{"id":575273,"date":"2020-10-11T04:12:36","date_gmt":"2020-10-11T04:12:36","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2020\/10\/11\/what-were-tracking-on-11-october-2020\/"},"modified":"2020-10-11T04:12:36","modified_gmt":"2020-10-11T04:12:36","slug":"what-were-tracking-on-11-october-2020","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2020\/10\/11\/what-were-tracking-on-11-october-2020\/","title":{"rendered":"What we\u2019re tracking on 11 October 2020"},"content":{"rendered":"

Good morning, friends, and welcome to a new workweek. <\/strong>We hope your long weekend was as relaxing as ours was. It\u2019s a light news day as we get back into the swing of things. Bonus: We have another long weekend the week after next as the nation observes the Prophet\u2019s Birthday on Thursday, 29 October.<\/p>\n

Set to dominate headlines this week: The IMF and World Bank\u2019s (virtual) <\/strong>annual<\/a><\/strong>meetings<\/a><\/strong>, which kick off tomorrow<\/strong> and run until Sunday 18 October. The meetings, headlined \u201cSupporting a Resilient Recovery,\u201d will also focus on human capital, digital development, and poverty. Look for a coordinated response to covid-19 to be on the agenda.<\/strong><\/p>\n

Two chapters of the IMF\u2019s carefully read <\/strong>World Economic Outlook<\/a><\/strong> are already out<\/strong>, covering the economic impact of \u201cThe Great Lockdown\u201d and how to mitigate climate change. The WEO is typically published twice a year.<\/p>\n

A two-day Regional Forum for Medical Insurance and Healthcare kicks off<\/strong> here at home today<\/strong>, where private and public sector players will gather to discuss health challenges amid the pandemic, according to Youm7<\/a>. The forum is organized by the Insurance Federation of Egypt.<\/p>\n

There\u2019s just a week of campaigning left <\/strong>before voters go to the polls to elect a new House <\/strong>of Representatives.<\/strong> The campaign period will end next Sunday, 18 October \u2014 three days before expats from 14 governorates cast their ballots in the first round of voting on 21-23 October. The polls open for voters here at home on 24-25 October. Check out our calendar for a refresher on who votes when.<\/p>\n

IT\u2019S ALSO A BIG WEEK FOR: Gadget nerds. <\/strong>Apple will unveil as many as four new iPhones<\/a><\/strong> on Tuesday at its virtual \u201cHi, Speed\u201d event, which you can stream live here<\/a>. The business press is excited (WSJ<\/a> | FT<\/a>). Meanwhile, Nikon<\/strong> will until its much-awaited Z6 II and Z7 II mirrorless cameras on Wednesday \u2014 Nikon Rumors has an updated rundown<\/a> on what you can expect.<\/p>\n

And Fujifilm<\/strong> will unveil its X-S10 midrange mirrorless camera this week \u2014 it leaked over the weekend<\/a>.<\/p>\n

AND FOR SQUASH NERDS: <\/strong>The CIB Egyptian Squash Open kicked off yesterday and runs through Saturday at the New Giza Sporting Club and the Pyramids of Giza. It\u2019s the first \u201cplatinum\u201d level tournament since the PSA World Tour returned after a six-month break thanks to covid-19. Check out coverage on The Squash Site<\/a> as well as the Egyptian Squash Federation\u2019s site<\/a>.<\/p>\n

\n

The Health Ministry <\/strong>reported<\/a><\/strong> 125 new covid-19 infections yesterday<\/strong>, up from 106 the day before. Egypt has now disclosed a total of 104,387 confirmed cases of covid-19. The ministry also reported 11 new deaths, bringing the country\u2019s total death toll to 6,040. We now have a total of 97,643 confirmed cases that have fully recovered.<\/p>\n

Covid has never gone away \u2014 we\u2019re still in the first wave.<\/strong> That\u2019s what Hossam Hosni, the head of the Scientific Committee to Combat Coronavirus, told talkshow host Sayed Ali, stressing that Egypt should look to the second wave now sweeping Europe as a warning. Hosni urged citizens to continue adhering to precautionary measures, especially as we head into flu season. While covid-19 has mutated to become less severe, he said, it is very contagious (watch, runtime: 5:54<\/a>).<\/p>\n

How bad are things in Europe? <\/strong>Grim enough that pundits are talking about the economic gains of this past summer now being erased<\/a>. Canada is also in the midst of a second wave<\/a>, with new restrictions coming into effect in Toronto, Ottawa and Peel.<\/p>\n

No tourists visiting Egypt have tested positive for covid-19 in the past three months<\/strong>, according to Tourism Minister Khaled El Anany<\/a>. Tourism has begun to slowly rebound since international flights resumed in July, with some 250k tourists visiting Sharm El Sheikh and Hurghada<\/a> between July and mid-September.<\/p>\n

Saturday marked the largest number of daily international and local flights <\/strong>operated by EgyptAir since the resumption of air travel<\/strong>, with 60 flights landing in 47 destinations, according to Youm7<\/a>. This came a day after EgyptAir resumed flights between Alexandria and Dubai while also adding additional weekly flights to Muscat, Johannesburg, Kigali, and Entebbe. Meanwhile, Alexandria Airlines is set to resume flights between Cairo and southern Yemen this week, according to the National<\/a>.<\/p>\n

Citizens can now register their water meter readings online via an app to reduce footfall <\/strong>at customer service centers<\/strong>, according to a cabinet statement<\/a>. The My Reading app is available in Arabic on Android<\/a> and iOS<\/a>. The Holding Company for Water and Wastewater had previously launched a separate app (Android<\/a> | iOS<\/a>) for online water bill payments, which was made available to residents of Cairo, Giza, Menoufia, Beheira, Kafr El Sheikh, Sohag, Alexandria, Red Sea, Matrouh, and South Sinai as a first phase and will be rolled out across the rest of the country in later stages.<\/p>\n

The pandemic will likely push another 88-115 mn people \u2014 over 1.4% of the world\u2019s <\/strong>population \u2014 into extreme poverty in 2020<\/strong>, setting us back to 2017-era levels of poverty, the World Bank<\/a> said on Wednesday. The proportion of the global population living on less than USD 1.90 a day is expected to increase for the first time in two decades, hitting 9.1-9.4%. Pre-covid forecasts had the rate falling to 7.9% this year.<\/p>\n

Meanwhile, the UN World Food Programme <\/strong>has been awarded<\/a><\/strong> the 2020 Nobel <\/strong>Peace Prize<\/strong> \u201cfor its efforts to combat hunger, for its contribution to bettering conditions for peace in conflict-affected areas, and for acting as a driving force to prevent the use of hunger as a weapon of war and conflict.\u201d<\/p>\n

The Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel <\/strong>will be announced tomorrow.<\/p>\n

Davos 2021 won\u2019t be held in Davos:<\/strong> The 2021 World Economic Forum (WEF) will take place in Lucerne, Switzerland instead of its usual hub Davos, the forum announced<\/a> on Wednesday. The WEF had already been forced<\/a> to push the summit to early summer due to covid-19 and announced last week that it will take place on 18-21 May in the lakeside town. A virtual \u201cDavos Dialogues\u201d meeting will take place during the week of 25 January.<\/p>\n

\n

HSBC thinks it\u2019s time for a \u201cgreat rebalancing\u201d of investor portfolios<\/strong>, including moving away from government bonds and diversifying into commodities such as gold and inflation-linked bonds amid signs that the global recovery is starting to slow, CNBC<\/a>reports, citing HSBC Global Asset Management\u2019s quarterly outlook.<\/p>\n

The US stock market\u2019s biggest rally in three months has left analysts scratching <\/strong>their heads:<\/strong> The S&P 500 climbed 7.4% this past week, leaving observers struggling to explain the market\u2019s buoyancy in the face of a pandemic and a presidential election, Bloomberg<\/a>reports. Pundits have pointed to possible explanations, including an expected presidential victory for the Democrats, investors remaining in \u201cbuying mode\u201d as equity purchases remain tried and true with stable yields thanks to Fed support, and indexes bouncing back from tech-led tumbles in September.<\/p>\n

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

Saudi\u2019s sovereign wealth fund is looking to snap up an undisclosed stake in Abu <\/strong>Dhabi-based retailer <\/strong>Lulu Group<\/strong> and is in early-stage talks with founder Yusuff Ali, according to Hapi Journal<\/a>, citing two sources close to the talks. One of the Middle East\u2019s largest retailers, Lulu is already a significant investor in Egypt<\/strong> and plans to spend USD 1 bn<\/a> to expand its operations here over the next three years.<\/p>\n

US ELECTION WATCH- The Donald made his first public appearance yesterday since his<\/strong> covid-19 diagnosis<\/strong>, addressing supporters at the White House ahead of an anticipated return to the campaign trail this week, Reuters<\/a> reports. King Cheeto\u2019s physician said he is no longer a transmission risk, but stopped short of giving details of his current medical condition.<\/p>\n

The second presidential debate between Trump and challenger Joe Biden has been <\/strong>scrapped <\/strong>after Trump balked at squaring off virtually, the AP reports<\/a>.<\/p>\n

Meanwhile, the White House-proposed USD <\/strong>1.8 tn<\/strong> stimulus package fell flat at the<\/strong> House of Representatives<\/strong>, dashing hopes that Congress could pass aid before the November elections, reports the Financial Times<\/a>. Despite almost doubling an amount Republicans proposed in late summer, the new package falls short of a USD 2.2 tn bill Democrats previously passed, leaving both camps unhappy, says CNBC<\/a>.<\/p>\n

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

Meet Chris Khalifa, CEO and founder of Zooba, the first guest on season three of Making <\/strong>It, our podcast on how to build a great business in Egypt: <\/strong>Khalifa created Zooba with the aim of elevating Egyptian street food into a culinary export. With seven branches across Cairo, a New York outpost, and a franchise agreement to launch 20 branches in the GCC, the banker-by-training Khalifa turned an idea into a robust brand that has legs globally.<\/p>\n

You <\/strong>already have a podcast player on your iPhone<\/a><\/strong>, or you can listen to the episode through our website<\/a> (no download required). We\u2019re also on Google Podcast<\/a> | Anghami<\/a> | Omny<\/a>. Making It is on Spotify, but only for non-MENA accounts.<\/p>\n","protected":false},"excerpt":{"rendered":"

Good morning, friends, and welcome to a new workweek. We hope your long weekend was as relaxing as ours was. It\u2019s a light news day as we get back into the swing of things. Bonus: We have another long weekend the week after next as the nation observes the Prophet\u2019s Birthday on Thursday, 29 October. […]<\/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":[4322,107,6045,72,7115,272,1404,181,397,1567,2947,709,527,219,238,321,841],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-575273","post","type-post","status-publish","format-standard","hentry","category-what-were-tracking-today","tag-chris-khalifa","tag-covid-19","tag-david-malpass","tag-enterpriseam","tag-healthcare","tag-imf","tag-india","tag-insurance","tag-khaled-el-anany","tag-lulu-group","tag-making-it","tag-new-york","tag-pandemic","tag-saudi-arabia","tag-tourism","tag-world-bank","tag-zooba","wpautop","entry"],"acf":{"mongo_id":"f4b765e2-e37a-4e08-901b-a31852982d6b","is_powered_by":true,"story_type":"1","photo_url":"","photo_position":"above","related_issue":[575271],"teaser":"","voice_url":""},"yoast_head":"\nWhat we\u2019re tracking on 11 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\/11\/what-were-tracking-on-11-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 11 October 2020\" \/>\n<meta property=\"og:description\" content=\"Good morning, friends, and welcome to a new workweek. 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Prime Minister Moustafa Madbouly, Investment Minister Sahar Nasr, and Oil Minister Tarek El Molla are in the US capital to attend the meetings. The Egyptian delegation had a busy day yesterday with several sit-downs with international\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":557670,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/09\/28\/this-morning-oil-prices-at-three-year-high-high-stakes-negotiations-on-capitol-hill-china-power-crisis\/","url_meta":{"origin":575273,"position":1},"title":"THIS MORNING: Oil prices at three-year high; High-stakes negotiations on Capitol Hill; China power crisis;","author":"enterpriseam admin","date":"28 September 2021","format":false,"excerpt":"Good morning, wonderful people, and welcome to a Hump Day issue that feels a lot like the (relative) calm before the storm. It\u2019s a brisk but not hectic news morning, with the biggest story being covid, covid and still more covid: walk-in vaccination clinics are real, digital vaccination records are\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":625125,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/09\/27\/what-were-tracking-this-week-and-beyond-95\/","url_meta":{"origin":575273,"position":2},"title":"What we\u2019re tracking this week and beyond","author":"enterpriseam admin","date":"27 September 2018","format":false,"excerpt":"The African Development Bank (AfDB) will reportedly disburse the third and final USD 500 mn tranche of a USD 1.5 bn loan to Egypt \u201cwithin days.\u201dThe 2018 Narrative PR Summit will take place at the Four Seasons Nile Plaza on Sunday, 28 October with participants including friends ranging from the\u2026","rel":"","context":"In "Up Next"","block_context":{"text":"Up Next","link":"https:\/\/enterpriseam.com\/egypt\/category\/up-next\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":575235,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/10\/07\/what-were-tracking-on-7-october-2020\/","url_meta":{"origin":575273,"position":3},"title":"What we\u2019re tracking on 7 October 2020","author":"enterpriseam admin","date":"7 October 2020","format":false,"excerpt":"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\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":557637,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/09\/27\/this-morning-3q-is-almost-over-your-commute-is-going-to-get-worse-at-the-end-of-next-week-oil-prices-german-elections-washington-drama-lead-the-front-pages\/","url_meta":{"origin":575273,"position":4},"title":"THIS MORNING: 3Q is almost over; Your commute is going to get worse at the end of next week; oil prices, German elections + Washington drama lead the front pages.","author":"enterpriseam admin","date":"27 September 2021","format":false,"excerpt":"Good morning, nice people, and welcome to a particularly busy Monday \u2014 normally the quietest news morning of the week. Here at home, business leaders have clearly shaken the last of the Sahel sand out of their shoes \u2014 and we\u2019re all girding to see what fun the House of\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":638550,"url":"https:\/\/enterpriseam.com\/egypt\/2017\/10\/09\/what-were-tracking-this-week-112\/","url_meta":{"origin":575273,"position":5},"title":"What we\u2019re tracking this week","author":"enterpriseam admin","date":"9 October 2017","format":false,"excerpt":"A large Egyptian delegation will start trickling into Washington, DC, today and tomorrow for the IMF and World Bank annual fall meetings. The gatherings kick off today and run until 15 October. Among those attending are Investment Minister Sahar Nasr, Finance Minister Amr El Garhy, EGX chief Mohamed Farid and\u2026","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\/575273","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=575273"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/575273\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/575271"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=575273"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=575273"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=575273"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=575273"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=575273"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}