Good morning, folks. More of the country’s largest companies were out with earnings releases over the weekend and important green energy updates emerged from both the public and private sector. We’ve got this and more in today’s short, but nonetheless important, issue for you today.

WATCH THIS SPACE-

Our green hydrogen strategy is here: The government last week announced the NationalLow-Carbon Hydrogen Strategy, which aims to transform Egypt into a global hub that targets 5-8% of the global green hydrogen market by 2040, according to a cabinet statement.

The end goal: If implemented, the strategy could add between USD 10-18 bn to Egypt’s GDP by 2040, create over 100k jobs, and enhance our energy security by reducing reliance on gas imports. The strategy also aims to transform Egypt into a leading international export hub for hydrogen and its derivatives.

Want the full story? Check out the strategy here (pdf) or wait for our coverage in this week’s Going Green on Tuesday.

PSA-

WEATHER- Warm weather continues in Cairo today, with a high of 36°C and a low of 26°C, according to our favorite weather app.

It’s a bit cooler in Alexandria and along the North Coast, with a high of 33°C and a low of 24°C.

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CIRCLE YOUR CALENDAR-

#1- The EFG Hermes London Conference is back: EFG Hermes will hold its annual conference in London on 9-12 September, giving investors “unique and unparalleled access to leading equities in MENA and key frontier emerging markets.”

#2- BEBA mission to the UK to take place next month: The British Egyptian Business Association (BEBA) will be in the UK for a three-day business mission from 18-20 September to discuss promising investments, “rising industries and the overall business climate in Egypt.” The mission is set to include Finance Minister Ahmed Kouchouk, Investment and Foreign Trade Minister Hassan El Khatib, CBE Deputy Governor Ramy Aboulnaga, FRA chairman Mohamed Farid, SCZone head Walid Gamal El Din, and Administrative Capital for Urban Development chairman Khaled Abbas.

Check out our full calendar on the web for a comprehensive listing of upcoming news events, national holidays and news triggers.

THE BIG STORY ABROAD-

It’s a relatively quiet morning in the international press, although there are a couple of stories broadly getting ink:

#1- Post-mortem on Ukraine’s latest victory in Russia: The Wall Street Journal and Reuters are among those running analysis pieces this morning to dissect how Ukraine managed to pull off its invasion of Russia’s Kursk region last week, which signaled a significant victory for Kyiv. The assault — “the biggest invasion of Russia since World War Two” — came in large part to intelligence failures in Russia, in addition to Ukraine’s use of electronic warfare.

#2- Israel killed two senior Hamas members in an airstrike on the West Bank yesterday, one day after a separate strike in Lebanon killed 10 people and injured five others, all of whom were Syrian nationals. The attack in Lebanon targeted a weapons depot used by Hezbollah, Israel claimed. The two Hamas members were reportedly responsible for killing an Israeli man in a shooting attack in the West Bank, Israel said. (Reuters | Financial Times)

Hamas objected to new conditions added to a ceasefire proposal originally laid out by US President Biden during last week’s round of talks mediated by Egypt, Qatar, and the US in Doha, according to a source speaking to AFP. The added proposals include allowing Israel to keep its troops stationed at Gaza’s border with Egypt, alongside new terms for swapping hostages for prisoners. Hamas, which did not attend the talks, was briefed on them as they unfolded.

Hamas’ refusal comes as US President Joe Biden has said that an agreement is closerthan ever after the talks were put on pause Friday, to be resumed this week. Biden reportedly wants the ceasefire to go through as soon as possible in order to avoid a wider regional war should Iran stay true to its pledge to issue a retaliatory strike against Israel. “With the comprehensive cease-fire and hostage release deal now in sight, no one in the region should take actions to undermine this process,” Biden said.

But mediators are pressing ahead with efforts to hammer out an agreement, with senior government officials from Egypt, Qatar, and the US set to reconvene in Cairo before the end of the week in a bid to finalize an agreement based on the proposal presented in Doha, according to a joint statement by the three countries. Technical teams will continue to work in the coming days on the implementation details, according to the statement, which describes the latest round of talks as “constructive” and the proposal as “consistent with the Security Council’s resolution ” for a three-phase ceasefire. President Abdel Fattah El Sisi and Joe Biden agreed to “intensify joint efforts” during a phone call over the weekend.

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