Twin earthquakes kill at least 164 in Venezuela, death toll expected to climb

Good afternoon, friends, and congratulations on making it to the weekend. In today’s issue, we’ve got a story that sounds like good news before it isn’t: women in Egypt are actually more likely to get a callback on a job application than men, but they’re working (and paid) less. We also have a Netflix series that’s genuinely difficult to pause, and everything you need to know ahead of a World Cup weekend that includes Egypt vs. Iran.

Up first, the news…

THE BIG STORY ABROAD-

🌐 Two earthquakes in Venezuela — the country’s most powerful in more than a century — have killed at least 164 people. A 7.2 magnitude earthquake first struck roughly 100 miles west of Caracas, followed less than a minute later by another, even stronger 7.5 magnitude quake, according to the US Geological Survey (USGS). Interim President Delcy Rodriguez says at least 700 people were injured, while dozens of buildings collapsed in La Guaira state. The USGS warns the death toll could exceed 10k as rescuers continue to search through the rubble. The US, Chile, and China have already sent aid to the South American country.

^^Read more on: BBC, CNN, The Guardian, and Reuters.

IN THE BUSINESS PRESS- Memory chipmaker Micron jumped more than 16.4% in pre-market trading after posting stronger-than-expected 3Q earnings. The company has secured USD 22 bn in customer commitments for its memory chips — a surge largely driven by AI-related demand. Micron’s positive earnings and forecast have eased AI fears and sparked a broader rally across tech stocks.

^^Read more on: CNBC and Reuters.

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

• MNT-Halan is weighing an IPO of its Egyptian business on the EGX as early as this year. The fintech unicorn has tapped Citigroup and EFG Hermes to manage the potential transaction, pitching investors an estimated valuation of up to USD 1 bn for its domestic operations;
• Rolls-Royce entered the Egyptian market with a temporary showroom and service facility in New Cairo, ahead of a permanent showroom and design atelier due later this year. Beyond just a sales point, the company is positioning Cairo as a base to serve underdeveloped luxury markets across North Africa;
• Chinese renewables equipment manufacturer Sany Group signed an MoU to build Egypt’s first wind turbine factory and a wind farm in the Gulf of Suez. The plant will have an annual production capacity of 2 GW.

☀️ TOMORROW’S WEATHER- We’re in for a particularly warm start to the weekend in Cairo, with temperatures set to hit a high of 35°C and a low of 24°C. Headed to the North Coast? You’ll be in for relatively cooler weather, with a high of 31°C and a low of 22°C, according to our favorite weather app.