We can hear the screams of joy of every public sector worker, ladies and gentlemen, as the Madbouly cabinet announced that all of next week will be a holiday in observance of Eid El Adha. In a statement released right on dispatch, the government announced that state bureaucrats will take off from Saturday, 9 July to Thursday, 14 July.

What about the private sector? We should be hearing from the EGX and central bank in the coming days on what the holiday landscape looks like for the private sector. Now, on to more depressing matters…

THE BIG STORY TODAY- The slide of the EGX continues, with the main index falling 3.6% at today’s close. With a turnover of EGP 639.5 mn (22.5% below the 90-day average), the index is down 27.3% YTD.

Almost everyone is in the red, but today’s worst performers were: Ibnsina Pharma (-15.4%), Credit Agricole Egypt (-10.7%) and MM Group (-10.3%).

HAPPENING NOW- The House of Representatives approved bill to extend the Tax Dispute Resolution Act once again in a plenary session today, as the legislature looks to sprint through its agenda ahead of the start of a potential summer recess tomorrow.

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

• Expedition Investments submits bid for a stake in Domty: Expedition Investments has submitted an official bid to acquire a 34% stake in cheesemaker Domty, offering to purchase up to 96.2 mn shares for EGP 5 a piece in a mandatory tender offer.
• Intercap Capital to set up a USD 30 mn VC fund: Investment banking firm Intercap Capital is working on setting up a USD 30 mn fund for investing in tech startups, with an eye to complete its first USD 10 mn close in early 2023.
• NBFS players are filling a gap in tuition financing: As the banking sector faces rising interest rates and a slump in demand for tuition loans, non-banking financial services players are stepping up their game with more popular alternatives.

FOR TOMORROW-

Public consultations on the state’s privatization plan resume tomorrow with the transport sector taking center stage. Sunday saw the automotive and engineering industry players discuss the state ownership policy document that outlines its privatization plans. Every Sunday and Tuesday sees workshops on how privatization plans will affect specific industries. You can find more details on the schedule of the meetings here.

Our national dialogue kicks off this week, with Diaa Rashwan, the general coordinator of the dialogue, convening the first meeting of the 19-member board of trustees organizing the event tomorrow, according to the State Information Service. Board members include lawmakers, journalists, and political and economic experts. President El Sisi also signaled the beginning of the dialogue in a report picked up by Al Oula (watch, runtime: 2:18).

Need a refresher on the national dialogue? You can read our explainer here.

???? CIRCLE YOUR CALENDAR-

The fuel pricing committee could meet this week to review fuel prices for the third quarter.

Other news triggers to keep an eye on this month:

• PMI: Data measuring activity in Egypt’s non-oil private sector will drop on Wednesday, 6 July.
• Foreign reserves: Foreign reserves figures will be out sometime this week.
• Inflation: Inflation data for June will land on Sunday, 10 July.

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

☀️ TOMORROW’S WEATHER- Expect a daytime high of 39°C tomorrow in Cairo, before the mercury falls to 23°C at night, according to our favorite weather app.