Two more test positive for hantavirus + oil prices jump following US-Iran stalemate

Good afternoon, friends, and welcome back. As the weather heats up, it seems the news cycle is remaining relatively cool.

In today’s issue, we’re taking a look at how a year-long community mapping campaign and some clever maneuvering secured a landmark ban on new restaurant and café licenses across four of Cairo’s historic neighborhoods. Also today: We tune into the 2026 Scrubs revival, list the footie on our radar tonight, and more.

Up first, the news…

THE BIG STORY ABROAD-

🌐 Still making headlines this afternoon is the US-Iran stalemate. Negotiations on proposals to end the war have stalled after Iran demanded an end to the blockade, compensation, and recognition of sovereignty over the Strait of Hormuz. In response, US President Donald Trump called Iran’s demands “totally unacceptable.”

^^Read more on: CNN, the Washington Post, and Reuters.

ALSO- Oil prices have jumped once again on the news, with pressure mounting on the US as energy prices continue to rise. At the time of publication, Brent crude — the international oil benchmark — rose by up to 3.6% to USD 103.8 / bbl.

^^Read more on: BBC, the Associated Press, and CNN.

MEANWHILE- Two more people have tested positive for the hantavirus after being evacuated from the MV Hondius — an American and a French national — as Spain prepares to evacuate and repatriate the remaining 24 passengers on the ship by the end of today.

^^Read more on: Reuters, BBC, and CNN.

Riyadh to Mumbai. Abu Dhabi to Singapore. Dubai to London. Cairo to Shenzhen.

The most important business stories in MENA aren’t happening inside MENA anymore — they’re happening at the edges, where regional capital meets global ambition.

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

• Apis Partners closed its third fund at USD 1.23 bn — more than double its predecessor. Existing LPs accounted for around half of the capital raised, while new backers include sovereigns, supranationals, banks, insurers, and pension funds;
• Beltone VC and Citadel offloaded Bosta stakes at 75% IRR — just as the logistics player eyes the EGX. Meanwhile, Bosta is reportedly preparing for a USD 170 mn IPO on the EGX later this year;
• NBE bought a 20% stake in Norwegian developer Scatec’s 1.1 GW Obelisk solar project in Nagaa Hammadi for an undisclosed sum. The transaction makes state-owned NBE a co-owner of the USD 600 mn solar-plus-storage plant, alongside Norwegian state-run investment fund Norfund and French state-owned EDF Power Solutions.

☀️ TOMORROW’S WEATHER- Get your water bottles and your ACs ready, because things are heating up in C-town. Tomorrow’s high goes up to a whopping 39°C, with a low of 20°C, according to our favorite weather app.