Happy THURSDAY-equivalent, ladies and gentlemen. We’re in the last few hours of this abridged workweek as we head into a long weekend.

And we’re getting another long weekend next week, too: Next Thursday, 5 October will be a national holiday in observance of Armed Forces Day, which falls on Friday, Prime Minister Moustafa Madbouly said in a statement today.

EnterprisePM will be back on Sunday: EnterpriseAM and EnterprisePM are off tomorrow and will be back in your inboxes at our customary times on Sunday, 1 October. Our regional publications (Enterprise Climate and Enterprise Logistics) will still publish tomorrow, as will Enterprise Weekend.

THE BIG STORY TODAY

China Eximbank is reportedly set to extend us a USD 400 mn loan for the light rail transit (LRT) system, Asharq Business reports, citing sources it says have knowledge of the matter. The loan will be earmarked for the third phase of the LRT, which will include four stations across 20.4 km.

THE BIG STORY ABROAD

Evergrande CEO Hui Ka Yan is under residential surveillance, following the wealth management staff’ s detention last month. This kind of informal detention is without official charges but he will have restrictions on his movements and communication outside of China. This news comes after compounded skepticism over the company’s restructuring plan as a result of its debt that can lead to failure and possible liquidation. (Bloomberg | Reuters)

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

  • One thing off the IMF’s checklist? The IMF is starting to believe the government is serious about its ambitions to sell down state assets, a change in sentiment that it says could ease the path towards the all-important review of our USD 3 bn loan program.
  • We could be getting 1 mn tons of Russian wheat: Egypt is reportedly in talks with the Russian government to purchase 1 mn tons of wheat for delivery this season.

☀️ TOMORROW’S WEATHER- The mercury will rise again to a high of 38°C and drop to a cooler 27°C in the evening, according to our favorite weather app.

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