It’s really almost-THURSDAY now, friends — the weekend is so close, we can almost smell it. This afternoon’s news flow hasn’t quite taken shape yet, but we anticipate more stories to crop up over the course of the day.

THE BIG STORY TODAY-

Household electricity bills will be up as much as 20.8% by 1 July: Residential electricity bills are rising at the start of the new fiscal year on 1 July as part of the Sisi administration’s plan to phase out electrical subsidies by 2025, Youm7 reports, citing sources from the ministry.

^^We’ll have more details on this and other stories in tomorrow’s edition of EnterpriseAM.

THE BIG STORY ABROAD-

Once again, there isn’t one story driving the conversation in the international press this afternoon. Among the headlines and updates getting front-page treatment:

• Turkey-Russia talks on unlocking Ukrainian grain shipments ended today on an inconclusive note, with Turkey saying more talks are needed with Moscow and Kyiv to ensure ships’ safety. (Reuters)
• Big Tech stocks are seeing a downturn that is reminiscent of the dot-com bubble’s collapse in 2000, with the S&P 500’s information-technology sector down 19% YTD. (WSJ)
• European markets are down on expectations that the European Central Bank will raise interest rates when it meets tomorrow. (FT)

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

• The World Bank has again revised upwards its projection for Egypt’s GDP growth by 0.6 percentage points to 6.1% for FY 2021-2022.
• EFG Hermes’ energy investment platform Vortex Energy has so far invested EUR 222 mn of equity capital into Ignis Energia, with plans to eventually invest EUR 625 mn in Ignis under an agreement signed with the Spanish solar developer in October.
• Qatari companies have an appetite for Egyptian investments: A number of Qatari companies have expressed interest in investing in Egypt during meetings with GAFI head Mohamed Abdel Wahab, who is on a multi-day visit to Doha to pitch Egypt as an attractive investment destination

FOR TOMORROW-

The Digital Transformation Summit gets underway tomorrow, bringing together public and private sector players in the tech industries to share and discuss views on the current landscape of the market, recent tech innovations, and proposed strategies.

???? CIRCLE YOUR CALENDAR-

NEWS TRIGGERS you’ll want to keep an eye on:

• Inflation figures for May are due out on Saturday, 9 June (from state statistics agency Capmas) and Sunday, 12 June (central bank figures);
• The Central Bank of Egypt holds its policy meeting on Thursday, 23 June.

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

☀️ TOMORROW’S WEATHER- It’s that time of year when the weather forecast makes us want to cry (or plan a pool day): Get ready for the real Egyptian summer heat that’s coming in full force this week. The mercury will reach 42°C during the day tomorrow before falling to 24°C at night, our favorite weather app tells us. Temperatures will reach 44°C on Saturday before cooling down again next workweek.