{"id":579504,"date":"2022-11-03T13:19:25","date_gmt":"2022-11-03T13:19:25","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2022\/11\/03\/this-evening-pmi-in-contraction-for-23rd-month-running-netflix-with-ads-is-now-here\/"},"modified":"2022-11-03T13:19:25","modified_gmt":"2022-11-03T13:19:25","slug":"this-evening-pmi-in-contraction-for-23rd-month-running-netflix-with-ads-is-now-here","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2022\/11\/03\/this-evening-pmi-in-contraction-for-23rd-month-running-netflix-with-ads-is-now-here\/","title":{"rendered":"THIS EVENING: PMI in contraction for 23rd month running + Netflix with ads is now here"},"content":{"rendered":"<p><strong>Good afternoon, ladies and gentlemen.<\/strong> We\u2019re at the end of the last workday before the start of COP27, with hundreds of attendees currently on their way or set to begin their travels soon to Sharm El Sheikh.<\/p>\n<p><strong>THE BIG STORY TODAY<\/strong><\/p>\n<p><a class=\"content-anchor\" id=\"tldr-story-01\"><\/a> <strong>Activity in Egypt\u2019s non-oil private sector continued to contract in October,<\/strong><strong> albeit at a marginally lower pace <\/strong><strong>than it did in September<\/strong>, according to S&P Global\u2019s <a href=\"https:\/\/www.pmi.spglobal.com\/Public\/Home\/PressRelease\/bac59ef295054d07a57432ba0b957cec\">purchasing managers\u2019 index (pdf)<\/a>. The PMI index registered 47.7 last month \u2014 just 0.1 points higher than September\u2019s reading, but marking the highest reading since February. This is the 23rd consecutive month that index has come in below the 50.0 threshold that separates growth from contraction.<\/p>\n<p><strong>THE BIG STORY ABROAD<\/strong><\/p>\n<p><strong>Leading the conversation in the international business press this afternoon:<\/strong> The Bank of England <a href=\"https:\/\/www.bankofengland.co.uk\/monetary-policy-summary-and-minutes\/2022\/november-2022\">raised interest rates by 75 basis points<\/a> today \u2014 its highest rate hike in more than three decades \u2014 in a bid to tamp down inflation amid a \u201cvery challenging\u201d outlook for the UK\u2019s economy. The story is on the front pages of the <a href=\"https:\/\/www.wsj.com\/articles\/bank-of-england-raises-key-interest-rate-by-0-75-point-11667477027?mod=hp_lead_pos1\">Wall Street Journal<\/a>, <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2022-11-03\/boe-hikes-by-75-basis-points-but-rejects-market-rate-path\">Bloomberg<\/a>, and <a href=\"https:\/\/www.cnbc.com\/2022\/11\/03\/bank-of-england-raises-rate-by-75-basis-points-biggest-hike-in-33-years.html\">CNBC<\/a>.<\/p>\n<hr class=\"grey-line\">\n<p><a class=\"content-anchor\" id=\"tldr-story-04\"><\/a> <strong>SIGN OF THE TIMES- Netflix with ads launches in 12 countries: <\/strong>Netflix is rolling out its ad-supported service in a dozen countries today including Canada, the UK, and the US in an effort to boost revenues and subscriber growth, the <a href=\"https:\/\/www.wsj.com\/articles\/netflix-with-ads-launching-as-talks-continue-with-studios-over-content-11667381403?mod=hp_lead_pos4\">Wall Street Journal<\/a> reports. The ad-supported plan will cost USD 6.99 in the US, while the premium tier \u2014 which is set to offer exclusive programs \u2014 will cost US customers USD 19.99. Disney+ is set to follow suit with its own ad rollout next month.<\/p>\n<hr class=\"grey-line\">\n<p><strong>** CATCH UP QUICK<\/strong> on the top stories from today\u2019s <strong>EnterpriseAM<\/strong>:<\/p>\n<ul>\n<li><strong>Is the state readying logistics companies for EGX debuts in 2023?<\/strong> The Madbouly government <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/f071461a-67ca-4eda-97bf-6c10415a375d\">plans to IPO<\/a> as many as four state-owned maritime and land transport companies during 1Q 2023 as it looks to reboot its stalled privatization program.<\/li>\n<li><strong>More renewables projects are being negotiated in Riyadh:<\/strong> The Electricity Ministry <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/db8e376b-7412-4e46-aaa1-3e4f5b33660a\">is in talks<\/a> with six Saudi firms for more than USD 3 bn worth of renewable energy projects as Electricity Minister Mohamed Shaker visits Riyadh.<\/li>\n<li><strong>The International Cooperation Ministry <\/strong><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/196346a6-9073-4ec3-be85-d7263213092b\">will seek<\/a><\/strong><strong> blended finance for nine projects worth USD 15 bn <\/strong>in its Nexus on Water, Food and Energy (NWFE) program.<\/li>\n<\/ul>\n<div class=\"row\">\n<div class=\"col-md-12 subscribe-box-panel\">\n<div class=\"\">\n<div class=\"title\">\n<h4 class=\"fw-lighter mb-10\">\n          Get <b style=\"font-weight: 700\">Enterprise<\/b> daily<br \/>\n        <\/h4>\n<\/p><\/div>\n<p class=\"mb-10\">The roundup of news and trends that move your markets and shape corporate agendas delivered straight to your inbox.<\/p>\n<p>      <a href=\"egypt\/en\/user\/NewsLetters\" type=\"button \" class=\"btn-green px-3 d-flex align-items-center\">Subscribe here<\/a>\n    <\/div>\n<\/p><\/div>\n<\/div>\n<p><strong>? CIRCLE YOUR CALENDAR-<\/strong><\/p>\n<p><strong>Fifteen global green startups will pitch at COP27 as part of the government\u2019s <\/strong><strong>ClimaTech competition:<\/strong> The International Cooperation Ministry has selected its 15-strong shortlist from the 422 startups that applied to the <a href=\"https:\/\/climatechrun.com\/ar\">ClimaTech Run<\/a> competition \u2014 which <a href=\"https:\/\/eg.usembassy.gov\/united-states-and-egypt-launch-global-climate-competition-to-promote-green-start-ups-and-entrepreneurs\/\">is supported<\/a> by our friends at USAID through their Business Egypt program. The chosen firms will pitch their businesses to a judging panel composed of top UN officials as well as representatives of Afreximbank, Microsoft, and Google during the climate summit\u2019s Youth Day, the ministry <a href=\"https:\/\/moic.gov.eg\/ar\/news\/764?fbclid=IwAR2m5fShOpo0gzvd_9a6_eZcyQosNVJ0wpZVwZEfjM1MiCfKSdfu9OBh0Qo\">said<\/a> yesterday. The startups present sustainable solutions in sectors including energy, agriculture, food security, transport, and urban development. Together they operate across 46 countries, with eight firms based on the African continent.<\/p>\n<p><strong>A delegation of Italian agricultural firms will visit Egypt in the second week of <\/strong><strong>December <\/strong>to explore potential cooperation with local companies, Italian Ambassador to Cairo Michael Caron told Trade and Industry Minister Ahmed Samir in a meeting, according to a cabinet <a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/541079681395790\/\">statement<\/a>.<\/p>\n<hr class=\"grey-line\">\n<p>\u2600\ufe0f <strong>TOMORROW\u2019S WEATHER- <\/strong><strong>Your weekend weather is looking fantastic<\/strong>. Look for a daytime high of 26\u00b0C in Cairo on both Friday and Saturday, with an overnight low of 14\u00b0C. Folks landing in Sharm can expect a high tomorrow of 29\u00b0C, with the mercury dipping to 22\u00b0C at night.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Good afternoon, ladies and gentlemen. We\u2019re at the end of the last workday before the start of COP27, with hundreds of attendees currently on their way or set to begin their travels soon to Sharm El Sheikh. THE BIG STORY TODAY Activity in Egypt\u2019s non-oil private sector continued to contract in October, albeit at a [&hellip;]<\/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":[7213],"tags":[2494,104,633,724,640,185,634],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-579504","post","type-post","status-publish","format-standard","hentry","category-what-were-tracking-tonight","tag-bank-of-england","tag-economy","tag-enterprisepm","tag-monetary-policy","tag-netflix","tag-pmi","tag-what-were-tracking-tonight","wpautop","entry"],"acf":{"mongo_id":"5c632da1-92df-4eb5-9eef-335285ce43f3","order":"0","is_powered_by":true,"story_type":"4","photo_url":"","photo_position":"above","related_issue":[579502],"teaser":"","voice_url":""},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>THIS EVENING: PMI in contraction for 23rd month running + Netflix with ads is now here - 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\/2022\/11\/03\/this-evening-pmi-in-contraction-for-23rd-month-running-netflix-with-ads-is-now-here\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"THIS EVENING: PMI in contraction for 23rd month running + Netflix with ads is now here\" \/>\n<meta property=\"og:description\" content=\"Good afternoon, ladies and gentlemen. 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Today we have all the latest on Egypt\u2019s fresh PMI reading, Jaguar\u2019s new EV concept, and the best content to wind down to after a busy work day. THE BIG STORY TODAY Egypt\u2019s non-oil private sector activity continued to contract in\u2026","rel":"","context":"In &quot;WHAT WE\u2019RE TRACKING TONIGHT&quot;","block_context":{"text":"WHAT WE\u2019RE TRACKING TONIGHT","link":"https:\/\/enterpriseam.com\/egypt\/category\/what-were-tracking-tonight\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2024\/12\/302.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":614649,"url":"https:\/\/enterpriseam.com\/egypt\/2024\/02\/05\/this-evening-weighed-down-by-inflation-pmi-contracts-for-the-38th-month-in-a-row\/","url_meta":{"origin":579504,"position":1},"title":"THIS EVENING: Weighed down by inflation, PMI contracts for the 38th month in a row","author":"enterpriseam admin","date":"5 February 2024","format":false,"excerpt":"Good afternoon, folks, and happy Monday. The news cycle at home and abroad continues to be primarily led by macroeconomics and monetary policy, while everyone here in Om El Donia is keeping their eyes peeled for signs that our IMF agreement is signed, sealed, and delivered.THE BIG STORY TODAY Egypt\u2019s\u2026","rel":"","context":"In &quot;WHAT WE\u2019RE TRACKING TONIGHT&quot;","block_context":{"text":"WHAT WE\u2019RE TRACKING TONIGHT","link":"https:\/\/enterpriseam.com\/egypt\/category\/what-were-tracking-tonight\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2024\/2\/319.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":607479,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/10\/03\/this-evening-egypts-non-oil-private-sector-contracts-at-a-sharper-pace-in-september\/","url_meta":{"origin":579504,"position":2},"title":"THIS EVENING: Egypt\u2019s non-oil private sector contracts at a sharper pace in September","author":"enterpriseam admin","date":"3 October 2023","format":false,"excerpt":"Good afternoon, friends. It\u2019s almost the end of the week, with the upcoming long weekend making tomorrow a THURSDAY-equivalent. THE BIG STORY TODAY PMI contraction accelerates again: The contraction in Egypt\u2019s non-oil private sector deepened in September on the back of \u201cprice and supply challenges\u201d that curbed output levels, according\u2026","rel":"","context":"In &quot;WHAT WE\u2019RE TRACKING TONIGHT&quot;","block_context":{"text":"WHAT WE\u2019RE TRACKING TONIGHT","link":"https:\/\/enterpriseam.com\/egypt\/category\/what-were-tracking-tonight\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/11\/388.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":658213,"url":"https:\/\/enterpriseam.com\/egypt\/2025\/01\/06\/egypts-pmi-reading-for-december-sees-output-fall-at-fastest-clip-in-eight-months\/","url_meta":{"origin":579504,"position":3},"title":"Egypt\u2019s PMI reading for December sees output fall at fastest clip in eight months","author":"enterpriseam admin","date":"6 January 2025","format":false,"excerpt":"Good afternoon folks, and happy Monday. While the weather might be getting chillier, the new year\u2019s presses are just starting to heat up.Merry Christmas to everyone celebrating tomorrow: Don\u2019t forget that the whole country is off tomorrow in observance of Coptic Christmas.That means us, too: EnterprisePM will be off tomorrow\u2026","rel":"","context":"In &quot;WHAT WE\u2019RE TRACKING TONIGHT&quot;","block_context":{"text":"WHAT WE\u2019RE TRACKING TONIGHT","link":"https:\/\/enterpriseam.com\/egypt\/category\/what-were-tracking-tonight\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2025\/1\/175.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":618174,"url":"https:\/\/enterpriseam.com\/egypt\/2024\/04\/03\/this-evening-egypts-pmi-increased-slightly-to-47-6-in-march\/","url_meta":{"origin":579504,"position":4},"title":"THIS EVENING: Egypt\u2019s PMI increased slightly to 47.6 in March","author":"enterpriseam admin","date":"3 April 2024","format":false,"excerpt":"Good afternoon, ladies and gentlemen, and happy almost-Thursday. We have some updates on our PMI figures that arrived earlier during the business day. THE BIG STORY TODAY Egypt\u2019s non-oil sector activity declined at a slower pace in March: Egypt\u2019s purchasing manager index (PMI) figure \u2014 which tracks the country\u2019s non-oil\u2026","rel":"","context":"In &quot;WHAT WE\u2019RE TRACKING TONIGHT&quot;","block_context":{"text":"WHAT WE\u2019RE TRACKING TONIGHT","link":"https:\/\/enterpriseam.com\/egypt\/category\/what-were-tracking-tonight\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/12\/758.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":651148,"url":"https:\/\/enterpriseam.com\/egypt\/2017\/02\/06\/pmi-reading-points-to-another-month-of-worsening-business-conditions\/","url_meta":{"origin":579504,"position":5},"title":"PMI reading points to another month of worsening business conditions","author":"enterpriseam admin","date":"6 February 2017","format":false,"excerpt":"Waiting for Godot: There is little evidence an economic recovery is underway, according to the Emirates NBD Egypt\u2019s PMI reading, which registered 43.3 in January. \u201cEgypt\u2019s non-oil private sector began 2017 in the same way that it ended 2016, with economic conditions worsening again. Underpinning the downturn were ongoing reductions\u2026","rel":"","context":"In &quot;Speed Round&quot;","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"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\/579504","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=579504"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/579504\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/afternoon\/579502"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=579504"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=579504"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=579504"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=579504"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=579504"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}