Good afternoon, ladies and gentlemen, and happy Thursday. The weekend has finally arrived and we are still gearing up for this year’s EnterpriseAM Finance Forum on Tuesday, 24 September. We look forward to seeing many of you there.

THE BIG STORY TODAY

Egypt is to receive USD 129 mn of new investment through the USAID, according to a readout from the US Embassy in Cairo following the strategic dialogue between the countries in Cairo yesterday. The new funding aims to support “an economy driven by the private sector, advance public education, improve public health services, and strengthen responsive government institutions and transparency,” the statement reads.

Education was a key focus. The dialogue highlighted initiatives to establish nine additional STEM schools, upgrade 80 technical education institutions, and expand the US-funded University Career Centers to 19 more universities in Egypt. Agreements were made with three US universities to explore opening branch campuses in Egypt, providing local students with access to American education while preparing them for future job opportunities.

THE BIG STORY ABROAD

Israel twin attacks on Lebanon now has a confirmed death toll of over 37 and wounding 450. An Israeli military official acknowledged that they were responsible for the terror attack. Yesterday’s attack used the same method and killed over 12 people, including children. Hezbollah has announced its intentions to strike back in retribution as the UN High Commissioner for Human Rights Volker Türk called Israel’s bombardment a “violation of international humanitarian law.” (Bloomberg | CNN)

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

  • ACWA and HAU update investment ticket for mega wind farm: Saudi renewables giant ACWA Power and Hassan Allam Utilities (HAU) are reportedly set to secure close to USD 900 mn in financing by the end of the year for their 1.1 GW wind farm in Gulf of Suez.
  • Gas cylinders just got more expensive: The government has hiked the prices of butane gas cylinders by up to 50% as part of efforts to rationalize subsidies for fuel.
  • Turkey could reroute a portion of its LNG imports to Egypt in a few years: Turkish state-run gas company Botas has inked a ten-year agreement to import LNG from French energy giant TotalEnergies with the option to redirect cargoes to Egypt and Europe.

☀️ TOMORROW’S WEATHER- Temperatures are refusing to say goodbye to summer, and will be hiking back up tomorrow to a high of 38°C and a low of 24°C in the capital, according to our favorite weather app.

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