{"id":545556,"date":"2022-04-04T04:02:22","date_gmt":"2022-04-04T04:02:22","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2022\/04\/04\/this-morning-ramadan-ad-drama-look-out-for-a-landmark-un-climate-report\/"},"modified":"2022-04-04T04:02:22","modified_gmt":"2022-04-04T04:02:22","slug":"this-morning-ramadan-ad-drama-look-out-for-a-landmark-un-climate-report","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2022\/04\/04\/this-morning-ramadan-ad-drama-look-out-for-a-landmark-un-climate-report\/","title":{"rendered":"THIS MORNING: Ramadan ad drama + look out for a landmark UN climate report"},"content":{"rendered":"

Good morning, ladies and gentlemen, and happy Monday. <\/strong>News flow has slowed down a little bit today, but there\u2019s still plenty of meaty corporate stories to keep us all busy.<\/p>\n

The traditional Ramadan killing of ads has begun<\/strong>, with the nation\u2019s media regulator<\/a> ordering Dice\u2019s underwear ad off the air after reportedly receiving complaints from the Doctor\u2019s Syndicate. You can catch the offending ad here, at least for the time being (watch, runtime: 1:10)<\/a>. Ah, for the days of dandoo\u2026<\/a><\/p>\n

Okay, but was it funny? <\/strong>We\u2019re split here. Some of us found it hilarious. Others, meh.<\/p>\n

ALSO: Is anyone else finding the ratio of \u201ccontent\u201d to advertisement more skewed in <\/strong>favour of ads than usual <\/strong>this year? The resident 14-year-old was growling last night that it felt as if there were 15 minutes of ads for every four minutes of content on Ramez\u2019s latest hidden camera \/ prank \u201cshow.\u201d (Yes, it is a failing of parenting on our part that she looks forward to Ramez each year.)<\/p>\n

SO, WHEN DO WE EAT?<\/strong> You\u2019ll be breaking your fast at 6:15pm CLT this evening in the capital city, and fajr prayers are at 4:12am.<\/p>\n

H\/t to reader Hisham H<\/strong>, who wrote in to let us know that (a) the chocolate with orange peel is the best stuffed date (following up on our shout-out to M\u014dko<\/a>) (b) and pointed out that the maghrib and fajr prayer times we included yesterday were arguably a few minutes off. Our go to is Islamic Finder<\/a>, but the Egyptian General Survey Authority\u2019s official calendar<\/a> lets you check exact times based on your city and governorate, and matches up with that used by Dar Al Iftaa<\/a>. We\u2019ll be using their official Cairo schedule for the remainder of the holy month.<\/p>\n

DATA POINT of the morning- <\/strong>Investors have poured some EGP 401 bn into 18% CDs launched by Banque Misr and the National Bank of Egypt (NBE) as of Sunday, Masrawy<\/a> reports, citing sources at the two lenders. The CDs were launched<\/a> two weeks ago, following the central bank\u2019s 100-bps interest rate hike.<\/p>\n

KEEP YOUR EYE ON THIS- The UN\u2019s latest climate report could be published today \u2014 if the politicians can <\/strong>get out of the way. <\/strong>The UN\u2019s Intergovernmental Panel on Climate Change<\/a> should be releasing the latest report in its current assessment cycle<\/a> today, which will give concrete recommendations on how to limit global warming to 1.5 degrees this century ahead of COP27 in Sharm El Sheikh. But while the science isn\u2019t up for debate, talks between researchers and governments over the wording of a summary of the findings have reached a gridlock, the Associated Press<\/a> reports, citing anonymous observers.<\/p>\n

What\u2019s the snag? <\/strong>Major coal user<\/a> India is reportedly among key players pushing for recognition that wealthy countries (who have contributed the most to historical emissions) should bear the brunt of carbon cuts and provide financing to ease the developing world\u2019s green transition. If that sounds familiar, it\u2019s because our government is pushing some of the same priorities<\/a> for the African continent ahead of the November climate summit.<\/p>\n

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PSA- The Financial Regulatory Authority (FRA) is <\/strong>calling (pdf)<\/a><\/strong> on property and <\/strong>liability ins. holders <\/strong>to review the value of their properties<\/strong> and update ins. providers<\/strong>. Some ins. plans include a proportionality clause that comes into effect when there is a change in the asset\u2019s market value \u2014 following, for example, last month\u2019s currency devaluation<\/a> \u2014 meaning that if your property has become worth more than your policy, the full value may no longer be ins.d and you could take a hit on the loss that isn\u2019t covered.<\/p>\n

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

Companies have a little over two weeks to file their first quarterly ESG compliance <\/strong>report: <\/strong>Listed firms and non-bank financial services companies need to submit their first quarterly ESG report by 20 April, the Financial Regulatory Authority (FRA) announced<\/a> last week.<\/p>\n

Didn\u2019t we say yesterday that the deadline was 10 April?<\/strong> Yes, we did, per a circular (pdf)<\/a> published by the FRA last month. The regulator has since amended the deadline, handing firms an extra 10 days to submit.<\/p>\n

What you need to know:<\/strong> The regulator is making it mandatory for corporates to publicly disclose their performance on key environmental, social and governance metrics each year when they submit their annual financial statements, starting 2023. Reach out to Moustafa Taalab at InkankIR, our parent company, if you need some help.<\/a><\/strong><\/p>\n

Other upcoming dates you want to know about:<\/strong><\/p>\n