{"id":626824,"date":"2018-07-12T03:38:17","date_gmt":"2018-07-12T03:38:17","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2018\/07\/12\/what-were-tracking-on-12-july-2018\/"},"modified":"2018-07-12T03:38:17","modified_gmt":"2018-07-12T03:38:17","slug":"what-were-tracking-on-12-july-2018","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2018\/07\/12\/what-were-tracking-on-12-july-2018\/","title":{"rendered":"What we\u2019re tracking on 12 July 2018"},"content":{"rendered":"

It\u2019s a slow news day in Cairo<\/strong> as many of us scurry to the coast to squeeze in a long weekend as we approach \u201cpeak summer.\u201d For new readers, peak summer is our shorthand for the long weekend many take some time around the 23 July holiday, propelling us into August when Sahel booms. It\u2019s among the quietest months of the year, particularly after the 2Q \/ 1H earnings season ends in mid-month.<\/p>\n

Be prepared for grumbling: Cigarette prices go up today. <\/strong>The non-smokers among us are crowing. (Yes, there\u2019s nothing more pious or self-righteous than reformed smokers.) We have the rundown in Last Night\u2019s Talk Shows, below.<\/p>\n

<\/a> Happy World Population Day. We\u2019re at 7.5 bn people and counting, <\/strong>according to the US Census Bureau<\/a><\/u>. Projections see the world\u2019s population growing to 9.9 bn individuals by 2050. Here at home, we hit 96.3 mn citizens at the start of 2018<\/strong>, according to a CAPMAS report<\/a><\/u>. Cairo was still the country\u2019s most populous city with 9.9 mn residents at the start of the year, followed by Giza with 8.8 mn, making the Greater Cairo Area some 18.7 mn. One-third of the population was under 15 years and only 3.9% were over 65 years of age, according to the report, which adds that life expectancy has improved for men (to 71.2 years from 66.5 in 2006) and women (to 73 years from 69.1 in 2006). We city dwellers represented 42.6% of the population as of January.<\/p>\n

Are the two biggest economies in Africa joining the continent\u2019s freetrade zone?<\/strong> Nigeria plans to sign up to the African Continental Freetrade Zone \u201csoon,\u201d Nigerian President Muhammadu Buhari said on Wednesday following a meeting with South African President Cyril Ramaphosa. The latter had also said that South Africa saw huge benefits from the continental free trade deal and that a draft agreement relating to the movement of people was being reviewed, Reuters said<\/a><\/u>. The two biggest economies had refused to join the other 44 countries,including Egypt<\/a><\/u>, who signed on to the agreement when it was inked in March.<\/p>\n

The price of oil sank nearly 7% yesterday as the US-China trade war continued to unfold.<\/strong> The fall in Brent, coupled with a sell-off in metals from copper to zinc and agricultural commodities, underscores \u201cwidespread weakness\u201d in commodities markets, the Financial Times<\/a><\/u> writes.<\/p>\n

Turkey is getting it behind the ear from global markets <\/strong>after Erdogan predicted interest rates would fall, prompting investors to \u201cfret over the health of the economy,\u201d the Financial Times<\/a><\/u> reports. \u201cInvestors fear that Mr. Erdogan will have a greater say in monetary and economic policy\u201d under the country\u2019s new presidential system and after appointing his son-in-law in charge of the economy. Bloomberg Opinion takes it further, bluntly declaring \u201cErdogan\u2019s new dynasty makes Turkey uninvestable.<\/a><\/u> The president has given investors every reason to turn away.\u201d<\/p>\n

Worth a moment of your time<\/strong> if you\u2019re looking for something to fill your commute or to read while you scarf down lunch at your desk:<\/p>\n