We’ve got a few things that have us excited for this week, ladies and gentlemen. First off, it’s the last work week before Ramadan begins, with the first day of fasting expected to take place Saturday, 2 April. Maghrib prayers are at 6:14pm CLT on the first day of the holy month (6:20pm in Alexandria), while you’ll have until 4:15am CLT to caffeinate or otherwise consume the sohour of your choice ahead of fajr prayers (4:18am in Alexandria).

We’re also excited at launching our first EnterprisePM industry vertical. More on that below.

It’s also Oscars night: You can catch the 94th Academy Awards on OSN Movies. It’s a bit of a mad rush, but you can still binge some of the nominated movies ahead of tonight’s show, which will see organizers trying to return to form with three women comedian hosts for the first time in its history. Our favorite nominated films are Dune, The Power of the Dog, Drive My Car and Licorice Pizza.

THE BIG STORY TODAY-

Fintech startup Khazna could make a SPAC debut in 2024, a company spokesperson told Enterprise, confirming a report from Al Shorouk quoting Khazna’s co-founder and CEO Omar Saleh. The startup is looking into setting up a blank check company with international investors, which it could then take public with a listing either at home or abroad.

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

• No int’l wheat purchases before mid-May –El Moselhy: Egypt won’t be tapping the international wheat market with new tenders before the middle of May after having received all its backlogged orders of Russian wheat, Supply Minister Ali El Moselhy said.
• NBE launches EGP 2 bn SME fund of funds: A group of banks and financial institutions led by the National Bank of Egypt have launched Egypt’s first fund of funds, which has reached a EGP 905 mn first close.
• The search for budget cutbacks starts in April, PM asks us all to drive a bit less: Ministries and government agencies will start looking at ways to trim spending from the beginning of next month as the cabinet tries to get its fiscal house in order amid spiraling international commodity prices and the war in Ukraine.

We promised back when we launched EnterprisePM last year that we were redoubling our focus on news analysis and explainers that take you beyond the headlines as well as updating you on the news of the day so you start your evening without FOMO. EnterprisePM would also give us the space we need to discuss issues, topics and industries at length without making EnterpriseAM a burden to read.

We're taking it to the next level this afternoon with the launch of Inside Industry, your weekly briefing of all things industrial in Egypt. Presented with the financial support of our friends at IDG, Inside Industry is our first weekly, editorially independent industry vertical for EnterprisePM. WIth a focus on what it takes to turn Egypt into a manufacturing and export powerhouse, the scope of the Inside Industry is massive, covering everything from initial investment and planning to product distribution and everything in between. From land allocation to industrial processes, supply chain management, labor, automation and technology, inputs and exports, regulation and policy — it's all Inside Industry.

Look for Inside Industry every Sunday on EnterprisePM for the stories, analysis pieces, explainers, interviews, and reports that will help keep you informed on industrial development in Egypt.

In today’s issue: Earlier this month, the Madbouly Cabinet announced a new strategy that looks to give automakers incentives to assemble here in Egypt with an eye towards turning Egypt into a manufacturing hub and launchpad for regional exports. But having gone through the highs and lows of the automotive directive, what do auto players think of the new strategy — and what more would it take for them to buy into it?

THE BIG STORY ABROAD-

Today’s theme in Ukraine is diplomatic damage control as the fighting continues on the ground. The White House is still scrambling to clarify US President Joe Biden’s remarks that Russian President Vladimir Putin “cannot remain in power,” with Secretary of State Antony Blinken insisting that the US is not calling for a regime change in Russia, the Washington Post reports.

Meanwhile, cruise missiles sounded over the Ukrainian city of Lviv, which had so far been spared from the brunt of the war, amid reports that Moscow is shifting its focus to securing Ukraine’s east (where the breakaway Donbas regions are located). Ukrainian President Volodymyr Zelensky reiterated his calls for the West to supply weapons to help it stop Russian advances, stopping short of accusing Western countries of being too scared of Russia to act, Reuters reports.

FOR TOMORROW- The Egypt International Mining Show (EIMS 2022) kicks off tomorrow. The virtual event will wrap on Tuesday.

???? CIRCLE YOUR CALENDAR-

Cyprus Energy Minister Natasa Pilidou is in town this week heading a delegation of Cypriot companies to discuss business ties with ministers and Egyptian firms, according to an official statement. The delegation will be in town from 28-31 March.

Afreximbank and the Angolan Embassy in Egypt are hosting (pdf) an Angola-Egypt investment roundtable on Wednesday at the Hilton Cairo Heliopolis Hotel. Click here to RSVP to join the discussion.

PSA- All individual taxpayers have until this Thursday, 31 March, to submit their 2021 tax returns to the Egyptian Tax Authority. The deadline for companies with January-December fiscal years is 30 April.

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

☀️ TOMORROW’S WEATHER- Tomorrow kicks off the beginning of hot weather here in the capital city, our favorite weather app indicates. Expect a daytime high of 24°C and a nighttime low of 11°C on Monday before temperatures rise to 35°C on Saturday, the first day of Ramadan (25°C in Alex).