Good morning, wonderful people, and happy Monday. The news cycle is only accelerating as the week continues and we have another packed issue for you today.

PSA- Eid Al Adha will begin on Wednesday, 28 June, Dar Al Ifta announced after confirming the sighting of the crescent moon marking the start of the lunar month of Dhul Hijjah, in statements here and here. We’re still waiting for official announcements on which days will be off to mark the holiday.

BEFORE WE GET UNDERWAY- At least one of us feels very old this morning — not because of the passing of a significant birthday, but because today marks the publication of the very first Enterprise story written by the Resident 15-Year-Old, whom we are pleased to announce has joined us as a summer news intern. For context: Said 15-year-old was barely seven years of age when we launched Enterprise. It feels as if it was just yesterday. As The Colonel always said: Time accelerates as you age.

THE BIG STORY here at home is the news that the International Finance Corporation (IFC) will come on board as an advisor to the state’s privatization program under an agreement it signed with the government yesterday. We spoke with IFC Managing Director Makhtar Diop about what to expect from the partnership.

Speaking of stake sales: This morning also brings news that PE outfit B Investments is looking to acquire a majority stake in financial services firm Orascom Financial Holding.

AND- Our regular interest rate poll is out: Most of the analysts we spoke to expect the central bank to keep interest rates on hold when its Monetary Policy Committee meets this Thursday, 22 June.

The Enterprise Finance Forum is our flagship gathering — the one so many of you have been waiting for. The two-day event takes place this September and will be the latest in our must-attend series of invitation-only, C-suite-level gatherings. Stay tuned for more information on the location.

TAP OR CLICK HERE if you want to express interest in attending. We’ll be sending out the first batch of invitations just after the 30 June holiday.

Do you want to become a commercial partner? Please click here.

STAY TUNED for more detail about our exciting agenda in the weeks to come.

HAPPENING TODAY-

The EU’s foreign policy chief Josep Borrell will meet with President Abdel Fattah El Sisi today, an EU statement read. Borrell met with Foreign Minister Sameh Shoukry and Defense Minister Mohamed Zaki yesterday for bilateral talks.

Assistance from EU on Sudanese refugees: The EU is providing Egypt with “immediate assistance” of EUR 20 mn to help address the “new wave of Sudanese refugees” on our southern border, Borrell said in a press conference with Shoukry yesterday. “I know this is not enough and you are going to pay much more, but at least, let us contribute a little bit in your support,” he told Shoukry.

More where that came from? Egypt is today co-hosting a hybrid “pledging event” with the UN, Germany, Qatar, Saudi Arabia, the African Union and the EU, to raise funds to pay for humanitarian assistance to Sudan and to aid the refugee crisis the war has created.

The latest in Sudan: The Sudanese Armed Forces and the paramilitary Rapid Support Forces have agreed to a fresh 72-hour ceasefire that came into effect yesterday morning to allow for aid deliveries to take place, a joint statement from the US and Saudi Arabia said.

IN THE SENATE-

The Senate will today continue discussions it began yesterday on unifying legislation governing cooperative and offering tax incentives to help them boost exports.

Most parliament-watchers are expecting the Senate to break for its summer recess after tomorrow’s session.

FURTHER AFIELD-

SCZone boss heads to India: Suez Canal Economic Zone (SCZone) Chairman Walid Gamal Al Din is in New Delhi to kick off a promotional roadshow looking to attract Indian investments to the economic and industrial areas in Ain Sokhna and Port Said, a statement said. The SCZone’s global tour has so far seen its representatives travel to China, Japan, the Netherlands, and Vietnam. President Abdel Fattah El Sisi visited India earlier this year, where he discussed potential investment in our infrastructure with local businesses.

India wants the AU to visit next: Indian Prime Minister Narendra Modi wants to make the African Union a permanent member of the G20 at the group’s summit in New Delhi this September, Reuters reports, citing an unnamed official source. The proposal comes as Modi wants to give African nations a push for more representation on the international stage, the source said. In addition to the G20’s permanent membership — 19 nations, along with the EU — the UN, World Bank, World Health Organization, Singapore, Nigeria, and Bangladesh will be attending the September summit as onlookers.

The African Export-Import Bank (Afreximbank) will continue holding its annual meetings in the Ghanaian capital today. The meetings run through to Wednesday.

Afreximbank wants African nations to end reliance on USD for regional trade: Afreximbankexpects 15-20 nations to have signed up by the end of the year for the Pan-African Payment and Settlement System (PAPSS), which aims in part to cut reliance on the greenback over time in regional trade, Afreximbank President Benedict Oramah told Bloombergahead of the annual meetings. So far, nine central banks have joined the platform since it was launchedlast year. While the platform currently uses USD as an intermediary currency, a mechanism is being developed to enable direct conversions between Africa’s 42 currencies, Oramah said. “What we are doing is to domesticate intra-African payments,” he said.

Egypt is one of the countries expected to join: That’s according to a source at the Central Bank of Egypt we spoke to yesterday, who didn’t disclose a projected timeline for doing so.

HAPPENING TOMORROW-

The House is back in session tomorrow to discuss a bill that would establish a national agency for intellectual property rights. On Wednesday, MPs are expected to discuss and vote on bills for oil exploration, joining an international convention on nuclear energy safety, and establishing the Egypt-based HQ of the African Space Agency.

FACT CHECK-

No final decision on electricity prices: The cabinet has yet to approve new electricity prices, a source at the Electricity Ministry told us yesterday, denying media reports over the weekend that claimed the government has decided to raise prices from next month. The prices circulating in the media are “mere estimations” and no final decision has been reached, they said. Recommendations for the new electricity tariffs were sent to the cabinet for approval almost two weeks ago.

So what could we see? Prices could rise 20-22% from the beginning of the next fiscal year, according to our source.

Remember: Residential electricity prices have been frozen over the past year to shield households from the rising cost of living. This has cost public finances around EGP 4 bn, our source told us.

THE BIG STORY ABROAD-

The eyes of the foreign press remain firmly on China as US Secretary of State Antony Blinken enters a second day of talks with Beijing officials. Blinken yesterday met with Chinese Foreign Minister Qin Gang, where he emphasized the need for “open channels of communication across the full range of issues to reduce the risk of misperception and miscalculation,” according to a US State Department spokesman. It is still not clear if Blinken will meet today with Chinese President Xi Jinping. (Financial Times | Reuters)

Missed this week’s Inside Industry? In our weekly vertical exploring all things industry and manufacturing, we asked industry players what they think of the Madbouly government’s new package of business reforms.

Check out our full calendar on the web for a comprehensive listing of upcoming news events, national holidays and news triggers.

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.

*** It’s Blackboard day: We have our weekly look at the business of education in Egypt, from pre-K through the highest reaches of higher ed.

In today’s issue: Beyond the bureaucracy, what challenges do investors face when setting up a new private or international school?

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