{"id":553106,"date":"2022-10-20T13:33:20","date_gmt":"2022-10-20T13:33:20","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/?post_type=afternoon&#038;p=553106"},"modified":"2025-12-16T00:00:35","modified_gmt":"2025-12-16T00:00:35","slug":"uk-un-trussed","status":"publish","type":"afternoon","link":"https:\/\/enterpriseam.com\/egypt\/afternoon\/uk-un-trussed\/","title":{"rendered":"UK un-Trussed"},"content":{"rendered":"<section id=\"553108\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                story-section            \"\r\n            id=\"553108\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">1<\/div>\r\n\r\n                    <p class=\"f-graphik\">WHAT WE\u2019RE TRACKING TONIGHT<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/10\/20\/tonight-egypt-economic-conference-next-week-liz-truss-resigns-after-just-6-weeks-as-uk-pm\/\">\r\n                            TONIGHT: Egypt economic conference next week + Liz Truss resigns after just 6 weeks as UK PM                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/10\/20\/tonight-egypt-economic-conference-next-week-liz-truss-resigns-after-just-6-weeks-as-uk-pm\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); navigator.clipboard.writeText('https:\/\/enterpriseam.com\/egypt\/2022\/10\/20\/tonight-egypt-economic-conference-next-week-liz-truss-resigns-after-just-6-weeks-as-uk-pm\/')\">\n                    Copy Link                <\/a>\n\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https:\/\/enterpriseam.com\/egypt\/2022\/10\/20\/tonight-egypt-economic-conference-next-week-liz-truss-resigns-after-just-6-weeks-as-uk-pm\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=TONIGHT: Egypt economic conference next week + Liz Truss resigns after just 6 weeks as UK PM&url=https:\/\/enterpriseam.com\/egypt\/2022\/10\/20\/tonight-egypt-economic-conference-next-week-liz-truss-resigns-after-just-6-weeks-as-uk-pm\/\">\n                    X                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/twitter-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/shareArticle?mini=true&url=https:\/\/enterpriseam.com\/egypt\/2022\/10\/20\/tonight-egypt-economic-conference-next-week-liz-truss-resigns-after-just-6-weeks-as-uk-pm\/&title=TONIGHT: Egypt economic conference next week + Liz Truss resigns after just 6 weeks as UK PM\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=TONIGHT%3A+Egypt+economic+conference+next+week+%2B+Liz+Truss+resigns+after+just+6+weeks+as+UK+PM+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F10%2F20%2Ftonight-egypt-economic-conference-next-week-liz-truss-resigns-after-just-6-weeks-as-uk-pm%2F\">\n                    WhatsApp                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/whatsapp-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n        <\/ul>\n    <\/div>\n        <\/div>\r\n                    \r\n                <\/div>\r\n\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/10\/20\/tonight-egypt-economic-conference-next-week-liz-truss-resigns-after-just-6-weeks-as-uk-pm\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-553108\" class=\"content-area-description single-story post-553108 post type-post status-publish format-standard hentry category-what-were-tracking-tonight tag-currencies tag-economy tag-enterprisepm tag-japan tag-liz-truss tag-uk tag-what-were-tracking-tonight wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><a class=\"content-anchor\" id=\"tldr-story-01\"><\/a> <strong>It\u2019s a big week next week:<\/strong> The Madbouly government\u2019s highly-anticipated economic conference kicks off on Sunday and runs through Tuesday. The gathering will see government officials, experts, and economists come together with the aim of creating a roadmap for the country\u2019s economic future.<\/p>\n<p><strong>The conference has three main tracks:<\/strong> Macroeconomic policies; empowering the private sector and improving the business environment; and formulating a future roadmap for priority sectors.<\/p>\n<p><strong>A technical committee is already looking into some 300 proposals <\/strong>for policies and measures to increase the flexibility and competitiveness of the Egyptian economy. They\u2019re being filtered and passed on to the relevant authorities. At the end of the three days, a closing session will be held to draw attention to the conference\u2019s outcomes.<\/p>\n<p><strong>Want to weigh in throughout the conference? Download the app.<\/strong> The Madbouly government has released the economic conference app for <a href=\"https:\/\/play.google.com\/store\/apps\/details?id=ecoconf.idsc.gov.eg\">Android<\/a> and <a href=\"https:\/\/apps.apple.com\/eg\/app\/%D8%A7%D9%84%D9%85%D8%A4%D8%AA%D9%85%D8%B1-%D8%A7%D9%84%D8%A7%D9%82%D8%AA%D8%B5%D8%A7%D8%AF%D9%8A\/id6443584694\">iOS<\/a> to give participants the chance to follow the proceedings and share their input.<\/p>\n<p><strong>*** READ OUR (RELATIVELY) SIMPLE <\/strong><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/edition\/am\/feeda831-c0fd-43df-b197-08ddb74254e7\">FIVE-STEP RECIPE<\/a><\/strong> policymakers can follow to turn the economy around by capturing a once-in-a-century chance to turn Egypt into a magnet for FDI and make us into an export powerhouse in the process.<\/p>\n<hr class=\"grey-line\">\n<p><a class=\"content-anchor\" id=\"tldr-story-09\"><\/a> <strong>Driving the news agenda internationally as we slide into the weekend is the escalating<\/strong><strong> political chaos in the UK:<\/strong> Just an hour ago, Liz Truss officially became the shortest-serving prime minister in British political history, tendering her resignation after barely a month in office amid rebellion in her party. Truss and her ex-chancellor Kwasi Kwarteng made the most of their six weeks running the country, with their neoliberalism-on-steroids package of tax cuts and deregulation nearly <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/ee92ec79-abd6-4915-914a-af2dc1415707\">blowing up the UK financial system<\/a>, punching a multi-bn GBP hole in the country\u2019s public finances, and consigning the ruling Conservative Party to almost certain electoral defeat in 2024. A new PM is expected to be appointed by the party in the coming week, with ex-chancellor Rishi Sunak the bookies\u2019 favorite. (<a href=\"https:\/\/www.bbc.co.uk\/news\/uk-politics-63332037\">BBC<\/a> | <a href=\"https:\/\/apnews.com\/article\/liz-truss-europe-economy-business-e18e6e6007c28f6e11cc1a201c545b71\">AP<\/a> | <a href=\"https:\/\/www.reuters.com\/article\/britain-politics\/liz-truss-to-quit-as-uk-prime-minister-next-week-idUSKBN2RF0C0\">Reuters<\/a> | <a href=\"https:\/\/www.ft.com\/content\/ae9dc267-06ba-4388-b8ff-0061be227c3c\">FT<\/a> | <a href=\"https:\/\/www.bloomberg.com\/news\/live-blog\/2022-10-20\/liz-truss-in-turmoil?srnd=premium-middle-east\">Bloomberg<\/a> | <a href=\"https:\/\/www.wsj.com\/articles\/liz-truss-resigns-as-u-k-prime-minister-11666269489\">WSJ<\/a> | <a href=\"https:\/\/news.sky.com\/story\/liz-truss-resigns-live-updates-prime-minister-12593360\">Sky News<\/a> | <a href=\"https:\/\/www.cnbc.com\/2022\/10\/20\/uk-prime-minister-liz-truss-resigns-after-failed-budget-and-market-turmoil.html\">CNBC<\/a>)<\/p>\n<p><strong>The JPY is getting a lot of attention in the global business press<\/strong> after it slipped a further 0.1% against the greenback today, falling past JPY 150 for the first time since 1990. A USD 20 bn intervention by the central bank last month has failed to stem the currency\u2019s slide, which has seen it lose more than 23% of its value against the greenback YTD. Markets are now expecting more action from the BOJ in the coming days. (<a href=\"https:\/\/www.reuters.com\/markets\/currencies\/japans-finance-minister-vows-appropriate-steps-tackle-volatile-yen-moves-2022-10-20\/\">Reuters<\/a> | <a href=\"https:\/\/www.ft.com\/content\/8d2a3580-f4b8-4e58-a7f5-a7fe9dce4f3e\">FT<\/a> | <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2022-10-19\/yen-traders-on-alert-for-intervention-as-150-per-dollar-beckons?sref=mmeFTDW1\">Bloomberg<\/a>)<\/p>\n<p><strong>** CATCH UP QUICK on the top stories from today\u2019s EnterpriseAM:<\/strong><\/p>\n<ul>\n<li><strong>Qatar could <\/strong><strong>invest as much as USD 2.5 bn<\/strong><strong> in state-held firms:<\/strong> Qatar\u2019s sovereign wealth fund <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/23c6426c-0b5d-4302-aeb2-74226e86a276\">is reportedly in advanced talks<\/a> to buy up 20% of Vodafone Egypt from minority shareholder Telecom Egypt, as well as other state-held stakes in unlisted companies, in transactions worth up to USD 2.5 bn.<\/li>\n<li><strong>valU makes another acquisition:<\/strong> EFG Hermes\u2019 BNPL platform, valU, <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/65572e00-f929-401b-bdf5-690f66c460fa\">has acquired<\/a> an undisclosed minority stake in fintech Kiwe.<\/li>\n<li><strong>Our 3 GW electricity linkup with Saudi is going live in mid-2025:<\/strong> Trial operations for the USD 1.8 bn Egypt-Saudi electricity interconnection are <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/653bc78e-5d38-4458-975b-249cc9521b61\">set to begin in May 2025<\/a>with an official operational launch set for later in the same year.<\/li>\n<\/ul>\n<div class=\"row\">\n<div class=\"col-md-12 subscribe-box-panel\">\n<div class=\"\">\n<div class=\"title\">\n<h4 class=\"fw-lighter mb-10\">\n          Get <b style=\"font-weight: 700\">Enterprise<\/b> daily<br \/>\n        <\/h4>\n<\/p><\/div>\n<p class=\"mb-10\">The roundup of news and trends that move your markets and shape corporate agendas delivered straight to your inbox.<\/p>\n<p>      <a href=\"egypt\/en\/user\/NewsLetters\" type=\"button \" class=\"btn-green px-3 d-flex align-items-center\">Subscribe here<\/a>\n    <\/div>\n<\/p><\/div>\n<\/div>\n<p>***<\/p>\n<p><strong>It\u2019s your last chance to <\/strong><strong><a href=\"https:\/\/www.surveymonkey.com\/r\/9VF6H6Y\">take our EV survey<\/a><\/strong><strong>:<\/strong> Are you an ex-petrolhead shopping around for your first electric vehicle? EV-curious and wondering what all the fuss is about? Or are you not ready to say goodbye to that sweet smell of benzene as you wait at the gas station?<\/p>\n<p><strong>We want to hear from you:<\/strong> We\u2019re taking the pulse on how the nation feels about Egypt\u2019s nascent EV transition. Take a few minutes to fill out <a href=\"https:\/\/www.surveymonkey.com\/r\/9VF6H6Y\">our short survey<\/a>. We\u2019ll be back soon with the results.<\/p>\n<p>***<\/p>\n<p><strong>? CIRCLE YOUR CALENDAR-<\/strong><\/p>\n<p><strong>Egypt and the UAE will host a two-day conference marking 50 years of bilateral ties.<\/strong> The gathering will take place next Wednesday-Friday, 26-28 October and is being produced in association with the two governments. Day one is an economic forum featuring ministers, senior officials and business leaders, while the following day will feature a cultural forum, according to <a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid0gKn5z3nuZiF3rVVxhgVD5AaDXHkH4X4bj7L1b3cvYGKcbV5u98c99ivMradBERDgl\">a statement<\/a>.<\/p>\n<p><strong>The Suez Canal Economic Zone (SCZone) will launch a promotional campaign next week <\/strong><strong>to drum up<\/strong> interest in investing there, SCZone head Walid Gamal El Din said, according to <a href=\"https:\/\/bit.ly\/3T5CAsr\">a statement<\/a>. The pre-COP campaign will launch domestically next Sunday, 23 October, before the international campaign kicks off on Monday, 24 October.<\/p>\n<p><strong><a href=\"https:\/\/enterprise.press\/am-edition\/#calendar\">Check out our full calendar<\/a><\/strong><strong> on the web<\/strong> for a comprehensive listing of upcoming news events, national holidays and news triggers.<\/p>\n<p>\u2600\ufe0f <strong>TOMORROW\u2019S WEATHER<\/strong>- Expect temperatures to peak at 29\u00b0C during the day over the weekend and to hit a low of 18-19\u00b0C at night, according to our favorite weather app.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/currencies\/\">currencies<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/economy\/\">economy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/japan\/\">Japan<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/liz-truss\/\">Liz Truss<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/uk\/\">UK<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/what-were-tracking-tonight\/\">WHAT WE\u2019RE TRACKING TONIGHT<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"553109\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                            \"\r\n            id=\"553109\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/10\/20\/553109\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-553109\" class=\"content-area-description single-story post-553109 post type-post status-publish format-standard hentry category-uncategorized wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p class='web-image'><a href='https:\/\/palmhillsdevelopments.com\/OurDevelopments'><img decoding=\"async\" data-recalc-dims=\"1\" src=\"https:\/\/i0.wp.com\/ent.news\/2022\/4\/CLeo-enterprise-1600px-02-1.jpg?ssl=1\" alt='enterprise'><\/a><\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"553110\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                story-section            \"\r\n            id=\"553110\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">2<\/div>\r\n\r\n                    <p class=\"f-graphik\">FOR YOUR COMMUTE<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/10\/20\/the-laws-preventing-someone-from-stealing-your-face-are-surprisingly-murky\/\">\r\n                            The laws preventing someone from stealing your face are surprisingly murky                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/10\/20\/the-laws-preventing-someone-from-stealing-your-face-are-surprisingly-murky\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" 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src=\"https:\/\/i0.wp.com\/ent.news\/2022\/10\/482.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"553111\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2022\/10\/20\/the-laws-preventing-someone-from-stealing-your-face-are-surprisingly-murky\/482-jpg-7\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/10\/482.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"482.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/10\/482.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/10\/482.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-553110\" class=\"content-area-description single-story post-553110 post type-post status-publish format-standard has-post-thumbnail hentry category-for-your-commute tag-bruce-willis tag-climate tag-enterprisepm tag-for-your-commute tag-great-resignation tag-health tag-quiet-quitting tag-work-life wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><a class=\"content-anchor\" id=\"tldr-story-02\"><\/a> <strong>Bruce Willis stars in a real-life version of Face\/Off: <\/strong>The recent Bruce Willis deepfake saga has sparked a debate on how actors can protect their identities to avoid exploitation, <a href=\"https:\/\/www.wired.co.uk\/article\/bruce-willis-deepfake-rights-law\">Wired<\/a> writes. Deepfake tech can replace a person\u2019s face in a video so seamlessly that most viewers are unable to spot the fake from the real. And that\u2019s exactly what happened with Willis, whose digital version appeared in a Russian ad despite the actor refuting an agreement with the deepfake company behind his digital twin. Some believe that the emergence of the technology concerns all those in the entertainment industry who could be exploited in their contracts due to their ignorance about AI.<\/p>\n<p><strong>Surely you have the right to the use of your own face? It\u2019s complicated.<\/strong> In the US, people can appeal to various state laws to prevent people from appropriating their identities, though the degree of protection varies from state to state. Some have rules safeguarding the \u201cright of publicity\u201d \u2014 prohibiting people from using others' identities without their permission \u2014 though it's not entirely clear whether this applies to deepfakes. \u201cA private individual or company that simply creates a deepfake of a person, without more, does not obviously run afoul of the right of publicity,\u201d says David A. Simon, a research fellow at Petrie-Flom Center at Harvard Law School. And in some situations, the free speech protection of the First Amendment could get in the way of actors trying to protect their digital rights.<\/p>\n<p><strong>It doesn\u2019t help that some actors are on board with this: <\/strong>Small-time actors who\u2019d never be able to make it big in the industry see the AI tech as a chance for profit. \u201cWhile many never become \u2018famous,\u2019 their names, voices, images or likenesses still attain commercial value,\u201d a Screen Actors Guild\u2014American Federation of Television and Radio Artists (SAG-AFTRA) official says.<\/p>\n<hr class=\"grey-line\">\n<p><a class=\"content-anchor\" id=\"tldr-story-04\"><\/a> <strong>Could climate change trigger a new pandemic?<\/strong> Genetic examination of the largest Arctic freshwater lake in the world suggests that a new viral infection could occur because of melting glaciers, according to <a href=\"https:\/\/royalsocietypublishing.org\/doi\/10.1098\/rspb.2022.1073\">research<\/a> from the University of Ottawa picked up by <a href=\"https:\/\/www.theguardian.com\/science\/2022\/oct\/19\/next-pandemic-may-come-from-melting-glaciers-new-data-shows\">the Guardian<\/a>. The findings suggest that frozen viruses that have remained trapped in glaciers and permafrost for mns of years could re-enter circulation as ice continues to melt.<\/p>\n<p><strong>Farfetched? Look no further than Siberia<\/strong> which suffered an <a href=\"https:\/\/www.npr.org\/sections\/goatsandsoda\/2016\/08\/03\/488400947\/anthrax-outbreak-in-russia-thought-to-be-result-of-thawing-permafrost\">outbreak of anthrax<\/a> in 2016 which was thought to have been caused by a diseased reindeer carcass that had thawed with the melting of permafrost.<\/p>\n<p><strong>Known unknowns:<\/strong> It\u2019s not exactly clear how many dormant viruses may lie in wait, how many of them are unknown or whether they could trigger mass infections, though the researchers say they plan to answer the second of these points in the coming months. A <a href=\"https:\/\/microbiomejournal.biomedcentral.com\/articles\/10.1186\/s40168-021-01106-w\">separate study<\/a> by a team from Ohio State University identified genetic material from 33 viruses \u2014 28 of which are new \u2014 in ice samples taken from the Tibetan plateau in China,<\/p>\n<hr class=\"grey-line\">\n<p><strong>Employees speaking up and quitting in droves is becoming the new normal in the US<\/strong>, according to a recent <a href=\"https:\/\/www.cnbc.com\/2022\/09\/26\/why-does-work-feel-so-dysfunctional-right-now-experts-weigh-in.html\">CNBC report<\/a>. High monthly turnover rates make <a href=\"https:\/\/www.investopedia.com\/the-great-resignation-5199074\">the Great Resignation<\/a> \u2014 a recent trend where workers are quitting their jobs voluntarily en masse \u2014 seem less unusual. Almost 4 mn people, or 3% of the workforce, have resigned every month since April 2021, the report says. That\u2019s a lot of disgruntled employees.<\/p>\n<p><strong>What\u2019s driving this trend? Experts suggest that \u201cwork has always been dysfunctional, our tolerance for it just got lower,<\/strong>\u201d according to the report. Covid-era remote work has given employees hope for how things may look different than before. In 2019, the World Health Organization <a href=\"https:\/\/www.who.int\/news\/item\/28-05-2019-burn-out-an-occupational-phenomenon-international-classification-of-diseases\">officially declared<\/a> work burnout an occupational danger. \u201cThere were people who felt like the world of work wasn\u2019t sustainable in 2019, and then the pandemic happened,\u201d says Anthony Klotz, an organizational psychologist. \u201cI don\u2019t know if there\u2019s more dysfunction so much as, in many cases, we\u2019re saying: No, we\u2019ve seen a better path, or we have this opportunity right now, to make the world of work better,\u201d he says. People are no longer going above and beyond when it doesn't suit them at work, as seen by the rise of <a href=\"https:\/\/www.linkedin.com\/news\/story\/what-is-quiet-quitting-4887785\/\">Quiet Quitting<\/a>, a controversial replacement for resignations.<\/p>\n<p><strong>The solution? Give employees respect and recognition<\/strong>, says Gallup CEO Jon Clifton. According to a Gallup poll, while 20% of workers worldwide are thriving, 19% are \u201cdownright miserable,\u201d says Clifton. He argues the greatest approach to keep people from \u201crunning\u201d from work is to establish better work environments that meet workers\u2019 basic but unmet needs: clear job objectives, suitable resources for doing their best work, opportunities to learn and improve, and managers who help them through it all.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/bruce-willis\/\">Bruce Willis<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/climate\/\">Climate<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/for-your-commute\/\">FOR YOUR COMMUTE<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/great-resignation\/\">Great Resignation<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/health\/\">health<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/quiet-quitting\/\">Quiet quitting<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/work-life\/\">work life<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"553112\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">      \r\n<section id=\"advertiser\" class=\"enterprise-adv issue-section\">\r\n    <div class=\"issue-section__content\" style=\"flex-direction: column;\">\r\n  \r\n                <h4 class=\"wp-block-heading has-text-align-center has-normal-font-size\">\r\n                <span class=\"has-primary-color stk-highlight\">This publication is proudly sponsored by<\/span><\/h4>\r\n                \r\n\r\n                \r\n                <div class=\"wp-block-stackable-carousel alignwide stk-block-carousel stk--is-slide stk--infinite-scroll stk--arrows-justify-space-between stk--arrows-align-center stk-block stk-a38cfb2 sponsor-slider-container mb-0\" data-slides-to-show=\"3\" data-block-id=\"a38cfb2\"><style>.stk-a38cfb2 {--slides-to-show:3 !important;}.stk-a38cfb2 .stk-block-carousel__button{background:#00000099 !important;fill:#FFFFFF !important;border-radius:4px 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256 34.484 101.255c-9.335-9.379-9.317-24.544.04-33.901l22.667-22.667c9.373-9.373 24.569-9.373 33.941 0L285.475 239.03c9.373 9.372 9.373 24.568.001 33.941z\"><\/path><\/svg><\/button><\/div><\/div><div class=\"stk-block-carousel__dots\" role=\"list\" data-label=\"Slide %%d\"><\/div><\/div><\/div>\r\n        <\/div>\r\n<\/section> \r\n\r\n\n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"553113\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                story-section            \"\r\n            id=\"553113\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">3<\/div>\r\n\r\n                    <p class=\"f-graphik\">ENTERPRISE RECOMMENDS<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/10\/20\/mollys-game-olympic-skier-by-game-poker-hustler-by-night\/\">\r\n                            Molly\u2019s Game: Olympic skier by game, poker hustler by night                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/10\/20\/mollys-game-olympic-skier-by-game-poker-hustler-by-night\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n           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class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>? <\/strong><strong>ON THE TUBE TONIGHT-<\/strong><br \/> (all times CLT)<\/p>\n<p><strong>A must-watch movie based on a true story:<\/strong> <a href=\"https:\/\/www.imdb.com\/title\/tt4209788\/\">Molly\u2019s Game<\/a> is based on Molly Bloom\u2019s 2014 memoir, an Olympic-class skier who created the world\u2019s most exclusive under-ground poker empire, hosting VIPs, business tycoons, and the Russian mob. The film follows Bloom as her business gets exposed owing to involvement of the Italian mafia, leading to her becoming an FBI target. The 2017 American biographical crime drama starred Jessica Chastain and Idris Elba, and was directed by Aaron Sorkin. <a href=\"https:\/\/bit.ly\/3NTTdUY\">Stream it on Shahid<\/a>.<\/p>\n<hr class=\"grey-line\">\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/enterprise-recommends\/\">Enterprise Recommends<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/on-the-tube-tonight\/\">On The Tube Tonight<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"553120\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                story-section            \"\r\n            id=\"553120\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">4<\/div>\r\n\r\n                    <p class=\"f-graphik\">GO WITH THE FLOW<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/10\/20\/edita-to-buy-back-another-3-8-of-shares-over-3-months\/\">\r\n                            Edita to buy back another 3.8% of shares over 3 months                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/10\/20\/edita-to-buy-back-another-3-8-of-shares-over-3-months\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); navigator.clipboard.writeText('https:\/\/enterpriseam.com\/egypt\/2022\/10\/20\/edita-to-buy-back-another-3-8-of-shares-over-3-months\/')\">\n                    Copy Link                <\/a>\n\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https:\/\/enterpriseam.com\/egypt\/2022\/10\/20\/edita-to-buy-back-another-3-8-of-shares-over-3-months\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=Edita to buy back another 3.8% of shares over 3 months&url=https:\/\/enterpriseam.com\/egypt\/2022\/10\/20\/edita-to-buy-back-another-3-8-of-shares-over-3-months\/\">\n                    X                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/twitter-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/shareArticle?mini=true&url=https:\/\/enterpriseam.com\/egypt\/2022\/10\/20\/edita-to-buy-back-another-3-8-of-shares-over-3-months\/&title=Edita to buy back another 3.8% of shares over 3 months\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=Edita+to+buy+back+another+3.8%25+of+shares+over+3+months+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F10%2F20%2Fedita-to-buy-back-another-3-8-of-shares-over-3-months%2F\">\n                    WhatsApp                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/whatsapp-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n        <\/ul>\n    <\/div>\n        <\/div>\r\n                    \r\n                <\/div>\r\n\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/10\/20\/edita-to-buy-back-another-3-8-of-shares-over-3-months\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-553120\" class=\"content-area-description single-story post-553120 post type-post status-publish format-standard hentry category-go-with-the-flow tag-capital-markets tag-edita tag-egx tag-enterprisepm tag-go-with-the-flow wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><a class=\"content-anchor\" id=\"tldr-story-06\"><\/a> <strong>Edita\u2019s board of directors has approved plans to buy back 3.8% of its shares<\/strong> as the company looks to support its share price, it said in disclosures to the EGX (<a href=\"https:\/\/ent.news\/2022\/10\/Edita-19-10-2022.pdf\">pdf<\/a> and <a href=\"https:\/\/ent.news\/2022\/10\/%D8%A7%D9%8A%D8%AF%D9%8A%D8%AA%D8%A7-%D8%AA%D8%B9%D9%87%D8%AF%D8%A7%D8%AA-19-10-2022.pdf\">pdf<\/a>) yesterday. The company will repurchase 28 mn shares over the next three months, taking its buyback program to 4.8%, having already repurchased 1% of its shares during August and September. The company did not disclose how much it plans to spend on the repurchases.<\/p>\n<p><strong>The buybacks seem to be doing the trick:<\/strong> Since <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/4fba9c8d-942d-43ab-b73d-0ecb00e9df6c\">announcing the program<\/a> at the beginning of August, Edita\u2019s share price has rebounded almost 20% to reach highs not seen since 2020. Shares fell 1.0% to EGP 9.62 during today\u2019s trading session.<\/p>\n<hr class=\"grey-line\">\n<p><strong>The EGX30 rose 1.2% at today\u2019s close<\/strong> on turnover of EGP 1.18 bn (14.7% above the 90-day average). Foreign investors were net sellers. The index is down 14.0% YTD.<\/p>\n<p><strong>In the green: <\/strong>Fawry (+5.6%), Ezz Steel (+4.4%) and e-Finance (+3.5%).<\/p>\n<p><strong>In the red: <\/strong>Telecom Egypt (-1.5%), QNB-Alahly (-1.4%) and Talaat Moustafa Holding (-0.5%).<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/capital-markets\/\">capital markets<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/edita\/\">Edita<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/egx\/\">EGX<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/go-with-the-flow\/\">Go with the Flow<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"553121\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                story-section            \"\r\n            id=\"553121\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">5<\/div>\r\n\r\n                    <p class=\"f-graphik\">Office life<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/10\/20\/why-your-company-might-eventually-hit-a-productivity-ceiling\/\">\r\n                            Why your company might eventually hit a productivity ceiling                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/10\/20\/why-your-company-might-eventually-hit-a-productivity-ceiling\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); navigator.clipboard.writeText('https:\/\/enterpriseam.com\/egypt\/2022\/10\/20\/why-your-company-might-eventually-hit-a-productivity-ceiling\/')\">\n                    Copy Link                <\/a>\n\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https:\/\/enterpriseam.com\/egypt\/2022\/10\/20\/why-your-company-might-eventually-hit-a-productivity-ceiling\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=Why your company might eventually hit a productivity ceiling&url=https:\/\/enterpriseam.com\/egypt\/2022\/10\/20\/why-your-company-might-eventually-hit-a-productivity-ceiling\/\">\n                    X                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/twitter-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/shareArticle?mini=true&url=https:\/\/enterpriseam.com\/egypt\/2022\/10\/20\/why-your-company-might-eventually-hit-a-productivity-ceiling\/&title=Why your company might eventually hit a productivity ceiling\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=Why+your+company+might+eventually+hit+a+productivity+ceiling+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F10%2F20%2Fwhy-your-company-might-eventually-hit-a-productivity-ceiling%2F\">\n                    WhatsApp                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/whatsapp-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n        <\/ul>\n    <\/div>\n        <\/div>\r\n                    \r\n                <\/div>\r\n\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/10\/20\/why-your-company-might-eventually-hit-a-productivity-ceiling\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2022\/10\/485.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"553122\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2022\/10\/20\/why-your-company-might-eventually-hit-a-productivity-ceiling\/485-jpg-8\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/10\/485.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"485.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/10\/485.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/10\/485.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-553121\" class=\"content-area-description single-story post-553121 post type-post status-publish format-standard has-post-thumbnail hentry category-office-life tag-enterprisepm tag-laurence-peter tag-office-life tag-peter-principle wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><a class=\"content-anchor\" id=\"tldr-story-03\"><\/a> <strong>Have you been promoted into incompetence yet? <\/strong>Hierarchies are all around us and they often work in strange (and not so effective) ways. In the workplace \u2014 where many of us are most familiar with hierarchy \u2014 a decades-old theory known as the Peter Principle suggests that unfettered promotions within organizations are destined to leave most firms lost and mismanaged over the long run.<\/p>\n<p><strong>The ABCs of the Peter Principle: <\/strong>First coined in the 1960s by University of Southern California Professor Laurence J. Peter, the Peter Principle suggests that at the root of all managerial incompetence is a general tendency among firms to constantly promote high-performing workers into roles they aren\u2019t suited for or unprepared to take on. The logical endpoint to this phenomenon, Peter suggested, is that every single worker at an organization ends up occupying a role they are incompetent at fullfilling. \u201cIn any hierarchy an employee tends to rise to his level of incompetence and that\u2019s where he stays,\u201d says Peter in an interview recorded back in 1974 (shoutout to the longevity of the BBC archive: <a href=\"https:\/\/www.youtube.com\/watch?v=39wzku9KIEM\">watch, runtime 6:47<\/a>).<\/p>\n<p><strong>It may have started life as a tongue-in-cheek observation, but the Peter Principle begs a few essential questions <\/strong>managers and workers can benefit from entertaining, including: Who is actually best suited for the specific demands of a new role? And if it ain\u2019t broke, why fix it?<\/p>\n<p><strong>The problem is that being good at one job doesn\u2019t necessarily make you good at the one \u2018above\u2019 it: <\/strong>To Peter, who co-authored his 1969 book on the principle along with Raymond Hull, the issue isn\u2019t that incompetence is pervasive among the workforce. It\u2019s that people will continue to move up the ranks as long as they excel at what they do \u2014 but then reach a ceiling where they can no longer ascend the professional ladder and even struggle to meet the basic demands of their new role.<\/p>\n<p><strong>Doing a job \u2260 managing somebody else doing it:<\/strong> The skills and traits required to expertly fulfill a specific task are not the same as the skills required to effectively manage others (<a href=\"https:\/\/www.youtube.com\/watch?v=IbFr5DAyZBM\">watch, runtime 7:09<\/a>). On the flipside, some people might rank high in managerial ability even when they have no idea how to do the tasks carried out by the people who work under them.<\/p>\n<p><strong>If you feel a bit too senior right now \u2014 it\u2019s (probably) not your fault.<\/strong> Another reason is of course due to inadequate training. Companies can sometimes better prepare recently promoted employees by offering more extensive training, rather than assuming they are naturally fit for the job because they were able to perform well in the past.<\/p>\n<p><strong>There are of course some holes in this model: <\/strong>The Peter Principle paints a very simplistic and perhaps dated picture of businesses and the workforce \u2014 which have become much <a href=\"https:\/\/www.goethe.de\/prj\/mis\/en\/mit\/dpp.html\">more adaptive<\/a> and complex in the intervening 50 years. People are more likely to change jobs than they were before and often need a wider skillset to land a job today. Crucially, we are all continuously learning and improving on the job \u2014 a point that might have been overlooked by Peter.<\/p>\n<p><strong>Discrimination is notably absent from this theory:<\/strong> For women and minority groups, who have long faced <a href=\"https:\/\/hbr.org\/2014\/12\/overcoming-the-peter-principle\">disadvantages<\/a> when it comes to pay and the prospects of promotion, the Peter Principle can ring awfully hollow.<\/p>\n<p><strong>Something to consider if you run a business: Promotion is not the only reward. <\/strong>Instead of promoting top performers, companies could opt to offer incentives or additional pay for those excelling at their responsibilities. Companies who employ additional pay as their preferred method of reward are also the ones most likely to promote managers who go on to perform the best, <a href=\"https:\/\/ent.news\/2022\/10\/SSRN-id3127172.pdf\">according to a 2018 study (pdf)<\/a> examining the Peter Principle among 214 sales firms.<\/p>\n<p><strong>Or consider dual career ladders:<\/strong> Firms could also follow <a href=\"https:\/\/www.hbs.edu\/faculty\/Pages\/item.aspx?num=355\">Microsoft\u2019s lead<\/a> in creating two distinct promotional mechanisms that decouple responsibility from pay. At Microsoft, programmers can follow a technical career track with increasing tiers of financial reward and prestige, while leaders can follow a distinct yet equally rewarding track specifically designed to recognize managerial performance.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/laurence-peter\/\">Laurence Peter<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/office-life\/\">office life<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/peter-principle\/\">Peter Principle<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"553123\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                story-section            \"\r\n            id=\"calendar\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/10\/20\/553123\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-553123\" class=\"content-area-description single-story post-553123 post type-post status-publish format-standard hentry category-calendar wpautop entry\">\n\n\t\t\t<hr class=\"wp-block-separator has-text-color has-primary-color has-alpha-channel-opacity has-primary-background-color has-background is-style-wide\">\n\n\t\t<h2 class=\"wp-block-heading mt-0 has-primary-color has-text-color has-link-color has-normal-font-size\" style=\"padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px\">\n\t\t\t<strong> CALENDAR<\/strong>\n\t\t<\/h2>\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>OCTOBER<\/strong><\/p>\n<p>October: Air Sphinx, EgyptAir\u2019s low-cost subsidiary to <a href=\"https:\/\/www.shorouknews.com\/news\/view.aspx?cdate=25062022&id=06c1fc4b-9551-4f6c-a782-70bdec4b30f0\">commence operations<\/a>.<\/p>\n<p>October: Fuel pricing committee meets to decide quarterly fuel prices.<\/p>\n<p>23-25 \u200b\u200bOctober (Sunday-Tuesday): Egypt economic conference, Cairo, Egypt.<\/p>\n<p>24 October (Monday): <a href=\"https:\/\/fci.nl\/en\/event\/empowering-sustainable-trade-flows-factoring-facilitation-egyptian-trade-difficult-times?language_content_entity=en#register\">Empowering Sustainable Trade Flows with Factoring<\/a> conference, St. Regis Cairo.<\/p>\n<p>26-28 October (Wednesday-Friday): Egypt <a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid0LXkrA1yvJmfVxBuUF9fA94GeAoPkbWA44cRRaWhJEzcu69p5eGocBaQXqeH6AmaEl\">celebrates 50 years of ties<\/a> with the UAE.<\/p>\n<p>27 October (Thursday): European Central Bank monetary policy meeting.<\/p>\n<p>27-30 October (Thursday-Sunday): <a href=\"https:\/\/cairoict.com\/\">Cairo ICT<\/a>, Egypt International Exhibition Center, New Cairo.<\/p>\n<p>30 October-1 November (Sunday-Tuesday): <a href=\"https:\/\/www.egypt-energy.com\/en\/home.html\">Egypt Energy<\/a>, Egypt International Exhibition Center (EIEC), New Cairo.<\/p>\n<p>Late October-14 November: 3Q2022 earnings season.<\/p>\n<p>Late October: First Abu Dhabi Bank to <a href=\"https:\/\/bit.ly\/3eEUoeA\">complete<\/a> full integration with Bank Audi\u2019s Egyptian operations after <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/7db0f456-9e63-420a-b309-a9a455fb3667\">merger<\/a>.<\/p>\n<p><strong>NOVEMBER<\/strong><\/p>\n<p>1-2 November (Tuesday-Wednesday): Federal Reserve interest rate meeting.<\/p>\n<p>1-2 November (Tuesday-Wednesday): Arab League annual summit, Algiers, Algeria.<\/p>\n<p>3 November (Thursday): Central Bank of Egypt\u2019s Monetary Policy Committee meeting.<\/p>\n<p>3-5 November (Thursday-Saturday): Egypt Fashion Week.<\/p>\n<p>4-6 November (Friday-Sunday): <a href=\"https:\/\/www.autotechegypt.com\/en\/home.html\">Autotech<\/a> auto exhibition, Cairo International Exhibition and Convention Center.<\/p>\n<p>6-18 November (Sunday-Friday): Egypt will host <a href=\"https:\/\/cop27.eg\/\">COP27<\/a> in Sharm El Sheikh.<\/p>\n<p>7 November (Monday): The inauguration of the first line of the <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/e2356273-f17c-4a5b-a987-663aab9a2e29\">high-speed rail<\/a>.<\/p>\n<p>9 November (Wednesday): Finance Ministry to host \u201c<a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid029A7ytdAhcMYQsLo8xQ6Ne5FuvWWDty9yYj66v4LMifKZ611tqzps8jkcw4P7fLMhl\">Finance Day<\/a>\u201d at COP27.<\/p>\n<p>7-13 November (Mon-Sun): The International University Sports Federation (FISU) <a href=\"https:\/\/www.worldsquash.org\/2022-fisu-world-university-championship-squash-to-take-place-in-egypt\/\">World University<\/a> Squash Championships, New Giza.<\/p>\n<p>21 November-18 December (Monday-Sunday): 2022 Fifa World Cup, Qatar.<\/p>\n<p>27 - 28 November (Thursday-Friday): The first edition of the <a href=\"https:\/\/twitter.com\/Extranewstv\/status\/1579478836366176256\">Egypt Media Forum<\/a>.<\/p>\n<p><strong>DECEMBER<\/strong><\/p>\n<p>3 December (Saturday): Dior Men\u2019s pre-fall collection show in Giza.<\/p>\n<p>13-14 December (Tuesday-Wednesday): Federal Reserve interest rate meeting.<\/p>\n<p>13-15 December (Tuesday-Thursday): US-Africa Leaders Summit.<\/p>\n<p>15 December (Thursday): European Central Bank monetary policy meeting.<\/p>\n<p>22 December (Thursday): Central Bank of Egypt\u2019s Monetary Policy Committee meeting.<\/p>\n<p>December: The Sixth of October dry port <a href=\"https:\/\/bit.ly\/3u3uB4u\">will begin operations<\/a>.<\/p>\n<p>December: Egyptian Automotive Summit.<\/p>\n<p>December: Egypt to <a href=\"https:\/\/bit.ly\/3bVoWYy\">expand Sudan electricity link capacity<\/a> to 300 MW.<\/p>\n<p><strong>JANUARY 2023<\/strong><\/p>\n<p>January: EGX-listed companies and non-bank lenders will submit ESG reports for the first time.<\/p>\n<p>January: Fuel pricing committee meets to decide quarterly fuel prices.<\/p>\n<p>1 January (Sunday): Use of Nafeza <a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/381373340699759\">becomes compulsory<\/a> for air freight.<\/p>\n<p>1 January (Sunday): Residential electricity bills are set to rise as per the government\u2019s <a href=\"https:\/\/ent.news\/2020\/6\/%D8%A7%D9%84%D9%85%D8%A4%D8%AA%D9%85%D8%B1-%D8%A7%D9%84%D8%B5%D8%AD%D9%81%D9%89-%D9%84%D8%A3%D8%B3%D8%B9%D8%A7%D8%B1-%D8%A7%D9%84%D9%83%D9%87%D8%B1%D8%A8%D8%A7%D8%A1-%D9%84%D9%84%D8%AE%D9%85%D8%B3-%D8%B3%D9%86%D9%88%D8%A7%D8%AA-%D8%A7%D9%84%D9%82%D8%A7%D8%AF%D9%85%D8%A9-9-6-2020-1.pdf\">six-year roadmap (pdf)<\/a> to restructure electricity prices by 2025.<\/p>\n<p>7 January (Saturday): Coptic Christmas.<\/p>\n<p>24 January-6 February: The 54th Cairo International Book Fair, Egypt International Exhibition Center<\/p>\n<p>25 January (Wednesday): 25 January revolution anniversary \/ Police Day.<\/p>\n<p>26 January (Thursday): National holiday in observance of 25 January revolution anniversary \/ Police Day.<\/p>\n<p>30 January-1 February (Monday-Wednesday): CI Capital\u2019s Annual MENA Investor Conference 2023, Cairo, Egypt.<\/p>\n<p><strong>FEBRUARY 2023<\/strong><\/p>\n<p>11 February (Saturday): Second semester of 2022-2023 academic year begins for public universities.<\/p>\n<p>13-15 February (Monday-Wednesday): The <a href=\"https:\/\/www.egyps.com\/\">Egypt Petroleum Show (Egyps)<\/a>, Egypt International Exhibition Center, Cairo.<\/p>\n<p>23-27 February (Thursday-Monday): The eighth annual <a href=\"https:\/\/www.bwe21.com\/2023-conference\/\">Business Women of Egypt\u2019s Women for Success conference<\/a>.<\/p>\n<p><strong>MARCH 2023<\/strong><\/p>\n<p>March: 4Q2022 earnings season.<\/p>\n<p>23 March (Wednesday): First day of Ramadan (TBC). Maghreb will be at 6:08pm CLT.<\/p>\n<p><strong>APRIL 2023<\/strong><\/p>\n<p>17 April (Monday): Sham El Nessim.<\/p>\n<p>22 April (Saturday): Eid El Fitr (TBC).<\/p>\n<p>25 April (Tuesday): Sinai Liberation Day.<\/p>\n<p>27 April (Thursday): National holiday in observance of Sinai Liberation Day (TBC).<\/p>\n<p>Late April &ndash; 15 May: 1Q2023 earnings season.<\/p>\n<p><strong>MAY 2023<\/strong><\/p>\n<p>1 May (Monday): Labor Day.<\/p>\n<p>4 May (Thursday) National holiday in observance of Labor Day (TBC).<\/p>\n<p>22-26 May (Monday-Friday): Egypt <a href=\"https:\/\/www.afdb.org\/en\/news-and-events\/press-releases\/african-development-bank-group-concludes-annual-meetings-governors-endorse-banks-vision-next-10-years-51974#:~:text=The%20new%20Board%20of%20Governors,from%2022%2D26%20May%202023.\">will host<\/a> the African Development Bank (AfDB) annual meetings in Sharm El Sheikh.<\/p>\n<p><strong>JUNE 2023<\/strong><\/p>\n<p>19-21 June (Monday-Wednesday) Egypt Infrastructure and Water Expo <a href=\"https:\/\/ent.news\/2022\/9\/Announcement__EGYPT_INFRASTRUCTURE_AND_WATER_EXPO_LAUNCHES_JUNE_2023.pdf\">debuts<\/a> at the Egypt International Exhibition Center.<\/p>\n<p>28 June-2 July (Wednesday-Sunday): Eid El Adha (TBC).<\/p>\n<p>30 June (Friday): June 30 Revolution Day.<\/p>\n<p><strong>JULY 2023<\/strong><\/p>\n<p>18 July (Tuesday): Islamic New Year.<\/p>\n<p>20 July (Thursday): National holiday in observance of Islamic New Year (TBC).<\/p>\n<p>23 July (Sunday): Revolution Day.<\/p>\n<p>27 July (Thursday): National holiday in observance of Revolution Day.<\/p>\n<p>Late July-14 August: 2Q2023 earnings season.<\/p>\n<p><strong>SEPTEMBER 2023<\/strong><\/p>\n<p>26 September (Tuesday): Prophet Muhammad\u2019s birthday (TBC).<\/p>\n<p>28 September (Thursday): National holiday in observance of Prophet Muhammad\u2019s birthday (TBC).<\/p>\n<p><strong>OCTOBER 2023<\/strong><\/p>\n<p>6 October (Friday): Armed Forces Day.<\/p>\n<p>Late October-14 November: 3Q2023 earnings season.<\/p>\n<p><strong>EVENTS WITH NO SET DATE <\/strong><\/p>\n<p>2H 2022: The inauguration of the Grand Egyptian Museum.<\/p>\n<p>2H 2022: <a href=\"https:\/\/www.ief.org\/news\/egypt-to-host-8th-ief-igu-ministerial-gas-forum-in-2022\">IEF-IGU Ministerial Gas Forum<\/a>, Egypt. Date + location TBA.<\/p>\n<p>2H 2022: The government will have vaccinated 70% of the population.<\/p>\n<p>3Q 2022: Ayady\u2019s consumer financing arm, The Egyptian Company for Consumer Finance Services, to release its first financing product.<\/p>\n<p>3Q 2022: Swvl to close <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/53e17b15-78b9-421a-81f5-9d3d5ee0227d\">acquisition of<\/a><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/53e17b15-78b9-421a-81f5-9d3d5ee0227d\">Urbvan<\/a><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/53e17b15-78b9-421a-81f5-9d3d5ee0227d\">Mobility<\/a>.<\/p>\n<p>4Q 2022: Infinity + Africa Finance Corporation to close acquisition of Lekela Power.<\/p>\n<p>4Q 2022: Electricity Ministry to tender six solar projects in Aswan Governorate.<\/p>\n<p>4Q2022: Raya Holding subsidiary Aman and Qalaa Holdings\u2019 Taqa Arabia to launch their fintech company.<\/p>\n<p>4Q 2022: Saudi Jamjoom Pharma to <a href=\"https:\/\/bit.ly\/3R7SGzP\">inaugurate its EGP 1 bn pharma factory<\/a> in El Obour.<\/p>\n<p>End of 2022: Decent Life first phase scheduled for completion.<\/p>\n<p>End of 2022: e-Aswaaq\u2019s tourism platform will complete the roll out of its ticketing and online booking portal across Egypt.<\/p>\n<p>2023: Egypt <a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/380561820780911\">will host<\/a> the Asian Infrastructure Investment Bank\u2019s Annual Meeting of the Board of Governors in 2023.<\/p>\n<p>1Q 2023: Adnoc Distribution\u2019s acquisition of 50% of TotalEnergies Egypt to close.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n","protected":false},"excerpt":{"rendered":"","protected":false},"featured_media":553107,"template":"","categories":[],"tags":[],"class_list":["post-553106","afternoon","type-afternoon","status-publish","has-post-thumbnail","hentry","wpautop","entry"],"acf":{"mongo_id":"aca140fa-69d3-48c9-bb08-b1db4a15aa2d","teaser":"","photo_url":"https:\/\/ent.news\/2022\/10\/72.jpg"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - 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