Happy hump day, friends. It’s by no means a slow news day here in Omm El Donia, with a handful of interesting stories happening on the home front.

THE BIG STORIES TODAY

The government wants to remove barriers to industrial development within a month or two, President Abdel Fattah El Sisi said today during the inauguration of several national projects linked to the General Authority for Investment and Freezones (watch, runtime 8:37). The state is looking to address and resolve issues that stand in the way of investors so that administrative procedures are fast and efficient for investors and industrialists who are looking to enter the Egyptian market, he added.

Wataniya + Safi hitting the EGX before the year is out? The Sovereign Fund of Egypt is looking to take military-owned filling station Wataniya and bottled water maker Safi public on the EGX by the end of the year, according to a cabinet statement. The two National Service Products Organization companies are currently being restructured ahead of their IPO.

THE BIG STORY ABROAD

A couple of stories are vying for attention in the international business press this afternoon:

#1- Three gas leaks from the Russian-owned Nord Stream 1 and 2 pipelines were discovered in Swedish and Danish waters, raising concerns about further Russian supply shortages. The company said in a statement it was “investigating” the reason behind the pressure drop that caused the leaks, while European countries are looking into potential sabotage. “The incident is not expected to have consequences for the security of Danish gas supply,” the Danish energy ministry said in a statement. The Nord Stream 2 pipeline is pumped full of gas despite its operations getting halted due to Russia’s invasion of Ukraine, while the Nord Stream 1 pipeline has been out of service for weeks for maintenance work. (Financial Times | CNBC | Bloomberg | Reuters)

European natural gas futures shot up 6.4% in trading early this morning on the news, after dropping to a two-month low earlier this week, Bloomberg reported.

#2- Japan held a state funeral for former Prime Minister Shinzo, provoking angry demonstrations in Tokyo over his legacy of close ties with the ultra conservative Unification Church. Abe was assassinated in July at a political campaign event. (Reuters | the Associated Press | The New York Times | the Guardian | The Wall Street Journal)

HAPPENING NOW-

Our friends at HSBC are hosting an energy transition webinar series today through Thursday (27-29 September). The series will look at the “latest climate analysis in relation to the global energy market and transition to net zero” in six different sessions covering energy security, what is required to ensure the success of COP27, financing and investment needs for the energy transition, and the scaling up of renewables in the region, among other topics. You can register for the series here.

A Spanish business delegation is in town today and tomorrow for the Egypt-Spain Multilateral Partnership Forum, organized by the Spanish Institute for Export and Investment, according to a press release (pdf). The two-day conference will include seminars and panel discussions on trade and investment in transport, energy, and water with Egyptian ministers and representatives from government bodies, alongside officials from international financing institutions and Spanish Secretary of State for Trade Xiana Méndez Bértolo. The agenda for the conference is available here (pdf).

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

• EFG Hermes and GB Capital have rebranded life ins. company Tokio Marine Egypt Family Takaful as Kaf following their acquisition of a majority stake in 2020.
• Elsewedy Electric has secured EGP 2 bn in Islamic financing from a banking consortium led by Abu Dhabi Islamic Bank.
• Pickalbatros Hotels will open three new hotels in Hurghada and Marsa Alam by next February.

???? CIRCLE YOUR CALENDAR-

The Arab Pensions and Social Ins. Conference kicks off tomorrow in Sharm El Sheikh, bringing together pension and investment leaders to exchange expertise and experiences on reforming and developing pension systems in the Arab region, according to a cabinet statement. Finance Minister Mohamed Maait will be attending the two-day gathering.

The UN World Food Program and the International Cooperation Ministry are hosting a two-day conference on food security at the St. Regis Cairo Hotel on Wednesday and Thursday, according to a press release (pdf). The conference will mainly focus on the digitization of the agricultural sector, financial inclusion and social protection.

Women entrepreneurs: Are you looking for funding? The Facility Investing for Employment is looking to write co-financing tickets in the EUR 1-10 mn range for new projects at businesses that “contribute to sustainable job creation.” Its focus is on women entrepreneurs and women-led businesses, according to a press release (pdf). Entrants can apply starting 14 November.

☀️ TOMORROW’S WEATHER- Expect a daytime high of 38°C tomorrow and a nighttime low of 25°C, according to our favorite weather app.