☀️ Top of the morning to ya, folks. It’s been an intense week, but we have a few ideas for how you can wind down and take a breather as the (tenuous?) two-week ceasefire between the US and Iran continues.

This long weekend, we’ll be getting our fair share of R&R… and a lot of food. Aside from trying one of Maadi’s hottest new pizza havens, we’re listing our favorite restaurants and cafés across Cairo where you can soak up the sun and take in the breeze. If you’re hitting the cinema, we’ve got you covered with two theatrical releases worth your time. All that and much more…

… but first, our weekly recap.

🗞️ LAST WEEK IN 3 MINS-

EGX WATCH-

The ceasefire is already being felt in the markets, with the EGX30 up 4.1% by the end of Wednesday’s trading, outperforming regional peers. The EGP also gained around 2.5% on the greenback by the time bank tellers shut up shop for the day on Wednesday. Thursday saw the benchmark index rise an additional 1.0%.

ECONOMY-

#1- Egypt’s annual urban inflation accelerated for a second consecutive month to 15.2% in March, up from 13.4% in February, as regional conflict, higher energy prices, and a weaker EGP drove broad-based cost pressures. Monthly inflation rose to 3.2%, according to Capmas.

#2- Moody’s Ratings affirmed Egypt’s Caa1 debt rating while maintaining the positive outlook it has held since March 2024, signaling that recent economic reforms are holding steady despite extreme pressure from the conflict in the region.

#3- 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 them both hit their lowest levels in nearly two years.

#4- The gov’t expects its financing gap to shrink to EGP 2.7 tn in the upcoming FY 2026-27 budget, down from EGP 3.6 tn in the current fiscal year.

#5- Egypt is a “triple deficit” economy, “combining fiscal, current account, and energy deficits,” which leaves it highly exposed to the fallout from the war in the region, according to the latest Allianz Economic Outlook 2026-27.

M&A WATCH-

We may soon see a bank-led rush on the country’s finance sector, as the Central Bank of Egypt expands the list of companies in the sector that are exempt from a previous 40% cap on how much equity banks can own.

PRIVATIZATION WATCH-

The government submitted listing documentation for five state-owned firms to the EGX. The proposed listings include a 30-40% stake in El Nahda Industries and an expected stake of up to 20% in Egyptian Ferroalloys Company, alongside stakes in El Nasr Glass, El Nasr Mining, and Alexandria Co. for Refractories.

AND- The EGX is set to receive listing applications for six additional state-owned enterprises next week, a government source told EnterpriseAM, including Midar for Investment, Misr Reinforced Concrete, and Maadi Development and Reconstruction, along with two subsidiaries of the Holding Company for Tourism.

FINTECH-

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.

ENERGY-

#1- The gov’t agreed to purchase 3% of Libya’s monthly oil output at international prices, with Libya agreeing to flexible payment terms, covering between 1-1.2 mn barrels per month.

LOGISTICS-

#1- The Egyptian Customs Authority rolled out its fully automated export system this week at Ain Sokhna port, with plans to gradually expand across all ports.

#2- The Transport Ministry is offering around 1.9k feddans of land for logistics zones across Sinai along the strategic Arish–Taba corridor in Al Hasana, Baghdad, and Rafah.

🌍 AROUND THE WORLD IN SEVEN DAYS-

This week’s headlines were shaped by escalating tensions between the US and Iran. On Sunday, US President Donald Trump threatened Iran with “hell” if the strait wasn’t reopened in 48 hours. Amid the collateral global oil supply crisis, Opec+ agreed to raise output by 260K bbl / d for May. On Monday, Trump threatened to destroy Iran’s power infrastructure the next day, rejecting Iran’s 45-day ceasefire proposal. By Tuesday, he doubled down on his threats, warning that “a whole civilization will die.” Oil prices surged amid the stagnant ceasefire talks and continued attacks across the Gulf.

Right before the deadline, the two countries settled on a two-week ceasefire subject to a “complete, immediate, and safe” re-opening of the Strait of Hormuz. Relieved market reactions followed, as oil prices plunged on Wednesday. However, an attack on Saudi Arabia’s East-West oil pipeline Wednesday afternoon and a barrage of Israeli missiles on Beirut yesterday threatened to unravel the agreement, leading Tehran’s lead negotiator to label any continued negotiations as “unreasonable.”

IN THE BUSINESS PRESS- Pershing Square Capital founder Bill Ackman offered to buy Universal Music Group last Tuesday in a hybrid tender and stock agreement to value the world’s largest music company at about USD 64.4 bn. Meanwhile, in the world of AI, Tech giant Meta debuted its first new LLM model — Muse Spark — since CEO Mark Zuckerberg launched a multi-bn-USD drive to bring on fresh AI talent.

AND- In the feud between Anthropic and the Pentagon, a DC federal appeals court declined to obstruct the national security blacklisting of the AI ‌company. The move could block contractors who work with the Pentagon from using AI models by the startup. A separate appeals court had issued the opposite ruling in late March.

☀️ THE WEATHER THIS WEEKEND-

You might want to take some time this weekend to bring out your summerwear, seeing as we’ll be in for a few warm and sunny days. Temperatures today are set to peak at 27°C, with a low of 15°C. Over the coming days, expect highs of 26-28°C and lows of 15-17°C, according to our favorite weather app.

🎤 HAPPENING THIS WEEKEND-

Comedian crew The Goats are back with a second serving of their standup show happening tonight at Theatro Arkan. Hot off the success of a sold-out show last month, the group is back with a guest star: Ahmed Bahaa. Doors open at 7pm — you can get your tickets on Ticketsmarché.

Famed Nigerian singer Burna Boy is landing in Egypt tomorrow at El Gouna’s Festival Plaza. The singer will be bringing his chart-topping Afro-fusion music to the stage. You can book your tickets on Ticket Egypt.

🎤 HAPPENING NEXT WEEK-

Are you a Sokhna regular on weekends? The Backyard Festival launches Sunday, 12 April at Ain El Sokhna’s Azha, featuring live performances by pop icon Tamer Hosny and Moroccan-American rapper French Montana. The show starts at 6pm — grab your tickets now on Ticketsmarché.

Up for an immersive writing retreat? Diwan Bookstore and Ardi Holistic Wellness Center teamed up to launch a series of residential workshops, kicking off with Based on True Events, a memoir writing retreat with Palestinian-Egyptian writer Mai Serhan, author of I Can Imagine It for Us.

The three-day retreat runs from Thursday, 16 April to Saturday, 18 April in Dahshur, and focuses on crafting personal narratives while navigating the ethical considerations of writing about real-life experiences. Spots are limited — book yours through Diwan’s website.

The iconic Tul8te is making his Alexandria debut at Al Ittihad Alexandria Club on Friday, 17 April. The live show promises a lineup of the singer’s fan-favorite hits, alongside new music. The night starts at 6pm — grab your tickets on Ticketsmarché before they sell out.

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