Good afternoon, friends, and Ramadan kareem. It seems the news cycle is taking a breather — and so should you. In today’s issue, we take a look at how Cairo’s immigrants are celebrating Ramadan, and dive into our first “mosalsal” review of the season.

🍽️ So, when do we eat? Maghrib prayers are at 5:47pm in the capital, and you’ll have until 5:03am tomorrow to hydrate and caffeinate ahead of fajr.

THE BIG STORY TODAY-

📍 Gov’t to launch “Citizen Bond” via Egypt Post this Sunday: The Finance Ministry will debut its first retail-focused “Citizen Bond” (Sanad El Mowaten) for individual investors this Sunday, Finance Minister Ahmed Kouchouk announced. The 18-month, fixed-income instrument will be sold exclusively through Egypt Post’s nationwide network — a partnership Chairperson Dalia El Baz says reflects “confidence in the Post’s operational capacity.”

The details: The bond is designed as a “secure savings and investment tool with a distinctive fixed monthly return,” Kouchouk said, and will offer a net periodic return of 16-18% after taxes, a senior government source told EnterpriseAM. The source further noted that this provides a “good monthly return of 3-4%,” adding that as inflation continues to retreat, “the real return will be higher in future issuances.”

THE BIG STORY ABROAD-

🌐 It’s a relatively quiet afternoon in the business press, with this morning’s headlines still making the rounds. Meta CEO Mark Zuckerberg denied that Facebook and Instagram allow children under 13 on their platforms — despite evidence that they are a key demographic — as he testified in a landmark social media trial on Wednesday.

AND- Federal Reserve officials are keeping interest rates steady. Minutes released from the January meeting note that interest rate cuts may be more difficult to achieve due to heightening inflation.

^^Read more on Reuters and CNBC.

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

  • FinMin is preparing to roll out a sweeping package of 49 tax and customs reforms designed to catalyze capital markets and drive both foreign direct investment and portfolio inflows;
  • Development Partners International finalized their USD 190 mn minority stake investment in Fahad Khater’s Alameda Healthcare, marking the largest private equity transaction in Egypt’s healthcare sector to date;
  • Egypt is making progress in shielding its infrastructure projects from USD volatility with a new USD 200 mn concessional loan from China Exim Bank — earmarked for phase three of the light rail transit system — to be disbursed in CNY.

☀️ TOMORROW’S WEATHER- It’s another cool day in the capital, with the mercury set to peak at a high of just 21°C, with a low of 11°C, according to our favorite weather app.

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