Good morning, friends. In today’s issue we have the latest remittances figures, fresh investment news, and news of Electrolux deciding to stay in the Egyptian market.

PSA-

Ramadan hours kick in next week: Banks will be open to clients from 9:30am to 1:30pm (9am to 2pm for staff) throughout Ramadan. Shops, restaurants, and cafés will be allowed to stay open until 2am during Ramadan and Eid Al Fitr. Trains will also shift their schedule to better accommodate passengers during Ramadan — the National Railway Authority shared the updated timetable yesterday.

WEATHER- Brace for another cold day in Cairo, with a high of 16°C and a low of 9°C, according to our favorite weather app.

It’s just as cold in Alexandria, with a high of 16°C and a low of 10°C.

Warmer days ahead: The Egyptian Meteorological Authority sees temps rising 2-4 degrees starting Wednesday.

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WATCH THIS SPACE-

Gov’t to launch fresh LNG tender for summer shipments: The Egyptian General Petroleum Corporation is set to launch a tender in 2Q 2025 for additional LNG shipments on behalf of the Egyptian Natural Gas Holding Company, CNN Business Arabic reports, citing an unnamed government official. The planned shipments, which are scheduled for 3Q 2025, aim to meet the heightened summer demand.

ICYMI- Egypt reportedly signed agreements with Shell and TotalEnergies in December to purchase a total of 60 LNG shipments in 2025 for around USD 3 bn. The agreements, which reportedly came into effect in early January, require the two companies to supply around five shipments per month.

IN THE HOUSE-

House kicks off discussions of the redrafted Labor Law today: MPs will weigh in on the bill’s general framework before diving into the details. The draft law, which aims to modernize labor regulations while balancing worker rights and business interests, has already received the green light from the Manpower Committee.

“The draft reflects a new vision that aligns with Egypt’s economic realities,” said Manpower Committee head Adel Abdel Fadil. He described it as a balanced framework that safeguards workers’ rights while creating an attractive climate for investors. The bill addresses a range of workplace issues, from maternity leave and child labor to strikes, working hours, and wage regulations.

ALSO- The House’s Economic Committee will discuss two information requests regarding the procedures for transferring six ports currently under the authority of the Suez Canal Economic Zone to the Transport Ministry to bring all Egyptian ports under one authority, Al Mal reports.

FROM YESTERDAY’S SESSION- MPs give the thumbs up to landmark Criminal Procedures Law: The House of Representatives approved the long-debated Criminal Procedures Law yesterday, concluding four months of extensive discussions on the 544-article legislation. The draft law — which lays out the framework for investigating, prosecuting, and trying criminal cases — now awaits a final vote from MPs in an upcoming session.

A sweeping glance: The bill encompasses six chapters covering criminal prosecution, evidence collection, courts, appeals, enforcement, and international judicial cooperation.

An expanded rulebook: The bill, which initially consisted of 540 articles, recently gained four new articles during the review process. Two of these were proposed and approved in yesterday’s session — one giving the Justice Minister authority to issue executive orders for implementing the law and another reducing death penalties when reconciliation is accepted by victims’ families in accordance with shariah.

HAPPENING TODAY-

#1- Give your little ones the chance to stock trade: EFG Hermes has partnered with KidZania Cairo to introduce the first-ever stock trading experience in MENA region designed for children aged 8-14, according to a joint press release (pdf). The mock stock market will include 35 real companies and allow children to build up their trading portfolios, giving them a taste for investing and stock trading. Trading activities will take place in KidZania Cairo’s new EFG Hermes branch.

What they said: “By partnering with KidZania in Cairo … we are taking a meaningful step toward empowering the next generation with essential financial knowledge in an engaging and interactive manner. Educating children about money, how to manage it, and making it work for them from a young age is crucial for cultivating a new generation that is informed and empowered,” EFG Holding Group Chief Marketing and Communications Officer May El Gammal said.

#2- Everything you need to know about the CEMS Master in International Management: The AUC Onsi Sawiris School of Business and Newton Education Services are hosting a virtual information session on the CEMS Master in International Management today from 7-8pm. The session will explore the program's structure, global network, interdisciplinary curriculum, and career opportunities with input from the program’s Academic Director Marina Apaydin, as well as former and current students. Find the link to register on the school’s LinkedIn page.

THE BIG STORY ABROAD-

It’s shaping up to be a calm morning in international news, with the main focus on the Trump administration’s shift away from traditional EU allies to warmer ties with Russia.

US, EU not on the same page: US President Trump’s meeting with France’s Emmanuel Macron saw the two leaders interrupt each other a few times. Macron insisted Ukraine should be compensated by Russia as the aggressor, and corrected Trump’s statements that Europe “is loaning” the money to Ukraine and will get it back. Meanwhile, Trump said Washington is close to snapping up a share of Kyiv’s natural resources, with Ukrainian President Volodymyr Zelensky visiting in a few days to sign the agreement.

ALSO- Apple announced yesterday it will be investing USD 500 bn in the US over the next four years, in a bid to mitigate the impact of tariffs on its supply chains. Trump confirmed that postponed tariffs on Canada and Mexico “will go forward” when the delay expires next week.

MEANWHILE- The EU agreed to partially lift sanctions on Syria’s energy sector, including oil exports and energy tech imports. (Bloomberg)

*** It’s Going Green day — your weekly briefing of all things green in Egypt: Enterprise’s green economy vertical focuses each Tuesday on the business of renewable energy and sustainable practices in Egypt, everything from solar and wind energy through to water, waste management, sustainable building practices and how you can make your business greener, whatever the sector.

In today’s issue: We take a look at some new data on Cairo’s urban heat islands — and delve into the steps the government is taking to address rising urban temps.

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