US to reveal ‘Economic D-Day’ sanctions against Tehran this evening

Good afternoon, ladies and gents, and happy Monday — before you know it, we’re already halfway through the week, with a long weekend in sight. Today, we speak with a 22-year-old founder who, through his platform, answers this question: as AI handles more of the execution, how do young people actually learn to think and build?

Elsewhere in today’s issue: We tune in to a Shahid original series that sounds like exactly the kind of thing you’d watch in one sitting and everything from last night’s football — including Salah.

Without further ado, the news…

THE BIG STORY ABROAD-

🌐 One development is leading the digital front pages this afternoon: an update on the US-Iran conflict arises once again, while oil prices fall as warnings of an “economic D-Day” loom. Pakistan’s army chief visited Tehran earlier today on a mediation mission as Washington prepares to unveil what US Treasury Secretary Scott Bessent called the “greatest financial offensive ever” against Iran and its trading partners. Bessent is expected to announce the new measures at a press conference later today.

Tehran has pushed back against the threat, warning it could halt Gulf oil exports if the economic pressure continues and telling ships not to enter the Strait of Hormuz without its permission. Meanwhile, Oman’s Foreign Minister Sayyid Badr Al Busaidi is due in Tehran on Tuesday for talks on the strait and the wider regional situation, Iran’s Foreign Ministry spokesperson Esmaeil Baghaei confirmed.

MEANWHILE- Ahead of tonight’s press conference, Iran’s currency has fallen to a record low, hitting IRR 2.02 mn per USD on informal markets today as Tehran braces for US sanctions. The central bank rate stood at around IRR 1.5 mn per USD, but most Iranians rely on the informal rate.

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

IN OTHER NEWS- UK Prime Minister Andy Burnham has vowed to maintain pressure on Russia during his first official visit to Ukraine, despite what he called Moscow’s “outrageous threats.” Burnham is expected to hand Kyiv blueprints for building its own long-range missiles and has pledged to help strengthen Ukraine’s air defenses ahead of winter.

Moscow responded by accusing the UK of “participating in this war,” warning that sharing classified missile information would add “fuel to the fire.” Meanwhile, Ukrainian President Volodymyr Zelenskyy told Burnham that Ukraine would “not submit” to Russia and presented the British PM with an award recognizing the UK’s support.

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

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 Julius Nyerere hydropower dam, a USD 2.9-3 bn project on Tanzania’s Rufiji River, was formally inaugurated this week. Built for Tanzania’s state electricity utility Tanesco by a consortium of Elsewedy Electric and Arab Contractors, the dam holds back a 34 bcm reservoir and generates roughly 2.1 GW, enough to supply more than 60 mn Tanzanians;
• The Communications Ministry is targeting EGP 115.4 bn in private and foreign investment in the ICT sector in FY 2026/27, accounting for 83.1% of the EGP 138.9 bn in total investment targeted for the sector. The focus on private capital follows a sharp cut in public ICT investment, which fell to EGP 13 bn in FY 2025/26 from EGP 85 bn a year earlier;
• The Oil Ministry is stepping up its upstream push, with Minister Karim Badawi holding separate talks with Greece’s Energean and UAE’s Adnoc Drilling on expanding gas investment and launching a broader drilling program;
• The government plans to launch the Nevera Egypt project within one to two months “at most.” The project will serve as a cultural and economic gateway combining media production, innovation, tourism, and logistics in West Cairo.

Destination Sahel Issue IV, the final issue in the series, drops this week, and we’re exploring how the North Coast could be more than a summer story.

Living in Sahel year-round is moving from a seasonal idea to a serious question; an industrial push is reshaping the Coast’s economic base, and Egyptian homebuyers are weighing Sahel against Dubai, London, and other Mediterranean markets for where to put their money.

In this issue, we get into what it would take for Sahel to work beyond the summer, how industry fits into the Coast’s next chapter, and the numbers behind the Sahel-vs-everywhere debate.

Coming straight to your inbox on Wednesday, 26 August.

☀️ TOMORROW’S WEATHER- The heat isn’t going anywhere for a while. Tomorrow brings a toasty high of 38°C — with dehydration and heat stroke warnings in effect during strenuous outdoor activities — before dropping to 25°C overnight. On the North Coast, it’s another humid affair, with a sunny high of 33°C and a clear overnight low of 25°C, according to our favorite weather app.