Good morning, friends, and happy weekend. It’s been a long week, and we have an issue to match, so let’s dive in.

Most people wait until New Year’s to commit to improving their lives. But those with entrepreneurial mindsets know that 4Q offers the chance to charge into the new year. This week’s guide is the second of a series that will serve as your roadmap for the coming 90 days. Instead of just surviving the last few months of the year, why not transform your life?

Enterprise Weekend comes out each Friday at 9:00am CLT. We’ll be back on Sunday at 6am with EnterpriseAM. Until then: Enjoy the weekend.

🗞️ LAST WEEK IN 3 MINS-

TOURISM-

We’re closer to GEM’s grand opening than ever, with the long-anticipated opening event festivities for the world’s largest archaeological museum kicking off tomorrow. To ensure smooth operations, Prime Minister Moustafa Madbouly announced the day — Saturday, 1 November — a paid day off for public sector workers.

PRIVATIZATION WATCH-

The government is doubling down on its privatization drive — with a wider scope andnew approach, as the Madbouly government plans to expand its privatization program to include 50 state-owned companies spanning 14 economic sectors, up from 35 currently in focus, two government sources told EnterpriseAM. The new methodology aims to broaden private-sector capital participation, rather than rely solely on strategic asset sales.

ENERGY-

Energean inked a 15-year transmission agreement for Israel’s Nitzana pipeline to Egypt, the LSE-listed oil and gas company said in a statement. Under the agreement with the state-owned Israel Natural Gas Lines, the company will supply 1 bcm a year and cover USD 100 mn — or 16.4% — of construction costs.

TAX-

#1- Tax hike on alcoholic beverages coming soon: The Finance Ministry is preparing to taxalcoholic beverages based on their alcohol by volume percentage (ABV) in accordance with the amended VAT law starting 1 January 2026. The tax rate is set to rise by 15% annually for the next three years — after which the annual increase will be reduced to 12% starting 2029, according to a document seen by EnterpriseAM.

#2- The Finance Ministry has stepped in to resolve a major transitional headache for the construction sector following new VAT rules, approving a new accounting mechanism to effectively apply the new 14% VAT law to contracts inked before the new VAT rules while technically maintaining the original 5% rate, according to an official decision seen by EnterpriseAM.

M&A WATCH-

Edge Holding for Investments signed an agreement to acquire a 30% stake in Basata Microfinance, a subsidiary of Basata Financial Holding (BFH), through a capital increase, according to a joint statement (pdf). Edge will take on management duties to support Basata’s nationwide expansion. There’s no publicly available information about the size of the transaction and the number of new shares that will be issued.

DEBT WATCH-

#1- The country’s first retail bond issuance should go live in Q1 2026 or even before the end of 2025, a senior government official told EnterpriseAM. The issuance will be accompanied by a promotional campaign to attract tempted investors, the source added.

#2- The Madbouly government postponed its first-ever local sukuk issuance to next Monday, with settlement scheduled for the following day, after originally being pencilled in for last week, a senior government official told EnterpriseAM. The move marks the third time the shariah-compliant issuance has been postponed.

MANUFACTURING-

Chinese smartphone maker Oppo officially kicked off production at its Tenth of Ramadan factory as part of a USD 50 mn investment plan that will create 2k jobs, according to a company statement (pdf). The facility produces 400k units per month with plans to expand to 500k units in early 2026. Oppo also plans to raise the local component ratio in its Egypt-assembled phones, up from a current 42%.

INVESTMENT WATCH-

An Egyptian-Chinese consortium will invest over USD 75 mn across three new textile projects in Qantara West Industrial Zone, according to a statement. The projects, spanning 225k sqm, are expected to generate over USD 100 mn in annual exports and create around 3.6k jobs.

LOGISTICS-

Emirati port operator DP World inaugurated its USD 85 mn Sokhna Logistic Park in the Sokhna Industrial Zone, marking a strategic step in Egypt’s efforts to position itself as a regional hub for logistics services and global trade, according to a cabinet statement. The first phase of the project has begun operations, while the second will go online in 3Q 2026, once both are operational the zone will create 300 jobs.

🌍 AROUND THE WORLD IN SEVEN DAYS-

US President Donald Trump announced a 10% increase in tariffs on Canada — imports from the country are currently subject to a baseline 35% tariff — in response to a television ad sponsored by Canada’s Ontario province, featuring former Republican US president Ronald Reagan criticizing tariffs as harmful to the economy. (Reuters | Associated Press | Wall Street Journal | New York Times | Bloomberg | Guardian)

Less than a day after announcing the tariff hike on Canada, Trump struck several trade agreements with Asian countries during a trip throughout the continent, including a critical minerals pact with Malaysia and Japan, and a reciprocal trade agreement with Cambodia. A trade agreement between the US and Vietnam is also set to be finalized “in the coming weeks.” (CNN | Bloomberg | Reuters | BBC | Washington Post)

ALSO- The long-awaited meeting between US President Donald Trump and Chinese President Xi Jinping in South Korea has turned out “amazing,” Trump said, describing the crucial trade talks that had markets swinging and the world holding its breath in fear of a reignited trade war between the two global superpowers. The US president further noted that disputes over the supply of rare-earth materials have now been settled.

MEANWHILE- Argentina’s right-wing president led his party to a decisive victory in Sunday’s midterm elections. Milei’s victory follows a campaign in which Trump announced a USD 40 bn bailout package for the country were Milei to remain in office, after threatening to cut aid to the country in the event of Milei’s loss. (BBC | Guardian | Washington Post | Politico | Associated Press | New York Times)

IN PARIS- French police arrested two suspects they say could be related to the theft of bns worth of jewels from Paris’ Louvre Museum last week. (Guardian | Reuters)

OVER IN THE BUSINESS PRESS- Amazon’s plans to cut some 30k corporate jobs, its largest cut yet, slashing around 10% of its corporate workforce. The move comes as the firm looks to cut expenses and trim back its team after an overhiring wave during peak demand in the pandemic. (Reuters | Wall Street Journal | CNBC)

CLOSER TO HOME- The Israel-Hamas ceasefire seems to be in its most fragile state yet, after Israel launched military strikes on Gaza on Tuesday, killing 104 people and injuring over 200 others. An Israeli military official said the strike was in response to an attack from Hamas against Israeli military forces in an area within Gaza that is under Israeli control. (Reuters | Bloomberg | Financial Times)

☀️ THE WEATHER THIS WEEKEND-

We’re in for a warm couple of days this weekend, with temperatures in the capital on Friday peaking at 31°C before cooling down to 21°C. On Saturday, we’re in for a high of 30°C and a low of 21°C, according to our favorite weather app.

🎤 HAPPENING THIS WEEKEND-

Honor the 50th anniversary of Umm Kulthum’s passing with a musical produced by El Adl Group Studios at The Theater. Experience the legend’s life story through this special musical showing tonight. Tickets are available on Ticketsmarché.

Alt-scene pioneers Wust El Balad are headlining this year’s Cairo Jazz Festival. Catch them live at AUC Tahrir Square tonight and jam out to their most nostalgic hits. You can get your tickets on Ticketsmarché.

Cairokee live? Unmissable. The superband is back for another unforgettable night at El Malahy Arena tonight. Sing your heart out to their culture-defining anthems and grab your tickets now on Ticketsmarché before they sell out.

Darb 15 is bringing us another Huge Garage Sale happening today and tomorrow. Head to the iconic Maadi hub and browse through second-hand treasures, handmade pieces, and unexpected finds — just in time for the winter season.

Vegan friends, celebrate your day with Osana’s Plantopia Vegan Market in Maadi tomorrow from 11 AM to 5 PM. Explore new plant-based bites, sustainable goods, and cruelty-free products. You can recharge with a conscious living meditation session, and even bring your kids along for a fun mindful eating activity by securing a spot for them here.

Calling all art enthusiasts: Cairo International Art District is back. Art D’Égypte’s special production brings a diverse lineup of artists across restored heritage venues in Downtown Cairo. CIAD is open access to the public at Kodak Passageway until Sunday, 2 November and at the Shourbagy Building until Sunday, 16 November, with only Mondays off.

🎤 HAPPENING NEXT WEEKEND-

Paying homage to the legendary Lebanese composer Ziad Rahbani, the Cairo Jazz Festival is wrapping up with a tribute concert at AUC Tahrir on Friday, 7 November. In an orchestra led by Wagdy El Fiwy, artists Hazem Shaheen, Hany Adel, Rana Haggag, Nouran Abutaleb, and Alya Nada will be performing a powerful blend of symphonic arrangements with Rahbani’s timeless music. You can secure your spot on Ticketsmarché.

Saad ElOud is bringing authentic Egyptian vibes to Theatro Arkan on Friday, 7 November. Expect a night of soulful oriental music with the singer and oud player and his orchestra. Tickets are available on Ticketsmarché.

This year’s Cairo Comix Festival is celebrating a century of Egyptian comics. Running from Friday, 7 November to Sunday, 9 November, the festival is bringing its comic flair to Zamalek’s Mahmoud Mokhtar Museum with a packed program of immersive gallery events, book talks and signings, workshops, and a comic souk. Entrance is at no charge.

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