What we’re tracking on 1 7March 2021
Good morning, friends, and happy St. Patrick’s Day to all of you. It’s a pleasantly calm news morning here at home.
THE BIG STORY this morning: With 27 days left until Ramadan, the government is warning us all to be careful lest we trigger a third wave of covid-19. The message was all over the airwaves last night, as we note in Last Night’s Talk Shows.
THE BIG STORY INTERNATIONALLY: Russia tried to meddle in the US’ 2020 presidential elections to boost Donald Trump’s chances of landing a second term by pushing disinformation campaigns against then-candidate Joe Biden, according to a report from the Office of the Director of National Intelligence. The report also indicates that Russian President Vladimir Putin at least signed off on the efforts, and that Beijing had also been mulling — but ultimately decided against — a separate manipulation campaign. The story is on the front pages of the Financial Times, Reuters, the New York Times, and the Washington Post this morning.
*** CATCH UP QUICK from Tuesday’s edition of EnterprisePM:
- Banque Misr now holds 90% of CI Capital after completing the EGP 3.06 bn acquisition of a 65% stake yesterday.
- State-owned banks NBE, Banque Misr, and Banque du Caire are eyeing a piece of the new futures exchange company that is being up for grabs for financial institutions.
- We featured our analyst of the week: Ahmed Hafez, head of MENA research at Renaissance Capital.
Top-tier universities in the United States are seeing an “unprecedented” uptick in applications, including from Egyptian students, after standardized testing requirements were scrapped as part of the admissions process, the Wall Street Journal reports. The change in admissions requirements, coupled with universities’ wider scope of outreach by relying on online meetings with prospective students, means universities like Harvard and Princeton are expecting to see their student body demographics shifting somewhat in the upcoming academic year.
WHAT’S HAPPENING TODAY-
It’s interest rate week here and abroad: The US Federal Reserve wraps up its two-day meeting today, though observers say it is unlikely to hike rates this week, Reuters reports. Brazil will also review rates today. The Central Bank of Egypt meets tomorrow, with all 12 analysts we spoke with for our regular poll expecting rates to be left on hold. Turkey’s central bank will also review rates tomorrow (a hike is likely), as will Britain and Norway, while Russia follows suit on Friday.
Remember how we told you that we may all need vaccine passports to travel? The world is taking a step in that direction today when the European Union is slated to unveil a “digital green certificate,” the Financial Times reports. Some member states are at odds over the proposal, but the Telegraph writes that the vaccine passport could be a reality by June if the European Parliament signs off on it in time.
And it’s not just Europe that’s looking at the passports: Canada may adopt them, too. Prime Minister Justin Trudeau said that while passports probably shouldn’t be used to control access to flights or events domestically, it’s a different question for people arriving from overseas: “Internationally, the idea of vaccine credentials I think that's something very much worth looking at,” CTV quotes him as saying.
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CIRCLE YOUR CALENDAR-
Talking sustainable manufacturing with BEBA: The British-Egyptian Business Association (BEBA) will host a virtual conference on how Egyptian and UK firms can work together on sustainable manufacturing projects in Africa in the post-Brexit environment on Tuesday, 23 March. Check out the agenda here (pdf).
The second edition of the Egypt Retail Summit takes place at the Nile Ritz Carlton hotel next Tuesday 23 March, bringing together retail brands in Egypt and the region.
BEBA is holding a webinar on digital banking and fintech on Wednesday, 7 April, it announced yesterday. Register here.
Check out our full calendar on the web for a comprehensive listing of upcoming news events, national holidays and news triggers.
*** It’s Hardhat day — your weekly briefing of all things infrastructure in Egypt: Enterprise’s industry vertical focuses each Wednesday on infrastructure, covering everything from energy, water, transportation, urban development and as well as social infrastructure such as health and education.
In today’s issue: We talk to Sameh Shenouda, the new executive director and CIO of the Africa Finance Corporation, about infrastructure investment in Egypt and Africa.