Malls without Zara and a local beauty shelf put to the test

Good afternoon, friends, and happy Hump Day. Two stories lead our Headlines section today: MNT-Halan’s EGP 4 bn post-IPO capital increase is fully paid up, with its corporate parent subscribing at the EGP 24.50 offer price. Meanwhile, importers say banks have the USD they need, but an FX rate above EGP 56 and rising port storage fees are driving up the cost of bringing goods into the country.

Made in Egypt is back at the mall: We talk to the landlords in today’s installment of the series. Marakez, Badreldin Group, and El Sewedy’s U-Venues have swapped international anchor tenants for homegrown brands, and the clientele extends past the Gen Z segment. We’ve also spent weeks putting six Egyptian hair and skincare brands to the test. Our verdict is a decidedly mixed bag.

Elsewhere in the issue: Harry Kane takes home the Ballon d’Or, and we round up tonight’s footie fixtures. We also pull up at Mivida’s Miam Miam and The Matcha Mob, where smash burgers go head-to-head with matcha.

But first, the news…

Egypt positions itself as the Eastern Mediterranean’s energy hub, amid claims from Turkey, Israel, and Cyprus.

Issue III of Power Trip asks what that takes: Egypt’s interconnections, grid readiness, and ports and supply chains shifting from efficiency to resilience.

Coming straight to your inbox tomorrow, 28 October.