{"id":575627,"date":"2020-10-21T04:02:32","date_gmt":"2020-10-21T04:02:32","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2020\/10\/21\/what-were-tracking-on-21-october-2020\/"},"modified":"2020-10-21T04:02:32","modified_gmt":"2020-10-21T04:02:32","slug":"what-were-tracking-on-21-october-2020","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2020\/10\/21\/what-were-tracking-on-21-october-2020\/","title":{"rendered":"What we\u2019re tracking on 21 October 2020"},"content":{"rendered":"

All anyone is talking about this morning is \u2026 the weather. <\/strong>Heck, we know folks who have canceled vacation days because of it. (In fact, some of us may be those people\u2026)<\/p>\n

We\u2019ve got a six-day stretch of bad weather ahead of us, with rainfall expected to peak on<\/strong> Friday<\/strong>, head of the Irrigation Ministry\u2019s planning department Iman Sayed told Masaa DMC\u2019s Ramy Radwan last night. The weather should end on Sunday, but floods are expected in Sinai\u2019s mountainous and desert areas, she said (watch, runtime: 11:21<\/a>).<\/p>\n

Don\u2019t panic, though:<\/strong> It\u2019s not expected to be as bad as March\u2019s \u201cdragon storm<\/a>,\u201d director of the Egyptian Meteorological Authority\u2019s forecast center Mahmoud Shahin told Al Hayah Al Youm\u2019s Mohamed Sherdy (watch, runtime: 4:08<\/a>).<\/p>\n

Oh, and our favorite weather app? <\/strong>It\u2019s calling for clear skies for the next 10 days. Still: Let\u2019s<\/a>be careful out there.<\/a><\/p>\n

But if there is a deluge? National and government schools could get a day off on <\/strong>Saturday<\/strong> if heavy rainfall calls for it Cabinet spokesperson Nader Saad told Ala Mas\u2019ouleety\u2019s Ahmed Moussa (watch, runtime: 10:48<\/a>).<\/p>\n

<\/a> Meanwhile, some very nice news courtesy of our friends at the central bank:<\/strong> Foreign holdings of Egyptian treasury bills ticked up for the third consecutive month in August, edging up to USD 13.3 bn from USD 10.8 bn in July, according to the CBE\u2019s latest monthly statistical bulletin<\/a> (pdf \u2014 pp. 113, table 38). Net inflows increased in June for the first time since February, and continued on an upward trajectory in July<\/a>, suggesting foreign investors have chilled out after having exited Egypt during a wider flight from emerging markets early during the pandemic.<\/p>\n

\n

Voters abroad begin casting their ballots today to elect a new House of Representatives<\/strong>, kicking off the multi-stage process that will see the first wave of voters at home going to polling stations this coming Saturday (24 October).<\/p>\n

If you\u2019re voting here at home, you can find your polling station<\/strong> by putting your national ID number on the National Elections Authority\u2019s website<\/a>.<\/p>\n

Furniture expo <\/strong>Le March\u00e9<\/a><\/strong> begins tomorrow<\/strong> and will run until Sunday, 25 October at the Egypt International Exhibition Center.<\/p>\n

AmCham Egypt, AmCham Cyprus, and AmCham Greece are signing a trade, investment,<\/strong> and business promotion MoU<\/strong> today at 2pm CLT. US Ambassador to Egypt Jonathan Cohen and the US Chamber of Commerce\u2019s Executive Vice President Myron Brilliant are expected to speak at the event. You can watch the signing of the agreement via a live broadcast here<\/a>.<\/p>\n

The Gouna Film Festival kicks off on Friday<\/strong> and wraps at the end of the month. Variety<\/a> suggests this year\u2019s iteration of the festival will mark a new beginning for Middle Eastern cinema post-covid.<\/p>\n

Three things to keep on your radar:<\/strong><\/p>\n

#1- For bankers and PE types: ADQ. <\/strong>That\u2019s the Abu Dhabi investment firm that\u2019s been making a splash in the past month with investments real and rumored in Egypt and the wider region. It now wants to set up a digital bank<\/strong> and has acquired a license<\/a> to do just that from First Abu Dhabi Bank.<\/p>\n

#2- Could you fully audit your staff\u2019s interaction with a client? <\/strong>Probably not, given how much of it happens on channels like WhatsApp, where you have exactly zero visibility. We\u2019re half a decade behind the west on how to regulate stuff like this, as underscored by the recent firing of two top commodities traders at Morgan Stanley. The firing offense? <\/strong>Using WhatsApp to talk to clients<\/a><\/strong> \u2014 even though a probe found no evidence they did anything wrong on El Whats.<\/p>\n

#3- For the iSheep among us, reviews of the new iPhones are trickling out.<\/strong> Well, half of the new iPhones: The iPhone 12 and iPhone 12 Pro are out now, but the iPhone 12 mini and the iPhone 12 Pro Max will only follow next month (thank you, covid). We suggest you start with TechCrunch boss Matt Panzarino\u2019s piece<\/a>, then check out Joanna Stern\u2019s take at the WSJ<\/a>.<\/p>\n

enterprise<\/p>\n

Volkhard Windfuhr, t<\/strong>he dean of foreign correspondents in Egypt, passed away on<\/strong> Monday aged 83<\/strong> after a long illness, according to an emailed statement<\/a> from the State Information Service. Volkhard was without question the longest-serving foreign correspondent in Egypt \u2014 and probably the wider Arab world \u2014 and was simply a dude. Volkhard moved to Cairo as a kid when his widowed mother took a teaching job here in the early 1950s, and he graduated high school with a working knowledge of Arabic that he perfected over the following years. He was with German magazine Spiegel since the 1970s, reporting on everything from Sadat\u2019s trip to Jerusalem to 9\/11 by way of the civil war in Lebanon and the downfall of the shah in Iran. The head of the Foreign Press Association since 1994, Volkhard was awarded the First Class Order of Merit last year<\/a> by President Abdel Fattah El Sisi and Germany\u2019s Federal Cross of Merit in 2002. His funeral is today at the German Cemetery in Old Cairo.<\/p>\n

\n

The Health Ministry <\/strong>reported<\/a><\/strong> 158 new covid-19 infections yesterday<\/strong>, up from 123 the day before. Egypt has now disclosed a total of 105,705 confirmed cases of covid-19. The ministry also reported 12 new deaths, bringing the country\u2019s total death toll to 6,142. We now have a total of 98,413 confirmed cases that have fully recovered.<\/p>\n

The Sisi administration has lined up sufficient doses of potential covid-19 vaccines to <\/strong>ensure that it can rapidly vaccinae a fifth of the population<\/strong>, including healthcare workers and people with chronic illnesses, including heart disease and compromised immune systems, presidential health advisor Mohamed Awad Tag Eldin said yesterday, according to Al Mal<\/a>. Russia\u2019s sovereign wealth fund said last month<\/a> that it alone would provide its Sputnik V vaccine to around a quarter of the population.<\/p>\n

Weekly charter flights from Spain to Luxor could be up and running by the end of<\/strong> the year<\/strong>. The group is also reportedly looking<\/a> to set up flights that will take travelers from Aswan to Cairo as part of a week-long tour of Egypt.<\/p>\n

Travelers from Canada, Tunisia and Georgia might soon be unable to travel to the<\/strong> EU<\/strong> as Brussels considers shrinking its travel whitelist to just nine countries, Bloomberg<\/a> reports, citing EU officials.<\/p>\n

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

T<\/strong>he US filed an antitrust lawsuit against Google yesterday<\/strong>, targeting the tech giant\u2019s search advertising business in the most significant antitrust action in the US in at least two decades. While being a monopoly is not in itself illegal in the US, critics argue Google\u2019s search engines, and its Android mobile operating system, give it unfair advantages over rivals. The case is the first in what is shaping up to be a series of antitrust actions that also target Apple, Facebook, and Amazon: Japan<\/a><\/strong> is working on a new way to regulate the \u201cGAFA\u201d companies (Google, Amazon, Facebook and Apple) and <\/strong>the UK<\/a><\/strong> could investigate Google and Facebook next year.<\/strong><\/p>\n

The story leads headlines in much of the foreign press:<\/strong> Bloomberg<\/a> | Financial Times<\/a> | Washington Post<\/a> | New York Times<\/a> | Associated Press<\/a> | Reuters<\/a>.<\/p>\n

Silicon Valley-based fintech company <\/strong>MagicCube<\/a><\/strong> \u2014 founded by Egyptian power couple <\/strong>Nancy Zayed and Sam Shawki \u2014 has <\/strong>unveiled<\/a><\/strong> their new product<\/strong>, i-Accept<\/strong>, which acts as a software-based replacement for traditional payment terminals. The product paves the way for increased financial inclusion and contactless payments by providing smaller merchants a cheaper alternative to buying and subsidizing the single-function card acceptance hardware devices. The application is currently functioning on Android and supports American Express, Discover, Mastercard and Visa. You can request a demo here<\/a>.<\/p>\n

You can learn more about MagicCube and the company\u2019s awesome founders in an <\/strong>upcoming episode of Making It<\/strong>, our podcast on how to build a great business in Egypt.<\/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>Part two of our series on the Giza Pyramids Plateau\u2019s development looks at what it took to develop the infrastructure of the area.<\/p>\n","protected":false},"excerpt":{"rendered":"

All anyone is talking about this morning is \u2026 the weather. Heck, we know folks who have canceled vacation days because of it. (In fact, some of us may be those people\u2026) We\u2019ve got a six-day stretch of bad weather ahead of us, with rainfall expected to peak on Friday, head of the Irrigation Ministry\u2019s […]<\/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":[413,107,72,7192,297,290,183,819,1659,7128,3335,1317,91,527,2436,234,351],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-575627","post","type-post","status-publish","format-standard","hentry","category-what-were-tracking-today","tag-canada","tag-covid-19","tag-enterpriseam","tag-eu","tag-europe","tag-financial-inclusion","tag-fintech","tag-fuel","tag-jamal-khashoggi","tag-ma-watch","tag-magiccube","tag-mohammed-bin-salman","tag-oil-and-gas","tag-pandemic","tag-singapore","tag-travel","tag-tunisia","wpautop","entry"],"acf":{"mongo_id":"d371534e-2715-4bcd-aa06-b809a5debb26","is_powered_by":true,"story_type":"1","photo_url":"","photo_position":"above","related_issue":[575625],"teaser":"","voice_url":""},"yoast_head":"\nWhat we\u2019re tracking on 21 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\/21\/what-were-tracking-on-21-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 21 October 2020\" \/>\n<meta property=\"og:description\" content=\"All anyone is talking about this morning is \u2026 the weather. 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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 "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\/11\/369.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":628358,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/05\/02\/expect-hot-and-dusty-weather-to-continue-today\/","url_meta":{"origin":575627,"position":1},"title":"Expect hot and dusty weather to continue today","author":"enterpriseam admin","date":"2 May 2018","format":false,"excerpt":"PSA- Expect hot and dusty weather to continue today across the country. The aftermath of a sandstorm that hit parts of Egypt on Monday, affecting visibility and closing several highways in the south, is expected to last until Friday, which will see the week\u2019s highest temperature at 40\u00b0C, the national\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\/206.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":639320,"url":"https:\/\/enterpriseam.com\/egypt\/2017\/10\/26\/are-you-ready-for-christmas-in-october\/","url_meta":{"origin":575627,"position":2},"title":"Are you ready for Christmas in October?","author":"enterpriseam admin","date":"26 October 2017","format":false,"excerpt":"WEATHER- It looks like it is going to rain today in Cairo, even though temperatures are still expected to break north of 30\u00b0C.Don\u2019t let the weather get you down \u2014 tomorrow is still looking an awful lot like Christmas: The new Assassin\u2019s Creed: Origins is out tomorrow. It\u2019s set in\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":632290,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/02\/07\/what-were-tracking-this-week-57\/","url_meta":{"origin":575627,"position":3},"title":"What we\u2019re tracking this week","author":"enterpriseam admin","date":"7 February 2018","format":false,"excerpt":"Sudan and Egypt\u2019s foreign ministers and intelligence service chiefs will meet in Cairo tomorrow to resolve \u201coutstanding issues\u201d between Cairo and Khartoum. The Pyeongchang Olympics open on Friday. Norway, Canada and the United States are broadly expected to top the overall medal standings, with Germany forecast to take home the\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":[]},{"id":630588,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/04\/26\/what-were-tracking-on-26-april-2018\/","url_meta":{"origin":575627,"position":4},"title":"What we\u2019re tracking on 26 April 2018","author":"enterpriseam admin","date":"26 April 2018","format":false,"excerpt":"Bad news on which to close the week: After rain and flooding Tuesday night and yesterday, the national weather service is warning that we can expect \u201cunstable weather\u201d to continue today in Cairo,with torrential rain forecast for some areas of country. Look for a high temperature of 30\u00b0C in Cairo\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\/4\/1848.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":628616,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/05\/09\/egyptian-indie-film-yomeddine-premieres-at-71st-cannes-film-festival-today\/","url_meta":{"origin":575627,"position":5},"title":"Egyptian indie film Yomeddine premieres at 71st Cannes Film Festival today","author":"enterpriseam admin","date":"9 May 2018","format":false,"excerpt":"We\u2019re beaming with pride this morning because Egyptian indie film Yomeddine premieres today at the 71st Cannes Film Festival. Yomeddine will compete in the prestigious event for the Palme d\u2019Or \u2014 the highest prize awarded at the annual festival. Directed by first-time Egyptian-Austrian filmmaker Abu Bakr Shawky, Yomeddine follows the\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\/532.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\/575627","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=575627"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/575627\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/575625"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=575627"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=575627"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=575627"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=575627"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=575627"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}