{"id":556438,"date":"2021-10-26T04:12:11","date_gmt":"2021-10-26T04:12:11","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2021\/10\/26\/this-morning-us-to-accept-sinopharm-jabs-prince-charles-to-visit-egypt\/"},"modified":"2021-10-26T04:12:11","modified_gmt":"2021-10-26T04:12:11","slug":"this-morning-us-to-accept-sinopharm-jabs-prince-charles-to-visit-egypt","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2021\/10\/26\/this-morning-us-to-accept-sinopharm-jabs-prince-charles-to-visit-egypt\/","title":{"rendered":"THIS MORNING: US to accept Sinopharm jabs, Prince Charles to visit Egypt"},"content":{"rendered":"

Good morning, friends.<\/strong> We kick off hump day with a Good News Edition of Enterprise, starting with word that President Abdel Fattah El Sisi will not seek to extend the state of emergency that has been in place since 2017. We have full coverage in the news well, below.<\/p>\n

<\/a> ALSO FROM THE DEPT. OF VERY GOOD NEWS- Your Sinopharm jab will soon be able to <\/strong>get <\/strong>you in the US: <\/strong>The United States will allow all international travellers from any destination who have received any of the seven WHO recognized vaccines to enter the country starting 8 November, Reuters<\/a> reports. A presidential order signed by Joe Biden yesterday said the country would \u201cadopt an air travel policy that relies primarily on vaccination.\u201d<\/p>\n

Canada, everyone else in the European Union: <\/strong>Wouldn\u2019t you nice people like to follow suit?<\/p>\n

You\u2019ll even be able to travel if you\u2019re unvaccinated: <\/strong>Travellers from countries in which less than 10% of the population has been vaccinated \u2014 including Egypt \u2014 are exempt from the new rules, but must test negative for covid-19 one day before flying. Children under 18 are also exempt.<\/p>\n

<\/a> Prince in Egypt: <\/strong>British royal family members Prince Charles and the Duchess of Cornwall will visit Cairo on November 18-19, according to a statement<\/a>. The pair will be formally welcomed by President Abdel Fattah El Sisi in Cairo before traveling to Alexandria on the second day of their visit. The Queen\u2019s eldest son will focus on environmental issues during the trip, including Egypt\u2019s nomination<\/a> to host the UN\u2019s COP27 climate conference next year, the statement read. Before arriving in Cairo, the two will spend three days in Jordan to mark the country\u2019s centenary.<\/p>\n

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SIGN OF THE TIMES #1- Egypt has a walk-on role in the Facebook Files<\/strong>, with the Associated Press reporting that two years ago, Apple threatened to ban Facebook from its app store<\/a> \u201cover concerns about the platform being used as a tool to trade and sell maids in the Mideast.\u201d While most of the \u201cmaterial\u201d on the platform originated in Saudi Arabia, \u201cabout a quarter\u201d of it came from Egypt, the newswire reports.<\/p>\n

Speaking of Apple: The first reviews of the new 14\u201d and 16\u201d MacBook Pros <\/strong>powered by the M1 Max and M1 Pro chips are starting to trickle out. Verge boss Nilay Patel is clearly impressed in this first impressions review (read<\/a> or watch, runtime: 6:05<\/a>) and Jon Gruber over a Daring Fireball serves up enthusiasm and nuance in equal measure<\/a>. Both are must-reads for our fellow iSheep and normals alike. All we can say is: Thank God for ports.<\/p>\n

PSA- Are you freaked out over the prospect of hyperinflation? <\/strong>Brewing energy and supply chain \/ logistics crises are driving up prices, and the chattering class is losing its mind. What if the risk is deflation, not inflation? Read on:<\/p>\n

THE SMARTEST THING YOU\u2019LL READ TODAY is over on Cathie Wood\u2019s Twitter, where <\/strong>she trenchantly suggests Jack Dorsey\u2019s crystal ball is busted. <\/strong>Wood is the carefully followed CEO and CIO of asset manager Ark Invest. Responding to Twitter and Square CEO Jack Dorsey\u2019s claim that \u201chyperinflation is going to to change everything. It\u2019s happening<\/a>,\u201d Wood retorts that our future is much more likely to be about deflation<\/strong>. She points to both trends both secular (technologically enabled innovation thanks to things like AI and What wood calls \u201ccreative destruction\u201d) and cyclical (businesses have over-ordered \u2014 and rise of ESG is pushing the world away from oil, no matter what). Do yourself a favour and read the thread in full.<\/a><\/strong> It\u2019s time well-spent.<\/p>\n

<\/a> SIGN <\/strong>OF THE TIMES #2- Tesla has joined the USD 1 tn club<\/strong>, after its market value surged yesterday, making it the second-fastest company after Facebook to reach the milestone, Bloomberg<\/a> reports. The electric car maker\u2019s shares surged following news that Tesla\u2019s Model 3 was the top selling car in Europe last month. Car rental giant Hertz Global has also placed a record order of 100k vehicles, amid the global surge in demand for electric vehicles. Tesla joins Apple, Microsoft, Alphabet, and Amazon \u2014 all of which have a market cap of over USD 1 tn.<\/p>\n

Elon is now personally worth more than Exxon Mobil<\/strong>, according to Bloomberg\u2019s bn\u2019aires index<\/a>.<\/p>\n

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THE BIG STORY ABROAD- <\/strong><\/p>\n

At least seven protesters have been killed and <\/strong>140 injured in clashes between civilians and the military following the latter\u2019s takeover of the country. <\/strong>Sudan\u2019s military forces arrested key civilian ministers and members of the transitional sovereign council in the early hours of Monday morning, before announcing a state of emergency and the dissolution of both the council and the government in what was seen as a major blow to the country\u2019s political transition<\/a>. The story is getting wide attention globally: Reuters<\/a> | Associated Press<\/a> | Bloomberg<\/a> | Financial Times<\/a>.<\/p>\n

The Madbouly government <\/strong>announced<\/a><\/strong> the creation of a special operations room<\/strong> and dedicated email to receive inquiries from Egyptians in Sudan, while EgyptAir cancelled<\/a> its afternoon flight to Khartoum yesterday. Foreign Minister Sameh Shoukry yesterday underscored<\/a> the need to maintain stability in Sudan in a phone call with US Special Envoy for the Horn of Africa Jeffrey Feltman.<\/p>\n

CLOSER TO HOME- Turkish President Recep Tayyip Erdogan appeared to walk back his <\/strong>order to expel 10 Western ambassadors<\/strong>, saying in a televised statement, \u201cour intention was never to cause a crisis,\u201d according to Bloomberg<\/a>. Erdogan made the move after the expulsion demand prompted the TRY to tumble<\/a> and almost cost the country key partnerships with the west.<\/p>\n

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

The European Investment Bank (EIB) will hold <\/strong>a seminar on financing water<\/a><\/strong>infrastructure (pdf)<\/a><\/strong> today at the Nile Ritz Carlton.<\/p>\n

A webinar on sustainable transport <\/strong>featuring keynote speeches by EU ambassador to Egypt Christian Berger and Public Enterprises Minister Hisham Tawfik will take place this morning at 10am. Register here<\/a>.<\/p>\n

HAPPENING THIS WEEK-<\/strong><\/p>\n

It\u2019s interest rate week:<\/strong> The Central Bank of Egypt will meet this Thursday to discuss interest rates. All 12 analysts polled by Enterprise<\/a> see the central bank leaving rates on hold for another meeting, citing the need to maintain portfolio inflows and uncertainty over inflation.<\/p>\n

And then it\u2019s the Fed\u2019s turn:<\/strong> The US Federal Reserve will meet to review interest rates on 2-3 November (Tuesday-Wednesday next week). The Fed is widely expected to keep interest rates steady in order to start tapering its asset purchases this month, though inflationary pressures are causing unease among some officials over the timeline, the Wall Street Journal<\/a> reports. The longer the US can put off a rate hike, the better, as lower US interest rates relieve pressure on EM treasuries and maintain the appeal of our carry trade<\/strong>. One analyst we polled suggests that investors in Egyptian debt have already priced in a Fed rate hike.<\/p>\n

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

We\u2019re looking forward to reading <\/strong>Justo a Tiempo<\/a><\/strong>, a memoir penned by our friend <\/strong>\u200b\u200bMaria Laura Sanchez Puerta (<\/strong>Morning Routine<\/a><\/strong>) about her family\u2019s battle against cancer.<\/strong> Sanchez Puerta, who is the World Bank\u2019s human development program leader in Egypt, is launching her memoir on Sunday, 7 November at Osana in Maadi. Argentinian Ambassador Eduardo Varela and Cairo University Professor Rasha Abboudy will also be speaking at the event.<\/p>\n

SPOOKY \u2014 it\u2019s almost the end of October.<\/strong> Here are dates for some key news triggers next month:<\/p>\n