☀️ Good morning, friends, and happy long weekend. We’re keeping it simple today: a travel app guide to make sure your summer plans actually go smoothly, a new DC film that tries its best, a Cairo restaurant doing Egyptian comfort food properly, and a deep dive into a beloved online game that’s somehow still going strong nearly two decades later.
But first, your weekly recap…
🗞️ LAST WEEK IN 3 MINS-
ECONOMY-
The government and the IMF reached a staff-level agreement on the seventh review under our USD 8 bn Extended Fund Facility and the second review of our parallel Resilience and Sustainability Facility. Subject to approval by the IMF’s board, the agreement will unlock USD 1.5 bn under the EFF and some USD 136 mn under the RSF.
NBFI-
The FRA is putting a compliance gate around NBFIs’ branch expansion. The regulator amended its rules for registering, moving, and closing branches. The goal is to let compliant non-bank finance firms expand geographically while clamping down on firms with unresolved violations or sloppy reporting.
DEBT-
The government has issued USD 500 mn (JPY 80 bn) in sustainability Samurai bonds in Japan, backed by a partial credit guarantee from the African Development Bank. The bonds were placed privately on Monday in two tranches — roughly USD 350 mn over five years and USD 150 mn over 10 years — to a small number of qualified institutional investors.
PRIVATIZATION-
The first batch of temporarily listed government companies is expected to begin trading in 4Q this year. The process starts once the companies finalize their fair-value studies and appoint FRA-approved offering advisors. Four more state-owned companies will temporarily list on the EGX next month, with the remaining petroleum companies to follow once their paperwork clears.
ENERGY-
The petroleum sector returned to growth for the first time since 1Q 2023/24, expanding 0.7% in 3Q FY 2025/26 on higher domestic production of crude oil, condensates, and LPG. The government has moved on several fronts to reverse the decline, including repaying USD 6.1 bn in arrears to partners.
TELECOM-
The country’s four mobile operators will receive new frequencies starting next month under the USD 3.5 bn spectrum agreement signed earlier this year. Telecom Egypt, Vodafone Egypt, Orange Egypt, and e& Egypt will receive 410 MHz of additional spectrum. The allocation doubles the total spectrum allocated to local operators since the launch of mobile services three decades ago.
M&A-
French logistics group Africa Global Logistics submitted an indicative non-binding offer to acquire up to 100% of EGX-listed Egytrans Nosco — with a floor of 75%. At a provisional range of EGP 11.25-12.25 per share, the high end of the offer would value the company at EGP 2.76 bn, by our math.
🌍 AROUND THE WORLD IN SEVEN DAYS-

This week’s headlines were dominated by a US-Iran ceasefire that broke, then didn’t break, then sort-of broke again — alongside Comcast’s media-tech split, a Dow Jones milestone, and the lingering toll from Venezuela’s earthquakes and Europe’s heatwave. Here’s the rundown.
The fragile US-Iran truce nearly collapsed this week after Iran struck a Panama-flagged tanker and a container ship in the Strait of Hormuz, prompting US retaliatory strikes on Iranian missile, drone, and radar sites — the worst escalation since the interim agreement was reached two weeks prior.
US President Donald Trump warned on Truth Social that “the Islamic Republic of Iran will no longer exist” if strikes resumed, while Iran’s IRGC hit US military sites in Kuwait and Bahrain. By Monday, both sides had agreed to stand down again, with talks resuming over disputed interpretations of the 14-point MoU signed earlier this month — the second time in a fortnight the agreement has needed saving. US envoys Jared Kushner and Steve Witkoff reported positive talks with regional leaders in Qatar on Tuesday, even as Tehran threatened to boycott direct negotiations — insisting the ceasefire terms must be settled before any discussion of its nuclear program.
IN WASHINGTON- The US Supreme Court blocked Trump’s attempted removal of Federal Reserve governor Lisa Cook in a 5-4 ruling — though the Court ruled separately that Trump retains the power to fire members of other independent federal agencies. Separately, Trump's annual financial disclosure revealed at least USD 1.4 bn in crypto earnings for 2025 — including nearly USD 600 mn from World Liberty Financial, a crypto firm he co-founded with his sons and Witkoff.
IN THE BUSINESS PRESS- Comcast said it will spin off NBCUniversal and Sky into separate publicly traded companies, splitting its steadier broadband business from its media arm in a taxfree agreement expected to close within a year. Shares jumped more than 25% on the news.
MEANWHILE- The Dow Jones Industrial Average broke 52k for the first time, with Alphabet’s debut on the index — and a 4.8% share jump — leading the gains.
ALSO- Venezuela’s death toll from last week’s twin earthquakes has climbed past 1.5k, with search-and-rescue teams racing against narrowing odds five days on. And, Europe’s heatwave showed no sign of breaking, with over 130 mn Europeans facing temperatures above 35°C as the front pushed east toward Poland and central Europe.
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☀️ THE WEATHER THIS WEEKEND-
It’s going to be a particularly warm weekend, whether you’re staying in Cairo or heading up north. Today, the mercury is set to peak at 38°C, with a low of 23°C. Our friends up north will be in for relatively cooler conditions, with a high of 31°C and a low of 24°C. Tomorrow and Saturday will bring more of the same on the weather front, with highs of 37°C and lows of 24°C in Cairo, and highs of 32°C and lows of 24°C, according to our favorite weather app.
🎤 HAPPENING THIS WEEKEND-
Summer nights are officially getting their opening act, with Ruby taking the stage at O by Michel Fadel in Marassi tomorrow for the venue’s season opener. Expect a mix of fan favorites, high energy, and a performance worth rearranging your plans for. The show starts at 8pm — reservations can be made via the contact numbers listed in the venue’s Instagram bio.
Waiting for Egypt vs. Australia this Friday? Join fellow World Cup fans at Cocoon Fan Zone, taking over Cocoon Beach in Sidi Abdel Rahman tomorrow at 9pm. This is your chance to cheer Egypt on their Round of 32 clash, complete with a giant screen, live crowd reactions, chants, and a beachfront atmosphere. Secure your tickets to the fan zone on TicketsMarché.
🎤 HAPPENING NEXT WEEKEND-
Hesham Maged is back with another comedy project for your summer comedy fix, this time with his first-ever play, Khayal Mareed, at Theatro Arkan. Running everyday at 8pm from Tuesday, 7 July to Friday, 24 July, the interactive play stars Mohamed Abdel Rahman, Hanady Mehanna, Ahmed El Rafaie, Dina Diab, and more. You can secure your tickets on TicketsMarché.
Calling all comic aficionados: Alexandria’s international comic book festival Comixandria returns to the Jesuit Cultural Center from Thursday, 9 July, to Saturday, 11 July, running daily from 12-9pm. The program comes packed with exhibitions, talks, book signings, comic pop-ups, workshops, and a range of other activities, bringing together Egyptian and international comic artists, writers, and publishers. Entry is at no charge.


