Good afternoon, friends, and happy almost-weekend. It’s another slow day in the press, and we’ve got the rundown for you below. Also in today’s issue: we explore Egypt’s domestic footwear sector and recommend your next read.

So, when do we eat? Maghrib prayers are at 5:51pm in the capital, and you’ll have until 4:58am tomorrow to hydrate and caffeinate ahead of fajr.

THE BIG STORY TODAY-

📍 Egypt is eyeing a return to the EUR-denominated bond market for the first time in eight years, with the Finance Ministry weighing a EUR 1 bn issuance in 2Q 2026, two senior government sources told EnterpriseAM.

Working with potential lead managers including BNP Paribas and Deutsche Bank, Bank of Alexandria (Intesa Sanpaolo), and Standard Chartered, the ministry views EUR markets as a “more stable” alternative for its gradual re-entry into international debt markets, which also includes plans for a separate USD 2-2.5 bn offering by mid-year.

The move is designed to refinance upcoming maturities — including a EUR 1 bn bond due this April — and capitalize on a sharp drop in Egypt’s CDS risk premiums, which hit a six-year low in January following a perfect track record of debt service and a surge in foreign holdings to USD 45 bn by end-2025.

^^ Read the full story and more details in tomorrow’s edition of EnterpriseAM.

THE BIG STORY ABROAD-

🌐 Still dominating the headlines this afternoon is US President Donald Trump’s State of the Union address — his longest speech on record, surpassing the 100-minute mark (watch,runtime: 1:58:18). The speech brushed off concerns over the US economy, with Trump noting that the “roaring economy is roaring like never before.” The president doubled down on his tariff policy and claimed that he had slowed inflation and driven the stock market to record heights. He failed to mention foreign policy or cost-of-living concerns, instead calling out Iran’s nuclear ambitions and making his case for possible US military action against the country.

^^Read more on Bloomberg, Reuters, and the Financial Times.

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

  • The Finance Ministry is looking to issue its newly debuted Citizen Bonds on a monthly basis. Each new issuance will feature a variable interest rate determined by market conditions at the time of offering;
  • Islamic Cairo may soon welcome new private investors, as the government prepares to offer a selection of restored heritage sites under public-private partnership schemes;
  • CIB is set to begin due diligence on HSBC Egypt’s retail banking portfolio. It’s the first formal confirmation that a process which could see HSBC divest its retail franchise here has moved beyond the exploratory phase.

🌤️ TOMORROW’S WEATHER- We’re in for another cool, breezy day in Cairo, with a high of 21°C and a low of 11°C, according to our favorite weather app.

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