{"id":574706,"date":"2020-09-20T03:59:39","date_gmt":"2020-09-20T03:59:39","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2020\/09\/20\/what-were-tracking-on-20-september-2020\/"},"modified":"2020-09-20T03:59:39","modified_gmt":"2020-09-20T03:59:39","slug":"what-were-tracking-on-20-september-2020","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2020\/09\/20\/what-were-tracking-on-20-september-2020\/","title":{"rendered":"What we\u2019re tracking on 20 September 2020"},"content":{"rendered":"

<\/a> 9\/20 marks the start of our birthday week here at Enterprise.<\/strong> On September 20, we wrote the first \u201czero issue\u201d of what became your morning read \u2014 two more followed before we released issue 1 on 25 September 2014. Exactly 50 of you read it. Fast forward six years and we\u2019re on track to have more than 160k unique readers this month between our email and web editions \u2014 with most of you coming back multiple times per week (bless you). This morning, for those of you keeping count at home, is issue #1,419\u2026We\u2019ll have more for you later this week on how we plan to celebrate our sixth year.<\/p>\n

In the meantime, make our birthday awesome by checking out this tune.<\/strong> Yes, our distaste for techno-shaabi is well documented. Yes, we remain sure that Omm Kolthoum is spinning in her grave. But when your college-bound nephew celebrates the start of his engineering studies in London by dropping a track, you tend to have changes of heart.<\/strong><\/p>\n

Tap or click here to listen to Yoda by Khalaf on Anghami<\/a><\/strong>, better known as Aly Khalifa, nephew of our Grand Poobah and all-around awesome guy. Haven\u2019t signed up for Anghami yet? Listen here on our website.<\/a><\/p>\n

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It\u2019s interest rate week, ladies and gents \u2014 and we\u2019re calling a \u2018hold\u2019.<\/strong> All 11 analysts and economists we surveyed expect rates to be left unchanged for a fifth consecutive meeting when the Monetary Policy Committee convenes this Thursday. We have the full results of our regular poll in this morning\u2019s Speed Round, below.<\/p>\n

Our <\/strong>newly-elected<\/a><\/strong> senators are getting a welcome party today and tomorrow at<\/strong> their new headquarters<\/strong> ahead of the first official session of the Senate, which is scheduled for two weeks from today, according to a cabinet statement<\/a>. A total of 200 Senate members have been elected, with the 100 remaining spots in the 300-seat chamber set to be decided by President Abdel Fattah El Sisi.<\/p>\n

Meanwhile, aspiring candidates for the <\/strong>upcoming parliamentary elections<\/a><\/strong> have until <\/strong>Saturday to submit their applications<\/strong> to the National Election Authority (NEA), reports Al Shorouk<\/a>. The elections kick-off on 21 October when expats from the 14 governorates included in the first phase of voting go to the polls. We have the full breakdown here<\/a>.<\/p>\n

The cabinet\u2019s decision to relax some restrictions on mass gatherings<\/strong> comes into effect tomorrow.<\/strong> Public wedding celebrations, funeral prayers, expos, and some sports and educational activities will resume \u2014 subject to some restrictions \u2014 for the first time since March after the government last week agreed to ease curbs on gatherings<\/a>.<\/p>\n

EFG Hermes\u2019 virtual investor conference kicks off tomorrow<\/strong> and wraps next Thursday, 1 October. You can visit the conference website here<\/a>.<\/p>\n

The Arab-Brazilian Chamber of Commerce is <\/strong>hosting a webinar<\/a><\/strong> on<\/strong> Egypt-<\/strong>Mercosur<\/a><\/strong> trade today<\/strong>. The online conference is expected to discuss trade between Egypt and the South American economic bloc, and follows a meeting with the Food Export Council held last week<\/a> with Brazil\u2019s ambassador in Cairo.<\/p>\n

Oriental Weavers chairman Mohamed Farid Khamis passed away on Saturday at<\/strong> the age of 80 <\/strong>following a long struggle with illness, the local press<\/a> reports, citing a statement from the Egyptian Federation of Investors Associations (EFIA), over which he presided as chairman. Khamis died in the US while receiving treatment for an undisclosed illness. A prominent local brand, EGX-listed Oriental Weavers<\/a> is an Egypt-based company that specializes in machine-woven carpets and rugs for the local and global market, with subsidiaries in the US and China. Khamis\u2019 Orientals Group also operates Orientals Urban Development<\/a> and Orientals Petrochemicals Company<\/a>.<\/p>\n

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The Health Ministry <\/strong>reported<\/a><\/strong> 128 new covid-19 infections yesterday<\/strong>, down from 131 the day before. Egypt has now disclosed a total of 101,900 confirmed cases of covid-19. The ministry also reported 17 new deaths, bringing the country\u2019s total death toll to 5,750. We now have a total of 88,666 confirmed cases that have fully recovered.<\/p>\n

Covid-19 has made Egypt\u2019s efforts to develop human capital all the more crucial:<\/strong> Egypt\u2019s education and health reform programs funded by the World Bank could help the country to preserve improvements made to human capital development amid the covid-19 pandemic, Maria Laura Sanchez Puerta, the World Bank\u2019s human development program leader in Egypt, writes in a blog post<\/a>. The USD 500 mn project to reform the education system and the USD 530 mn healthcare program are supplementing the slight gains made over the previous decade: it is estimated that a child born in 2020 is likely to be 49% as productive as one enjoying complete education and full health, compared to the 48% productivity of a child born 10 years earlier. \u201cThe crisis created by the pandemic has made Egypt\u2019s investments in human capital more crucial than ever \u2014 both to protect its fragile gains and spur its future generations onto greater productivity,\u201d she writes.<\/p>\n

EgyptAir is offering discounts of up to 20% for flyers who buy vouchers worth<\/strong> EGP 300-700 before 20 October<\/strong>, the company announced in a statement<\/a>. The offer hands customers who buy a EGP 300 voucher a 10% discount on flight tickets, while a EGP 500 voucher carries a 15% discount and a EGP 700 voucher grants a 20% discount. The vouchers are valid for one year. The national flag carrier lost some EGP 3 bn<\/a> in revenues during 2Q2020 when flights were grounded due the pandemic. The airline was operating at around 45%<\/a> of its pre-covid capacity two months after flights were resumed at the beginning of July, but is still haemorrhaging EGP 600-700 mn every month<\/a>.<\/p>\n

International carriers are also getting a helping hand: <\/strong>Airlines operating at airports in the Red Sea, South Sinai and Marsa Matrouh governorates will be granted a 50% discount on landing and accommodation fees, and a 20% discount on ground services, the local press<\/a> reports, citing a decision by Civil Aviation Minister Mohamed Manar published in the Official Gazette.<\/p>\n

SIGN OF THE TIMES- Apparently, some people miss flying so much that airlines may begin offering a<\/strong> \u201cflight to nowhere\u201d that takes off and lands in the same destination<\/strong>, according to CNBC<\/a>. The idea could help hard-hit air carriers like Singapore Airlines shore up revenues, while providing nostalgic passengers with the chance to fly for a few hours. Our only question is: Who actually enjoys flights?<\/p>\n

\"enterprise\"<\/a>Take a moment to breathe in and watch the beauty around. It\u2019s time for your mind to wander to beautiful places at Somabay and let nature work its magic.<\/p>\n

MARKET WATCH- US stocks were down on Friday<\/strong> \u2014 with the Dow, Nasdaq, and S&P 500 all clocking losses of around 1%. The tech-heavy Nasdaq extended losses for a third day on news that the Trump administration was moving to block downloads of Chinese apps TikTok and WeChat, while the S&P 500 hit six-week lows due to the so-called \u201cquadruple witching<\/a>\u201d \u2014 a quarterly event when all equity derivatives expire on the same day, Bloomberg<\/a> says. Elsewhere, the pan-European Stoxx 600 was 0.7% lower<\/a> on Friday as investors fretted about rising covid-19 cases in Europe.<\/p>\n

The lack of a new iPhone model in Apple\u2019s \u201cunderwhelming\u201d product launch last<\/strong> week didn\u2019t help the tech company\u2019s nosediving market value<\/strong>, which has dropped 22.6% \u2014 or USD 532 bn \u2014 since its 2 September intraday record of USD 137.98 \/ share, CNBC<\/a> said Friday. While Apple\u2019s product launch last week<\/a> \u2014 which showed off a revamped iPad, Apple Watch 6, Apple One subscription plan, but no new iPhone \u2014 is partially to blame, the iPhone maker\u2019s stock has dropped in line with the sell-off on the Nasdaq<\/a>.<\/p>\n

Trump approves TikTok-Oracle agreement \u201cin concept\u201d:<\/strong> In an about-turn, The Donald yesterday announced that he had approved Oracle\u2019s offer to take over TikTok\u2019s US operations, Bloomberg<\/a> reports. The US Commerce Department said Friday<\/a> that it would move to ban the Chinese social media giant from the US as of today, but Trump yesterday said that he had given his approval to the agreement \u201cin concept.\u201d US companies would own 53% of the new TikTok Global company and Chinese investors 36%, satisfying US demands it be under American control, the Wall Street Journal<\/a> reports, citing an unnamed source familiar with the pact.<\/p>\n

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US ELECTION WATCH- <\/strong>Women\u2019s rights champion and Supreme Court Justice Ruth Bader Ginsburg (RBG)<\/strong>has died<\/a><\/strong> at 87<\/strong>, after spending 27 years on the US\u2019 nine-member Supreme Court. The death of liberal RBG \u2014 the second woman ever to hold a seat on the court since its establishment \u2014 will allow US President Trump to appoint a replacement justice, expanding the court\u2019s conservative majority 6-3. This could not only drastically change the outcome of upcoming Supreme Court hearings on issues such as gun control and voting rights, but also saddle a Biden presidency with a conservative-majority supreme court<\/a> in the event of a Democratic win.<\/p>\n","protected":false},"excerpt":{"rendered":"

9\/20 marks the start of our birthday week here at Enterprise. On September 20, we wrote the first \u201czero issue\u201d of what became your morning read \u2014 two more followed before we released issue 1 on 25 September 2014. Exactly 50 of you read it. Fast forward six years and we\u2019re on track 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":[184,528,880,72,164,1304,844,639],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-574706","post","type-post","status-publish","format-standard","hentry","category-what-were-tracking-today","tag-apple","tag-aviation","tag-egyptair","tag-enterpriseam","tag-equities","tag-gcc","tag-iphone","tag-technology","wpautop","entry"],"acf":{"mongo_id":"7d7a2c0c-bda0-45a8-9f38-2f53e452a561","is_powered_by":true,"story_type":"1","photo_url":"","photo_position":"above","related_issue":[574704],"teaser":"","voice_url":""},"yoast_head":"\nWhat we\u2019re tracking on 20 September 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\/09\/20\/what-were-tracking-on-20-september-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 20 September 2020\" \/>\n<meta property=\"og:description\" content=\"9\/20 marks the start of our birthday week here at Enterprise. 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Tomorrow is officially off: The stock exchange and the central bank have announced they will close tomorrow in observance of Islamic new year after a Labor Ministry statement noting it would be a national holiday. Happy first day of 1440, y\u2019all, and see you back here\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":641490,"url":"https:\/\/enterpriseam.com\/egypt\/2017\/09\/25\/what-were-tracking-on-25-september-2017\/","url_meta":{"origin":574706,"position":1},"title":"What we\u2019re tracking on 25 September 2017","author":"enterpriseam admin","date":"25 September 2017","format":false,"excerpt":"We\u2019re three years old this morning, and we\u2019re feeling a little chuffed about that. On this day in 2014, we sent out the first issue of Enterprise to just under 50 friends and family, and the rest is history. In the time since, we\u2019ve written roughly 6,171,000 words about business,\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":641218,"url":"https:\/\/enterpriseam.com\/egypt\/2017\/09\/17\/what-were-tracking-on-17-september-2017\/","url_meta":{"origin":574706,"position":2},"title":"What we\u2019re tracking on 17 September 2017","author":"enterpriseam admin","date":"17 September 2017","format":false,"excerpt":"** TAP OR CLICK HERE TO TAKE OUR 3Q2017 READER SENTIMENT SURVEY: We\u2019re asking you throughout this week how you feel about doing business in Egypt this year, if you\u2019ll invest more and the biggest challenges you face, among other questions. The survey, the largest quarterly take on the pulse\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":671155,"url":"https:\/\/enterpriseam.com\/egypt\/2025\/09\/01\/incoming-updates-to-red-sea-land-use-and-investment-rules\/","url_meta":{"origin":574706,"position":3},"title":"Incoming updates to Red Sea land use and investment rules","author":"enterpriseam admin","date":"1 September 2025","format":false,"excerpt":"Good afternoon, friends, and congratulations on making it to the halfway mark of a (now officially) shorter-than-usual workweek, with the Labor Ministry confirming Thursday, 4 September a holiday in commemoration of the Prophet Muhammad\u2019s birthday.THE BIG STORY TODAY- The government is preparing new rules for land use and investment along\u2026","rel":"","context":"In "WHAT WE\u2019RE TRACKING TONIGHT"","block_context":{"text":"WHAT WE\u2019RE TRACKING TONIGHT","link":"https:\/\/enterpriseam.com\/egypt\/category\/what-were-tracking-tonight\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2024\/10\/1155.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":642929,"url":"https:\/\/enterpriseam.com\/egypt\/2017\/08\/27\/what-were-tracking-this-week-145\/","url_meta":{"origin":574706,"position":4},"title":"What we\u2019re tracking this week","author":"enterpriseam admin","date":"27 August 2017","format":false,"excerpt":"The Ismail cabinet could review the Universal Healthcare Act sometime this week, as it plans to have the legislation presented to the House of Representatives and issued by September.","rel":"","context":"In "What We\u2019re Tracking This Week"","block_context":{"text":"What We\u2019re Tracking This Week","link":"https:\/\/enterpriseam.com\/egypt\/category\/what-were-tracking-this-week\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":637283,"url":"https:\/\/enterpriseam.com\/egypt\/2017\/11\/13\/what-were-tracking-this-week-99\/","url_meta":{"origin":574706,"position":5},"title":"What we\u2019re tracking this week","author":"enterpriseam admin","date":"13 November 2017","format":false,"excerpt":"The central bank\u2019s Monetary Policy Committee convenes on Thursday to review interest rates in light of urban consumer price inflation dropping to 30.8% in October from 31.6% in September \u2014 the third straight month of declining inflation.","rel":"","context":"In "What We\u2019re Tracking This Week"","block_context":{"text":"What We\u2019re Tracking This Week","link":"https:\/\/enterpriseam.com\/egypt\/category\/what-were-tracking-this-week\/"},"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\/574706","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=574706"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/574706\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/574704"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=574706"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=574706"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=574706"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=574706"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=574706"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}