{"id":575357,"date":"2020-10-13T04:34:00","date_gmt":"2020-10-13T04:34:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2020\/10\/13\/what-were-tracking-on-13-october-2020\/"},"modified":"2020-10-13T04:34:00","modified_gmt":"2020-10-13T04:34:00","slug":"what-were-tracking-on-13-october-2020","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2020\/10\/13\/what-were-tracking-on-13-october-2020\/","title":{"rendered":"What we\u2019re tracking on 13 October 2020"},"content":{"rendered":"

Good morning<\/strong>, friends.<\/strong> It\u2019s hump day, and we have plenty of news to get you through the morning \u2014 and the promise of an Apple event tonight, wherein the faithful will be rewarded for their patience with a glimpse of the next iPhone. You can stream the show here<\/a> starting at 7pm CLT. Expectations are high: Apple shares are up<\/a> the most since July as traders expect big news.<\/p>\n

PSA- You now have until 21 November to get your electronic car stickers<\/strong> after the Interior Ministry decided to extend the deadline. The stickers \u2014 which are required for all vehicles \u2014 are attached to the windshield near the rearview mirror and include an RFID chip that allows authorities to read vehicle license information from a distance (and catch you if you run a red light or break the speed limit). All moroor units will now be open until 8pm, Ala Mas\u2019ouleety\u2019s Ahmed Moussa noted (watch, runtime: 6:21<\/a>).<\/p>\n

The IMF and World Bank\u2019s <\/strong>(virtual) annual meetings<\/a><\/strong> continue this morning <\/strong>and will likely make headlines, if only for the release later today of the IMF\u2019s <\/strong>World Economic Outlook<\/a><\/strong>.<\/p>\n

The G20<\/strong> could agree this week to a six-month extension of its debt relief initiative <\/strong>as a \u201ccompromise\u201d with the World Bank and IMF, which are pushing for a one-year extension, World Bank President David Malpass told reporters<\/a> at the institutions\u2019 virtual annual meetings<\/a>, which kicked off yesterday. Lender countries earlier this year allowed 73 of their poorest debtors to postpone payment of 2020 dues, but only 43 of the countries have applied for debt suspension, delaying only half of a USD 11.5 bn collectively owed. The debt service relief initiative also doesn\u2019t cover private sector creditors such as banks, and only three countries have applied for debt relief, which has not yet been granted, from their private lenders, the IMF says, according to the Financial Times<\/a>. Egypt <\/strong>is not on the list<\/a><\/strong> of countries eligible for debt relief.<\/strong><\/p>\n

T<\/strong>he IMF is also pushing for the World Bank and bilateral donors to hand out grants to <\/strong>struggling African economies<\/strong>, IMF Managing Director Kristalina Georgieva said at the FT Africa summit yesterday, according to Reuters<\/a>.<\/p>\n

<\/a> Are you ready to say goodbye to your share of <\/strong>USD 100 bn-worth of international tax <\/strong>loopholes?<\/strong> Tax authorities around the world could reel in an additional USD 100 bn in revenues if a draft of a new corporate taxation system proposed by the Organisation for Economic Cooperation and Development sees the light, the Financial Times<\/a> reports. The system, which can be implemented as early as next year if a political agreement is reached, would require companies to pay taxes on profits where they operate instead of shifting them to low tax jurisdictions. It would also include the implementation of a minimum corporate tax rate, and would oblige companies to pay a portion of their tax in the locations where their customers are located, even if they sell remotely.<\/p>\n

\n

The Health Ministry reported 132 new covid-19 infections yesterday<\/strong>, up from 129 the day before. Egypt has now disclosed a total of 104,648 confirmed cases of covid-19. The ministry also reported 10 new deaths, bringing the country\u2019s total death toll to 6,062. We now have a total of 97,743 confirmed cases that have fully recovered.<\/p>\n

<\/a> Egyptians are a bit less worried about their financial futures and are less reliant on <\/strong>charity <\/strong>to help them get through tough times brought on by the great covid-19 lockdown, according to a national survey by state statistics agency Capmas<\/a>. The agency found that more than 45% of respondents were \u201coptimistic about their incomes\u201d<\/strong> as they believe the \u201ccrisis is over.\u201d Nearly 32% of respondents expect their incomes will decline in the next three months, down from more than 48% when the results from the last survey were published in June<\/a>. A bit under 14% said they were relying on charity<\/strong> to help make ends meet, compared with more than 17% in June.<\/p>\n

Human trials of Russia\u2019s Sputnik V covid-19 vaccine have begun in the UAE<\/strong> amid continuing concerns over its efficacy and safety, CNBC<\/a>reports. The UAE is the second foreign country after Belarus to trial the vaccine, which was the first worldwide to receive regulatory approval last August. Russia\u2019s sovereign wealth fund last month agreed<\/a> with local distributor Pharco to provide a quarter of the Egyptian population with the vaccine. The news comes as Johnson & Johnson paused its vaccine trials<\/strong> after a participant developed an unexplained illness<\/a>.<\/p>\n

Covid-19 vaccines should be available to low-income countries at no charge<\/strong> and at reduced prices for middle-income countries once a vaccine candidate proves effective, Health Minister Hala Zayed said<\/a> while chairing a meeting of the World Health Organization Regional Committee for the Eastern Mediterranean<\/a>. The committee\u2019s ongoing session is underway in Cairo and due to wrap up today.<\/p>\n

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

The UK is shutting down pubs and bars in some parts of England as of tomorrow<\/strong> to curb a second wave of covid-19<\/strong> \u2014 a measure that Prime Minister Boris Johnson\u2019s top medical advisor thinks won\u2019t be enough to stop the rise in case numbers, according to Bloomberg<\/a>. The UK has reported more cases (160k+) between 27 September and 11 October than it did between March and September, Google\u2019s data compilation shows<\/a>.<\/p>\n

The first confirmed US case of reinfection with covid-19 could represent a \u201cblow to herd <\/strong>immunity,\u201d<\/strong> the Financial Times<\/a> suggests this morning.<\/p>\n

Auction theory thinkers win Nobel in economics: <\/strong>Stanford University professors Paul Milgrom and Robert Wilson were awarded the 2020 Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel<\/a> \u201cfor improvements to auction theory and inventions of new auction formats.\u201d Milgrom and Wilson studied the behavior of auction participants and used those findings to design better auction formats for goods and services that are tricky to sell in a conventional way. They designed the US\u2019 Federal Communications Commission auction<\/a> for radio frequencies which raised USD 120 bn when previously they were given away without charge. Auction outcomes affect daily life essentials such as electricity prices or the quality of mobile phone coverage, and the duo\u2019s theory will allow regulators and governments to maximize revenues, the Financial Times<\/a> says.<\/p>\n

ICYMI \u2014 check out this year\u2019s other Nobel laureates <\/strong>in Physics<\/a> | Chemistry<\/a> |<\/p>\n

Physiology or Medicine<\/a> | Literature<\/a> | Peace<\/a>.<\/p>\n

Turkey is stoking tensions with new EastMed seismic surveys:<\/strong> Turkish exploration vessel Oruc Reis has again set to sea to carry out seismic studies in a contested area of the Mediterranean in Greek waters, according to Bloomberg<\/a>. The Greek Foreign Ministry denounced Turkey\u2019s move as \u201ca major escalation and a direct threat to peace and security.\u201d The seismic survey is expected to run through 22 October and Turkey is also conducting separate seismic work off Cyprus through 9 November as the country pushes for a regional conference to discuss a fair divide of resources found in the EastMed.<\/p>\n

US ELECTION WATCH- US President Donald Trump has tested negative for covid-19 and<\/strong> is back on the campaign trail<\/strong> in the final rush to shore up support before the elections in three weeks, Reuters<\/a> reports. Democratic nominee Joe Biden is widening his lead over the incumbent in national opinion polls and some state polls, the newswire notes.<\/p>\n

Trade your USD for EUR as a Biden victory becomes more likely: <\/strong>Goldman Sachs strategists believe that the USD might weaken to 2018 levels if Biden comes out on top in the upcoming presidential election, according to Bloomberg<\/a>. A win by The Donald and a vaccine delay could see the most USD-positive outcome, writes strategist Zach Pandl.<\/p>\n","protected":false},"excerpt":{"rendered":"

Good morning, friends. It\u2019s hump day, and we have plenty of news to get you through the morning \u2014 and the promise of an Apple event tonight, wherein the faithful will be rewarded for their patience with a glimpse of the next iPhone. You can stream the show here starting at 7pm CLT. Expectations are […]<\/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":[380,984,92,72,260,381,498,91,127,218],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-575357","post","type-post","status-publish","format-standard","hentry","category-what-were-tracking-today","tag-currencies","tag-donald-trump","tag-eastern-mediterranean","tag-enterpriseam","tag-goldman-sachs","tag-greece","tag-joe-biden","tag-oil-and-gas","tag-politics","tag-turkey","wpautop","entry"],"acf":{"mongo_id":"368c8138-8c5b-4070-92f7-d588d6a36a92","is_powered_by":true,"story_type":"1","photo_url":"","photo_position":"above","related_issue":[575355],"teaser":"","voice_url":""},"yoast_head":"\nWhat we\u2019re tracking on 13 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\/13\/what-were-tracking-on-13-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 13 October 2020\" \/>\n<meta property=\"og:description\" content=\"Good morning, friends. 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Citibank, JPMorgan, BNP Paribas, Natixis and Standard Chartered have all won mandates. We have more in this morning\u2019s Speed Round, below. The US Federal Reserve cut interest\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":568325,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/12\/27\/what-were-tracking-on-26-december-2020\/","url_meta":{"origin":575357,"position":1},"title":"What we\u2019re tracking on 26 December 2020","author":"enterpriseam admin","date":"27 December 2020","format":false,"excerpt":"Good morning, friends, and welcome to the final week of 2020. We hope those of you who celebrate had a wonderful weekend with family and friends.The accelerating second wave of covid-19 dominates the news agenda here at home, overshadowing the Central Bank of Egypt\u2019s decision to leave interest rates 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":568366,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/12\/28\/what-were-tracking-on-28-december-2020\/","url_meta":{"origin":575357,"position":2},"title":"What we\u2019re tracking on 28 December 2020","author":"enterpriseam admin","date":"28 December 2020","format":false,"excerpt":"It\u2019s t-minus four days until 2021 and New Year-itis is in full effect if the unprecedented volume of out-of-office replies we\u2019re receiving after we dispatch each morning\u2019s edition is anything to go by.The big news at home this morning: The merger of two of the nation\u2019s largest healthcare players \u2014\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":567848,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/12\/09\/what-were-tracking-on-9-december-2020\/","url_meta":{"origin":575357,"position":3},"title":"What we\u2019re tracking on 9 December 2020","author":"enterpriseam admin","date":"9 December 2020","format":false,"excerpt":"Good morning, wonderful people, and welcome to Wednesday, where the big news remains the rollout of Pfizer and BioNTech\u2019s covid-19 vaccine in the UK \u2014 the first widescale vaccination campaign with an internationally tested jab. The news dominates front pages across the globe this morning, from the Financial Times to\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":634792,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/01\/24\/apple-releases-the-homepod\/","url_meta":{"origin":575357,"position":4},"title":"Apple releases the HomePod","author":"enterpriseam admin","date":"24 January 2018","format":false,"excerpt":"In other miscellany worth noting this morning: Eleven Pacific Rim nations including Canada have agreed on a new version of the Trans-Pacific Partnership trade agreement a year after Donald Trump pulled the US out of the pact, the Wall Street Journal reports.The 2018 Oscar nominations are out, with \u201cadult fairytale\u201d\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\/1\/626.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":558467,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/08\/11\/this-morning-cabinet\/","url_meta":{"origin":575357,"position":5},"title":"THIS MORNING: Cabinet","author":"enterpriseam admin","date":"11 August 2021","format":false,"excerpt":"Good morning, friends, and welcome to the final business day of the week. We\u2019re heading into our last long weekend until October, so we hope you plan to enjoy every minute of it.Startups are getting some very public love from cabinet, with Prime Minister Mostafa Madbouly and International cooperation minister\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":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/575357","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=575357"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/575357\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/575355"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=575357"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=575357"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=575357"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=575357"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=575357"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}