Good afternoon, all, and happy hump day. Today’s issue comes in a shade heavier than yesterday’s, but still moving at our usual clip.

THE BIG STORY TODAY-

A blacklist for factories stealing electricity will soon be put together, following the Electricity Ministry proposal getting the greenlight from the Ministerial Group for Industrial Development, according to an Industry Ministry statement. After the list is put together, “strict measures” will be taken to deter the practice of electricity theft, according to the statement. The timeline of putting together the list and what the consequences will be for listed factories is yet to be released to the public.

Mark your calendar for the 2025 EnterpriseAM Egypt Forum, our flagship forum and part of our must-attend series of invitation-only, C-suite-level gatherings. Tap the image to register your interest to attend, and click here to visit the website and stay up to date on the agenda and speaker lineup. Want to partner with us? Reach out to Moustafa Taalab at mtaalab@enterprisemea.com to explore sponsorship options.

THE BIG STORY ABROAD-

Israeli forces have intensified their ground offensive in Gaza City, despite international condemnation and a UN declaration that Israel is committing genocide against Palestinians. Israeli Prime Minister Benjamin Netanyahu confirmed the launch of what he called an “intense operation” as the IDF began the “main phase” of its attack on the devastated city. An estimated 350k people have evacuated Gaza City, but approximately twice as many remain. “It is like escaping from death towards death,” said a Palestinian woman from Sabra. (CNN | Reuters)

An independent UN Human Rights Council inquiry has concluded that Israel has committed “four genocidal acts” against Palestinians in Gaza since 7 October 2023. This marks a significant escalation from earlier commission reports that found Israel guilty of war crimes and crimes against humanity, but had stopped short of declaring genocide under the 1948 Genocide Convention. (BBC)

The attack is straining crucial regional relationships, most notably with Egypt. President Abdel Fattah El Sisi referred to Israel as “an enemy” during a speech at the Qatar summit yesterday — the first time an Egyptian leader has used such language since signing the peace treaty in 1979. The comment dominated headlines this morning, potentially representing a significant shift despite no formal steps being taken by the Egyptian government to change our diplomatic status with Israel. (NYT | AP)

☀️ TOMORROW’S WEATHER- We’re in for a cooler day in the capital, with temperatures set to peak at 32°C before cooling down to 21°C, according to our favorite weather app.

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