Good afternoon, friends, and congratulations on another week successfully completed. We’re winding down for the weekend, but the headlines are heating up. This issue is packed with news of Kuwaiti investments in Egypt, the relationship between wealth and wellbeing, and decision fatigue in our age of overwhelming options.

But don’t let that distract you from what’s important. Happy Mother’s Day to all the moms out there — honorary and otherwise.

THE BIG STORY TODAY

Kuwait is planning a significant boost to its investments here: Kuwait is set to ramp up its investments in Egypt by 20% to USD 5.3 bn this year, with the Gulf nation planning to funnel a total of over USD 10 bn into a number of local sectors over the coming years, Asharq Business reports, citing two anonymous government sources.

Where’s the money going? Sectors targeted by the anticipated Kuwaiti investments include pharma, food security, tourism, agriculture, automotive manufacturing, banking, renewable energy, public transportation, and green hydrogen. A portion of the investments will be directed into Kuwaiti tourism projects in the North Coast and the Red Sea region.

REMEMBER- Prime Minister Moustafa Madbouly presented a number of potential investments to Kuwaiti Prime Minister Sheikh Ahmed Al Sabah during his official visit to the Gulf nation in late February. These included projects in the agriculture and pharma sectors and in the North Coast and the Red Sea.

Kuwait is also eyeing assets slated for privatization: Kuwait aims to acquire stakes in government-owned companies enlisted in the privatization program as well as to compete for Egyptian airport management contracts, according to the news outlet.

THE BIG STORY ABROAD-

Trump’s call with Zelenkyy is plastered across front pages in the foreign press this afternoon: US President Donald Trump and Ukrainian President Volodymyr Zelenskyy yesterday agreed to work towards ending Russia’s war on Ukraine during a phone call that was described as “very good” by Trump and “very substantive” by his Ukrainian counterpart.

The details: The two leaders agreed on a partial ceasefire against energy infrastructure, with plans to dispatch technical teams to Saudi Arabia in the coming days to discuss extending the ceasefire to the Black Sea, according to a statement from the White House. Zelenskyy also requested additional air defense systems, which Trump promised to help secure from Europe. The conversation follows a previous call this week between Trump and Russian President Vladimir Putin during which the latter rejected a proposed 30-day ceasefire but agreed to halt strikes on energy and infrastructure facilities.

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

  • Valu is on the runway to make its EGX debut this summer: Regional financial services giant EFG Holding has gotten preliminary approval from the Financial Regulatory Authority to restructure its ownership of consumer finance platform Valu ahead of the fintech player’s hotly anticipated EGX debut.
  • The state has appointed an advisor to value Banque du Caire, Prime Minister Moustafa Madbouly confirmed during his weekly presser yesterday.
  • 2025 is quickly becoming the year of protectionism and trade wars — and Egypt’s steel industry is far from immune. Egyptian steel exports are facing increasing barriers due to protective tariffs, which are set to drastically limit access to key international markets.

☀️ TOMORROW’S WEATHER- Expect similar weather tomorrow in the capital, with the high still set at 19°C in the morning and dipping just by a notch to 12°C at night, according to our favorite weather app.

Tags: