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We have a brisk read for you today, heavily featuring trade updates from the region.

Leading today: Egypt is cementing its role as an indispensable regional energy hub, activating a gas corridor to the Levant by routing imported natural gas through Jordan to help stabilize the grids in Syria and Lebanon.

Meanwhile, a major reprieve is on the horizon for Egyptian heavy industries. We’ve learned that the EU is set to grant Egyptian exporters a two-year exemption from its carbon tax (CBAM) through 2027, buying critical time for local steel, cement, and fertilizer players to decarbonize before surcharges kick in.