Good afternoon friends, it is finally Thursday. The news cycle has not ended yet as we are waiting, with bated breath, for the CBE’s next move from the MPC meeting that should conclude this afternoon.

THE BIG STORY TODAY

#1- Our second Samurai bond issuance has hit the market: Egypt successfully closed its second Samurai bond issuance, selling JPY 75 bn (c. USD 500 mn) of the JPY-denominated bonds in Japan, the Finance Ministry said in a statement today. Egypt closed its maiden Samurai bond issuance in March 2022, when it sold USD 500 mn of the securities.

Today’s issuance is part of the government’s efforts to diversify its sources of financing,extend the maturity of its debt portfolio, and drum up foreign currency, the statement reads. These efforts have seen FinMin close its maiden CNY 3.5 bn panda bond issuance in China less than two weeks ago.

#2- Prime Minister Moustafa Madbouly inaugurated the new school complex at the Cosmic Village today, according to a cabinet statement. The complex includes Futures Tech and Regent British School, which are run by CIRA Education, as well as Westview International Language School (WILS) and Scholars International Language School (SILS), which are managed by Egypt Education Platform (EEP). The complex — which seeks to cater to middle-income families by offering affordable, quality education — is a joint venture between the Sovereign Fund of Egypt (SFE) and the private sector.

THE BIG STORY ABROAD

Israel is pressing on with their ground invasion of Gaza as Biden is pushing the IDF for a pause, but just short of mouthing “ceasefire”. The heavy attack on the strip yesterday was met with counter offensives from Hamas as they relied on guerilla-war like tactics to resist the Israeli advances into the northern area of the city which is reportedly a Hamas stronghold.

The Palestinian death toll continues to rise as the number of lives lost has reached 9k since the fighting began on October 7.

Most of the western media is running the story — get more from Reuters, Financial Times, and the Associated Press.

HELP SUPPORT GAZANS-

Want to support relief efforts in Gaza, but don’t know how? We’ve got you. More than a mn people in Gaza have been thrown from their homes and every human being there lacks access to food, water, and fuel amid the most intense bombardment any population has endured this century. The charities we’re listing below are Egyptian organizations working on Gaza relief that we think you can trust if you want to make a donation.

#1- Egyptian Red Crescent Society is one of the nation’s leading providers of humanitarian and emergency medical services. The Egypt Red Crescent accepts donations in EGP online and is on Fawry with the service code 99981. You can also donate to the organization through this Banque du Caire account: 49/403/30 (EGP) or 1065/601/30 (USD — code: BCAIEGCX030).

#2- Egyptian Food Bank: The food bank has launched “Aid Gaza,” a hunger-relief campaign to supply essential food items to the people of Gaza. You can make an online donation through EFB’s website or the unified bank account number 888777 at every bank in Egypt. Do you live abroad? The EFB has a list of its verified accounts at major institutions (along with account numbers) here.

#3- The Mersal Foundation is a non-profit medical organization running medical aid convoys to Gaza. It is on Fawry using service code 9200 or you can donate through its EGP accounts at major national banks including CIB (100034654454), Banque Misr (5450001000003297), Emirates NBD (1019409332701), National Bank of Egypt (1953071376769426268), AAIB (1015996610010201), QNB (7352031181714268). The group lists other ways you can donate on its Facebook page.

#4- Lifemakers: The NGO, which has a record of providing medical, educational and social care services to Palestinians, has been helping to prepare aid convoys ahead of dispatch to deliver food, medical supplies, water, blankets, clothing, and other essentials to the besieged Gaza strip since the outbreak of the Israel-Hamas war. Donate through the foundation’s website or use Fawry code 950. Lifemakers also accepts donations for Gaza relief in EGP via CIB (account 100034226827) and NBE (0773070478998401017).

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

HAPPENING LATER TODAY- It’s interest rate day: The Central Bank of Egypt is expected toleave interest rates unchanged when it meets this afternoon, according to a majority of the analysts we surveyed this week.

☀️ TOMORROW’S WEATHER- Look for a high of 31°C during the daytime with a drop in the climes to reach 21°C in the evening. The temperature will continue to climb over the week reaching its highest point by Sunday. Hopefully by Monday the heat will break and we’ll be feeling weather that resembles fall — does that season even exist in Egypt?

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