, which gained cabinet approval last year, reclassifes listed companies in which the government holds up to a 75% stake, bringing them within the scope of the Companies Act, while granting general assemblies more power to oversee and remove boards. The legislation is designed to streamline the public sector and promote financial stability within state-owned enterprises.

Prime Minister Moustafa Madbouly is talking about Egypt’s economy in a webinar held by AmCham and the Egypt-US Business Council today at 4pm. The event, headlined "Egypt: 2021 and Beyond," will have Madbouly tackling Egypt’s strategy to curb the effects of the global downturn as well as revealing the country’s future plans to maintain economic growth.

CIRCLE YOUR CALENDAR-

The Afro Future Summit is taking place tomorrow. The summit will be held virtually.

The Egypt International Art Fair also kicks off tomorrow at Dusit Thani Lakeview Cairo, and is set to wrap on Sunday, 28 February.

Sunday, 28 February is the deadline for businesses, sole traders, and those generating income from sources other than their day job to file wage tax returns through the electronic filing system.

The Aswan Forum for Peace and Development begins on Monday, 1 March. The virtual event will run through Friday, 5 March under the title “Shaping Africa’s new normal: Recovering stronger, rebuilding better.” Representatives from governments, civil society, academia, financial institutions, and international organizations, will all weigh in on the risks, challenges, and potential solutions for sustainable development in the continent.

The Eastern Mediterranean Gas Forum is also coming into effect on the first of the month.

The World Shooting Championships is running until next Thursday, 4 March at the Shooting Club in 6th of October, the Youth Ministry announced in a statement.

Check out our full calendar on the web for a comprehensive listing of upcoming news events, national holidays and news triggers.

Enterprise is a daily publication of Enterprise Ventures LLC, an Egyptian limited liability company (commercial register 83594), and a subsidiary of Inktank Communications. Summaries are intended for guidance only and are provided on an as-is basis; kindly refer to the source article in its original language prior to undertaking any action. Neither Enterprise Ventures nor its staff assume any responsibility or liability for the accuracy of the information contained in this publication, whether in the form of summaries or analysis. © 2022 Enterprise Ventures LLC.

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