Back to the complete issue
Monday, 8 March 2021

What we’re tracking on 8 March 2021

Good morning, ladies and gentlemen, and welcome to a pleasantly brisk news day in which no single story driving the news cycle here at home or abroad.

It’s International Women’s Day. This year’s theme for the day is “choose to challenge,” wherein individuals and organizations are encouraged to “challenge inequality, call out bias, question stereotypes, and help forge an inclusive world.”

*** CATCH UP QUICK with the top stories from yesterday’s EnterprisePM:

WHAT’S HAPPENING TODAY-

The Senate will resume its plenary sessions today. On the agenda: Setting up the upper chamber of parliament’s 14 committees and electing the leadership of each, according to Ahram Gate. Each of the Senate’s 300 members is required to sit on at least one committee. Among them: constitutional and legislative affairs, financial, economic and investment, foreign, Arab and African affairs, as well as defense and national security. The members have already filed their preferred assignment with Senate President Abdel Wahab Abdel Razek.

What should we expect from the Senate? Under its bylaws — which were ratified last week — the chamber is responsible for voting on bills referred to it by the House of Representatives or the president, approving government policy, and ratifying international treaties. It will also sign off on any future amendments to the constitution.

ARE YOU RUNNING A TECH STARTUP? Today is your last chance to apply for The Next Web’s Hangout with VCs, which in partnership with ITIDA is looking to match 25 Egyptian tech startups with international VCs. TNW, a Financial Times company, says the event will “bring together top investors and pre-selected ready-to-fund startups in a unique and compelling format.” You can learn more here or apply here.

Saudi Arabia is trying to transform a patch of desert into a “metropolis powered by renewable energy” as the kingdom aims to become a global hub for green hydrogen and transition into being a supplier of non-polluting fuels, according to Bloomberg Green. Saudi is planning to build a USD 5 bn solar and wind plant that will act as a less-polluting alternative to hydrocarbons while being among the world’s biggest green hydrogen makers when the plant opens in the Neom megacity in 2025. Even with Saudi’s competitive advantage of perpetual sunshine, skeptics point to Saudi Arabia’s weak track record of implementing planned projects in the renewables sector.

Demand for hydrogen has escalated in the past period, with the European Union alone committing USD 500 bn for the element to scale up its infrastructure. Meanwhile, BloombergNEF estimates the hydrogen market could be worth as much as USD 700 bn by 2050.

What do can one do with lots and lots of hydrogen? The gas can be used to make fertilizers, methanol and in refining processes — and it’s being tipped as a clean-burning energy of the future in everything from trains and planes to cars and city buses.


SIGN OF THE (CREEPY) TIMES- Passing through DXB? No need for a passport — just bring your eyes. Dubai International Airport (DXB) has officially rolled out a smart travel system that allows passengers to travel without using their identification papers, by combining databases from Emirates Airlines and the Dubai Health Authority. The system uses biometric technology that relies on a mix of facial and iris recognition, and means travelers can check in for their flight and pass through immigration — as well as present digital verification of their covid-19 medical records — without any paperwork or phone apps.

SIGN OF THE TIMES #2- “Vaxications” are now an emerging trend as the thirst for travel has people jumping on a plane for a post-vaccine vacation as the global rollout continues and after months of travel restrictions. Travel agencies are riding the pent-up demand for vaxications, which made its presence known with booking rates jumping to 80% since January after “hovering around 35 to 45%,” Ted Martens, chief marketing officer at wildlife travel operator Natural Habitat Adventures, tells Bloomberg.

Just don’t get caught jumping the queue — the head of one of the world’s biggest investors lost his job recently when it was revealed that he had flown off to Dubai to get jabbed.

CIRCLE YOUR CALENDAR-

It’s the penultimate day of the EFG Hermes Virtual Investor Conference. The conference is headlined as “Frontier Emerging Markets Regaining Momentum” and brings together executives from 197 companies and more than 700 investors from 253 global institutions to exchange insights on the current state of frontier and emerging markets.

Key data points in the coming days and weeks:

  • Inflation data will drop on Wednesday, 10 March.
  • The Central Bank of Egypt will discuss interest rates on Thursday, 18 March.

You have until month’s end to file your personal taxes: The Tax Authority is reminding individual taxpayers to file their income tax and property tax returns through the electronic filing system before 31 March. Property taxes can be paid online or at any tax office. Most folks with day jobs pay taxes through payroll deductions made and remitted by their employers, but everyone needs to pony up for income from side gigs and the like. D-day for corporations is the end of April.

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

enterprise

*** It’s Blackboard day: We have our weekly look at the business of education in Egypt, from pre-K through the highest reaches of higher ed. Blackboard appears every Monday in Enterprise in the place of our traditional industry news roundups.

In today’s issue: We look at some of the best recently-released documentaries about the business of education, which tackle pressing issues about education privatization, quality and accessibility at a global level. These include the US debate about whether public funds should be directed to charter schools or public schools, how tech innovations in South Korea are increasing access to quality education, soaring university debt in the US and China, and how universities throughout Africa could better prepare graduates for employment.

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.

Enterprise is available without charge thanks to the generous support of HSBC Egypt (tax ID: 204-901-715), the leading corporate and retail lender in Egypt; EFG Hermes (tax ID: 200-178-385), the leading financial services corporation in frontier emerging markets; SODIC (tax ID: 212-168-002), a leading Egyptian real estate developer; SomaBay (tax ID: 204-903-300), our Red Sea holiday partner; Infinity (tax ID: 474-939-359), the ultimate way to power cities, industries, and homes directly from nature right here in Egypt; CIRA (tax ID: 200-069-608), the leading providers of K-12 and higher level education in Egypt; Orascom Construction (tax ID: 229-988-806), the leading construction and engineering company building infrastructure in Egypt and abroad; Moharram & Partners (tax ID: 616-112-459), the leading public policy and government affairs partner; Palm Hills Developments (tax ID: 432-737-014), a leading developer of commercial and residential properties; Mashreq (tax ID: 204-898-862), the MENA region’s leading homegrown personal and digital bank; Industrial Development Group (IDG) (tax ID:266-965-253), the leading builder of industrial parks in Egypt; Hassan Allam Properties (tax ID:  553-096-567), one of Egypt’s most prominent and leading builders; and Saleh, Barsoum & Abdel Aziz (tax ID: 220-002-827), the leading audit, tax and accounting firm in Egypt.