Peace agreement “not imminent” despite US and Iran resolving several issues

☀️ Good afternoon, folks, and congratulations on making it to the Eid break. Things remain cool and calm in C-town today, and we've got the latest for you below. On the table today is a closer look at AI's emergence in healthcare, a review of Netflix's latest limited series from the creators of Stranger Things, and a deep dive into all the footie we'll be watching over Eid.

**A QUICK PROGRAMMING NOTE- EnterprisePM will be joining the rest of you in taking time off for Eid El Adha. We will be back in your inboxes next Monday afternoon at the same time.

Without further ado, the news…

THE BIG STORY ABROAD-

🌐 It's a relatively calm afternoon in the global press, with more of the same headlines still dominating the front pages. Iran’s Foreign Ministry spokesman Esmail Baqai has stated that while the US and Iran have reached a conclusion on several of the issues under discussion in relation to their peace agreement, the final signing of the agreement is “not imminent”. Meanwhile, US Secretary of State Marco Rubio noted that the US remains committed to exhausting all diplomatic avenues before pivoting to “alternatives.” Oil prices slipped to multi-week lows on the back of growing optimism regarding a potential US-Iran breakthrough.

^^Read more on: BBC, Reuters, AP News, and The Guardian.

IN TECH NEWS- Could Apple finally be ready to deliver on AI promises? The Silicon Valley giant has reportedly registered a new subdomain — genai.apple.com — ahead of the upcoming WWDC kicking off on 8 June, according to Apple news aggregator MacRumors. Apple’s flagship annual event should see the iPhone-maker introduce iOS, iPadOS, and macOS 27, alongside a smarter, AI-powered Siri.

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

• KPMG is considering restructuring operations in Egypt, in a move that could end its 41-year partnership with local affiliate Hazem Hassan. The potential split is part of a broader global restructuring at the Dutch-headquartered accounting and advisory network;
• Korra Energi’s private placement was 5.7x covered by the close of its subscription window yesterday, with investors placing orders for 845 mn shares against 148.5 mn shares on offer;
• Egypt’s consumer finance federation and member companies have not responded publicly to backlash over the expansion of consumer lending, BNPL services, and installment-based financing after CIB CEO Hisham Ezz Al-Arab warned that customers shut out of bank financing are turning to non-bank lenders at elevated borrowing costs despite weak repayment capacity.

☀️ TOMORROW’S WEATHER- We’re in for another sunny day in Cairo tomorrow, with a high of 30°C, and a low of 19°C. Up north, expect a breezy high of just 24°C, with a low of 18°C, according to our favorite weather app.