Good afternoon, ladies and gentlemen. And just like some of you, the news appears to be bridging the New Year with the banking holiday this Thursday in observance of Coptic Christmas.

There are a few hours left for you to take our annual reader poll — and potentially join us for breakfast. Every year, we ask our readers to weigh in on what you expect for the year ahead in our Enterprise Reader Poll. Take a few minutes to give us your take on the outlook for your business and industry, whether you’re planning fresh investments and new hires, and how your business fared in the year past. We’ll share the results with the entire community next week to help shape your view of the year — and will invite eight of you to break bread with us. Another dozen of you who complete the poll will also get special Enterprise mugs to enjoy your morning beverage of choice.

The poll will close at midnight CLT tonight.

THE BIG STORY TODAY- Seven international companies were awarded exploration and production licenses for eight oil and gas concessions in the Mediterranean, the Western desert, and the Gulf of Suez, with a minimum investment value of c.USD 250 mn, the Oil Ministry said today. The licenses were awarded to Eni, BP, Apex International, Energean, United Energy, INA Naftaplin, and Enap Sipetrol.

^^We’ll have more on this story and others in tomorrow’s EnterpriseAM.

HAPPENING NOW-

OPEC is currently meeting to discuss who should be its next leader as Mohammad Barkindo of Nigeria prepares to wrap up his second and final term by mid-year, according to a letter seen by Reuters. Barkindo has been the cartel’s secretary-general since August 2016. Keep an eye on the OPEC secretariat Twitter page for an announcement once the meeting wraps.

OPEC+ is meeting tomorrow to decide whether to go ahead with plans to add another 400k barrels per day to the market in February.

** CATCH UP QUICK on the top stories from today’s EnterpriseAM:

• Export revenues reached a record USD 31 bn in 2021, growing 24% y-o-y, Prime Minister Moustafa Madbouly said.
• Suez Canal revenues also hit their highest level on record last year, coming in at USD 6.3 bn, up 12.2% y-o-y, according to Suez Canal Authority boss Osama Rabie.
• CI Capital’s leasing arm Corplease closed a four-tranche EGP 2.4 bn securitized bond issuance, with Misr Capital as the lead manager, coordinator, and financial advisor.

THE BIG STORY ABROAD-

Turkey’s inflation surged to its highest level in 19 years, registering 36% in December and marking a sharp m-o-m jump from 21.3% in November, as the country’s currency crisis continues to deepen, Bloomberg reports. The TRY has shed 44% of its value against the greenback, with President Recep Tayyip Erdogan insisting on lowering interest rates as part of his unorthodox monetary policy.

US President Joe Biden promised Kiev that the US and its allies will “respond decisively” to Russian military aggression on Ukraine in a phone call with Ukraine President Volodymyr Zelensky, according to a White House statement. Washington and Moscow are scheduled to sit down for security talks about Ukraine on 10, 12 and 13 January.

FOR TOMORROW-

PMI: Purchasing managers’ index figures for December for Egypt, Saudi Arabia, and Qatar will be released tomorrow. Figures for the UAE will be released on Wednesday. Egypt’s non-oil business activity has remained in contraction territory for each of the past 12 months, as inflation and supply chain bottlenecks continued to weigh on private sector firms. Last month, output fell for the third consecutive month, as output price inflation rose at the second-fastest pace since mid-2018.

Purchasing managers surveyed in November’s report signaled that inflation will continue to suppress output and undermine improvement in activity over the coming year.

This is why next week’s inflation figure is crucial: Inflation figures for December will be released on Monday, 10 January. Annual urban inflation slowed for the second month running in November and dipped to its lowest since July as pressure on food prices continued to ease, but some analysts have flagged a potential acceleration in inflation figures. What’s to blame? Persistent global inflation, a potential scale-back of food subsidies, potential electricity price increases, and a rise in demand following higher employment rates.

???? CIRCLE YOUR CALENDAR-

Key news triggers to keep your eye on:

• Foreign reserves: December’s foreign reserves figures will be announced before the week is out.
• Interest rates: The Central Bank of Egypt (CBE) will hold its first policy meeting of 2022 later this month. The CBE hasn’t yet published its meeting schedule for the year so we’re still waiting on an exact date.

The 2021 Africa Cup of Nations gets underway in Cameroon next Sunday, 9 January. The championship will run until Sunday, 6 February.

The World Youth Forum kicks off in Sharm El Sheikh next Monday, 10 January and runs until Thursday, 13 January. .

Check out our full calendar on the web for a comprehensive listing of upcoming news events, national holidays and news triggers.

☀️ TOMORROW’S WEATHER- There’s another slight chance of rain tomorrow, with the mercury expected to reach 19°C during the day before falling to 9°C at night, according to our favorite weather app.