Good afternoon, friends. Congratulations on another workweek done and dusted.

THE BIG STORY TODAY-

📍2026 set to bring good news for our startups and entrepreneurs: The Finance Ministry is currently working with the Central Bank of Egypt and other relevant ministries to launch a first-of-its-kind financing initiative worth EGP 10 bn to support startups, a government source told EnterpriseAM. The initiative aims to provide concessional funding to entrepreneurs through the Micro, Small & Medium Enterprises Development Agency (MSMEDA) and the CBE, according to the source.

The initiative will also provide technical assistance and simplified procedures related to registration, documentation, and utilities. “This will help young people establish a large base of small projects and entrepreneurship activities on a sectoral basis, linked to the state’s plans to expand strategic industries and sectors,” our source added.

What about the rates? The Finance Ministry has not determined yet the final interest rate on loans offered under the initiative, but our source confirmed that the rates will be intentionally favorable to incentivize the sector.

The timeline: The initiative is expected to be launched in the first half of next year, according to our source.

THE BIG STORY ABROAD-

🌐 Still topping this week’s headlines is Russia, which has vowed to seize Eastern Ukraine as peace talks continue. Russian President Vladimir Putin has declared that Moscow will capture Ukraine’s Donbas and Novorossiya “by any means,” including military force, as diplomatic efforts to end the three-year conflict continue on multiple fronts. The statement comes as Ukrainian officials travel to Miami for fresh negotiations with US counterparts, following an unfruitful Tuesday meeting.

US President Donald Trump described the Moscow talks as “very good,” suggesting that Putin wants to end the war, contrary to prevailing theories by experts, who believe that prolonged discussions are advantageous for Russia, who continue to weaken Ukraine’s military capabilities as they maintain a battlefield advantage. Ukrainian officials continue to reject Russia’s territorial demands, which remains a non-negotiable for the Kremlin.

IN BUSINESS NEWS- The EU has launched yet another antitrust probe into Meta, this time over WhatsApp AI restrictions. The European Commission is investigating Meta’s policies restricting AI providers’ access to WhatsApp, marking the latest regulatory challenge for US tech companies in Europe. The probe examines whether Meta’s October policy change “prevent[s] third party AI providers from offering their services through WhatsApp in the European Economic Area.”

Meta rejected the allegations, stating that WhatsApp’s application programming wasn’t designed for AI chatbots, and “puts a strain on [their] systems.” The investigation arrives amid heightened EU scrutiny of US tech giants. Recent actions include a EUR 3 bn fine against Google for advertising violations, a EUR 500 mn penalty for Apple over anti-steering obligations, and a EUR 200 mn fine against Meta for data privacy breaches.

Potential penalties for antitrust violations can reach 10% of annual revenue, though no timeline has been set for the investigation’s conclusion. Trump has previously threatened retaliatory investigations and potential tariffs over EU actions against US tech companies.

☀️ TOMORROW’S WEATHER- We’re in for a warmer day in the capital tomorrow with temperatures peaking at 28°C before cooling down to 15°C, according to our favorite weather app.

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