Good afternoon, friends, and welcome to the first workweek of the year. We’ve got a handful of important stories to kick it off, starting with our newly elected representatives, copper and oil price developments, and a quick guide on where to find your target audience on the internet.

THE BIG STORY TODAY-

📍 A total of 27 candidates have secured individual seats in the 2025 House of Representatives elections, National Election Authority Chairman Hazem Badawy announced in a press conference this afternoon. Of the 27 elected representatives, 10 are independent, with nine from the Mostakbal Watan Party. The results follow the runoff round held across 19 constituencies where initial results were annulled by the NEA due to suspected foul play during the first phase.

ICYMI- The repeat elections were held after the NEA responded to President Abdel Fattah El Sisi’s call to investigate appeals filed by several candidates regarding alleged manipulation of the first-phase results. Consequently, the NEA ordered a re-run in 19 constituencies across the governorates of Giza, Fayoum, Assiut, Sohag, Qena, Alexandria, and Beheira.

THE BIG STORY ABROAD-

🌐 Oil supply from OPEC+ is set to remain steady despite the US’ capture of Venezuelan President Nicolas Maduro and tensions in Saudi Arabia and the UAE, according to Sunday’s delegates meeting. The eight members of OPEC+ had agreed in November to pause output increases during the first quarter of 2026 after 2025 saw a more than 18% drop in oil prices — the biggest annual decline since 2020 — growing oversupply concerns, and weak demand.

Analysts are saying the shocking ousting of Venezuela’s Maduro is “unlikely to shock energy markets in the near term.” Markets had already accounted for disrupted oil exports from Venezuela. Despite having the largest proven oil reserve in the world, the South American country produces less than 1% of global oil and exports only half of it. Oil prices may experience further decline if a regime change raises potential for a boost in Venezuelan oil production.

^^Read more on: Reuters, Bloomberg, and CNBC.

** CATCH UP QUICK on the top stories from today’s EnterpriseAM:

  • The Madbouly government is looking to net at least USD 6 bn from its divestment program as it lays the groundwork for our final two reviews under an extended fund facility (EFF) with the International Monetary Fund. The program is due to wrap by the end of this year;
  • The EGP closed 2025 on a high note, having appreciated 6.7% for the year against the greenback. Driven by a record-breaking surge in remittances, surging tourism, and improving exports, the EGP is widely projected to strengthen further in 2026 as the nation moves from a “vicious cycle” of devaluation to a “virtuous cycle” of upgrades;
  • Debt service costs are neutralizing a surge in state tax collection, with interest payments jumping 45.2% y-o-y to EGP 1.06 tn in the first five months of FY 2025-26. These payments accounted for the lion’s share of public spending between July and November, effectively consuming over 96% of the state’s total budget revenues during the period.

enterprise

*** 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 taking a look at how the volatility in copper prices is impacting Egyptian industry.

☁️ TOMORROW’S WEATHER- Stay warm and layer up, we’re in for another cold day tomorrow. Temperatures in Cairo are set to peak at 22°C before dropping to a low of 11°C, according to our favorite weather app.

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