Good morning, friends and happy hump day. It’s a pretty quiet morning here at home with the latest on our upcoming IMF review once again driving the conversation. We could be in for additional funds from the Resilience and Sustainability Facility if we commit to a handful of climate-focused reforms, bringing our total disbursals from the Fund this fall to USD 2.7 bn.

AND- The Red Sea rush continues: A week after the announcement of Emaar Misr and Citystars Properties’ EGP 900 bn tourism project on the Red Sea, we have word that there’s more where that came from with five new projects in the pipeline.

PSA-

WEATHER- Things are cooling down here in Cairo, with the capital in for a high of 33°C and a low of 23°C today, according to our favorite weather app.

It’s a little cooler in Alexandria, with a high of 30°C and a low of 23°C.

WATCH THIS SPACE-

#1- The National Narrative for Economic Development is now open for community dialogue. The Planning Ministry published its National Narrative for Economic Development on its website and invited citizens to download, read, and submit their feedback on the strategy. The ministry will also hold discussions with experts, researchers, and academics over the next two months as part of a wider community dialogue, according to a statement from the ministry.

REMEMBER- The government launched the five-year vision last week, laying out a roadmap to sustain reforms and push the economy toward trade- and export-led growth. The vision prioritizes manufacturing, tourism, agriculture, energy, and ICT, setting out clear quantitative goals through 2030. The final version of the narrative will be released in December.

#2- US port investments and partnerships incoming? A US business delegation is touring the country’s ports this week to explore collaborating with “Egyptian partners in developing world-class ports,” according to a statement from the US Embassy in Egypt. The delegation included representatives from Bechtel, Cisco, Hill International, TMEIC, OSI/Rapiscan, Aveva, and Alvarez & Marsal Holdings.

“The companies represented in Alexandria today embody the best of American innovation, technology, and expertise,” said US Ambassador Herro Mustafa Garg at the start of the tour, which includes stops at the ports at Damietta, Port Said, and Ain Sokhna. “This US business delegation is eager to support Egypt’s port development efforts, laying the groundwork for enhanced security, economic growth, and prosperity for both our nations,” she added.

DATA POINT-

Suez Canal Economic Zone revenues hit record high: The SCZone booked record revenues of EGP 11.6 bn last fiscal year — up 38% y-o-y and 11% above forecasts, according to a statement from the Suez Canal Authority.

SUKUK WATCH-

Weekly sukuk roundup: The yield to maturity on our sovereign sukuk fell sharply to 6.30% last Thursday, down from 7.44% the week before, according to the weekly report (pdf) about the performance of our sovereign sukuk. Egyptian sovereign sukuk prices rose to USD 102.02, up from USD 101.60 a week earlier.

HAPPENING TOMORROW-

The Cairo Regional Forum on Financing Renewables, Green Hydrogen, andGreen Ammonia kicks off tomorrow at Nile University. The two-day event, hosted by the GH2 International Green Hydrogen Center of Excellence in Cairo, will bring together policymakers, renewables payers, financial institutions, and others to discuss renewable energy investment and collaboration in the region.

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THE BIG STORY ABROAD-

International headlines are locked on US President Donald Trump’s visit to the UK this week, where Washington and London are set to roll out over USD 10 bn in economic agreements covering science and technology, civil nuclear power, and defense tech. The package — which officials say will deepen financial and innovation ties — will be unveiled during an event with UK Prime Minister Keir Starmer and Chancellor Rachel Reeves. (Reuters | Bloomberg | CNN | BBC | The Guardian | Associated Press | New York Times)

CLOSER TO HOME- Qatar’s emir has urged Arab and Muslim leaders to take “concrete steps” against Israel after last week’s missile strikes in Doha that targeted Hamas leadership, writes the Financial Times. In his speech during yesterday’s emergency Arab-Islamic summit, Sheikh Tamim bin Hamad Al Thani denounced the attack as “blatant, treacherous and cowardly” and accused Israel of waging a “genocidal war” on Palestinians.

El Sisi attended the summit, where he delivered his own speech condemning Israel’s attack and expressing Egypt’s solidarity with Qatar. We have the details of El Sisi’s time in Doha in the news well, below.

AND IN MARKET NEWS- Alphabet became the fourth US company to hit a market cap of USD 3 tn yesterday after shares hit a record USD 252 on the back of investor optimism following the company’s July results. (Financial Times | Reuters | CNBC | Bloomberg | Wall Street Journal)

ALSO WORTH NOTING THIS MORNING- A wave of Gen Z revolutions is reshaping Asian politics, as youthful protesters from Nepal to Bangladesh and Indonesia mobilize social media platforms to topple entrenched leaders, demand transparency, and challenge corrupt elites. (Financial Times)

*** It’s Going Green day — your weekly briefing of all things green in Egypt: EnterpriseAM’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 take a look at the agricultural production challenges holding back the country’s export ambitions.

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