{"id":576320,"date":"2020-11-19T04:00:34","date_gmt":"2020-11-19T04:00:34","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2020\/11\/19\/what-were-tracking-on-19-november-2020\/"},"modified":"2020-11-19T04:00:34","modified_gmt":"2020-11-19T04:00:34","slug":"what-were-tracking-on-19-november-2020","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2020\/11\/19\/what-were-tracking-on-19-november-2020\/","title":{"rendered":"What we\u2019re tracking on 19 November 2020"},"content":{"rendered":"

Well, friends, we made it through another week together. <\/strong>We have a packed issue for you this morning, including news of a IDH\u2019s potential listing on the EGX and ongoing worries about covid-19.<\/p>\n

<\/a> Egypt\u2019s second wave is looking more real by the day:<\/strong> Daily cases rose for the fourth<\/a>consecutive day yesterday<\/a> to 329, up from 275 the day before and the highest since 30 July. This came after Prime Minister Moustafa Madbouly warned during the weekly cabinet meeting<\/a> that the wave currently gripping other countries is \u201cmore dangerous and widespread\u201d<\/strong> than the first, and said that \u201cwork must be done\u201d to ensure Egypt doesn\u2019t fall into the same situation.<\/strong> He called on authorities to be more vigilant in cracking down on people caught violating anti-covid precautions and urged people to work from home wherever possible.<\/p>\n

We\u2019re using 20% of our available ventilators and 47% of our special care beds<\/strong>, Health Minister Hala Zayed said at the cabinet meeting<\/a> yesterday. The minister reiterated the WHO\u2019s warning about the long term health repercussions of covid-19, and said that those who had recovered from the virus would still be able to receive a vaccine once it becomes available since we\u2019re not yet sure how long a person stays immune after recovering.<\/p>\n

There is good news though: <\/strong>Pfizer and BioNTech's final vaccine results showed a 95% success rate with no short-term safety concerns, paving the way for the two companies to apply for emergency approval in the US and European Union in the coming days. Trials on adults aged over 65 showed a slightly lower efficacy rate of 94%, but still above the initial 90% reported last week<\/a>. The vaccine\u2019s effectiveness is just a hair above Moderna\u2019s preliminary 94.5% figure<\/a> and Russia\u2019s Sputnik V\u2019s 92%<\/a>. Both Moderna and Pfizer\u2019s vaccines are likely to be approved before the end of the year.<\/strong> The story made it to the front pages everywhere, from Reuters<\/a> and the Financial Times<\/a> to CNN<\/a> and the Guardian<\/a>.<\/p>\n

Chinese competitor Sinovac Biotech isn\u2019t enjoying such great results:<\/strong> Its creatively-named CoronaVac vaccine showed inconclusive results in its first two phases of clinical trials, generating a lower level of antibodies than seen in people who had been diagnosed with covid-19, the Wall Street Journal<\/a> reports.<\/p>\n

But reel in the excitement, as it will still be months before a large-scale rollout can <\/strong>begin \u2014 and even longer for the vaccine gets to countries like Egypt.<\/strong> Pfizer and BioNTech\u2019s vaccine is synthetic mRNA and needs to be stored at -70\u00b0C which is rarely available outside of (really) major hospitals in developed countries. And \u2014 as the WHO reminded us yesterday<\/a> \u2014 even if a vaccine is rolled out this winter, it\u2019s not going to save us from the current wave of infections<\/p>\n

This comes as Africa\u2019s covid-19 case count passes the 2 mn mark.<\/strong> While this represents just 4% of the cases reported globally, the figure is likely underestimating the extent of the outbreak on the continent, given the weaker testing capacity, Reuters<\/a> says.<\/p>\n

US stocks weren\u2019t impressed with the extra percentage points<\/strong>, focusing more on the surging case count and the new restrictions being introduced across the country. New York City took drastic action to contain the virus yesterday, re-closing schools across the city<\/a> and threatening to shutter all non-essential businesses. The Dow Jones and S&P 500 both fell 1.16% on the news, while the tech-heavy Nasdaq \u2014 so often a beneficiary of the pandemic \u2014 lost 0.8%. Bloomberg<\/a> and Reuters<\/a> have more.<\/p>\n

Asian shares were marginally down at the time of dispatch this morning<\/strong>, while the US markets are on course to open in the red later today.<\/p>\n

SPEAKING OF MARKETS: Emerging market stocks are going to be the equity play of 2021.<\/strong> Half of fund managers surveyed by the Bank of America said they would rather put their money in EM stocks than in oil or the S&P 500, the Financial Times<\/a> reports. Positive vaccine test results from Pfizer and Moderna have inspired a wave of confidence that saw EM equities climb 2.3% since the announcements, according to MSCI\u2019s emerging market index. \u201cThese results have likely removed some pessimism about the medium-term trajectory of the virus and its consequences on the global economy,\u201d said Barclays strategist Andreas Kolbe, adding that undervalued EM currencies and assets stand to gain from lower volatility.<\/p>\n

\n

Are we going to see a new wave of antitrust enforcement? <\/strong>Trade Minister Nevine Gamea directed the Egyptian Competition Authority\u2019s newly-appointed acting chairman, Ibrahim El Segeny<\/a>, to hold periodic meetings to \u201cswiftly\u201d address pending cases and reports of antitrust violations, the authority recently said<\/a>. The authority has already looked into cases in industries including pulp and paper, mobile phones, automotives, steel, and oil services during its first meeting last week, according to the statement, which did not specify what companies it is looking at.<\/p>\n

Candidates standing in runoff elections have been told to shush<\/strong> as voters return to the polls to settle the remaining 110 seats from the first round of voting for the House of Representatives held last month<\/a> in Giza and other governorates, reports Youm7<\/a>. Those voting abroad can head to the polls<\/a> today through Monday; voters at home can cast their ballots on Monday and Tuesday. The pro-government Mostaqbal Watan party has dominated proceedings so far<\/a>, putting it on course to take legislative control of the House, in addition to the Senate<\/a>.<\/p>\n

Meanwhile, our newly-elected Senate will vote on draft legislation setting its bylaws whe<\/strong>n <\/strong>it reconvenes on 29 November<\/strong>, Al Mal<\/a> reports. The 300-article bill would see the chamber vote on constitutional amendments and any bills referred to it by the House of Representatives or the president, and ratify international treaties.<\/p>\n

We could know more about Egypt\u2019s commodities exchange (Egycomex) next <\/strong>month<\/strong>, when a meeting to finalize trading guidelines and eligibility rules for commodity traders on the marketplace is scheduled, exchange Chairman Ibrahim Ashmawy said, according to Al Mal<\/a>. The exchange is expected to be up and running in the first half of 2021<\/a> and will launch with only wheat as a tradeable commodity.<\/p>\n

Airlines flying to Egypt\u2019s tourist hotspots will get a 50% discount on landing and <\/strong>docking fees<\/strong> as well as 20% off on-the-ground plane services, Civil Aviation Minister Mohamed Manar announced in the official gazette yesterday, Masrawy<\/a> reports. The discounts came into effect starting November and will continue for six months until the end of April. The decision applies to airlines flying to the Red Sea, Luxor, Aswan, South Sinai and Matrouh. Egypt is trying to resuscitate a tourism sector hammered by covid-19: Monthly tourism receipts have fallen almost 90%<\/a> this year.<\/p>\n

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

<\/a> Global debt is rising at a scary pace thanks to pandemic spending<\/strong>, increasing by USD 15 tn in just the first nine months of this year to hit a record USD 272 tn by the end of the third quarter, the Institute of International Finance said yesterday. This \u201ctsunami\u201d of debt is expected to hit USD 277 tn (365% of GDP) by the end of the year, raising \u201csignificant uncertainty\u201d about how the world will ever unwind it without causing a global economic shock, it said.<\/p>\n

Sudanese banks are on track to reconnect with the global financial system <\/strong>after spending years in isolation from foreign banks while the country remained on the US\u2019 state sponsor of terrorism list, Reuters<\/a> reports. Al Baraka Bank Sudan completed the country\u2019s first USD transaction in almost 20 years last month, Al Baraka Bank Egypt\u2019s general manager, Elrasheed Abdel Rahman Ali, said. The US is currently in the process of expunging Sudan from the list which would allow the country to re-establish ties with foreign banks.<\/p>\n

The Boeing 737 Max is airborne again:<\/strong> US regulators have cleared Boeing to use its 737 Max for passenger flights, ending a 1.5-year hiatus following two crashes that killed more than 300 people, the Wall Street Journal<\/a> reports.<\/p>\n

FOR THE iSHEEP AMONG US: Apple is slashing to 15% the commission it takes from <\/strong>most app developers<\/strong>, the company said in a statement<\/a> on Wednesday. Meanwhile, reviews of M1 chips just keep rolling in. You\u2019ll want to check out the Verge\u2019s take on the MacBook Air<\/a> and MacBook Pro<\/a>, while the hardcore will find lots in Om Malik\u2019s take<\/a> (he spoke with top Apple honchos) and Mac geek John Gruber\u2019s exhaustive look<\/a>.<\/p>\n

\n

Football star Mohamed Salah is staying in Egypt after he again tested positive for <\/strong>covid-19 yesterday<\/strong>, according to an Egyptian Football Association statement<\/a>. Salah would have been allowed to return to the UK today if the swab test had turned up negative, according to The Sun<\/a>. The Liverpool midfielder was hoping to play in Sunday\u2019s Liverpool vs Leicester match and requested he be tested earlier, an unnamed source close to Salah told Youm7<\/a>. He has been isolating in Egypt since it was announced this week<\/a> that he contracted the virus. Mohamed Elneny has also tested positive again<\/a>.<\/p>\n

Meanwhile, <\/strong>Ahmed Hassan Kouka became the third player to test positive for covid-19<\/strong>, the Egyptian Football Association said in a statement<\/a> on Wednesday.<\/p>\n

The foreign press is all over Mohamed Salah this morning<\/strong>, from the Associated Press<\/a> to Sky Sports<\/a>, as were the talk shows (Masaa DMC\u2019s Ramy Radwan was typical \u2014 watch, runtime: 10:25<\/a>).<\/p>\n

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

FROM THE DEPARTMENT OF KUDOS-<\/strong><\/p>\n

#1- <\/strong>Ten AUC professors have made it onto Stanford\u2019s list of the top 2% most-cited <\/strong>scientists<\/strong> in the world, the university said in a statement (pdf)<\/a>. A total of 396 Egyptian scientists made the list, Higher Education Ministry spokesperson Hossam Abd El Ghaffar told Al Hayah Al Youm\u2019s Lobna Assal last night (watch, runtime: 6:00)<\/a>.<\/p>\n

#2<\/strong> Egypt\u2019s tourism industry raked in the awards this week: Hilton Alexandria King's <\/strong>Ranch<\/strong> won a country award in the luxury family hotel category at the World Luxury Hotel Awards 2020<\/a> while Baron Palace Sahl Hasheesh<\/strong> received a country award in the Luxury Honeymoon Resort category.<\/p>\n

Egypt placed second in the 2020 DIVE Travel Awards for the second year in the row<\/strong>, trailing behind Indonesia as the world\u2019s best diving destination, according to Dive Magazine<\/a>. The Red Sea\u2019s Emperor Elite<\/a> ship won first place in the best liveaboard category, while Sharm El Sheikh\u2019s Elite Diving<\/a> and Sinai\u2019s Scuba Seekers<\/a> made the world\u2019s top 10 list of diving centers.<\/p>\n

\n

*** HOW HAS BLENDED LEARNING BEEN TREATING YOU SO FAR? Tell us what you <\/strong>think.<\/strong> We\u2019ve put together a quick survey asking parents and students how things are going on the blended front. We\u2019ll have the results in an upcoming issue of Blackboard. And as is our custom, we\u2019ll draw the names of three respondents who will receive an Enterprise mug and a bag of our favourite coffee from our friends at <\/strong>30 North<\/a><\/strong>.<\/strong><\/p>\n

Tap or click here to take the survey<\/a><\/strong>.<\/strong> It\u2019s quick and painless, we promise.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Well, friends, we made it through another week together. We have a packed issue for you this morning, including news of a IDH\u2019s potential listing on the EGX and ongoing worries about covid-19. Egypt\u2019s second wave is looking more real by the day: Daily cases rose for the fourthconsecutive day yesterday to 329, up from […]<\/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":[817,169,204,107,2319,72,358,378,146,127,392,162,877,126],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-576320","post","type-post","status-publish","format-standard","hentry","category-what-were-tracking-today","tag-agility-logistics","tag-auc","tag-banking","tag-covid-19","tag-egyptian-commodities-exchange","tag-enterpriseam","tag-mohamed-salah","tag-national-telecom-regulatory-authority","tag-pfizer","tag-politics","tag-senate","tag-sports","tag-sputnik-v","tag-sudan","wpautop","entry"],"acf":{"mongo_id":"dc3a3a2e-ab0c-4bac-ac15-fc1e45735533","is_powered_by":true,"story_type":"1","photo_url":"","photo_position":"above","related_issue":[576318],"teaser":"","voice_url":""},"yoast_head":"\nWhat we\u2019re tracking on 19 November 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\/11\/19\/what-were-tracking-on-19-november-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 19 November 2020\" \/>\n<meta property=\"og:description\" content=\"Well, friends, we made it through another week together. 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Maybe and maybe not, head of the government\u2019s covid-19 task force Hossam Hosny told CBC last night. Whether the country experiences a new resurgence of cases later this year depends on how many of the public sign up\u2026","rel":"","context":"In "COVID WATCH"","block_context":{"text":"COVID WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/covid-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":556123,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/10\/12\/were-in-the-middle-of-the-fourth-wave-of-covid-19-tag-el-din\/","url_meta":{"origin":576320,"position":1},"title":"We\u2019re in the middle of the fourth wave of covid-19 \u2013Tag El Din","author":"enterpriseam admin","date":"12 October 2021","format":false,"excerpt":"The Health Ministry reported 846 new covid-19 infections yesterday, up from 837 the day before. Egypt has now disclosed a total of 313,256 confirmed cases of covid-19. The ministry also reported 31 new deaths, bringing the country\u2019s total death toll to 17,726.Cases have been on an upward trend in recent\u2026","rel":"","context":"In "COVID WATCH"","block_context":{"text":"COVID WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/covid-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":561790,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/04\/21\/covid-19-data-tracking-with-china\/","url_meta":{"origin":576320,"position":2},"title":"Covid-19 data tracking with China?","author":"enterpriseam admin","date":"21 April 2021","format":false,"excerpt":"Are Cairo and Beijing setting up their own mini covid passport system? Egypt and China could share travelers\u2019 covid-19 medical records with each other through a QR code-based system that would include their PCR and antibody test results, as well as their vaccination status, Health Minister Hala Zayed and Chinese\u2026","rel":"","context":"In "COVID WATCH"","block_context":{"text":"COVID WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/covid-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":559088,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/01\/10\/what-were-tracking-on-10-january-2021\/","url_meta":{"origin":576320,"position":3},"title":"What we\u2019re tracking on 10 January 2021","author":"enterpriseam admin","date":"10 January 2021","format":false,"excerpt":"Good morning, friends, and welcome to the first \u201creal\u201d workweek of 2021 in which pretty much everyone is back from their break. 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