Good afternoon, friends, and welcome to the start of a fresh new workweek. As the weather begins to heat up, it seems the news cycle is cooling down. It’s a quiet day on the home front, and abroad, the Washington Post layoffs and BTC’s crash are still dominating headlines. Also in today’s issue: we look at how you can foster a better work-life balance and break down the latest season of Bridgerton.

THE BIG STORY ABROAD

🌐 Just days after the Washington Post laid off a third of its staff, its CEO Will Lewis stepped down. Lewis has faced criticism from both subscribers and employees after the controversial cut of the newspaper’s workforce. In a message to staff, Lewis explained that after making “difficult decisions” to ensure the paper’s future, it was the right time to leave. Lewis will be replaced by the paper’s CFO, Jeff D’Onofrio.

^^Read more on BBC and the New York Times.

After plunging close to USD 69k, BTC is set to drop even further as liquidity reduces and investor concerns remain fixated on inflated tech valuations. The record crash marks a fall of nearly half, wiping out all its gains since hitting a peak of USD 127k last October.

^^Read more on Reuters and the Financial Times.

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

  • The Madbouly government is preparing to bake EGP 250 bn in concessional financing into the upcoming state budget to support manufacturing, tourism, and exports. This marks an institutional shift, with the possibility of an industrial financing fund to house the initiatives;
  • Egyptian bank lending is projected to jump 25% in 2026. Loan growth is expected to accelerate, and return on equity is expected to normalize at 20% by 2026;
  • Egypt is no longer reliant on the equity-only venture model that defines much of the African tech landscape — securing over USD 595 mn in venture funding last year to rank third with a 15% share of the continent’s total funding.

enterprise

*** It’s Inside Industry day — your weekly Sunday briefing on all things industrial in Egypt. Inside Industry explores what it takes to turn Egypt into a manufacturing and export powerhouse, from initial investment and planning through 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 deep dive into Egypt’s booming automotive industry, the exciting developments in the works, and what the sector needs to go full throttle.

☀️TOMORROW’S WEATHER- We’re in for a particularly warm day in Cairo tomorrow, with the mercury set to peak at a sunny 28°C before cooling to 16°C, according to our favorite weather app.

Tags: