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Tuesday, 24 August 2021

THIS MORNING: Pfizer gets OK from FDA + G7 talk Afghanistan today

Welcome to hump day, wonderful people. There’s no single story dominating the news agenda as the nation remains firmly set in “vacation mode” heading into the second-to-last weekend of summer.

And frankly, we’re still digesting the fact that the delta variant is now in Egypt. And the notion (it’s smart policy) that we may all have to show vaccine certificates if we want to attend large gatherings. Health Minister Hala Zayed made the announcements at a press conference yesterday that dominated the airwaves. Zayed also announced that made-in-Egypt Sinovac will start rolling out today nationwide. You can check out our EnterprisePM coverage here or zip down to Last Night’s Talk Shows to see how it played with the talking heads.

Rejoice: The EGX30 is back in positive territory for the year after the benchmark index gained nearly 2% in trading yesterday. The 30 recently clawed its way into positive territory before slipping alongside global markets.

THE BIG STORY ABROAD? It’s a mixed bag. At the head of the pack: Pfizer now has full regulatory approval in the United States (it was previously being used under an emergency authorization), prompting US President Joe Biden to call on companies to require all workers to get the jab. Wall Street appears happy with Pfizer having gotten approval, and Fortune has a nice list of major US companies that have made the jab mandatory for all of their staff.

Over in Afghanistan, there’s speculation that US President Joe Biden will have to extend the deadline for the evacuation from Kabul. The Taliban aren’t down with the idea. Meanwhile, G7 leaders are set to discuss the situation in Afghanistan today at a (virtual) meeting called by the UK’s Boris Johnson.

PSA- There’s good news for the men of our tribe: A new molecule has proven a game changer for guys with advanced prostate cancer, in many cases stopping the disease in its tracks. The pill of avodart-dutasteride.com has already proven very effective against certain types of breast cancer (it targets the same BRCA mutation), and trials say it now works well against many forms of the disease in the prostate. The UK’s Times has the story.

HAPPENING TODAY- The Tokyo 2020 Paralympics open today, with competition starting tomorrow. The event runs through 5 September, with Egypt sending a 49-athlete-strong team to the games. We’ll have a full rundown of expected day one highlights in this afternoon’s EnterprisePM.

Also today: MEED will hold a webinar titled Energy Transition in the Middle East, at 12pm CLT today.

***CATCH UP QUICK with the top stories from yesterday’s edition of EnterprisePM:

  • The delta variant is in Egypt and Egypt-made Sinovac is available as of today, Health Minister Hala Zayed said at an epic presser yesterday. Vaccination may soon be compulsory if you want to attend a large gathering. And a manufacturing agreement with a European vaccine maker will be announced soon.
  • EKH expanding into financial services: Egypt Holding Kuwait (EKH) plans to launch a microfinance firm called Bedayti during 4Q2021.
  • Market roundup: The EGX30 rose 1.8% yesterday with turnover of EGP 2.21 bn, 37.2% more than the 90-day average.

MORNING MUST READ- Richard Branson's space ambitions are getting a boost: The Virgin group founder and bn’aire’s satellite-launching startup Virgin Orbit could receive an investment from planemaker Boeing later this year through a planned USD 3.2 bn SPAC listing on the Nasdaq, the Wall Street Journal reports. While Boeing did not disclose how much it was investing, the planned investment comes as the company struggles to recover from a turnaround in its space business after the grounding of its Starliner spacecraft earlier this month due to faulty valves.

CIRCLE YOUR CALENDAR-

It’s Jackson Hole week: The Federal Reserve Bank of Kansas City’s annual gathering of central bankers and policy makers at Jackson Hole will take place on Friday, 27 August. This is the second year in a row that the gathering will be online as the local case count climbed in Wyoming. Look for signals coming out of the gathering that the Fed may start tapering off stimulus this fall.

Check out our full calendar on the web for a comprehensive listing of upcoming news events, national holidays and news triggers.

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*** It’s Going Green day — your weekly briefing of all things green in Egypt: Enterprise’s green economy vertical focuses each Tuesday on the business of renewable energy and sustainable practices in Egypt, everything from solar and wind energy through to water, waste management, sustainable building practices and how you can make your business greener, whatever the sector.

In today’s issue: Green hydrogen seems to be the green economy’s latest buzzword, with initiatives in developed and developing economies alike touting the environmentally friendly energy source as an efficient alternative to fossil fuels. We take a look at what green hydrogen is and tackle Egypt’s green hydrogen production ambitions, and the possibilities of the nascent sector.

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