Good afternoon, wonderful people, and happy almost-THURSDAY. It’s another relatively slow day on the home front today as we trudge towards the weekend.

THE BIG STORY TODAY

Suez Canal revenues are expected to hit USD 8.8 bn in 2023, which would mark a 10% y-o-y increase, Suez Canal Economic Zone head Osama Rabie tells Asharq Business. The forecast is based on the waterway’s revenues during the first quarter of the year, which came in at USD 2.3 bn, Rabie noted. 2Q 2023 revenues are expected to come in at around the same level, he said.

THE BIG STORY ABROAD

The star of the show in the international business press this afternoon: The US’ debt ceiling talks, after Democratic and Republican lawmakers made little progress yesterday. Stock markets in Europe and Asia fell as the stumbling talks coincided with UK inflation figures cooling less than expected, CNBC notes, while the Wall Street Journal explains that disagreements over government spending levels are at the heart of the debt negotiations. Meanwhile, Reuters is out with an explainer on how all of this affects average US citizens.

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

  • The AfDB has raised more finance than expected for water projects in Egypt: The African Development Bank (AfDB) has mobilized USD 2.2 bn to improve Egypt’s water security under the government’s Nexus for Water, Food and Energy (NWFE) program.
  • Officials called for new legislation to reduce red tape for industrial projects during a session at the National Dialogue yesterday.
  • Egypt-Oman fund could make investments before the year is out: The joint fund being set up by the Sovereign Fund of Egypt (SFE) and the Oman Investment Authority (OIA) plans to start making investments in 4Q 2023.

COME WORK FOR OUR ADVISORY ARM-Enterprise Advisory (formerly known as Inktank Communications) is looking for smart, talented people to help us tell the stories of exciting companies. Enterprise Advisory is the region’s leading investor relations advisory company and works on investor and strategic communications issues that take you deep inside the c-suite. Our clients are in Egypt, Saudi Arabia, the UAE and beyond. Egyptian and foreign nationals alike are welcome to apply.

We’re running a four-month training program for fresh grads and career switchers and will hire every successful grad of the program.

Apply directly to jobs@enterprisemea.com and mention “advisory development program” in your subject line.

☀️ TOMORROW’S WEATHER- Another sunny, warm day: Our favorite weather app suggests the mercury is set to peak at 36°C and fall to 22°C tomorrow.

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