Good afternoon, all. It is officially the first day of fall and we can’t wait for the temperature to drop.

THE BIG STORY TODAY-

Egypt seeks more Israeli gas: The Madbouly government is reportedly planning to increase its imports of Israeli gas by 20% to 1.2 bn cf a day starting next month in efforts to cut down on LNG imports for the winter period, a government official told Asharq Business.

THE BIG STORY ABROAD-

The foreign press is still focused on the rising tension between Israel and Hezbollah following the Israeli airstrike on Beirut’s southern suburb that killed senior Hezbollah commander Ibrahim Aqil and 15 other members. Israel’s army noted over 100 rockets having been fired across the border overnight in response, with BBC reporting another 85 being launched Sunday morning. (Reuters | New York Times | The Guardian)

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

  • No more load shedding: “The electricity will not be cut off again... and there will be no more load shedding,” Prime Minister Moustafa Madbouly said last week.
  • Egypt signals it's ready to issue Eurobonds — and other issuances — for the first time since 2021: Finance Minister Ahmed Kouchouk told foreign investors in London last week that Egypt was set to issue USD 3 bn in Eurobonds and other debt instruments in the current fiscal year coming to a close at the end of June.
  • We’re in line for USD 129 mn from the US: Egypt will receive USD 129 mn from the US government as part of its “commitment to advancing joint US-Egypt priorities.”

enterprise

*** It’s Inside Industry day — your weekly briefing of all things industrial in Egypt. Inside Industry focuses each Sunday on what it takes to turn Egypt into a manufacturing and export powerhouse, ranging from initial investment and planning to product distribution, through to land allocation to industrial processes, supply chain management, labor, automation and technology, inputs and exports, regulation and policy.

In today’s issue: We take a look into BMI’s crystal ball on our pharma sector.

☀️ TOMORROW’S WEATHER- The temps are cooling down, with tomorrow seeing highs of 32°C and a low of 23°C in the capital, according to our favorite weather app.

Tags: