{"id":600991,"date":"2019-02-17T04:06:47","date_gmt":"2019-02-17T04:06:47","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2019\/02\/17\/what-were-tracking-on-17-february-2019\/"},"modified":"2019-02-17T04:06:47","modified_gmt":"2019-02-17T04:06:47","slug":"what-were-tracking-on-17-february-2019","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2019\/02\/17\/what-were-tracking-on-17-february-2019\/","title":{"rendered":"What we\u2019re tracking on 17 February 2019"},"content":{"rendered":"

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

The story of the morning: What does Thursday\u2019s surprise interest rate cut really mean? <\/b>We have lots on this front in today\u2019s Speed Round, below.<\/p>\n

The judiciary is going to play an outsized role in business sentiment this week. <\/b>The Cairo Economic Court is due to deliver on Tuesday a decision<\/a> on an appeal<\/a> by pharma distributors of an antitrust fine. The Supreme Administrative Court, meanwhile, will rule<\/a> on an appeal by Uber and its competitor Careem<\/a> against a lower court ruling ordering the suspension of their operations on Saturday.<\/p>\n

Our Coffee With\u2026 feature is back this morning<\/b> with Egyptian Exchange chief Mohamed Farid sitting down for a cup of joe. The interview starts after this morning\u2019s Speed Round, or you can jump straight to the web and read it in full there<\/a> \u2014 it has something for market newbies and finance nerds alike.<\/p>\n

Don\u2019t lose the plot:<\/b> We\u2019re barreling toward the peak of 4Q\/FY2018 earnings season.<\/p>\n

Good news: The Russians are coming.<\/b> Suez Canal Authority boss Mohab Mamish is in Moscow today to move forward an agreement on a USD 7 bn Russian Industrial Zone, according to a statement<\/a>.<\/p>\n

<\/a> Bad news: So are the locusts. <\/b>Locusts have landed in Egypt on the southern Red Sea coast (see map, below), the UN Food and Agriculture Organization (FAO) has warned, according to Reuters<\/a>. Rains in Sudan and Eritrea have led to a \u201csubstantial increase\u201d in the locust population, and locust control efforts are underway in Egypt, Eritrea, Saudi Arabia and Sudan, the FAO said. You can track the advance of the bugs here<\/a><\/p>\n

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

Egypt could put two teams on the court as the NBA comes to Africa<\/b>, the Associated Press<\/a> reports. The Basketball Africa League, a collaboration between the NBA and FIBA, basketball\u2019s global governing body, could see 12 teams playing in January 2020. Former US President Barack Obama will be somehow involved with the league, which will see countries including Angola, Egypt, Kenya, Morocco, Nigeria, Rwanda, Senegal, South Africa and Tunisia putting together teams.<\/p>\n

What global investors are watching for this week: <\/b>Wall Street earnings<\/b> (is an \u201cearnings recession\u201d in the works?), US unemployment claims<\/b>, developments in emerging markets<\/b> (we\u2019re hot again after the Fed signaled it was pulling back from rate hikes), a snap election in Spain<\/b>, and the impact of disappointing PMI figures in Europe<\/b> on sentiment. Reuters<\/a> has more.<\/p>\n

In global miscellany worth knowing about this morning:<\/b><\/p>\n