Israel ramps up natural gas exports to Egypt

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THE BIG STORY TODAY

Israeli natural gas exports to Egypt have ramped to 650-750 mn cubic feet per day (mcf/d) starting this week, a government source told EnterpriseAM. After Israel restarted Egypt-bound exports with the reopening of its Leviathan gas field on Wednesday, limited exports only amounted to less than 200 mn mcf/d and were expected to gradually rise to 850 mcf\d in the next two months, a government source previously told EnterpriseAM.

THE BIG STORY ABROAD

US President Donald Trump’s tax-cut and spending megabill passed the senate in a knife-edge 51-49 vote to open a debate on the bill, potentially opening up the way to legislation for the Trump administration to fund its military spending plans, immigration priorities, and wide-ranging set of planned tax cuts. Trump took to Truth Social to celebrate the bill passing as “great victory” that will increase growth, reduce waste, and work towards enabling the administration’s priorities.

Senate Minority Leader Chuck Schumer derided the bill as paying “for tax breaks for b’naires at the expense of healthcare and food assistance,” and called for the Democrats to force the chamber to read the 940-page bill “from start to finish” in a bid to unpack and derail the bill. (Reuters | Associated Press | Washington Post | New York Times | Wall Street Journal)

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☀️ TOMORROW’S WEATHER- The sunny streak continues in the capital tomorrow, with the mercury set to peak at 37°C, before dropping to 23°C at night. If you’re still up north, expect cooler temperatures, with a high of 27°C and a low of 25°C, according to our favorite weather app.