{"id":557417,"date":"2021-09-19T04:00:06","date_gmt":"2021-09-19T04:00:06","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2021\/09\/19\/this-morning-imf-chief-in-hot-water-uncertain-corporate-earnings-are-ringing-alarm-bells-on-wall-street\/"},"modified":"2021-09-19T04:00:06","modified_gmt":"2021-09-19T04:00:06","slug":"this-morning-imf-chief-in-hot-water-uncertain-corporate-earnings-are-ringing-alarm-bells-on-wall-street","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2021\/09\/19\/this-morning-imf-chief-in-hot-water-uncertain-corporate-earnings-are-ringing-alarm-bells-on-wall-street\/","title":{"rendered":"THIS MORNING: IMF chief in hot water? Uncertain corporate earnings are ringing alarm bells on Wall Street."},"content":{"rendered":"

Good morning, wonderful people<\/strong>, and welcome to the last week of summer in the northern hemisphere: This coming Wednesday is the first day of fall. We\u2019re apparently going to be celebrating the end of summer with warm weather today through Wednesday, so don\u2019t put away the sunscreen quite yet.<\/p>\n

It\u2019s an exceptionally busy morning on the news front<\/strong> between e-Finance dropping the intention to float overnight, the CBE leaving rates on hold for a seventh consecutive meeting, and Egypt (kinda-sorta) getting off the UK\u2019s red list. We have all of this and more in this morning\u2019s Speed Round \u2014 and you\u2019ll want to check out Covid Watch and Last NIght\u2019s Talk Shows, too, for the latest on this fourth wave of the pandemic.<\/p>\n

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

EFG Hermes\u2019 fourth Virtual Investor Conference continues today<\/strong>, running through to 21 September with the theme of \u201cAfter Reflation \u2014 FEMs in 2022.\u201d<\/p>\n

Do you, like us, miss the days when we used to do this type of thing in person in London <\/strong>or Dubai?<\/strong> The first bank that thinks it can pull off an in-person conference will have corporates beating down the doors asking for slots. The bigger question is when fund and portfolio managers will be unshackled and allowed to travel (or receive travelers in their offices) once again. Meanwhile\u2026<\/p>\n

The <\/strong>UN General Assembly<\/a><\/strong> is ongoing in New York until 30 September<\/strong>. The general debate will take place from 20-28 September. Leaders from at least 83 countries are expected to attend in person<\/a> \u2014 in contrast to last year, when the meeting was almost 100% virtual. There\u2019s no word yet on whether President Abdel Fattah El Sisi will attend in person or virtually.<\/p>\n

IMF + EBRD webinar:<\/strong><\/sup><\/sup> Public Enterprises Minister Hisham Tawfik will speak during a webinar hosted by the IMF and the European Bank for Reconstruction and Development (EBRD) on Wednesday, 22 September at 3pm CLT. The gathering is running under title of \u201cState-owned enterprises in the Middle East, North Africa and Central Asia,\u201d with Tawfik set to speak on the role of the state in the economy alongside five other panelists including the IMF\u2019s Middle East and Central Asia head Jihad Azour and the EBRD\u2019s head of external relations Alan Rousso. Register for the event here<\/a> and check out the agenda here<\/a>.<\/p>\n

The <\/strong>Cityscape real estate investment conference<\/a><\/strong> gets underway this week<\/strong> at the Egypt International Exhibition Center. The event runs from Wednesday, 22 September through Saturday.<\/p>\n

The Federal Reserve meets to review interest rates on 21-22 September.<\/strong> Pressure has<\/a>been building on the Fed<\/a> to take a more hawkish stance to combat inflation by bringing its stimulus programme to a (premature?) end and start raising interest rates earlier than planned. But a slight slowdown in US consumer price inflation<\/a> last month could give the Fed a breather and relieve pressure for a policy change.<\/p>\n

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

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Gohar, Farag champions of CIB Egyptian Squash Open:<\/strong> Two Egyptians were crowned<\/a>champions of the 2021 CIB Egyptian Open<\/a> on Friday night in two finals played in front of the Giza Pyramids. World no.2 Nouran Gohar overcame first seed and fellow Egyptian Nour El Sherbini 3-2. The men\u2019s final was also taken to five sets, with world no.1 Ali Farag beating Mohamed El Shorbagy.<\/p>\n

** IN CASE YOU MISSED IT \u2014 <\/strong>highlights from Thursday\u2019s edition of EnterprisePM:<\/p>\n