Iran prepares for economic isolation + US-Canada trade war in full swing

Good afternoon, folks, and happy almost-long weekend — one more day. If your wrist has been acting up lately, today’s issue might explain why: we break down carpal tunnel syndrome, why office workers are increasingly in the crosshairs, and what you can do about it. We also put Breadfast’s own cloud kitchens to the test — not the snacks, but the actual hot food — and came away pleasantly surprised.

… But first, the news.

THE BIG STORY ABROAD-

🌐 Still leading the global newsfront this afternoon is the latest in the ongoing US-Iran war. China warned that the latest US sanctions on Iran will “further intensify tensions” after Washington announced what it described as an “economic D-Day” aimed at isolating Tehran from the global economy. Iran’s Economy Minister Ali Madanizadeh said Tehran was “fully prepared” for the measures. Meanwhile, Pakistan said it had made “significant progress” in talks with Iran on the war and wider regional tensions.

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

MEANWHILE- The US continues on the path toward a trade war with Canada, as Canada vows to retaliate with more tariffs against the US following the further deterioration of negotiations. Canada is set to announce retaliatory tariffs against the US today.

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

IN OTHER NEWS- The US has removed Syria from its list of state sponsors of terrorism after 47 years, lifting what Washington described as the final major barrier to private investment and Syria’s reintegration into the global economy. Secretary of State Marco Rubio said the move recognizes the Syrian government’s efforts to distance itself from international terrorism. The US also removed Hayat Tahrir Al Sham, formerly Al Qaeda’s affiliate in Syria, from its list of global terrorist organizations.

^^Read more on: BBC, France 24, and NBC News.

HOWEVER- As the US recognizes Syria as a non-terrorist state, the Trump administration plans to revoke the business and tourism visas of up to 200k foreigners who have applied for or are currently seeking asylum, a move that would mark the largest mass visa revocation in US history if carried out. The revocations would not necessarily result in immediate deportation, but would end their business or tourism visa status.

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

IN CLIMATE NEWS- At least 39 people were injured after a tornado tore through the southern French village of Pomas, damaging around 300 homes and leaving 1.4k households without electricity.

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

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 tomorrow.

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

• The Central Bank of Egypt’s board has approved rules governing the eKYC identity system, which electronically identifies and verifies bank customers, letting banks verify customer identities digitally rather than in person. Governor Hassan Abdalla said the system lets customers open accounts and access banking products entirely through digital channels — no branch visit required;
• The EGX’s listing committee fined roughly 50 companies a combined EGP 1.04 mn last week for missing financial statement deadlines. This marks the latest in a run of decisions this summer that have penalized the same names, session after session, without any of them producing their numbers;
• Local insulin manufacturers are expanding capacity to meet new export orders from Europe and Africa, while seeking to preserve supply for the domestic market. The companies are investing in additional production lines and higher output to fulfill the orders and access further export markets;
• Al Ahly Sabbour, Beltone Mortgage, Property Finder, and Coldwell Banker Egypt are teaming up to introduce the open-house property sales model to Egypt, bringing home viewing, property selection, and mortgage financing as part of the same package. The four companies are billing the initiative as the first of its kind in the Egyptian market.

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?”

Join us on 5 October in Cairo. Seats are limited and attendance is by invitation only.

Request your invitation here.

☀️ TOMORROW’S WEATHER- It’s another very hot day tomorrow, with the mercury reaching a sunny 39°C — caution is advised for prolonged outdoor activities — before dropping to a warm 25°C overnight. The North Coast remains more of the same, with plenty of humidity and temperatures peaking at 33°C before dropping to a low of 25°C overnight, according to our favorite weather app.