{"id":600440,"date":"2019-01-30T04:19:28","date_gmt":"2019-01-30T04:19:28","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2019\/01\/30\/what-were-tracking-on-30-january-2019\/"},"modified":"2019-01-30T04:19:28","modified_gmt":"2019-01-30T04:19:28","slug":"what-were-tracking-on-30-january-2019","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2019\/01\/30\/what-were-tracking-on-30-january-2019\/","title":{"rendered":"What we\u2019re tracking on 30 January 2019"},"content":{"rendered":"

Is anyone else a just a little surprised that January is almost over? <\/b>As The Colonel hammered into us eons ago: Time accelerates as you age.<\/p>\n

Foreigners are back to loving our debt: <\/b>Foreign investors bought 100% of the EGP 1.16 bn worth of five-year treasury bonds offered in a Monday auction. \u201cAfter pulling out about USD 10 bn from Egypt during a global selloff last year, foreign investors are back to capture the highest yields in emerging markets after Argentina,\u201d Bloomberg notes<\/a>. That appetite is quite likely one of the big reasons the EGP has been gaining strength<\/b> against the greenback this week. We break it all down in this morning\u2019s Speed Round, below.<\/p>\n

Is there an Egyptian link to the global Huawei scandal? <\/b>It\u2019s just a single line in a story by the Financial Times<\/a>, but the paper notes the US Department of Justice is alleging that the global telecoms company \u201csold equipment to a third party in Egypt which then sold it to Iran.\u201d Huawei faces criminal charge in the US and its CFO is under arrest in Canada, accused of trying to circumvent sanctions on Iran. Huawei itself has significant business in Egypt, as we noted yesterday<\/a>, but moved its MENA headquarters<\/a> out of Cairo to Morocco back in early 2017. You can read more about the US case against Huawei in the Wall Street Journal<\/a>.<\/p>\n

Egyptian parliamentarians are in Addis Ababa today <\/b>and will meet with the speaker of the Ethiopian house, reports Al Mal<\/a>. Expect the Grand Ethiopian Renaissance Dam, which threatens to fundamentally change Egypt\u2019s water supply, to be on the agenda.<\/p>\n

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Dominating front pages in the global business press: Investors sent Apple shares up 5.5% in after-hours trading overnight <\/b>after Apple reported slightly better results than Wall Street had feared after Apple\u2019s surprise warning earlier this month. Apple\u2019s revenues were down 5% for the holiday quarter just ended, while profits were off 0.5%. \u201cWe see great upside by continuing to focus on then things that we can control \u2026 We wouldn't change our position for anyone\u2019s,\u201d Apple CEO Tim Cook said on his results call as he promised \u201csome exciting announcements later this year<\/b>. \u2026 Apple innovates like no other company on earth and we are not taking our foot off the gas.\u201d See: FT<\/a> | WSJ<\/a> | Bloomberg<\/a> | Reuters<\/a> | CNBC<\/a>.<\/p>\n

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The US is \u201cnarrowing its list of potential nominees to lead the World Bank<\/b>,\u201d the FT reports<\/a>. The leading contenders include:<\/p>\n