Good afternoon, folks, and a happy almost weekend to you all.

THE BIG STORY TODAY

Five major airports slated for first phase of private sector offerings: The first phase of the government’s plan to bring private investors to develop, manage, and operate Egyptian airports will offer up five airports, Al Arabiya reported, citing unnamed sources it says are close to the matter. The sources named the airports as Cairo International Airport, Sphinx International Airport, New Alamein International Airport, Sharm El Sheikh International Airport, and Hurghada International Airport.

Luxor, Aswan airports to follow in later phases: The Madbouly government also plans to hand over management of Luxor and Aswan airports to private sector operators in subsequent phases, with plans to develop Aswan Airport into a hub for sub-Saharan African flights, one of the sources said.

THE BIG STORY ABROAD

Too-close-to-call race sees Wall Street bet big on potential Trump election victory: Some hedge funds and investors are positioning themselves for a potential Trump victory in the upcoming US presidential election, with stocks tied to his policies already seeing gains, the Wall Street Journal writes. As Trump's chances improve in recent polling, traders are moving into assets that could benefit from a Republican win, such as private-prison stocks and cryptocurrency-related firms, which have surged in recent weeks.

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

  • El Sisi, Putin talk Brics at the bloc’s annual summit: President Abdel Fattah El Sisi met his Russian counterpart Vladimir Putin on the sidelines of the Brics Summit, which kicked off in Kazan yesterday.
  • Raya Foods may just be the beginning of Helios’ Egypt acquisition spree: Africa-focussed and London-based PE outfit Helios Investment Partners is looking into acquiring stakes in another three Egyptian companies.
  • Our localization efforts are in full swing: The Madbouly government will work to localize the manufacture of 12 products selected by the ministries of housing and industry.

☀️ TOMORROW’S WEATHER- The October weather remains stable, with the mercury maintaining a high of 30°C and a low of 19°C in the capital, according to our favorite weather app.

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