{"id":558301,"date":"2021-08-04T04:22:37","date_gmt":"2021-08-04T04:22:37","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2021\/08\/04\/this-morning-youll-need-a-jab-to-go-see-microsoft-google-or-facebook-abroad-egypt-is-in-the-race-for-two-bronze-medals-today\/"},"modified":"2021-08-04T04:22:37","modified_gmt":"2021-08-04T04:22:37","slug":"this-morning-youll-need-a-jab-to-go-see-microsoft-google-or-facebook-abroad-egypt-is-in-the-race-for-two-bronze-medals-today","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2021\/08\/04\/this-morning-youll-need-a-jab-to-go-see-microsoft-google-or-facebook-abroad-egypt-is-in-the-race-for-two-bronze-medals-today\/","title":{"rendered":"THIS MORNING: You\u2019ll need a jab to go see Microsoft, Google or Facebook abroad + Egypt is in the race for two bronze medals today"},"content":{"rendered":"

Good morning, ladies and gentlemen. The heat is rising again today<\/strong>, both literally and metaphorically.<\/p>\n

Literally: <\/strong>Expect the mercury to hit at least 43\u00b0C in the capital as a heat wave rolls over the country. Our favourite weather app shows the mercury touching 44\u00b0C tomorrow \u2014 and temperatures largely above 40\u00b0C through mid-month.<\/p>\n

Metaphorically: <\/strong>We have two hot stories for you this morning. President Abdel Fattah El Sisi is pushing forward with a plan to raise the price of subsidized bread<\/strong> for the first time in a generation and Orascom Development Egypt is dealing with an Environment Ministry claim that it has somehow damaged the environment in El Gouna<\/strong>, its flagship destination. We have more on both stories in this morning\u2019s Speed Round, below.<\/p>\n

THE BIG STORY ABROAD is still (you guessed it) \u2026 covid-19. Customers and staff will <\/strong>need to show proof of vaccination <\/strong>to get into restaurants, gyms, entertainment venues and other indoor sites in New York City, Reuters<\/a> and the Financial Times<\/a> report. The requirement comes into effect next month. Bloomberg<\/a>, meanwhile, quotes a US medical group as saying that the Delta variant means countries won\u2019t see true \u201cherd immunity\u201d until at least 80% of the population is vaccinated or has had the disease.<\/p>\n

More and more top global companies will require their staff to be vaccinated when they <\/strong>go back to working from the office in September. <\/strong>Microsoft is the latest to make it official<\/a>, saying employees and anybody else coming into its offices will need to show proof they\u2019re jabbed. Google and Facebook<\/a> made similar announcements last week, following in the footsteps of hospitals<\/a> and restaurant groups<\/a>.<\/p>\n

US politics watchers are also following the case of New York Governor Andrew Cuomo. <\/strong>President Joe Biden said Cuomo \u201cshould resign\u201d as investigators said they had \u201ccorroborated the claims of 11 women who accused Mr. Cuomo of inappropriate behavior, from suggestive comments to instances of groping.\u201d The story leads the Wall Street Journal<\/a> and New York Times<\/a>.<\/p>\n

MORNING MUST READS- <\/strong>For you finance nerds this morning, take your pick between Fortune\u2019s interview with Nasdaq CEO Adena Friedman<\/a><\/strong> covering SPACs, meme stocks and a \u201cnew generation\u201d of investors and the WSJ\u2019s sit-down with SEC chief Gary Genslder, who says the \u201ccrypto Wild West\u201d demands stronger investor protection<\/a><\/strong> \u2014 foreshadowing stronger regulation in the US.<\/p>\n

\n

HAPPENING TODAY- <\/strong>It\u2019s the final day for the Africa Food Manufacturing<\/a> exhibition at the Egypt International Exhibition Center.<\/p>\n

HAPPENING TOMORROW- <\/strong>The Central Bank of Egypt will meet this week to review interest rates. All 12 analysts we surveyed expect the central bank to leave rates on hold<\/a>, with inflation and rising global commodity prices weighing heavily on their decision.<\/p>\n

A bit further out: <\/strong>We can expect foreign reserve figures for July next week and inflation data out on Tuesday.<\/p>\n

CIRCLE YOUR CALENDAR-<\/strong> Euromoney Conferences is organizing a two-day virtual <\/strong>conference from 7-8 <\/strong>September to <\/strong>talk sustainable<\/strong> finance and investment<\/strong>. Titled \u201cGlobalCapital Sustainable and Responsible Capital Markets Forum,\u201d the online event will feature on day one Vice Minister of Finance Minister Ahmed Kouchouk<\/a>, who will participate in a live panel discussion on green sovereign bonds. You can register for the webinar here<\/a>.<\/p>\n

REMINDER- Next week will be a short workweek. <\/strong>Islamic New Year here in Egypt looks set to fall on Monday of next week (much of the rest of the Arab world will celebrate it on Tuesday). The Madbouly government is yet to confirm whether we will observe the holiday on Thursday, 12 August (which we think is most likely) or on Sunday, 8 August. No news by tomorrow afternoon means the holiday will be observed next Thursday.<\/p>\n

\n

** CATCH UP QUICK<\/strong> with the top stories from yesterday\u2019s edition of EnterprisePM:<\/strong><\/p>\n