Good morning, friends, and happy Thursday. We wrap up what has been a pretty quiet week with another brisk issue, led by logistics news after sources let us in on the government’s USD 1 bn plan to build bunkering stations across the Suez Canal.

ALSO IN TODAY’S ISSUE- Part two of our interview with CIT Minister Amr Talaat, which dives into AI’s impact on the local economy and Egypt’s place as a digital service export hub.

Our coverage of the EnterpriseAM Egypt Forum 2025 continues. This year’s forum was packed with actionable intelligence on the future of Egyptian business. To make sure you don’t miss a thing, we launched the EnterpriseAM Forum Playback.

Every Thursday at 10am, you’ll receive a special newsletter breaking down one key session — from the future of work to getting capital markets off life support. We’ll also drop a companion podcast in our EnterpriseAM Egypt feed so you can listen on the go.

In today’s issue: We revisit our on-stage conversation on whether Egypt’s capital markets can turn a fragile rebound into lasting growth, with EFG Hermes’ global head of investment banking Moustafa Gad, CI Capital sell-side CEO Amr Helal, and BCG Cairo managing director and partner Bassem Fayek.

Want more? We’re soft launching our YouTube channel where we’ve dropped video highlights.

PSA-

Stranger Things fans assemble: Whether you want to watch yourself or you’re forced to by your spawn: It’s Stranger Things day. The first four episodes of what its producers are calling Volume 1 of the final season dropped on Netflix earlier this morning. Three more (Volume 2) drop on 25 December, and the finale will stream on 31 December. Each episode will be well north of an hour long.

WEATHER- It’s another cool day in Cairo, with a high of 25°C and a low of 15°C, according to our favorite weather app.

It’s a few degrees cooler in Alexandria, with a high of 24°C and a low of 13°C.

THE LONG GAME-

All roads lead to Riyadh? Nearly 90% of Egyptian business leaders expect to “significantly increase” their trade with KSA over the next five years, according to data from HSBC’s New Networks of Capital: Saudi Arabia report seen by EnterpriseAM. Egyptian businesses’ keenness to do business with the Kingdom placed Egypt among the most KSA-curious markets of the eight markets surveyed.

Over two fifths of Egyptian businesses signalled technology as the sector with the biggest growth potential, just ahead of energy and renewables, which was identified by some 35% of respondents.

But entering the market is not without its concerns — chief among which are foreign ownership restrictions and market competition, which both ranked as the joint two top concerns with a collective 62% of votes cast.

Looking ahead, investment relations between the two countries are entering a new phase, thinks HSBC Egypt CEO Todd Wilcox. “The recent Saudi-Egyptian Investment and Promotion Agreement marks a critical milestone, offering investors from both countries enhanced legal safeguards, improved capital mobility and greater certainty as they expand their footprints,” he explained.

DATA POINT-

Total financing provided by entities regulated by the Financial Regulatory Authority reached EGP 954.2 bn in the first nine months of 2025, according to a statement from the authority. Equity issuances led with EGP 497.5 bn, followed by leasing contracts with EGP 122.2 bn, and discounted securities with EGP 91.9 bn.

Have you checked out EnterpriseAM MENA <> India? It’s our newest briefing tracking one of the world’s most dynamic trade, investment, and cultural corridors. Every Monday, Wednesday, and Friday, we’ll track the transactions, trends, and market moves connecting these two dynamic regions. The flow of capital, talent, and trade between MENA and the Indian subcontinent is one of the most important economic stories in the world — and we’re telling as only we can.

If you’re investing, trading, or scouting for your next big move in MENA or India, subscribe to EnterpriseAM MENA <> India by tapping here to get the strategic intelligence you need.

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THE BIG STORY ABROAD-

Two tragedies are dominating front pages this morning, a residential mega-fire in Hong Kong and a shooting near the White House.

Hong Kong’s worst residential fire in decades killed 44 and left hundreds more missing. Efforts are ongoing to stop the blaze, and the police arrested three people from a construction company that was carrying out maintenance work on the building. (Reuters | CNN | Financial Times)

MEANWHILE- Washington, DC is on high alert, after a gunman shot and critically wounded two National Guard members, a few blocks from the White House. The shooting — a day before Thanksgiving — sent shockwaves through the US, with more National Guard units deployed to the capital. The suspect is said to be an Afghan man who came to the country fleeing Taliban rule in 2021. (NYTimes | Washington Post)

ALSO WORTH READING-

  • Apple’s iPhone shipments could beat Samsung this year for the first time in 14 years. (CNBC)
  • Army officers announced a coup in Guinea-Bissau, a day before presidential election results were due out. (Reuters)
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