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Monday, 7 Jul 2025

What We’re Tracking Tonight
For Your Commute
Ears To The Ground
Sports
Out And About
Go With The Flow
The Enterprise Entertainment Calendar

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Today at a glance

1

The Big Story Today

Net foreign assets in Egypt’s banking sector see uptick.
2

FOR YOUR COMMUTE

Human trials on the way for AI-designed drugs.
3

Ears to the Ground

Informed perspectives and alternative solutions.
4

OUT AND ABOUT

Bibliotheca Alexandrina’s book fair kicks off.
5

Sports

It’s a day off.

Monday, 7 Jul 2025

What We’re Tracking Tonight
For Your Commute
Ears To The Ground
Sports
Out And About
Go With The Flow
The Enterprise Entertainment Calendar
1

WHAT WE’RE TRACKING TONIGHT

Net foreign assets in Egypt’s banking sector see uptick

Good afternoon, friends. It’s another calm day as far as the news cycle is concerned, and we’ve got a brisk issue for you.

THE BIG STORY TODAY

Net foreign assets in the banking sector increased nearly 10% in May to USD 14.7 bn, up USD 1.2 bn from April, according to data from the Central Bank of Egypt. The rebound was mainly driven by commercial banks’ net foreign assets hitting their highest level since February 2021, hitting USD 4.8 bn, a significant USD 3.2 bn increase from the month before.

AND- The country’s foreign reserves ticked up to USD 48.7 bn at the end of June 2025, with an increase of USD 174 mn from May, according to data released by the CBE today. Net foreign reserves increased by around USD 2.3 bn since June 2024, according to our calculations based on CBE data.

THE BIG STORY ABROAD

US President Donald Trump threatened 10% tariffs on Brics-aligned countries, following measured critiques from Brics leaders of the US’ new global tariff policies at the ongoing summit in Brazil’s Rio de Janeiro. The US president took to Truth Social, announcing that countries “aligning themselves with the anti-American policies of Brics” will be charged an additional 10% tariff. Trump’s comments come as the US prepares to resume issuing tariffs to dozens of countries, with a 90-day pause set to expire on Wednesday — although confusingly set to come into play starting 1 August.

☀️ TOMORROW’S WEATHER- We’re looking at another hot day in Cairo tomorrow, with the mercury set to peak at 37°C before cooling down to 21°C. The North Coast remains cool, with temperatures peaking at just 27°C before slightly dropping to 25°C at night, according to our favorite weather app.

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2

FOR YOUR COMMUTE

Human trials on the way for AI-designed drugs

Google’s next milestone? Cure all diseases. Alphabet’s Isomorphic Labs — a London-based company reshaping drug research using AI — is gearing up to test its AI-designed drugs in humans, with trials set to launch “soon,” according to Isomorphic Labs President and Google DeepMind Chief Business Officer Colin Murdoch, as quoted by Fortune.

Isomorphic Labs was born out of Google’s DeepMind following its breakthrough, AlphaFold — an AI-powered system that accurately predicted protein structures. Over the years, the technology evolved to model how these proteins interact with drugs, opening the door for more efficient and precise drug design. The ultimate goal? A world-class drug design engine to accelerate pharma research and — eventually — find a cure for everything.

How soon is soon? While human trials for its AI-designed drugs have not yet begun, Isomorphic Labs is currently in the process of staffing up, according to Murdoch, who also noted that trials are finally in sight after years of the drugs — many of which are designed to treat cancer — being in development.

Is this actually feasible? It seems the London-based company might indeed be onto something. In January 2024, Isomorphic signed an agreement with two pharma giants — Novartis and Eli Lilly — at a combined value of USD 3 bn to accelerate its research. Earlier this year, the company raised USD 600 mn in an external funding round led by US venture capital firm Thrive Capital. The capital was then allocated towards both supporting existing drug research and pioneering proprietary drugs in oncology and immunology for future licensing.

High hopes, higher expectations. “We’re trying to do all these things: speed them up, reduce the cost, but also really improve the chance that we can be successful,” Murdoch tells Fortune. He hopes that through AI, the process of creating a drug — which often takes over a decade and USD 1-2 bn from start to finish — may be made significantly more efficient. Today, however, it remains unclear whether Isomorphic’s plans will come to fruition.

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3

Ears to the Ground

Informed perspectives and alternative solutions

No country gets everything right, which is why there’s always room for improvement. In Elhal Eh?, AUC Associate Professor of Political Science Rabab El Mahdi hosts a slew of experts from across the country to discuss public policy in Egypt, and — as the title suggests — consider creative solutions to common problems.

Seasoned professionals. Launched in May 2023, the podcast — part of the Alternative Policy Solutions initiative at the AUC — tackles some of Egypt’s most pressing issues. Each episode brings thrilling conversations with industry veterans and ex-government officials, whose expert opinions shed light on alternative solutions to long-standing obstacles.

Class gaps and social responsibility. In one of the podcast’s most provocative episodes, business tycoon Samih Sawiris offers his opinion on the economic and financial landscape in Egypt. The episode explores the idea of corporate social responsibility and whether wealth comes with responsibilities beyond philanthropy. Titled The Social Responsibility of Businessmen in Egypt, Sawiris and El Mahdi address uncomfortable truths about inequality, class, and the role of capital in cultural infrastructure and shaping livelihoods.

Open to new perspectives? The podcast proves itself incredibly insightful, and its diverse guest list guarantees a lot of different opinions — some you might agree with, and others not so much. That, however, is what guarantees an engaged experience.

WHERE TO LISTEN- You can listen to Elhal Eh? On Apple Podcasts | YouTube | Spotify | Anghami | Deezer | Amazon Music.

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4

Sports

It’s a day off

⚽There are no important matches today, but we’re looking forward to tomorrow for the first semi-final clash of the Club World Cup between Fluminense and Chelsea soon to kick off. Until then, enjoy a stress-free evening.

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5

OUT AND ABOUT

Bibliotheca Alexandrina’s book fair kicks off

MARK YOUR CALENDAR-

? Feel like adding to your pile of to-be-read books? The 20th edition of Bibliotheca Alexandrina’s book fair kicks off today until Monday, 21 July. This year’s edition includes over 70 regional publishing houses, and will feature scores of cultural events and panel discussions. For more details on the book fair, head to Bibliotheca Alexandrina’s website.

HAPPENING THIS WEEK-

A bit of dramatics never hurt anyone. Tomorrow, Soul lounge wants you to come over and act the fool…literally. The Maadi hangout spot is hosting a “dramatically playful” night with all sorts of ridiculous games, improv challenges, and a whole lot of spontaneity in collaboration with Tafaaul. Sold already? You can secure your spot through the link in Soul’s bio on Instagram.

No nightmares by the sea here, just good vibes. On Thursday, 10 July, Garden City’s Room Art Space will be hosting a Jeff Buckley tribute night featuring Egyptian artists Ahmed Tawfik and Youssef Amarey, who will be performing unplugged, stripped-down versions of Buckley’s beloved hits. Tickets can be purchased through the link in Room Art Space’s Instagram bio.

Ready to face a quadruple threat? On Friday, 11 July at Marina’s Roman Theatre, iconicpop stars Mohamed Fouad, Ehab Tawfik, Hamid El Shaeri, and Hesham Abbas will be bringing the heat to the North Coast as part of the Tiatro Romano Summer 2025 Festival. Oh, you’re humming 2000s hits already? Head to Ticketsmarchè to secure your spot.

HAPPENING LATER-

Marassi’s music festival is going strong, and on Saturday, 12 July, Egyptian singer AmalMaher and Lebanese singer Walid Toufic will be lighting up the stage at The Address Beach Resort. Tickets can be purchased through Ticketsmarchè.

Feel like channeling your inner Kelly Clarkson? On Monday, 14 July, CJC 610 will be hosting its signature karaoke night. You can secure your spot through CJC’s website.

Number one is heading up north. Mark your calendars for Friday, 25 July, because Egyptian singer and rapper Mohamed Ramadan will be bringing the beat to the North Coast’s Porto Golf Marina. Ready to join the “Mafia”? You can grab your tickets from Ticketsmarché.

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6

GO WITH THE FLOW

What the markets are doing on 7 July 2025

The EGX30 rose 0.4% at today’s close on turnover of EGP 5.5 bn (10.7% above the 90-day average). Regional investors were the sole net sellers. The index is up 11.1% YTD.

In the green: Sidi Kerir Petrochemicals (+4.2%), Alexandria Mineral Oils (+3.9%), and Qalaa Holdings (+3.8%).

In the red: EFG Holding (-2.0%), Emaar Misr (-1.9%), and Beltone Holding (-1.7%).

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THE ENTERPRISE ENTERTAINMENT CALENDAR

JULY

7-21 July (Monday - Monday): Bibliotheca Alexandrina’s book fair.

8 July (Tuesday): Dramatically playful night at Soul lounge.

10 July (Thursday): Tablet El Sitt at Theatro Arkan.

10 July (Thursday): Jeff Buckley tribute night at Room Art Space, Garden City.

11 July (Friday): Paradise Ibiza at Solare Ras Al Hekma.

11 July (Friday): Mohamed Fouad, Ehab Tawfik, Hamid El Shaeri, and Hesham Abbas at the Roman Theatre.

12 July (Saturday): Amal Maher and Walid Toufic at The Address Beach Resort.

14 July (Monday): Karaoke night at CJC 610.

17 July (Thursday): Autostrad at El Sawy Culturewheel Theatre, Nile University.

18 July (Friday): Stephan Jolk and Adrien Apache at ESCĀ Beach Club.

18 July (Friday): Sharmoofers at Family Park.

18 July (Friday): Party on Wheels in Ramla.

19 July - 30 September (Saturday - Tuesday): Art Space at New Alamein.

25 July (Friday): Mohamed Ramadan at Porto Golf Marina.

26 July (Saturday): Open water festival at Ghazala Bay.

31 July (Thursday): Massar Egbari at El Sawy Culturewheel Theatre, Nile University.

AUGUST

1 August (Friday): The Martinez Brothers at Sol Beach.

6-30 August (Wednesday - Saturday): Egypt Sculpture Symposium at New Alamein.

8 August (Friday): &ME at Sol Beach.

8 August (Friday): All Day I Dream at ESCĀ Beach Club.

OCTOBER

16-24 October (Thursday-Friday): Gouna Film Festival.

30 October - 22 November (Thursday-Saturday): Forever is Now at the Great Pyramids of Giza.

DECEMBER

19 December (Friday): DJ Tiësto at the Giza Plateau.

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