Good afternoon, ladies and gentlemen, and welcome back. It’s a relatively calm afternoon at home, but the same can’t be said for the global press. In today’s issue, we take a look at how you can successfully navigate a career switch, recommend your next Ramadan podcast, and list the footie fixtures we’ll be watching tonight.

So, when do we eat? Maghrib prayers are at 5:50pm in the capital, and you’ll have until 5:00am tomorrow to hydrate and caffeinate ahead of fajr.

THE BIG STORY TODAY-

📍 First insights into the new budget: Egypt’s draft FY 2026-27 budget is being finalized ahead of its March submission deadline and is set to anchor the next phase of economic reform by narrowing the deficit and boosting revenues while containing spending growth, government sources told EnterpriseAM.

Revenues are projected to exceed EGP 3.5 tn — driven mainly by higher tax and customs receipts expected to reach EGP 2.8 tn — supported by tax-base expansion, VAT amendments, and competitive-neutrality measures that previously generated EGP 68 bn for the treasury. The Finance Ministry is also targeting exceptional inflows from licenses and divestments while tightening oversight of special funds.

Spending growth will slow as energy subsidies are phased down — except for diesel and butane — alongside a gradual shift toward targeted monetary support, including higher allocations for Takaful and Karama. Officials are aiming for a deficit of 4.9%, down from 7.3% this year, though sources expect the final figure may come in slightly higher while remaining below current levels.

^^ Read more details on this story in tomorrow’s edition of EnterpriseAM.

THE BIG STORY ABROAD-

🌐 Three days after the Supreme Court declared US President Donald Trump’s tariffs illegal, the US Customs and Border Protection agency said it will stop collecting tariffs imposed under the International Emergency Economic Powers Act. European officials warned the tariff hike would put EU-US trade agreements from last year at risk. The European Commission — the trade policy negotiator for 27 EU member states — demanded that the White House give “full clarity” on the practical implications of the new tariff policy for their respective trade pacts. The UK currently faces trade-weighted tariffs that are 2.1% higher, while the EU sees a 0.8-point increase.

Tariff-imposed global uncertainty has led the USD to drop 0.3% against its peers in early Monday trading, while gold prices rose 0.6%. BTC dropped by as much as 5% to below USD 65k this morning. Tech stocks were the most affected, sliding 0.9% in sub-index tracking.

^^Read more on Reuters, the Financial Times, and CNBC here and here.

MEANWHILE- Following the killing of Mexican drug lord Nemesio Oseguara — aka El Mencho — in a military raid on Sunday, violent protests erupted across Mexico, with 250 blockades reported in 20 states. The White House revealed that the US provided intelligence support for the operation.

^^Read more on CNN and Reuters.

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

  • The gov’t is moving to offload the management, operation, and service efficiency upgrades of 62 healthcare projects to the private sector as it seeks to shift from state-led construction to private-led operation;
  • HSBC Egypt isn’t going anywhere, with the bank stating that it remains committed to Om El Donia for the long term even as it deliberates the fate of its retail business here;
  • The Parliament is moving to exempt healthcare facilities, universities, and research centers from nuclear regulatory fee hikes. This comes as Egypt advances the Dabaa nuclear power plant project.

⛅ TOMORROW’S WEATHER- We’re in for more of the same on the weather front in Cairo tomorrow, with a high of 20°C and a low of 10°C, according to our favorite weather app.

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