{"id":557492,"date":"2021-09-21T04:00:14","date_gmt":"2021-09-21T04:00:14","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2021\/09\/21\/this-morning-evergrande-crisis-sparks-global-equity-sell-off-fed-meeting-starts-today-el-sisi-to-address-un-general-assembly-today-us-to-allow-some-vaccinated-travellers-in-from-november-but-not\/"},"modified":"2021-09-21T04:00:14","modified_gmt":"2021-09-21T04:00:14","slug":"this-morning-evergrande-crisis-sparks-global-equity-sell-off-fed-meeting-starts-today-el-sisi-to-address-un-general-assembly-today-us-to-allow-some-vaccinated-travellers-in-from-november-but-not","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2021\/09\/21\/this-morning-evergrande-crisis-sparks-global-equity-sell-off-fed-meeting-starts-today-el-sisi-to-address-un-general-assembly-today-us-to-allow-some-vaccinated-travellers-in-from-november-but-not\/","title":{"rendered":"THIS MORNING: Evergrande crisis sparks global equity sell-off; Fed meeting starts today; El Sisi to address UN General Assembly today; US to allow some vaccinated travellers in from November (but not Egyptians)."},"content":{"rendered":"

Good morning, wonderful people, and welcome to a very busy news morning here at <\/strong>home <\/strong>\u2014 and abroad. So let\u2019s jump right in:<\/p>\n

HAPPENING NOW- Votes are being counted in Canada\u2019s federal election<\/strong>, with broadcaster CBC now calling the result for Justin Trudeau\u2019s governing Liberals, who appear to have beaten back a heavy challenge from the Conservatives. The questions right now (again, it\u2019s early): Will Trudeau get another minority government (likely) and how much of the vote will the nutters from the People\u2019s Party pick up.<\/p>\n

ALSO- The US will finally allow some vaccinated travelers to enter the country in <\/strong>November.<\/strong> The Biden administration will re-open US borders in early November to vaccinated non-US citizens from some countries, White House coronavirus response coordinator Jeff Zients told reporters<\/a> on Monday.<\/p>\n

It doesn\u2019t appear that Egypt is on the list though:<\/strong> Vaccinated travelers from European countries in the Schengen zone, as well as the UK, Ireland, China, India, South Africa, Iran and Brazil will be able to visit the US, reversing pandemic-related restrictions first imposed at the start of last year.<\/p>\n

THE BIG STORY OF THE DAY- Will the brewing Evergrande crisis drag down stocks for a <\/strong>second day?<\/strong> US shares had their worst day in four months yesterday after a sell-off in Asia appeared to spook investors. We can all blame property developer China Evergrande, billed as the \u201cworld\u2019s most indebted company\u201d for the headache. We have chapter and verse in this morning\u2019s Planet Finance, below. <\/strong><\/p>\n

Why are we so concerned about Evergrande? <\/strong>Because the bears \u2014 the folks expecting the unprecedented bull run for global equities to come to an end \u2014 have been salivating at the thought of something like this for at least a couple of years now. The words \u201ccontagion\u201d and \u201cmeltdown\u201d and \u201ccrisis\u201d are all being used by a generation of market watchers who haven\u2019t had a crisis about which to fulminate since 2007-2008.<\/p>\n

Better still: Pundits think the market\u2019s Evergrande freakout makes the US Federal <\/strong>Reserve\u2019s policy meeting <\/strong>today and tomorrow all the more important.<\/p>\n

PSA #1- iOS 15 and iPadOS 15 were <\/strong>both out yesterday<\/a><\/strong> and there are very few bug reports circulating this morning, suggesting you can probably start thinking about upgrading. The developer betas of iPadOS 15 we\u2019ve been running on our work iPad have been rock solid for the past month. Tentpole features for iPadOS include widgets on your homescreen, a revamped Notes app with hashtags and system-wide quick notes, and a more intuitive approach to multitasking. You can read all about the OS for your phone and iPad in Federico Viticci\u2019s annual (epic) review here.<\/a><\/p>\n

How do I upgrade? <\/strong>Tap Settings and then General > Software Update. Is the option not at the top of your screen? Look down and tap \u201cAlso available.\u201d<\/p>\n

PSA #2- It\u2019s going to be hot today at 39\u00b0C<\/strong>, but the mercury will then ease to a much more seasonal 30\u00b0C by Friday and stay at 30-33\u00b0C through all of next week. Fall weather is coming, friends.<\/p>\n

SIGN OF THE TIMES- Everybody thinks everybody else is WFH \u2014 but they\u2019re not.<\/strong> While most people think most other<\/em> people are working from home, the numbers (in the US of A) show a starkly different picture. Some 73% of Americans who worked remotely during the pandemic figured at least half of the country had done the same. In fact, only 35% had \u2014 at the peak. Respondents to a poll by the Atlantic<\/a> thought at least 40% of Americans were working from home last month. In fact, less than 14% of folks here WFH.<\/p>\n

\n
\n
\n
\n

\n Get Enterprise<\/b> daily
\n <\/h4>\n<\/p><\/div>\n

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

Subscribe here<\/a>\n <\/div>\n<\/p><\/div>\n<\/div>\n

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

President Abdel Fattah El Sisi will address the UN General Assembly later today<\/strong>, according to a sched<\/a>ule<\/a> published yesterday.<\/p>\n

El Sisi officially proposed that Egypt hold next year\u2019s UN COP summit<\/strong> during climate talks yesterday, suggesting that it would represent a \u201cfundamental turning point\u201d in global efforts to tackle climate change. We have more on yesterday\u2019s climate talks in Last Night\u2019s Talk Shows, below.<\/p>\n

Given that he attended yesterday\u2019s climate meeting via video link, we think it\u2019s pretty <\/strong>safe to say that the president will not be giving his address in person today.<\/strong> At least 83 world leaders are expected<\/a> to attend in person, despite being encouraged by the UN to send in pre-recorded videos of their speeches instead.<\/p>\n

EFG Hermes\u2019 fourth Virtual Investor Conference wraps up today<\/strong>.<\/p>\n

The Egyptian Ins. Federation\u2019s <\/strong>Rendezvous conference<\/a><\/strong> continues today in <\/strong>Sharm El <\/strong>Sheikh.<\/strong> The event wraps tomorrow.<\/p>\n

TOMORROW-<\/strong><\/p>\n

IMF + EBRD webinar:<\/strong> 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. 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

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

\n

*** IN CASE YOU MISSED IT-<\/strong><\/p>\n