Good afternoon, folks, and a very happy Thursday to us all. We hope you’ve a fantastic weekend.

THE BIG STORY TODAY

China Energy is speeding up renewable energy tech facilities in Egypt: China Energy is gearing up to set up manufacturing facilities for new and renewable energy technologies in Egypt in addition to its upcoming green hydrogen and green ammonia projects, the company chairman Song Hailiang said during his meeting with Prime Minister Mostafa Madbouly on the sidelines of the Forum on China–Africa Cooperation currently happening in Beijing.

Deepening presence in Egypt: China Energy plans to move its main headquarters in North Africa to Egypt, with 12 projects currently present in the country worth USD 2 bn, Song added. Madbouly has encouraged the company to accelerate the localization of solar energy photovoltaic industries, renewable energy storage batteries, and wind towers in Egypt, affirming the government’s will to provide any necessary incentives.

THE BIG STORY ABROAD

Despite Netanyahu’s insistence on retaining control over the Philadelphi Corridor, his Strategic Affairs minister says they are open to negotiation. Benjamin Netanyahu has publicly refused to cede control of the border between Egypt and Gaza, marking it as his priority in response to pro-ceasefire protests in Tel Aviv. Israeli Strategic Affairs Minister Ron Dermer now says that the Israeli PM is willing to discuss the issue once a ceasefire takes place, with the stipulation that the occupying state maintains a presence to prevent Hamas from rearming. Netanyahu has claimed that the border between Gaza and Egypt has been used to smuggle arms to Hamas, despite both parties rejecting these claims. (Bloomberg)

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

  • El Sisi touches down in Turkey: President Abdel Fattah El Sisi made his first officialvisit to Turkey yesterday, meeting with his Turkish counterpart Recep Tayyip Erdogan in the latest step toward strengthening relations between the former regional rivals.
  • TotalEnergies has a plan to put our LNG facilities to good use: French energy company TotalEnergies wants to supply gas from its fields in Cyprus to Egypt for liquefaction and re-export as LNG or to be fed directly into the grid.
  • My Morning Routine with Jaeyung Kwon: In our weekly section, we sat down with Jaeyung Kwon, the co-founder of Museeum, the retail management company specializing in curating gift shops of different heritage destinations, including the Grand Egyptian Museum.

☀️ TOMORROW’S WEATHER- The mercury is creeping up again tomorrow in Cairo with a high of 35°C before simmering to a low of 25°C by night, according to our favorite weather app.

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