What we’re tracking on 4 January 2021
Good morning, friends, and Happy Monday on this holiday-shortened week. It’s lights-out at close of play on Wednesday as the nation downs tools to observe Coptic Christmas on Thursday. A very happy holiday to everyone who is celebrating.
We’ve got a cheat code for you this morning — with two caveats: *155#. If you’ve ever signed up for a promotion, entertainment service or game through your mobile carrier — or “been subscribed” or had your kid mess with your phone and find you have a recurring charge on you tab — you’re in luck.
SMART POLICY- The NTRA just gave you the power to see who’s chiseling you for 50 piasters a day:
- Go to your Phone app and switch to the dialpad.
- Now tap in *155# and then press dial and follow the menu prompts
The caveats: You can’t unsubscribe from the (endless) feed of spam SMS that certain companies insist on pushing through the pipe (you know who you are, and you stink). And if you’re on a corporate line, the dial code doesn’t work — you’ll have to go through your company’s authorized rep with the phone company.
WHAT’S HAPPENING TODAY-
We’re getting the details of the government’s natgas transition plan this week: The expo for the government’s multi-year natural gas transition plan — the Go Green Exhibition — kicks off today and runs until Wednesday at the International Exhibition Center in New Cairo. The Trade and Industry Ministry is expected to announce how it plans to outfit existing vehicles with natural gas engines as part of its strategy to cover 70k cars that have been on the road for over 20 years in 2021 — including 55k taxis and passenger cars and 15k microbuses.
Bankers, take note: The ministry also seems to be lining up funding from local lenders to set up natgas refueling stations including at least EGP 500 mn from the Industrial Development Bank.
Need to get caught up on the program? We’ve got you covered here.
What could impact global markets this week? The Saudi GCC summit, China telecom company NYSE delistings, and Georgia Senate runoffs in the US of A.
GCC leaders will gather in Saudi tomorrow with an eye to finding a resolution to the 3.5-year diplomatic row with Qatar, AFP reports. The outgoing Trump administration has ramped up pressure on Egypt, the UAE, Saudi Arabia and Bahrain to bury the hatchet with Qatar and unite to confront Iran.
Egypt seems willing to go along with the idea and together with the UAE has publicly backed the talks as well as what appears to be shuttle diplomacy by Kuwait. But while sources say that an agreement on further talks and trust-building measures is in the works, it doesn’t yet enjoy the full support of all the boycotting countries.
MARKET WATCH- Just how long can the “buy everything rally” go on for? asks the Wall Street Journal. Analysts say the post-corona crash melt-up could have a while still to run as appetite for risk shows no sign of slowing, despite the troubling fundamentals. Fund managers are trying to make their clients focus on the latter half of 2021, which is when they’re predicting a full recovery and an economic boom.
THE DOWNSIDE RISK: A nice, big, fat bubble waiting to burst.
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CIRCLE YOUR CALENDAR-
The usual news triggers to keep your eye on over the next several days:
- PMI: Purchasing managers’ index figures for December will land tomorrow at 6:15am CLT.
- Foreign reserves data for last month should be out later this week.
- Inflation figures for December are due out on Sunday, 10 January.
We’re keeping our eyes peeled for any updates on a potential visit from US Treasury Secretary Steven Mnuchin sometime this week as part of a brief regional tour that will also take him to Sudan, the UAE, Israel, and Qatar. This would be his last overseas trip as a White House official.
Check out our full calendar on the web for a comprehensive listing of upcoming news events, national holidays and news triggers.
MORNING MUST READS-
Wild guess: You have “exercise more” on your list of resolutions but you’re still trying to peel yourself off the couch. Take comfort from the fact that you’re probably not alone — and you can get your heart racing right at home with this list of fitness apps courtesy of the Wall Street Journal. Worth considering rather than trudging into the gym during this second wave of corona.
Once you get started, don’t stop until you’ve hit the 66-day mark. That’s how long studies have shown it takes for most people to develop a new habit that is likely to become a more permanent fixture of your lifestyle. The benefits aren’t just about your Sahel bod — adults who lead an active life generally have better physical health (including lower susceptibility to chronic disease, improved sleeping patterns and mood, among others), which in turn can have financial upsides, not least of which is a lower healthcare bill.
ALIEN WATCH- Predictions that aliens would land on earth didn’t pan out last year, but the US Senate is keeping an eye out. The USD 2.3 tn spending bill US President Donald Trump signed at the end of last month includes a request from the Senate Intelligence Committee for the Pentagon to submit a report within six months on all UFO sightings and analysis, according to the New York Post. H/t Mostafa S.
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