Just right morning, pals, and satisfied lengthy weekend. It’s been a hectic week — and we’ve got the whole round-up beneath. However first, nowadays’s factor might or would possibly not have taken on an Odyssey theme solely unintentionally: we’ve got Christopher Nolan’s The Odyssey on the cinema, Margaret Atwood’s The Penelopiad at the shelf, a information to water actions in Cairo for any person whose personal epic adventure this weekend doesn’t lengthen past town, and a café in Alexandria for the ones passing via on easy methods to Sahel. We additionally pay tribute to the overdue Hany Shenouda.
However first, your weekly recap…
🗞️ LAST WEEK IN 3 MINS-
FISCAL POLICY-
Egypt has, for the 1st time, put a host on how local weather alternate may just hit the state’s steadiness sheet. The rustic’s first-ever Fiscal Possibility Commentary on Local weather Alternate 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 funds — from the electrical energy grid to its largest PPP-backed infrastructure initiatives.
Why it issues: The remark turns local weather menace from an environmental speaking level right into a fiscal line merchandise. It sits inside of Egypt’s IMF-backed reform program — the Fund singled out the state’s ensure inventory as a fiscal menace in its 29 June remark — and it units the template for the 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 somewhat than being mounted 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, below new risk-management requirements from the Monetary Regulatory Authority. The criteria additionally require insurers to drag an applicant’s credit score document when their source of revenue, career, premiums, or asked quilt don’t upload up, or the place there’s doubt in regards to the legitimacy of the applying.
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 step with amendments from the Monetary Regulatory Authority (FRA). By means of conserving the auditor who is aware of an organization very best via its checklist, the FRA eliminates a friction level for companies weighing a drift.
DEBT WATCH-
The Rising Africa & Asia Infrastructure Fund dedicated a USD 30 mn senior secured company mortgage to Hassan Allam Utilities to lend a hand finance the Minya 1 GW sun and 660 MWh battery-storage machine. One at a time, the Eu Financial institution for Reconstruction and Construction is weighing as much as USD 170 mn in senior debt for a similar plant, in opposition to a complete challenge price of USD 764 mn.
AUTOMOTIVE-
Imported vehicles are going through stretched-out customs registration and decrease precedence for FX, even ahead of a brand new tariff takes impact. Whilst importers of completed vehicles are going through those casual demanding situations, portions and local-content importers are being waved via. A proper tariff on fully-built vehicles is coming one by one by way of end-August.
INVESTMENT-
Petrojet and Enppi secured a six-year course into Petroleum Construction Oman’s (PDO) USD 6 bn+ challenge pipeline. The Egyptian consortium was once decided on as one among 4 world contractors and alliances eligible to compete for engineering, procurement, and development paintings below a long-term framework with PDO.
TELECOMMUNICATIONS-
Telecom Egypt desires to stay its knowledge middle industry in-house. The EGX-listed telco pulled the plug on its deliberate sale of a majority stake in its Regional Knowledge Heart 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 whole day to the only query on each industry chief’s thoughts: What does AI in reality imply in your corporate, your folks, and your individual 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 strangely prime.
Egypt may just leapfrog a era at the again of this generation — or watch AI hole out the industries and jobs we will’t have the funds 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 handiest.
Request your invitation right here.
🌍 AROUND THE WORLD IN SEVEN DAYS-
This week’s headlines had been ruled by way of probably the most relentless stretch of the US-Iran warfare but — 11 consecutive nights of US moves, US squaddies killed, and oil costs going haywire — along Russia’s largest missile assault on Kyiv in months, and a brand new UK high minister. Right here’s the rundown.
The warfare escalated sharply after an Iranian strike on Jordan killed two US provider participants — a 3rd was once showed useless 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 not adhere to the meantime truce. Oil in short jumped above USD 90/bbl for the 1st time in a month ahead of backing out after Iran’s international ministry signaled that negotiations may just go back to the desk. On Tuesday, US Protection Secretary Pete Hegseth instructed the Senate Appropriations Committee the warfare has price USD 37.5 bn up to now — 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 more or less twenty years.
MEANWHILE- Russia introduced one among its greatest ballistic missile assaults on Kyiv for the reason that 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 was once officially appointed Britain’s 7th high minister in 10 years, succeeding Labour predecessor Keir Starmer. The previous Manchester mayor pledged to revive balance and ship a long-term financial plan later this 12 months.
ALSO- Spain captured the 2026 Global Cup name with a 1-0 extra-time victory over Argentina in New Jersey, claiming its second-ever name. Andrew and Tristan Tate had 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 kids below 15 from the usage of social media, turning into the 1st EU nation to take action. Each chambers of parliament voted in desire 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 rather 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, in keeping 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 largest and maximum non-public one thus far — be expecting emblem new subject material and the target audience interactions he’s turn out to be recognized for. Tickets are to be had on TicketsMarché.
Marwan Pablo and Lege-Cy are taking their unmistakable drift 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 Competition. 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 Space’s Summer season Competition for Track and Making a song is again, and kicking it off is a reside efficiency by way of Ali El Haggar at Alexandria Opera Space’s Sayed Darwish Theater this night at 8:30pm. Revel in the nice singer’s undying hits and unmistakable vocals reside. Tickets are to be had on Tazkarti.
This Sahel season, it’s all about sundown studies — and Ruby is bringing every other one to Amarai Seaside day after today to invite the age-old query: Leih Beydary Keda? The live performance kicks off at 5pm, and you’ll be able to grasp your tickets — with seaside get right of entry to incorporated — on TicketsMarché.
Searching for a excellent snort whilst in Sahel this weekend? The Goats are touchdown at The Plot at Playa Strip Mall day after today. The stand-up comedians deliver 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, acting 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 reside leisure. The live performance kicks off at 8pm — tickets are to be had on TicketsMarché.
The Tiatro Romano pageant 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 reside performances and sing-along anthems. The live performance kicks off at 10pm — tickets are to be had on TicketsMarché.
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