Good afternoon, ladies and gentlemen, and happy almost-THURSDAY. The business news cycle is picking up steam as we race towards the weekend.

THE BIG STORY TODAY

Saudi’s Tamer Group eyes 30% stake in Egypt’s UCP: Saudi company TamerGroup is in talks to acquire up to a 30%-stake in Egyptian pharma wholesaler United Company of Pharma (UCP) for USD 35 mn, Asharq Business reported, citing two sources it says in the know. The agreement could be finalized before the end of the year, one of the sources said.

THE BIG STORY ABROAD

For the first time in a month, the fighting in Gaza is not uniformly topping headlines in the international press this afternoon, with US House elections getting more attention in some newspapers. Israel said it killed a manufacturer of Hamas weapons and “several fighters” as it continued to pummel Gaza with airstrikes, while Russia is beginning to take a critical position with Israel (Reuters | CNBC). Meanwhile, Democrats secured key victories in Senate elections, giving the party — and US President Joe Biden — a big boost (Bloomberg | Wall Street Journal | Financial Times).

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:

  • ACWA Power and Hassan Allam are going to start building the region’s largest wind farm in 2024: The partners expect to break ground on the USD 1.5 bn, 1.1 GW wind farm in the Gulf of Suez — the largest of its kind in the Middle East — early next year.
  • In a new phase of the war, Israeli ground forces entered Gaza City last night in what the Israeli Defense Forces are portraying as a ‘targeted operation’ aimed at destroying Hamas’ tunnels, eliminating ammo dumps, and killing its senior commanders.
  • A busy legislative cycle with 58 ‘priority’ draft laws: The Madbouly cabinet reviewed yesterday some 58 draft laws on its priority list ahead of submitting them to the parliament at a future date.

☀️ TOMORROW’S WEATHER- We’re looking at a Thursday that will be more or less the same as today’s weather, bringing us a daytime high of 30°C and a nighttime low of 18°C.

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