Good afternoon, ladies and gentlemen, and happy almost-Thursday. The end of fall weather seems to have swept through Om El Donia as we wrap our scarves a little tighter today and prepare for the end of year slump.

THE BIG STORY TODAY

ACWA inks agreement for USD 4 bn ammonia project: Egypt signed a USD 4 bn framework agreement with Saudi Arabia’s ACWA Power to develop a green hydrogen project that will produce 600k tons of green ammonia annually in its first phase, a cabinet statement said.

The agreement marks ACWA’s fifth green energy project in Egypt, with others including a 200 MW Kom Ombo solar power plant and a USD 1.5 bn, 1.1 GW wind farm in the Gulf of Suez that ACWA Power and Hassan Allam expect to break ground early next year.

Details underway: A work plan will now be drawn up for the project, the statement said, and will aim to increase production capacity to 2 mn tons of ammonia annually in its second phase. The statement did not disclose the expected timeline for the project.

THE BIG STORY ABROAD

Trump’s presidential run is at stake and it’s making headlines in the international press, and we cover the details in our commute story below. Meanwhile,the Yemeni-based Houthi’s are still in the news, as their attacks impact Red Sea cargo and global trade. Now that ships are diverting about USD 35 bn in cargo to the much longer route around the Cape of Good Hope — adding about USD 1 mn in fuel costs insurance — freight and oil prices are on the rise. Global oil benchmark Brent crude futures rose 1.1% and US West Texas Intermediate crude rose 1.3%, according to Reuters. Companies are now considering rail and air shipments to support the waterway that accounts for 12% of global trade, says Bloomberg.

Remember: The Suez Canal is the most important route between Asia and Europe for trade, especially for oil and LNG.

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WHO YOU ARE- We're looking for gifted storytellers with a minimum of four years of work experience in investor relations, finance, banking, economics, or a related field to develop cutting-edge products and maintain relationships with a portfolio of clients. Candidates should have a bachelor's degree or higher in finance, accounting, economics, business administration, or a related discipline. We're looking for someone whose passion for storytelling is matched with strong analytical and problem-solving skills, as well as the ability to interpret and present financial data — with a keen eye for details and accuracy.

INTERESTED IN APPLYING? To apply for the position, drop us a line at jobs@enterprisemea.com and mention “Enterprise Advisory” in your subject line. Please send a solid cover letter telling us a bit about who you are and why you’re a good fit for our team. We want to see your CV, but the most important thing is a cover letter that makes us want to pick up the phone and give you a call.

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

HELP GAZA-

Want to support relief efforts in Gaza, but don’t know how? We’ve got you. More than 1 mn people in Gaza have been thrown from their homes and every human being there lacks access to food, water, and fuel amid the most intense bombardment any population has endured this century.

The folks at Talabat are processing donations for a range of Gaza relief appeals by charities including the Egyptian Food Bank and Misr El Kheir. Pay in EGP using your credit card.

Or check out our list of charities to which you can make direct donations via bank deposit and / or Fawry.

HAPPENING NOW-

PRIVATIZATION PRESSER- Prime Minister Moustafa Madbouly is expected to hold a press conference as we are heading to dispatch to discuss recent developments in the privatization program — and a preview on what could come next. Check our coverage from this morning for more on what to expect from the press conference.

HAPPENING TOMORROW-

The Central Bank of Egypt’s MPC meeting will be taking place tomorrow to set interest rates. Our analyst poll sees the CBE holding rates steady for the third meeting in a row.

?️ TOMORROW’S WEATHER- Expect a partly cloudy day tomorrow with a high of 19°C during the day and a low of 14°C in the evening, according to our favorite weather app.

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