{"id":568661,"date":"2020-01-30T04:22:53","date_gmt":"2020-01-30T04:22:53","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2020\/01\/30\/what-were-tracking-on-30-january-2020\/"},"modified":"2020-01-30T04:22:53","modified_gmt":"2020-01-30T04:22:53","slug":"what-were-tracking-on-30-january-2020","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2020\/01\/30\/what-were-tracking-on-30-january-2020\/","title":{"rendered":"What we\u2019re tracking on 30 January 2020"},"content":{"rendered":"

It\u2019s a huge morning for the business community with the largest-ever M&A in the country unfolding <\/strong>after Vodafone Egypt announced it was selling its domestic operation to Saudi Arabia\u2019s STC in a transaction worth just under USD 2.4 bn. It\u2019s a vote of confidence in Egypt by a foreign investor with big ambitions to become a regional player \u2014 and an endorsement of the digital dreams of thousands of startups and large corporations alike. We sat down with Vodafone Egypt CEO Alexandre Froment-Curtil<\/strong>, who\u2019s staying on to lead the business, to discuss how it unfolded and what it means.<\/p>\n

The world is still digesting the Trump administration\u2019s plan to solve the world\u2019s most <\/strong>intractable conflict.<\/strong> Arab states seem to be leaning towards breaking with their traditional support for the Palestinian Authority, offering words of appreciation<\/a> to the US and urging Israel and Palestine to consider the offer on the table. For his part, President Abdel Fattah El Sisi spoke on the phone yesterday with German Chancellor Angela Merkel<\/a> and European Council President Charles Michel<\/a> \u2014 both of whose officials offered guarded responses<\/a> to the proposals. More on this in Last Night\u2019s Talk Shows below.<\/p>\n

Two opposing takes:<\/strong> Time\u2019s editor-at-large Ian Bremmer<\/a> heaps praise on the Trump plan for recognizing the on-the-ground realities and finally offering a road map to end the decades-old conflict. On the flipside, Middle East Institute senior fellow Khaled El Gindy calls it<\/a> a \u201cpiece of political malware\u201d with ambitions to establish permanent military rule over the Palestinian territories.<\/p>\n

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Fed leaves rates on hold:<\/strong> The US Federal Reserve yesterday maintained its benchmark interest rate at 1.5-1.75%, saying in a statement<\/a> that the current rate is \u201cappropriate to support sustained expansion of economic activity\u201d and inflation returning to its 2% target rate.<\/p>\n

The yield on US 10-year treasuries fell to its lowest level since October<\/strong> in response to the Fed meeting, Bloomberg reports<\/a>.<\/p>\n

US stocks ended the day largely flat on a day of mixed earnings releases and continued concern over the coronavirus.<\/strong> The S&P 500 closed 0.09% in the red, the Dow Jones rose slightly by 0.04% and the Nasdaq finished 0.06% in the green.<\/p>\n

\"enterprise\"<\/a><\/p>\n

Coronavirus touches down in the Middle East:<\/strong> A Chinese family of four living in the UAE have become the first people in the Middle East to contract the coronavirus, state news agency WAM reported<\/a> yesterday. The Ministry of Health and Prevention issued a statement breaking the news, adding that the family\u2019s health is stable and the situation under control.<\/p>\n

Airliners have begun to suspend flights to China:<\/strong> British Airways and Lufthansa yesterday halted flights to the Chinese mainland as fears of a global contagion grew, the Financial Times says<\/a>.<\/p>\n

There are now more confirmed cases of the virus in China than there were during the SARS outbreak in 2003.<\/strong> Another 1,500 cases were added to the tally between Tuesday and Wednesday alone, bringing the total number of confirmed cases in China to 6,061<\/a>.<\/p>\n

Want to see a global pandemic play out in real-time?<\/strong> Johns Hopkins University has developed an interactive map<\/a> that updates as cases are confirmed around the world.<\/p>\n

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In business miscellany:<\/p>\n