Good afternoon, friends, and congratulations on making it to the halfway mark of a (now officially) shorter-than-usual workweek, with the Labor Ministry confirming Thursday, 4 September a holiday in commemoration of the Prophet Muhammad’s birthday.

THE BIG STORY TODAY-

The government is preparing new rules for land use and investment along the Red Sea, Asharq Business reports citing a government document. A committee is mapping and reviewing plots, with recommendations due mid-September. The goal? Boosting state returns from prime coastal assets.

The move follows similar efforts on the North Coast, which saw the New Urban Communities Authority issue a new regulatory framework for real estate projects. The new rules included a flat USD 20 per sqm fee for projects developed by foreign developers and EGP 1k per sqm charge for local developers.

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 slow afternoon on the business front, with global headlines dominated by the latest updates from Afghanistan after an earthquake left hundreds dead.

A magnitude 6.0 earthquake in Afghanistan has left over 800 dead and 2.8k injured. The quake struck 27 km from Jalalabad, with its impact felt in the Afghan capital of Kabul 161 km away. Rescue missions have been mobilized in several districts, but the full extent of the damage remains unclear with entire villages flattened, CNN reports. Afghan authorities expect the death toll to rise as rescue efforts continue. (CNN | Reuters | Guardian | Financial Times | New York Times | BBC)

☀️ TOMORROW’S WEATHER- It’s going to be another warm day in Cairo, with temperatures set to peak at 37°C, before cooling down to 24°C. We’re in for cooler weather up north, with a high of 29°C and a low of 27°C, according to our favorite weather app.

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