Good afternoon, everyone. After a few busy days, it appears that the newscycle — at least on the home front — has taken a breather.

THE BIG STORY TODAY-

Remittances from Egyptians abroad continued their upward pace to kick off the year, rising by 83.2% y-o-y to USD 2.9 bn in January — the highest figure ever recorded during the month, according to data (pdf) from the Central Bank of Egypt. The numbers are similarly positive in the longer term, with the first seven months of the current fiscal year having seen an 81% y-o-y increase in remittances to some USD 20 bn — up from USD 11 bn during the same period last year.

That’s two y-o-y record breaking months in a row: Remittances back in December reached USD 3.2 bn, in what was another all-time high for the month.

THE BIG STORY ABROAD-

China puts forward terms that could open the door to trade talks with US: Beijing signals readiness to partake in trade talks with the US administration if a list of its conditions are met — these include the US “showing more respect” by toning down “disparaging” remarks made by members of the US cabinet, Bloomberg reports, citing an unnamed source. “China is looking for: respect, consistency and a point person,” Societe Generale SA Greater China Economist Michelle Lam said. Trade relations between the two sides have been under threat since US President Donald Trump slapped Chinese goods with a 145% tariff, which Beijing retaliated against.

MEANWHILE- Trade talks between the EU and US show little progress, Bloomberg reports, citing sources familiar with the discussions. Meetings that brought together EU officials and members of the Trump administration ended with EU Trade Chief Maros Sefcovic leaving “with little clarity on the US stance.” The bloc now expects the tariffs imposed on imports to the US to stay.

☀️ TOMORROW’S WEATHER- Temperatures are still on the up-and-up, with the weather tomorrow expected to be a cloudy 30°C in the capital, before dropping to a cool 15°C at night, according to our favorite weather app.

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