Regional tensions flare up as China prepares to ship 400 air-defense launchers to Tehran

Good afternoon, friends, and happy almost-weekend to you all. We’re close to the finish line, and today’s issue has enough to keep you busy until you get there.

We’re opening with a story that’s been building inside Egypt’s film and drama industry — public performance rights, a concept that’s been gathering dust inside intellectual property law for two decades, has suddenly become the center of an argument between artists’ unions and producers. Both sides have a point; neither is entirely right.

Elsewhere in today’s issue: Maria Ressa’s Nobel-winning memoir on fighting disinformation in the Philippines turns out to be essential reading for anyone who works in media, policy, or just wants to understand how platforms became weapons — we have the review. The Sharmoofers are headed to the North Coast, which is good news for anyone still building their Sahel calendar. And last night, Egypt’s women’s national team had a difficult WAFCON opener against Zambia.

First things first, the news…

THE BIG STORY ABROAD-

🌐 It’s a packed afternoon on the newsfronts as the US and Iran move to break the relative peace that’s been dominating their conflict for the last four days. Following an “attempted surprise attack” by Iran on US military bases in the region, specifically Jordan, that the US reportedly thwarted, the US and Saudi Arabia joined forces to conduct a joint strike on Iran-linked “logistics and weapons sites” in Iraq. The joint operation killed at least 20 people and left 32 wounded.

Meanwhile, Iran is expected to receive its first shipment of up to 400 Chinese-made, shoulder-fired air-defense missile launchers within weeks, according to Reuters, as Tehran moves to rebuild its defenses amid its ongoing war with the US. The reported agreement, worth an estimated USD 60-70 mn, would mark one of Iran’s largest known efforts to bolster its short-range air defenses since the conflict began.

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

Turning to Asia- Following a magnitude 7.1 earthquake that struck southwestern Japan, at least 18 people, including one foreign national, were killed and another 62 injured, according to local authorities. The quake hit the Kumamoto area on Kyushu, Japan’s southernmost main island, with the death toll expected to rise further. Soldiers and emergency workers are now combing through a badly damaged shopping mall and collapsed homes in search of survivors who may still be trapped beneath the rubble.

^^Read more on: Associated Press, The Guardian, and CNN.

IN TECH NEWS- It appears that Hugging Face wasn’t the only company ChatGPT infiltrated, after OpenAI had disclosed earlier that some of its AI models managed to autonomously break out of a controlled test environment. According to a Modal Labs executive, the AI also compromised one of the New York-based company’s customers during its days-long hacking spree. OpenAI has now confirmed that the incident was broader than initially understood, saying the agent accessed several “publicly available services” after discovering four exposed logins that opened the door to four separate, unnamed systems.

^^Read more on: BBC and Reuters.

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

• Eni took a final investment decision on the Cronos gas development offshore Cyprus, targeting first gas to market in 2028, to be routed, processed, and liquefied through Egypt. Cypriot President Nikos Christodoulides approved the field’s development and production plan, along with its commercial framework, in May;
• As the EGP grows more responsive to capital flows and geopolitical shocks, economists tell EnterpriseAM that recent movements remain a feature of Egypt’s flexible exchange-rate regime rather than a threat to financial stability. The open question is where policymakers draw the line between healthy flexibility and excessive volatility, and whether Egypt’s export ambitions require a weaker EGP or simply a more predictable one;
• Alexandria Container and Cargo Handling Company will introduce four new container charges and raise a fifth starting 1 September. The new charges cover full export container entry (USD 15-20), empty container handling (USD 10-20), container retention in the inspection yard (USD 10-20), and container movement for weighing (USD 30-60);
• Real estate developer SODIC reported a 201% y-o-y increase in gross contracted sales to EGP 23.5 bn during the first half of 2026. Revenue rose 25% y-o-y to EGP 6 bn — led by deliveries at its West Cairo projects, with the VYE development alone accounting for 41% of delivered value — while net cash collections increased 18% to EGP 10.2 bn.

☀️ TOMORROW’S WEATHER- The Cairene heat is here to stay for another day. Expect a high of 39°C tomorrow, with the mercury barely dropping below 26°C overnight. The North Coast remains the better wager for anyone trying to escape the heat, topping out at 33°C with a low of 24°C, according to our favorite weather app.