{"id":572805,"date":"2020-07-09T03:41:02","date_gmt":"2020-07-09T03:41:02","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2020\/07\/09\/what-were-tracking-on-9-july-2020\/"},"modified":"2020-07-09T03:41:02","modified_gmt":"2020-07-09T03:41:02","slug":"what-were-tracking-on-9-july-2020","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2020\/07\/09\/what-were-tracking-on-9-july-2020\/","title":{"rendered":"What we\u2019re tracking on 9 July 2020"},"content":{"rendered":"

A word of friendly advice? Don\u2019t read our interview this morning with International <\/strong>Cooperation Minister Rania Al-Mashat. <\/strong>Listen to it instead. Trust us on this. You\u2019ll get the gist from this morning\u2019s story, but if you really want to get to know the woman leading Egypt\u2019s program of economic diplomacy, you need to hear her tell the story in her own words, in her own voice. She\u2019s smart, engaging and \u2014 as she\u2019s proven at the central bank and as tourism minister \u2014 just the person you want in your corner in a crisis.<\/p>\n

Listening is really easy: <\/strong>Just tap or click here<\/a><\/strong>(runtime: 41:05) to listen <\/strong>on <\/strong>our website.<\/strong> No special software required. Or if you\u2019re a podcast nerd, head over to Apple Podcasts<\/a> or listen to us on Omny<\/a>. We\u2019re also available on Spotify<\/a>, but only for non-MENA accounts, and will be on Google Podcasts soon.<\/p>\n

Al-Mashat spoke with us for the first episode of Enterprise After Hours<\/strong>, our new podcast featuring business leaders, policymakers and cultural icons. Our aim is to have deeper, longer conversations on a wider range of issues than how to build a great business in Egypt \u2014 the subject of our entrepreneur-focused series<\/a>Making It<\/a>. Each episode of Enterprise After Hours will drop in its own feed in your podcatcher of choice, accompanied by a written excerpt in the Morning Edition you\u2019re reading now.<\/p>\n

Podcasts are the perfect way to kill your morning or afternoon commute. <\/strong>Or if you, like us, aren\u2019t doing that while on WFH, they\u2019re the perfect breakfast \/ morning routine companion and the ideal way to feed your brain while you do the dishes after dinner.<\/p>\n

Want to suggest a guest for Enterprise After Hours or Making It? <\/strong>Email us at editorial@enterprise.press \u2014 we would really love to hear from you. We\u2019re already in production on season three of Making It, so email us today.<\/p>\n

\n

It\u2019s officially FY2020-2021 for state coffers:<\/strong> President Abdel Fattah El Sisi approved yesterday the state budget for the new fiscal year, according to the Official Gazette. You can catch a refresher on highlights of the budget here<\/a> and here<\/a>. The Madbouly government said previously that it will review the budget when 1Q2020-2021 wraps on 30 September to tweak key assumptions as it gets more clarity on the road ahead.<\/p>\n

Meanwhile: It\u2019s looking more and more like schools are going to be embracing \u201cblended <\/strong>learning\u201d come fall<\/strong>, with students splitting their time each week between learning at home and learning on campus. That\u2019s the word we\u2019re getting from a number of top private schools in Egypt, and it\u2019s what New York \u2014 the largest school district in the US \u2014 said yesterday it will be doing<\/a>.<\/p>\n

That\u2019s going to put plenty of pressure on businesses to be flexible with working parents <\/strong>come fall \u2014 which, incidentally, is just weeks away. The notion that those of privileged to have jobs that can be done at home have weeks or months of WFH left ahead of us is the subject an on-point CNBC column<\/a> by Wendy Pfeiffer, CIO of Google-owned cloud computing platform Nutanix<\/a>.<\/p>\n

\n

COVID-19 IN EGYPT-<\/strong><\/p>\n

The Health Ministry <\/strong>confirmed<\/a><\/strong> 75 new deaths from covid-19 yesterday<\/strong>, bringing the country\u2019s total death toll to 3,564. Egypt has now disclosed a total of 78,304 confirmed cases of covid-19, after the ministry reported 1,025 new infections yesterday<\/strong>. We now have a total of 22,241 cases who have fully recovered.<\/p>\n

Around <\/strong>1k tourism companies<\/a><\/strong> have obtained health and safety certificates to resume <\/strong>operations, <\/strong>600 of which are in Cairo and Giza governorates.<\/p>\n

EgyptAir is offering a <\/strong>25% discount on flights from Cairo to Dubai<\/a><\/strong> booked before 20 July for travel until 20 September. A 20% discount is also available for flights to Abu Dhabi and Sharjah booked before 15 July for travel until 31 August.<\/p>\n

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

ON THE GLOBAL FRONT-<\/strong><\/p>\n

The planet now has 12 mn confirmed cases of the coronavirus,<\/strong> according to the Johns Hopkins University\u2019s corona tracker.<\/p>\n

The US has won the inglorious award of being the first country to surpass 3 mn cases, <\/strong>after California, Texas and Arizona all set new single-day records yesterday.<\/p>\n

Dubai is expecting an \u201caggressive\u201d rebound in tourism by the end of the year<\/strong> after the emirate opened its borders to foreign visitors yesterday, Helal Al Marri, director general of Dubai\u2019s Department of Tourism and Commerce Marketing, told Bloomberg (watch, runtime: 07:45<\/a>).<\/p>\n

GLOBAL MACRO-<\/strong><\/p>\n

European banks look to go green:<\/strong> Both the European Central Bank and the European Bank for Reconstruction and Development have outlined plans to increase investment in green bonds as they look to step up involvement in the low-carbon economy. In an interview with the FT<\/a>, ECB boss Christine Lagarde said that the bank could deploy some of its EUR 2.8 tn emergency asset-purchase program to buy green bonds, while the EBRD announced plans<\/a> to commit half of its annual investments to green projects by 2025.<\/p>\n

That\u2019s good news for: CIB<\/strong>, which we recently reported is planning Egypt\u2019s first-ever green<\/a>bond issue<\/a>.<\/p>\n

Party time for goldbugs:<\/strong> Gold prices surged past USD 1.8k \/ oz for the first time since 2011 yesterday, the Financial Times<\/a> reports. Investors shovelled a record USD 40 bn of cash into gold-backed funds during the first half of the year as the pandemic caused chaos in global financial markets.<\/p>\n

Naguib, the inveterate goldbug, expects Au to hit USD 2k: <\/strong>Gold futures could climb to USD 2k an ounce if investors can\u2019t shake their anxiety about the direction of the global economy, celebrity b\u2019naire and La Mancha Mining Chairman Naguib Sawiris told CNBC Arabia<\/a> yesterday. Sawiris recently said he was interested in the government\u2019s gold exploration tender in the Eastern Desert and getting close to wrapping up talks<\/a> to acquire a 51% stake in state-owned Shalateen Mining.<\/p>\n

AND THE REST OF THE WORLD- <\/strong><\/p>\n

There are now eight names competing to be the next boss of the World Trade <\/strong>Organization<\/strong> after Kenya, the UK and Saudi Arabia put forward candidates at the last minute yesterday. Kenya\u2019s Amina Mohamed \u2014 former chair of the WTO\u2019s general council \u2014 and Nigeria\u2019s Ngozi Okonjo-Iweala \u2014 ex-finance minister and World Bank official \u2014 are the frontrunners for the position, the FT<\/a> says. Egyptian-Swiss lawyer and trade negotiator Abdel Hamid Mamdouh is Egypt\u2019s candidate.<\/p>\n","protected":false},"excerpt":{"rendered":"

A word of friendly advice? Don\u2019t read our interview this morning with International Cooperation Minister Rania Al-Mashat. Listen to it instead. Trust us on this. You\u2019ll get the gist from this morning\u2019s story, but if you really want to get to know the woman leading Egypt\u2019s program of economic diplomacy, you need to hear her […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[7204],"tags":[528,147,163,72,725,7093,2065,4222,238],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-572805","post","type-post","status-publish","format-standard","hentry","category-what-were-tracking-today","tag-aviation","tag-climate-change","tag-dubai","tag-enterpriseam","tag-european-central-bank","tag-gold","tag-naguib-sawiris","tag-quantitative-easing","tag-tourism","wpautop","entry"],"acf":{"mongo_id":"4f524be1-c77b-476e-9bdc-9d76d48b0fbe","is_powered_by":true,"story_type":"1","photo_url":"","photo_position":"above","related_issue":[572803],"teaser":"","voice_url":""},"yoast_head":"\nWhat we\u2019re tracking on 9 July 2020 - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2020\/07\/09\/what-were-tracking-on-9-july-2020\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"What we\u2019re tracking on 9 July 2020\" \/>\n<meta property=\"og:description\" content=\"A word of friendly advice? 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Banks and the EGX are closing their doors tomorrow in observance of the national holiday, the Central Bank of Egypt and EGX said. We\u2019re also off tomorrow\u2026","rel":"","context":"In "What We're Tracking Today"","block_context":{"text":"What We're Tracking Today","link":"https:\/\/enterpriseam.com\/egypt\/category\/what-were-tracking-today\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":604808,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/12\/13\/what-were-tracking-on-12-december-2018-2\/","url_meta":{"origin":572805,"position":2},"title":"What we\u2019re tracking on 12 December 2018","author":"enterpriseam admin","date":"13 December 2018","format":false,"excerpt":"It\u2019s a pleasantly quiet morning to end a very hectic week. We hope all of you are looking forward to the weekend as much as we are. The highlight of the day is likely to be Tourism Minister Rania Al Mashat\u2019s unveiling of her turnaround plan for the industry. Tourism\u2026","rel":"","context":"In "What We're Tracking Today"","block_context":{"text":"What We're Tracking Today","link":"https:\/\/enterpriseam.com\/egypt\/category\/what-were-tracking-today\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":593224,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/11\/21\/what-were-tracking-on-21-november-2019\/","url_meta":{"origin":572805,"position":3},"title":"What we\u2019re tracking on 21 November 2019","author":"enterpriseam admin","date":"21 November 2019","format":false,"excerpt":"*** Episode one of Making It, our first-ever podcast, drops tomorrow morning at 8am. Season one of Making It will ask eight CEOs how they\u2019re building great businesses \u2014 whether they\u2019re scrappy startups of Egyptian multinationals. Want a sneak peek? 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Hosted by Dan Taberski, this seven-part series dives deep into a baffling outbreak of illness among high school girls in LeRoy, New York.How it all starts: It\u2019s 2011, and a 16-year-old girl posts a video on YouTube. 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