US envoys shuttle between Moscow and Kyiv

Good afternoon, ladies and gentlemen, and welcome to the start of a fresh new workweek. Conference season is upon us, and today’s edition of The Enterprise Guide maps out the business events worth marking your calendars for, from mining and trade finance to entrepreneurship, AI, and ICT, with a note on how to make the most of them if networking isn’t exactly your forté. We also have a marketing podcast that runs exactly as long as it takes to finish a cup of coffee. That and more.

Without further ado, the news…

THE BIG STORY ABROAD-

🌐 No single story is dominating the press this afternoon, with a hodge-podge of stories vying for top billing. There have been no significant updates on the US-Iran front since the US struck three Iranian crude oil tankers yesterday — after Iran launched ballistic missiles at two US Navy warships. Former US defense secretary Leon Panetta warns that the war could drag on for another six months and risks becoming a “forever war in the Middle East” as it shows no signs of letting up. “There are very few options available to bring this war to an end,” he adds.

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

MEANWHILE- Making headlines is US envoy Steve Witkoff and US President Donald Trump’s son-in-law Jared Kushner’s first visit to Kyiv today, following three-hour talks with Russian President Vladimir in Moscow yesterday aimed at advancing efforts to end the Ukraine war. The Kremlin says talks with the US envoys were “useful” but gave no indication of any breakthrough. The talks come amid Russian drone and missile strikes on Kyiv, with Ukrainian President Volodymyr Zelensky claiming a shortage of air defense interceptors has left the country vulnerable to attacks. His defence technology advisor Serhii Beskrestnov warns that “In this war, nobody will [triumph].”

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

IN CLIMATE NEWS- Indonesia is the latest to be hit by a natural disaster, as the eruption of Mount Anak Krakatau forces six airports across the country to suspend flight operations today. Soekarno-Hatta International Airport was the first to be closed due to volcanic ash, as the country’s transport minister says 467 flights have been affected thus far. The volcano started erupting late on Friday night, with two more eruptions happening early today.

^^Read more on: BBC and Reuters.

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.

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

• Egypt’s economy grew 5.1% in FY 2025/26, accelerating from 4.4% a year earlier. Growth came in at 4.7% in 4Q, easing from the 5.0% we saw in 3Q, but the full-year outturn still comfortably beat the IMF’s latest 4.6% forecast. It fell just short, however, of the EBRD’s updated 5.3% projection in its June 2026 Regional Economic Prospects report;
• Nawy’s mortgage arm Nawy Now has picked up another EGP 633 mn from institutional investors after Synergy Capital’s asset-management firm, Misr for Financial Investments, closed the second issuance of its shariah-compliant, Ijarah-based fixed-income fund. The book came in 43% above the first issuance and takes the program to some EGP 1.08 bn against a five-year, EGP 5 bn target — a little over a fifth of the ceiling;
• The World Bank has flagged “high” fiduciary risk on its USD 440 mn loan to modernize railway safety along the Alexandria-Cairo-Nag Hammadi corridor — and more than five years in, the project’s lead safety metric hasn’t moved. The loan is run by Egyptian National Railways under the Transport Ministry. Fiduciary is the only risk category the Bank has escalated since approval: everything else, from macroeconomic to technical to stakeholder risk, sits where it did in March 2021;
• China’s Linglong Group signed an MoU with the Industry Ministry for a USD 2 bn integrated tire complex in Borg El Arab. The complex will produce tires for passenger cars, buses, and heavy equipment, plus conveyor belts. It will also fold in upstream feeder industries — carbon black and steel cord — to build a complete local value chain. Exports will target Europe and the US, alongside the domestic market.

☀️ TOMORROW’S WEATHER- It looks like it’s another day of sun for Cairo as highs go up to 37°C, with an overnight low of 24°C, according to our favorite weather app.