Good afternoon, friends, and welcome to the start of another workweek. Colder weather and a longer news lull seem to be on the horizon.

THE BIG STORY TODAY

The House approves USD 500 mn financing program to purchase wheat + an EUR 1 bn from EU to support the budget: MPs reconvened today after a two-week break and approved a USD 500 mn financing program between GASC and the Abu Dhabi Exports Office to facilitate the provision of wheat and essential commodities, as well an EUR 1 bn loan agreement with the EU. The loan is part of a package that includes grants, concessional financing, and budget support over time to implement reforms.

THE BIG STORY ABROAD

The foreign press remains focused on the developments in Syria: Despite Israel’s incessant attacks on Syria since the fall of the Assad regime, de facto Syrian leader Ahmad al-Sharaa said during diplomatic talks that he is not interested in engaging in new conflicts. The US is looking into the possibility of providing Syria with sanctions relief, Secretary of State Anthony Blinken said on Saturday. (Reuters | Bloomberg)

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

  • AMEA to invest an additional USD 600 mn in Egypt’s renewables sector: UAE’s AMEA Power will set up a USD 600 mn, 5 GW wind power project in the Gulf of Suez in cooperation with the Egyptian Electricity Transmission Company and the New and Renewable Energy Authority (NREA).
  • PHD, El Tarek Automotive snap up additional shares in Taaleem: Palm Hills Development (PHD) and El Tarek Automotive have bought up CI Capital’s entire 13.1% stake in higher education outfit Taaleem.
  • Egyptian-Chinese strategic dialogue: Foreign Minister Badr Abdelatty was in Beijing to head the fourth Egyptian-Chinese strategic dialogue alongside his Chinese counterpart Wang Yi.

enterprise

*** 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- Temperatures in the capital will drop to a chillier high of 22°C tomorrow and low of 12°C at night, according to our favourite weather app.

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