Good afternoon, friends, and happy almost-weekend. Tonight, Al Ahly face Barcelona at Camp Nou — the first Egyptian club ever invited to the Joan Gamper Trophy and the first fixture at the newly reopened stadium. We’ll be watching. Before then: a look at the economy behind every match night — the cafés, the delivery apps, the mall fan zones, and why a World Cup fixture can generate in a few hours what a downtown café earns in a week. That and more.
First up, the news…
THE BIG STORY ABROAD-
🌐 The latest on the US-Iran front is getting plenty of ink: US President Donald Trump is pulling the plug on negotiations with Iran. Trump has reportedly instructed senior administration envoys to halt talks with Tehran, as the White House shifts from its earlier push to “hammer Iran ASAP” toward a longer-term strategy aimed at “strangling” the country economically. Trump also walked back his repeated claims that negotiations were progressing, saying there are now “no talks or conversations” underway or scheduled with Iran. He reiterated on Truth Social that the US naval blockade remains in place and claimed the Strait of Hormuz is “open and operating,” with all mines removed or detonated.
This contradicts the current state of marine passage in the strait, as the UAE suspends all trade, commercial exchanges, and financial transactions with Iran until further notice, in response to what Abu Dhabi said were two ballistic missiles launched from Iran and aimed at maritime traffic. Both missiles fell into the sea, according to the UAE. Tehran has rejected the accusation, with Iranian Foreign Ministry spokesperson Esmaeil Baghaei calling the UAE’s statement “baseless.”
^^Read more on: CNN and Reuters.
MEANWHILE- Washington and Seoul have agreed to shorten their annual Ulchi Freedom Shield exercise from 11 days to five and reduce the scope of some joint field training. The decision comes days after Trump ordered the Pentagon to “substantially reduce” the drills, citing their cost and his relationship with North Korea’s Kim Jong Un. South Korean officials said the announcement came without prior consultation.
^^Read more on: CNN, BBC, Reuters, Associated Press, and The Guardian.
IN THE BUSINESS PRESS- China’s humanoid robot boom is having a moment. Shares of Unitree, the world’s largest humanoid robot maker by sales, surged more than 600% in its Shanghai trading debut today, putting the company firmly in the spotlight as a poster child for China’s robotics push. Unitree raised CNY 6.1 bn (USD 905 mn) in its IPO, which was oversubscribed more than 8k times, a record for Shanghai’s tech-focused STAR Market.
^^Read more on: Reuters, The Financial Times, Associated Press, and CNN.

The EnterpriseAM Egypt Forum is back — and we’re devoting the full day to the singular set of questions on everyone’s mind: What does AI actually mean for your company, your people, your economy, your own job — and your kids’ future?
Every session on stage answers one question: “So, what do I actually do about it?”
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** CATCH UP QUICK on the top stories from today’s EnterpriseAM:
- Hassan Abdalla will lead the Central Bank of Egypt (CBE) for a fifth consecutive year. President Abdel Fattah El Sisi issued a presidential decree renewing Abdalla’s assignment as acting CBE governor for one year, effective from 18 August 2026 to 17 August 2027. Abdalla first took office on 18 August 2022; his assignment has been renewed annually since;
- The government is looking into adding at least two reactors to El Dabaa nuclear power plant, with expansion potentially reaching four additional units. The government will discuss the proposed expansion with Russian state-owned Rosatom over the first two proposed units, though no final investment decision, cost, or timeline has been announced;
- Egypt’s auto market grew 3.3% m-o-m in June, but passenger cars barely moved — buses did the heavy lifting. Passenger cars — still 71% of volume — edged up just 0.7% m-o-m to 12.4k units, while trucks slipped 0.5% to 3.1k. Total sales are up 6.4% y-o-y, buses have more than doubled (+105.7%), and trucks are up 10.6% — even as passenger cars posted a 2.3% y-o-y decline;
- Egyptian companies are lining up for Syria’s reconstruction, and the first test comes within weeks. Trade bodies and chamber sources tell us they expect a strong Egyptian showing at the country’s two biggest business events of the year — the Damascus International Fair, opening later this month, and the Syria Reconstruction Conference on 13-16 September. Interest spans iron and steel, textiles, woodworking, metallurgy, food, and export firms.
☀️ TOMORROW’S WEATHER- The heat returns to the Cairene streets tomorrow, with highs hitting 36°C and a breezy low of 24°C. Meanwhile, the North Coast enjoys a sunny, albeit humid, day tomorrow, with highs of 31°C and a low of 23°C, according to our favorite weather app.




