Good afternoon, wonderful people, and happy THURSDAY to us all. It’s a particularly sweet end to the week, as we’re halfway through Ramadan as we head into a weekend that promises to bring plenty of sunshine.

THE BIG STORIES TODAY

#1- Export Development Bank getting in on privatization program? The Madbouly government is reportedly looking at adding a secondary stake sale in the EGX-listed Export Development Bank to its rebooted privatization program, Al Mal reports, citing sources it says have knowledge of the matter.

#2- InstaPay now works abroad: The Central Bank of Egypt’s digital payments app InstaPay is now operational when being used outside of Egypt, according to a statement. The app — Egypt’s answer to Venmo — previously did not allow users to make payments through the digital network unless they were physically present in the country.

THE BIG STORY ABROAD

KSA + Iran’s diplomacy breakthrough: Saudi Foreign Minister Prince Faisal bin Farhan Al Saud and his Iranian counterpart Hossein Amir-Abdollahian met in Beijing today for the first time in more than seven years to discuss reestablishing diplomatic ties between the two countries, according to the Saudi Press Agency. The two discussed reopening their embassies, without specifying the timeline, and will move to resume flights between the two countries. This follows China’s peacemaking efforts which saw brokering a pact last month among the rival parties to restore diplomatic ties and reopen embassies.

The story is getting ink in the international business press this afternoon:Bloomberg | Financial Times | CNBC

** CATCH UP QUICK on the top stories from today’s EnterpriseAM:

  • Pachin battle continues: The bidding war for EGX-listed Paint and Chemical Industries (Pachin) continued yesterday after Eagle Chemicals again increased its offer in response to the improved bid by National Paint Holding lodged last week.
  • Fine gets Easy: Amman- and Dubai-headquartered hygiene products manufacturer Fine Hygienic Holding (FHH) has acquired Alexandria-based health and beauty company Easy.
  • Yesterday at the cabinet:Ministers approved new minimum wage tiers for public-sector workers and exempted thousands of tons of frozen poultry from customs duties.

? CIRCLE YOUR CALENDAR-

PSA #1- Start planning the next run of holidays:

  • Coptic Easter falls on Sunday, 16 April;
  • Sham El Nessim is on Monday, 17 April;
  • Eid El Fitr should land on or around Friday, 21 April (it’s still not clear what days will be official holidays);
  • Tuesday, 25 April, is Sinai Liberation Day, for which we’ll likely have a day off on Thursday, 27 April.

PSA #2- Need funding for a green project? You can now apply to the second round of the Smart Green Projects Initiative until the end of May, according to a Planning Ministry statement. Eligible projects must use technology solutions to address environmental issues, present evidence of feasibility or innovation, and provide a written acknowledgement that no awards have been received during the initiative’s first round, among other requirements. You can view the full list of criteria here and apply here.

☀️ TOMORROW’S WEATHER- This weekend is going to be a toasty one: We’re going to see daytime highs of 34°C tomorrow and 36°C on Saturday, while tomorrow’s evening low is expected to be 16°C and Saturday’s will be 21°C, our favorite weather app tells us.

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