What we’re tracking on 06 September 2017
If we seem a bit giddy this morning, it’s because we’re high on the run of excellentnews in the past 24 hours or so. From reports that the CBE has cleared its trade finance backlog, to the Russians signalling the tourists may come back (after confirmations on Daba’a, of course — ah, conditionality), to Mohamed Salah’s winning goal, and finally, the fruits of President Abdel Fattah El Sisi’s trip to the 2017 BRICS Summit in China — we have more for you on all of this in Speed Round, below.
On that last note, El Sisi should be in the Vietnamese capital Hanoi today and tomorrow to meet with President Tran Dai Quang and other officials. Expect a number of agreements to be signed, according to statements from Investment and International Cooperation Minister Sahar Nasr, who added that the two sides are looking to collaborate on fish farming and shipbuilding. The visit is the first by an Egyptian head of state since diplomatic ties were first established in 1963 and is “expected to boost the traditional partnership between the two countries in all fields,” says Vietnam Plus.
All this positivity has wanting to be optimistic about the Emirates NBD PMI reading forAugust, which comes out this morning not long after we hit “send” and which can be accessed here. Here’s to breaking the bad streak that has plagued the index since Morgan Freeman first learned to shave. (Note we said “wanting” to be optimistic.)
Cabinet is scheduled to discuss today the executive regulations for the law on repossession of illegally occupied land, Prime Minister Sherif Ismail told reporters yesterday, Ahram Gate reports.
Emerging markets got more private equity love this year than in any other since records were first kept in 2008, with flows of USD 22 bn, a 50% jump according to the FT, which marshals data from the Emerging Markets Private Equity Association. More than USD 15 bn of that sum was invested in “emerging Asia” (China, India and South Korea) — and just USD 896 mn of it in Southeast Asia. MENA (USD 242 mn) and Africa (USD 580 mn) were on track for their worst year since 2010 “with investment targets shifting from big-ticket oil and infrastructure [transactions] to smaller, often technology-related” investments.
Hey, investment bankers / sales traders / other friends: This is how you recognize burnout before you’re burned out. It’s a nice primer from the NYT’s Smarter Living page, and we heartily endorse its final recommendation: Laugh, particularly at work. Want something a bit chattier and personal? Go read Nerd Fitness’ “What happens when you get burned out.”
Pink chocolate is a thing. But if it ain’t brown and doesn’t taste of classic cocoa, we’re not interested. The pink stuff, called “ruby chocolate” by Swiss chocolate maker Barry Callebut, is apparently fruity and has a “ruby” hue (sure looks pink to us). The Wall Street Journal and Bloomberg have coverage. We’re not going to dignify it with a photo. It is no more “chocolate” than that white stuff is, whatever type of “cocoa” may be used in its manufacture.
Our On Your Way Out section today introduces a new feature we’re calling “On This Day.” We hope you enjoy reading it as much as we plan to enjoy researching it. Send your own submissions at least a day ahead of time to email@example.com.
Oh, and we offer very warm greetings this morning to the hypocrites at the UK’s Northampton Borough Council in this morning’s Image of the Day.