Good afternoon, wonderful people. It’s only Monday, but it’s another day of good news on the business front.

THE BIG STORY TODAY

We have the first project that’s going to be implemented under the industrial partnership between Egypt, the UAE, Jordan, and Bahrain: Emirati fertilizers player CFC Holding will invest USD 400 mn to set up an industrial complex for fertilizers and feed production in Qena, Al Mal cites CFC CEO Ahmed Khalifa as saying. CFC will set up the complex in partnership with Germany’s ThyssenKrupp, with an eye to begin construction next January and bring the plant online at the beginning of 2025.

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

THE BIG STORY ABROAD

The ceasefire in Gaza is getting some play in the international press, particularly after US President Joe Biden backed the agreement. In a statement released after Israel and Palestinian Islamic Jihad (PIJ) agreed to an Egypt-brokered ceasefire, Biden called on the Israeli and Palestenian parties to “fully implement the ceasefire and to ensure fuel and humanitarian supplies are flowing into Gaza as the fighting subsides.” Biden’s calls were heeded, as Gaza’s only power plant began operating again and Israel began to partially reopen crossings into the embargoed strip to allow humanitarian assistance, the Associated Press reports.

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

• We have a new head of the Financial Regulatory Authority (FRA). EGX boss Mohamed Farid has been appointed as acting chairman of the FRA for one year, the exchange announced yesterday.
• Saudi Arabia’s sovereign wealth fund could purchase United Bank from the Central Bank of Egypt before the end of the year, with due diligence close to wrapping.
• Pachin has another potential suitor: EGX-listed Paint and Chemical Industries (Pachin) has received a non-binding offer from Universal Building Materials and Chemicals (Sipes) to acquire up to 100% of its shares.

FOR TOMORROW-

We have two more rounds of public consultations on the government’s state ownership policy coming up this week:

• Higher education players will voice their thoughts on the privatization strategy tomorrow, 9 August.
• Experts and think tanks will hold another round of talks on Thursday, 11 August.

Remember: The government holds workshops every Sunday, Tuesday, and Thursday to see how its plans will affect specific industries. You can find more details on the schedule of the meetings here.

???? CIRCLE YOUR CALENDAR-

Inflation data for July should land on Wednesday, 10 August.

Ghazl El Mahalla IPO: The retail portion of Ghazl El Mahalla’s mini-IPO will wrap next Sunday, 14 August.

MNHD shareholders have the final word on SODIC takeover bid: Madinet Nasr Housing and Development will hold a general assembly meeting on Tuesday, 16 August, to decide whether to allow SODIC to conduct due diligence ahead of a potential takeover.

Interest rates: The Central Bank of Egypt will meet to discuss interest rates next Thursday, 18 August.

National Dialogue: The board of trustees overseeing the National Dialogue will hold its next meeting on 27 August. On the agenda: Choosing the rapporteurs for all of the committees and subcommittees of the social, political and economic tracks, and preparing the agenda and topics of discussion for the dialogue.

☀️ TOMORROW’S WEATHER- We’re set to see a daytime high of 37°C before the mercury drops to 26°C in the evening.