Good morning, all. Apologies for a later than usual issue today due to technical issues at Enterprise HQ. After a slow start to the week, we’ve got a packed issue for you this morning. Not only do we have a lot of news, but we’ve got some good news too — with the latest inflation data showing prices rising at their slowest in over a year. We’ve got this and much more in this packed issue, so let’s jump into it.

PSA-

The countdown to the Eid break begins: Saturday 15 June through Thursday 20 June will be off for all public sector workers in observance of Eid El Adha, according to a cabinet statement. We’re still waiting for confirmation from the Labor Ministry, Central Bank of Egypt, and the EGX that the private sector, banks, and bourse will follow suit.

WEATHER- Cairo is turning up the heat today, with a high of 38°C and a low of 25°C, according to our favorite weather app.

It’s also getting hotter in Alexandria, with a high of 32°C and a low of 22°C.

SPEAKING OF SCORCHING TEMPERATURES: Several MPs have urged the government this week to end rolling blackouts in Upper Egypt during heat waves that recently saw temperatures in Luxor and Aswan reach 49°C, Al Arabiya reports.

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WATCH THIS SPACE-

#1- Egypt to launch online medical tourism platform this month: The government is set to launch an online platform for medical tourism within the next two weeks, the Health Ministry’s medical tourism advisor Samih Amer, told Al Arabiya. The platform — which the government has been developing for the last year — will allow users to reserve spots in any hospital in Egypt and apply for and receive a visa for the medical treatment within 72 hours, Amer added.

To sweeten the pot: As an added incentive, patients will also be able to save 25% on EgyptAir flights and get better rates at hotels during their stay.

Remember: Egypt has been trying to position itself as a medical tourism hub to attract FDI and to open fresh FX revenue streams from patients from Africa, the Middle East, and Europe coming here for treatment on the back of our talented and well-trained medical staff and the competitive price point Egyptian hospitals can offer.

#2- EBRD to unveil an electricity project soon: The European Bank for Reconstruction and Development (EBRD) will announce a new electricity production project to be carried out in partnership with the private sector, the bank’s Egypt head Khaled Hamza told Al Arabiya, adding that we can expect the news during the Egypt-EU investment conference scheduled for 29-30 June.

Also in the pipeline: The bank has plans to take part in financing a “major” green hydrogen project in Egypt next year, Hamza said. Hamza also teased that the bank is interested in acquiring minority stakes in a few local banks.

HAPPENING TODAY-

#1- A new government to be formed by the end of the day? MP and TV presenter Mostafa Bakry said over the weekend that we should get ready for a new government to be formed by the end of today (watch, runtime: 1:33:28). We’re yet to hear anything official on the matter and some think it could take a little longer for a new government to form, including fellow talk show host Ahmed Moussa who thinks the “official announcement of the new government could be on Tuesday or Wednesday, or right after the Eid Al Adha break” (watch, runtime: 5:09 | 3:51).

#2- Shoukry attends day two of Brics FMs meeting: Foreign Minister Sameh Shoukry will participate in the second and final day of the meeting of Brics foreign ministers in Russia today.

Worth noting from day 1: Shoukry weighed in on cooperation mechanisms between Brics countries and cooperation on international and regional issues during his participation in two separate sessions. He also discussed the situation in Gaza and the need to boost locally-currency trade between Brics members.

On the sidelines: Shoukry met with his Russian counterpart Sergey Lavrov and South Africa’sInternationalRelations and Cooperation Minister Naledi Pandor. Both meetings centered around the war in Gaza and bilateral relations.

THE BIG STORY ABROAD-

Enter Apple Intelligence, Apple’s shot at establishing itself as an AI player to be reckoned with in partnership with none other than OpenAI. Apple boss Tim Cook the “next big step” that will see the iPhone and Macbook maker integrate ChatGPT on its devices and reintroduce Siri as the virtual assistant it was originally promised to be. Check out Axios’ full rundown of what to expect coming to an Apple device near you soon here or watch the full WWDC24 keynote here.

Not everyone is thrilled though, including Tesla CEO Elon Musk who took to his personal venting platform X to say that he would ban Apple devices at his companies if the tech giant integrates OpenAI into its operating systems on the back of it being an “unacceptable security violation.”

And that includes Wall Street, which despite the mostly excited media hype around the announcement saw Apple shares falling nearly 2% on the Nasdaq yesterday.

While in our neck of the woods, hopes for a ceasefire in Gaza are building again with the UN Security Council giving its backing to a US resolution to end the 248-day-old conflict that has already claimed over 37k lives.

And over in Europe, it looks like Macron’s wager on a snap election is at risk of backfiring, with the nation’s first opinion poll following the announcement forecasting Marine Le Pen’s far-right National Rally coming in first.

*** It’s Going Green day — your weekly briefing of all things green in Egypt: Enterprise’s green economy vertical focuses each Tuesday on the business of renewable energy and sustainable practices in Egypt, everything from solar and wind energy through to water, waste management, sustainable building practices and how you can make your business greener, whatever the sector.

In today’s issue: We take a look at MidEast funding in climate tech, where it’s going, and how much of it goes to Egypt.

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