Good afternoon, ladies and gents. It’s another busy day in our region and the workweek gains momentum ahead of another long weekend. In today’s issue: We talk to UN Women Representative Gielan Elmessiri on the reality of the situation in Lebanon, and we have an honest review of Something Very Bad Is Going to Happen, a Netflix series that will make you think twice before getting hitched.

THE BIG STORY TODAY-

📍 Egypt has agreed to purchase 3% of Libya’s monthly crude production at international prices, a government source tells EnterpriseAM. The move comes amid disrupted supplies from Gulf producers, pushing the government to adjust sourcing rather than rely on strained flows.

Barrels will be sourced from border areas on overland transport routes, cutting reliance on pricier maritime shipping and mitigating supply chain disruptions linked to the ongoing conflict, our source says.

^^ We’ll have more details in tomorrow’s edition of EnterpriseAM.

THE BIG STORY ABROAD-

🌐 The US-Iran conflict continues to dominate the news cycle amid mixed signals over a potential escalation or a long-awaited ceasefire. US President Donald Trump took to Truth Social yesterday to threaten Iran, issuing an ultimatum that the country would be a “living hell” if the Strait of Hormuz isn’t reopened on Tuesday. Still, Trump says there is a “good chance” an agreement could be reached today. Meanwhile, Iran rejects the threats and demands compensation before fully reopening the strait.

^^Read more on: Reuters, and CNBC.

Oil prices saw slight jumps this morning following Trump’s threats, with US crude briefly surpassing USD 114 per barrel. However, investors are shrugging off fears of escalation as oil prices slid again this afternoon. WTI fell 2% to near USD 110 per barrel, and Brent fell almost 1% to USD 108 per barrel at the time of publication.

^^Read more on: CNBC.

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

  • Egypt’s non-oil private sector saw its fastest deterioration in operating conditions since April 2024 in March, reflecting a sharp dip in output and new orders that saw both hit their lowest levels in nearly two years;
  • Funding for Egyptian startups came to an abrupt wartime halt in March, with only Egyptian-founded, US-based Hamilton Labs clocking in an undisclosed investment;
  • Instapay’s year-old 0.1% transaction fee hasn’t turned away customers as some had feared — but it has made the venture profitable. As usage continues to grow, the payment service has cemented its role as the bridge between formal bank accounts and the e-wallet ecosystem.

☀️ TOMORROW’S WEATHER- We’re in for a cool-but-sunny day in the capital tomorrow, with the mercury set to peak at just 24°C, with a low of 14°C, according to our favorite weather app.

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