Good morning, friends. It’s another busy morning here in Egypt led by a whole lot of very welcome manufacturing news.

WATCH THIS SPACE-

#1- Could we be looking at another electricity price hike soon? The Madbouly government is reviewing electricity prices in light of global changes, Electricity Minister Mahmoud Esmat told Al Arabiya.

Remember: The Electricity Ministry last hiked electricity prices for households, businesses, and the public sector in September. Prices rose 14-40% across the board, with the sharpest increases faced by households with the heaviest consumption.

#2- Four new logistics zones in the making: The Supply Ministry’s Internal Trade Development Authority (ITDA) is planning to set up four logistics zones across the country during 1H 2025 with investments ranging from EGP 18-20 bn, authority head Heba El Sayed told Asharq Business. The authority is looking to kick off more projects in partnership with foreign investors, particularly from the UAE and Saudi Arabia.

IN THE HOUSE-

The House approved a USD 2 bn loan from Emirates NBD, Standard Chartered, and a number of other banks. The funds will go to the Finance Ministry to help meet the basic needs of Egyptians amid ongoing geopolitical tension.

MPs also gave preliminary approval to two draft bills on maritime inspection fees and maritime trade, with a final vote set for a later session. The first bill will update fee structures (no word on how much of an increase folks could be facing), while the second will regulate the process of a vessel acquiring the Egyptian nationality.

On the agenda today: Investment Minister Hassan El Khatib will deliver a statement on the ministry’s efforts to attract investors and make Egyptian exports more competitive.

HAPPENING TODAY-

#1- Investors still have the chance to subscribe to Catalyst SPAC capital increase: Investors have until Thursday to subscribe to Impact investor Catalyst Partners’ SPAC, Catalyst Partners Middle East’ (CMPE) capital increase. The SPAC wants to raise its capital to EGP 235 mn by offering 22.5 mn shares — valued at EGP 10 per share.

Demand is high: The offering was fully covered during its first day, sources close to the transaction told EnterpriseAM.

#2- It’s day two of the D-8 Organization for Economic Cooperation meeting, which Egypt is hosting. The meeting is taking place in the lead up to the Session of the D-8 Council of Foreign Ministers — being held tomorrow — and the D-8 Summit — being held on Thursday.

The D-what? The so-called Developing Eight, founded back in the mid-1990s, includes Egypt, Turkey, Indonesia, Iran, Malaysia, Nigeria, Bangladesh, and Pakistan.

PSA-

WEATHER- It’s another cool day in Cairo, with a high of 22°C and a low of 11°C, according to our favorite weather app.

It’s just as cold in Alexandria, with a high of 21°C and a low of 11°C.

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THE BIG STORY ABROAD-

It’s a busy morning in the international pages, with a number of business and political headlines worth noting.

US forces struck Isis targets in Syria, killing 12 in a precision air raid aimed at disrupting the group’s resurgence. The strikes targeted “former Regime and Russian controlled areas ensuring pressure is maintained on Isis,” the US Centcom said following the attack. The Centcom vowed continued action to ensure Isis doesn’t exploit current instability in Syria. (Financial Times | AP)

OVER IN CANADA- Canada’s Deputy Prime Minister and Finance Minister Chrystia Freeland abruptly resigned after clashes with Prime Minister Justin Trudeau over fiscal policy and US trade threats as president-elect Donald Trump prepares to step into the White House. Freeland’s exit, framed by some as a “leadership crisis,” leaves Trudeau politically vulnerable as his government faces lower approval ratings ahead of next year’s elections. Her resignation follows the departure of several other key ministers, amplifying pressure on Trudeau to step down. Trudeau has tapped close friend Dominic LeBlanc to replace Freeland. (Reuters | New York Times | Financial Times | AP | The Economist | Washington Post | WSJ)

AND- Scholz loses confidence vote: German Chancellor Olaf Scholz lost a confidence vote in the country’s parliament, putting the country on track for an early election next February. The vote follows the collapse of his coalition government after a fallout with his former finance minister.

In context: Scholz wanted the confidence vote to fail so that he could call early elections. Friedrich Merz’s conservative CDU currently leads in polls. (CNBC | Reuters | The Guardian | The Washington Post | France 24 | Bloomberg)

*** It’s Going Green day — your weekly briefing of all things green in Egypt: Enterprise’s green economy vertical focuses each Tuesday on the business of renewable energy and sustainable practices in Egypt, everything from solar and wind energy through to water, waste management, sustainable building practices and how you can make your business greener, whatever the sector.

In today’s issue: We look at what Egypt is doing to up its energy efficiency to help meet climate goals.

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