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Good morning, all. We lead today’s issue with the latest moves from the government as it looks to adapt to a potential trade war, more steps to boost private sector participation in airports, and Egypt putting forward a new proposal to restart the ceasefire in Gaza.
So, when do we eat? Maghrib prayers are at 6:10pm in the capital, and you’ll have until 4:24am tomorrow to hydrate and caffeinate ahead of fajr.
PSA-
Schools are getting the whole of next week off for the Eid El Fitr break. The public sector will have Saturday to either Tuesday or Wednesday off depending on when Eid officially starts, but we’re still waiting for confirmation from the Labor Ministry, Central Bank of Egypt, and the EGX that the private sector, banks, and bourse will follow suit.
EnterpriseAM Egypt is also taking the week off, but worry not, we will be back bright and early on Sunday, 6 April with a rundown of the most important business news from the Eid break.
WEATHER- It’s another sunny day in Cairo, with a high of 29°C and a low of 17°C, according to our favorite weather app.
It’s as hot in Alexandria, with a high of 27°C and a low of 16°C.
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WAR WATCH-
Egypt tabled a new proposal to restart the ceasefire in Gaza, which Israel broke last week by launching airstrikes and a ground assault that has since killed nearly 600, an Egyptian official reportedly told the Associated Press. The proposal — which includes the release of five Israeli hostages in exchange for a weeklong pause in the fighting and the passage of humanitarian aid — has been responded to “positively,” a Hamas official told the newswire.
The Foreign Ministry strongly condemned Israeli plans to set up an “agency” to displace the people of Gaza and its decision to recognize 13 new settlements in the West Bank, according to a statement. Cairo said Israel’s claim that the displacement would be “voluntary” is false, stressing that “any departure under bombardment and war, in the context of policies that prevent humanitarian aid and use starvation as a weapon,” constitutes “a forced displacement, a crime, and a violation of international humanitarian law.” The statement urged the international community and the UN Security Council to “adopt a firm stance” against Israeli violations and called for “the seriousness and decisiveness required” to uphold international law.
And FM Abdelatty follows up with Witkoff over the phone: Foreign Minister Badr Abdelatty and US Special Envoy to the Middle East Steve Witkoff held a phone call during which they discussed the joint efforts by Egypt, the US, and Qatar to secure the release of hostages and implement a ceasefire in Gaza, according to a Foreign Ministry statement.
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DATA POINT-
Global energy demand grew 2.2% last year, faster than the average rate, largely driven by emerging and developing economies which accounted for 80% of the uptick, according to the International Energy Agency ’s (IEA) 2025 Global Energy Review (pdf). Electricity demand led the rise, growing 4.3% at its highest level yet. Country-wise, China and India saw the largest uptick in demand for energy, with extreme weather patterns triggering increased energy needs. The Middle East saw a 2.2% uptick in energy demand.
Demand for oil slowed to 0.8% in 2024, after a 1.9% increase in 2023, and made up less than 30% of total energy demand on the back of slower industrial growth, increased electric vehicle use, and a slowdown in the road transportation sector. Natural gas, however, saw a 2.7% uptick in demand, largely driven by China, while global gas demand hit a new all-time high.
Also growing to a record high: Renewables capacity rose by 700 GW in 2024 to another all-time high, accounting for 80% of global growth alongside nuclear energy. Renewables also made up nearly three-quarters of the growth in power generation.
THE BIG STORY ABROAD-
Trump tariffs are back on the front pages: US President Donald Trump said auto tariffs will land “in the next few days,” with additional duties on pharma, lumber, and semiconductors set to follow “down the road.” Speaking to reporters at the White House yesterday, Trump said many of these levies will take effect on 2 April, which he framed as a “Liberation Day” for the US economy, though some duties may be phased in later and certain allies could receive exemptions. “We’ve been ripped off by every country,” Trump told reporters, arguing the tariffs will help shrink America’s trade deficit.
Trump also confirmed a new 25% “secondary tariff” on any country purchasing oil or gas from Venezuela, which will also take effect 2 April, the US President said on his social media platform Truth.
Markets reax: Wall Street closed higher on Monday on hopes that Trump’s long-threatened tariff package may end up being narrower in scope than initially feared. The S&P 500 gained nearly 1.8%, hitting a two-week high. But one White House official told Reuters that people “should not expect a reprieve,” saying the president is still “determined to implement reciprocal tariffs that are very strong.” (Reuters | Bloomberg | CNN | BBC | CNBC | New York Times)
*** It’s Going Green day — your weekly briefing of all things green in Egypt: Enterprise’s green economy vertical focuses each Tuesday on the business of renewable energy and sustainable practices in Egypt, everything from solar and wind energy through to water, waste management, sustainable building practices and how you can make your business greener, whatever the sector.
In today’s issue: We have the rundown of what went down during the third iteration of the Smart Green Projects Initiative.
