Good morning, wonderful people. We have plenty of FDI in store for you today (it leads the news well as well as Also On Our Radar) — and expectations that we’ll see further announcements today.

BUT FIRST, a programming note: We’re pleased to announce that we’ve migrated Enterprise Climate to our new web platform. Enterprise Climate readers will now enjoy a rich homepage, powerful search, and tools to allow them to share or listen to individual stories. Enterprise Climate is the leading newsletter covering the world’s most exciting industry on a MENA-wide scale.

HAPPENING TODAY-

#1-Shoukry in China to press for Gaza ceasefire: Foreign Minister Sameh Shoukry and a delegation of foreign ministers from Arab and Islamic nations are in China today and tomorrow to push for a deescalation of the conflict in Gaza, the Chinese Foreign Ministry said yesterday. Shoukry will be joined by his counterparts from Saudi Arabia, Jordan, and Indonesia, in addition to representatives from the Palestinian Authority and the Organization of Islamic Cooperation. This is the delegation’s first stop in a tour of P5 members of the UN Security Council nations aimed at ramping up pressure for a ceasefire.

Remember: China is the president of the UN Security Council for November.

#2- A high-profile Saudi business delegation arrives in town today. Egyptian and Saudi companies are expected announce new investments as a delegation led by Saudi Trade Minister Majid bin Abdullah Al Qasabi arrives in Egypt today for the Saudi-Egyptian Business Council. Speaking yesterday, council member Turki Al Hokair said his company would invest as much as USD 1.5 bn here next year in a range of sectors. We have that story in this morning’s news well, below.

The delegation will be in town two days ahead of the Egy-GCC Business Forum, which takes place on Wednesday. President Abdel Fattah El Sisi will open the forum, which is set to focus on manufacturing, renewable energy and desalination, agriculture, real estate, and tourism, among other sectors.

#3- Cairo ICT continues today at the Egypt International Exhibition Center. The tech industry gathering ends on Wednesday.

DATA POINT-

Import backlog eases in October: Egypt cleared USD 800 mn of goods during October, taking the total amount of goods still at ports to USD 3.9 bn, according to Al Borsa. FX shortages have hindered importers’ ability to pay for customs clearance, but the government has moved to address backlogs by scrapping burdensome requirements such as letters of credit (L/Cs) at the start of the year.

HAPPENING THIS WEEK-

#1- MERIS may be getting some competition: The deadline to apply for a credit rating license from the FRA is this Wednesday after it loosened requirements last year.

#2- Get ready for a whole lot of Egypt-bound Gulf investments in the days to come: The EGY-GCC Business Forum is kicking off this Wednesday and will wrap on the following day.

#3- Education, Education, Education: The Worldview Education Fair is kicking off on Thursday with representatives for 20 universities and business schools looking for bright and eager students to enroll.

THE BIG STORIES ABROAD-

Altman could return to OpenAI by the week’s end, if the company’s investors have their way: OpenAI’s biggest investors, including Microsoft and a handful of prominent VC firms, are urging the company to reinstate Sam Altman as CEO just days after the board sacked him, writes the Financial Times. Altman stepped back into the startup’s offices yesterday evening wearing a visitor’s pass, but it remains to be seen if his support from employees and investors is enough leverage to reverse the board’s decision.

The Verge reported that the board had initially agreed to resign under pressure from investors, but later said it had missed a late-Saturday deadline to do so.

The OpenAI story has thrown the AI industry’s “boomer vs doomer” clash into sharp relief for the global business press. Doomers hold that AI could be a catastrophe for the human race. Boomers see it unlocking a world of new potential. Particularly worth reading are takes from Bloomberg, the Economist, and CNBC.

ALSO- Former US First Lady Rosalyn Carter has died at age 96. Best known for her lifelong advocacy for mental health, Carter helped redefine the role of the “politically active” first lady and was instrumental in her husband’s run for the White House. US President Jimmy Carter brokered the Camp David agreements that led us to make peace with Israel. See obits in the New York Time | Wall Street Journal | Washington Post.

WATCH THIS SPACE-

#1-A logistics freezone on Libyan border + Egyptian-Libyan bank could be in the works: Libyan investors have proposed setting up a joint Egyptian-Libyan bank and a logistics zone near the Salloum border crossing, according to a statement from the Egyptian Businessmen Association (EBA) picked up by Al Arabiya. This came during discussions about the involvement of Egyptian companies in the Libya reconstruction effort.

Remember: A coalition of three local firms are in line to establish an integrated logistics zone at Salloum after signing an MoU with the government earlier this year.

#2- In this week’s second piece of chicken-related news: An Egyptian unit ofthe National Poultry Company is in talks to acquire an unnamed local poultry firm in 2024, the Jordan-based company’s General Manager Mansour Bin Ali told Asharq Business yesterday. The company is also looking to set up eight poultry stations next year to back its expansion plans in the Egyptian market, Bin Ali added.

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.

WAR ECONOMICS-

Trading with Yemen may be getting a whole lot pricier: Lloyd’s Ins. premiums for goods passing through Yemeni ports or by its coasts will rise 100-300% according to Al Mal, citing Apex Reinsurance Brokerage head Khaled Sayed. The ins. hike predictions follow the Yemen-based Houthi movement firing rockets and drones in Israel’s direction and the group threatening to attack Israel-linked ships.

What was that about threats to target cargo ships? A cargo ship reportedly linked to an Israeli businessman was hijacked by the Houthi movement yesterday and 25 crew members were taken hostage, AP reports.

ICYMI-

Missed this week’s Inside Industry? In our weekly vertical exploring all things industry and manufacturing: EgyptSat Auto secured its golden license, but are unclear industry standards in the way?

*** 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:Our executive education industry is adapting to new business realities.

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