Trump warns Iran that “clock is ticking” as peace talks stall; oil prices rise

Good afternoon, ladies and gents, and welcome back. We hope your ACs are functioning and your lattes are ice-cold. The news cycle is picking up, and we’ve got the latest for you below. In today’s issue, we take a look at the merger between Egypt’s own Baraka Optics and regional giant Magrabi Retail. Also, we break down a romantic thriller that had us glued to our screens, dissect Arsenal’s path to the crown, and more.

First things first, the news…

THE BIG STORY ABROAD-

🌐 The US and Iran continue to make headlines as peace negotiations remain stalled. US President Donald Trump warned that the “clock is ticking,” writing on Truth Social that Tehran “better get moving, fast, or there won’t be anything left of them.” Iran said it had responded to the US proposal, as Pakistan continues to mediate its exchanges with Washington.

MEANWHILE- The latest drone attack on a UAE nuclear power plant drove oil prices up, with Brent jumping to USD 110 / bbl and WTI advancing to USD 107 / bbl at the time of publication.

^^Read more on: BBC, Bloomberg, and The Guardian.

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

• Energy solutions firm Korra Energi is looking to raise up to EGP 735 mn by going public. The listing will offer up 11% of the company — represented in 247.5 mn shares — at EGP 2.97 apiece to institutional investors starting today and to retail investors a day later;
• Raya Holding is edging toward closing the loop on a six-year-long Ostool divestment saga. The EGX-listed conglomerate lined up BoD approval to offload its 90% stake in Ostool Transport and Logistics to one of the subsidiaries of Qalaa Holdings’ EGX-listed industrial mining outfit Ascom Mining Group for EGP 641 mn;
• London-based startup Dealfuze is launching a MEA-focused venture discovery platform targeting capital allocation gaps. The algorithmic matching platform pairs MEA founders with international and GCC investors based on sector, stage, geography, and traction metrics.

☀️ TOMORROW’S WEATHER- It’s going to be another unpleasantly warm day in Cairo tomorrow, with the mercury set to peak at 36°C before dipping to a low of 20°C, according to our favorite weather app.