{"id":597240,"date":"2019-07-21T04:01:56","date_gmt":"2019-07-21T04:01:56","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2019\/07\/21\/what-were-tracking-on-21-july-2019\/"},"modified":"2019-07-21T04:01:56","modified_gmt":"2019-07-21T04:01:56","slug":"what-were-tracking-on-21-july-2019","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2019\/07\/21\/what-were-tracking-on-21-july-2019\/","title":{"rendered":"What we\u2019re tracking on 21 July 2019"},"content":{"rendered":"

We hate to open on a down note, but today\u2019s news cycle will likely be dominated by British Airways and Lufthansa\u2019s suspension of flights<\/b> to Cairo due to what they described as \u201csecurity concerns.\u201d British Airways, whose lead was followed by the German airline, has so far remained tight-lipped on the nature of these concerns. We have chapter and verse in this morning\u2019s Speed Round, below.<\/p>\n

Tuesday will be off in observance of Revolution Day, blessing us with a mid-week break.<\/b> The EGX and banks will be off, CBE sources tell MENA<\/a>.<\/p>\n

We also finally know when Eid Al-Adha will be:<\/b> The waqfa falls on Saturday, 10 August and the first day of Eid will be Sunday, 11 August, sources from the National Astronomy Institute tell Masrawy<\/a>. The vacation should run through Tuesday, but we\u2019re expecting a fair number of people to bridge for a nine-day holiday.<\/p>\n

\n

<\/a> The new administrative capital is finally getting a better name:<\/b> The New Administrative Capital Company for Urban Development (NACCUD) has launched a competition for naming and designing a logo for the new capital. A cash prize of EGP 75k will be handed out to the winner, while the runner-up and third place will receive EGP 50k and EGP 25k respectively. The competition closes on 17 August, meaning that we may not be far away from finally naming the new capital. Check out the terms and conditions here<\/a>.<\/p>\n

Speaking of the new capital, that\u2019s where the next youth conference on 30-31 July<\/b>, Al Masry Al Youm reports<\/a>. The last youth conference was held in July 2018<\/a>.<\/p>\n

<\/p>\n

In case you\u2019ve been under a rock all weekend, Algeria took home the Afcon title<\/b> on Friday evening after defeating Senegal 1-0 in a tense game at the Cairo International Stadium, Reuters reports<\/a>. This is the second time Algeria have won the competition. You can watch the highlights here (watch, runtime: 3:05<\/a>).<\/p>\n

CAF crisis escalates:<\/b> Under-fire Confederation of African Football (CAF) President Ahmad Ahmad has dismissed his deputy Amaju Pinnick as FIFA released its plans for reforming the trouble organization, Reuters reports<\/a>. Ahmad, who is currently under investigation by the global body\u2019s ethics committee for corruption, removed Pinnick because he was challenging him on multiple issues, sources said.<\/p>\n

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

<\/a> Shock South Korea rate cut caps week of emerging market easing:<\/b> The South Korean central bank set the trend for other emerging market banks last Thursday after it made a surprise 0.25% cut to its benchmark interest rate, Reuters says<\/a>. The Bank of Korea signaled that it may make further cuts if economic conditions do not improve. South Korea\u2019s trade-dependent economy is currently being hit by a trade dispute with Japan<\/a> and the continued uncertainty surrounding the US-China trade war. Indonesia<\/a>, South Africa<\/a> and Ukraine<\/a> all made 25-50 bps cuts when their respective governing boards met last Thursday.<\/p>\n

<\/p>\n

Another day, another provocation in the Arabian Gulf:<\/b> Iranian forces have detained a UK-flagged tanker as it was passing through the Strait of Hormuz, Bloomberg reports<\/a>. The seizure of the ship comes in response to the capture of an Iranian ship by British forces in the Mediterranean a few weeks ago. The UK foreign office has demanded that Iran release the ship immediately, threatening \u201cserious consequences\u201d if it does not comply.<\/p>\n

Make it a double:<\/b> The US claimed that it shot down an unmanned Iranian drone in the Gulf on Thursday, the New York Times reports<\/a>. Iran denied the accusation, and released footage that it says proves that the US did not destroy the drone, the BBC says<\/a>. All of this came just a few hours after Iranian Foreign Minister Mohamed Javad Zarif offered to permanently allow inspections of its nuclear facilities in return for a lifting of US sanctions, the Guardian reports<\/a>.<\/p>\n

Could the conflict trigger a global recession?<\/b> It\u2019s a no-brainer that all this tension can\u2019t be good for commodity prices, but Bloomberg says a prolonged conflict \u201ccould help tip the U.S. and global economies into recession and even accelerate the worldwide move away from fossil fuels.\u201d Oil prices could also jump to USD 100 a barrel in the immediate wake of a full-out war, but \u201csome resilience of exports from the region\u201d would help adjust prices to USD 80 per barrel, says Ken Medlock, a senior director at Rice University\u2019s Center for Energy Studies in Houston.<\/p>\n","protected":false},"excerpt":{"rendered":"

We hate to open on a down note, but today\u2019s news cycle will likely be dominated by British Airways and Lufthansa\u2019s suspension of flights to Cairo due to what they described as \u201csecurity concerns.\u201d British Airways, whose lead was followed by the German airline, has so far remained tight-lipped on the nature of these concerns. […]<\/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":[535,115,72,349,716,875,414,162,112,74],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-597240","post","type-post","status-publish","format-standard","hentry","category-what-were-tracking-today","tag-algeria","tag-emerging-markets","tag-enterpriseam","tag-interest-rates","tag-iran","tag-new-administrative-capital","tag-south-korea","tag-sports","tag-uk","tag-what-were-tracking-today","wpautop","entry"],"acf":{"mongo_id":"8eb6a454-4819-4774-8235-35f0dc0ecb0e","is_powered_by":true,"story_type":"1","photo_url":"","photo_position":"above","related_issue":[597238],"teaser":"","voice_url":""},"yoast_head":"\nWhat we\u2019re tracking on 21 July 2019 - 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\/2019\/07\/21\/what-were-tracking-on-21-july-2019\/\" \/>\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 July 2019\" \/>\n<meta property=\"og:description\" content=\"We hate to open on a down note, but today\u2019s news cycle will likely be dominated by British Airways and Lufthansa\u2019s suspension of flights to Cairo due to what they described as \u201csecurity concerns.\u201d British Airways, whose lead was followed by the German airline, has so far remained tight-lipped on the nature of these concerns. 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Fawry\u2019s initial public offering is expected to act as a bellwether for the equity raising climate 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":597452,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/07\/28\/british-airways-resumes-flights-to-cairo-after-one-week-suspension\/","url_meta":{"origin":597240,"position":1},"title":"British Airways resumes flights to Cairo after one-week suspension","author":"enterpriseam admin","date":"28 July 2019","format":false,"excerpt":"British Airways resumed their flights to Cairo on Friday as scheduled after having suspended them a week ago \u201cas a security precaution,\u201d a spokeswoman said in an email seen by Reuters. \u201cFollowing a thorough assessment of the security arrangements, we are pleased that our service to and from Cairo will\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2019\/7\/2343.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":597243,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/07\/21\/british-airways-lufthansa-abruptly-suspend-flights-to-egypts-capital\/","url_meta":{"origin":597240,"position":2},"title":"British Airways, Lufthansa abruptly suspend flights to Egypt\u2019s capital","author":"enterpriseam admin","date":"21 July 2019","format":false,"excerpt":"British Airways, Lufthansa abruptly suspend flights to Cairo, citing \u201csecurity concerns\u201d: British Airways decided yesterday to suspend for seven days its flights to Cairo \u201cas a precaution to allow for further assessment\u201d of security arrangements, the airline said in a statement, according to Reuters. Three sources from Egypt\u2019s airport security\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/6\/British-Airways-1600px.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":597319,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/07\/22\/egypt-in-the-news-on-22-july-2019-british-airways-suspension-of-flights\/","url_meta":{"origin":597240,"position":3},"title":"Egypt in the news on 22 July 2019: British Airways suspension of flights","author":"enterpriseam admin","date":"22 July 2019","format":false,"excerpt":"The Wall Street Journal is blowing the flight suspension out of proportion: Egypt\u2019s tourism industry will suffer a heavy blow because British Airways suspended flights to Cairo for a week, Jared Malsin claims in the Wall Street Journal. The news will apparently \u201ctaint the view of potential tourists who will\u2026","rel":"","context":"In "EGYPT IN THE NEWS"","block_context":{"text":"EGYPT IN THE NEWS","link":"https:\/\/enterpriseam.com\/egypt\/category\/egypt-in-the-news\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":597861,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/05\/07\/what-were-tracking-on-07-may-2019\/","url_meta":{"origin":597240,"position":4},"title":"What we\u2019re tracking on 07 May 2019","author":"enterpriseam admin","date":"7 May 2019","format":false,"excerpt":"Welcome to one of the slowest news days of the past year, ladies and gentlemen. We hope your first day of fasting passed smoothly yesterday \u2014 only have 29 more days to go. In the meantime, the Associated Press brings us a rundown of key facts about the holy month\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":593132,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/11\/19\/what-were-tracking-on-19-november-2019\/","url_meta":{"origin":597240,"position":5},"title":"What we\u2019re tracking on 19 November 2019","author":"enterpriseam admin","date":"19 November 2019","format":false,"excerpt":"It\u2019s a reasonably quiet morning on the business \/ finance \/ econ news front in Egypt. The three big news drivers of the day: #1- Talk of a cabinet shuffle is still in the air \u2014 or on the airwaves, if you prefer, a day after state newspaper boss Yasser\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":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/597240","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=597240"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/597240\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/597238"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=597240"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=597240"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=597240"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=597240"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=597240"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}