Good afternoon folks, and happy Monday. The news cycle may be winding down for this calendar year, but our coverage of the latest in tech certainly is not — read on for a breakdown of Google’s new tracking tools, Amazon’s new discount goods platform, and another season of our favorite fictional gaming series.

THE BIG STORY TODAY

Banking consortium grants El Zahy Group EGP 4.2 bn in financing: A consortium composed of the National Bank of Egypt (NBE), Banque Misr, and QNB Al Ahli will jointly grant local firm El Zahy Group some EGP 4.2 bn in financing for a number of infrastructure and construction projects, according to a press release (pdf). The funding will go toward projects in the facility design, land reclamation, infrastructure, agricultural land, and irrigation and drainage line construction areas.

AND- WiFi calls could go live before the year wraps up: WiFi calling services — which enable mobile phone users to make high-quality voice calls over internet connections, rather than via mobile networks — could launch within days, as the National Telecom Regulatory Authority finalizes approvals, sources told Al Borsa. The service aims to fix coverage gaps in dense neighborhoods and high rises and is expected to work on 4G devices with support from mobile carriers.

THE BIG STORY ABROAD

Honda and Nissan could be on the verge of a historic merger: Japanese auto titans Nissan and Honda have begun talks over a possible merger, which if implemented would create the world’s third largest automaker by sales volume, the companies said in a joint press release this morning. Mitsubishi, another Japanese carmaker that has been in alliance with Nissan since 2016, is also mulling joining the merger, the Financial Times reports.

A highly competitive market is spurring sector consolidation: The merger talks come as the companies face heightened competition from China- and US-based EV automakers, and as Nissan faces financial difficulties that have seen other manufacturers — chiefly Taiwan’s Foxconn — eye a takeover of the embattled car-maker. Integration could provide a salve for Nissan’s financial difficulties, while also offering both companies an opportunity to capitalize on economies of scale amid what Honda chief executive Toshihiro Mibe called a “drastically changing business environment.” If implemented, the merger will be the biggest reshaping of the auto market since Fiat-Chrysler and PSA merged to create Stellantis in 2021.

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

  • MPC to keep rates unchanged in its last meeting of the year, analysts tell EnterpriseAM: The Central Bank of Egypt is expected to once again leave interest rates unchanged when it meets on Thursday, with analysts pointing to ongoing price volatility, mixed signals in inflationary trends, and the depreciation of the EGP against the greenback as factors that could influence the decision.
  • Unionaire to up investments 67% y-o-y in 2025: Unionaire Group Technology is planning to invest USD 500 mn in the local market next year, up from USD 300 mn this year.
  • Egypt to sign trade agreements with Bahrain and UAE to cut customs clearance times: Egypt plans to sign separate agreements with Bahrain and the UAE in 1Q 2025 to reduce customs clearance times to a few hours.

☀️ TOMORROW’S WEATHER- No major changes in the weather, with tomorrow’s mercury expected to reach a high of 21°C in the capital and a low of 13°C at night, according to our favorite weather app.

Tags: