Good morning, all. We hope you’re keeping cool and ready to tackle the last hump day of the month. To ease you into the workday we have an issue led with debt news, as we breakdown the shift in investors’ appetite for local debt instruments and some energy news (as has been the case for most days these past couple of weeks) as we welcome the first of three regasification units set to dock in our ports this year.

PSA-

WEATHER- After a few hot days, the temps are dipping in Cairo today. The capital is in for a high of 31°C and a low of 19°C, according to our favorite weather app.

It’s even cooler in Alexandria, with a high of 26°C and a low of 18°C.

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WATCH THIS SPACE-

#1- A joint Egypt-US AI initiative was launched to fast-track AI adoption across several key sectors. The initiative will support startups, promote AI innovation, develop and implement training programs, as well as programs with international entities and the private sector, AmCham CEO Sylvia Menassa announced during the second day of the US-Egypt Policy Leaders Forum.

And there’s more: Tech giant IBM inked an MoU with the ICT Ministry to train 100k individuals in a variety of tech specialties over the coming five years — 20k people per year. Trainees will receive certifications in high-demand areas such as AI, data science, and cybersecurity.

#2- A US Industrial Zone? President Abdel Fattah El Sisi expressed the country’s willingness to facilitate the establishment of a US Industrial Zone in the Suez Canal Economic Zone, as part of the country’s aspirations to become a major industrial hub for US industries. This came during a meeting that brought together cabinet members and President and CEO of the US Chamber of Commerce Suzanne Clark and Apache’s CEO John Christmann.

Discussions also touched on: The two sides discussed priority investment sectors for Egypt — CIT, AI, medical device and pharma production, automotive, renewables, construction and infrastructure, and food goods. The meeting followed the US-Egypt Policy Leaders Forum.

FACT CHECK-

EGX-listed Ajwa Group clarified that it’s not party to any M&A transactions with Saudi-based logistics firm Atco, stating that earlier comments made by company Chairman Ahmed Tarek pertained to his personal interest in acquiring a stake in Atco, according to a disclosure (pdf) to the bourse.

THE BIG STORY ABROAD-

France and Vietnam inked agreements valued at USD 10 bn yesterday during President Emmanuel Macron’s visit to Hanoi, including purchasing 20 Airbus planes, as well as partnerships on nuclear energy and defense. Macron will be heading to Indonesia and Singapore next, in a similar bid to bolster trade relations and get ahead of US trade agreements that could come at the expense of EU countries.

OVER IN GAZA- Deadly airstrikes continued on schools-turned-shelters and more targets in Gaza yesterday, with death tolls — estimated to be in the dozens overnight — increasingly hard to calculate due to the virtual collapse of medical services.

Efforts to secure the ceasefire are facing increasing uncertainty, with Reuters reportingearlier Hamas accepted a proposal for a temporary truce by US special envoy Steve Witkoff, only for Witkoff himself to deny it later, calling the group’s response “unacceptable.”

ALSO- The Swiss-based Gaza Humanitarian Foundation announced it begandistributing food to people in the enclave through its distribution hubs yesterday. The US and Israel-backed private group is already facing setbacks after its executive director Jake Wood resigned, stating that “it is not possible to implement this plan while also strictly adhering to the humanitarian principles of humanity, neutrality, impartiality, and independence.” Its chief operating officer, David Burke, reportedly resigned as well.

*** 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 how the hoped-for Egyptian data center boom could cause a significant strain on our water resources.

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