{"id":542596,"date":"2022-01-05T03:40:48","date_gmt":"2022-01-05T03:40:48","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2022\/01\/05\/this-morning-were-all-off-on-thursday-2x-pcr-tests-to-enter-dubai-apples-paying-off-big-time-for-buffett\/"},"modified":"2022-01-05T03:40:48","modified_gmt":"2022-01-05T03:40:48","slug":"this-morning-were-all-off-on-thursday-2x-pcr-tests-to-enter-dubai-apples-paying-off-big-time-for-buffett","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2022\/01\/05\/this-morning-were-all-off-on-thursday-2x-pcr-tests-to-enter-dubai-apples-paying-off-big-time-for-buffett\/","title":{"rendered":"THIS MORNING: We\u2019re all off on Thursday; 2x PCR tests to enter Dubai; Apple\u2019s paying off big time for Buffett"},"content":{"rendered":"

Good morning, wonderful people, and welcome to our final edition of EnterpriseAM for this holiday-shortened workweek. <\/strong>A very Merry Christmas to everyone celebrating this weekend \u2014 here\u2019s to a wonderful break with family and friends.<\/p>\n

<\/a> PSA #1- We\u2019re all off on Thursday<\/strong>, 6 January in observance of Coptic Christmas, which falls on Friday. The EGX<\/a>, central bank<\/a>, cabinet<\/a> and manpower ministry<\/a> have all issued statements confirming it\u2019s a national holiday. Your next regularly scheduled holiday will be Thursday, 27 January. We then start a long holiday drought stretching into late-April, at which time we\u2019ll be deep into Ramadan.<\/p>\n

<\/a> PSA #2- Heading to Dubai from Egypt? You\u2019ll need a QR-coded PCR test <\/strong>before<\/strong> departure \u2014 <\/strong>and have to take another one on arrival. <\/strong>All travellers to Dubai must show a negative PCR test taken no more than 72 hours previously \u2014 but PCR certificates for passengers traveling from Egypt (as well as India and Vietnam) must also include a QR code, under new guidance on the Emirates airlines website<\/a>. Egypt also made the list of dozens of countries from which arrivals to Dubai must also take another covid-19 PCR test upon landing in the emirate \u2014 and remain in their hotels or homes until they receive a negative result.<\/p>\n

There\u2019s no word yet on the outcome of the final votes that were scheduled for yesterday <\/strong>in the House of Representatives<\/strong> on the proposed fintech act<\/a> and the unified budget act<\/a>. The House did give its preliminary approval to the Unified Planning Act<\/a> in a plenary session, according to Ahram Gate<\/a>. The legislation would, if passed, dictate how governorate-level economic, social, and urban development plans are implemented.<\/p>\n

WHAT\u2019S HAPPENING TODAY-<\/strong><\/p>\n

THE BIG STORY ABROAD- The Big Quit is showing no signs of slowing in the US<\/strong> after a record 4.5 mn workers quit their jobs in November, according to official figures<\/a> released yesterday. The so-called \u2018great resignation<\/a>\u2019 was a hot topic throughout 2021 in the United States as the number of people quitting their jobs kept notching new records, indicating a tightening labor market and stronger wage growth. The figures are everywhere in the business press this morning from Bloomberg<\/a> and the Financial Times<\/a> to Reuters<\/a> and the Wall Street Journal<\/a>.<\/p>\n

<\/a> Warren Buffett\u2019s rethink on Apple could prove to be his best play ever:<\/strong> The ex-tech skeptic has made more than USD 120 bn on paper thanks to his pivot into Apple stock, according to CNBC<\/a>. Buoyed by the historic covid-fuelled tech rally, Apple on Monday became the first company to clock a USD 3 tn market cap<\/a>, after adding USD 1 tn to its market value in less than 16 months. Buffett, who began buying shares in the company in 2016 and owned a 5.4% stake<\/a> in Apple as of last September, has seen his USD 36 bn investment surge almost 400% to USD 160 bn.<\/p>\n

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MARKET WATCH-<\/strong><\/p>\n

The OPEC+ alliance of oil producers is going ahead with its plan to increase output by <\/strong>400k barrels a day in February<\/strong> amid indications that the omicron variant will only have a limited impact on global demand, Reuters<\/a> reports.<\/p>\n

Do markets think covid is roaring to an end? The price of points in that direction. <\/strong>Brent and US crude both closed up yesterday, prompting one energy analyst to tell the newswire that \u201cit appears that the market [thinks] that omicron is the beginning of the end of covid-19.\u201d<\/p>\n

CIRCLE YOUR CALENDAR-<\/strong><\/p>\n

Key news triggers to keep your eye on:<\/strong><\/p>\n