Good morning, all, and welcome to the very last Sunday of the year. We are taking these last few days of the year to reflect back on the year that has passed — and what a year it has been. We have recaps of what went down on the macro level, on the expansions front, and in the tourism sector this past year.

^^ All of that and more in the news well, below.

DATA POINT-

Ongoing regional escalations have cost us some USD 7 bn in Suez Canal revenues this year alone, according to an Ittihadiya statement. While the statement doesn’t mention how much the canal made in revenues this year, it says that the figure is 60% lower than 2023’s figure.

SPEAKING OF THE SUEZ CANAL- The canal has successfully tested a new 10km lane in the southern section of the waterway, according to a statement. The trial saw the passage of two ships through the new stretch. Four other ships meanwhile navigated the original eastern canal.

Details of the upgrade: The extension increases the length of the canal’s two-way section to 82 km — up from 72 km. “The extension is set to enhance navigational safety, reduce the impact of winds and currents, and raise the canal’s capacity by an additional 6-8 vessels daily,” Suez Canal Authority head Osama Rabie said.

IN THE HOUSE-

The House is reconvening today and tomorrow to discuss and vote on the draft Criminal Procedures Law’s articles. MPs preliminary approved the draft Criminal Procedures Law earlier this month after weeks of discussions.

Also on the agenda: MPs will also discuss and vote on four agreements with Italy, Canada, and the African Development Bank.

WATCH THIS SPACE-

The Mostakbal Misr Agency for Sustainable Development has secured 1.3 mn tons of wheat, securing Egypt’s supply through June 2025, Reuters reports citing two sources it says have knowledge of the matter. The majority of the contracts were sourced from Russia, with shipments already arriving at Egyptian ports and more scheduled for the coming months.

PSA-

WEATHER- Brace for another cold week in Cairo. Today the capital is in for a high of 18°C and a low of 10°C, according to our favorite weather app.

It’s as cold in Alexandria, with a high of 17°C and a low of 10°C.

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CIRCLE YOUR CALENDAR-

Egypt’s first joint-stock ship waste management company will launch mid-January, a little later than originally expected as it works to complete establishment procedures, Al Borsa reports. The EGP 100 mn company — which has received around 60 participation requests thus far — aims to manage ship waste in Port Said and the Suez Canal.

Check out our full calendar on the web for a comprehensive listing of upcoming news events, national holidays and news triggers.

THE BIG STORY ABROAD-

It’s a pretty quiet morning in the western press as the news slowdown drags on.

Trump asks Supreme Court to delay TikTok ban: US president-elect Donald Trump is pushing for the Supreme Court to pause a law requiring TikTok’s Chinese owner, ByteDance, to sell the platform to a US company or face a nationwide ban by 19 January. Trump argued his incoming administration needs time to find a reasonable political resolution. (Reuters | BBC | CNN | Bloomberg | The Guardian)

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