Good afternoon, all. It appears that we have hit the pre-eid news slowdown, with things fairly calm on the homefront.

THE BIG STORY TODAY-

Madinet Masr announces Emirati subsidiary: Real estate developer Madinet Masr is setting up a subsidiary in Dubai — dubbed Cities of the World — to manage its projects outside of Egypt, according to a press release (pdf). The move is “a key part of Madinet Masr’s strategic expansion plan, which aims to strengthen the company’s regional and international presence and unlock new opportunities across a range of real estate development sectors.”

We had an idea this was coming: CEO Abdallah Sallam had mentioned that the developer was in talks with potential partners in the UAE and Saudi Arabia for its planned GCC expansion.

THE BIG STORY ABROAD-

At least 30 killed near Israeli-backed aid hub in Gaza: Israeli forces opened fire near an aid distribution site run by the US and Israeli-backed Gaza Humanitarian Foundation in Rafah earlier today, killing at least 30 Palestinians and injuring over tens others. The Israeli military said it is “unaware” of injuries caused by its fire at the aid hub, which it claims operated “without incident,” though multiple witnesses say Israeli forces fired from tanks, drones, and warships as thousands approached the site. (Bloomberg | Reuters | BBC | CNN)

enterprise

*** It’s Inside Industry day — your weekly briefing of all things industrial in Egypt. Inside Industry focuses each Sunday on what it takes to turn Egypt into a manufacturing and export powerhouse, ranging from initial investment and planning to product distribution, through to land allocation to industrial processes, supply chain management, labor, automation and technology, inputs and exports, regulation and policy.

In today’s issue: We look at efforts to strengthen the local iron and steel industry and transform the country into a regional industrial hub.

☀️ TOMORROW’S WEATHER- The capital will be seeing warm breezy weather tomorrow, with the mercury set to peak at 31°C throughout the day before cooling down to 20°C at night, according to our favorite weather app.

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