Nepal-Tibet flood death toll rises to 750 as 3,000 remain missing

Good afternoon, friends, and welcome back from the long weekend. Today’s edition of The Enterprise Guide will prove particularly resonant if you find it difficult to let go — we discuss all things delegation below.

Elsewhere in today’s issue: a podcast where celebrities lie on a couch and talk about what their clothes say about who they are, hosted by Sigmund Freud’s great-granddaughter. That and more.

Without further ado, the news…

THE BIG STORY ABROAD-

🌐 Still dominating the front pages since the weekend are the Nepal-China floods, after a glacier and rock collapse triggered catastrophic flash floods and mudslides along the border. The death toll has reportedly surpassed 750 across Nepal and China’s Tibet region, while more than 3k remain missing on both sides of the border.

Rescue efforts continue as the US sends USD 3.6 mn in humanitarian aid, while Nepali emergency workers pump air and drop food supplies into hydropower tunnels where more than 900 workers are believed to be trapped in desperate attempts to reach them. More than 90k people are likely to have been affected by the disaster, according to the Red Cross. The disaster caused widespread infrastructure damage, with repair costs estimated at up to US 5 bn.

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

CLOSER TO HOME- At least 12 people have been killed and dozens injured as wildfires sweep across several provinces in northern Algeria. Interior Minister Said Sayoud said 54 people suffered burn injuries, including six currently in intensive care. The fires come as severe heatwaves sweep across North Africa, particularly Tunisia and Algeria.

^^Read more on: BBC and Reuters.

IN OTHER NEWS- Iceland is making headlines after voters rejected a government proposal to reopen talks to join the European Union. Referendum results showed 52.8% voted against resuming accession talks, while 47.2% voted in favor. The government framed EU membership as a safeguard against trade wars and Arctic rivalry, calling the referendum a “now or never” moment.

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

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

• The US Treasury Department has proposed cutting the UAE outpost of Banque Misr from correspondent banking access to US financial institutions, alleging that the bank’s Emirates-based subsidiary processed USD 1.8 bn for companies that US officials claim are linked to Iranian shadow-banking networks;
• Every private-sector establishment with at least 10 workers must prepare internal workplace regulations under general rules the Labor Ministry launched yesterday. The regulations must comply with the ministry’s framework and the Labor Law, but they will not follow a one-size-fits-all template;
• Egypt’s first digital money management fund platform Granite was admitted to the Financial Regulatory Authority’s regulatory sandbox alongside its technology partner Tarmiiz, where they will create a distributed ledger to maintain the ownership records for a live money market fund. The centralized system on which the fund runs today will continue to operate in parallel.

☀️ TOMORROW’S WEATHER- We should get a bit of a reprieve on the weather front tomorrow, with temperatures in the capital reaching a clear and warm high of 35°C and an overnight low of 25°C. Still clinging on to the Sahel season up north? Expect a high of just 31°C and a low of 24°C, according to our favorite weather app.