It’s two more working days until the weekend, ladies and gentlemen, and boy are we smiling at this next nugget…

Get your banking needs taken care of by Thursday: The private sector workers will be off on 9-14 July for Eid Al Adha, the Manpower Ministry announced in a statement. This follows an announcement (pdf) earlier in the day from the central bank that banks will be off during the same period. Banks will open for business on Sunday 17 July. Public sector workers were given off on 9-14 July yesterday.

And while we’re on banks, we’re welcoming a new EGP 10 polymer banknotes, which were released by the CBE today. Apart from the neat design, the new banknotes (which you can see above) are more durable, robust and resistant to damage from dirt and moisture. More importantly, the bills are cheaper to make, a statement (pdf) by the CBE read.

You can get your hands on the news notes through your local bank. The old paper banknotes, however, are still valid and available, the statement said.

THE BIG STORY TODAY- Blast from the past: SODIC wants MNHD (again). Leading real estate developer SODIC has submitted a non-binding offer to acquire up to 100% of EGX-listed Madinet Nasr Housing and Development (MNHD) in a potential all-cash acquisition, the developer said in a disclosure to the EGX (pdf). SODIC offered to acquire the developer through a mandatory tender offer at a price range of EGP 3.2-3.4, a 32% premium on its share price at yesterday’s close. The mid-point of the range of EGP 3.30 values the company at EGP 6.18 bn.

The transaction has done wonders for their respective share prices: MNHD was the EGX30’s top performer today as its shares rose 8% to EGP 2.7 on the news. Meanwhile, SODIC’s shares rose 0.82% to EGP 11.10.

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

HAPPENING NOW- President Abdelfattah El Sisi has ratified the FY2022-2023 budget, after the House of Representatives gave it the stamp of approval earlier this month, state news agency MENA reports. The FY2022-2023’s final spending plan is unchanged from the one Finance Minister Mohamed Maait and Planning Minister Hala El Said presented to the House in May, despite MPs raising concerns about borrowing plans, social safety net allocations, and the government’s forecasted wheat and oil prices.

ALSO- Public consultations on the state’s privatization plans for the transportation sector began today. Every Sunday and Tuesday see workshops discussing the state ownership policy document and how privatization plans will affect specific industries. You can find more details on the schedule of the meetings here.

Meanwhile, the national dialogue kicked off today, with the 19-member board of trustees running the process convening its first meeting, according to Ahram Gate. Board members include lawmakers, journalists, and political and economic experts.

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

THE BIG STORY ABROAD- Highland Park Independence Day Parade shooting suspect in custody: Law enforcement arrested a 22-year-old-man as a suspect in a deadly shooting on an Independence Day parade in the Chicago suburb of Highland Park that saw at least six killed and over 36 wounded, BBC reports. Police apprehended the suspect, Robert E. Crimo III, yesterday in nearby Lake Forest after a brief chase.

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

• Gov’t beats FY2021-2022 budget deficit target: The budget deficit narrowed to 6.1% of GDP in FY2021-2022 from 7.4% the year before, coming in significantly below the 6.7% target in the state budget.
• GASC in talks to purchase wheat directly from suppliers: GASC is looking to purchase wheat directly from commodity traders outside the normal tender process, and is inviting offers from trading houses for an undisclosed amount of wheat for shipment in September and October.
• Is climate change threatening our honey industry? Honey production is on the decline as changes in temperature — among other climate change woes — begin to affect honey bee activity.

FOR TOMORROW-

The House goes on its summer recess tomorrow, with the legislature scrambling to get as many bills approved as possible today. The House gave a final approval to government-drafted amendments to the Consumer Finance Act aimed at providing greater fraud protections to consumers.

Anti-money Laundering Act given the nod: The House also gave final approval to government-drafted amendments to the 20-year old Anti-money Laundering Act. The changes would create an anti-money laundering unit at the central bank, handing it greater powers to investigate money laundering and terrorism financing. We’ll have more ont he day’s happenings in tomorrow’s EnterpriseAM.

???? 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 tomorrow, Wednesday, 6 July.
• Foreign reserves: Foreign reserves figures will be out sometime this week.
• Inflation: Inflation data for June will likely land as early as this week.

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 temperatures to rise to 39°C during the day tomorrow before falling to 23C at night, our favorite weather app tells us.