Good afternoon, friends, and welcome to this busy Monday afternoon. More news is starting to hit our sphere as the international media comes back to work after their weekend.

Speaking of new, we launched our UAE edition this morning. Think of it as the UAE analogue to your morning read in Egypt — your essential report on business, finance, the economy, and regulation in one of the world’s most vibrant and exciting economies.

EnterpriseAM UAE is produced in the United Arab Emirates and in Egypt by the same team that brings you EnterpriseAM and EnterprisePM in Egypt as well as our MENA industry reports, Enterprise Climate and Enterprise Logistics.

** Stay tuned for the launch later this month of EnterpriseAM KSA. You can tap or click here if you’d like to be added to our list for launch day.

THE BIG STORY TODAY

Ezdehar announces purchase of minority stake in Yodawy: Local private equity firm Ezdehar Management has acquired a minority stake in pharmacy benefits management platform Yodawy, investing some USD 10 mn into the company, Ezdehar said in a press release (pdf). Ezdehar’s primary capital investment will focus on supporting Yodawy’s growth plans through expanding its client base, tech-enabled prescription capabilities, and aiding in solidifying Yodawy’s position in the healthtech sector in Egypt and the region, the company said.

THE BIG STORY ABROAD

Coverage of the battle for the US’ Republican party’s presidential nomination in the first nominating state is still leading the conversation in the international press this afternoon withcandidates trying to secure Iowa’s support in the final stretch of campaigning. Former President Donald Trump still holds a major lead and hopes to secure a victory tonight, putting him on track to oppose incumbent Joe Biden in the November election. The real battle is between Nikki Haley and Ron DeSantis as they fight for second place, the spot Haley currently holds. They’ll have to make up for lost time after last week’s campaign efforts were halted due to intense weather conditions, especially DeSantis who will likely face pressure to drop out of the running if he fails to move up the ranks. (Financial Times | Associated Press | Washington Post | Wall Street Journal)

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

  • As good as gold: Beltone Asset Management has been awarded the management of a newly launched gold investment fund that aims to raise EGP 10 mn by offering 100k certificates at a nominal value of EGP 100 apiece.
  • Madbouly signals importance of industry with monthly visits to manufacturers: The prime minister’s regular meetings with manufacturers comes in a bid to draw attention to Egypt’s natural position as an export hub serving Europe, Africa, the Middle East and beyond.
  • A grim milestone: On day 100 of the war on Gaza, Israel’s bombardment of the enclave and ground offensive has killed 24k people, injured over 60k injuries, and internally displaced over 85% of the population.

☀️ TOMORROW’S WEATHER- Expect another sunny day with a high of 19°C in the afternoon and a low of 12°C later in the evening, according to our favorite weather app.

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