Good afternoon, everyone, and thank goodness for a slow news day this Monday. Pep needed? It is technically mid-week already, with Thursday a day off for Sinai Liberation Day. A reminder that Enterprise is taking a publication holiday, in observance.

THE BIG STORY TODAY- Our railways, their upgrades, their failings and the private sector’s role in fixing it was the big topic of the day. The conversation dominated headlines as Transport Minister Kamel El Wazir addressed the House of Representatives to explain the recent spate of railway accidents, as well as his ministry’s plans to overhaul the railways. Meanwhile, an Al Mal piece out this morning explores possible plans for how the private sector can take part in those plans. We breakdown the debate and more in the Speed Round below.

The latest top state official to get a covid jab: Prime Minister Moustafa Madbouly, who was vaccinated today, one day after President Abdel Fattah El Sisi publicly received a dose, according to a cabinet statement. Madbouly encouraged citizens to register for their own vaccinations soon, as the country’s vaccine rollout picks up steam.

** CATCH UP QUICK on the top stories from today’s EnterpriseAM:

• The Finance Ministry released the draft FY2021-22 budget.
• We’re still a carry trade darling.
• New terms for Egypt’s second major tobacco company are back in drafting.

COVID UPDATE-

Six feet isn’t enough to stop the transmission of covid-19 while indoors: Social distancing guidelines may not be as effective as previously thought, with a new MIT study suggesting the risk of being exposed to covid-19 indoors is just as big at 60 feet as it is at six feet — even when wearing a mask. The researchers looked at factors including the amount of time spent inside, air circulation, immunization, variant strains, mask use, and even respiratory activity such as breathing, eating, speaking or singing to calculate the risk while in an enclosed space. The study puts question marks on the effectiveness of the six-foot rule, shining light on more constructive steps people can take to make it safer for people indoors including limiting the time people can spend inside and installing fans for better air circulation.

THE BIG STORY ABROAD- That capital gains tax increase in the US? It’s only going to impact the wealthiest 0.3% of Americans, the Financial Times reports, citing an unnamed senior Biden administration official. The White House’s plan to nearly double tax on capital gains and dividends, which will be announced this week, is meant to fund a new education and child care spending package that could top USD 1.5 tn. Wall Street and Silicon Valley are not on board, arguing that the proposal to raise the corporate tax rate from 21% to 28% and enact a global minimum tax could stymie the US stock rally, reports the FT.

**So, when do we eat? Listen for Maghreb prayers this evening at 6:29pm, and Fajr prayers at 3:43am.

FOR TOMORROW-

Finance Minister Mohamed Maait is addressing AmCham’s Pre-Annual General Meeting tomorrow to discuss Egypt’s economic reform beyond the pandemic. The event will be held virtually at 2pm CLT. Members and non-members alike are welcome to attend. Register here.

???? CIRCLE YOUR CALENDAR-

Next Sunday is Coptic Easter Sunday and Sham El Nessim will fall on Monday. It’s still unclear whether either will be a banking holiday, so watch this space for updates.

Eid is expected to fall on 13-15 May, but the dates are still to be confirmed.

The Gouna International Squash Open 2021, a PSA event, will run 20-28 May with 96 men and women competing. The event has the backing of our friends at CIB.

???? ON THE TUBE TONIGHT-

The “most diverse” Oscars ever have come to a close, with a handful of the final awards going to women and racial minorities at the 93rd Academy Awards, writes CNBC. You can check out the full list of prizewinners on the Oscars official website, but here are the highlights:

• Best picture went to Nomadland, which tells the story of an elderly woman's journey across America after being left rootless by the Great Recession.
• Chloe Zhao won best director for Nomadland, making her the first woman of colour to win the award and the second ever female to take home the trophy.
• Best actress also went to a contender from Nomadland, Frances McDormand.
• Anthony Hopkins was handed the award of best actor for his role in The Father, which was also named the best adapted screenplay.
• Promising Young Woman took home the award for best original screenplay.
• The award for best cinematography went to Erik Messerschmidt for his work on Mank and the film also snagged the award for best production design.
• The best supporting actress nod went to Youn Yuh-jung for her role in Minari. Youn is the first Korean actor to take home an Oscar.
• Daniel Kaluuya picked up the award for best supporting actor for his portrayal of Black Panther activist Fred Hampton in Judas and the Black Messiah
• Nature doc My Octopus Teacher was awarded best documentary feature.
• Colette, which follows a French woman who was part of the resistance during World War II, was named the best documentary short.
• Pixar’s Soul was given a nod for best animated feature film as well as best original score.
• Chrisopher Nolan’s sci-fi mindbender Tenet won for best visual effects.
• The timely Two Distant Strangers took home the award for best live action short film.
• Best animated short film went to Netflix’s If Anything Happens I Love You.
• The best international feature film award was given to Denmark’s Another Round.

⚽ There’s one last match to tie up Premier League’s gameweek 33 tonight: Leicester will play against Crystal Palace at 9pm.

Milan is playing against Lazio in Serie A tonight at 8:45. Another match on in the league today is Torino against Napoli at 6:30pm.

La Liga’s sole match tonight is Eibar versus Real Sociedad.

Zamalek is up against National Bank tonight in the Umm El Donia Premier League, playing at 9:30pm.

The Champions League is resuming tomorrow with a must-watch match between Real Madrid and Chelsea.

???? OUT AND ABOUT-

The six-day electronic and new media festival Cairotronica is kicking off today and will run until 1 May. The festival will see over 40 artists from 22 countries give talks, workshops, or set up exhibitions or installations at the Tahrir Culture Center or at the Factory. The festival aims to shed light on important global issues through creative art forms, looking at topics such as AI, data, climate change, and misinformation.

The French Institute in Cairo is organizing a talk titled “The Taste of Books” tonight at the AFCA Arts Center. The talk will bring together two writers who managed to write books while in a foreign country during the pandemic: French writer Anton Beraber, who was staying in Egypt, and Egyptian Mansoura Ez-Eldin, who was staying in Paris.

Oud player and composer Cardan will play at El Sakia Culturewheel today, performing a variety of songs from the 1980s and 1990s.

???? UNDER THE LAMPLIGHT-

Has the role of a manager become an outdated concept? In The Management Delusion, author Matt Casey expertly lays out the failures of conventional management and argues that employees often take on management duties to keep the wheel turning. He offers instead Minimum Effective Management, a bold alternative approach to traditional management style that puts employees in control of their own training, holidays, and even pay raises.

???? TOMORROW’S WEATHER- Expect daytime highs of 31°C and nighttime lows of 15°C tomorrow, our favorite weather app tells us.