One more working day left until the Eid break, ladies and gentlemen. We can imagine how productivity is going to look like tomorrow.

Late to the party, but always welcome: The EGX (pdf) joined the central bank (pdf) and the Manpower Ministry in a week-long observance of Eid Al Adha. Private and private sector workers are taking the week off from Sunday 10 July to Thursday 14 July. This follows the cabinet, which said on Monday that the public sector will take the full week off.

The House of Representatives beat all of us to the break, but to their credit, they still held on after schools closed (thank God for small miracles). MPs spent yesterday scrambling to get as many bills approved as possible before heading for their annual two-month break in Sahel. Check out our summary of yesterday's session here.

THE BIG STORY TODAY-

Activity in Egypt’s non-oil private sector saw its biggest slump in two years in June, falling further into negative territory as supply-side pressures increased along with rising inflation and the impacts of the devalued EGP, according to the S&P Global purchasing managers’ index (pdf). Business activity contracted at its fastest pace since the first wave of the covid-19 pandemic, with the index falling to 45.2, down from 47.0 in May.

THE BIG STORY ABROAD-

Game over for Boris Johnson? Key ministers have resigned from the British government, saying that Prime Minister Boris Johnson is not fit to govern. The move comes amid calls by a growing number of lawmakers calling for him to step down. John Glen, the city minister and economic secretary to the Treasury, was the most recent minister to resign, writing that he can “no longer reconcile my commitment to the role . . . with the complete lack of confidence I have in your continuing leadership of our country.” Glen’s decision is another blow to Johnson after finance minister Rishi Sunak and health minister Sajid Javid sent resignation letters within minutes of each other last night.

Johnson remains defiant: The PM appears determined to stay in office and immediately appointed education minister Nadhim Zahawi as his new finance minister, and continued to fill in other vacant roles. Foreign minister Liz Truss, who is widely considered a main contender to replace Johnson as the Tory leader, asserted that she was "100% behind the PM".

The story is leading coverage in the international press, including in Reuters | Financial Times | Wall Street Journal | France 24 | DW | CNN

IN OTHER GLOBAL NEWS- Outgoing OPEC’s Secretary General Mohammad Barkindo passed away at 63, Reuters reports.

HAPPENING NOW- President Abdel Fattah El Sisi has officially launched the “Digital Egypt Platform” during the inauguration of several telecom and digital infrastructure projects, including the submarine cable landing stations along with the Telecom Egypt Regional Data Hub, according to an Ittihadiya statement. The platform, which has received EGP 10 bn in investments so far, offers online services like e-payment, car license renewals, and booking appointments for civil services, CIT Minister Amr Talaat said, state news agency MENA reported. All you need to register for the platform is your national ID and a cell phone number.

Happening tomorrow (maybe): The fuel pricing committee could meet today or tomorrow to review fuel prices for the third quarter.

^^We’ll have more on these stories and others in tomorrow’s EnterpriseAM.

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

• SODIC makes a play for MNHD: SODIC submitted a non-binding offer to acquire up to 100% of state-owned developer Madinet Nasr Housing and Development in a potential all-cash transaction that could value the company at as much as EGP 6.36 bn.
• Economic growth accelerates in FY2021-2022: The Egyptian economy grew at a 6.2% clip in FY2021-2022, up from 3.3% the previous year.
• Another big wheat buy: Egypt purchased 444k tons of Russian, French and Romanian wheat directly from traders yesterday, sidestepping its usual method of purchasing wheat through international tenders.

???? CIRCLE YOUR CALENDAR-

Egypt and the UAE will sign an agreement to establish 10 GW in wind projects following the Eid Al Adha holiday, the Madbouly cabinet said yesterday. The statement offered little information on the project but said that the details have already been worked out and a formal agreement will be signed after the break.

Public consultations on the state ownership policy document that outlines its privatization plans will resume on Sunday, 17 July, with air transport industry players taking center stage. 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.

National Dialogue meetings to resume 19 July: The board overseeing the National Dialogue will hold its second meeting on 19 July, during which it will discuss the agenda and form subcommittees. Board members met for the first time yesterday.

Need a refresher on the national dialogue? We’ve got you covered.

Other news triggers to keep an eye on this month:

• 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 a daytime high of 38°C tomorrow in Cairo, before the mercury falls to 23°C at night, our favorite weather app tells us.