Good afternoon, friends, and congratulations on making it to the half-way mark of the workweek. It’s looking like an energy-heavy news day here at home, with a handful of big energy stories leading the news cycle this afternoon. Globally, however, headlines aren’t focusing on one particular story, with many in the spotlight.

THE BIG STORIES TODAY

#1- The government paid out USD 1 bn in arrears owed to international oil companies during the first week of July, Asharq Business reports, citing an unnamed government source with knowledge of the matter. This month’s disbursements mean that Egypt has paid out a total of USD 8.5 bn in arrears to IOCs in the last 12 months, after a similar payment in January and several other payments in 2024.

We still have some ways to go — but the end is in sight: Egypt’s total outstanding arrears now stand at around USD 2.5 bn, which the government plans to clear out in September, according to the government source.

#2- UAE’s AMEA Power has commissioned its 300 MWh Battery Energy Storage System (BESS), Egypt’s first, at its 500 MW Abydos solar power plant, according to a press release. The integration of the BESS system into the solar project was financed by a USD 72 mn package from the International Finance Corporation.

Expanding the local footprint: The project is among the two Amea Power agreed to invest some USD 800 mn to develop last year. The investment also covers a 1 GW solar power plant with 600 MWh BESS in Benban. Amea will also set up a 1 GWh BESS facility in Zafarana.

For Dasha Badrawi and his team at Marakez, the North Coast is rooted in the memories of childhood summers in Agami and Montaza — the endless beach days and the simple roaming from cabin to sea. In a special Destination Sahel episode of Making It (our podcast on how regional leaders are building great businesses) Dasha is telling us how those memories are helping shape Ramla, Marakez’s flagship coastal project in Ras El Hekma.

Dasha is a longtime friend of EnterpriseAM and a big part of our origin story, so it was a treat for Patrick, our editor-in-chief, to have him on the show. They unpack how Marakez quietly became one of Egypt’s most influential developers — and Dasha’s journey from corporate law in London to building District 5, one of the hottest mixed-use destinations in the country.

Dasha’s secret? It’s been all about surrounding himself with the right people — and taking big bets on long-term value.

Dasha also shares what he sees driving buyer behavior in 2025, why Egypt’s real estate model keeps defying gravity, and how recurring revenue, walkable communities, and local authenticity will define the next chapter of the industry.

You can catch the full episode on Apple Podcasts | tune in on Spotify | and find us on Omny. Or tap or click here to go read the full transcript on our website.

THE BIG STORY ABROAD

It’s a thoroughly mixed bag in the international business press this afternoon, with no story clearly capturing their imagination thus far. Among the stories getting top billing:

JPMorgan Chase reported USD 15.0 bn in net income for 2Q 2025 on USD 44.9 bn in revenues, according to its earnings release (pdf). The bank’s bottom line performance for the quarter came in higher than expected, marking its sixth consecutive quarter of higher-than-forecast earnings. (Financial Times | Wall Street Journal | Reuters)

MEANWHILE- Nvidia is also in the headlines after the company said it plans to resume sales of its H20 AI chip to Chinese firms. The planned resumption of sales comes as the US government signaled to Nvidia that these exports would be approved, which Bloomberg notes is “a dramatic reversal from the Trump administration’s earlier stance on measures designed to limit Beijing’s AI ambitions.” Reuters also has the story.

☀️ TOMORROW’S WEATHER- Brace yourself for a particularly warm day tomorrow, with the mercury set to peak at 38°C, before cooling down to 23°C. The North Coast is also starting to get a little warmer, with a high of 29°C and a low of 25°C, according to our favorite weather app.

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