Good afternoon all you wonderful people, and happy Christmas Eve. At the top of the docket for today is another hike to our phone and internet bills, followed by the latest on AI applications in the realm of animal communication and the business of prediction.

THE BIG STORIES TODAY

#1- Your mobile contract plans just got pricier: The National Telecom Regulatory Authority has given telecom operators the greenlight to hike prices of their mobile and internet bills by up to 30%, a government source told EnterpriseAM. The move comes a little over two weeks after Telecom Egypt (WE) and Egypt’s other three other telecom operators hiked the prices of their home internet and prepaid mobile plans by up to 31%.

#2- Valu and One Finance close fresh securitization rounds: Homegrown fintech leader Valu has closed its thirteenth securitization round valued at EGP 519.2 mn, according to statements from Valu and Legal advisor Dreny & Partners. Valu’s latest financing round is part of a broader three-year multi-issuance program with a total value of EGP 16 bn, with the company having raised a total in excess of EGP 10.8 bn across all issuances to date. Meanwhile, state-owned consumer finance player One Finance has closed its second securitization for its consumer finance portfolio in an issuance valued at EGP 679 mn, as part of its total EGP 3 bn multi-issuance program, according to a statement from legal advisor Dreny & Partners.

THE BIG STORY ABROAD

China to issue record USD 411 bn in t-bills in 2025 to revive sluggish economy: China is planning to issue USD 411 bn worth of special treasury bonds in 2025, its largest-ever issuance, two unnamed sources tell Reuters. Proceeds from the issuances will go toward ramped-up subsidy programs, equipment upgrades for businesses, greater funding for advanced manufacturing sectors like EVs and semiconductors, and expanded infrastructure projects.

The unprecedented move reflects Beijing’s willingness to go further into debt to counter continued deflationary pressures, particularly as it struggles with continued weak consumer demand amid falling property prices that have left Chinese consumers feeling less wealthy and less willing to spend. The need to prop up domestic demand has taken on an even greater salience as US president-elect Donald Trump’s promised tariffs on Chinese goods threaten to hit Chinese export demand hard.

PLUS- Israeli defense minister acknowledges assassination of Ismail Haniyeh: Israeli defense minister Israel Katz confirmed that his government was behind the killing of Hamas’ top political leader in Tehran in July. While Israel had largely been understood to have been behind Haniyeh’s killing, Katz’s comments provided the first official acknowledgment of the government’s responsibility for the assassination.

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

  • Fresh details are out on the government’s new tax system: The Madbouly government is gearing up to launch its long-awaited tax policy document next year, as part of a wider package of measures aimed at attracting foreign investments and changing the overall investment climate in Egypt.
  • Turkish denim manufacturer to invest USD 8.8 mn in SCZone: The Suez Canal Economic Zone (SCZone) signed an agreement yesterday with Turkish apparel company Denim Rise to establish a garment manufacturing facility in the Qantara West Industrial Zone.
  • EBRD greenlights USD 275 mn loan for Gulf of Suez mega wind farm: The European Bank for Reconstruction and Development (EBRD) approved a USD 275 mn syndicated loan to Saudi renewables giant ACWA Power and Hassan Allam Utilities’ 1.1 GW wind farm in the Gulf of Suez — the largest wind project in both Africa and the Middle East.

☀️ TOMORROW’S WEATHER- This week’s weather is fairly stable with tomorrow’s mercury expected to reach a high of 22°C in the capital and a low of 10°C at night, according to our favorite weather app.

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