{"id":594308,"date":"2019-10-27T04:08:53","date_gmt":"2019-10-27T04:08:53","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2019\/10\/27\/what-were-tracking-on-27-october-2019\/"},"modified":"2019-10-27T04:08:53","modified_gmt":"2019-10-27T04:08:53","slug":"what-were-tracking-on-27-october-2019","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2019\/10\/27\/what-were-tracking-on-27-october-2019\/","title":{"rendered":"What we\u2019re tracking on 27 October 2019"},"content":{"rendered":"

We have a rather packed issue this morning<\/b> as the Russia-Africa summit wrapped on Thursday and a flurry of economic analysis on Egypt hit the interwebs over the weekend.<\/p>\n

Good news first: It looks like we\u2019re not going to be taking up Abiy Ahmed on that war call.<\/b> President Abdel Fattah El Sisi agreed with the Ethiopian prime minister to go back to the negotiating table over the Grand Ethiopian Renaissance Dam (GERD) during a sit-down in Sochi on Thursday.<\/p>\n

Also good: Egypt\u2019s ranking improved in the World Bank<\/b>\u2019s Ease of Doing Business Report.<\/p>\n

Neutral: The EGP has continued to strengthen<\/b> against the greenback, rising to the highest level since March 2017.<\/p>\n

On a less welcome note: Domestic equities and bonds have not been doing great since last month\u2019s protests.<\/b> Investors, particularly foreign holders of government debt, have scaled back their bullish approach to Egypt over the past few weeks at the prospect of political unpredictability.<\/p>\n

We have the rundown on all of the above<\/b> in this morning\u2019s Speed Round.<\/p>\n

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CIB kicked off the world\u2019s biggest squash event at the Giza Pyramids on Thursday. <\/b>The CIB PSA Women\u2019s World Championship and the CIB Egyptian Squash Open Men\u2019s Platinum, which are taking place simultaneously, bring together 64 women competitors and 48 men and run through Friday, 1 November.<\/p>\n

The winner of the women\u2019s world championship will earn more than will the men\u2019s world champion <\/b>at the Doha men\u2019s world championship in November \u2014 something CNN lauds<\/a> as a \u201cpotentially groundbreaking move\u201d as the issue of gender pay equality continues to gain attention in the sports world. First prize in the CIB women\u2019s tournament is nearly USD 49k out of a total purse of USD 430k. The men\u2019s world champion will win nearly USD 46k out of a total purse of USD 335k.<\/p>\n

Keep your fingers crossed for an all-Egyptian final <\/b>\u2014 something not outside the realm of the possible given that squash is the one sport we absolutely dominate at the global level (as immodestly advertised all over Cairo International Airport in the run-up to the tournaments).<\/p>\n

And join us in thanking our friends at CIB <\/b>for having helped build Egyptian squash into a global powerhouse. Corporate backing can make a positive difference, and this is one of those cases in which it\u2019s on display for the entire nation to see.<\/p>\n

Egypt\u2019s World No.2 Nour El Sherbini <\/b>cruised past Hollie Naughton<\/b><\/a> in three sets yesterday<\/b> to enter the third round of the tournament. El Sherbini beat Naughton 13-11, 11-7 and 11-4 to keep her on course to retain her World Championship title.<\/p>\n

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German Foreign Minister Heiko Maas will arrive in Cairo tomorrow<\/b> to discuss the situations in Syria and Libya with President Abdel Fattah El Sisi and Foreign Minister Sameh Shoukry, the German embassy in Cairo said in a statement<\/a>.<\/p>\n

King Tut\u2019s multi-city exhibition is landing on Friday in London<\/b>, where it will be on display at the Saatchi Gallery<\/p>\n

Other dates to pencil into your agendas <\/b>this week and next:<\/p>\n