Good afternoon, friends and happy Monday. Welcome to another rainy day in the capital city and a slow one on the local news front.

THE BIG STORY TODAY

First Saudi subsea cable links KSA and Egypt via Red Sea: Saudi Arabia’s telecom giant Mobily and Telecom Egypt have signed an agreement to lay a Mobily-owned submarine cable passing through the Red Sea, connecting Egypt and Saudi Arabia, a joint press release (pdf). The new subsea cable will link Sharm El Sheikh and Duba, creating a Gulf-to-Egypt digital corridor and plugging into Egypt’s vast subsea network for enhanced regional connectivity.

THE BIG STORY ABROAD

Trump intensifies accusations of electoral fraud as polls show US elections coming down to the wire: All eyes are on the last-day push for US presidential hopefuls Kamala Harris and Donald Trump ahead of election day, with Trump saying at a rally at Pennsylvania that his Democratic opponents are “fighting so hard to steal this damn thing” and that he “shouldn’t have left” office. The Republican is set to spend his last campaign day visiting Raleigh, North Carolina, Reading and Pittsburgh in Pennsylvania, and Grand Rapids, Michigan, while Harris plans to spend Monday campaigning in different cities in Pennsylvania — the biggest prize among the battleground states. (Reuters | Bloomberg | Financial Times)

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

  • Egypt’s fourth IMF review is right around the corner: The International Monetary Fund will begin the long-awaited fourth review of Egypt’s IMF loan program tomorrow.
  • Natural gas for households just got pricer: The Madbouly government has hiked theprices of natural gas for households by EGP 0.40-1.00 per cubic meter as part of wider plans to phase out fuel subsidies.
  • Auto sales continued to decline in September: Auto sales in September dropped 5% m-o-m to record 9.5k vehicles, down from 10k in August.

☀️ TOMORROW’S WEATHER- The weather has cooled yet again, with a high of 26°C and a low of 18°C in the capital tomorrow, according to our favorite weather app.

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