? Good afternoon, friends, and Merry Christmas. It’s a cool, breezy day — both literally and figuratively — and we’ve got a brisk issue to match this afternoon. Let’s dive right in.

**A QUICK PROGRAMMING NOTE- EnterprisePM is taking a publication holiday tomorrow, and will be back in your inboxes on Sunday afternoon. Until then, enjoy the weekend.

THE BIG STORY ABROAD-

? Global oil prices dropped on Wednesday as oil tankers from the US head to Venezuela to begin loading stranded Venezuelan oil. This comes as US President Donald Trump announces an agreement to import up to 50 mn barrels of crude from Venezuela — estimated to be worth some USD 3 bn. Crude prices fell over 1% on account of an anticipated supply surplus.

MEANWHILE- European markets remain cautious as Europe reacts to the White House’s threat to “acquire” Greenland militarily. In a statement on Tuesday, Danish Minister Troels Lund Poulsen said Denmark is ready to spend USD 13.8 bn on arming Greenland to defend against any US aggression.

^^Read more on: Bloomberg, CNBC, The Guardian, and Reuters.

The roundup of news and trends that move your markets and shape corporate agendas delivered straight to your inbox.

Subscribe here

** CATCH UP QUICK on the top stories from today’s EnterpriseAM:

  • Gourmet is getting ready to go public. The company has submitted a request to the Financial Regulatory Authority (FRA) to IPO on the EGX;
  • The Finance Ministry is weighing a one-to-two-year extension of the property tax exemption for some 20 manufacturing sectors. The current grace period, where the state foots the EGP 3.3 bn annual tax bill for manufacturers, is set to expire this month;
  • The Madbouly Government is kicking off the year with a plan to add 13 new companies to its privatization program. The plan also includes a selldown of stakes owned by state-owned banks in government-related companies and taking other companies public.

☀️ TOMORROW’S WEATHER- We’re in for a warm, sunny day in Cairo, with temperatures set to peak at 26°C before cooling down to 17°C, according to our favorite weather app.

Tags: