Excellent morning, buddies, and satisfied lengthy weekend. It’s been a hectic week — and now we have the entire round-up underneath. However first, as of late’s factor might or would possibly not have taken on an Odyssey theme completely unintentionally: now we have Christopher Nolan’s The Odyssey on the cinema, Margaret Atwood’s The Penelopiad at the shelf, a information to water actions in Cairo for somebody whose personal epic adventure this weekend doesn’t prolong past the town, and a café in Alexandria for the ones passing thru on easy methods to Sahel. We additionally pay tribute to the past due Hany Shenouda.
However first, your weekly recap…
🗞️ LAST WEEK IN 3 MINS-
FISCAL POLICY-
Egypt has, for the 1st time, put a bunch on how local weather trade may just hit the state’s stability sheet. The rustic’s first-ever Fiscal Chance Commentary on Local weather Trade for FY 2026/27, acquired by way of EnterpriseAM, quantifies how bodily local weather shocks and the worldwide shift to a low-carbon financial system may just hit public price range — from the electrical energy grid to its greatest PPP-backed infrastructure tasks.
Why it issues: The commentary turns local weather menace from an environmental speaking level right into a fiscal line merchandise. It sits within Egypt’s IMF-backed reform program — the Fund singled out the state’s ensure inventory as a fiscal menace in its 29 June commentary — and it units the template for a way the federal government will price range for local weather publicity because it shifts to program-based budgeting by way of FY 2027/28.
ECONOMY-
The CBE issued the first-ever 63-day Treasury notes, price EGP 150 bn, on behalf of the Finance Ministry this week. The go back on those temporary tools floats with the CBE’s hall charge moderately than being fastened at public sale.
REGULATION-
Person individuals’ ins. insurance policies price EGP 10 mn or extra now lift a compulsory credit score take a look at at the applicant, beneath new risk-management requirements from the Monetary Regulatory Authority. The factors additionally require insurers to drag an applicant’s credit score report when their source of revenue, career, premiums, or asked duvet don’t upload up, or the place there’s doubt concerning the legitimacy of the appliance.
AND- An auditor who has labored with an organization for a minimum of 5 years by the point it lists can now stay auditing its books for as much as two extra fiscal years after the providing, in keeping with amendments from the Monetary Regulatory Authority (FRA). Via preserving the auditor who is aware of an organization absolute best thru its checklist, the FRA gets rid of a friction level for corporations weighing a flow.
DEBT WATCH-
The Rising Africa & Asia Infrastructure Fund dedicated a USD 30 mn senior secured company mortgage to Hassan Allam Utilities to assist finance the Minya 1 GW sun and 660 MWh battery-storage machine. One after the other, the Eu Financial institution for Reconstruction and Building is weighing as much as USD 170 mn in senior debt for a similar plant, towards a complete challenge price of USD 764 mn.
AUTOMOTIVE-
Imported automobiles are dealing with stretched-out customs registration and decrease precedence for FX, even ahead of a brand new tariff takes impact. Whilst importers of completed automobiles are dealing with those casual demanding situations, portions and local-content importers are being waved thru. A proper tariff on fully-built automobiles is coming one at a time by way of end-August.
INVESTMENT-
Petrojet and Enppi secured a six-year direction into Petroleum Building Oman’s (PDO) USD 6 bn+ challenge pipeline. The Egyptian consortium used to be decided on as one in every of 4 global contractors and alliances eligible to compete for engineering, procurement, and building paintings beneath a long-term framework with PDO.
TELECOMMUNICATIONS-
Telecom Egypt desires to stay its information middle trade in-house. The EGX-listed telco pulled the plug on its deliberate sale of a majority stake in its Regional Knowledge Middle Hub (RDH) to Helios Funding Companions, the UK-based, Africa-focused PE company. Telecom Egypt cited unmet prerequisites within the time period sheet however gave no additional main points.
The EnterpriseAM Egypt Discussion board is again — and this 12 months, we’re giving the entire day to the only query on each trade chief’s thoughts: What does AI in truth imply to your corporate, your other folks, and your personal task?
Leaders in New York, London, Abu Dhabi, and Singapore are asking the similar issues, and no one has constructed a playbook that works but. We’re all figuring it out in actual time — and for Egypt, the stakes are surprisingly prime.
Egypt may just leapfrog a technology at the again of this era — or watch AI hole out the industries and jobs we will’t find the money for to lose. The leaders who get literate early would be the ones who get to come to a decision which highway we take.
Each and every consultation on level solutions one query: “So, what do I actually do about it?”
Sign up for us on 5 October in Cairo. Seats are restricted, and attendance is by way of invitation most effective.
Request your invitation right here.
🌍 AROUND THE WORLD IN SEVEN DAYS-
This week’s headlines have been ruled by way of essentially the most relentless stretch of the US-Iran battle but — 11 consecutive nights of US moves, US squaddies killed, and oil costs going haywire — along Russia’s greatest missile assault on Kyiv in months, and a brand new UK high minister. Right here’s the rundown.
The battle escalated sharply after an Iranian strike on Jordan killed two US provider individuals — a 3rd used to be showed lifeless by way of Monday — prompting Washington to hold out its 8th, 9th, 10th, and 11th consecutive nights of moves focused on Iran’s coastal surveillance, air defence, and missile infrastructure. Tehran retaliated with waves of drones and missiles at US bases throughout Bahrain, Kuwait, and Jordan, and officially introduced it might now not adhere to the meantime truce. Oil in brief jumped above USD 90/bbl for the 1st time in a month ahead of chickening out after Iran’s international ministry signaled that negotiations may just go back to the desk. On Tuesday, US Protection Secretary Pete Hegseth informed the Senate Appropriations Committee the battle has price USD 37.5 bn to this point — the quantity in itself an undercount.
On a separate regional entrance, Israel pulled again its forces from southern Lebanon as a US-brokered truce took impact — premised on Beirut exerting army authority over Iran-backed Hezbollah. Lebanese President Joseph Aoun met Donald Trump, the 1st summit between the 2 international locations’ leaders in kind of twenty years.
MEANWHILE- Russia introduced one in every of its biggest ballistic missile assaults on Kyiv because the full-scale invasion — greater than 40 missiles and 125 drones focused on the Ukrainian capital, killing a minimum of one and wounding 14. Ukrainian defenses intercepted 108 drones and shot down 18 missiles.
IN LONDON- Andy Burnham used to be officially appointed Britain’s 7th high minister in 10 years, succeeding Labour predecessor Keir Starmer. The previous Manchester mayor pledged to revive steadiness and ship a long-term financial plan later this 12 months.
ALSO- Spain captured the 2026 International Cup name with a 1-0 extra-time victory over Argentina in New Jersey, claiming its second-ever name. Andrew and Tristan Tate have been arrested in Miami by way of US Marshals on fees of rape and human trafficking as the United Kingdom’s Crown Prosecution Carrier pursues extradition.
AND- France banned youngsters beneath 15 from the use of social media, turning into the 1st EU nation to take action. Each chambers of parliament voted in want of the measure.
☀️ THE WEATHER THIS WEEKEND-
It’s a brutal begin to the lengthy weekend in Cairo. Lately, the capital peaks at 42°C, with a low of 26°C in a single day — Alexandria remains cooler at 34°C, with a low of 26°C. Day after today brings fairly of a reprieve to Cairo, with a prime of 37°C and a low of 25°C, in comparison to a prime of 32°C and a low of twenty-two°C up north, consistent with our favourite climate app. Be expecting extra of the similar on Saturday each within the capital and all over the coast.
🎤 HAPPENING THIS WEEKEND-
Standup comic Ahmed Hassan will get his first-ever comedy particular at Teatro 90, presenting The Particular 1 this night at 9:30pm. The display marks his greatest and maximum non-public one up to now — be expecting logo new subject material and the target audience interactions he’s grow to be recognized for. Tickets are to be had on TicketsMarché.
Marwan Pablo and Lege-Cy are taking their unmistakable waft to the North Coast. The rap icons sign up for forces at Porto Golfing in Alamein this night at 9pm to kick off the Porto Golfing Summer season Pageant. Be expecting a night of chart-topping hits, booming beats, and sufficient crowd power to rival the summer time warmth. Tickets are to be had on TicketsMarché.
Cairo Opera Area’s Summer season Pageant for Tune and Making a song is again, and kicking it off is a are living efficiency by way of Ali El Haggar at Alexandria Opera Area’s Sayed Darwish Theater this night at 8:30pm. Enjoy the good singer’s undying hits and unmistakable vocals are living. Tickets are to be had on Tazkarti.
This Sahel season, it’s all about sundown stories — and Ruby is bringing any other one to Amarai Seashore day after today to invite the age-old query: Leih Beydary Keda? The live performance kicks off at 5pm, and you’ll snatch your tickets — with seaside get right of entry to incorporated — on TicketsMarché.
In search of a just right snort whilst in Sahel this weekend? The Goats are touchdown at The Plot at Playa Strip Mall day after today. The stand-up comedians carry their sharp humor, signature crowd paintings, and witty “Sahel tayeb” vs “Sahel sherir” jokes. The display kicks off at 11pm, with tickets to be had on TicketsMarché.
🎤 HAPPENING NEXT WEEKEND-
Sharmoofers are becoming a member of this summer time’s Sahel live performance lineup, appearing for this 12 months’s Localine, going down at Masyaf in Ras El Hekma on Friday, 31 July. The development brings in combination a mixture of native manufacturers, buying groceries, and are living leisure. The live performance kicks off at 8pm — tickets are to be had on TicketsMarché.
The Tiatro Romano competition continues on Friday, 31 July, bringing performances from Reda El Bahrawy, Rahma Mohsen, and Ahmed Sheba at The Roman Theater in Al Alamein’s Marina 2. Be expecting vocal-heavy are living performances and sing-along anthems. The live performance kicks off at 10pm — tickets are to be had on TicketsMarché.
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