Good morning, friends, and a very happy Friday to you all. After the busier-than-usual week, we’re happy to wind down and enjoy the mild weather. But resting doesn’t mean lack of progress…

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 final of a series that will serve as your roadmap to the new year. Instead of just surviving the last month 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-

ECONOMY-

The economy grew 5.3% in the first quarter of FY 2025-2026, up from 3.5% in the same period of the previous fiscal year, The Planning Ministry said in a statement. Real GDP reached EGP 2.34 tn, rising 4.9% y-o-y. The economic expansion was led by non-oil manufacturing and ICT, both of which grew 14.5%. Tourism rose 13.8%, while financial intermediation increased 10.2%. The Suez Canal also recovered, growing 8.6% — its first positive reading since the second quarter of FY 2023-2024, after a year and a half of geopolitical tensions.

DEBT WATCH-

IMF visit scheduled for 1-12 December: The IMF mission that will carry out the combined fifth and sixth reviews of of the country’s USD 8 bn extended fund facility program and the first review of the resilience and sustainability facility will be in town between 1-12 December, Prime Minister Moustafa Madbouly announced.

MANUFACTURING-

Elsewedy and China’s CJN to establish a USD 1 bn phosphate chemicals complex: China’s phosphate chemicals firm Kunming Chuan Jin Nuo Chemical Co. (CJN) and Elsewedy Industrial Development will develop a USD 1 bn phosphate-based chemical industrial complex in the Sokhna Industrial Zone’s Sokhna 360 industrial city, according to a cabinet statement. The complex is expected to be one of the largest of its kind in the Middle East.

PRIVATIZATION WATCH-

The government is set to offer five to seven new potential investments in the capital’s historic core to the private sector next year, a senior government official told EnterpriseAM. The move comes as part of the government’s efforts to revive the heart of Cairo and transform it into a commercial and tourist hub.

ENERGY-

#1- Another big-ticket wind project is in the works, with Alcazar Energy Partners havinginked a share sale and purchase agreement with Siemens Gamesa Renewable Energy to jointly develop, construct, and operate the 500 MW NIAT wind project in Egypt, Alcazar said in a statement.

#2- The Oil Ministry and the Suez Canal Authority (SCA) signed an MoU to develop a liquefied natural gas (LNG) station in Port Said, according to a statement. The station will liquefy, store, and supply LNG to canal tugboats and ferries, replacing conventional fuels.

M&A WATCH-

AD Ports Group acquired PIF-owned Saudi Egyptian Investment Company’s entire 19.3% stake in Alexandria Container and Cargo Handling Company in a transaction valued at EGP 13.24 bn, the Abu Dhabi wealth fund ADQ-owned ports operator said.

TAX-

The Finance Ministry is mulling amendments to the application mechanism of the property transfer tax, with the aim of easing the tax burden on individuals who frequently sell properties, by introducing a flat 2.5% tax rate and applying it only to the first three or four property transactions, a senior government official told EnterpriseAM.

AND- The Finance Ministry will soon begin to take inventory of real estate assets as part of the government’s proposed amendments to the Property Tax Law

HOSPITALITY-

#1- El Gouna announced the pre-launch of La Maison Bleue Residences, a set of serviced boutique residences that will be built next to the existing La Maison Bleue boutique hotel that has recently been awarded a Michelin Key. The project is expected to open its doors within two years.

LOGISTICS-

Egypt is gearing up for the return of ships to the Suez Canal with a USD 1 bn plan to build bunkering stations, two government sources told EnterpriseAM. The plan includes fixed stations along the canal, in addition to floating bunkering barges capable of refueling Suezmax vessels — the largest of vessels that can still make the transit — each of which will be developed in partnership with the private sector, we were told.

🌍 AROUND THE WORLD IN SEVEN DAYS-

US President Donald Trump labeled several Muslim Brotherhood branches — including those in Egypt, Lebanon, and Jordan — as foreign terrorist organizations and specially designated global terrorists, according to a White House executive order issued Monday. The order says it “sets in motion a process by which certain chapters … shall be considered for designation” under US counterterrorism laws, citing what it describes as a “transnational network” whose activities “threaten the security of American civilians.” (Reuters | Bloomberg | France 24)

ALSO IN DC- A gunman shot and critically wounded two National Guard members, a few blocks from the White House. Following the incident, the US halted the processing of all immigration requests from Afghanistan. “We must now re-examine every single alien who has entered our country from Afghanistan […] and we must take all necessary measures to ensure the removal of any alien from any country who does not belong here,” Trump said. (Axios | BBC | CNN | New York Times)

IN DIPLOMACY NEWS- A-US backed peace framework won Ukraine’s backing after a few days of intense negotiations, with “only a few remaining points of disagreement,” according to US President Trump. The amended proposal is unlikely to appeal to Moscow, which seems uncompromising on its goals to solidify territorial gains and slash Ukraine’s military within an inch of its life. (CNN | Reuters | CNBC)

ELSEWHERE IN THE WORLD- Hong Kong’s worst residential fire in decades killed over 55 and left hundreds more missing. The police arrested three people from a construction company that was carrying out maintenance work on the building. (Reuters | CNN | Financial Times)

AND- A group of military officers announced a coup in Guinea-Bissau. The military coup came just one day before the results of the country’s presidential elections were to be announced. (BBC | Bloomberg | Reuters)

CLOSER TO HOME- A high-profile strike by Israel on Beirut — the first in months — killed militant group Hezbollah’s acting military chief of staff Haytham Ali Tabatabai. Five civilians were killed and 28 others were injured. (Washington Post | Reuters)

MEANWHILE- Pope Leo XIV heads to Lebanon and Turkey. The pope’s six-day Middle East tour, now underway, marks his first foreign trip since his election in May. The American pope is set to meet with religious leaders in both countries, as well as Turkish President Recep Tayyip Erdoğan and his Lebanese President Joseph Aoun. (Associated Press | CNN | New York Times | Washington Post)

OVER IN THE BUSINESS PRESS- Warner Bros received bids from Netflix, Paramount Skydance, and Comcast as the company mulls a sale of its business after rejecting a nearly USD 60 bn bid from Paramount Skydance earlier. Netflix and Comcast are eyeing its film and TV library, while Paramount Skydance is looking to take over the entire business. (Reuters | Bloomberg | New York Times)

☀️ THE WEATHER THIS WEEKEND-

We’re in for a sunny weekend, with temperatures reaching a high of 26°C today before cooling down to 17°C. On Saturday, we’ll be in for a cool night, with temperatures dropping to 13°C after peaking at 26°C, according to our favorite weather app.

🎤 HAPPENING THIS WEEKEND-

What’s buzzing over at Al Horreya Garden? Egypt’s Honey Festival runs from Thursday, 27 November to Sunday, 30 November. The event promises top-quality pure honey, bringing together honey producers, sellers, and buyers. You can register through the form in their Instagram bio.

Theatro Arkan is setting us up for a laughing fit this month with its new Comedy Gang Festival at The Golden Theatre. Running two nights a week and closing off tomorrow and on Saturday, 29 November, the festival brings together 56 of our favorite standup comedians with plenty of surprises and special guests in store. You can grab your tickets on Ticketsmarché.

Up for a quick adventure to Ain El Sokhna? Brought to you by TriFactory, the first ever IL Monte Galala Adventure Festival is taking place on Friday, 28 November at Ain El Sokhna’s IL Monte Galala. The festival features Ascent’s annual regional bouldering competition, fun workshops, and great food courtesy of the Grill Setup. Registration is open now and closes on Sunday, 23 November — you can secure your spot on TriFactory’s website.

The Pyramids Echo Festival is hosting a ‘Gala for Egyptian Stars under the Pyramids’ on Friday, 28 November at the Pyramids Panorama Theater. The special night features some of Egypt’s best performers including Amira and Mariam Abouzahra, Ashraf Seweilam, Gala El Hadidi, Sindy Mohamed, and Ragaa Eldin. You can get your tickets on Tazkarti.

The Winter Music Festival is back for another night at Madinaty’s Open Air Mall on Friday, 28 November. The lineup this time around is full of energy, featuring hip hop talents Mond, Shehab, and Tommyy. You can find tickets on Ticketsmarché.

Comedian Omar El Gamal is back for more with his special show Ain Gamal Vol.53 at Theatro Arkan on Friday, 28 November. The night promises laughter and a special reveal for the next chapter of the series. You can get your tickets on Ticketsmarché.

Egypt Fashion Week returns to Coterie building and Consoleya from Friday, 28 November to Sunday, 30 November. Join the front-row seat and watch runway looks designed by eight academic partners including faculty and their students. Expect a lineup of talks and panel discussions on craftsmanship, design education, finance, and sustainability. You can get your tickets on Ticketsmarché.

The Regional Sustainable Development Forum returns from Saturday, 29 November to Sunday, 30 November at Heliopolis University For Sustainable Development. Bringing together experts, government entities, private sector cooperations, social leaders, academic institutions, and NGOs, the event aims to pave the way for sustainable development in the region through collaborative work and sharing insights. Be part of the movement and join in for informative talks, panels, and workshops — tickets are available on Ticketsmarché.

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