Good morning, everyone. The regional security and economic landscape lurched yesterday as the US and Israel launched a sweeping attack on Iran and its leadership, prompting Iran to retaliate with drone and missile strikes on both Israel and Arab countries across the region.

What does this mean for us? From FX to tourism, the widening regional war has raised a lot of questions — we dive into them all in the news well, below.

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ENERGY — Italy’s Eni expects to reach a final investment decision on the Cronos gas field in Cyprus this year, according to Global Natural Resources COO Guido Brusco speaking in its 4Q 2025 earnings call. When operational, the natural gas will be transported via a 90km subsea pipeline directly to Eni's infrastructure in Egypt to be then liquefied in facilities in Damietta for re-export as LNG.

Starting production from the 3.1 tcf field in 2027 as planned is looking increasingly unlikely, according to industry publication Mees, which sees 2028 as the more likely outcome.

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Happening today

The Industry Ministry is offering around 1.3k fully serviced industrial plots to investors starting today, ranging in size from 118 sqm to 400k sqm, it said in a statement. The tender covers 9.8 mn square meters across 35 industrial zones in 23 governorates. Interested investors can apply exclusively via the Digital Industrial Egypt Platform until March 15, with allocation results expected by early April.

To channel land to serious investors and manage strong demand, the ministry has introduced a competitive pricing mechanism. Where multiple applicants meet the technical and financial criteria for the same plot, allocation will be determined by the highest bid above the base price per square meter — a tie-breaker system that signals a shift toward more market-driven pricing for prime industrial land.

News triggers

It’s the first week of March — here are the key news triggers to keep your eyes on this month:

  • Non-oil private sector activity to see recovery this month? The private sector awaits S&P Global’s Purchasing Managers’ Index report for February expected on Tuesday, after the index slipped back into red territory last month following a short-lived prior recovery in the two months prior.
  • The business community and policymakers will have their eyes on February’s inflation figures — expected on 10 March. The country’s last monthly reading showed annual headline urban inflation falling to 11.9%, despite an uptick in the prices of food and beverages. Analysts expect headline inflation to continue its downward path toward the central bank’s target range of 7% (±2%).

Data point

USD 6.3k — that’s where JPMorgan sees the price of an ounce of gold head by the end of 2026, as demand from central banks and investors drives the market, the investment bank said in a note to Reuters. It also lifted its long-term gold forecast to USD 4.5k per ounce.

PSA-

WEATHER- It’s still pretty cold in Cairo today, with a high of 17°C and a low of 10°C, according to our favorite weather app.

It’s similarly cold in Alexandria, with a high of 11°C and a low of 17°C.

The big story abroad

The killing of Iran’s leader Ali Khamenei is on every front page this morning after Iran confirmed the news hours after US President Donal Trump broke it. We have the details of the US-Israeli strikes that killed Khamenei as well as the Iranian response, plus what it all means for us here at home in the news well, below.

MEANWHILE IN BUSINESS NEWS- The escalating conflict between Anthropic and the US government made global headlines this weekend. After refusing tocooperate with the Pentagon in offering AI services, Anthropic has decided to challenge in court Washington’s decision to label the startup a security risk — a designation that bars it from government contracts. The company had raised alarms regarding the potential for the US government to leverage its AI tools — such as Claude — for mass surveillance and fully autonomous weaponry.

AND- Multinational conglomerate Berkshire Hathaway’s 4Q 2025 earnings made waves, as its net income flagged as ins. operations took a hit and a long-term investment in Occidental Petroleum was written down. The quarter marked Warren Buffet’s final tenure as CEO, a role now assumed by Greg Abel — Buffet has stayed on as Chairman. Abel assured shareholders that the firm will maintain Buffet’s investment philosophy and not shy away from dealmaking.

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