Trump declares “economic D-Day” on countries aiding Tehran

Good afternoon, folks, and happy Thursday. Have you checked how many SIM cards are registered under your national ID lately? Today we break down Egypt’s SIM fraud crackdown — what’s actually happening, what it means for your digital identity, and what to do if you find a number you don’t recognize. We also have a Netflix documentary that Egyptian viewers will find immediately familiar — and a packed football weekend ahead, starting tonight with Mo Salah’s Europa League debut for Trabzonspor.

First up, the news…

THE BIG STORY ABROAD-

🌐 It’s another afternoon with no substantial updates on the US-Iran front. US President Donald Trump is doubling down on his new strategy to choke Iran economically, threatening any country that does business with Tehran: “This will be an economic D-Day,” Trump said on Truth Social. On the back of this, oil prices remain on an upward trajectory, with Brent at USD 93.8 / bbl and WTI at USD 88 / bbl at the time of publication.

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

MEANWHILE- A host of Russian strikes on Kyiv left 15 dead and scores injured as Ukraine continues to grapple with a shortage of air defense missiles. Apartment blocks, warehouses, a school, and a children’s hospital were struck overnight. Ukrainian President Volodymyr Zelenskyy has been petitioning allies for more air defense systems over the past few weeks as the country finds itself helpless against a barrage of continuous aerial strikes.

^^Read more on: Financial Times, The Guardian, and BBC.

IN THE BUSINESS PRESS- Evergrande founder Hui Ka Yan — once one of the richest men in Asia — was sentenced to life by a Chinese court earlier today on charges including misuse of funds, fraud, and bribery. The decision marks the end of a chapter in the long-standing case of former Chinese property development company Evergrande, which collapsed with more than USD 300 bn in liabilities following a 2020 crackdown.

^^Read more on: Financial Times and Reuters.

Decoding AI with Tarek Assaad: Past the doom and gloom, what the heck is actually going on with AI?

On this episode of Making It, Tarek Assaad, managing partner at Algebra Ventures, joins Patrick to decode the latest in AI.

This is an episode for both the novice and the pro, about what we should make of the recent technological breakthroughs, and what we’re yet to find out.

Listen to the episode on: Apple Podcasts | Spotify | Anghami | YouTube

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

• The country’s economy is proving more resilient than expected in the face of the US-Iran conflict, prompting the Central Bank of Egypt (CBE) to slightly raise its growth forecasts and lower its near-term inflation projections. The CBE now sees real GDP growth at 5% in FY 2025/26 and 4.9% in FY 2026/27, up 0.1 percentage points from its previous forecasts for both years. Growth is then expected to accelerate to 5.4% in FY 2027/28;
• The Financial Regulatory Authority issued a new rulebook for short selling, five months after the regulator first laid out the rules in March. Brokerages already approved for short selling get one month from the decision’s effective date to have the tech ready. The decision will be published within days and is set to take effect the day after;
• The government is raising prices for plots allocated to investors while expanding payment and tenure options to include ownership, usufruct, and lease-to-own. The increases shown in the new tariff table are generally lower than the 10-250% hikes approved last September, while reduced pricing remains in place for unserviced plots and areas targeted for industrial investment;
• Saudi-Egyptian company Techno Bond signed a contract with Main Development Company (MDC) to build an industrial complex for aluminum cladding panels and aluminum coils in the Sokhna Industrial Zone. The project will be built on a 25k sqm site within MDC’s development area, with USD 18 mn in initial investment and a total target of USD 50 mn. The first phase is expected to begin operation by the end of 2027.

☀️ TOMORROW’S WEATHER- Cairo is gearing up for a toasty weekend, with temperatures hitting 36°C tomorrow before dipping to a breezy 24°C overnight. Up on the North Coast, things look a little more forgiving, with a high of 31°C and a low of 23°C, according to our favorite weather app.