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Good afternoon, friends, and happy ALMOST-Thursday. We have a reasonably steady news day as the week draws to a close.
** PSA- EnterprisePM, along with Enterprise AM, Climate, and Logistics, will be taking a publication break tomorrow and will be landing again in your inboxes on Sunday. You can still expect to receive the Weekend Edition on Friday morning, as per usual.
THE BIG STORY AT HOME + ABROAD-
After weeks of mediating negotiations, Egypt lauds reaching humanitarianpause agreement in Gaza: President Abdel Fattah El Sisi welcomed the humanitarian truce in Gaza, applauding the joint mediation of Egypt, Qatar, and the US and reiterating Egypt’s commitment to reaching a final sustainable end to the war on Gaza. The truce is set to come into effect within 24 hours, AlQahera News (watch, runtime: 4:15). Qatar also welcomed the agreement in a statement out this morning, thanking Egypt and the US for their work in the mediation.
The truce agreement entails a four-day pause in military action in exchange for the return of at least 50 women and children from among the over 200 hostages held by Hamas in Gaza since 7 October, reads a statement by the Israeli Prime Minister’s office. This pause should also allow for the entry of hundreds of trucks carrying humanitarian aid, as well as fuel for humanitarian needs. The agreement also accepted Hamas’ demands to release at least 150 Palestinian women and children currently held in Israeli prisons, according to Al Qahera News, AlJazeera, and Reuters.
HAPPENING NOW-
Jordan’s King Abdullah in town: King Abdullah has made a surprise visit to Cairo, Extra News reports (watch, runtime: 0:53). The visit will see Jordan’s King and President Abdel Fattah El Sisi discussing the latest developments in Gaza, including calls for a full ceasefire.
Erdogan could be visiting, too… Turkey’s President Recep Tayyip Erdogan could reportedly touch down in Cairo “soon” to discuss accelerating the evacuation of wounded Palestinians from Gaza, the Turkish leader told reporters today, writes Reuters. The visit — a first since diplomatic relations between Egypt and Turkey broke down in 2013 — comes as Erdogan calls for the Islamic world to be a “single fist” when discussing Gaza.
WITH THE PAUSE IN FIGHTING, GAZA IS NOW IN NEED OF MORE AID-
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 pause in fighting means that there’s a chance to support Gaza with more aid that will make a difference.
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:
- e-KYC coming next year? The Central Bank of Egypt (CBE) plans to roll out e-KYC, or an electronic know-your-customer process, deputy assistant governor of the CBE Ehab Nasr said.
- State asset sales to underpin stronger economic growth this year -BMI: The Egyptian economy will see improved growth this fiscal year on the back of the government’s privatization program, though the war in Gaza will add to the headwinds bearing down on the economy.
- Turkey’s Hayat is borrowing to expand in Egypt: Emirates NBD Egypt has signed a EUR 30 mn medium-term loan agreement with Turkish sanitary product company Hayat’s local subsidiary Hayat Egypt to help it finance a new USD 70 mn tissue factory in Ain Sokhna.
☀️ TOMORROW’S WEATHER- Look for sunny skies tomorrow as the mercury peaks at 26°C in the day and drops to a chilly 16°C in the evening, according to our favorite weather app.
