Good morning, folks. As expected, the month is already off to a busy start with big renewable investment news, M&A updates, PPP offerings in the pipeline, and much more. We’ve got plenty to get through this morning, so let’s jump right in.

PSA-

You’re going to want to make sure you pay your electricity bill on time from now on, after the Egyptian Electric Utility and Consumer Protection Regulatory Agency (Egyptera) introduced a 7% fine on overdue electricity bills. Households have 30 days to pay their bills until the fine comes into effect.

WEATHER- It’s another warm — but not too warm — day in Cairo today, with a high of 35°C and a low of 26°C, according to our favorite weather app.

Alexandria and the North Coast are also saying goodbye to the hottest part of the year, with a more manageable high of 32°C and a low of 23°C.

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

** Were you forwarded this email? Tap or click here to get your own copy delivered every weekday before 7am Cairo time — without charge.

ICYMI- Missed this week’s Inside Industry? In our weekly vertical exploring all things industry and manufacturing, we took a look into the state efforts to localize Egypt’s auto industry. Check out the story here.

HAPPENING TODAY-

Explore the future of digital commerce at Seamless North Africa. The two-day event is held at the Egypt International Exhibition Center today and tomorrow under the theme The Future of Digital Commerce Across North Africa. The event brings together mechants, enterprises, and SMEs in the e-commerce space as well as players in the fintech, banking, and retail sectors “to drive forward the future of digital commerce.” Take a look at the schedule here and register to attend here.

HAPPENING TOMORROW-

#1- Non-oil private sector activity to finally break its 44-month streak in the red? S&P Global will publish Egypt’s PMI figures for August tomorrow measuring the country’s non-oil private sector activity. Last month saw business activity hit its second highest level since August 2021.

#2- The Egypt International Airshow is kicking off tomorrow and running through to Thursday in El Alamein. The event will cover all things aviation — be it commercial, defense, and even space — and feature exhibitions from 200+ companies, discussions from industry leaders, and even aircraft flyovers and displays.

CLARIFICATION- We accidentally referred to Soha El Turky as the vice president and CFO of the EBRD in yesterday’s issue. El Turky left her post at the European Bank for Reconstruction and Development on 1 July after over four years with the organization.

THE BIG STORY ABROAD-

The war on Gaza continues to dominate headlines this morning on day 331 of the conflict. Israeli Prime Minister Benjamin Netanyahu faced increasing pressure from leaders abroad to accept a ceasefire. He’s also facing public pressure at home.

Crowds of up to 500k took to the streets in Jerusalem, Tel Aviv, and other Israeli cities to protest Netanyahu’s continued stalling on a ceasefire agreement, which protestors claim is impeding the return of the remaining 101 hostages. The country’s biggest labor union threw its weight behind protests early this morning, calling for a general strike with the apparent blessing of Israeli manufacturers and other companies.

The protests reflect an increasingly polarized Israeli society, say much of the commentariat, with right-wing politicians threatening to bring down Netanyahu’s political coalition if he accepts a ceasefire agreement. On the far right of the country’s already far right cabinet, Israeli Finance Minister Bazalel Smotrich called on the country’s attorney general to block the planned labor strike, accusing protesters of “fulfilling (Hamas chief Yahyeh) Sinwar’s dream.”

WHILE IN INT’L BUSINESS NEWS- On an otherwise quiet day in the world of business, Intel CEO Pat Gelsinger’s plan to rejuvenate the company’s fortunes is catching the attention of the international press. Gelsinger and other top executives are slated to present a plan to the company’s board later this month that will propose breaking up some of Intel’s key businesses in its efforts to start reclaiming some ground between it and competitors like chipmaker Nvidia.

AND OVER IN EUROPE- Germany’s far-right has taken its first state election since World War II, with the once-marginalized far-right Alternative for Germany (AfD) named the victor in the regional election for the state of Thuringia. The party won 32.8% of the vote, leading its main rival — the center-right Christian Democratic Union (CDU) — by a margin of over nine percentage points. Next door in Saxony, the CDU is expected to barely edge out the AfD with 31.9% of the vote to AfD’s 30.6%.

*** It’s Blackboard day: We have our weekly look at the business of education in Egypt, from pre-K through the highest reaches of higher ed.

In today’s issue: We take a look at how the caps on tuition hikes are impacting private and int’l schools. Check out the story in the issue below.

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