Good afternoon, ladies and gents. The news cycle is reasonably brisk as we kick off a new workweek.

THE BIG STORIES TODAY

The contraction in Egypt’s non-oil private sector deepened in October on the back of fewer new orders driven by increasing prices, EGP weakness and supply chain issues, according to S&P Global’s latest PMI figures (pdf). The index slipped to a five-month low of 47.9 in October, down from 48.7 in September, as inflationary pressures hit purchasing ability and led to staffing and stock reductions, indicating “the sharpest deterioration” in five months.

FX reserves continue to rise: Our net foreign reserves inched up to USD 35.1 bn in October, from USD 34.97 bn in September, according to central bank figures released today.

THE BIG STORY ABROAD

Updates from Israel’s siege on Gaza continues to lead the conversation in the international press:

  • 40 people were killed when Israeli forces attacked another refugee camp in Gaza early today. This comes after Israel rejected the US suggestion of a humanitarian pause and pressed on with their onslaught on land. (Associated Press)
  • US Secretary of State Antony Blinken met with Mahmoud Abbas, head of the Palestinian Authority during a surprise visitto the Israeli-occupied West Bank today. This comes as a part of a series of visits in the area to navigate the tension in the region. (Reuters | The Washington Post | The New York Times)
  • Over a hundred foreign-passport holders were left waiting to leave Gaza as the Rafah gates closed yesterday, with an eye to focus on the casualties in Gaza’s hospitals to ensure that they pass the gates, according to a border official in Gaza and a diplomat. (The Washington Post)
  • The death toll has reached 9,488 Palestinians, according to Gaza health officials. The numbers continue to rise as Israel’s military forces continue to attack the enclave by air, sea, and land. (Reuters)

HELP GAZA-

Want to support relief efforts in Gaza, but don’t know how? We’ve got you. More than 1 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 folks at Talabat are processing donations for a range of Gaza relief appeals by charities including the Egyptian Food Bank and Misr El Kheir. Pay in EGP using your credit card.

Or check out our list of charities to which you can make direct donations via bank deposit and / or Fawry.

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

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*** It’s Inside Industry day —your weekly briefing of all things industrial in Egypt. Inside Industry focuses each Sunday on what it takes to turn Egypt into a manufacturing and export powerhouse, ranging from initial investment and planning to product distribution, through to land allocation to industrial processes, supply chain management, labor, automation and technology, inputs and exports, regulation and policy.

In today’s issue: We have our Manufacturer of the Month column, wherein we profile an industrial player with a manufacturing base here in Egypt. Manufacturer of the month is dedicated to looking at locally bred or international players to examine the success and challenges that came with being a manufacturer in Egypt, as well as their paths forward. Today, we speak to stationary, textiles, furniture, home appliances, and sportswear manufacturer Mintra.

⛅ TOMORROW’S WEATHER- Expect the mercury to rise to 32°C at its peak and drop to a cooler 20°C in the evening, according to our favorite weather app.

The early morning fog will continue in the days to come — despite the heat that will hit us at midday — according to The EgyptianMeteorological Authority, making those early drives between 4am and 8am more tricky.

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