Good afternoon folks, and a happy Tuesday to you. Today we have all the latest on Egypt’s fresh PMI reading, Jaguar’s new EV concept, and the best content to wind down to after a busy work day.

THE BIG STORY TODAY

Egypt’s non-oil private sector activity continued to contract in November, albeit at a softer pace: Egypt’s non-oil private sector activity in November edged up to 49.2 from 49.0 last month, marking sector activity’s third consecutive month of contraction, according to S&P Global’s latest Purchasing Managers’ Index (PMI) report (pdf). The decline came as subdued customer demand and weaker new order inflows continued to weigh on business activity, though the contraction eased to its mildest pace in three months.

Good news on the inflation front: November’s reading saw input cost and output charge inflation drop to its lowest levels in four months, “suggesting downward potential to consumer price inflation in the coming months," senior S&P Global economist David Owen said.

THE BIG STORY ABROAD

Amid a busy day in the int’l presses, China has thrown down the gauntlet in the latest development in the US-China trade war: The Chinese government announced earlier today that it is banning exports of several dual-use minerals and metals to the US in response to Washington’s announcement of tighter semiconductor export controls yesterday. The countermeasures will place the 98% of world gallium and germanium produced by China beyond the reach of US companies — spelling potential trouble for the US’ semiconductor, battery, and military hardware manufacturing industries. (Financial Times | Reuters)

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

  • New gov’t committee aims to make Egypt a startup hub: The recently formed Entrepreneurship Ministerial Committee has announced ambitious plans to increase investments in Egypt’s startups tenfold to USD 5 bn in the coming period.
  • Fresh details on auto feeder industry localization plans: The Industry Ministry revealed new information on the government’s plans to localize automotive feeder industries during yesterday’s ministerial group for industrial development meeting.
  • Government arrears owed to Egypt’s pharma companies have climbed to EGP 50 bn, Federation of Egyptian Chambers of Commerce’s pharma division head Ali Auf told EnterpriseAM.

☀️ TOMORROW’S WEATHER- We’re looking forward to another sunny morning tomorrow with a high of 23°C, and clear night skies that will dip to 13°C, according to our favorite weather app.

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