{"id":575319,"date":"2020-10-12T03:43:07","date_gmt":"2020-10-12T03:43:07","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2020\/10\/12\/what-were-tracking-on-12-october-2020\/"},"modified":"2020-10-12T03:43:07","modified_gmt":"2020-10-12T03:43:07","slug":"what-were-tracking-on-12-october-2020","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2020\/10\/12\/what-were-tracking-on-12-october-2020\/","title":{"rendered":"What we\u2019re tracking on 12 October 2020"},"content":{"rendered":"

Mondays are typically the quietest news day of the week<\/strong>, and today is no exception. So a pro tip for those of you out there with news to break: Liven up our Mondays by feeding us a big, juicy news tip on a Thursday or Sunday, please? Pretty please?<\/p>\n

Food for thought as this covid thing continues: <\/strong>\u201cWork can feel tough for everyone right now, but the right thoughtful gestures from the boss can give employees the boost they need,\u201d the Wall Street Journal suggests<\/a>. Whether you\u2019re a boss working from home, on some kind of hybrid system or just dealing with the covid-in-fall blues, this one is worth reading.<\/p>\n

\n

<\/a> The IMF and World Bank\u2019s (virtual) <\/strong>annual meetings<\/a><\/strong> kick off later today<\/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.<\/p>\n

World Bank boss David Malpass praised Egypt\u2019s effort to mitigate economic fallout from <\/strong>covid-19<\/strong>, including our EGP 100 bn stimulus package, during an introductory event ahead of the meetings, reports Ahram Online<\/a>.<\/p>\n

The meetings come as the global economy\u2019s recovery from the covid-19 shock is<\/strong> both frail and uneven<\/strong>, with emerging economies faring significantly worse than advanced economies, according to the latest Brookings-FT Tiger index. Economic data from around the world is now weaker than it has been at any previous recession since the index started tracking global economic recovery, says the Financial Times<\/a>. This \u201cprecarious outlook\u201d will likely be the predominant theme of the annual meetings.<\/p>\n

Keep an eye out for the October update of the IMF\u2019s <\/strong>World Economic Outlook<\/a><\/strong>, which is due to be released in full tomorrow.<\/p>\n

On a related note: Look for corporate earnings in major western markets to be in the tank<\/strong> as we kick off 3Q earnings season. <\/strong>The Financial Times<\/a> and Wall Street Journal<\/a> are putting lipstick on the proverbial pig as they cheer projected earnings declines that are just slightly better than originally forecast.<\/p>\n

And it could get worse as we gird for the return of the Zombie apocalypse in a new guise:<\/strong> Axios<\/a> quite presciently warns that market watches should be prepared for a wave of US bankruptcies and insolvencies when the Trump administration and the Federal Reserve withdraw their covid measures. Zombie firms kept on life support by emergency fiscal and monetary policies are going to come under plenty of pressure.<\/p>\n

\n

<\/a> TRIAL BALLOON- Egyptian citizens may be required to show proof of health insurance <\/strong>when <\/strong>apply<\/strong>ing for<\/strong> a passport<\/strong> after Financial Regulatory Authority Deputy Chairman Reda Abdel Moaty floated the idea at the Regional Forum for Medical Insurance and Healthcare that kicked off yesterday, according to Hapi Journal<\/a>. Insurance would have to be proven valid for the entire period a passport is valid<\/strong>, under Abdel Moaty\u2019s proposal.<\/p>\n

The foreign ministers of Jordan and Iraq will be in town tomorrow for talks with Foreign<\/strong> Minister Sameh Shoukry<\/strong> on unspecified agreements signed in Amman last August, Iraqi state news agency Assabah<\/a> reported. The Iraqi delegation will also be sitting down with Egyptian officials to organize a meeting of Egypt and Iraq\u2019s prime ministers in Baghdad soon.<\/p>\n

Meanwhile, rival Libyan factions are due to wrap tomorrow political consultations here in<\/strong> Cairo <\/strong>on charting a \u201cconstitutional path\u201d <\/strong>towards a political settlement and presidential and parliamentary elections in the civil war-torn country, according to a local press report and a report by the State Information Service<\/a>. The talks pave the way for UN-led efforts to launch a Libyan Political Dialogue Forum, which will feature<\/a> virtual meetings starting 26 October, and face-to-face talks next month in Tunisia.<\/p>\n

Three direct Alexandria-Dubai flights are now on national flag carrier EgyptAir\u2019s<\/strong> weekly flight schedule<\/strong>, Dubai\u2019s airport said in a statement carried by Mubasher<\/a>.<\/p>\n

\n

The Health Ministry <\/strong>reported<\/a><\/strong> 129 new covid-19 infections yesterday<\/strong>, up from 125 the day before. Egypt has now disclosed a total of 104,516 confirmed cases of covid-19. The ministry also reported 11 new deaths, bringing the country\u2019s total death toll to 6,052. We now have a total of 97,688 confirmed cases that have fully recovered.<\/p>\n

The virus that causes covid-19 can live for weeks on banknotes, glass, and other common surfaces<\/strong>, according to research by the Australian Centre for Disease Preparedness picked up by Bloomberg<\/a>. The virus remains infectious on these surfaces for 28 days, compared to 17 days for the virus that causes the regular flu. The research also found that warm temperatures kill the virus faster<\/strong> \u2014 just in time for the winter season.<\/p>\n

Inhaled covid-19 vaccines may prove superior to injections: <\/strong>Researchers in the US, UK, and Hong Kong are developing inhaled vaccines as a potentially more effective covid-19 treatment than conventional jabs, according to Bloomberg<\/a>. The theory is that by targeting the nose and mouth, inhaled vaccines stand a better chance of preventing infection than injections, which scientists still aren\u2019t sure can protect people from the virus.<\/p>\n

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

The year\u2019s biggest banking M&A just happened in KSA: <\/strong>Saudi\u2019s National Commercial Bank (NCB) agreed to buy out rival Samba Financial Group for USD 15 bn, according to Bloomberg<\/a>. NCB will now be the Gulf\u2019s third-largest lender with more than USD 220 bn in assets and a market capitalization of USD 46 bn.<\/p>\n

iSheep will be looking forward to the unveiling of <\/strong>as many as <\/strong>four new iPhones<\/a><\/strong> at Apple\u2019s virtual \u201cHi, Speed\u201d event tomorrow, which you can stream live here<\/a>. Expect it to be the \u201cmost significant iPhone event in years,\u201d CNBC<\/a> says. Meanwhile, Nikon and Fujifilm are unveiling mirrorless cameras<\/strong> this week: Nikon\u2019s much-awaited ZG II and Z7 II cameras should make their debut on Wednesday and Fujifilm\u2019s X-S10 midrange mirrorless camera \u2014 which was leaked over the weekend<\/a> \u2014 will also be unveiled this week.<\/p>\n

And for the squash geeks among you: <\/strong>The CIB Egyptian Squash Open, which kicked off on Saturday, runs until next 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

enterprise<\/p>\n

Elsewhere in racket sports: Rafael Nadal won his 20th Grand Slam men\u2019s singles<\/strong> title yesterday<\/strong>, beating Serbian rival Novak Djokovic at Roland Garros, reports Reuters<\/a>. The Spanish star \u2014 widely hailed as the king of clay courts \u2014 is now tied with Roger Federer for major tennis titles after handing a resounding defeat to Djokovic at the French Open.<\/p>\n

Also from planet sports: The LA Lakers <\/strong>beat the Miami Heat yesterday<\/a><\/strong> to clinch the 2020 <\/strong>NBA Championship title<\/strong> \u2014 their 17th championship to date and their first NBA title since 2010. Yesterday\u2019s win ties the Lakers with the Boston Celtics for the most NBA titles in the league\u2019s history. LeBron James was also named the NBA Finals MVP for the fourth time in his career.<\/p>\n

enterprise<\/p>\n

*** 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

In today\u2019s issue:<\/strong> We look at the regulations and resources that Egypt needs for its push towards fully-online degrees to be successful.<\/p>\n","protected":false},"excerpt":{"rendered":"

Mondays are typically the quietest news day of the week, and today is no exception. So a pro tip for those of you out there with news to break: Liven up our Mondays by feeding us a big, juicy news tip on a Thursday or Sunday, please? Pretty please? Food for thought as this covid […]<\/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":[107,163,928,72,2108,1304,1455,185,338,219,238,897,4200],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-575319","post","type-post","status-publish","format-standard","hentry","category-what-were-tracking-today","tag-covid-19","tag-dubai","tag-employment","tag-enterpriseam","tag-etfs","tag-gcc","tag-north-korea","tag-pmi","tag-retail","tag-saudi-arabia","tag-tourism","tag-wall-street","tag-wells-fargo","wpautop","entry"],"acf":{"mongo_id":"0495c329-62e8-4440-a9b5-2bdfb26fe4ec","is_powered_by":true,"story_type":"1","photo_url":"","photo_position":"above","related_issue":[575317],"teaser":"","voice_url":""},"yoast_head":"\nWhat we\u2019re tracking on 12 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\/12\/what-were-tracking-on-12-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 12 October 2020\" \/>\n<meta property=\"og:description\" content=\"Mondays are typically the quietest news day of the week, and today is no exception. 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Mondays are typically the slowest news days of the week, but not so today \u2014 we have plenty going on.IT\u2019S A BIG DAY FOR: Our covid-19 vaccine rollout. Yesterday, we reported that it seems unlikely we\u2019re going to be getting anytime soon the 5 mn 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":599262,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/06\/24\/what-were-tracking-on-24-june-2019\/","url_meta":{"origin":575319,"position":1},"title":"What we\u2019re tracking on 24 June 2019","author":"enterpriseam admin","date":"24 June 2019","format":false,"excerpt":"Don\u2019t be fooled by the comparative quiet of this morning \u2014 we\u2019re in the midst of a busy news cycle, and Mondays are always \u201cslow\u201d news morning. Driving the conversation today: UK trade envoy Sir Jeffrey Donaldson is in town for two-day visit. He\u2019s accompanied by two UK healthcare companies.\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":629140,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/05\/23\/todays-recommended-ramadan-reading\/","url_meta":{"origin":575319,"position":2},"title":"Today\u2019s recommended Ramadan reading","author":"enterpriseam admin","date":"23 May 2018","format":false,"excerpt":"Today\u2019s recommended Ramadan reading: Getting old is inevitable. Becoming crusty, grumpy and unable to cope with change isn\u2019t. That\u2019s the take-home from the Wall Street Journal\u2019s Sue Shellenbarger, whose advice to the olds are words to live by: \u201cWould your boss hire you again with the skills you have now?\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\/2018\/5\/770.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":599824,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/01\/13\/what-were-tracking-on-13-january-2019\/","url_meta":{"origin":575319,"position":3},"title":"What we\u2019re tracking on 13 January 2019","author":"enterpriseam admin","date":"13 January 2019","format":false,"excerpt":"You want to pack this morning with nasty weather in mind. Depending on who you want to believe, we\u2019re looking at a cold (high of 16\u00b0C) and intermittently windy day that could bring with it a sand storm and \/ or rain.The 2019 investor conference season gets underway this morning\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":650594,"url":"https:\/\/enterpriseam.com\/egypt\/2017\/03\/28\/fearless-girl-gets-to-stay-on-wall-street-and-the-sculptor-of-the-bull-is-not-happy-at-all\/","url_meta":{"origin":575319,"position":4},"title":"\u201cFearless Girl\u201d gets to stay on Wall Street, and the sculptor of the Bull is not happy at all","author":"enterpriseam admin","date":"28 March 2017","format":false,"excerpt":"\u201cFearless Girl\u201d gets to stay on Wall Street, and the sculptor of the Bull is not happy at all. The statue, commissioned by fund manager State Street Global Advisors (press release) as part of its campaign to get more women on corporate boards and unveiled on International Women\u2019s Day, was\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\/2017\/3\/1169.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":632674,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/02\/18\/wall-street-finishes-best-week-in-years\/","url_meta":{"origin":575319,"position":5},"title":"Wall Street finishes best week in years","author":"enterpriseam admin","date":"18 February 2018","format":false,"excerpt":"So, is the correction over? The EGX30 gained 1.1% on Thursday and Wall Street on Friday \u201cfinished its best week in years as stocks staged a recovery from a tumultuous period that pushed major indexes into correction territory, a sign that bullish sentiment remained intact,\u201d the Wall Street Journal writes.\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\/2018\/2\/1216.png?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/575319","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=575319"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/575319\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/575317"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=575319"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=575319"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=575319"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=575319"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=575319"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}