Good afternoon, friends, and happy almost-weekend. The news cycle seems to be winding down as we approach the end of the workweek.

THE BIG STORY TODAY-

Two Chinese smartphone makers are probing opening up production in Egypt under six-month pilot investment, which will see HKEX-listed Coolpad and KXD invest EGP 100 mn in an experimental first stage, Al Mal reports, citing unnamed industry sources. The two companies — which are understood to not share a parent company — will produce mid-range phones with a local component ratio reaching 45%.

The two companies will take stock off the experiment six months in — and hopefully follow this with some more investment news. Both companies have a particular interest in establishing production facilities in Egypt due to the country’s position as an entry point into African markets, according to the sources.

AND- Egypt plans to boost electricity interconnection capacity to 3.9 GW by the end of 2026, up from 790 MW last year, a government source told EnterpriseAM. The increase will come through the completion of multiple regional interconnection projects.

THE BIG STORY ABROAD-

It’s another day with a mixed bag of headlines in the international press. Among the stories getting top billing:

The Israeli army is set to call some 60k reservists in the coming weeks as it prepares to take full control of Gaza City. Israeli Defense Minister Israel Katz approved a plan to begin a new phase of military operations across Gaza’s most populated areas, where it says Hamas is still active. The news comes amid intensifying warnings of a worsening humanitarian crisis in Gaza, and follows Hamas’ acceptance of a ceasefire proposal — which Israel is yet to issue a formal response to. (Financial Times | Associated Press)

Over in business news, Chinese toymaker and Labubu manufacturer Pop Mart is anticipating over USD 4 bn in revenue in 2025. The Labubu-maker announced a 396.5% jump in net income as demand continued to rise for the doll collectibles, with revenue up 204.4% y-o-y in 1H 2025, exceeding forecasts. Shares in the Chinese toymaker have risen over 200% YTD. (Reuters | Bloomberg | CNBC)

☀️ TOMORROW’S WEATHER- Temperatures will be on the cooler side in Cairo, with a high of 36°C and a low of 23°C. Across the North Coast, we’re expecting some wind, with a high of 29°C and a low of 27°C, according to our favorite weather app.

Tags: