Good morning, everyone. It’s a busy morning here in Egypt with price hikes leading the conversation — the Madbouly government yesterday announced hikes to the price of subsidized bread and a government source told us to brace for pricer electricity bills this summer.

HAPPENING TODAY-

Qalaa’s ordinary general assembly is meeting today to vote on its debt buyback plan. Shareholders of Citadel Capital Partners — the vehicle through which the company’s founders and top executives own their equity — will not be in attendance and will not get a vote, as per Financial Regulatory Authority.

PSA-

WEATHER- Prepare for another spring day in Cairo, with a high of 31°C and a low of 21°C, according to our favorite weather app.

It’s a little cooler in Alexandria, with a high of 28°C and a low of 19°C.

And over the weekend, expect to see a high of 36°C and a low of 23°C.

** DID YOU KNOW that we now cover Saudi Arabia and the UAE?

** Want to subscribe? Tap or click here to get your own copy delivered every weekday before 7am Cairo time — without charge.

WATCH THIS SPACE-

More privatization in the renewables sphere? The Madbouly government plans to exit renewable energy projects to allow the private sector to take the helm in realizing the country’s renewables targets, Asharq Business reported, citing an unnamed government official.

What’s next: While the New and Renewable Energy Authority — which currently owns solar and wind power plants with a total capacity of 1.6k MW — will not embark on new projects, it will go ahead with projects it had signed MoUs for with international companies, the official said. The estimated capacity of these projects is 50k MW.

Remember: Sales of the state-owned Gabal El Zeit and Zafarana wind farms are expected to wrap this year, with the IMF thinking they will be finalized before the end of June.

SPEAKING OF- A solar tender on the way? The Electricity Ministry will launch a tender for the 600-MW solar project in West Nile with the International Finance Corporation acting as a consultant, Al Borsa writes, citing a document seen by the outlet. No timeline was detailed regarding the tender as the ministry and IFC are currently preparing the conditions booklet.

THE BIG STORY ABROAD-

It’s a mixed bag on global front pages this morning as a number of stories captivate the attention of the business pages.

No verdict on Trump’s criminal hush-money trial. Jurors ended their first day of deliberation last night without reaching a verdict. The 12-person jury has to reach an unanimous agreement over a verdict, or else the judge will declare it a mistrial. Jurors deliberated for five hours and sent two notes asking questions of the judge. (Politico | AP | Bloomberg)

Speaking of The Donald: Will Elon Musk get a cabinet post if there’s a Trump White House v2? The two are now “friendly” and sources tell the Wall Street Journal that Musk could well be in line for an advisory role if there’s a remake of the Agent Orange Show.

MEANWHILE- BHP has abandoned its bid for mining group Anglo American after Anglo American refused to extend takeover talks. “We were unable to reach agreement with Anglo American on our specific views in respect of South African regulatory risk and cost and … we were not able to access from Anglo American key information required to formulate measures to address the excess risk they perceive,” BHP CEO Mike Henry said in a statement (pdf).

AND IN TECH- Gemini now speaks Arabic. Google’s Gemini and Gemini Advanced are now available to Arabic-speaking users — Gemini 1.0 Pro is available as a standalone Android app or as a tab in the Google app on iOS. The more advanced Gemini flavour, which is “capable of coding, logical reasoning, following nuanced instructions and collaborating on creative projects,” can be accessed for EGP 699.99 a month. Download it yourself: Google’s Play Store or Apple’s App Store.

Two notable firsts for women: Claudia Sheinbaum, who has a PhD in energy engineering, looks set to become Mexico’s first woman president when voters go to the polls this coming Sunday. And Yale has named Maurie McInnis, the respected historian, its next president. She’ll be the first woman to hold the job on a permanent basis.

ALSO WORTH READING THIS MORNING- From the Baby Boom to the Baby Bust, an op-ed by the FT’s Martin Wolf, details the challenges that come with falling fertility rates.

AND on the downside of working from home — US workers are increasingly lonely as they make fewer work friends with their workday dominated by virtual meetings and faceless chats.

Tags: