Happy THURSDAY, friends. We’re wrapping up the first full workweek of March with a whole lot of big news stories on the home front, making us all the more grateful that the weekend is just a few short hours away.

THE BIG STORIES TODAY

#1- Are we about to see a fresh batch of temporary listings on the EGX? The bourse is reportedly studying temporary listings for four companies, Asharq Business reports, citing Financial Regulatory Authority (FRA) boss Mohamed Farid, without specifying which companies are under study. The listings would, if executed, bring the total number of companies temporarily listed on the EGX to seven. The FRA had introduced new listing rules back in September that allow companies to “temporarily” list their shares on the EGX for six months as they work to meet listing requirements.

#2- Inflation surged faster than expected in February to hit new five-year highs, on the back of hikes in fuel prices and the continued depreciation of the EGP. Annual urban inflation rose 31.9% y-o-y in the second month of the year, up from 25.8% in January, according to figures from state statistics agency Capmas. This is the highest rate since August 2017 and is up from just 10% in February 2022. The uptick was primarily driven by food prices, which have increased 61.8% y-o-y.

#3- You can now send more money through InstaPay, after the Central Bank of Egypt (CBE) raised the limit for each transaction to EGP 70k, from EGP 50k previously, according to a circular (pdf). The daily transaction limit on the CBE’s national digital payments app will become EGP 120k, up from EGP 60k previously, while monthly transactions will be capped at EGP 400k, rising from EGP 200k. The new limits come into effect next Wednesday, 15 March.

THE BIG STORY ABROAD

The global business press continues to lead this afternoon with JPMorgan’s lawsuit against its former investment banking chief, Jes Staley, who had ties to pedophile financier Jeffrey Epstein. The story is still getting top billing from the Financial Times, the Wall Street Journal, and CNBC.

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

• It’s getting easier (and less expensive) for investors to acquire Egyptian citizenship: In its latest attempt to secure much-needed hard currency, the Madbouly government has come out with an expanded and more generous citizenship-for-FX program that would allow foreigners additional paths to Egyptian citizenship.
• Could the gov’t field offers for up to 20% of TE in the next two weeks? The government reportedly hopes to wrap up a roadshow and receive offers for a 10-20% stake in national telecoms provider Telecom Egypt (TE) before the start of Ramadan.
• Pachin is waiting on more offers before it moves forward with a sale: The shareholders of Paint and Chemical Industries (Pachin) will not consider National Paints Holding’s revised acquisition offer until the two other bidders in the race respond to the latest from the Emirati company.

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???? CIRCLE YOUR CALENDAR-

We have a date for CIFF: The Cairo International Film Festival (CIFF) will kick off at the Cairo Opera House on Wednesday 15 November and run through to Friday 24 November, the festival’s admins said in a statement last week.

Thanaweya Amma exam schedules are out: Thanaweya Amma exams are scheduled to take place between 12 June and 15 July, the Education Ministry said last month.

Egypt is playing host to PPP MENA Forum: The two-day Public-Private Partnership MENA Forum kicks off at the Nile-Ritz Carlton in Cairo on 19 March, bringing together over 300 regional and international PPP players to discuss new partnership models and projects to advance the region’s socio-economic growth. Discussions held under the patronage of Prime Minister Moustafa Madbouly will include policies for infrastructure projects, private funding for national projects, governance, and best practices.

☀️ TOMORROW’S WEATHER- Make some outdoor plans this weekend and soak up the sun: We’re sliding into some beautiful weekend weather, with daytime highs of 28°C both tomorrow and Saturday. The mercury is expected to dip to 13°C tomorrow and 17°C on Saturday, our favorite weather app tells us.