Happy THURSDAY, ladies and gentlemen. It’s a reasonably brisk news afternoon here at home, with a light smattering of updates to take us into the weekend.

THE BIG STORY TODAY

Adnoc mulls takeover of Sawiris’ OCI: The Abu Dhabi National Oil Company (Adnoc) is in “preliminary talks” to acquire 100% of Nassef Sawiris-backed chemical producer OCI, Bloomberg reports, citing people it said are familiar with the matter.

OCI is weighing its options: The Netherlands-based company is eyeing other options including offering its US crop nutrient unit Iowa Fertilizers to Adnoc for more than USD 3 bn, sources told the business information service. OCI is currently considering potential divestments and “discussing with multiple potential buyers, for certain of its nitrogen assets are ongoing,” the company said in a disclosure to Euronext today.

We all know each other: Adnoc and OCI are already partners in MENA fertilizers firm Fertiglobe, a member of the consortium that commissioned Egypt’s first ever green hydrogen plant last year. Fertiglobe exported last month the world’s first ISCC PLUS-certified (International Sustainability and Carbon Certification) green ammonia from the Egyptian facility.

THE BIG STORY ABROAD

Monetary policy continues to dominate the international business press this afternoonafterthe Bank of England kept rates on hold today as inflation risks remain “skewed to the upside.” The bank said that it will need to maintain its tight monetary policy “for an extended period of time,” with potential additional tightening remaining a possibility if inflation persists. In the US, after forecasts of 0.75 percentage points of cuts in 2024, optimistic investors rushed to buy up as many stocks, bonds, crypto, and gold as they could causing stocks to surge, bond yields to tank, and front-end treasuries to post their best day since March. Overall, it was the best Fed day across assets in almost 15 years. (Bloomberg | CNBC | Financial Times | Wall Street Journal)

COME WORK FOR OUR ADVISORY ARM- Enterprise Advisory (formerly known as Inktank Communications) is looking for smart, talented people to help us tell the stories of exciting companies. Enterprise Advisory is the region’s leading investor relations advisory company and works on investor and strategic communications issues that take you deep inside the c-suite. Our clients are in Egypt, Saudi Arabia, the UAE, and beyond. Egyptian and foreign nationals alike are welcome to apply, but native-level verbal and written English fluency is a must.

WHO YOU ARE- We're looking for gifted storytellers with a minimum of four years of work experience in investor relations, finance, banking, economics, or a related field to develop cutting-edge products and maintain relationships with a portfolio of clients. Candidates should have a bachelor's degree or higher in finance, accounting, economics, business administration, or a related discipline. We're looking for someone whose passion for storytelling is matched with strong analytical and problem-solving skills, as well as the ability to interpret and present financial data — with a keen eye for details and accuracy.

INTERESTED IN APPLYING? To apply for the position, drop us a line at jobs@enterprisemea.com and mention “Enterprise Advisory” in your subject line. Please send a solid cover letter telling us a bit about who you are and why you’re a good fit for our team. We want to see your CV, but the most important thing is a cover letter that makes us want to pick up the phone and give you a call.

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

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.

☀️ TOMORROW’S WEATHER- A sunny day tomorrow with a high of 25°C during the morning and dropping to a cooler 15°C in the evening, according to our favorite weather app.

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