Good afternoon, friends, and welcome to the start of a new workweek. Today’s issue brings you updates on the latest FinMin developments and precious metal prices, fills you in on how Egypt can position itself as a regional telecom hub, and revisits our piece on marketing campaigns, this time focusing on those who choose to blend in rather than stand out. Let’s dive in.

THE BIG STORY TODAY-

📍 The Finance Ministry is preparing a wide-ranging package of fiscal reforms that targets some of the private sector’s deepest structural grievances, Deputy Finance Minister Sherif El Kilany told EnterpriseAM. The measures — which range from significant changes to how freezones are taxed to tax exemption brackets for income expanding to take into account inflation — signal the state’s focus on tax fundamentals is far from over.


Raising the tax exemption bracket to shield low-income earners from the pressures of inflation is currently being studied by the ministry, according to El Kilany. For employers, this is also a net positive — it improves employees’ take-home pay without immediately forcing a gross salary hike to match inflation.

CORRECTION- In the original version of this story, we incorrectly said that the tax exemption bracket would be pegged to inflation. Instead, the ministry is mulling a one time amendment to the rate to account for inflation.

** Read the full story and more in tomorrow’s issue of EnterpriseAM.

THE BIG STORY ABROAD-

🌐 Gold, silver, and platinum continue their year-end rally, breaking last week’s record high. Precious metal prices are still climbing, with spot gold climbing as much as 1.6% over the weekend to surpass USD 4.5k per ounce, while silver has jumped 7.6% to cross the USD 77 mark. Platinum has followed suit, trading above USD 2.4k per ounce for the first time in decades.

Analysts believe the rally is fuelled by heightened safe-haven demand due to escalating geopolitical tensions following recent US military strikes against Nigeria and intensified pressure on Venezuela by the US blockade of oil tankers. The Bloomberg USD Spot Index fell 0.7% last week, its steepest decline since June, adding to the appeal of precious metals, which are on track for their best annual performances since 1979.

**Read more on Bloomberg: Gold and Silver Smash Records Again as Rally Gathers Momentum.

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*** It’s Inside Industry day — your weekly Sunday briefing of all things industrial in Egypt. Inside Industry explores what it takes to turn Egypt into a manufacturing and export powerhouse, ranging from initial investment and planning through to product distribution, land allocation, industrial processes, supply chain management, labor, automation and technology, inputs and exports, and regulation and policy.

In today’s issue: We’re looking at how the circular economy model in the ICT sector is putting Egypt on the path to becoming a regional telecom hub.

☀️ TOMORROW’S WEATHER- Grab your favorite sweater if you haven’t already — we’re in for a cooler than usual day in the capital tomorrow. Temperatures are set to peak at just 20°C before cooling even further to 11°C, according to our favorite weather app.

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