Good afternoon folks, and welcome to Sunday. Read on for all the latest as we kick off another chilly work week.

THE BIG STORY TODAY

Bonyan taps financial advisor ahead of planned IPO: Real estate investment firm Bonyan has appointed Baker Tilly as its independent financial advisor to determine the fair value of its shares ahead of its planned IPO, Hapi Journal reports. Last week Bonyan secured approval from the EGX’s listing committee to list its shares on the EGX, with the Compass subsidiary gearing up for its EGX debut in the first half of 2025.

CORRECTION- We incorrectly referred to Hassan Allam Properties as the real estate arm of Hassan Allam Holding in a story published in today’s issue of EnterpriseAM Egypt. Hassan Allam Properties is a sister company of Hassan Allam Holding and has a separate legal entity and shareholding structure. The story has since been amended on our website.

THE BIG STORY ABROAD

US president Donald Trump is calling for Palestinians displaced from the Gaza Strip to beresettled in Jordan and Egypt either temporarily or permanently, despite longstanding opposition to the forcible displacement of Palestinians. Trump noted to reporters following a call with Jordan’s King Abdullah Saturday that he wanted both Jordan and Egypt to take in more displaced Palestinians, saying in reference to Gaza that “we should just clear out the whole thing.” The news comes as displaced Palestinians have gathered around roads running north through the strip in anticipation of soon being able to return to their homes.

Trump is also in talks with multiple parties about an American takeover of TikTok, the president told reporters aboard his presidential jet. US-based multinational software company Oracle is reportedly among the contenders to take control of the social media outfit’s operations, with the company already providing the foundation of TikTok’s online infrastructure. An agreement with Oracle would reportedly see TikTok’s Chinese parent company ByteDance retain a stake in the company, while transferring control over data collection and software updates to Oracle and a group of unnamed investors.

Nothing’s confirmed yet, though: In his comments to reporters, Trump said that he had not had any conversations with Oracle CEO Larry Ellison about a potential purchase of TikTok, but that he would likely make a decision about the app’s future in the coming 30 days. “If we can save TikTok, I think it would be a good thing,” Trump noted.

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

  • Gov’t announces new private sector advisory committees: Prime Minister Moustafa Madbouly has announced the formation of six advisory committees that the statement says will ensure continued and deepened communication between policymakers and the private sector as the state pushes its reform drive into the new year.
  • FRA gives ins. funds more investment options: The Financial Regulatory Authority (FRA) has amended the rules governing private ins. funds and the caps on their investments in a move aimed at helping them diversify their investment portfolios.
  • Global FDI rose 11% y-o-y to USD 1.4 tn in 2024, though figures dipped 8% when excluding European conduit economies, according to the latest Global Investment Trends Monitor.

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.

In today’s issue: We take a look at what policies the government has been putting in place to green local industry.

☀️ TOMORROW’S WEATHER- Temperatures in the capital are going to be slightly chillier tomorrow, with the mercury set to rise to 22°C in the morning and dip to 12°C at night, according to our favorite weather app.

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