ENERGY-

Israel once again put a halt to Egypt-bound natural gas exports yesterday morning, coinciding with the US’ strikes on Iranian nuclear sites only a few hours before, Asharq Business reports, citing an unnamed government source.

Israel had only just resumed gas exports on Thursday after a six-day pause, although most of this made its way to Jordan, with Egypt receiving only “tiny volumes,” an Israeli Energy Ministry source told Reuters last week.

The initial halt in flows followed Tel Aviv’s decision to start bombing Iran earlier in the month, which led to the shuttering of its Leviathan field as well as the Karish field, taking away 800 mcf/d from our national gas grid. Reduced gas flows from Israel not only mean an increased reliance on significantly more expensive LNG or mazut imports, but also put a significant strain on Egypt’s efforts to keep the lights on ahead of high-demand summer months.

TOURISM-

Gov’t launches global digital campaign to promote yacht tourism: The Tourism Ministry rolled out a two-month international campaign called Sail to Egypt to showcase the country’s yacht tourism offering, according to a ministry statement. The campaign will feature on online platforms and in-print publications, highlighting Egypt’s Red Sea and Mediterranean coastlines, modern marinas, resorts, and coastal cities to attract luxury travelers.

REMEMBER- The government has been working to boost Egypt’s yacht tourism for years now. And over the past year, the Suez Canal Authority rolled out fresh incentives and facilities for yachts passing through the waterway.

REGULATION-

New rules for PSPs + PSOs are out: The Central Bank of Egypt issued new licensing and registration rules for payment service providers (PSPs) and payment system operators (PSOs), it said in a statement (pdf). The framework, which aims to keep pace with rapid developments in digital payments, outlines licensing conditions and procedures for both local and foreign entities offering payment services or operating payment systems in Egypt. It covers activities including issuing payment instruments and sending and receiving remittances.

PSPs and PSOs already operating in Egypt will have 12 months to comply with the new regulations — including capital requirements, which range between EGP 10-500 mn — and submit licensing requests.

DIVE DEEPER- Check out the 34-page document outlining the news rules on the CBE’swebsite.

MANUFACTURING-

Egypt’s first ultrasound, MRI machines factory in the works: US healthcare giant GE Healthcare and Al Safi Group’s Medinova are setting up the country’s — and also the region’s — first factory for locally manufacturing ultrasound and MRI machines, according to a cabinet statement. The facility will produce 2.5k ultrasound units and 40-50 MRI systems annually, with a portion set for export to Africa. The site will house a total of 25 production lines covering other electronics, including telecom equipment and display screens, and is expected to create 3k direct and indirect jobs.

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