Good afternoon, friends, and welcome to the start of a shorter-than-usual workweek. It’s a calm day in the press, with the news cycle — both home and abroad — dominated by the latest updates from the Shanghai Cooperation Organization summit.

THE BIG STORY TODAY-

China Energy Engineering Corporation (CEEC) is looking to invest USD 1 bn into Egypt over the next five years in desalination, renewables, and energy storage, according to a statement from the cabinet. The announcement follows Prime Minister Moustafa Madbouly’s meeting with CEEC’s chairman in China’s Tianjin, on the sidelines of the Shanghai Cooperation Organization Plus summit.

The gov’t is offering incentives and pushing the company to help localize components for renewables and desalination, as Egypt works to meet an additional 5-6 GW of annual demand for renewable energy. Also part of the government’s energy and desalination plans are exporting power to Europe, boosting renewables to 20% of the energy mix in FY 2025-26, and ramping up desalination to 10 mn cbm/day within five years — up from 1.4 mn cbm/day.

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 a relatively calm afternoon in the business press, with India and China setting aside their differences amid Trump’s tariff wars getting the most ink:

Indian Prime Minister Narendra Modi and Chinese President Xi Jinping affirmed that both countries are developing a growing trust following years of tension and political disputes. Both leaders met on the sidelines of the Shanghai Cooperation Organisation summit — which was also attended by Russian President Vladimir Putin alongside other global leaders — in the Chinese city of Tianjin. The summit marked the Indian PM’s first visit to China in seven years.

“It is the right choice for both sides to be friends,” President Xi said, noting that there is now an “atmosphere of peace and stability” between both Asian countries. The amicable meeting follows Trump’s steep 50% tariffs on India that went into effect last week, and are among the highest ever charged — on par with the tariffs on China. (BBC | Reuters | CNN | Financial Times | CNBC)

enterprise

*** It’s Inside Industry day — your weekly briefing of all things industrial in Egypt. Inside Industry focuses each Sunday on what it takes to turn Egypt into a manufacturing and export powerhouse, ranging from initial investment and planning to product distribution, through to land allocation to industrial processes, supply chain management, labor, automation and technology, inputs and exports, regulation and policy.

In today’s issue: We’re taking a look at the current state of Egypt’s fertilizer industry, and what risks loom just around the corner.

☀️ TOMORROW’S WEATHER- We’re in for a particularly hot day tomorrow, with temperatures in Cairo set to peak at 38°C, before cooling down to 23°C. Still up north? Expect a high of 29°C and a low of 25°C, according to our favorite weather app.

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