Good morning, friends, and happy weekend. It’s been a busy week both at home and in the global press, and we’re glad to catch a breather. This week, the EGX welcomed fresh new faces, FinMin moved to activate a secondary market for sovereign sukuk, and global stock markets took a hit. We’ve got the full rundown below.

With a number of holidays fast approaching, there will be plenty of moments we’ll want to immortalize — but how do we do that without sentencing our memories to solitary confinement in our phone galleries? In this week’s edition of The Enterprise Guide, we’re looking at ways you can safeguard your favorite memories, all while enjoying the moment.

🗞️ LAST WEEK IN 3 MINS-

DEBT WATCH-

The Finance Ministry and the EGX are preparing to activate a secondary market for sovereign sukuk after Egypt’s EGP 200 bn sovereign sukuk program saw softened demand. The move to shift sukuk from the primary market to open exchange trading is designed to maximize returns and attract fresh liquidity as Egypt’s Islamic finance market matures.

ECONOMY-

#1- The Madbouly government is planning to allocate nearly EGP 250 bn in the FY 2026-2027 budget to fund financing initiatives targeting the industrial, export, and tourism sectors. The move supports the government’s target of raising industry’s GDP contribution to 20% by 2030 and meeting its USD 145 bn export goal.

#2- Egypt saw its non-oil private sector slip back into the red for the first time in four months, but it’s not all bad news. Despite the country’s headline figure, output rose for the third consecutive month.

CAPITAL MARKETS-

The EGX30 got a facelift, with four constituents exiting the benchmark EGX30 index, replaced by four newcomers. Sidpec, Mopco, and Credit Agricole departed the index, alongside real estate player Madinet Masr. Taking their places are snacks giant Edita, Heliopolis Housing, Kima, and Orascom Investment Holding.

AND- The EGX30 index concluded January at a record high of 47.78k points, marking a sharp 14.2% monthly increase.

COMMODITIES-

The government has officially resumed sugar exports to help local producers clear a massive 1-mn-ton inventory surplus. With a 10-month strategic reserve in place and the beet harvest beginning, the decision to reverse the export ban after three years is designed to provide an immediate liquidity injection for state and private factories struggling with high overheads.

FINTECH-

The Central Bank of Egypt has officially launched its regulatory framework for software point-of-sale (soft POS) devices, allowing merchants to turn any NFC-enabled smartphone or tablet into a payment terminal. The move follows a two-year pilot phase that had restricted contactless payment transactions to EGP 600; that limit has now been lifted, allowing soft POSes to function par with dedicated hardware terminals.

AUTOMOTIVE-

Abou Ghaly Motors is now the official importer and distributor of Piaggio Group’s iconic Vespa, Piaggio, Aprilia, and Moto Guzzi brands in Egypt under an agreement inked between the two. The two companies confirmed future plans to localize the assembly of several models of the Italian brand in Egypt.

RETAIL-

Mobile phone prices jumped locally by as much as 20% this week in response to a 50% rise in the cost of local production inputs. Vivo prices are up by 17%, Oppo is up 15%, and Samsung is up by 5%).

🌍 AROUND THE WORLD IN SEVEN DAYS-

It’s been a busy week in the global press, with a mixed bag of headlines dominating the digital front pages. In trade news, Indian Finance Minister Nirmala Sitharaman announced that India would cut tariffs on a number of capital goods needed to process critical minerals. The move will allow India to reduce its dependence on China, incentivize local manufacturing of rare earths, and lower costs for exporters hit by US trade policies. A few days later, US President Donald Trump announced a trade agreement with India to cut tariffs from 50% to 18%. India would halt Russian oil purchases and buy over USD 500 bn of US energy, technology, agriculture, coal, and other products.

Dominating the business press, Elon Musk set a record for the largest merger in history when SpaceX acquired xAI, valuing the entities at USD 1.25 tn. The transaction unified Musk’s AI and space ambitions to “form the most ambitious, vertically integrated innovation engine on (and off) Earth.” The merger comes as SpaceX plans an IPO that could value it at over USD 1.5 tn.

AND- It was a rocky week for precious metals. Monday saw a crash — gold and silver prices plunged, sending shockwaves through global stock markets. The precious metals bounced back on Wednesday after a sell-off triggered by Anthropic’s latest AI model for lawyers sent global software stocks crashing. The selloff — which wiped about USD 1 tn off software stocks over the week — then prompted another precious metal crash on Thursday, with silver plunging 17% and gold dipping 3.5%.

ALSO- The Washington Post laid off nearly one-third of its work force, effectively eliminating its sports section, book department, and scaling back on a slew of foreign bureaus and coverage desks.

CLOSER TO HOME- the Rafah border between Egypt and the Gaza strip was reopened to allow movement between both countries. 50 patients, each accompanied by a maximum of two relatives, would be allowed to exit the strip daily.

Two days later, Israeli strikes on Gaza killed 19 Palestinians on Wednesday — most of whom were women and children. The attack came in response to an alleged ceasefire violation by Hamas, with Israel pledging to continue its strikes.

☀️ THE WEATHER THIS WEEKEND-

Craving some warmth? We’ll be getting plenty of sun this weekend in Cairo. Today, temperatures are set to peak at 25°C before cooling down to 16°C. Tomorrow will be slightly warmer, with a high of 26°C and a low of 18°C, according to our favorite weather app.

🎤 HAPPENING THIS WEEKEND-

The Garden Market returns for your pre-Ramadan and Valentine’s shopping fix at East View Mall in New Cairo, running for two consecutive weekends. Expect a wide range of local brands and vendors — doors are open from 12pm to 11pm.

Catch Voices of the Century at The New Capital Opera House for a night of operatic arias and orchestral masterpieces tonight. Legendary Spanish operatic tenors José Carreras and Plácido Domingo alongside Greek Soprano Christina Poulitsi and Egypt’s very own Soprano Fatma Said will be taking to the stage for a special musical experience. The magical night concludes with an orchestra by Italian Maestro Francesco Ivan Ciampa. Tickets are available on Tazkarti.

Up for some pre-Ramadan shopping? Cairo Flea Market is hosting a special Ramadan edition at its new location Heliopolis’ Ghurnata Community Space tomorrow. Browse vintage finds, local treasures, and get an early dose of the Ramadan spirit before all the family gatherings kick off. Doors are open from 10am to 10pm.

🎤 HAPPENING NEXT WEEKEND-

A fan of animation art? Animatex, Egypt’s biggest animation event is coming to AUC Ewart Hall, taking place from Wednesday, 11 February to Sunday, 15 February. Now in its sixth year, the festival celebrates 90 years of Egyptian animation, screening 15 feature films and 200 short films selected from Arab and international submissions in the annual Animatex competition — plus a packed program of talks, workshops, and masterclasses. Tickets are available on Ticketsmarché.

Got a big appetite for Thai cuisine? The Thai Food Bazaar is back in Zamalek’s Al Horreya Garden this weekend and the next, with doors open from 12-8pm. Experience all the authentic flavors of Thailand including street food, cooking shows and live demos, and Thai drinks and sweet treats. Bring your friends and family and dig in.

Another live performance at the Grand Egyptian Museum? Count us in. This time, multi-platinum Canadian singer-songwriter Bryan Adams is taking over GEM nights on Friday, 13 February with a setlist of his biggest hits. Tickets are available on Tazkarti.

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