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Wednesday, 28 November 2018

More What We’re Tracking on 28 November 2018

Worried about the impact of Brexit tourism in Egypt? “So far Brexit fears do not appear to have reduced demand” for tourism to Egypt and North Africa, Peel Hunt analyst Ivar Jones tells the FT. Though still early days, summer 2019 bookings indicate travelers were “shifting to Turkey, Tunisia and Egypt and away from the Canary Islands,” he said.

The latest on Brexit: The European Court of Justice (ECJ) will decide “quickly” whether the UK can revoke its notice to withdraw from the EU under Article 50 of the Lisbon Treaty without agreement of the other 27 states, the ECJ said on Tuesday, according to Reuters. Opponents of Brexit are hoping that a ruling could open the door to a second referendum, despite UK Prime Minister Theresa May saying that no second vote will be held.

OPEC looks set to cut oil output when it meets on Thursday, 6 December, according to a global survey by Bloomberg of 36 analysts and traders. Bloomberg notes in a primer on what USD 50 oil means for the global economy.

The global business press is divided on whether Trump will de-escalate his trade war with China when he gets to Friday’s G20 meeting. The Financial Times says no, the New York Times says it could be in the cards.

Need your daily dose of crazy? The Donald slams Fed chairman Jay Powell, threatens to cancel his upcoming meeting with Vladimir Putin, and adds that he is “among those who ‘have very high levels of intelligence’ but are not ‘believers’ in climate change.” All that and more in a long sit-down with the Washington Post.

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