Good afternoon, friends, and congratulations on yet another successful workweek for the books. It’s been a busy one in the press, and we look forward to winding down even as the temperatures are set to spike.

THE BIG STORY TODAY-

📍AD Ports acquires 19.3% of Alexandria Container & Cargo Handling Company: AD Ports Group acquired PIF-owned Saudi Egyptian Investment Company’s (SEIC) 19.3% stake in Alexandria Container & Cargo Handling Company (ALCN) in a transaction valued at EGP 13.2 bn, according to a company statement (pdf). AD Ports Group funded the acquisition through a mix of cash and debt. The transfer of shares is expected to be completed on 24 November 2025.

ADQ’s combined stake in ALCN: With this acquisition, ADQ — owner of AD Ports Group — will indirectly hold a 19.3% stake in ALCN through AD Ports, and an additional 32% through Alpha Oryx.

ALCN operates two terminals in Alexandria and El Dekheila with a combined annual capacity of 1.5 mn TEU. ALCN’s terminals account for around 60% of Alexandria’s total container capacity.ALCN reported EGP 8.37 bn in revenue and EGP 6.09 bn in adjusted EBITDA for FY 2024-2025.

A new buyer may be lining up a takeover of Zahraa Maadi: Two investors, namely Mohamed Farouq and Ahmed Tarek (also Shark Tank investors), have expressed interest in acquiring a controlling 90% stake in Zahraa Maadi at EGP 6.95 per share, according to an EGX disclosure. If it materializes, the offer would hand effective control of the listed developer to the group. The investors say they’ll proceed only after reaching an agreement with Zahraa’s key shareholders, completing due diligence and securing regulatory clearance. The board is set to review the approach at its next meeting.

THE BIG STORY ABROAD-

🌐 The week is ending in a flurry of developments in the global press, with a handful of headlines making the rounds.

Israel’s latest strikes in Gaza killed at least 32 Palestinians on Wednesday and Thursday, including 12 children. The strikes bring the total official Palestinian death toll since the October ceasefire to 312, with some outlets reporting this as Israel’s 393rd violation of the ceasefire. Israel once again claims to have been targeting “terrorists,” while Hamas called on the US to pressure Israel to respect the truce. (Reuters | CNN)

Nvidia’s earnings report has lifted global tech stocks, with their shares rising 5% in premarket trading in the US. In Europe, Dutch semiconductor firm BESI gained over 3% and ASMI 2%, while in Asia, Samsung Electronics climbed 3.5% and Foxconn 3.3%. S&P 500 futures rose 1%, after a 3% decline in the broader market before the results. (CNBC | Reuters | Bloomberg)

US President Donald Trump is scheduled to meet NYC Mayor-Elect Zohran Mamdani at the White House tomorrow. Trump announced the meeting on social media late last night, incorrectly labeling Mamdani — a self-described democratic socialist — as the “Communist Mayor” of New York. Mamdani, who ran partly on promises to stand up to Trump, confirmed the meeting, saying he will seek common ground on issues like lowering grocery prices while defending immigrants and resisting federal funding cuts. Mamdani’s inauguration is scheduled for 1 January. (NYT)

☀️ TOMORROW’S WEATHER- We’re in for a balmy start to the weekend tomorrow, with the mercury set to rise to 31°C throughout the day before cooling to 19°C at night, according to our favorite weather app.

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