Good afternoon, folks. The news lull continues today as everyone (including us) is already in the long-weekend mode.

THE BIG STORY TODAY

Eni agrees to export EastMed gas through Egyptian facilities: Eni officials discussed with Oil Minister Karim Badawi leveraging Egypt’s poision as a regional energy hub to export gas produced from Eni’s fields in the whole Eastern Mediterranean region through the Egyptian facilities, according to a ministry readout. The Italian energy giant also agreed to ramp up its exploration and development activities and increase the number of operational rigs in its concessions in Egypt.

THE BIG STORY ABROAD

Kamala’s campaign continues, positioning herself as the Democratic Party’s best shot against Trump. US Presidential nominee Kamala Harris has hit the ground running to convince voters and the Democratic Party that her presidency represents the future of America. Harris has promised to focus on “building up the middle class,” extending health care, and building the foundations of social programs that offset economic challenges that remain at the forefront of voters’ concerns.

Since US President Joe Biden’s abdication on Sunday, Harris has managed to garner support from most major Democrats, raising USD 100 mn in the process. She has been framing herself as a “prosecutor running against a felon”, recounting her history of incarcerating people who have committed the same transgressions as Republican candidate Donald Trump. Trump is set to resume his campaign trail today, though the goalposts have shifted entirely since his time on the road as he faces an objectively stronger nominee. (Bloomberg | CNN)

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

  • The retail tranche of Act Financial’s IPO was 54.8x covered, with investorssubscribing to 3.3 bn shares — worth some EGP 9.5 bn — by the end of their subscription period yesterday.
  • Where does the long-awaited tax policy stand? The Finance Ministry is in the process of updating its tax policy framework so that it is more attractive to potential investors.
  • No more converting green areas into commercial areas: Prime Minister Moustafa Madbouly has directed Egypt’s governors to refrain from turning existing green areas into commercial areas

☀️ TOMORROW’S WEATHER- Mercury is peaking with a high of 39°C simmering to a moderate low of 26°C by night, according to our favorite weather app. And it’s much cooler in Sahel and Alexandria with a high of 31-33°C and a low of 25°C.

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