Good morning, friends. We have a pretty heavy news day for you led by investment news — Sovereign Fund of Egypt’s Ayman Soliman and Ihab Rizk’s newly-launched Morpho Investments reached USD 55 mn first close of its inaugural fund. We also dive into the latest on the anticipated electricity price hike and what analysts think will happen when the central bank’s Monetary Policy Committee meets later this week.

PSA-

WEATHER- It’s another sunny day in Cairo, with a high of 32°C and a low of 18°C, according to our favorite weather app.

It’s a little cooler in Alexandria, with a high of 26°C and a low of 17°C.

** DID YOU KNOW that we now cover Saudi Arabia and the UAE?

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ICYMI- Missed this week’s Inside Industry? In our weekly vertical exploring all things industry and manufacturing, we looked at how global trade tensions are fueling local industries. Check out the story here.

HAPPENING TODAY-

Today is the second and last day of the IMF’s MENA Research Conference in Cairo. The two-day conference, organized by the IMF and the Onsi Sawiris School of Business at the American University in Cairo, is bringing together academics, researchers, and policymakers to discuss regional and global economic issues. The forum also aims to bolster economic research skills in finance ministries and central banks in the region. You can check out the full agenda on the IMF’s website.

THE BIG STORY ABROAD-

Israel launched an extensive ground operation in Gaza, following days of intense airstrikes across the territory that killed hundreds. The IDF will work on dividing the territory and forcibly moving Gazans in the coming weeks, while allowing “a basic amount of food” for the starving population to prevent a hunger crisis from developing.

Not many details have been announced on the ground offensive, framed as a way to pressure Hamas into agreeing to release captives. The attack comes after weeks of Israel shattering a fragile ceasefire in March and blocking all aid shipments, with continuous bombardment killing some 3.2k people in Gaza in the span of two months.

ALSO- Former US President Joe Biden has been diagnosed with an aggressive form ofprostate cancer. The 82-years-old politician was the oldest-serving president in American history.

*** It’s Blackboard day: We have our weekly look at the business of education in Egypt, from pre-K through the highest reaches of higher ed.

In today’s issue: We dive into Uptown 6 October’s plans to bring GSM to Egypt with EGP 1.3 bn international school.

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