Good morning, friends. We’ve got a busy issue today to wrap up what has been a pretty busy week for local business news this week. Topping the news today is Prime Minister Moustafa Madbouly naming ten companies on the privatization cutting board for next year, another company getting ready for an IPO on the EGX, and much, much more. We’re short on space, so let’s jump right in.

PSA-

WEATHER- Take special care on the roads in and around Cairo today, with heavy fog forecast, along with a high of 22°C and low of 14°C, according to our favorite weather app.

Alexandria is also expecting heavy fog, along with a high of 23°C and a low of 11°C.

And over the weekend, expect to see temperatures dip a couple of degrees in the capital and in Alexandria.

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HAPPENING TODAY-

#1- Egypt-China strategic dialogue kicks off: Foreign Minister Badr Abdelatty will co-chair the fourth round of the Egypt-China strategic dialogues in Beijing today, alongside his Chinese counterpart, the ministry said in a statement. The talks seek to strengthen bilateral ties, expand sectoral cooperation, and tackle regional and global issues. Abdelatty is also set to meet senior Chinese officials and top execs from Chinese firms operating in Egypt.

#2- It’s day one of the Turathna exhibition: The annual MSMEDA-organized Turathna will kick off this morning at the Egypt International Exhibition Center, and run for the next ten days until 21 December. The exhibition is set to host 1k+ exhibitors representing crafts and heritage arts from across the country.

HAPPENING NEXT WEEK-

The first Egyptian-German Cooperation Day will kick off on Sunday with a focus on “social equity, and economic resilience in the shift towards a green economy,” the German embassy said in a statement(pdf). Senior German and Egyptian figures from the worlds of business, government, and development will gather for the event, which will witness a EUR 30 mn debt swap signing and also hopefully news of fresh investments and projects.

We’ve heard quite a bit about Egypt-bound investments coming from Germany recently, including a EUR 1 bn direct reduced iron factory courtesy of industrial manufacturer SMS Group, a EUR 30 mn flame-resistant material factory from advanced textile material producer Belchem, a A EUR 5 mn first phase of a bicycle parts factory spearheaded by German bicycle manufacturer Cube, and a factory by auto parts manufacturer Mutares Group that came to light during Investment Minister Hassan El Khatib’s trip to the country late last month.

Sunday’s event isn’t the only upcoming event between the two countries that the local business community should keep an eye on, with the German-Egyptian Joint Economic Committee pencilled in for 18-19 February in Cairo.

THE BIG STORY ABROAD-

It’s a mixed bag in the global press this morning, with developments in Syria taking a backseat — for now at least — and a lack of any major business stories to take note of.

News of FBI Director Christopher Wray’s decision to step down from office is ranking high in the often US-centric global papers. The move to step down prematurely came not two weeks after the president-elect said he would fire Wray over the bureau searching his Florida home for classified documents in 2022 and replace him with Trump loyalist Kash Patel to lead the bureau — marking the second director of the bureau to be pushed out by Trump. (Financial Times | Wall Street Journal | Reuters | Associated Press | New York Times | Guardian)

The fallout from South Korean President Yoon Suk Yeol's short-lived declaration of martial law is continuing to receive ink, with the police’s attempt yesterday to search his office as part of a mounting criminal investigation against the head of the country for charges of insurrection. (Reuters)

While in our part of the world, Saudi Arabia is set to host the 2034 men’s FIFA World Cup, the world’s football governing body said yesterday. Morocco was confirmed to co-host the 2030 edition, alongside Spain and Portugal. (Bloomberg | Reuters | AP)

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