Good afternoon, friends, and happy almost-weekend. It’s another busy day in the global press, and here at home, we’re celebrating a cooling inflation rate.

THE BIG STORY TODAY-

Annual headline urban inflation eased again in August by nearly two whole percentage points, falling to 12.0% y-o-y in August, according to data from state statistics agency Capmas seen by EnterpriseAM. The 1.9 percentage point fall from July brings the country’s headline figure to its lowest reading since March 2022 and marks the third consecutive month of easing price growth.

Pretty much all analysts forecast headline inflation falling this month, but few saw itfalling by as much as this, with a Reuters poll of 13 analysts producing a median forecast of 12.7% y-o-y.

Driving the decline was an easing in food and beverages prices — the largest component of the basket of goods and services used to calculate headline inflation — with food prices increasing only 2.1% y-o-y for the month. The figure marks the fourth monthly deceleration in price increases and a four-year low. Non-food inflation also dropped 2.2 percentage points to 19.0% y-o-y.

ALSO- Ferchem Misr makes strong EGX main market debut, shares jump 20%: Ferchem Misr for Fertilizers & Chemicals saw its shares surge 20% on its first day of trading on the EGX main market, after completing its transfer from the Nile Exchange. The stock closed at EGP 54.73, up from a previous close of EGP 45.61, with trading capped at the maximum daily allowable limit. The session saw 6k shares change hands in three trades, generating a total turnover of EGP 330k. At its closing price, Ferchem’s market capitalization stood at EGP 21.9 bn.

Mark your calendar for the 2025 EnterpriseAM Egypt Forum, our flagship forum and part of our must-attend series of invitation-only, C-suite-level gatherings. Tap to register your interest to attend. Want to partner with us? Reach out to Moustafa Taalab at mtaalab@enterprisemea.com to explore sponsorship opportunities.

THE BIG STORY ABROAD-

It’s another busy day in the global press following Israel’s attack on Qatar, with most — if not all — media outlets zeroing in on its implications amidst heightened regional tensions.

Leading the news this afternoon is an announcement from Polish Prime Minister Donald Tusk that the country is at its closest to open conflict since World War II after Russian drones infiltrated the Nato member’s airspace. Four of at least 19 Russian drones that entered the Polish airspace overnight were shot down by Nato and Polish aircrafts.

Though Russian drones have crossed through Poland before, the incident marks the first time they have been intercepted over Nato territory. Thus far, seven drones have been located across the European country, with damages recorded in the south-eastern regions, though no injuries have been reported. The country invoked Nato Article 4, which mandates consultation among the Nato council when a member state believes its security to be threatened. The article has been invoked seven times since the beginning of the Russian war on Ukraine.

“I have no reason to claim we’re on the brink of war, but a line has been crossed, and it’s incomparably more dangerous than before,” Tusk said. “This is not just a war for Ukrainians. This is a confrontation that Russia has declared against the entire free world,” he added. (BBC | Reuters | New York Times | Wall Street Journal | CNN | Financial Times | Bloomberg | Guardian)

☀️ TOMORROW’S WEATHER- The cool weather streak continues, with temperatures in the capital peaking at a sensible and sunny 33°C before dropping to 21°C, according to our favorite weather app.

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