Good afternoon, wonderful people. It’s been a pleasantly relaxing day for news after the insanity of this morning, so we propose you take a moment or two and begin your afternoon commute with this gloriously profane “digital syllabus” from a 74-year-old US professor who’s clearly not delighted a the prospect of being forced into the classroom (watch, runtime: 14:14). It’s worth watching all the way through.

Maybe it’s inspiration for your next earnings call or team video call?

(We’re not joking about this being gloriously profane — do not want this playing with little ears listening. The professor in question has been suspended for offending the tender ears of his students.)

THE BIG STORY TODAY

BUDGET WATCH- Egypt registered a EGP 3.2 bn primary surplus in 1H2021-2022, rising 10.3% y-o-y, Finance Minister Mohamed Maait said today, according to a statement. The surplus came on the back of a 15.7% y-o-y increase in tax revenues, Maait added. Government spending increased 12% y-o-y to EGP 82 bn in the first half of the fiscal year, with increased allocation going towards health services and projects such as the Decent Life initiative.

HAPPENING NOW-

It’s Day 3 of digital Davos: Saudi Energy Minister Prince Abdulaziz bin Salman Al Saud is among the public speakers in a panel to discuss the transition to green energy, which is ongoing as we hit “send” on this afternoon’s edition. Environment Minister Yasmine Fouad will make an appearance later today in a discussion on investment in low-carbon technologies.

Irrigation Minister Mohamed Abdel Aty is at the Dubai Expo today for the two-day Water-Food-Energy Summit, which kicked off yesterday, according to the ministry.

South Korean President Moon Jae-in will be in town later today for a trip lasting through Friday in what will be the first visit to Egypt by a South Korean president in 16 years. Moon will meet with President Abdel Fattah El Sisi during a regional tour. The South Korean leader was in Riyadh earlier today, after swinging through the UAE on Monday.

On the agenda: The two presidents are expected to hold talks with the aim of signing a trade agreement between the countries, as well as discuss cooperation on EVs, water desalination, green hydrogen and renewables.

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

• Public sector minimum wage to rise 12.5% from July: The monthly minimum wage paid to public sector workers will rise to EGP 2.7k from EGP 2.4k as of the start of the next fiscal year in July on the instruction of President Abdel Fattah El Sisi.
• Vodacom shareholders approve Vodafone Egypt acquisition: A majority of South Africa’s Vodacom Plc shareholders approved the acquisition of Vodafone Group’s 55% stake in Vodafone Egypt.
• Dabaa on track: Construction on the Dabaa nuclear power plant is on track to begin “this summer, tentatively in July,” the director of Russia’s state-owned Rosatom General Alexey Likhachev said.

THE BIG STORY ABROAD-

It’s another economics-centric news day in the global business press, leading with UK inflation spiking to its highest rate in three decades. The unexpected jump, which saw consumer prices increase 5.4% last month, was driven largely by food and beverages, furniture, and hospitality, puts added pressure on the Bank of England (BOE) to raise interest rates again next month, Bloomberg suggests. The inflation rate, which is outstripping wage increases, has weakened household spending and will likely affect utility bills, which are expected to jump in April. In December, BOE raised interest rates for the first time since the outset of the pandemic. In 4Q2021, UK inflation hit 4.9%, up from a forecast 4.3%. The story is also getting ink from CNN, the Guardian, and CNBC, among others.

The knock-on effect: Yields on Germany’s 10-year Bund are officially in positive territory for the first time in nearly three years, with investors pricing in interest rate hikes as policymakers look to rein in inflation, the Financial Times reports. The UK’s higher-than-expected inflation figures “added to the upward pressure” on the Bund and other global bonds, the FT notes.

FOR TOMORROW- Taking stock of Nafeza: Lynx Strategic Business Advisors is hosting a webinar tomorrow at 1pm CLT that will see Customs Authority chief Elshahat Ghatwary and Misr Technology Services’ Khaled Nassef discuss the progress on implementing the new digital customs system, Nafeza. The keynote speakers will also discuss their recommendations for the way forward and how to expand the application of the system. You can register for the webinar here.

???? CIRCLE YOUR CALENDAR-

The Cairo International Book Fair opens next Wednesday, 26 January at the Egypt International Exhibition Center. The event runs 13 days until 7 February.

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

☀️ TOMORROW’S WEATHER- Another freezing night ahead: Expect a daytime high of 15°C and a nighttime low of 6°C overnight, our favorite weather app tells us. Expect more of the same (plus or minus a degree or two) for the next 10 days.