{"id":646547,"date":"2017-06-18T04:09:45","date_gmt":"2017-06-18T04:09:45","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2017\/06\/18\/international-news-of-note-on-18-june-2017\/"},"modified":"2017-06-18T04:09:45","modified_gmt":"2017-06-18T04:09:45","slug":"international-news-of-note-on-18-june-2017","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2017\/06\/18\/international-news-of-note-on-18-june-2017\/","title":{"rendered":"International news of note on 18 June 2017"},"content":{"rendered":"

Six Egyptians are reportedly among the estimated 76 people missing in the fire <\/strong>that engulfed London\u2019s Grenfell Tower last week<\/strong>, according to UK Metro News<\/a>. Rania Ibrahim and her two children are believed to still be missing after being trapped in the 23rd floor. She had posted to Facebook Live<\/a> her ordeal and police had instructed her to remain inside. Thirty people have been confirmed dead<\/a> in the fire that launched a wave of protests<\/a> and anger at Prime Minister Theresa May.<\/p>\n

Other international stories breaking on a busy news weekend:<\/p>\n

<\/a> Biggest international story of relevance to Egypt: <\/strong>Israel, Greece and Cyprus have agreed to build the world\u2019s longest undersea pipeline to link Israeli offshore gas fields to Europe, Bloomberg reports<\/a>. The business information service notes that the expense of the pipeline and current low energy prices \u201cmay require additional gas findings offshore Israel to make it commercially viable.\u201d While the potential pipeline is years and bns of USD away, Israel already has a link to Europe through Egypt<\/strong> in the form of the Arish-Ashkelon pipeline, but it\u2019s effectively blocked by a USD 1.76 bn international arbitration award<\/a> won by Israel Electric against Egyptian state petroleum companies EGPC and EGAS and pipeline operator EMG. Israeli offshore giants Noble Energy (headquartered in the US) and Delek Group are looking to export gas to both Jordan and Egypt.<\/p>\n

<\/a> Biggest international story based on sheer \u201cfun\u201d factor:<\/strong> Amazon is making a bid for Whole Foods<\/a> \u2014 the high-end food market dubbed \u201cWhole Paycheck\u201d by fans and detractors alike \u2014 in a USD 13.7 bn transaction that the Wall Street Journa<\/a>l says is in part a play on the idea that \u201cmany shoppers still want to buy groceries at physical stores.\u201d The move is also being positioned as the next phase of Amazon\u2019s war on retailer Walmart.<\/p>\n

The WSJ\u2019s coverage<\/a> of the original transaction is great, but the piece you need to read to put <\/strong>it in context is by Christopher <\/strong>Mims, who writes for the newspaper<\/a>: \u201cWhy does a phone maker get into banking transactions? Why does a social network build a virtual-reality headset? Why does an online retailer buy a grocery chain? Amazon\u2019s bid to acquire Whole Foods is just the most extreme example of a larger, more consequential phenomenon: America\u2019s biggest tech companies are spreading their tentacles, pushing into complementary businesses in a play to sustain growth as they saturate the market for their existing goods<\/strong>.\u201d It\u2019s also one heck of a logistics play.<\/a> If you\u2019re browsing from your iPad or at your desk, hit the rail running down the left-hand side for more than a dozen additional WSJ stories on the merger \u2014 the paper has owned coverage of this one.<\/p>\n

Not a Journal subscriber? Check out coverage in the Financial Times<\/a> (paywall). The NYT\u2019s Farhad Manjoo has an interesting viewpoint<\/a>, and both Bloomberg<\/a> and Reuters<\/a> have the story, with the former noting<\/a> that grocery stocks in the US and Canada tanked on the announcement<\/strong> of Amazon\u2019s foray \u2014 and that Amazon could push Whole Foods to cut prices<\/strong><\/a> to help it shed its \u201cWhole Paycheck\u201d image.<\/p>\n

The specter of a tech giant buying into bricks and mortar has us dusting off our copy of David Sax\u2019s very good The Revenge of Analog: Real Things and Why They Matter<\/strong><\/a>.<\/p>\n

Tunisia is under pressure to fix its FX problem, but it\u2019s not likely to follow Egypt\u2019s <\/strong>example and fully float the dinar. <\/strong>That\u2019s the take-home from a Bloomberg piece<\/a> on currency liberalization measures contained in a draft bill now before the Tunisian cabinet.<\/p>\n

Other headlines with a skim this morning if you have a few minutes:<\/p>\n

Greece has been saved from default this summer<\/strong> after Eurozone ministers and the IMF announced on Thursday night an agreement that will allow Greece to make good on some USD 7 bn in debt repayments it owes in July. That said, they\u2019ve essentially just kicked the ball down the road. The Financial Times<\/a> explains why.<\/p>\n

Investors are starting to freak about corporate bonds in the US and Europe. <\/strong>Quoth the FT<\/a>: \u201cThe number of investors who think corporate bonds are overvalued has hit a new record high as the industry frets over the prospect of central bankers raising interest rates, as well as political uncertainty in the US and Europe.\u201d<\/p>\n

How bad is the quality of Uber coverage this morning? Lousy enough that either Arianna<\/strong>Huffington or three of millennials you\u2019ve never heard of are going to save the ride-sharing app<\/strong> from the meltdown of Travis Kalanick and the company\u2019s senior management. The New York Times<\/a> serves up the Arianna angle, while Bloomberg<\/a> looks at the three people who together account for almost all of the company\u2019s revenues.<\/p>\n","protected":false},"excerpt":{"rendered":"

Six Egyptians are reportedly among the estimated 76 people missing in the fire that engulfed London\u2019s Grenfell Tower last week, according to UK Metro News. Rania Ibrahim and her two children are believed to still be missing after being trapped in the 23rd floor. 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It is the second time in nine months the country has sworn in a president following the ouster of Robert Mugabe.\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\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":632750,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/02\/19\/could-a-missing-us-component-be-sabotaging-frances-rafale-sales-to-egypt\/","url_meta":{"origin":646547,"position":1},"title":"Could a missing US component be sabotaging France\u2019s Rafale sales to Egypt?","author":"enterpriseam admin","date":"19 February 2018","format":false,"excerpt":"Could a missing US component be sabotaging France\u2019s Rafale sales to Egypt? Talks over a potential sale of an additional 12 Rafale planes from France have floundered over the US refusing to export a key component of the Scalp missiles which come with the plane, France\u2019s La Tribune reported on\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\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":648931,"url":"https:\/\/enterpriseam.com\/egypt\/2017\/04\/18\/cairo-court-acquits-aya-hijazi-on-sunday\/","url_meta":{"origin":646547,"position":2},"title":"Cairo Court acquits Aya Hijazi on Sunday","author":"enterpriseam admin","date":"18 April 2017","format":false,"excerpt":"A Cairo court acquitted Egyptian-American activist Aya Hijazi and sevenothers associated with her Belady NGO of charges of human trafficking and child abuse on Sunday, Reuters reports. Prosecutors can appeal the verdict, which comes after Hijazi had been held for nearly three years for her work with street children. The\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\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":646273,"url":"https:\/\/enterpriseam.com\/egypt\/2017\/06\/11\/mays-snap-election-backfires-trump-accuses-comey-of-lying\/","url_meta":{"origin":646547,"position":3},"title":"May\u2019s snap election backfires, Trump accuses Comey of lying","author":"enterpriseam admin","date":"11 June 2017","format":false,"excerpt":"Among the international news stories worth a look this morning:Theresa May\u2019s snap election backfires: British Prime Minister Theresa May lost her majority in parliament after her ruling Conservative Party failed to secure the \u201csmashing victory\u201d she was expecting in a snap election, the New York Times reports. The election, which\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\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":649056,"url":"https:\/\/enterpriseam.com\/egypt\/2017\/04\/20\/aya-hijazi-walks-free\/","url_meta":{"origin":646547,"position":4},"title":"Aya Hijazi walks free","author":"enterpriseam admin","date":"20 April 2017","format":false,"excerpt":"Egyptian-American charity worker Aya Hijazi was released from detention late on Tuesday, her lawyers told The Associated Press. A court had acquitted her two days earlier of charges of human trafficking and child abuse.","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\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":648615,"url":"https:\/\/enterpriseam.com\/egypt\/2017\/04\/07\/people-just-arent-a-great-source-of-calories\/","url_meta":{"origin":646547,"position":5},"title":"People just aren\u2019t a great source of calories\u2026","author":"enterpriseam admin","date":"7 April 2017","format":false,"excerpt":"From the National Geographic: \u201cCannibalism Study Finds People Are Not That Nutritious.\u201d The bottom line: \u201cWhile our ancient ancestors did practice cannibalism, eating other humans just couldn\u2019t compare with taking down a mammoth.\u201d In other words, any of us with ancestors who ate someone else\u2019s ancestors probably did it for\u2026","rel":"","context":"In "SPEED ROUND, THE WEEKEND EDITION"","block_context":{"text":"SPEED ROUND, THE WEEKEND EDITION","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round-the-weekend-edition\/"},"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\/646547","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=646547"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/646547\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/646528"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=646547"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=646547"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=646547"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=646547"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=646547"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}