{"id":573461,"date":"2020-08-06T04:03:12","date_gmt":"2020-08-06T04:03:12","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2020\/08\/06\/what-were-tracking-on-6-august-2020\/"},"modified":"2020-08-06T04:03:12","modified_gmt":"2020-08-06T04:03:12","slug":"what-were-tracking-on-6-august-2020","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2020\/08\/06\/what-were-tracking-on-6-august-2020\/","title":{"rendered":"What we\u2019re tracking on 6 August 2020"},"content":{"rendered":"

The death toll from Tuesday\u2019s massive explosion in Beirut has climbed to 135, and <\/strong>dozens more are <\/strong>still missing<\/strong>, Reuters<\/a> reports. More than 5,000 others were injured in the Tuesday blast, which initial reports suggest was caused by a fire that broke out from welding work at the port.<\/p>\n

The explosion is estimated to have caused losses worth USD 15 bn<\/strong>, Beirut Governor Marwan Abboud said. Lebanon has already been facing a severe financial crisis over the past several months.<\/p>\n

As many as 300k people are believed to be homeless <\/strong>or living in homes that have experienced significant structural damage. The story leads the front pages of the global business press for a second day in a row<\/strong>, topping the New York Times<\/a> | Financial Times<\/a> | Wall Street Journal<\/a> | Bloomberg<\/a>.<\/p>\n

Three Egyptian nationals are among the dead<\/strong>, according to statements from the Egyptian embassy in Lebanon (here<\/a>, here<\/a>, and here<\/a>). Cairo is sending two planes loaded with medical supplies to Beirut, according to a State Information Service statement<\/a>. Egypt\u2019s Medical Syndicate could also be sending Egyptian doctors<\/a> to help treat the victims.<\/p>\n

\n

<\/a> Things worth thinking about heading into the weekend:<\/strong><\/p>\n

1- The Donald will lose this fall\u2019s election<\/strong>, claims Allan Lichtman, the historian whose \u201c13 keys\u201d system has correctly predicted the outcome of every US presidential contest since Ronald Reagan\u2019s re-election in 1984. You\u2019ll have to watch this short (0<\/a>7:13<\/a>) video<\/a> to get the full rundown.<\/p>\n

2- If you\u2019re a white-collar worker, the odds are good you\u2019re working a lot more than you <\/strong>need to. <\/strong>Go back a couple of years into the New Yorker\u2019s archive for a reminder that \u201conce upon a time, it was taken for granted that the wealthier classes enjoyed a life of leisure on the backs of the proletariat. Today it is people in skilled trades who can most find reasonable hours coupled with good pay,\u201d while office workers are among \u201cthose subject to humiliation and driven like beasts of burden.\u201d<\/p>\n

Why are you working harder than your parents <\/strong>when we\u2019ve seen massive gains in productivity and women\u2019s participation in the labor force in the past half-century, so? Very probably because the \u201csystem\u201d is broken in a way that allows you or your \u201cboss\u201d to keep creating more work for yourselves. (Pro tip:<\/strong> Your \u201cboss\u201d can mean your CEO for line staff \u2014 or faceless \u201cshareholders\u201d and their demands for \u201cvalue\u201d if you\u2019re CEO). Go read: You really don\u2019t need to work so much.<\/a><\/strong><\/p>\n

Maybe that\u2019s why e<\/strong>liminating your daily commute hasn\u2019t made your workday shorter:<\/strong> The covid-19 workday is 48.5 minutes longer on average and has 13% more meetings and 1.4 times the number of emails that a pre-pandemic workday would have had, according to a new study published by the National Bureau of Economic Research cited by Bloomberg<\/a>. The study covered workers from North America to Europe and the Middle East<\/strong>, so don\u2019t dismiss it out of hand as being relevant only to \u2018western\u2019 markets.<\/p>\n

3- How has lockdown changed your personality? <\/strong>More than you may imagine right now and in ways that may not already be clear, the BBC argues in a must-read piece<\/a>. Even more challenging for the marrieds among us: Covid is messing up marriages<\/strong>, with the WSJ<\/a> warning that lockdown measures and pandemic uncertainty have \u201cproduced a pressure cooker inside homes, hurting even strong partnerships and, experts say, likely breaking others.\u201d<\/p>\n

4- Are you an old who is newly single and ready to mingle? <\/strong>The Journal suggests that it is Never too late to start your YouTube career<\/a><\/strong>, whether you\u2019re a 68-year-old fitness instructor or a 57-year-old music buff.<\/p>\n

5- And for the tech nerds among us: Samsung is out with a new folding device<\/strong>, the Galaxy Z Fold 2 alongside its Galaxy Note 20 Ultra. The Financial Times<\/a> and the Verge<\/a> have the details, but for iSheep like us, we\u2019ve frankly taken a long look at this year\u2019s newly announced Google Pixel phones<\/a>, which run a clean version of Android that\u2019s functional, looks reasonable and lacks all of the crapware Samsung installs. Verge reviewer Dieter Bohn argues that the stripped-down Pixel 4A is a worthy bargain-priced entry<\/a>.<\/p>\n

\n

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

The Health Ministry <\/strong>confirmed<\/a><\/strong> 18 new deaths from covid-19 yesterday<\/strong>, bringing the country\u2019s total death toll to 4,930. Egypt has now disclosed a total of 94,875 confirmed cases of covid-19, after the ministry reported 123 new infections yesterday. We now have a total of 47,182 confirmed cases that have fully recovered.<\/p>\n

Almost all hotels in Cairo, the North Coast, and Ain Sokhna are now licensed to operate <\/strong>at the government-decreed 50% capacity<\/strong> and a total of 620 hotels across the country have earned the health safety certificate required to operate at the reduced capacity, Assistant Tourism Minister Abdel Fattah El Assi told Al Mal<\/a>.<\/p>\n

Nearly 50k tourists have visited Sharm El Sheikh and Hurghada since Egypt reopened its<\/strong> airports on 1 July<\/strong>, Tourism Minister Khaled El Anany said, according to Al Mal<\/a>. The primary inbound markets: Ukraine, Belarusia, Serbia and Hungary.<\/strong> The news comes as Air Serbia resumed charter flights to Egypt, EX-YU Aviation News<\/a> reports. The carrier has 16 charters scheduled for the Red Sea through the end of summer, with 15 of them Hurghada-bound.<\/p>\n

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

This ETF has more gold than most of the world\u2019s central banks:<\/strong> SPDR Gold Shares is now among the biggest owners of physical gold in the world, holding more bullion than even the Japanese and Indian central banks, the Financial Times<\/a> reports. The exchange-traded fund\u2019s holdings climbed to 1,258 tonnes on Tuesday as investors continue to pile into the precious metal. Gold prices hit new record highs yesterday, rising to USD 2,053.50 \/ oz.<\/p>\n

Investors hatch plan to reach zero emissions by 2050:<\/strong> A group of investors with USD 16 tn AUM has unveiled the world\u2019s first step-by-step plan to help pension funds meet the Paris climate targets and cut emissions to zero by 2050, Reuters<\/a> reports. In a bid to encourage greener investing, the Institutional Investors Group on Climate Change has laid out specific targets for funds, such as increasing holdings in low-carbon passive indexes and putting pressure on portfolio companies to tie pay to climate-related targets.<\/p>\n

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

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

Saudi Arabia is moving forward with its nuclear plans (with a little help from<\/strong> Beijing)<\/strong>, taking it a step closer to producing nuclear material, the Wall Street Journal<\/a> reports. Weapons-grade enrichment remains a distant prospect for Saudi, but the plant, which allows it to produce yellowcake from uranium ore, is causing concern in Washington about the kingdom\u2019s nuclear ambitions, the paper says. This comes days after the UAE inaugurated the Arab world\u2019s first nuclear power plant<\/a>.<\/p>\n

Microsoft\u2019s acquisitio<\/strong>n of TikTok could be worth between USD 10 and 30 bn, <\/strong>CNBC\u2019s<\/a> David Faber<\/a> reported yesterday. If the acquisition materializes before a 15 September deadline<\/a>, after which it seems likely King Cheeto may ban the Chinese video-sharing app, which his administration has accused of exposing data on Americans to the Chinese government. The news comes as Instagram has <\/strong>launched a TikTok competitor<\/a><\/strong> dubbed \u201cReels\u201d <\/strong>and amid not-so-veiled threats from the US Secretary of State that a broader crackdown on Chinese apps<\/a> could be in the cards.<\/p>\n

Gulf countries are scrambling to invest in foreign agribusinesses and agri-tech solutions<\/strong> as the pandemic forces a reckoning with their precarious food situations, the FT<\/a> reports. Predominantly reliant on imported food, Gulf states are becoming painfully aware of the need to diversify where they get their sustenance. This means technology based agriculture \u2014 like cellular food development, AI-driven farming and high tech greenhouses \u2014 at home and big ticket purchases in foreign food groups like India\u2019s Daawt\u2019s food abroad.<\/p>\n","protected":false},"excerpt":{"rendered":"

The death toll from Tuesday\u2019s massive explosion in Beirut has climbed to 135, and dozens more are still missing, Reuters reports. More than 5,000 others were injured in the Tuesday blast, which initial reports suggest was caused by a fire that broke out from welding work at the port. The explosion is estimated to have […]<\/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":[116,72,704,462,2074,677,219,1464],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-573461","post","type-post","status-publish","format-standard","hentry","category-what-were-tracking-today","tag-china","tag-enterpriseam","tag-instagram","tag-microsoft","tag-north-coast","tag-nuclear-energy","tag-saudi-arabia","tag-tiktok","wpautop","entry"],"acf":{"mongo_id":"066e36ef-e838-465a-ab1b-5f10ecbc8ac4","is_powered_by":true,"story_type":"1","photo_url":"","photo_position":"above","related_issue":[573459],"teaser":"","voice_url":""},"yoast_head":"\nWhat we\u2019re tracking on 6 August 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\/08\/06\/what-were-tracking-on-6-august-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 6 August 2020\" \/>\n<meta property=\"og:description\" content=\"The death toll from Tuesday\u2019s massive explosion in Beirut has climbed to 135, and dozens more are still missing, Reuters reports. 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Fadi Chehad\u00e9, ICANN\u2019s previous president, was born in Beirut to Egyptian parents and is\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":573926,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/08\/24\/beirut-explosion-prompts-new-guidelines-for-disposal-of-hazardous-materials-at-egypts-ports\/","url_meta":{"origin":573461,"position":2},"title":"Beirut explosion prompts new guidelines for disposal of hazardous materials at Egypt\u2019s ports","author":"enterpriseam admin","date":"24 August 2020","format":false,"excerpt":"Beirut explosion prompts new guidelines for disposal of hazardous materials at ports: The Egyptian Authority for Maritime Safety has reportedly issued new guidelines for the storage and disposal of hazardous waste, Al Mal reports, citing sources from the authority. The new regs classify paint, varnish, ink, glue or soldering materials\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":651811,"url":"https:\/\/enterpriseam.com\/egypt\/2017\/02\/21\/egypt-egyptian-lebanese-business-forum-in-beirut-this-thursday\/","url_meta":{"origin":573461,"position":3},"title":"Egypt-Egyptian-Lebanese business forum in Beirut this Thursday","author":"enterpriseam admin","date":"21 February 2017","format":false,"excerpt":"An Egyptian-Lebanese business forum will take place in Beirut this Thursday. Lebanese PM Saad El Hariri will open the event, which Investment Minister Sahar Nasr will reportedly attend.","rel":"","context":"In "Diplomacy + Foreign Trade"","block_context":{"text":"Diplomacy + Foreign Trade","link":"https:\/\/enterpriseam.com\/egypt\/category\/diplomacy-foreign-trade\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":622017,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/11\/25\/nasr-proposes-joint-arab-investment-council-in-beirut-forum\/","url_meta":{"origin":573461,"position":4},"title":"Nasr proposes joint Arab investment council in Beirut forum","author":"enterpriseam admin","date":"25 November 2018","format":false,"excerpt":"Nasr proposes joint Arab investment council in Beirut forum: Investment and International Cooperation Minister Sahar Nasr discussed a plan to establish a joint Arab investment authorities council with Investment Development Authority of Lebanon (IDAL) head Nabil Itani during a meeting in Beirut on Friday, according to a ministry statement. The\u2026","rel":"","context":"In "Diplomacy + Foreign Trade"","block_context":{"text":"Diplomacy + Foreign Trade","link":"https:\/\/enterpriseam.com\/egypt\/category\/diplomacy-foreign-trade\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":573507,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/08\/09\/egypts-talk-shows-beirut-explosion-eez-agreement-with-greece\/","url_meta":{"origin":573461,"position":5},"title":"Egypt\u2019s talk shows: Beirut explosion + EEZ agreement with Greece","author":"enterpriseam admin","date":"9 August 2020","format":false,"excerpt":"It was a relatively insipid night on the airwaves, save for some commentary on Egypt\u2019s EEZ agreement with Greece and some coverage of the latest developments in Beirut, both of which we cover in detail in this morning\u2019s Speed Round, below. Arab League Secretary-General Ahmed Aboul Gheit\u2019s meeting with Lebanese\u2026","rel":"","context":"In "Enterprise+: Last Night\u2019s Talk Shows"","block_context":{"text":"Enterprise+: Last Night\u2019s Talk Shows","link":"https:\/\/enterpriseam.com\/egypt\/category\/enterprise-last-nights-talk-shows\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/573461","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/comments?post=573461"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/573461\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/573459"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=573461"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=573461"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=573461"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=573461"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=573461"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}