Good afternoon, wonderful people, and happy hump day. It’s so far a rather calm day here at home, but there’s plenty happening in our backyards.

THE BIG STORY TODAY

FX reserves continue to rise: Our net foreign reserves inched up to USD 34.66 bn in May fromUSD 34.55 bn in April, according toCentral Bank of Egypt figures. This is the eighth consecutive month that foreign reserves have increased.

THE BIG STORY ABROAD

The explosion of a major dam in the Kherson region, the Kakhova, in a Russian-controlled area in Ukraine is still making headlines in the international press. The dam and hydroelectric power plant is unleashing a flood of water and prompting evacuations as nearly 80 villages are under threat. The Ukrainian government has accused Russia of intentionally blowing up the dam and European Council President Charles Michel has blamed Russia and deemed this explosion a “war crime.” The Kremlin claims that this attack was prompted by Ukraine in an act of self-sabotage. Associated Press | Bloomberg | Reuters | FT | CNBC | BBC

ALSO- Former US Vice President Mike Pence has entered the 2024 presidential race against Donald Trump, the New York Times reports.

HAPPENING NOW-

US Secretary of State Antony Blinken is in Saudi Arabia today for a three-day visit to mend fences with the kingdom and discuss with Saudi officials including Crown Prince Mohammed bin Salman several issues including Iran, regional security, oil prices and the prospects of a Saudi-Israeli normalization, Reuters reports. Blinken’s visit comes after White House National Security Adviser Jake Sullivan visited the kingdom on 7 May.

ALSO- Kuwait began its third parliamentary elections in less than three years today amid stalled policy-making and internal conflicts between Kuwaiti political figures, Bloomberg reports. The elections bring 207 candidates to choose from — the lowest number of candidates since the 1996 polls. This round of elections comes after the country’s constitutional court dissolved parliament in April, just six months after MPs were elected.

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

ENTERPRISE IS LOOKING FOR SMART, TALENTED PEOPLE of all backgrounds to help us build some very cool new things. Enterprise — the essential morning read on all the important news shaping business and the economy in Egypt and the region — is looking for writers, reporters and editors to help us build out new publications. Today, we run four daily Egypt and MENA-focused publications, five weekly industry verticals, and a weekend lifestyle edition designed to make our readers feel just a bit smarter.

We have tons more in the pipeline — come help us build new publications. We offer the chance to work in a fast-paced newsroom on a broad range of topics and in a variety of formats. Our goal is simple: To create value for our growing community of >250k daily readers by telling stories that matter.

Journalists looking to explore business, finance and economic stories are welcome. So are recent journalism school graduates.

That said, we're looking for gifted story-tellers from all walks of life and across all professions, as long as they show a keen interest in learning to write about the stories, topics, businesses, and figures moving markets. Egyptian and foreign nationals alike are welcome to apply. So are job-switchers: If you’re an equities analyst tired of the rat race, we’re a great place to come work.

NEVER WORKED IN A NEWSROOM BEFORE? We have the Enterprise Business Writing Development Program. Whether you are a recent graduate, an industry vet, or looking to switch careers, the Enterprise Business Writing Development Program will give you the tools you need to tell the most important stories to our audience of C-suite officials, government ministers, diplomats, financiers, investors and entrepreneurs.

During the program you will learn:

  • The key news stories and trends shaping business and the economy in Egypt and the region, across various sectors;
  • Business and finance for non-finance people: Whether it's industry jargon or key concepts or simply how to read a balance sheet;
  • How to construct an Enterprise story: From idea formulation down to the structure, style and tone of writing;
  • How to develop sources that will give you the key insights needed to tell a complete story;
  • How to communicate these stories with the confidence and language of an insider.

Not an internship program — a career: The three-month program will see full-time, paid participants take part in workshops and lectures from veteran business journalists, while also working on and filing stories that will run on any of our publications. Those who have successfully completed the program, will then be given long-term job offers.

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

☀️ TOMORROW’S WEATHER- We’ll be seeing more clouds tomorrow with a high of 38°C and dipping slightly to 29°C in the evening, as per our favorite weather app.

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