Good morning, friends. We are kicking off the business week with a packed issue, full of economy, investment, M&A, and real estate news.

PSA-

WEATHER- It’s another cool day in Cairo, with a high of 33°C and a low of 23°C, according to our favorite weather app.

It’s even cooler in Alexandria, with a high of 29°C and a low of 23°C.

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HAPPENING THIS WEEK-

Arab central bankers gather in Cairo: The Central Bank of Egypt is hosting the annual meetings of the Council of Arab Central Banks and Monetary Authorities' Governors on Tuesday, according to a statement. The meetings will bring together Arab central bank governors, heads of Arab and international financial institutions, senior officials, and banking experts to discuss pressing economic issues. Discussions will address monetary policy management, private sector debt impacts on financial stability, and central banks' role in addressing climate change.

THE BIG STORY ABROAD-

One story is on every front page this morning: Israel killed Hezbollah leader Hassan Nasrallah in Beirut over the weekend in an airstrike. Nasrallah, who led Hezbollah for 32 years, had been among the main targets of Israel’s bombardment of Lebanon.

Israeli forces killed at least 700 people in Lebanon last week, including 50 children. At least 30k people — mainly Syrians — have crossed into Syria from Lebanon since Wednesday and more than 200k people in Lebanon have been uprooted by the attacks.

Houthis attack Israel: Yemen’s Houthis said on Friday that they had launched missile and drone attacks on the Israeli cities of Tel Aviv and Ashkelon as well as three US destroyers stationed in the Red Sea. The Israeli army said that it managed to intercept a missile fired from Yemen, but the Houthis said that their operations would not stop until Israel ceases its offensives in Gaza and Lebanon.

Saudi Arabia formed a global alliance to push for a two-state solution to the Palestinian issue. The alliance will include a number of Arab and Muslim countries, as well as a few European countries. Meanwhile, Egypt continued to call for an immediate ceasefire in both Gaza and Lebanon, warning on Thursday that Israel’s practices and violations of international law threaten to plunge the region into a state of chaos.

AND IN BUSINESS NEWS- Beijing wants Chinese companies to ditch Nvidia chips: Chinese regulators are reportedly discouraging companies from purchasing US-based Nvidia’s H20 chips, in a bid to expand local chipmakers’ market share and to prepare local tech companies for more US restrictions that may be coming down the pike. The instructions have come as a guidance rather than an outright ban, as officials weigh the benefits of access to the world’s fastest chips for its burgeoning AI sector.

PLUS- HSBC to exit the South African market: HSBC will transfer its commercial and investment banking business in South Africa to local lender FirstRand as it exits the country and continues to shift its focus toward Asia, it said in a press release (pdf). Absa Bank has also been tapped to provide HSBC’s equities and securities finance clients with access to the South African market.

AND IN US ELECTIONS NEWS- Tehran comes under fire for election interference: The US Justice Department on Friday accused three members of Iran’s Islamic Revolutionary Guard Corps of hacking Donanld Trump’s election campaign, after they purportedly used fake emails to dupe Trump’s staff into clicking links that allowed the hackers to snag sensitive information like debate prep notes and VP shortlists. While the Iranian suspects are outside of US jurisdiction, Attorney General Merrick Garland emphasized the Justice Department's commitment to pursuing international cybercriminals, stating, “We will follow these people for the rest of their lives.”

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