Good morning, wonderful people, and welcome to the first workweek of fall — summer officially ends tomorrow.

We’re having good thoughts this morning for all parents, especially those whose college-age offspring are settling into new routines outside the country. It’s wonderful — and it sucks. (We’re also promised by the generations that have gone before us that it gets better. Hanshoof…)

If it’s fall, it’s time for the EnterpriseAM Egypt Forum, which gets underway in just 16 days at the St Regis Hotel on the bank of the Nile here in Cairo.

Egypt — heck, humanity — is at a turning point. Eighteen months into the float of the EGP, Egyptian companies are finally getting serious about exports and regional expansion. Employees and executives alike are grappling with how to build a great business from home. New roads, new bridges, and new cities are reshaping the face of our increasingly urban nation. The competition for leadership of the MENA region is in flux. The United States is reshaping the post-Second World War order. And everyone is low-key freaked out about what AI means for their businesses, their careers, and their children.

We’re going to dig into all of this and more on Tuesday, 7 October. On the agenda after our must-attend networking breakfast::

  • Top execs will explore how the alliance between Egypt and the UAE is reshaping the region’s economy;
  • Senior business and real estate leaders will outline a vision for where (and how) we will live (and work) in 2035;
  • We’ll dive deep into how Egyptian companies can help rebuild our region, from Libya to Sudan, Syria, and — pray God — Gaza.

Also on the agenda: We’ll discuss how Egyptian business leaders are winning in new markets; how to get capital markets off life support; how execs and owners are building businesses that can last — and how to make the best out of the Rise of the Robots.

The 2025 EnterpriseAM Egypt Forum is our flagship annual event and part of our must-attend series of invitation-only, C-suite-level gatherings that allow senior members of our community to openly and frankly discuss critical issues in key sectors of the economy.

WHO SHOULD ATTEND? Everyone who plays a role in our community, from CEOs and MDs to commercial and investment bankers, founders, providers of professional services, and more. Attendees at our events are C-suite officers, business owners, and their direct reports; we also make an allocation for folks we think could be tomorrow’s founders and C-suite executives. Egyptian and foreign members of our community are equally welcome to attend.

Want to request an invitation? Tap or click here. Space is strictly limited. Formal invitations have already started going out, and the only way to receive one is to let us know you’re interested.

** Did you receive an invite? You MUST click through to let us know whether you’re attending (the green button) or sending your regrets (the red button). Only folks who receive an invite and click the green button will receive a code to attend.

PSA-

You may want to leave for work earlier than usual this morning. Public schools are back in session for the fall term today, likely making your morning commute a little worse.

WEATHER- It’s another cool day in Cairo, with a high of 33°C and a low of 23°C, according to our favorite weather app.

It’s more or less the same in Alexandria, with a high of 30°C and a low of 22°C.

WATCH THIS SPACE-

#1- Israeli Prime Minister Benjamin Netanyahu has reportedly asked the Trump administration to press Cairo to scale back what he claims is a major military build-up in Sinai, Axios reports, citing one US and two Israeli officials. During a meeting with Secretary of State Marco Rubio last week, Netanyahu handed over a list of activities he alleges violate the 1979 Camp David Accords. Egyptian officials have denied making any such moves.

REMEMBER- Our military deployment in Sinai was reportedly one of the reasons behind Netanyahu’s decision to freeze Israel’s USD 35 bn gas export agreement with Egypt.

The Egyptian response: The State Information Service said that “forces deployed in Sinai are there to secure the Egyptian border against all threats — terrorist operations and smuggling,” adding that Egypt is “fully committed” to upholding its end of the accords.

#2- Want to get your hands on the latest iPhone? You can now pre-order the new iPhone 17 in Egypt — the base model starts at EGP 62.5k, the Air model at EGP 79k, the Pro model at EGP 86.5k, and the Pro Max model at EGP 94k. The prices mark an almost 50% increase over Apple’s official prices in the US.

REMEMBER- Imported mobile phones are subject to customs and taxes totaling 38.5% — including a 5% industry development fee — as the government looks to support the local mobile phone assembly industry.

#3-The Oil Ministry has finalized a decision to raise natural gas prices for factories by USD 1 per mn British thermal units (BTU), two government sources told EnterpriseAM. The move — delayed in recent months to contain inflation — has already been approved by state-owned Egas and is now awaiting cabinet approval before being applied across industrial sectors and published in the Official Gazette, one of the sources said.

The government could choose to implement the increase immediately or from 1 October to give factories time to adjust production costs. An industry source in the fertilizers sector said the hike has yet to be formally communicated, noting that repeated postponements had helped stabilize prices and support export growth.

DATA POINT-

Suez Canal revenues rose 11% y-o-y in July to USD 359 mn, with vessel traffic inching up 0.8% to 1,055 ships and cargo volumes climbing 6.8% to 44.9 mn tons, according to Capmas data.

HAPPENING TODAY-

Join Diwan and Whalez for an uplifting evening of climate conversation at Consoleya tonight from 6pm to 8pm.Climate Connect — a monthly volunteer-led initiative — will feature meaningful discussions on our climate future with a distinguished panel featuring actress and activist Hend Sabry, VP of social entrepreneurship platform Ashoka Iman Bibars, and UNDP representative Chitose Noguchi. The evening will also showcase a special musical performance by Palestinian creative Huda Asfour. No registration is required.

CIRCLE YOUR CALENDAR-

Egyptian-Chinese Business Forum postponed: The Federation of Egyptian Chamber of Commerce has pushed back the 2025 Egyptian-Chinese Business Forum — which was set to take place on Tuesday, 23 September — at the request of the Chinese side, writes Al Mal. A new date will be announced once decided. The forum was set to showcase potential investments across six key sectors — IT, innovation, green economy, digital transformation, building materials, and infrastructure and décor — and to highlight government incentives to lure fresh investment and partnerships serving Egypt, the Middle East, and Africa.

Check out our full calendar on the web for a comprehensive listing of upcoming news events, national holidays and news triggers.

** DID YOU KNOW that we cover Saudi Arabia and the UAE?

** Were you forwarded this email? Tap or click here to get your own copy delivered every weekday before 7am Cairo time — without charge.

THE BIG STORY ABROAD-

Trump just slapped a USD 100k toll on the American Dream for immigrants, unveiling the steepest hike yet for H-1B visas and rolling out a “Gold Card” residency scheme that lets mn’aires buy their way into the US. The new rules — which target the work permits used by Silicon Valley to hire foreign engineers and scientists — also allow companies to pay USD 2 mn per worker to sponsor them.

The backlash has been swift: US immigration lawyers warn the six-figure fee could “effectively kill” the H-1B program, while Indian officials — whose nationals make up about three-quarters of approvals — said they will “consult on the best path forward.” Nasscom, India’s IT industry lobby, said the policy would create “considerable uncertainty” for US innovation and Indian workers alike. (Bloomberg | Financial Times | Reuters | New York Times | Associated Press | Wall Street Journal | Politico)

AND- ABC’s sudden suspension of late-night host Jimmy Kimmel after his comments about the killing of Charlie Kirk has sent shockwaves through America’s media world, with the Trump-appointed Federal Communications Commission chair openly threatening to pull broadcast licences from stations that don’t toe the line. Protesters gathered outside Kimmel’s Hollywood studio while major networks scrambled to adjust their programming, underscoring what one media scholar called a “continued lurch to the right” in US broadcasting. (Reuters | BBC | The Guardian)

ALSO MAKING HEADLINES- The White House says a deal is near that would give US investors — led by Oracle — control over TikTok’s US operations, including the prized algorithm that drives the app’s video feed. (Associated Press | BBC | New York Times | Axios | Bloomberg)

Tags: