Good afternoon, friends. The mercury is set to climb up this week, following the lead of a news cycle that seems to be continuing to heat up.

THE BIG STORY TODAY-

📍 Remittances surged 30.9% y-o-y to USD 3.6 bn in September, continuing their post-EGP-float momentum with 19 consecutive months of y-o-y remittance growth, according to a statement (pdf) from the Central Bank of Egypt. Over the first nine months of 2025, remittances soared 45.1% y-o-y to a record USD 30.2 bn.

REMEMBER- Remittance inflows began returning to official channels after the float of the EGP back in March 2024, which effectively put an end to the parallel market that had pushed remittance flows to unofficial channels.

It’s not just the post-float collapse of the parallel market driving remittances, but rising inflation also. Many Egyptians abroad have continued to increase the amount they send to their families at home to meet the rising cost of living for Egyptian households, one analyst told EnterpriseAM. Despite the welcome news that inflation is now at its slowest pace since March 2022, prices are still rising.

The first-phase results of the House elections face potential annulment: President Abdel Fattah El Sisi called on the National Election Authority to review appeals filed by a number of candidates over incidents that occurred during the first phase of the House of Representatives elections. The president asked the authority, in a statement issued today, to take the appropriate decision — Whether a full or partial annulment of the first phase and rerun it at a later date. The statement comes in reference to appeals submitted by some candidates alleging violations and irregularities that marred the election process.

Azza Fahmy Foundation secures historic Cairo building for artisan training hub: The Azza Fahmy Foundation for the Development of Traditional Handicrafts (AFF) has signed an MoU with the Urban Development Fund (UDF) to allocate a building in the Darb al-Labana redevelopment project as the future home of the Azza Fahmy School of Crafts and Creativity. This marks a significant expansion for the foundation as it consolidates its artisan training, cultural programming, and community engagement, according to the foundation’s press release(pdf).

Prime Minister Mostafa Madbouly attended the signing ceremony on Friday, 14 November, which took place on the sidelines of the Fustat Winter Festival launch at Fustat Hills Park. The MoU was signed by UDF Chairman Khaled Sediq and AFF Chairwoman Azza Fahmy. Madbouly praised the partnership as a model of “integration among the state, civil society, and cultural leaders to preserve the Egyptian identity,” according to the State Information Service.

The new four-story, 3.1k-square-meter facility is set to house a museum, archival library, design and craft studios, community spaces, and galleries for cultural events. Founded in 2012 by Azza Fahmy, the foundation hopes to establish a centralized cultural hub that positions Egypt as a regional leader in craftsmanship and design innovation, moving from variegated initiatives to a high-impact institution that serves both local and regional communities.

THE BIG STORY ABROAD-

🌐 It’s another busy afternoon in the global press in what is shaping up to be a pivotal week in global politics. Among the stories getting top billing is US President Trump’s latest announcement regarding the Epstein files. Singing an all-new tune, Trump is now calling on Republicans to vote to release the files, claiming on Truth Social that he has “nothing to hide,” and that “it’s time to move on from this democrat hoax.”

ICYMI- The past few days have seen a flurry of headlines zeroing in on Trump’s relationship with convicted [redacted] offender Jeffery Epstein, after a House committee released over 20k new files last week, many of which have raised some major flags pertaining to Trump and his administration, triggering panic in the White House. (CNN | BBC | Reuters | Guardian | Financial Times)

MEANWHILE- Ousted Bangladeshi leader Sheikh Hasina has been sentenced to death after court rulings found her guilty of crimes against humanity for the suppression of student-led protests that resulted in her government’s collapse last year. The former prime minister is currently in self-imposed exile in India, and has denounced the verdicts issued against her. “I am very proud of my government’s record on human rights and development,” she said. Hasina has been tried in absentia since her administration’s collapse, and the Indian government has ignored requests to extradite her. (CNN | BBC | Reuters | Guardian)

ALSO- Saudi Crown Prince and de facto ruler Mohammed bin Salman is set to meet with Trump at the White House tomorrow. The two leaders are expected to discuss a bilateral security agreement, in which the US would pledge to defend the Kingdom in the case of any attack. The meeting would come days after Saudi Arabia’s Sovereign Wealth Fund exited nine US stocks. (Politico | New York Times)

☀️ TOMORROW’S WEATHER- It’s going to be a little warmer in Cairo tomorrow, with the mercury set to peak at 27°C before dropping to 20°C, according to our favorite weather app.

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