{"id":575158,"date":"2020-10-05T04:10:44","date_gmt":"2020-10-05T04:10:44","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2020\/10\/05\/what-were-tracking-on-5-october-2020\/"},"modified":"2020-10-05T04:10:44","modified_gmt":"2020-10-05T04:10:44","slug":"what-were-tracking-on-5-october-2020","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2020\/10\/05\/what-were-tracking-on-5-october-2020\/","title":{"rendered":"What we\u2019re tracking on 5 October 2020"},"content":{"rendered":"<p><strong>Good morning, ladies and gents<\/strong>, and welcome to what is (so far) a relatively calm news day.<\/p>\n<p><strong>We love writing to all of you each morning<\/strong>, but there\u2019s nothing we love more than to see how engaged our readers are. A number of you wrote to us over the weekend to give us your two cents on our latest edition of Your Wealth, our special monthly briefing, in which we dipped our toes into the expansive world of art. We read each and every one of your messages (even the multi-paragraph emails) and truly appreciate you all taking the time to drop us a line with your feedback.<\/p>\n<hr class=\"grey-line\">\n<p><strong>Calling all golf aficionados:<\/strong> Our friends at Somabay are hosting a three-day golf tournament over the upcoming three-day weekend (8-10 October) on the Somabay Championship Gary Player Course. The tournament, which will follow the rules of golf approved by the Royal & Ancient Golf Club of St Andrews, will be held under the auspices of the Egyptian Golf Federation. You can register for the event by contacting <a href=\"mailto:ghada@somabay.com\">ghada@somabay.com<\/a> or calling +201223934205, and find out more about special accommodation packages <a href=\"https:\/\/ent.news\/2020\/10\/image-4.png\">here<\/a>.<\/p>\n<hr class=\"grey-line\">\n<p><strong>It\u2019s PMI day<\/strong>, with the September figures for Egypt, Saudi Arabia, and the UAE <a href=\"https:\/\/www.markiteconomics.com\/Public\/Release\/PressReleases?language=en\">due out here<\/a> at 6:15am \u2014 just a few minutes after our usual dispatch time. The recovery of Egypt\u2019s non-oil private sector stalled <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/5db5c208-73ce-4d80-b9f5-815d37efef76\">in August<\/a> despite growth in output and demand, after business conditions rebounded <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/aaa2b485-2ac7-44a7-a97c-5b3247eafeb0\">in July<\/a>.<\/p>\n<p><strong>Other news triggers over the coming weeks:<\/strong><\/p>\n<ul>\n<li><strong>Foreign reserve figures for September<\/strong> should be out this week.<\/li>\n<li><strong>Inflation data for September<\/strong> will land on Saturday, 10 October.<\/li>\n<\/ul>\n<p><strong>We\u2019ll have a final list today of candidates standing in the upcoming House of<\/strong><strong> Representatives elections<\/strong> that are scheduled to kick off later this month and run through early December, according to the National Elections Authority <a href=\"https:\/\/www.elections.eg\/images\/pdfs\/HoR2020-Election-Timeline.pdf\">public timeline<\/a>. Voters go to the polls to elect a new House of Representatives in a multi-stage process starting 21 October (voters abroad) and 24 October (in Egypt).<\/p>\n<p><strong>Investors will be able to bid on industrial land in manufacturing zones this week<\/strong>, said Mohamed El Sayed Fadel, head of the Trade Ministry\u2019s Industrial Development Authority, according to <a href=\"https:\/\/bit.ly\/3jHulko\">Al Mal<\/a>. The ministry has set specific industries and projects that can be set up in these zones based on market needs, Minister Nevin Gamea said yesterday (<a href=\"https:\/\/www.youtube.com\/watch?v=K07xbsSrmss&t=403s\">watch: runtime: 19:05<\/a>).<\/p>\n<hr class=\"grey-line\">\n<p><strong>The Health Ministry <\/strong><strong><a href=\"https:\/\/bit.ly\/3lhsXpl\">reported<\/a><\/strong><strong> 108 new covid-19 infections yesterday<\/strong>, up from 109 the day before. Egypt has now disclosed a total of 103,683 confirmed cases of covid-19. The ministry also reported 11 new deaths, bringing the country\u2019s total death toll to 5,981. We now have a total of 97,355 confirmed cases that have fully recovered.<\/p>\n<p><strong>The ministry is now gearing up for a potential second wave of infections<\/strong>, with President Abdel Fattah El Sisi stressing yesterday the importance of being prepared, Ittihadiya said in <a href=\"https:\/\/www.facebook.com\/Egy.Pres.Spokesman\/posts\/993403601179020\">a statement<\/a>.<\/p>\n<p><strong>New preventative m<\/strong><strong>easures for stopping the spread of covid in schools:<\/strong> Classes will be closed for 28 days if more than one case of covid-19 is detected within a two-week period, according to <a href=\"http:\/\/portal.moe.gov.eg\/Pages\/single-news-view.aspx?NewsID=4686\">new guidelines<\/a> for public, private and international schools published by the Education Ministry yesterday. The entire school will be shuttered for 28 days should more than one classroom be closed in a two-week period. On her first night back on the airwaves, Kelma Akhira\u2019s Lamees El Hadidi got the details on the Education Ministry\u2019s guidelines for containing covid-19 infections in schools from Minister Tarek Shawki, who noted that these policies were put in place in coordination with the Health Ministry (<a href=\"https:\/\/www.youtube.com\/watch?v=67q52N1dHtM\">watch: runtime: 4:58<\/a>).<\/p>\n<p><strong>Pilgrims returned to Mecca yesterday after the government lifted its Umrah ban<\/strong>, reviving the holy site that has been all but deserted for the past seven months, <a href=\"https:\/\/www.reuters.com\/article\/us-health-coronavirus-saudi-umrah\/umrah-pilgrims-return-to-a-mecca-stilled-by-covid-19-slump-idUSKBN26P07U\">Reuters<\/a> reports. Only local residents were allowed into the holy site with a 30% maximum capacity, or 6k people a day, with international pilgrims to be allowed entry starting from 1 November.<\/p>\n<p><strong>Almost half the jobs in the Middle East\u2019s aviation-dependent industries may be lost <\/strong><strong>this year<\/strong> as a result of border closures that have slashed the industries\u2019 contribution to GDP, the International Air Transport Association (IATA) <a href=\"https:\/\/www.iata.org\/en\/pressroom\/pr\/2020-10-01-02\/\">has said<\/a>. The trade association urged countries to ramp up covid-19 testing \u201cas an alternative to restrictive quarantine measures\u201d to avoid further job loss in the region.<\/p>\n<p class='web-image' ><a href='https:\/\/somabay.com\/'><img data-recalc-dims=\"1\" src=\"https:\/\/i0.wp.com\/ent.news\/2020\/10\/SOMA-ENTERPRISE2.jpg?ssl=1\" alt='enterprise'><\/a><\/p>\n<p><strong>Middle Eastern sovereign wealth funds are helping investment firms <\/strong><strong>splurge on lending to major corporations<\/strong> battered by the pandemic, as private borrowing becomes increasingly popular thanks to the flexibility and privacy it offers compared to conventional forms of financing, <a href=\"https:\/\/www.ft.com\/content\/c49bbe12-3cc8-4f22-a6b5-53b9ad399555\">the FT<\/a> reports. Abu Dhabi\u2019s sovereign wealth fund, Mubadala, teamed up with private equity firm Apollo earlier this year to exclusively seek out big ticket loan agreements for no less than USD 1 bn each, with an eye to loan out USD 12 bn in only three years.<\/p>\n<p><strong>Uber has offloaded a stake in its freight arm for USD 500 mn<\/strong> <strong>to a group of private<\/strong> <strong>equity firms<\/strong> as the company looks to focus on its core business and recover from painful losses suffered during the pandemic, <a href=\"https:\/\/www.ft.com\/content\/275983dc-8e4c-446f-acb8-f10b3dc79292\">the FT<\/a> reports.<\/p>\n<p><strong>Go long on Musk:<\/strong> The space economy will more than triple in size over the next decade to become a USD 1.4 tn industry, a Bank of America analyst wrote in a note picked up by <a href=\"https:\/\/www.cnbc.com\/2020\/10\/02\/why-the-space-industry-may-triple-to-1point4-trillion-by-2030.html\">CNBC<\/a>. With record investments and B2B spending largely unaffected by the pandemic\u2019s outbreak, the bank is estimating that based on the industry\u2019s growth rate over the past two years, revenues will grow from USD 424 bn last year to around USD 1.4 tn in 2030, <a href=\"https:\/\/www.cnbc.com\/2020\/10\/02\/why-the-space-industry-may-triple-to-1point4-trillion-by-2030.html\">CNBC<\/a> reports.<\/p>\n<p>In international miscellany:<\/p>\n<ul>\n<li><strong>Facebook is preparing to defend itself against potential anti-trust lawsuits<\/strong>, arguing in a legal document that it would be expensive, nearly impossible, and harmful to users to break up its social media empire, the <a href=\"https:\/\/www.wsj.com\/articles\/facebook-says-government-breakup-of-instagram-whatsapp-would-be-complete-nonstarter-11601803800?mod=hp_lead_pos4\">Wall Street Journal<\/a>reports. This preemptive defense comes as the House Antitrust Subcommittee prepares to announce the findings of its investigations into Facebook, Google, Apple, and Amazon later this month.<\/li>\n<li><strong>Things are continuing to escalate in the Caucasus:<\/strong> Armenian forces have escalated clashes with Azerbaijan, firing rockets at its second city of Ganja, killing one civilian and wounding four, <a href=\"https:\/\/in.reuters.com\/article\/armenia-azerbaijan-idINL8N2GV04F\">Reuters<\/a> reports.<\/li>\n<\/ul>\n<p><strong>US ELECTION WATCH- Presidential hopeful Joe Biden is leading by his widest<\/strong><strong> margin in two separate likely voter polls<\/strong> \u2014 one conducted online by <a href=\"https:\/\/www.reuters.com\/article\/us-usa-election-poll\/biden-leads-by-10-points-as-majority-of-americans-say-trump-could-have-avoided-coronavirus-reuters-ipsos-poll-idUSKBN26P0DB?il=0\">Reuters and Ipsos<\/a> following incumbent Donald Trump\u2019s covid-19 diagnosis, and another over the phone by <a href=\"https:\/\/www.wsj.com\/articles\/biden-scores-14-point-lead-over-trump-in-poll-after-debate-11601816400\">Wall Street Journal and NBC News<\/a> following last week\u2019s debates. Biden\u2019s 10-point lead comes as many US citizens believe Trump would have avoided catching the virus if he hadn\u2019t played down the pandemic from early on, says Reuters. The former vice president led by 14 points even before Trump\u2019s confirmed diagnosis, according to the WSJ-NBC poll.<\/p>\n<p><strong>Meanwhile, Trump\u2019s health appears to be improving but might have been worse than<\/strong><strong> initially thought<\/strong>, according to <a href=\"https:\/\/www.reuters.com\/article\/us-health-coronavirus-trump\/trumps-condition-improving-received-steroid-in-covid-19-treatment-doctors-say-idUSKBN26P049\">Reuters<\/a>. His doctors are monitoring his lungs after a drop in his blood oxygen levels, but refused to give details of what they\u2019re seeing, says the newswire. The president could be released from the hospital and return to the White House today to continue a five-day treatment of Remdesivir.<\/p>\n<p class='web-image'><img data-recalc-dims=\"1\" src=\"https:\/\/i0.wp.com\/ent.news\/2019\/11\/CIRA-Blackboard-Banner-B.jpg?ssl=1\" alt='enterprise'><\/p>\n<p><strong>*** It\u2019s Blackboard day:<\/strong> We have our weekly look at the business of education in Egypt, from pre-K through the highest reaches of higher ed. Blackboard appears every Monday in Enterprise in the place of our traditional industry news roundups.<\/p>\n<p><strong>In today\u2019s issue:<\/strong> Education leaders give their opinions on Egypt\u2019s policy of internationalization and reform to retain more students and become an education hub.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Good morning, ladies and gents, and welcome to what is (so far) a relatively calm news day. We love writing to all of you each morning, but there\u2019s nothing we love more than to see how engaged our readers are. A number of you wrote to us over the weekend to give us your two [&hellip;]<\/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":[528,9869,107,73,870,928,72,1061,289,125,131,1778,527,328,219,70,441,3697],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-575158","post","type-post","status-publish","format-standard","hentry","category-what-were-tracking-today","tag-aviation","tag-classrooms","tag-covid-19","tag-education","tag-education-ministry","tag-employment","tag-enterpriseam","tag-hajj","tag-industrial-development-authority","tag-investment-watch","tag-manufacturing","tag-middle-east","tag-pandemic","tag-ride-hailing","tag-saudi-arabia","tag-schools","tag-uber","tag-umrah","wpautop","entry"],"acf":{"mongo_id":"fd68d6f3-fff6-46cc-a95a-c4037adccad8","is_powered_by":true,"story_type":"1","photo_url":"","photo_position":"above","related_issue":[575156],"teaser":"","voice_url":""},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>What we\u2019re tracking on 5 October 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\/10\/05\/what-were-tracking-on-5-october-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 5 October 2020\" \/>\n<meta property=\"og:description\" content=\"Good morning, ladies and gents, and welcome to what is (so far) a relatively calm news day. 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The world\u2019s largest streaming music service will be available at a cost of EGP 49.99 per month in Egypt as well as 13 other regional markets, including the UAE and Morocco. Egypt, Saudi Arabia, the UAE,\u2026","rel":"","context":"In &quot;What We're Tracking Today&quot;","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\/2018\/11\/369.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":627975,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/06\/20\/what-were-tracking-on-20-june-2018-2\/","url_meta":{"origin":575158,"position":1},"title":"What we\u2019re tracking on 20 June 2018","author":"enterpriseam admin","date":"20 June 2018","format":false,"excerpt":"There really are no words. Not for how we felt watching the Pharaohs crumble under pressure last night from Russia (Russia, people), nor for the residual grumpiness we feel this morning.We\u2019re not going to advise you on who to root going forward, nor are we going to run photos of\u2026","rel":"","context":"In &quot;What We're Tracking Today&quot;","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":643105,"url":"https:\/\/enterpriseam.com\/egypt\/2017\/08\/30\/what-were-tracking-on-30-august-2017\/","url_meta":{"origin":575158,"position":2},"title":"What we\u2019re tracking on 30 August 2017","author":"enterpriseam admin","date":"30 August 2017","format":false,"excerpt":"We\u2019re heading into a five-day weekend. \u2018Nuff said. We hope each and every one of you has a happy Eid full of family and friends, a safe and blessed Hajj, a relaxing Labor Day weekend, or otherwise simply enjoy a beautiful weekend. We\u2019re off the coming five days and will\u2026","rel":"","context":"In &quot;What We're Tracking Today&quot;","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":622206,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/11\/29\/what-were-tracking-on-29-november-2018\/","url_meta":{"origin":575158,"position":3},"title":"What we\u2019re tracking on 29 November 2018","author":"enterpriseam admin","date":"29 November 2018","format":false,"excerpt":"It\u2019s a big news morning on this last business day of November, and we\u2019re set to start December on a busy note: The net foreign reserves figure for November is due out from the central bank next week;The defense expo EDEX 2018 kicks off on Monday; Uber CEO Dara Khosrowshahi\u2026","rel":"","context":"In &quot;What We're Tracking Today&quot;","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":648494,"url":"https:\/\/enterpriseam.com\/egypt\/2017\/04\/05\/what-were-tracking-on-wednesday-5-april-2017\/","url_meta":{"origin":575158,"position":4},"title":"What we\u2019re tracking on Wednesday, 5 April 2017","author":"enterpriseam admin","date":"5 April 2017","format":false,"excerpt":"Something to give you pause on what seems, after a four IPO day yesterday, like a slow news morning: The FT\u2019s Martin Wolf is afraid that China\u2019s economy could \u201cunleash global mayhem.\u201d Look for more of the same in the headlines as US President Donald Trump caps a busy foreign\u2026","rel":"","context":"In &quot;What We're Tracking Today&quot;","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":637669,"url":"https:\/\/enterpriseam.com\/egypt\/2017\/11\/22\/cac-injaz-team-takes-home-two-trophies-from-11-country-regional-competition\/","url_meta":{"origin":575158,"position":5},"title":"CAC Injaz team takes home two trophies from 11-country regional competition","author":"enterpriseam admin","date":"22 November 2017","format":false,"excerpt":"Also from the land of education, some very nice news this morning: Egypt\u2019s entry to the Injaz regional student entrepreneurship contest took home two trophies from the three-day regional finals held in Cairo. The Cairo American College \u2018Zip & Flip\u2019 team, representing Egypt in an 11-country competition, won nods for\u2026","rel":"","context":"In &quot;What We're Tracking Today&quot;","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\/2017\/5\/1095.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/575158","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=575158"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/575158\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/575156"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=575158"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=575158"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=575158"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=575158"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=575158"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}