Good morning, friends, and Ramadan kareem. We hope you’re hydrated and caffeinated, and ready for the holy month. We’ll know in a few hours’ time whether Ramadan begins tomorrow or on Sunday, as Dar Al Ifta is expected to hold its traditional moon sighting this evening.

In our Enterprise Guide this week we take a deep dive into the best series set to grace your screens this Ramadan — with a dozen of the month’s 39 titles reviewed, you’ll be set for all your Suhoor series debates.

LAST WEEK IN 3 MINS-

PRIVATIZATION-

All state-owned companies could come under the SFE: The Madbouly government is aiming to transfer the administration of all state-owned companies to the Sovereign Fund of Egypt (SFE) in order to boost their returns, Investment Minister Hassan El Khatib said during his participation in the Investopia 2025 conference in Abu Dhabi Wednesday.

ECONOMY-

#1- Kouchouk laid out the details of the new social protection package: Finance Minister Ahmed Kouchouk shared the details of the government’s long-awaited social protection package of wage and pension hikes and support to Egypt’s most vulnerable following the cabinet’s weekly meeting on Wednesday. The new package included wage hikes, pension increases, cost of living increases for government workers, an EGP 10 bn economic empowerment fund, short-term Ramadan and Eid relief, and support for irregular workers.

#2- Remittances from Egyptians abroad jumped 51.3% y-o-y in 2024, reaching USD 29.6 bn. Inflows from Egyptians abroad increased as they started sending more of their remittances through official channels after the float of the EGP in March last year put an end to the parallel market that had pushed remittance flows through unofficial channels.

INVESTMENT-

#1- Haier to invest USD 500 mn in expanding Tenth of Ramadan complex: Chinese appliance manufacturer Haier plans to inject USD 500 mn over the next five years to expand its industrial complex in Tenth of Ramadan to increase its production capacity 5x. Haier will acquire additional land through the Industrial Development Authority and begin operating the second phase of the complex in 4Q 2026.

#2- Turkey’s Eroglu will set up a USD 120 mn garment factory in Qantara West: Eroglu Garment — a subsidiary of Turkish clothing manufacturer Eroglu Holding — is investing some USD 120 mn in a new integrated garment factory in the Qantara West Industrial Zone.

#3- More golden licenses awarded: Cabinet agreed to award a golden license to China’s state-owned Xinxing for its USD 145 mn ductile iron pipes factory in Ain Sokhna’s TEDA industrial park and Yada Egypt for its EUR 70 mn furnitureplant in New Alamein.

ENERGY-

#1- Local gas production dipped to an eight-year low of 4.87 bn cubic feet per day (bcf/d) in 2024, shedding 16%, or nearly 1 bcf/d, y-o-y, according to the Middle East Economic Survey (MEES), marking the third consecutive year of declines. Meanwhile, separate figures from the Joint Organisations Data Initiative (Jodi) indicated an even lower figure of 4.77 bcf/d.

#2- AMEA to set up 1.5 GWh energy storage in Benban, Zafarana: UAE’s AMEA Power signed an agreement with the Egyptian Electricity Transmission Company to develop two battery energy storage systems (BESS) with a combined capacity of 1.5 GWh. AMEA will set up a 500 MWh storage station in Benban and a 1 GWh facility in Zafarana, along with the necessary transformer stations and grid connections.

AUTOMOTIVE-

Ford shut down local retail operations: US-based automaker Ford Motor Company discontinued new vehicle sales in Egypt, effective 26 February. The company did not specify what prompted the decision, saying only that it comes as part of its efforts to realign its business strategies and that it follows a consideration of market trends.

WHAT’S HAPPENING NEXT WEEK-

Online applications for industrial land open tomorrow, March 1. Investors can submitapplications electronically beginning tomorrow for over 2.1k industrial land plots across 22 governorates via the Egypt Industrial Digital Platform. In response to investor requests, the deadline has been extended by 10 days instead of a week, allowing applicants more time to complete the necessary paperwork — especially given the Ramadan schedule.

CBE’s foreign reserve data lands Monday: On Monday, 3 March, the CBE will release February’s foreign reserve figures, offering insight into the country’s liquidity and financial stability.

PMI figures incoming Tuesday: S&P Global is expected to release Egypt’s PMI figures for February on Tuesday, 4 March.

Cairo hosts emergency talks on Gaza on Tuesday: On Tuesday, 4 March, Egypt will hold an emergency Arab League summit to discuss the latest developments in Gaza.

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-

It was a busy week in Trumpland, with the US president walking back his plan to displaceGaza’s 2 mn citizens amid regional pushback. “I’ll tell you, the way to do it is my plan. I think that’s the plan that really works. But I’m not forcing it. I’m just going to sit back and recommend it,” Trump told Fox News.

Trump also made some more moves on the economy front: The US president confirmed that postponed tariffs on Canada and Mexico “will go forward” when the delay expires this week. He also signed an order to examine tariffs on copper, and said he would introduce a “gold card” visa program that provides a route to US citizenship for the low price of USD 5 mn. Meanwhile, his controversial USD 4.5 tn tax cut plan narrowly passed the House.

He also got Ukraine’s signoff for a minerals agreement: Ukraine agreed to a framework for an economic agreement that will see the US tap its revenues from rare minerals. Trump — who pushed hard for the agreement with personal attacks on his counterpart Volodymyr Zelensky — had earlier hinted the Ukrainian president could arrive in Washington as soon as this weekend to sign the agreement.

Elsewhere in the world, Germany’s parliamentary elections saw the center-right Christian Democrats come out on top, snapping up 29% of the vote, with leader Friedrich Merz promising “independence” from an indifferent United States. The bloc needed one more coalition partner for majority, with far-right Alternative for Germany coming in a close second with 21%, its highest share ever. Investors are watching closely for government negotiations, hoping for a “debt brake” reform soon that will ease restrictions on fiscal spending and spur growth.

Meanwhile, Pope Francis’ declining health caught headlines, after the Vatican confirmed that his condition has worsened, prompting global speculation about the future of his leadership. The 88-year-old pope had been battling a severe respiratory infection, requiring high-flow oxygen and blood transfusions. (Reuters | WSJ | AP | Bloomberg)

☀️ THE WEATHER THIS WEEKEND- This weekend will be a weekend of clear skies and sunny spells in the capital for both Friday and Saturday with mercury set to rise to a high of 20°C. As for the evening on Friday, temperatures will drop back to a chilly low of 13°C and even a chillier low on Saturday evening with 11°C.

HAPPENING THIS WEEKEND-

It’s shopping time. Buy some clothes, accessories, and products from local brands at the Ramadan Edition of Lydia Akram Market. The market will take place today at Egypt’s International Exhibition Center in New Cairo from 11am till 10pm.

Creating hued prints using a timeless photographic process. People of Art is hosting a Ramadan-themed Cyanotype workshop with Youssef Madbouly in New Cairo where participants will learn how to make art with cyanotype. The workshop will take place today from 10am till 2pm.

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