Good afternoon, friends, and congratulations on making it to the weekend. It’s a quiet afternoon on the home front as everyone stays indoors for the second day in a row. Meanwhile, in the global press, regional developments continue to lead the digital front pages. Also in today’s issue: We speak to Cuban-born, Cairo-based artist Maria Maher, break down Netflix’s latest thriller, and much more.

THE BIG STORY ABROAD-

🌐 It’s another busy afternoon in the global press, and fresh in the news cycle is the reported killing of Iranian naval commander Alireza Tangsiri by the Israeli military in an overnight attack. Tangsiri was the commander of the Islamic Revolutionary Guards Corps Navy and played a pivotal role as overseer of the blockade of the Strait of Hormuz. Iran has not yet commented on the commander’s status.

^^Read more on: BBC and The New York Times.

AND- The US and Iran talks are still making headlines, with US President Donald Trump urging Iran to “get serious soon, before it’s too late” while claiming that Iran was desperate for an agreement to end the war almost four weeks ago. Iran says it is reviewing Trump’s proposal, denying any direct peace talks with Washington.

MEANWHILE- G7 ministers warn that the US-Israeli war with Iran is a “catastrophe” for the global economy ahead of the key summit happening today and tomorrow in France. European leaders are expected to urge the US to de-escalate the conflict in Iran. The OECD forecasts a 4.2% jump in US inflation fueled by the ongoing war, with other countries like China, South Korea, and India also facing a sharp energy price spike.

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

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

  • A new incentive scheme will offer tiered corporate income tax reductions over three years to companies that list on the EGX. Under the plan, newly listed companies will receive a 30% reduction on payable corporate income tax in their first year, followed by 20% in the second and 10% in the third;
  • Flight ticket prices have already started rising, but the real shock may yet to come, as some airlines are warning that jet fuel reserves at some airports could run out in a matter of weeks;
  • CIS Gaz, Aten Petroleum, and Terra Petroleum will explore and produce gas in an Eastern Desert block under the new energy investment model adopted by the Madbouly government.

☀️ TOMORROW’S WEATHER- The weather will be clearing up in the capital tomorrow, with stable conditions and a high of 21°C and a low of 13°C, according to our favorite weather app.

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