{"id":575235,"date":"2020-10-07T04:12:58","date_gmt":"2020-10-07T04:12:58","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2020\/10\/07\/what-were-tracking-on-7-october-2020\/"},"modified":"2020-10-07T04:12:58","modified_gmt":"2020-10-07T04:12:58","slug":"what-were-tracking-on-7-october-2020","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2020\/10\/07\/what-were-tracking-on-7-october-2020\/","title":{"rendered":"What we\u2019re tracking on 7 October 2020"},"content":{"rendered":"

Good morning, friends. We hope you\u2019re looking forward to the long weekend as much as <\/strong>we are. <\/strong>We\u2019re looking forward to a well-earned break, but will also take a moment to honor those who have served in our country\u2019s conflicts, particularly those who made the ultimate sacrifice.<\/p>\n

We have 4,032 candidates vying for seats in the upcoming House of Representatives <\/strong>elections<\/strong>, according to the final list the National Elections Authority released yesterday, Youm7<\/a> reports. The list was finalized after the Administrative Court issued its final rulings on appeals from candidates whose bids were not accepted. Voters will go to the polls in a multi-stage process starting 21 October (voters abroad) and 24 October (in Egypt).<\/p>\n

Season three of Making It, our podcast on how to build a great business in Egypt, debuts<\/strong> tomorrow <\/strong>\u2014 just in time for the long weekend \u2014 with new episodes available each Thursday thereafter. Making It is brought to you in association with our friends at CIB and USAID.<\/p>\n

Tap or click here to listen to this season\u2019s trailer<\/strong> on our website<\/a> | Apple Podcasts<\/a> | Google Podcasts<\/a>.<\/p>\n

USAID\u2019s acting administrator, John Barsa, is in town until tomorrow<\/strong> for a three-day visit focused on economic development and religious freedom, according to a US Embassy statement<\/a>. Joined by Minister of International Cooperation Rania Mashat, Barsa paid a visit yesterday to Flat6Labs \u2014 which is supported by USAID and the Egyptian-American Enterprise Fund \u2014 and to Coptic Orphans, which has helped girls in Upper Egypt to develop leadership skills with the organization\u2019s support. The embassy noted that Flat6 has helped more than 100 businesses create nearly 7.5k jobs. USAID has invested some USD 30 bn in Egypt since 1978.<\/p>\n

Speaking of the US of A: <\/strong>Kamala Harris and Mike Pence are going head-to-head in the<\/strong> vice presidential debate <\/strong>tonight<\/strong> in Salt Lake City. The hometown angle for us (beyond enjoying the show across the pond): EM bonds are among the options on the menu now as investors look to hedge their portfolios against a potential post-election selloff, the FT<\/a> reports.<\/p>\n

We\u2019re getting new shiny new polymer banknotes in 2021:<\/strong> The central bank will begin printing plastic EGP 10 and EGP 20 notes, which have at least three times the lifespan of traditional paper money, once the new administrative capital printshop becomes operational, reports Youm7<\/a>.<\/p>\n

***<\/strong><\/p>\n

The last time we swatted a white spheroid with a weighted stick was as a requirement to <\/strong>graduate high school<\/strong>, but we are given to understand that many of you out there enjoy said pastime. In our dotage, we have moved on to swinging at fuzzy yellow balls, but for those of you who prefer golf:<\/p>\n

It isn\u2019t too late to register for a three-day golf championship this long weekend on a Gary <\/strong>Player-designer course. <\/strong>Our friends at Somabay are hosting a three-day golf tournament running 8-10 October. 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. Register for the event <\/strong>by emailing ghada@somabay.com or calling +20 12 2393 4205, and find out more about special accommodation packages here<\/a>.<\/p>\n

***<\/strong><\/p>\n

The IMF and World Bank\u2019s <\/strong>fall meetings<\/a><\/strong> are next week (16-18 October), and already we\u2019re <\/strong>being warned that \u201cthe calamity is far from over.\u201d <\/strong>The global economy\u2019s path to recovery is far from certain, fund boss Kristalina Georgieva warned yesterday, urging governments to do \u201cwhatever it takes\u201d to avoid stagnation. Speaking ahead of next week\u2019s annual meetings, Georgieva said the global economy faces a \u201clong ascent\u201d to pre-covid growth levels and warned policymakers that removing the emergency measures introduced to support the economy could result in \u201csevere economic scarring.\u201d This comes a day after the IMF called on advanced economies<\/a> to ramp up public investment in infrastructure (Financial Times<\/a> | CNBC<\/a> | The Guardian<\/a>).<\/p>\n

Next week will be awesome for gadget nerds: <\/strong><\/p>\n

Apple is set to unveil new iPhones next Tuesday at its virtual \u201cHi, Speed\u201d event.<\/strong> Pundits expect to see a big reveal of new iPhones that support 5G, as well as new AirPods and possibly tags to find lost items seamlessly, Reuters<\/a> and Bloomberg<\/a> report.<\/p>\n

Nikon will until its much-awaited Z6 II and Z7 II mirrorless cameras on Wednesday. <\/strong>Nikon<\/a>Rumors<\/a> has a rundown on what you can expect, including dual card slots, the promise of better AF thanks to twin processors, and a real vertical grip accessory. While you\u2019re there, check out NR\u2019s first rumored specs of the Z9, which looks like a beast<\/a>.<\/p>\n

Fujifilm will unveil its X-S10 midrange mirrorless camera on Thursday. <\/strong>FujiRumors<\/a> has more.<\/p>\n

Four Egyptian companies have made <\/strong>Forbes\u2019 list<\/a><\/strong> of the Middle East\u2019s 50 most-funded<\/strong> start-ups:<\/strong> Halan<\/a>, Adzily<\/a>, MoneyFellows<\/a>, and Lucky<\/a> are among the region\u2019s best funded startups, raising a collective USD 60.7 mn since their founding. Halan, the international ride hailing app and on-demand delivery startup has so far raised USD 23.5 mn from investors. Digital advertising platform Adzily was noted to have raised USD 12.2 mn. Dsquares\u2019 consumer discounts platform Lucky raised USD 20 mn from investors, while fintech startup MoneyFellows saw USD 5 mn invested since its 2016 launch.<\/p>\n

PSA- Look for a warm weekend before temperatures cool next week<\/strong> to the low 30\u00b0c range as we slide into fall weather.<\/p>\n

\n

The Health Ministry <\/strong>reported<\/a><\/strong> 121 new covid-19 infections yesterday<\/strong>, up from 98 the day before. Egypt has now disclosed a total of 103,902 confirmed cases of covid-19. The ministry also reported 11 new deaths, bringing the country\u2019s total death toll to 6,001. We now have a total of 97,449 confirmed cases that have fully recovered.<\/p>\n

One in 10 of the world\u2019s population may have already been infected by the virus<\/strong>, Mike Ryan, director of the WHO\u2019s Health Emergencies Programme, said on Monday, CNN<\/a> reports. More than 35.6 mn cases have so far been reported globally, according to the Johns Hopkins University\u2019s covid tracker<\/a>.<\/p>\n

A covid-19 vaccine might be ready by the end of 2020<\/strong>, WHO Director-General Tedros Adhanom Ghebreyesus said, calling for equal distribution when immunization is available, according to Reuters<\/a>. Currently, there are nine experimental vaccines in the pipeline of the WHO\u2019s Covax global facility, which aims to distribute 2 bn doses by the end of 2021.<\/p>\n

Pfizer and BioNTech\u2019s vaccine is getting expedited clearance from the EU\u2019s<\/strong> medical regulator<\/strong>, allowing mass production to begin immediately if it is judged to be safe following phase three trials, the Financial Times<\/a> reports. Pfizer previously said<\/a> that it will be able to assess whether the shot is safe and effective before the end of October.<\/p>\n

enterprise<\/a>As a first-class leading golfing destination, Somabay will be hosting a 2020 edition golf tournament on its world renowned golf courses, upgraded with new innovative tweaks, driving ranges and floodlights.<\/p>\n

Somabay\u2019s golf course stands out when it comes to sustainability as solar energy is used for seawater desalination, in addition to applying smart irrigation systems to ensure minimum water consumption and cost of sand.<\/p>\n

The World Trade Organization (WTO) is a bit more optimistic than expected on global<\/strong> trade performance this year<\/strong>, saying yesterday<\/a> it expects the volume of traded goods to drop by 9.2% this year \u2014 a more upbeat outlook from the 13-32% drop it had anticipated in April. The updated forecasts came after June and July\u2019s trade volumes outperformed expectations as countries eased lockdowns, but the WTO caveats that the outlook could change again if we see a \u201cresurgence\u201d of covid-19 in 4Q2020.<\/p>\n

The rebound next year isn\u2019t going to be as sharp as previously anticipated, though:<\/strong> The WTO is now penciling in 7.2% growth in 2021, which is a significant downwards forecast from the 21.3% growth it had expected previously, due to the threat of a second wave of lockdowns.<\/p>\n

Google-affiliated health insurance provider Clover Health is jumping on the SPAC <\/strong>bandwagon<\/strong> as it goes public through a USD 3.7 bn agreement with former Facebook executive Chamath Palihapitiya\u2019s special-purpose acquisition company (SPAC)<\/a> Social Capital Hedosophia III, the FT<\/a> reports.<\/p>\n

Don\u2019t know your SPAC from your PIPE?<\/strong> We\u2019ve got you covered here<\/a> and here<\/a>.<\/p>\n

We\u2019re that much closer to understanding black holes thanks to these Nobel <\/strong>Laureates: <\/strong><\/p>\n

enterprise<\/p>\n

Three scientists \u2014 Sir Roger Penrose, Reinhard Genzel and Andrea Ghez \u2014 have been awarded the 2020 Nobel Prize in Physics<\/a> for their research into black holes. Sir Penrose\u2019s research showed that black holes were an inevitable consequence of Einstein\u2019s theory of relativity, while Genzel and Ghez (who is the fourth woman to ever win the physics prize) provided convincing evidence that our galaxy is centered around a supermassive black hole, known as Sagittarius A*.<\/p>\n

The Nobel Prize in chemistry will be announced today<\/strong>, the literature prize tomorrow and the peace prize on Friday. The too-complicated-to-write prize in economics will be announced next Monday.<\/p>\n

Eddie Van Halen \u2014 the lead guitarist of rock band Van Halen \u2014 has passed away at age<\/strong> 65 following a battle with cancer<\/strong>, his son said yesterday<\/a>. The New York Times<\/a> and Rolling Stone<\/a>, among others, have obits for the Rock Hall of Famer.<\/p>\n

enterprise<\/p>\n

*** It\u2019s Hardhat day \u2014 your weekly briefing of all things infrastructure in Egypt:<\/strong> Enterprise\u2019s industry vertical focuses each Wednesday on infrastructure, covering everything from energy, water, transportation, urban development and as well as social infrastructure such as health and education.<\/p>\n

In today\u2019s issue:<\/strong> In part 3 of our series on how our ageing water infrastructure is causing us to lose water to leakage, we explore just how bad the leakage problem has hurt the most water intensive activity in Egypt \u2014 agriculture.<\/p>\n","protected":false},"excerpt":{"rendered":"

Good morning, friends. We hope you\u2019re looking forward to the long weekend as much as we are. We\u2019re looking forward to a well-earned break, but will also take a moment to honor those who have served in our country\u2019s conflicts, particularly those who made the ultimate sacrifice. We have 4,032 candidates vying for seats in […]<\/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":[838,115,72,272,844,310,340,127,501,715],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-575235","post","type-post","status-publish","format-standard","hentry","category-what-were-tracking-today","tag-devaluation","tag-emerging-markets","tag-enterpriseam","tag-imf","tag-iphone","tag-mnt-halan","tag-moneyfellows","tag-politics","tag-usaid","tag-world-trade-organization","wpautop","entry"],"acf":{"mongo_id":"d543beb4-951f-4560-86e8-e4dae3cea0f0","is_powered_by":true,"story_type":"1","photo_url":"","photo_position":"above","related_issue":[575233],"teaser":"","voice_url":""},"yoast_head":"\nWhat we\u2019re tracking on 7 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\/07\/what-were-tracking-on-7-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 7 October 2020\" \/>\n<meta property=\"og:description\" content=\"Good morning, friends. 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Expats from 14 governorates will go to the polls on 21-23 October in the first phase of voting while the remaining governorates will vote on 4-6 November. Voters abroad will need to register via the\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":574506,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/09\/13\/two-phase-parliamentary-elections-to-kick-off-on-21-october\/","url_meta":{"origin":575235,"position":1},"title":"Two-phase parliamentary elections to kick off on 21 October","author":"enterpriseam admin","date":"13 September 2020","format":false,"excerpt":"We\u2019re heading to the polls again next month to elect a new Parliament: The two-phase elections for a new set of faces in the House of Representatives will kick off in late October and wrap by mid-November for voters here at home and abroad, the National Election Authority (NEA) announced\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\/2020\/9\/143.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":573874,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/08\/23\/mostaqbal-watan-party-dominates-in-first-round-of-egypts-senate-elections\/","url_meta":{"origin":575235,"position":2},"title":"Mostaqbal Watan party dominates in first round of Egypt\u2019s Senate elections","author":"enterpriseam admin","date":"23 August 2020","format":false,"excerpt":"We now have 174 new senators representing some 20 governorates following the Senate elections that took place on 9-12 August, head of the National Election Authority Lasheen Ibrahim told reporters on Wednesday (watch, runtime 32:34). The confirmed senators cover all 100 seats allotted to party members in the 300-member chamber\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\/2020\/8\/163.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":645263,"url":"https:\/\/enterpriseam.com\/egypt\/2017\/07\/17\/what-were-tracking-on-17-july-2017\/","url_meta":{"origin":575235,"position":3},"title":"What we\u2019re tracking on 17 July 2017","author":"enterpriseam admin","date":"17 July 2017","format":false,"excerpt":"The Egyptian Exchange announced yesterday the final list of candidates vying for the listed companies\u2019 seat on its board of directors, Al Masry Al Youm reports. The first round of board elections was held in June. It\u2019s Game of Thrones day in Egypt as the season seven premiere airs on\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":607027,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/09\/25\/this-evening-we-have-a-timeline-for-the-upcoming-presidential-election\/","url_meta":{"origin":575235,"position":4},"title":"THIS EVENING: We have a timeline for the upcoming presidential election","author":"enterpriseam admin","date":"25 September 2023","format":false,"excerpt":"Good afternoon, friends. It\u2019s shaping up to be one of those days that aren\u2019t super busy yet, but seem to be gearing up to pick up steam towards the end of the day. THE BIG STORY TODAY We\u2019re heading to the polls this year: The presidential election will kick off\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\/2019\/4\/833.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":576214,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/11\/16\/pro-govt-mostaqbal-watan-party-dominates-parliamentary-elections\/","url_meta":{"origin":575235,"position":5},"title":"Pro-gov\u2019t Mostaqbal Watan party dominates parliamentary elections","author":"enterpriseam admin","date":"16 November 2020","format":false,"excerpt":"Pro-gov\u2019t Mostaqbal Watan party dominates parliamentary elections: The National List of Egypt has won every parliamentary seat allocated to party lists in the two stages of the election. The list, backed by the powerful Mostaqbal Watan Party, picked up all 142 seats in play during the second stage of voting\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\/2020\/11\/163.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\/575235","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=575235"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/575235\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/575233"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=575235"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=575235"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=575235"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=575235"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=575235"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}