Good afternoon folks, and welcome to the weekend. We have a busy issue for you today, so without any further ado, let’s jump into it.

THE BIG STORY TODAY

Cabinet approves golden license for Balkan for Food Industries: Food concentrate manufacturer Balkan for Food Industries has received the cabinet’s greenlight for a golden license to establish a factory in New October City, according to a cabinet readout. The factory, which will specialize in fruit and vegetable concentrate and sauce production, will see investments of over EGP 850 mn and is expected to be operational by March 2026.

Green Coast eyes USD 50 mn in investments in Egypt over next three years: Dubai-based Green Coast Enterprises is planning to pump some USD 50 mn in new investments into the Egyptian market in the coming three years, with a focus on renewables and infrastructure, Managing Director Mohammed Abdul Ghaffar Hussain told Asharq Business. The company is currently investing USD 10 mn in pipe producer EGFCO, a JV between the Swiss GF Piping Systems and Green Coast’s investment arm Corys Investments.

THE BIG STORY ABROAD

It’s a mixed day in the international press today, with no one story dominating global headlines. The fragile ceasefire between Israel and Hezbollah that took effect Wednesday morning has shown signs of breaking today, with Reuters reporting that Israeli tanks opened fire on six areas in southern Lebanon amid Israeli claims that the ceasefire had been breached. Meanwhile, Israeli strikes on central Gaza killed at least 17 people earlier today, as the belligerent state begins another round of escalation in the embattled enclave.

ELSEWHERE IN THE WORLD- European market-watchers are ringing alarm bells after the 10-year yield on French government debt briefly rose above that of Greece. This marks the first time France’s borrowing costs have exceeded Greece’s in the two countries’ history, the Financial Times writes.

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

  • A “very important” Qatari real estate project on the North Coast is in the works, Prime Minister Moustafa Madbouly said in his meeting with Qatari PM Sheikh Mohammed bin Abdulrahman Al Thani yesterday. The Gulf nation is also looking into investments into the North Coast’s tourism and hospitality sectors.
  • Cotton pricing crisis sees local trading system grind to a halt: The government has temporarily suspended the local cotton trading system on the back of pricing issues that have crippled the industry this season.
  • The House is mulling amendments to the cybercrime law, including criminalizing digital betting activities, adding legislation that addresses AI-related crimes, and setting rules for criminal and civil liability with regard to robots.

☀️ TOMORROW’S WEATHER- We’re seeing similar temperatures tomorrow with a high of 23°C and a chilly low of 13°C in the capital, according to our favorite weather app.

Tags: