Good afternoon, ladies and gentlemen, and welcome back. It’s another hectic afternoon in the press as the situation in the region continues to escalate. We’ve got the rundown for you below.

PSA: Our website is still down. EnterpriseAM.com is one of the many, many services hosted on Amazon Web Services out of the UAE. The data center that hosts our site — and the apps and websites of dozens of other brands you know — was damaged after “objects hit” it, reportedly starting a fire and leading to a power outage. Our site has been down since mid-afternoon on Sunday and we're yet to hear from Amazon when we can expect it to be back up.

THE BIG STORY TODAY-

📍 EGP nears 50/USD amid FX pressures: The EGP weakened toward the EGP 50 per USD mark in Monday’s trading — its lowest level in about 10 months — as foreign investors exit and rising demand for FX to finance accelerated imports of strategic commodities put fresh pressure on the currency.

Bankers told EnterpriseAM that the exchange rate could soon test levels above EGP 50 if regional tensions persist, though officials say allowing the currency to move flexibly should help attract inflows, finance outflows, and prevent broader imbalances.

Authorities stress that reserves remain secure and that the Central Bank of Egypt is closely monitoring developments, with emergency policy measures — including a potential rate hike — on the table if conditions deteriorate, even as policymakers emphasize that a return of the black market will not be tolerated.

^^ We’ll have more on this story and other angles on the unfolding regional conflict in tomorrow’s edition of EnterpriseAM.

THE BIG STORY ABROAD-

🌐 Oil prices are dominating the digital front pages this afternoon as they continue to soar amid the ongoing US-Iran war. As shipping through the Strait of Hormuz comes to a halt, Brent crude prices jumped 10% to USD 79.9 a barrel — rallying as much as 13% to USD 82 intra-day — while US crude rose 8.2% to USD 72.6 a barrel as of the time of publication. Gold jumped 2.6% to USD 5.4k per ounce, while the USD and CHF both strengthened. Meanwhile, stocks in Europe took a hit, with the pan-European Stoxx 600 down nearly 2% as European gas prices climbed 24%.

^^Read more on: Bloomberg, the Financial Times, Reuters, the Wall Street Journal, and CNBC here and here.

Following Iran’s strikes across the Gulf, the region is facing widespread business disruption as airports in Dubai and Doha remain closed and major airlines halt operations, causing major losses. Asian and European airline stocks were in the red by as much as 8% in one of the sharpest aviation shocks in recent years.

^^Read more on: CNBC and Reuters here and here.

Also in today’s issue: We tell you what you need to know before hitting the gym for your pre-iftar workout, and take a look at what work-life balance means for working moms.

So, when do we eat? Maghrib prayers are at 5:55pm in the capital, and you’ll have until 4:53am tomorrow to hydrate and caffeinate ahead of fajr.

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

  • The EGP slid 1.7% against the greenback yesterday as banks opened to execute exit orders that saw the EGP slip to nearly 49 against the USD. Outflows kept up the pace, as none of the US, Israel, or Iran showed signs they would be putting down their weapons anytime soon;
  • The gov’t is weighing the transfer of seven state-owned companies to the Sovereign Fund of Egypt, including Egypt Aluminum, Misr Fertilizers Production Company, Abu Qir Fertilizers, CID Pharma, Zahraa Maadi for Investment and Development, and Heliopolis Housing;
  • Interest payments on public debt jumped 40.9% y-o-y in 7M FY 2025-26, reaching EGP 1.5 tn, as high interest rates and a large debt stock continued to drive servicing costs.

☀️ TOMORROW’S WEATHER- It’s going to be another cool day in the capital, with the mercury set to peak at a high of 20°C, with a low of 10°C, according to our favorite weather app.

Tags: