Good afternoon, friends. It’s another calm day on the homefront, with a mixed bag of stories dominating global headlines.

THE BIG STORY TODAY-

In an unusually quiet day for local business news, an agreement for a pair of two new Suez Canal Economic Zone logistics is one of the few stories worth noting. The SCZone inked agreements for two new logistics projects with a Egyptian-Turkish consortium that included the state-owned Arab Organization for Industrialization and United Egy Group Shipping representing Egypt, alongside Turkey’s Sigma Logistics and Containers and Logi Trade Company, according to a statement from the authority.

The new project will be known as Sigma Egypt and be developed with investments of USD 4.2 mn. The project will develop two separate customs bonded yards for container storage, handling, and repair in West Qantara and Ain Sokhna. The two 50k sqm yards will be fully self-financed and create 100 direct jobs.

In the fourth issue of our Destination Sahel series, we're bringing you the latest updates on New Alamein City and a look at the best investments in Sahel today. We also investigate the growing issue of beach erosion and its impact on our shores.

Look for Destination Sahel, Issue IV, in your inbox on Wednesday, 3 September.

Missed the first three issues? Tap here to read the full series.

THE BIG STORY ABROAD-

It’s another day with a mixed bag of stories in the global press. Among those getting top billing:

Still getting top billing in the business press this afternoon is news that US drinks giant Keurig Dr Pepper will be acquiring Dutch coffee and tea company JDE Peet’s for USD 18.4 bn, in a bid to rescue its struggling coffee business. Keurig Dr Pepper is set to pay USD 37.3 per share and the acquisition is projected to save USD 400 mn in costs over the next three years for the combined entity. (Bloomberg | CNBC)

Also featuring strongly in the business papers is the collapse of Orsted shares following the Trump administration halting construction of a nearly-complete wind farm, which are now down 16.0% at the time of writing. The abrupt disruption to the USD 1.5 bn offshore wind farm saw shares fall by as much as 19% during trading earlier in the day. “Orsted is evaluating all options to resolve the matter expeditiously in dialogue with permitting agencies and potentially through legal proceedings,” the Danish renewables company said. (Bloomberg, Financial Times, CNBC)

In non-business news, an increasing number of outlets are leading their digital front pages with an Israeli airstrike on yet another hospital in Gaza that killed 15, including a number of journalists. Among those killed are Al Jazeera’s Mohammad Salama, Reuters’ Hussam Al-Masri, and AP’s Mariam Abu Dagga. More than 240 Palestinian journalists have been killed since 7 October 2023, the Palestinian Journalist Syndicate reports, marking the conflict as the deadliest ever conflict for journalists recorded. (CNN | BBC | Reuters | Bloomberg)

☀️ TOMORROW’S WEATHER- We’re in for a cooler day tomorrow, with temperatures in Cairo set to peak at 35°C, before cooling down to 23°C. Up north, we’re in for a high of 29°C and a low of 27°C, with some wind to be expected according to our favorite weather app.

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