{"id":623311,"date":"2018-10-28T03:50:36","date_gmt":"2018-10-28T03:50:36","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2018\/10\/28\/what-were-tracking-on-28-october-2018\/"},"modified":"2018-10-28T03:50:36","modified_gmt":"2018-10-28T03:50:36","slug":"what-were-tracking-on-28-october-2018","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2018\/10\/28\/what-were-tracking-on-28-october-2018\/","title":{"rendered":"What we\u2019re tracking on 28 October 2018"},"content":{"rendered":"

To say that the weekend was bland on the news front would be an understatement. <\/strong>We\u2019re hoping things pick up a little bit as the week progresses.<\/p>\n

<\/a> <\/strong>** #7 President Abdel Fattah El Sisi is off to Berlin today for a four-day visit, <\/strong>where he will attend an Africa-focused G20 Investment Summit<\/a> on Tuesday. El Sisi is expected to deliver a speech on Egypt\u2019s role in African development, Ittihadiya spokesman Bassam Rady said, according to Youm7<\/a>.<\/p>\n

El Sisi will meet with Chancellor Angela Merkel and German President Frank Steinmeier <\/strong>during his visit, Germany\u2019s deputy government spokesperson Ulrike Demmer said<\/a>. The President had met in Cairo yesterday<\/a> with a delegation from the German parliament to discuss cooperation in the fields of investment, health, education, and Egypt\u2019s role in stemming illegal migration to Europe.<\/p>\n

The <\/strong>2018 Narrative PR Summit<\/strong><\/a> takes place today at the Four Seasons Nile Plaza.<\/p>\n

US stocks are heading for their worst month since the global financial crisis<\/strong>, the Financial Times warns<\/a> in a long take on the state of markets, \u201creigniting fears the longest bull market in history has come to an abrupt halt.\u201d We\u2019re not looking at the end of the world just yet<\/strong>, the FT\u2019s editorial board<\/a> notes, but the risk that a downturn market could be tough to manage is very real. \u201cMarkets have had a wretched October\u2026Globally\u2026a broad adjustment is underway,\u201d and a correction in the US market indicates that \u201cinvestors are finally recognizing the risks not just of the end of QE, but of rising trade protectionism\u2026There is no reason, for now, why the correction should become a rout. If it does, however, the erosion of multilateral co-operation \u2014 of which Mr Trump and his tariffs have become symbols \u2014 will make it all the more difficult to contain the consequences.\u201d<\/p>\n

<\/a> ** #8 But the real doomsday device in a sell-off? That would be exchange-traded funds<\/strong>, or ETFs.That\u2019s the suggestion in a JPMorgan piece picked up by Zero Hedge, which notes that \u201cJPMorgan calculates that some USD 7.4 tn in stocks would be subject to forced selling by passive funds during the next downturn<\/strong>.\u201d Read the full story here.<\/a><\/p>\n

Oman says it\u2019s time to recognize Israel exists: <\/strong>Sultan Qaboos of Oman met with Israeli leader Benjamin Netanyahu<\/a> in Muscat on Thursday, prompting the sultanate\u2019s foreign minister to declare<\/a>, \u201cI will say this for the first time: Israel is a state that is present in this region and we all know this. Maybe it is time for Israel to be treated the same and also bear the same obligations as other countries.\u201d The Wall Street Journal<\/a> has more.<\/p>\n

In miscellany this morning:<\/strong><\/p>\n