Good morning all you wonderful people, and welcome to another chilly winter weekend.

Gone are the days when travel meant choosing between a handful of cookie-cutter hotel chains or taking your chances with random vacation rentals. Today’s savvy travelers are discovering that where you stay can be more than a place to rest your head. This week’s guide will introduce you to a new world of accommodation options that cater to your specific interests and travel style, transforming your travels from standardized experiences into bespoke stays.

LAST WEEK IN 3 MINS-

ECONOMY-

#1- Egypt’s non-oil private activity expanded at its highest rate in over four years in January, buoyed by a solid increase in output and sales volumes, according to S&P Global’s latest Purchasing Managers’ Index report. The headline reading rose to 50.7 from 48.1 in December, marking the second time the country's non-oil activity has hit the expansion territory since November 2020.

#2- Net foreign reserves inched up to USD 47.3 bn at the end of January 2025, marking a USD 156 mn increase from December, according to data from the Central Bank of Egypt. Net foreign reserves continued to increase month-on-month for the 29th consecutive month.

BANKING-

Net foreign assets in Egypt’s banking sector dropped to USD 5.23 bn in December, down from USD 5.96 bn in November, marking a monthly decline of 12.2%. The decline was driven by a widening deficit in the net foreign assets of commercial banks, which widened to USD 6.4 bn in December, compared to USD 5.8 bn in November.

CAPITAL MARKETS-

#1- Officials considering alternatives to a capital gains tax on EGX transactions: It looks increasingly likely that the long-awaited capital gains tax on EGX transactions may never come, a government source told EnterpriseAM. In its place, officials are now considering reinstating a 0.15% stamp tax on all EGX transactions as a simpler alternative to the capital gains tax, which has continued to be unenforced due to the absence of executive regulations.

EDUCATION-

Egypt responds to Trump’s USAID funding freeze: The Egyptian government has stepped up to support USAID scholarship students following Trump’s foreign aid freeze last week.

HOSPITALITY-

The luxury Autograph Collection Hotel to take over Mogamma: Cairo House Egypt inkedan agreement with Tourism Investment and Marriott International to turn the Mogamma building into an Autograph Collection Hotel.

MANUFACTURING-

Elsewedy Electric launched the Middle East’s largest telecom cables factory: EGX-listed manufacturer Elsewedy Electric opened a EGP 2 bn cable factory at its subsidiary Elsewedy Industrial Development’s Industrial zone in the Tenth of Ramadan, a move which further cements the country’s efforts to localize its telecommunications components. The 70k sqm factory stands as the largest of its kind in the region.

PHARMA-

Eva Pharma to produce mRNA vaccines: Eva Pharma signed an MoU with France’s DNA Script and Belgian Quantoom Biosciences to secure the transfer of critical technology necessary to manufacture mRNA vaccine, making Egypt the first Arab or African country slated to produce mRNA vaccines.

WHAT’S HAPPENING NEXT WEEK-

#1- Inflation data incoming: Capmas and the Central Bank of Egypt are expected to publish inflation data for January early on Monday, 10 February.

#2- We’ll officially know the ins and outs of the new social protection package “within days,” Prime Minister Moustafa Madbouly said during his weekly presser on Wednesday.

#3- We should learn the fate of the planned capital gains tax on EGX transactions next week: The House is expected to introduce a draft law scrapping the capital gains tax on EGX transactions and reinstating a stamp tax, with deputy chairman of the House of Representatives’ budget committee Yasser Omar telling Al Mal on Tuesday that the draft law was expected “within days.”

Check out our full calendar on the web for a comprehensive listing of upcoming news events, national holidays and news triggers.

AROUND THE WORLD IN SEVEN DAYS-

Newly inaugurated US president Donald Trump did not take a break from penning executive orders this week, with the president kicking things off by ordering 25% tariffs on Canadian and Mexican imports and 10% tariffs on Chinese goods, sending financial markets into a tailspin. However, North American leaders managed to reach last-minute agreements with Trump, postponing tariffs on Canada and Mexico for 30 days, pending negotiations. Meanwhile, China retaliated by imposing tariffs on select US-made items and calling for a probe into Google.

President Abdel Fattah El Sisi also spoke over thephone with US President Donald Trump Saturday, during which the two discussed the “critical importance of advancing the implementation of the first and second phases of the ceasefire agreement,” according to an Ittihadiya statement.

But just when we thought we’d seen the week’s biggest development — Trump unveiled plans to ethnically cleanse and redevelop Gaza under possible US occupation. During a joint presser with Israeli PM Benjamin Netanyahu, Trump proposed that the US take over, develop, and own the Gaza Strip as part of a broader plan to turn it into “the Riviera of the Middle East.” Trump’s statements initially indicated that the enclave's Palestinian residents were to be permanently displaced from the strip, though subsequent statements from US officials suggested that such displacement might be temporary. The proposal drew immediate condemnation from across the Arab region and from key international allies of the US, with Egypt, Jordan,Saudi Arabia, Germany, and France among the countries rejecting the proposal.

Despite the US administration’s slight backtracking, Israeli officials doubled down on Trump’s plan Thursday, with Israeli defense minister Israel Katz ordering occupation forces to prepare for what Israeli officials termed the “voluntary departure” of Gaza’s residents. This move drew quick condemnation, with the Egyptian foreign ministry saying that the Israeli statements “constitute a flagrant violation of international law and the rights of Palestinians” in a statement, adding that the Egyptian government “completely rejects any proposal that aims to liquidate the Palestinian cause by uprooting the Palestinian people or displacing them from their historical land, whether temporarily or permanently.”

☀️ THE WEATHER THIS WEEKEND- It’s a cloudy weekend with temperatures similar to the ones we saw this week. We’re expecting a high of 17°C today in the capital, with a low of 11°C tonight. The mercury will warm up slightly on Saturday to reach 19°C, with a low of 10°C.

HAPPENING THIS WEEKEND-

The Egypt International Boat Show continues: Over 40 leading companies and more than 120 brands are gathered at the Cairo International Convention Centre (CICC) for the 7th edition of Egypt International Boat Show, which will continue until Sunday, February 9.

TechShift Summit opens on Saturday: The Greek Campus (Downtown) will open its doors to host the TechShift Summit 2025 tomorrow, 8 February, bringing together investors and entrepreneurs for a full day of activities.

Rave with your ancestors this weekend. DHB at the Pyramids kicks off this tonight at 6pm, and will feature an array of electronic, house, and techno music. Grab your tickets from Ticketsmarche.

Folklore is making a comeback. Tablet El Sitt is back at The Theatre tonight from 8pm. Tickets are available on Ticketsmarche.

Start off the first week of the month with a mix of UK tunes and Arabic classics. At CJC 610 tonight, international DJ Saliah and local favorites Hwa Fi Eh and Lana will be performing at CJC 610. Get your tickets at Ticketsmarche.

This one is for the sports fans. The Football Access Summit will feature talks, panels, and presentations from sports industry leaders — giving the fans insider access. The summit will take place today and tomorrow at ZED Park. Tickets are available on Ticketsmarche.

Palestinian artist Saint Levant to host hispre-release album listening party at Rec Room in Maadi tomorrow. The event will include a DJ set by Saint Levant and performances from Nihal and Egyptian rapper Xander Ghost.

As the saying goes, old is gold — so shop vintage. Head to Cairo Vintage Souq and pick up some clothes, accessories, or home decor antiques. The bazaar will take place tomorrow at Al Zohriya Garden in Zamalek.

Diverse galleries and a dynamic fair program. Experience the artistic talents of the MENA region at the 6th edition of Art Cairo. The exhibition will be held at the Grand Egyptian Museum from tomorrow till Tuesday, 11 February. Tickets are available on CollardTickets.

HAPPENING NEXT WEEKEND-

Craving a taste of Asia? The Thai Food Bazaar will have top Thai chefs preparing their signature dishes live — so you can watch, savor, and maybe even steal a secret or two. The event will take place at Al Horreya Park in Zamalek for four days, starting on Thursday, 13 February till Sunday, 16 February, with the event set to run from 12pm to 8pm each day.

Fancy a Valentine’s Day serenade? Grab someone you love and get serenaded by Medhat Saleh at Theatro Arkan on Friday, 14 February, at his Hob x Hob concert. Get your tickets at Ticketsmarche.

Cairo Runners is once again hosting its iconic annual marathon, this time on the day of love. On Friday, 14 February, pick between a 21km, 10km, or 5km race, or even a short family run. Register your interest on Cairo Runners.

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