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Good afternoon, wonderful people, and happy almost-THURSDAY to us all. The tension that we started this morning with is still carrying over throughout the day, and continues to lead the conversation in the region and the world.
THE BIG STORY TODAY
FinMin in talks for USD 500 mn in financing from Deutsche Bank and Bank ABC: The Finance Ministry is looking to take out two loans worth USD 500 mn from Deutsche Bank and the Arab Banking Corporation (ABC) to finance and refinance some of the projects included in this fiscal year’s budget, Al Mal reports, citing unnamed members of parliament. The newspaper did not specify the projects, saying only that they are compliant with ESG standards.
THE BIG STORY ABROAD
US President Joe Biden’s support for Israel’s claim that the bombing targeting a Gaza hospital was a result of “friendly fire” is dominating the conversation in the international press. The bombing of the Al Ahli Al Arabi hospital yesterday that took the lives of c. 500 people, many of them children, prompted the Arab leaders of the region to call off the meeting with Biden in Jordan to discuss the crisis. (Reuters | Bloomberg | Associated Press | Wall Street Journal | Washington Post | Financial Times)
** CATCH UP QUICK on the top stories from today’s EnterpriseAM:
- Exchange controls are tightening:The Central Bank of Egypt (CBE) has asked (pdf) banks to impose limits on the use of credit cards for foreign-currency transactions at home and abroad, a week after introducing curbs on debit cards in response to the country’s FX shortage.
- Global outcry as hospital strike kills hundreds in Gaza: As many as 500 people were killed yesterday after Israel bombed a hospital in Gaza.
- Dice’s founding family is set to increase its share of the company to c. 80%: The Financial Regulatory Authority (FRA) published the offer (pdf) from the founders of EGX-listed clothing company Dice Sports and Casual Wear to purchase more than 838 mn of its shares — 46.9% of the company.
☀️ TOMORROW’S WEATHER- Expect sunny skies with the mercury reaching 31°C in the daytime and dropping to a cooler 21°C in the evening, according to our favorite weather app.
