Good afternoon, folks, and happy humpday. We have reached mid-week but the news cycle is still taking a breather.

THE BIG STORY TODAY

The carbon trading market officially has liftoff: Africa’s first carbon tradingmarket was inaugurated earlier today in a major “step toward achieving economic and environmental sustainability in Egypt,” Planning and International Cooperation Minister Rania Al Mashat said at the market’s official launch.

Remember: We heard yesterday that the FRA had wrapped up all the necessary requirements and procedures to register carbon emissions-reducing projects and kick start the market, which will allow companies to issue and trade voluntary carbon certificates in Egypt and Africa.

THE BIG STORY ABROAD

No one headline is in the spotlight today, but world leaders are bracing for an attack by Iran on Israel. Yesterday, White House spokesman John Kirby said that Israel’s allies, the US at the forefront, “have to be prepared [for] a significant set of attacks” after Israel called retaliation by Iran to the assassination of Ismail Haniyeh “increasingly likely.” US Secretary of State Anthony Blinken, no stranger to ceasefire talks, is expected to visit Qatar, Egypt, and Israeli leaders in an attempt to facilitate peace talks ahead of an imminent strike. (Bloomberg)

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

  • Eni to set up a fixed regasification unit in Damietta: The Madbouly government is in talks with Italian energy giant Eni to build a regasification unit, with investments of about USD 150 mn, in Damietta.
  • Subsidized loans for pharma players? The government has approved a EGP 7 bn of subsidized loans for pharma companies, offering them financing at an interest rate of 5-7% to help streamline meds production and secure necessary imports.
  • Egypt will set up a logistics zone in Rwanda, after the Rwandan side allocated the necessary land near its border with Tanzania.

☀️ TOMORROW’S WEATHER- Mercury is peaking at a high of 37°C before simmering to a moderate low of 26°C by nightfall, according to our favorite app. Sahel and Alexandria are seeing cooler weather, with a high of 31-33°C and a low of 26-27°C.

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