Good morning, all. We lead today’s issue with investment news, courtesy of Investment Minister Hassan El Khatib’s trip to India and his many meetings with big names in the Indian market — a meeting with representatives from chemicals producer TCI Sanmar saw them unveil plans to invest USD 300 mn in the local market. We also have news of bakery brand TBS expanding abroad, with a strategic partnership that will see it set up shop in KSA.

So, when do we eat? Maghrib prayers are at 6:05pm in the capital, and you’ll have until 4:33am tomorrow to hydrate and caffeinate ahead of fajr.

PSAs-

#1- Want a direct line to get your industrial investment inquiries answered? There’s an app for that. The Industry Ministry launched its Investor Support application to streamline the process for industrial investors to submit inquiries and complaints to the ministry and the agencies under its wings. The application is live on Android and coming to iPhones soon.

#2- Start planning now — Mother’s Day is coming up on Friday, 21 March.

WEATHER- It’s another sunny day in Cairo, with a high of 29°C and a low of 17°C, according to our favorite weather app.

It’s cooler in Alexandria, with a high of 22°C and a low of 14°C.

Don’t let the sun fool you, it’s still winter and temps are expected to fall 3-5°C starting Wednesday, according to the Egyptian Meteorological Authority. Some areas of the nation will also be in for heavy winds and some rain.

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WATCH THIS SPACE-

Could we finally resume LNG exports from liquefaction plants? Feedgas deliveries to the Damietta and Idku liquefaction plants have been recently increasing, with unnamed sources with knowledge of the matter telling Bloomberg that Egypt could export its first LNG shipment from Idku within a year.

REMEMBER- After becoming a net exporter of LNG in 2018 and signaling its intention to become an important energy exporter to the region and Europe, production falls and rising domestic demand led to Egypt having to ramp up imports to bridge the supply gap. Egypt has been looking to return to its status as a net LNG exporter — the Middle East Economic Survey sees that happening by 2027 after its Nargis and Nour fields come online.

HAPPENING TODAY-

#1- The Investment Ministry to hold talks with EU over steel anti-dumping duties: A delegation from the Investment Ministry will meet with EU representatives to discuss the EU's recently announced a temporary 15.6% dumping duties on Egyptian steel exports, set to come into effect on 7 April, Tarek Al Gioshy, a member of the Chamber of Metallurgical Industries, told Asharq Business. The EU announced it will be imposing temporary dumping duties ranging from 6.9-33% on hot-rolled steel coils arriving to the bloc from Japan, Vietnam, and Egypt until it settles on definitive measures by October.

Meanwhile, Ezz Steel — Egypt's sole exporter of hot-rolled flat steel to the EU — is preparing to submit a formal objection to the European Commission regarding the approach used to calculate the duties, an unnamed company official told Asharq Business.

Refresher: The European Commission last August initiated an anti-dumping investigation into hot-rolled flat products of iron, non-alloy or other alloy steel imports from Egypt, India, Japan, and Vietnam.

#2- Egypt’s Integrated National Financing Strategy will be out later today: The Planning and International Cooperation Ministry will launch the country’s Integrated National Financing Strategy (E-INFS) today. The strategy — first announced by Minister Rania Al Mashat last September — aims to increase sustainable financing to minimize funding gaps and investment risks. It was developed in partnership with the UN and the UNDP.

THE BIG STORY ABROAD-

Israel breaks ceasefire agreement: Israel launched several strikes across Gaza earlier this morning, breaking the fragile ceasefire agreement. The attacks killed at least 200 and marked the “most violent air attacks” since mid January when the ceasefire came into effect. The Israeli army and the Shin Bet said in a joint statement that they kicked off attacks on what they claimed to be Hamas targets.

Hamas and Israel won’t see eye to eye: Hamas on Monday accused Israel of violating the agreement — brokered by Egypt,Qatar, and the US — and failing to hold its end in the first phase. Israeli Prime Minister Benjamin Netanyahu’s office said that resuming the war came after “Hamas refused time and again to release our hostages and rejected all the proposals it has been given by US envoy Steve Witkoff and by the Qatari and Egyptian mediators.” (Bloomberg | Reuters | Axios | AP)

AND- Trump threatens Iran over Houthi attacks: US President Donald Trump warned that any further Houthi attacks will be seen as an Iranian assault, vowing to hold Iran responsible. “Every shot fired by the Houthis will be looked upon, from this point forward, as being a shot fired from the weapons and leadership of Iran,” Trump said in a post on his social media platform Truth, vowing that Iran will “suffer the consequences, and those consequences will be dire.” (Bloomberg | Reuters | AP)

ALSO MAKING HEADLINES- Trump to discuss Ukraine ceasefire with Putin today: Trump is set to speak with his Russian counterpart Vladimir Putin about a potential ceasefire in Ukraine. “What's happening in Ukraine is not good, but we're going to see if we can work a peace agreement, a ceasefire and peace, and I think we'll be able to do it,” Trump told reporters yesterday. The talks come after Ukraine accepted a 30-day, US-backed ceasefire proposal last week. (Reuters | New York Times | BBC | The Guardian | Washington Post | AP)

*** 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 look at why geothermal energy is yet to catch on in Egypt like in Turkey and Kenya.

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