Good afternoon, wonderful people, and happy almost-THURSDAY. There are some interesting developments happening here in Omm El Donia that we’re keeping an eye on today as we wait to see how things pan out.

THE BIG STORY TODAY

Central Bank of Egypt Governor Hassan Abdalla is meeting with Trade and Industry Minister Ahmed Samir and senior bankers, marking Abdalla’s first meeting with senior officials since being tapped for the position last week, replacing Tarek Amer.

THE BIG STORY ABROAD

There isn’t any single story topping headlines in the international business press, but many of them are in keeping with a general energy theme. Japan is shifting back to nuclear power amid an energy crunch, with its prime minister saying it could even look at building new nuclear plants, according to the Financial Times. Meanwhile, the UK is well on track to keep its pledge to cut off fuel imports as part of sanctions it imposed against Russia, with the Office of National Statistics saying the UK imported zero Russian fuel in June, Reuters reports. The Wall Street Journal is also taking note of crude oil prices climbing again today on expectations that OPEC+ could move to cut production.

HAPPENING NOW- Cyprus’ Agriculture, Natural Resources, and Environment Minister Costas Kadis is in Cairo for a meeting with Oil Minister Tarek El Molla to discuss preparations for the upcoming COP27 summit in Sharm El Sheikh this November, according to state-run MENA.

Speaking of the run-up to COP27: Climate action goals cannot be decoupled from a holistic development framework that also prioritizes human capital development, including raising living standards and focusing on inclusive economic growth, IMF Executive Director and the UN’s Climate Change High Level Champion said in a roundtable discussion earlier this week (pdf).

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

• Private equity outfit Ezdehar Management has acquired a controlling 60% stake in retail supermarket chain Zahran Market through its Mid-Cap Fund II.
• Remittances hit a record high for the second year running in FY 2021-2022, rising 1.6% y-o-y to USD 31.9 bn.
• Egypt-born adtech startup ArabyAds secured USD 30 mn in a pre-Series B round from pan-African investment platform AfricInvest.

???? CIRCLE YOUR CALENDAR-

PSA #1- Climate tech entrepreneurs have one month to apply to the global ClimaTech Run competition: Tech startups that address climate and environmental issues have until 22 September to apply for the competition, which offers startups a top award of USD 100k and the chance to present their product at COP27, according to a cabinet statement. The competition is hosted by USAID-backed Business Egypt and backed by the international cooperation, environment and communication ministries.

PSA #2- Your deadline to catch a 65% break off late payment fines for your taxes is coming up next Wednesday, 31 August. The waiver applies to late payment fees for customs tariffs, income, real estate, and sales taxes, VAT, and stamp duties among others. The remaining 35% of your due payments will need to be paid before next March.

☀️ TOMORROW’S WEATHER- Expect a daytime high of 39°C tomorrow and a nighttime low of 24°C, according to our favorite weather app.