Good afternoon all you wonderful people, and welcome back to the workweek. Get ready for the latest on our privatization program, a new — and somewhat ominous — application of AI, and a whole new slate of Christmas-themed events as we kick off December.

THE BIG STORY TODAY

An alliance between Hassan Allam Holding and France’s Groupe Aéroports de Paris (ADP) has submitted a proposal for management and operation of Egypt’s airports in collaboration with the government, according to a cabinet statement. Civil Aviation Minister Sameh Elhefny expressed the government’s willingness to collaborate with the alliance as a part of the government’s airport privatization initiative, with Elhefny noting that the Aviation Ministry is “open to various forms of partnership with the French group,” which operates in 26 airports across 18 countries.

THE BIG STORY ABROAD

Fifteen killed by Israeli strikes in Gaza as Hamas hostage video makes waves: Israel strikes killed at least 15 Palestinians in Gaza on Sunday, Reuters reports, as Hamas representatives meet in Cairo to conduct ceasefire talks with Egyptian officials. The talks follow Hamas’ release of a video Saturday showing an Israeli-American hostage pleading for US president-elect Donald Trump to secure his release.

Meanwhile, Russian and Syrian military forces continue to bomb targets in and around rebel-controlled Idlib following a sweeping attack over the weekend that saw a rebel alliance comprised of former Al Qaeda-affiliate Hayat Tahrir Al Sham — previously known as the Nusra Front — and fighters linked to the Kurdish separatist group the Kurdistan Workers Party (PKK) take over vast swathes of formerly regime-controlled Aleppo and the Syrian north.

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

  • It looks like El Khatib’s visit to Germany to talk investment wasn’t a wasted trip: Investment Minister Hassan El Khatib was in Germany over the weekend for the first ever Egypt–North Rhine-Westphalia Economic Summit and meetings with senior figures from the country’s private and public sectors, which saw a number of possible German projects in Egypt proposed.
  • Net foreign assets in the Egyptian banking system fell to USD 9.2 bn by the end of October, down from USD 10.31 bn in September, according to EnterpriseAM calculations based on Central Bank of Egypt figures.
  • All aboard the ro-ro line: The ro-ro shipping line connecting Damietta Port with Italy’s Port of Trieste kicked off operations on Thursday with its first shipment setting sail. The new line reduces the time to send goods between the two ports to two and a half days, down from a previous six.

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*** 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.

☀️ TOMORROW’S WEATHER- The mercury will see a slight dip tomorrow morning, but will otherwise be consistent with today’s weather, according to our favorite weather app. Expect a sunny high of 24°C and a low of 14°C.

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