Good morning, friends, and happy almost-Thursday. The news flow remains red hot as the new government gets sworn in.

THE BIG STORIES TODAY-

New cabinet sworn in: The new Madbouly cabinet has been sworn in before President Abdel Fattah El Sisi at the Ittihadiya Palace (watch, runtime: 11:18). Find out what each minister brings to the table in their bios published on the cabinet’s Facebook page.

Changes worth noting: Prime Minister Moustafa Madbouly got two deputies — Health Minister Khaled Abdel Ghaffar will serve as his deputy for human development and Transport and Industry Minister Kamel El Wazir will serve as his deputy for Industrial Development. Meanwhile, former governor of Suez Abdel Maguid Sakr has been appointed as defense minister.

THE BIG STORY ABROAD-

Elections continue to dominate the global news headlines, with the UK and the US squarely in the spotlight. Joe Biden’s candidacy for US president remains under intense scrutiny after last week’s disastrous debate performance, with sources inside the Biden campaign saying that VP Kamala Harris is the top alternative to replace him should he bow out of the race. On the other side of the pond, campaigning for Britain’s snap parliamentary elections wraps up today ahead of tomorrow’s vote, which is expected to result in a rout of Prime Minister Rishi Sunak’s ruling Conservative Party. Polls show the opposition Labour Party on a trajectory to lead by a 20 percentage point margin.

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

  • TMG unveils its first North Coast project: Talaat Moustafa Group (TMG) announced its first project in Egypt’s North Coast, a 23-mn square meter project with investments of around EGP 1 tn.
  • Al Ahly CIRA to set up four new international university models in Egypt: Al Ahly CIRA will develop four new international university models in Egypt under a newly-signed agreement with the Sovereign Fund of Egypt. Adsero Ragy Soliman & Partners was the Fund’s legal advisor on the agreement, while Al Tamimi & Company was the legal advisor for Al Ahly CIRA.
  • Over USD 100 mn worth of projects around the corner: Dutch lighting manufacturer Signify and local electrical solutions manufacturer Gila Electric are in talks with the government to launch four projects worth a combined USD 106 mn.

☀️ TOMORROW’S WEATHER- Expect an even hotter day tomorrow in the capital city, with the mercury rising to 42°C and dipping to 25°C.

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