Good afternoon, friends, and welcome to the almost-weekend. Following the weather, the news cycle is finally starting to experience a cooldown.

THE BIG STORY TODAY-

📍 The government is gearing up for the return of ships through the Suez Canal with a USD 1 bn plan to build bunkering stations, two government sources told EnterpriseAM. The plan includes fixed stations along the canal, in addition to floating bunkering barges capable of refueling Suezmax vessels — the largest of vessels that can still make the transit — each of which will be developed in partnership with the private sector, we were told.

But this is just phase one of a wider USD 2 bn project to bring back major shipping lines through to the canal — essentially shifting the canal from a toll road to a service station pit stop. Alongside the additional bunkering stations, the plan will include providing new maintenance services, logistics services, and services to transiting crews.

Helping push vessels to refuel in Egypt will be a competitive price point, with a government committee currently in talks with interested companies on the matter to see how they can provide a more attractive price than other refueling points on the global trade map.

THE BIG STORY ABROAD-

🌐 It’s a calm afternoon in the global press after what has been a busy week thus far. Among the top stories is Pope Leo XIV’s upcoming trip to Lebanon and Turkey. The pope’s six-day Middle East tour marks his first foreign trip since his election in May. Starting Thursday, the American pope is set to meet with religious leaders in both countries, as well as Turkish President Recep Tayyip Erdoğan and his Lebanese President Joseph Aoun. The pope’s visit to Lebanon, where he is set to champion peace, will come just days after Israel carried out an airstrike on southern Beirut that killed Hezbollah’s acting military chief of staff Haytham Ali Tabatabai, at least five civilians, and injured 28 others. (Associated Press | CNN | New York Times | Washington Post)

☀️ TOMORROW’S WEATHER- It’s going to be another cool day in the capital tomorrow, with the mercury peaking at just 25°C before cooling down to 15°C, according to our favorite weather app.

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