{"id":593224,"date":"2019-11-21T04:25:58","date_gmt":"2019-11-21T04:25:58","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2019\/11\/21\/what-were-tracking-on-21-november-2019\/"},"modified":"2019-11-21T04:25:58","modified_gmt":"2019-11-21T04:25:58","slug":"what-were-tracking-on-21-november-2019","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2019\/11\/21\/what-were-tracking-on-21-november-2019\/","title":{"rendered":"What we\u2019re tracking on 21 November 2019"},"content":{"rendered":"

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

<\/a> *** Episode one of <\/strong>Making It<\/a><\/em>, our first-ever podcast, drops tomorrow morning at <\/strong>8am. <\/strong>Season one of Making It will ask eight CEOs how they\u2019re building great businesses \u2014 whether they\u2019re scrappy startups of Egyptian multinationals.<\/p>\n

Want a sneak peek?<\/strong> Check out our trailer (listen, runtime: 2:02<\/a>) or hear our editor explain the origin story of both Making It and of Enterprise itself (listen, runtime: 3:02<\/a>).<\/p>\n

You\u2019ll be able to listen to Making It on Apple Podcasts, Google Podcasts<\/strong>, Spotify, Overcast and wherever else you get your podcasts. You can also stream it from our website. Hit up this handy page for all the links<\/a> or subscribe now on Apple Podcast<\/a><\/p>\n

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The question of the morning: Are we going to see a cabinet shuffle over the weekend?<\/strong> A change-up in cabinet that will see as many as 10 ministers exiting stage right is expected to be announced after President Abdel Fattah El Sisi returns from his trip to Berlin for the G20 Compact with Africa summit, well-connected MP Mostafa Bakry said, according to the local press<\/a>. Bakry said the House of Representatives should be receiving the proposed changes to sign off before they are officially announced. House Speaker Ali Abdel Aal also said that parliament will likely hold an \u201cextraordinary\u201d meeting during its current recess, which many MPs suggest will be for the shuffle approval, according to Ahram Online<\/a>. Masrawy<\/a>, meanwhile, has a list of who\u2019s allegedly in and out, citing an unnamed government official. Bakry said that Prime Minister Moustafa Madbouly will keep his job.<\/p>\n

This is the latest in a drumbeat of rumors about a shuffle <\/strong>that we\u2019ve noted this week, starting with discussions Sunday and Monday on the nation\u2019s airwaves. And the rumblings come as the end-of-month deadline nears to make clear whether Tarek Amer is being reappointed or extended as governor of the Central Bank of Egypt or whether someone else will soon be signing Egypt\u2019s banknotes.<\/p>\n

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The 2019 <\/strong>Investment for Africa Forum<\/a><\/strong> will take place this weekend at the new <\/strong>administrative capital.<\/strong> The conference will bring together African heads of state, investors, and global financial institutions to discuss investment initiatives on the continent.<\/p>\n

The EBRD president will be in attendance on Saturday:<\/strong> President of the European Bank for Reconstruction and Development (EBRD) Suma Chakrabarti will be in town on Saturday to attend the conference, according to an emailed statement. Chakrabarti will hold talks with President Abdel Fattah El Sisi and Investment Minister Sahar Nasr during the day, and participate in a panel discussion.<\/p>\n

Al Mashat in Beijing for Bloomberg New Economy Forum: <\/strong>Tourism Minister Rania Al Mashat will take part in three panel discussions and several meetings and interviews to talk tourism reform during her participation in the Bloomberg New Economy Forum<\/a>, which kicks off today in Beijing, the cabinet said in a statement<\/a>. Meetings with executives from China-based travel agency Ctrip are expected as the ministry gets ready to launch a campaign to promote Egypt as a destination through Chinese search engine Baidu, China\u2019s WhatsApp equivalent Wechat, and Ctrip\u2019s website.<\/p>\n

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

Talks between the US and China could reach a deadlock again <\/strong>due to disagreements over Beijing's demand that the US lift its tariffs on Chinese goods, while Washington won\u2019t budge on its insistence that China make large purchases of American agricultural products, according to the Wall Street Journal<\/a>. The Donald has threatened to ratchet up the tariffs even further if they fail to reach common ground for an agreement.<\/p>\n

US markets turn red:<\/strong> The S&P 500 experienced its biggest loss in a month on the news, led by telecom firms and car manufacturers. Both the USD and oil rose. Bloomberg has more in its market wrap-up<\/a>.<\/p>\n

US investors are giddy over so-so earnings season:<\/strong> Businesses are getting more wiggle room from investors this year as investors cheer 3Q earnings that have fallen below expectations. Axios breaks down what this means<\/a>.<\/p>\n

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

Yields on some of Lebanon\u2019s USD bonds are now in \u201cVenezuela territory,\u201d rising<\/strong> to as much as 105%<\/strong> as a result of the ongoing political instability, according to Bloomberg<\/a>. The yields rose 28 percentage points this week alone, and were as low as 13% prior to the protests that began five weeks ago. \u201cWith Lebanon viewed by many bond traders as a default waiting to happen, cash prices have become more important than yields as they factor in potential recovery rates. That\u2019s inverted the government\u2019s curve and distorted yields at the shorter end,\u201d the news information service says.<\/p>\n

Saudi financial regulators are monitoring credit flows to local investors<\/strong> after they relaxed lending limits to boost subscription for Aramco\u2019s IPO, sources told Bloomberg<\/a>. Riyal buyers are now able to borrow twice the amount to put towards Aramco shares, raising concerns that the private sector may be deprived of credit.<\/p>\n

Saudi and Bahrain just completed their first blockchain transaction<\/strong> in a trade transaction between Saudi British Bank (SABB) and HSBC, Zawya<\/a> reported. The blockchain-enabled process allowed the tracking and tracing of information as it moved between parties.<\/p>\n

In other business miscellany:<\/p>\n