M&A WATCH-

Eastern Company’s union workers sold their entire 5.2% stake in the tobacco giant to Fidelity Investments in a EGP 6.24 bn transaction, according to an EGX disclosure from the buyer (pdf) and another from the seller (pdf). EFG Hermes brokered the transaction.

AUTOMOTIVE-

NTRA greenlights IoT-enabled smart cars: The National Telecom Regulatory Authority (NTRA) has licensed seven global carmakers to roll out Internet of Things (IoT) services in Egypt, according to a statement. The licenses will allow drivers to access navigation, tracking, and emergency call functions while ensuring user data protection.

DIPLOMACY-

Gaza tops the diplomatic agenda: President Abdel Fattah El Sisi pushed for the two-state solution during a meeting yesterday with South Korean special envoy Park Beom Kye, who visited Cairo to mark 30 years of diplomatic ties between the two nations, according to an Ittihadiya statement. During the meeting, El Sisi urged countries to recognize the Palestinian state. Meanwhile, Foreign Minister Badr Abdelatty discussed US President Donald Trump’s Gaza ceasefire plan during a call with US Secretary of State Marco Rubio. Abdelatty welcomed Trump’s efforts to end the war and pressed for urgent de-escalation, full humanitarian aid access, an Israeli withdrawal from Gaza, and no displacement of Palestinians.

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