Good afternoon friends, and happy Thursday. It is a slow news day in Om El Donia as the first full business week begins to wind down.

We have no local Big Story — but the regional events have begun to dominate our news cycle.

THE BIG STORY ABROAD

Tension between Pakistan and Iran is taking over the international press, but both sides want to nip it in the bud. After Iran attacked the Pakistani separatist group Jaish al-Adl two days ago, Pakistan retaliated with “killer drones and rockets” targeting Iranian separatist Baloch militants and killing more than nine people in a neighboring village. The two sides have never been chummy, but this marks the biggest conflict between them. With instability in the region already at a high from Israel’s war on Gaza, officials from both parties want to stop the tension before it escalates, with the Foreign Ministers from each nation hopping on a call to settle the dispute. China, an ally to both countries, is also keeping an eye on the situation. (Reuters | Bloomberg | Associated Press)

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

  • A record 14.9 mn tourists visited Egypt in 2023, in line with the state’s target to reel in 15 mn tourists during the year, despite the headwinds that the industry has been facing, Tourism Minister Ahmed Issa said at a cabinet meeting yesterday.
  • Prepare to bid farewell to a number of landmark retail shops? Kuwaiti retail conglomerate Alshaya Group, one of the region’s largest retail franchise operators, will be curtailing its business activity in Egypt on the back of FX pressure and difficult economic conditions.
  • We’re catching up with our 5G ambitions: The National Telecommunications Regulatory Authority (NTRA) has given state-owned Telecom Egypt the country’s first license to install and operate fifth generation (5G) networks at a cost of USD 150 mn.

🌤️TOMORROW’S WEATHER- Look out for a partly cloudy day with a high of 23°C in the morning before dropping down to 16°C, according to our favorite weather app.

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