El Sisi kicks off GCC trip today with Qatar visit

Good afternoon, all. We’re kicking off what is shaping up to be another busy workweek as the tariff madness continues to unfold, and President Abdel Fattah El Sisi embarks on a Gulf trip.

THE BIG STORY TODAY-

El Sisi kicks off GCC trip: President Abdel Fattah El Sisi landed in Doha earlier today kicking off a two-stop Gulf trip that will also see him visit Kuwait, according to an Ittihadiya statement. During his time in Qatar, El Sisi is expected to meet with Qatari Emir Sheikh Tamim bin Hamad Al Thani to discuss ways to boost cooperation in a variety of sectors and regional development — namely Gaza’s latest.

And, of course, boosting investments is on the agenda: El Sisi is expected to hold a meeting with representatives of the Qatari business community to look into potential economic cooperation.

THE BIG STORY ABROAD-

The headline dominating the foreign pages hasn’t changed since this morning: The front pages are still all about US President Donald Trump’s decision to exempt a handful of tech products — including smartphones, computers, and semiconductors — from his reciprocal tariffs. The decision was a lifeline for tech players like Apple, which according to Bloomberg “dodged its biggest crisis since the pandemic.” (Financial Times | Reuters | CNBC)

CLOSER TO HOME- Two Israeli airstrikes destroyed parts of one of Gaza’s main hospitals. The Israeli side said the attack — which didn’t result in any casualties — targeted Hamas members. (Reuters | The Guardian)

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

• Egypt hiked vehicle fuel prices by up to 14.8%in its first hike of the year. The prices of industrial mazut and butane gas cylinders also saw an increase.
• Annual headline urban inflation reversed its downward trajectory to hit 13.6% in March, marking an 0.8 percentage point increase from the 12.8% recorded in February.
• S&P trimmed Egypt’s credit outlook to stable, bringing the rating agency's forecast in line with Fitch Ratings, which reaffirmed its stable outlook over the weekend.

*** It’s Inside Industry day — your weekly briefing of all things industrial in Egypt. Inside Industry focuses each Sunday on what it takes to turn Egypt into a manufacturing and export powerhouse, ranging from initial investment and planning to product distribution, through to land allocation to industrial processes, supply chain management, labor, automation and technology, inputs and exports, regulation and policy.

☀️ TOMORROW’S WEATHER- Expect a sunnier and slightly warmer day tomorrow, with the mercury set to rise to 25°C throughout the day before cooling to 14°C at night, according to our favorite weather app.