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Sunday, 24 September 2017

What we’re tracking on 24 September 2017

A very happy autumn to all of you, folks. It’s the best time of year, so far as we’re concerned: cooler weather, shorter days and the promise of another chance to grow the business, do better as a person and have more fun in the new year.

British trade envoy Sir Jeffrey Donaldson arrived in Cairo yesterday at the head of a delegation expected to announce new investments in infrastructure, health, transport, and other labor-intensive sectors over the course of a five-day visit, Al Masry Al Youm reports. The 14-member delegation, which includes representatives from Rolls Royce, Bombardier, and London International Patient Services, is scheduled to meet with officials including the ministers of investment, transport, trade and industry, and oil, in addition to Prime Minister Sherif Ismail and SCZone head Mohab Mamish, Al Mal reports. It seems most of the visiting companies do not have existing investments in Egypt.

Donaldson arrives as the UK’s credit rating has been downgraded on “Brexit and growthfears,” Reuters reports, noting that Moody’s made the call “a few hours after Prime Minister Theresa May” said she wanted a two-year transition period to get out of the European Union. The Financial Times has more. The UK has, meanwhile, given Uber a poke in the nose, with London saying the ride-hailing app will lose its license to operate in the city at the end of the month.

President Abdel Fattah El Sisi is heading to the UAE today for a two-day visit. Expect the Qatar Smackdown to be on the agenda, among other things, Al Masry Al Youm reports.

It’s election day in Germany today, and while Angela Merkel is widely expected to win re-election as chancellor, polls also suggest the country’s far-right could be back in the Bundestag “for the first time in half a century,” the Independent reports. It’s one of two closely-watched polls taking place this week as Kurds head to the voting booths tomorrow in a controversial referendum on independence from Iraq.

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