Good afternoon, friends. It’s another relatively quiet day in the press. In much-welcome news, we might be looking at no electricity price hikes at home any time soon. In the business press, all eyes are on Japan’s markets as PM Takaichi’s victory sends stocks soaring. Also today: We analyze BTC’s sudden crash and get to know a musical icon.

THE BIG STORY TODAY

📍A spot of good news: You won’t be seeing a hike in your electricity bill for a few months. Electricity prices will hold until at least the end of the current fiscal year in June, a senior government source told EnterpriseAM. The move comes as the Madbouly government prioritizes price stability and cooling inflation over immediate fiscal cost recovery, our sources tell us. While the Electricity Ministry has finalized several scenarios for a hike to address a 40% jump in fuel consumption and mounting debts to EGPC, the state is currently absorbing the gap through a beefed-up EGP 75 bn subsidy bill.

^^ Read more on this story in our EnterpriseAM edition tomorrow morning.

THE BIG STORY ABROAD

🌐 Japanese stocks reached record highs following Prime Minister Sanae Takaichi’s overwhelming victory in snap elections as investors pin their hopes on her promise to drive corporate investment in key tech sectors. The Nikkei 225 benchmark jumped 5.7% this morning, surpassing the 57k mark for the first time ever. Gold also jumped above the USD 5k mark, with silver and platinum also seeing gains. BTC traded at just below USD 70k.

^^Read more on the Financial Times and Bloomberg here and here.

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

  • The government is set to announce the completion of the sale of the 580 MW Gabal El Zeit wind power complex to the UAE-based Alcazar Energy. The transaction, a cornerstone of Egypt’s state privatization program, is expected to close at a valuation exceeding USD 420 mn;
  • The newly launched Egypt Startup Charter sets out a plan to de-risk the ecosystem, targeting USD 5 bn in fresh VC inflows by 2031. The roadmap aims to enable 5k startups and cultivate five unicorns over the next five years, and will involve a USD 1 bn unified financing initiative to achieve the VC inflows target;
  • The real estate market debate continues over supply and demand dynamics heading into 2026, split between major developers who have so far been able to sustain strong sales and protect their margins and a secondary market where property owners are finding it difficult to exit.

☀️ TOMORROW’S WEATHER- Enjoying the warm weather? It’s not going anywhere just yet. Temperatures are set to peak at 27°C before cooling down to 16°C in Cairo tomorrow, according to our favorite weather app.

Tags: