Good afternoon, friends, and welcome to this manic Monday. We have a busy issue with you packed with some COP28 and AI updates.

THE BIG STORY TODAY

Fresh funds for the LRT project from China: Chinese companies AviationIndustry Corporation of China (AVIC) and China Railway Major Bridge Engineering Group will provide the National Authority for Tunnels (NAT) with a USD 250 mn soft loan to finance the fourth phase of Cairo’s electric light rail train (LRT) project, Asharq Business reports, citing government officials it says are familiar with the matter. The two companies will round up the funds from international institutions and banks.

THE BIG STORY ABROAD

Taking over international headlines today is still the Israel-Hamas temporary ceasefire.Previously set to end tomorrow morning, there are efforts to extend the truce after Hamas released another batch of hostages yesterday. Both sides, as well as US President Joe Biden, seem open to the idea of an extension, if it means the exchange of more hostages and prisoners. Although Netanyahu — who welcomed a longer truce — said that after the pause Israel would still go about realizing their goals of “eliminating Hamas, ensuring that Gaza will not go back to being what it was,” Bloomberg notes. More on the story: Washington Post | Wall Street Journal

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

  • Price controls on sugar coming? Merchants have 10 days to regulate skyrocketing sugar prices before the Supply Ministry asks the cabinet to consider introducing price controls.
  • It’s business as usual for our tourism sector, despite the Gaza war: Tourists have continued to arrive in Egypt in greater numbers than last year since the war in Gaza started seven weeks ago, defying pessimistic outlooks that accompanied the conflict.
  • Hassan Abdalla gets another year as CBE governor: President Abdel Fattah El Sisi has reappointed Hassan Abdalla as the governor of the Central Bank of Egypt for a second one-year term as part of a wider board shuffle.

?️ TOMORROW’S WEATHER- Look for a high of 21°C during the day tomorrow and a drop to 14°C in the evening, according to our favorite weather app.

Tags: