Good morning, friends. Happy Mawlid Al Nabi and welcome to a long-awaited long weekend. With more time on your hands, there’s much to do and see, and we’ve got you covered.

Have you found yourself marvelling at small beauties lately? Well, how about you dedicate some time to properly peruse Cairo’s art galleries and exhibitions? In this week’s edition of The Enterprise Guide, we’re listing down our favorite artsy havens and exhibitions you shouldn’t miss out on.

?️ LAST WEEK IN 3 MINS-

ECONOMY-

The economy grew at a 4.5% clip during the fiscal year 2024-2025, exceeding the 4.2% penciled in in the draft budget and almost doubling y-o-y from the 2.4% recorded in FY 2023-2024, Finance Minister Ahmed Kouchouk said during a presser attended by EnterpriseAM earlier this week. External debt fell USD 1 bn last fiscal year, and by about USD 4 bn over the past two years, this pushed the debt-to-GDP ratio to 85.6% in June 2025 from 89.4% in June 2024.

BANKING-

Local banks are starting to lower interest rates on savings products following the central bank’s 200 bps rate cut last week, with Banque Misr and the National Bank of Egypt (NBE) leading the way.

INVESTMENT WATCH-

China Energy Engineering Corporation (CEEC) is looking to invest USD 1 bn in Egypt over the next five years in desalination, renewables, and energy storage, Chairman Ni Zhen told Prime Minister Moustafa Madbouly on the sidelines of the Shanghai Cooperation Organization Plus summit. The company is also in talks with the Electricity Ministry over the possibility of investing in power generation, Zhen said.

ENERGY-

Egypt will begin construction of a long-stalled gas pipeline with Israel next year, agovernment source told EnterpriseAM, adding that the project was agreed to years ago, but was put on hold due to financial issues and geopolitical turmoil. This comes as we prepare to more than double Leviathan gas imports under the recently inked USD 35 bn agreement to send 130 bn cubic metres of gas to Egypt from 2026 through 2040.

DEBT WATCH-

#1- The Madbouly government plans to take EGP 25 bn worth of local sukuk to market this fiscal year, with the first issuance to take place before the end of 2025, a senior government official told EnterpriseAM. The Finance Ministry has finalized the sukuk program’s schedule, the source said, adding that the issuances will come in the form of short- and medium-term tranches.

#2- Gov’t ramps up borrowing target for the month: The Finance Ministry has upped its monthly borrowing target for September to EGP 838 bn, a 25% jump from August’s EGP 670 bn, a government source told EnterpriseAM. This move comes in response to the heightened demand from investors for local debt instruments.

DIPLOMACY-

Egypt and Qatar are moving closer to activating the USD 7.5 bn Qatari direct investment package. The meeting between Egyptian Prime Minister Moustafa Madbouly and his Qatari counterpart Sheikh Mohammed bin Abdulrahman Al Thani addressed steps to activate the investment package, which was first announced during President Abdel Fattah El Sisi’s visit to Qatar in April, and reviewed ways to facilitate Qatari investments and engagement with Egypt’s business community.

AUTOMOTIVE-

Auto sales fell 4.9% m-o-m in July to 15.6k units from June’s 16.4k, according to figures from the Automotive Marketing Information Council (Amic) seen by EnterpriseAM. The dip comes after five straight months of gains which started in February, though July still marked the second-highest total vehicle count since June 2022.

AROUND THE WORLD IN SEVEN DAYS-

Tariffs hit a snag: A US court of appeals ruled last Friday that President Trump’s aggressive trade agenda is overstepping his presidential authority. The ruling blocks sweeping tariffs on all imports from countries, but does not affect tariffs on specific industries like steel, aluminum, and autos.

ALSO IN THE US- Gold prices rose to fresh highs as traders reacted to a weakening greenback and expectations of a Fed rate cut this month. The price of gold rose above USD USD 3.5k per ounce this week. Meanwhile, silver hit a 14-year high of USD 41.00 per ounce.

OVER IN THE BUSINESS PRESS- Nestle fired CEO Laurent Freixe after an investigation confirmed he breached the company’s code of conduct by engaging in an “undisclosed romantic relationship” with a direct subordinate. The move takes place exactly a year after he took office.

Google won’t have to sell Chrome after all: Tech giant Google will not be forced to sellChrome or Android, according to the US Department of Justice ruling, instead it will be required to share more data with competitors and limit its exclusive distribution contracts — including its exclusive partnership with Apple for its Gemini chatbot. The ruling follows last year’s verdict that Google illegally monopolized the online search market.

A magnitude 6.0 earthquake in Afghanistan left over 1k dead and 2.8k injured late Sunday. The quake struck 27 km from Jalalabad, with its impact felt in the Afghan capital of Kabul 161 km away, CNN reported.

Another natural disaster followed, with a landslide in western Sudan killing at least 370 people. The Sudan Liberation Movement, which is in control of the affected Marra Mountains area, claimed that the death toll surpassed 1k. The landslide was triggered by days of heavy rain, and left the village of Tarasin flattened. The natural disaster is among the deadliest in Sudan’s recent history.

Israeli airstrikes on Yemen killed Houthi’s Prime Minister Ahmed Al Rahawi and several political leaders last Thursday. The news came as Hamas also confirmed the death of military chief Mohammad Sinwar.

ALSO- Israel said it killed Hamas spokesman Abu Obeida on Saturday. Israeli Defense Minister Israel Katz said in a post on X that forces have “eliminated” the masked spokesman.

☀️ THE WEATHER THIS WEEKEND-

We’re in for a warm time, with temperatures in Cairo set to peak at 34-36°C over the long weekend, before cooling down to 22-23°C. Spending the weekend up north? We’re expecting highs of 28-29°C and lows of 26-27°C, according to our favorite weather app.

?️HAPPENING THIS WEEKEND-

Show off your trivia skills with Chipmunk’s famous Trivia Night at Darb 15. Prepare yourself for some friendly competition and join tomorrow. Register through the link in their Instagram bio.

Opt for a slow morning and join Darb 15’s Cairo Morning Club for Minimalism: Less isMore. Breathwork, meditation, journaling, and intentional conversations are all part of the agenda on Friday. Book your spot through the link in their Instagram bio.

Some of your favorite comedians are taking the stage for the Stand Up Comedy Show at Theatro Arkan. Laugh the night away on Friday and get your tickets on Ticketsmarché.

Customize your own rug in a tufting workshop with Tuft Egypt at Darb 15. Join the creative session on Saturday and register through the link in their Instagram bio.

Channel your passion for jewelry and make your own with Joud’s Wearable SuncatcherWorkshop at Darb 15. Enjoy the experience of wearing light-catching accessories. Join on Saturday and secure your spot through the link in their Instagram bio.

We’re in for another musical night with Medhat Saleh led by Maestro Amro Selim alongside a performance by Mai Farouk at Marassi’s Address Beach Resort. Don’t miss it on Saturday and get your tickets through Ticketsmarché.

?️HAPPENING NEXT WEEKEND-

Good news, friends: We’ve got some squash to look forward to this September. Running from Friday, 12 September to Friday, 19 September, the CIB Egyptian Squash Open 2025 — headlined by World No. 1s Mostafa Asal and Nouran Gohar — will be taking place right by the Great Pyramids of Giza, with opening games at Club O West. Ticket details are yet to be confirmed, but we’d suggest keeping an eye out for them on the tournament’s website.

Address Beach Resort is where the fun never stops. Megastars Wael Gassar and RehamAbdelhakim will give electric performances at Marassi on Saturday, 13 September. Head over to Ticketsmarché for tickets.

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