The bill would also see the election of the remaining two thirds split equally between a list system and an individual basis. The bill, which parliamentary majority bloc the Support Egypt Coalition has drafted, would - if passed - set up a 300-member Senate, one-third of whom would be appointed by the president. The creation of a new Senate is the big draw today with a draft bill on the subject due to be presented this morning, according to Masrawy. He’s being treated at a hospital in Giza, according to Youm7. MPs will be wearing face masks in all sessions with six MPs having reported being infected with the virus that causes covid-19, Al Masry Al Youm reports. MPs are now in the home stretch preparing for summer vacation. It’s a big day for: The House of Representatives, which is back in session this morning with a very busy agenda that ranges from passage of the 2020-2021 state budget, the reconstitution of the upper house of parliament and a pile of other business-relevant bills. Witness this graphic (below) from Bloomberg’s Joe Weisenthal, who notes that there is “almost no difference in spending activity between lockdown states and non-lockdown ones” - part of what’s getting economies through is that consumers keep on spending, even when they’re locked down.Īnd consumers can expect lots of sales ahead with retailers globally sitting on piles and piles of unsold inventory, the Financial Times adds, asking whether the end of lockdown will see the sale of the century. Oh, and one more thing: Don’t bet against the resilience of the consumer. This is a shot in the arm for those among you who are optimistic about prospects for business in Egypt despite all the short-term pain caused by the lockdowns, as we reported in our Enterprise Reader Poll on Thursday.
#EL KAHERA ELYOUM AMR ADIB OCTOBER 22 2017 PROFESSIONAL#
But manufacturing, health care and professional services added jobs as well, possibly signaling that the damage did not spread as deeply into the economy as many feared,” the New York Times’ Ben Casselman writes. Why are job reports in the US and Canada important to Egypt? Beyond being positive indicators for the global economy, it’s where the jobs are coming from: “Job growth was concentrated in industries hit hardest early in the crisis, like leisure, hospitality and retail work. That’s leading pundits to proclaim that the covid-recovery has begun. the loss of 500k jobs that many economists had projected. Now, there’s a good chance that problems with underlying data collection is partially at play here, but Canada also saw a substantial number of jobs created last month - to the tune of 289k positions vs. On the jobs reports: The US economy added 2.5 mn jobs in May after two months of mass unemployment, bringing total unemployment to 13.3% from 14.7%. And we’re really chuffed that Egypt is pushing ahead of mandatory vaccination programs despite the pandemic (see Diplomacy + Foreign Trade, below).Data from the US and Canada suggest that economies are rebounding quicker than expected from covid-19 shutdowns.Cairo has brokered a breakthrough in the peace process between warring factions in Libya (again, more in Speed Round).
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