Happy hump day, friends. It’s a relatively busy news day here on the home front, with that M&A boomlet we signposted this morning still keeping up pace.

PSA- We’re not getting (yet another) long weekend: Saturday will be a national holiday in observance of the 23 July Revolution, a statement by the Cabinet read. Both the public and private sector will be off, the statement said. Saturday is typically already a day off for many private sector workers, but the government will not push up the revolution observance day to Thursday, as is sometimes the case.

THE BIG STORIES TODAY

Is SODIC’s bid to acquire MNHD’s hitting a dead end? SODIC said it will not revise the price it offered to acquire up to 100% of Madinet Nasr Housing and Development (MNHD) without conducting due diligence on the company in a disclosure to the EGX (pdf). This comes a few days after MNHD’s board of directors said the price was too low as it stands, and recommended that the general assembly reject SODIC’s request for due diligence during its scheduled meeting on 16 August unless SODIC bumps its offer price in a new bid.

One step closer to Chimera’s acquisition of Beltone: Chimera Investments’ bid to acquire up to 90% of Beltone Financial is poised to go through after getting the the Financial Regulatory Authority’s (FRA) stamp of approval in a disclosure to the EGX (pdf) yesterday.

THE BIG STORY ABROAD

The international business press is largely preoccupied this afternoon with the possibility of Europe waving goodbye to its era of negative rates following the European Central Bank’s monetary policy meeting this Thursday. The policy committee is expected to discuss potentially raising rates by 50 bps in a bid to tamp down soaring inflation and debt costs, while the eurozone also faces a stronger USD that has now reached parity with the EUR. The story is getting play in the Financial Times and Reuters, among others.

HAPPENING NOW-

The state’s national dialogue meetings resume: The board overseeing the Sisi administration’s national dialogue is holding its second meeting to set a schedule of debate, discuss the agenda, and form subcommittees.

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

The government’s public consultations on its state ownership policy are also continuing today with representatives from the wholesale and retail sectors having their say. Sunday’s session brought leather manufacturers together to discuss the state’s privatization plans. Every Sunday, Tuesday and Thursday sees workshops on how privatization plans will affect specific industries. You can find more details on the schedule of the meetings here.

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

• Infinity + AFC just sealed Africa’s largest-ever renewables acquisition: Our friends at renewables player Infinity Group and Africa Finance Corporation (AFC) have signed an agreement to acquire 100% of Lekela Power in what is Africa’s largest renewables acquisition.
• Banque du Caire’s IPO may have been kicked down the road once more: State-owned Banque du Caire is postponing its long-awaited IPO due to unfavorable market conditions.
• SDX shareholder to block planned merger with Tenaz: A planned merger between UK-based, Egypt-focused SDX Energy with Canadian firm Tenaz Energy has been thrown into doubt after a group of shareholders said they would vote to block the transaction.

???? CIRCLE YOUR CALENDAR-

IDG to host cultural festival with sustainable waste in focus at Alamein: Our friends at Industrial Development Group (IDG) are hosting a cultural festival at their eco-sustainable industrial park, e2 Alamein, on the North Coast, according to a statement (pdf). The “Locale” festival, which IDG is hosting in partnership with Art d’Egypte, will include showcase nine art installations made with recycled materials to raise “awareness around waste management and

encouraging waste prevention, reuse, and recycling behavior.” The event launches this Thursday, 21 July, and runs through the summer.

Calling tech startups: Universities of Canada in Egypt-based incubator DMZ Cairo has opened applications for its second eight-month incubation program for tech startups, which begins in November, according to a statement (pdf). The incubator — which is backed by the Academy of Scientific Research and Technology and the National Technological Incubators Program — is accepting applications for the cycle until 29 September.

☀️ TOMORROW’S WEATHER- The mercury is set to rise (although not significantly) tomorrow, reaching a high of 38°C before cooling to a low of 25°C in the evening.