{"id":542671,"date":"2022-01-11T04:12:36","date_gmt":"2022-01-11T04:12:36","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2022\/01\/11\/this-morning-egypts-afcon-2021-journey-begins-tonight-fed-vice-chair-resigns-amid-scandal\/"},"modified":"2022-01-11T04:12:36","modified_gmt":"2022-01-11T04:12:36","slug":"this-morning-egypts-afcon-2021-journey-begins-tonight-fed-vice-chair-resigns-amid-scandal","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2022\/01\/11\/this-morning-egypts-afcon-2021-journey-begins-tonight-fed-vice-chair-resigns-amid-scandal\/","title":{"rendered":"THIS MORNING: Egypt\u2019s Afcon 2021 journey begins tonight; Fed vice chair resigns amid scandal"},"content":{"rendered":"

Good morning, friends, and happy hump day. <\/strong>Two themes stand out in a very busy issue this morning: The crazy progress we\u2019ve made building out green energy infrastructure in the past decade (see Coffee with\u2026 and Going Green, below) and continued strong interest in retail (where the sports segment is about to see high-energy UAE competitor GMG invest here).<\/p>\n

EARTHQUAKE WATCH:<\/strong> A magnitude 6.4 earthquake off the coast of Cyprus in the early hours of this morning was felt in Egypt<\/a>, with some of us residing in the People\u2019s Republic of Maadi noticing a slight tremor soon after 3am. We weren\u2019t the only ones: Hundreds of people in Egypt have taken to social media to report feeling the shake. No damage has been reported in Egypt or Cyprus.<\/p>\n

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

<\/a> Egypt kicks off its Afcon 2021 campaign today<\/strong>, meeting Nigeria in the opening game of Group D at 6pm. The other tie in the group will see Sudan play Guinea-Bissau at 9pm.<\/p>\n

It\u2019s day two of the <\/strong>World Youth Forum<\/a><\/strong> in Sharm El Sheikh<\/strong>, which got underway yesterday<\/a>. You can check out the full agenda for the forum here (pdf)<\/a>. President Abdel Fattah El Sisi met with Lebanese Prime Minister Najib Mikati yesterday on the sidelines of the forum, according to an Ittihadiya statement<\/a>.<\/p>\n

Chinese ride-sharing app DiDi <\/strong>started operating in Cairo<\/a><\/strong> yesterday, <\/strong>a few months after it entered Egypt with its launch<\/a> in Alexandria.<\/p>\n

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

PSA- Calling seed-stage fintech startups:<\/strong> You have until Tuesday, 15 February to apply to Orange Ventures\u2019 seed challenge for a shot at EUR 500k. To qualify you need to have a seed-stage fintech business that has raised less than EUR 1 mn so far. You can apply here<\/a>.<\/p>\n

Abu Dhabi Sustainability Week looks ahead to COP27: <\/strong>The UAE will host heads of state, business leaders and policymakers at Abu Dhabi Sustainability Week (ADSW)<\/a> from 15-19 January. ADSW will see 45k attendees from 175 countries meet to discuss climate action. Expectations for the UN\u2019s COP27 summit<\/a> in Sharm El-Sheikh in November will likely be high on the agenda. COP28 is set to be<\/a> hosted by the UAE in 2023.<\/p>\n

South Korean President Moon Jae-in is due in town from 20-21 January<\/strong> on an official visit, during which he will meet President Abdel Fattah El Sisi. Bilateral ties and how to deepen cooperation on environmentally-friendly businesses are high on the agenda, according to Youm7<\/a> and the Korean press<\/a>. Egypt is the last leg of a Middle East tour that will also take Moon to the UAE and Saudi Arabia.<\/p>\n

Check out our full calendar on the web<\/a><\/strong> for a comprehensive listing of upcoming news events, national holidays and news triggers.<\/p>\n

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The roundup of news and trends that move your markets and shape corporate agendas delivered straight to your inbox.<\/p>\n

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THE BIG STORY ABROAD- Federal Reserve vice chair Richard Clarida will step down two <\/strong>weeks early<\/strong> amid questions about his trading activity during the early days of the pandemic. Clarida\u2019s four-year stint was supposed to wrap at the end of the month but the central bank announced<\/a> yesterday he will resign on Friday.<\/p>\n

The news is getting the headline treatment in the global business press<\/strong>, from the Financial Times<\/a> to CNBC<\/a> and the Wall Street Journal<\/a>.<\/p>\n

And now back to the Fed\u2019s regularly scheduled programming: <\/strong>Fed head Jay Powell<\/strong> will go before the Senate\u2019s banking committee today<\/a> in a hearing to confirm his nomination by President Joe Biden for a second four-year term at the helm. Fed governor Lael Brainard<\/strong>\u2019s confirmation hearing to replace Clarida as vice-chair is set for Thursday.<\/p>\n

The Fed is still teasing coming rate hikes:<\/strong> The central bank will \u201cuse the tools\u201d at its disposal to \u201cprevent higher inflation from becoming entrenched,\u201d Powell will say in prepared remarks<\/a> at today\u2019s hearing, indicating the bank\u2019s readiness to hike interest rates this year.<\/p>\n

A changing of the guard is also underway at the IMF:<\/strong> UC-Berkeley economist Pierre-Olivier Gourinch will be the IMF\u2019s new chief economist, replacing Gita Gopinath, the fund announced in a<\/a>statement<\/a> yesterday. Gopinath willbecome the fund\u2019s first deputy managing director<\/a>.<\/p>\n

The progress (or lack thereof) in yesterday\u2019s talks between US and Russia is featuring <\/strong>heavily on the global front pages this morning.<\/strong> Talks aimed at calming tensions over Ukraine didn\u2019t get very far yesterday after the US indicated that Moscow\u2019s key demand \u2014 preventing Ukraine from entering Nato \u2014 is not up for discussion. The story is getting prominent treatment in the Washington Post<\/a>, Reuters<\/a> and the AP<\/a>.<\/p>\n

enterprise<\/p>\n

*** It\u2019s Going Green day \u2014 your weekly briefing of all things green in Egypt:<\/strong> Enterprise\u2019s green economy vertical focuses each Tuesday on the business of renewable energy and sustainable practices in Egypt, everything from solar and wind energy through to water, waste management, sustainable building practices and how you can make your business greener, whatever the sector.<\/p>\n

In today\u2019s issue:<\/strong> Over the next five years, the International Energy Agency expects countries in the MENA region to more than double their renewable energy production, with an eye on building a post-hydrocarbon future. But even as the regional growth in renewables \u2014 led by Egypt and others \u2014 gains momentum, MENA continues to lag behind other parts of the world that are pushing forwards with that shift at a faster pace.<\/p>\n","protected":false},"excerpt":{"rendered":"

Good morning, friends, and happy hump day. Two themes stand out in a very busy issue this morning: The crazy progress we\u2019ve made building out green energy infrastructure in the past decade (see Coffee with\u2026 and Going Green, below) and continued strong interest in retail (where the sports segment is about to see high-energy UAE […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[7204],"tags":[329,168,72,272,127,328,270,162,207,304,117,74,303],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-542671","post","type-post","status-publish","format-standard","hentry","category-what-were-tracking-today","tag-didi","tag-diplomacy","tag-enterpriseam","tag-imf","tag-politics","tag-ride-hailing","tag-russia","tag-sports","tag-transport","tag-ukraine","tag-us","tag-what-were-tracking-today","tag-world-youth-forum","wpautop","entry"],"acf":{"mongo_id":"658496cd-1c31-43cf-a6c1-092e2628235b","order":"0","is_powered_by":true,"story_type":"4","photo_url":"","photo_position":"above","related_issue":[542669],"teaser":"","voice_url":""},"yoast_head":"\nTHIS MORNING: Egypt\u2019s Afcon 2021 journey begins tonight; Fed vice chair resigns amid scandal - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2022\/01\/11\/this-morning-egypts-afcon-2021-journey-begins-tonight-fed-vice-chair-resigns-amid-scandal\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"THIS MORNING: Egypt\u2019s Afcon 2021 journey begins tonight; Fed vice chair resigns amid scandal\" \/>\n<meta property=\"og:description\" content=\"Good morning, friends, and happy hump day. 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There\u2019s plenty of good news today, including the first tentative sign of renewed foreign appetite for Egyptian debt and another boost to our regional energy hub ambitions (from The Company Formerly Known As Delek and a compatriot).Also notable: Six of\u2026","rel":"","context":"In "What We're Tracking Today"","block_context":{"text":"What We're Tracking Today","link":"https:\/\/enterpriseam.com\/egypt\/category\/what-were-tracking-today\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":558723,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/08\/24\/this-morning-pfizer-gets-ok-from-fda-g7-talk-afghanistan-today\/","url_meta":{"origin":542671,"position":1},"title":"THIS MORNING: Pfizer gets OK from FDA + G7 talk Afghanistan today","author":"enterpriseam admin","date":"24 August 2021","format":false,"excerpt":"Welcome to hump day, wonderful people. There\u2019s no single story dominating the news agenda as the nation remains firmly set in \u201cvacation mode\u201d heading into the second-to-last weekend of summer.And frankly, we\u2019re still digesting the fact that the delta variant is now in Egypt. And the notion (it\u2019s smart policy)\u2026","rel":"","context":"In "What We're Tracking Today"","block_context":{"text":"What We're Tracking Today","link":"https:\/\/enterpriseam.com\/egypt\/category\/what-were-tracking-today\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":581273,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/02\/07\/this-morning-pm-to-meet-croatian-president-today-govt-to-publish-green-hydrogen-strategy-within-a-month\/","url_meta":{"origin":542671,"position":2},"title":"THIS MORNING: PM to meet Croatian president today + Gov\u2019t to publish green hydrogen strategy within a month","author":"enterpriseam admin","date":"7 February 2023","format":false,"excerpt":"Good morning, friends, and happy hump day. We have a packed issue for you this morning, so let\u2019s jump right in:TAKE OUR JANUARY ENTERPRISE READER SURVEY and get a chance to break bread with us: Give us your thoughts on how 2022 panned out for your business and industry, and\u2026","rel":"","context":"In "What We're Tracking Today"","block_context":{"text":"What We're Tracking Today","link":"https:\/\/enterpriseam.com\/egypt\/category\/what-were-tracking-today\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/7\/race-2-1600px.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":578388,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/12\/27\/this-morning-central-bank-announces-exemptions-for-fx-withdrawal-limits\/","url_meta":{"origin":542671,"position":3},"title":"THIS MORNING: Central bank announces exemptions for FX withdrawal limits","author":"enterpriseam admin","date":"27 December 2022","format":false,"excerpt":"Good morning, good people: We\u2019re continuing our 2022 rewind today, looking back at the year in M&A, investment and capital markets.PSA: You\u2019re reading the penultimate EnterpriseAM issue of 2022. We\u2019re giving ourselves a well-earned three-day weekend to take us into the New Year, meaning that Wednesday will be the final\u2026","rel":"","context":"In "What We're Tracking Today"","block_context":{"text":"What We're Tracking Today","link":"https:\/\/enterpriseam.com\/egypt\/category\/what-were-tracking-today\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/12\/544.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":651202,"url":"https:\/\/enterpriseam.com\/egypt\/2017\/02\/07\/what-were-tracking-this-week-204\/","url_meta":{"origin":542671,"position":4},"title":"What we\u2019re tracking this week","author":"enterpriseam admin","date":"7 February 2017","format":false,"excerpt":"Among the other stories on which we\u2019re keeping an eye this fine winter morning: A cabinet shuffle is still in the cards, but Prime Minister Sherif Ismail is yet to provide guidance on which it might be announced.A delegation from the Confederation of Indian Industry is expected in Egypt between\u2026","rel":"","context":"In "What We\u2019re Tracking This Week"","block_context":{"text":"What We\u2019re Tracking This Week","link":"https:\/\/enterpriseam.com\/egypt\/category\/what-were-tracking-this-week\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":549621,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/09\/25\/this-morning-to-conference-or-not-to-conference-mps-return-next-week-an-olympic-bid\/","url_meta":{"origin":542671,"position":5},"title":"THIS MORNING: To conference or not to conference? MPs return next week + An Olympic bid?","author":"enterpriseam admin","date":"25 September 2022","format":false,"excerpt":"Good morning, friends. We\u2019re back in Omm El Donia after a week in Dubai \u2014 and reveling in the fact that it is now fall (ie: The Official Favorite Season of Enterprise). The national weather service tells us that Friday was the autumnal equinox, meaning we\u2019re in for about 89\u2026","rel":"","context":"In "What We're Tracking Today"","block_context":{"text":"What We're Tracking Today","link":"https:\/\/enterpriseam.com\/egypt\/category\/what-were-tracking-today\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/542671","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/comments?post=542671"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/542671\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/542669"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=542671"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=542671"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=542671"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=542671"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=542671"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}