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WHAT WE’RE TRACKING TONIGHT

Inflation eases for third straight month to 12.0% in August

Good afternoon, friends, and happy almost-weekend. It’s another busy day in the global press, and here at home, we’re celebrating a cooling inflation rate.

THE BIG STORY TODAY-

Annual headline urban inflation eased again in August by nearly two whole percentage points, falling to 12.0% y-o-y in August, according to data from state statistics agency Capmas seen by EnterpriseAM. The 1.9 percentage point fall from July brings the country’s headline figure to its lowest reading since March 2022 and marks the third consecutive month of easing price growth.

Pretty much all analysts forecast headline inflation falling this month, but few saw itfalling by as much as this, with a Reuters poll of 13 analysts producing a median forecast of 12.7% y-o-y.

Driving the decline was an easing in food and beverages prices — the largest component of the basket of goods and services used to calculate headline inflation — with food prices increasing only 2.1% y-o-y for the month. The figure marks the fourth monthly deceleration in price increases and a four-year low. Non-food inflation also dropped 2.2 percentage points to 19.0% y-o-y.

ALSO- Ferchem Misr makes strong EGX main market debut, shares jump 20%: Ferchem Misr for Fertilizers & Chemicals saw its shares surge 20% on its first day of trading on the EGX main market, after completing its transfer from the Nile Exchange. The stock closed at EGP 54.73, up from a previous close of EGP 45.61, with trading capped at the maximum daily allowable limit. The session saw 6k shares change hands in three trades, generating a total turnover of EGP 330k. At its closing price, Ferchem’s market capitalization stood at EGP 21.9 bn.


Mark your calendar for the 2025 EnterpriseAM Egypt Forum, our flagship forum and part of our must-attend series of invitation-only, C-suite-level gatherings. Tap to register your interest to attend. Want to partner with us? Reach out to Moustafa Taalab at [email protected] to explore sponsorship opportunities.


THE BIG STORY ABROAD-

It’s another busy day in the global press following Israel’s attack on Qatar, with most — if not all — media outlets zeroing in on its implications amidst heightened regional tensions.

Leading the news this afternoon is an announcement from Polish Prime Minister Donald Tusk that the country is at its closest to open conflict since World War II after Russian drones infiltrated the Nato member’s airspace. Four of at least 19 Russian drones that entered the Polish airspace overnight were shot down by Nato and Polish aircrafts.

Though Russian drones have crossed through Poland before, the incident marks the first time they have been intercepted over Nato territory. Thus far, seven drones have been located across the European country, with damages recorded in the south-eastern regions, though no injuries have been reported. The country invoked Nato Article 4, which mandates consultation among the Nato council when a member state believes its security to be threatened. The article has been invoked seven times since the beginning of the Russian war on Ukraine.

"I have no reason to claim we're on the brink of war, but a line has been crossed, and it's incomparably more dangerous than before," Tusk said. “This is not just a war for Ukrainians. This is a confrontation that Russia has declared against the entire free world,” he added. (BBC | Reuters | New York Times | Wall Street Journal | CNN | Financial Times | Bloomberg | Guardian)

☀️ TOMORROW’S WEATHER- The cool weather streak continues, with temperatures in the capital peaking at a sensible and sunny 33°C before dropping to 21°C, according to our favorite weather app.

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FOR YOUR COMMUTE

The USD 999 question: Can the iPhone Air save Apple?

This September, Apple has returned to the spotlight, delivering one of the most significant product refreshes in recent years. The tech giant unveiled its iPhone 17 lineup at their highly anticipated Awe Dropping event, alongside substantial updates to its Apple Watch, AirPods, and microchip portfolios. But the star of the show was the iPhone Air, the company’s slimmest phone to date. These announcements seem to be Apple’s response to market demands for innovation while positioning the company for the next phase of mobile technology evolution.

The iPhone Air is slim, but shaping up well. Apple’s most significant announcement was the iPhone Air, marking the company’s boldest design departure since the iPhone X. At just 5.6 mm thick, this ultra-slim device replaces the iPhone Plus in Apple’s lineup, offering a compelling middle-ground option between the standard and Pro models, and an upgrade to what was being called a “stagnant” iPhone lineup.

The specs: The iPhone Air features a 6.5-inch display with 120Hz ProMotion technology, and houses a sophisticated — but bulky, compared to the rest of the phone — 48-megapixel camera system with 2x optical zoom capability. The device incorporates the new 18-megapixel Center Stage front camera technology that reportedly enhances video calling experiences across the entire iPhone 17 family. Worried about durability? The iPhone Air’s Ceramic Shield 2 coating will allegedly withstand more roughhousing than whichever model you currently sport, says NYT. Apple is promising an all-day charge, but we’ll believe it when we see it.

Higher asking price for less phone? Surprisingly, the iPhone Air isn’t the most affordable of the lineup, despite giving you less phone to work with. Priced at USD 999, this model adopts an eSIM-only configuration to lend to its streamlined design, but reportedly offers improved connectivity options. But don’t expect to pick from the rest of the lineup’s bold colors — you can pick between black, white, sky blue, and light gold.

A new look for the Pro models. The iPhone 17 Pro models showcase Apple’s commitment to professional-grade mobile technology with a completely redesigned camera architecture. The new system features three 48-megapixel rear cameras arranged in a distinctive rectangular housing that spans the device’s width, delivering impressive 4x optical zoom capabilities The Pro models also benefit from comprehensive Ceramic Shield 2 protection, and feature refined aluminum construction with an advanced vapor chamber cooling system to bolster battery performance and processing capabilities.

New specs, new prices: Apple has adjusted pricing for its Pro line to USD 1.1k, a USD 100 increase from the previous generation. But this adjustment includes double the base storage capacity — now 256GB. The standard iPhone model has received notable upgrades, including a larger 6.3-inch display, and the addition of 120Hz ProMotion technology, previously exclusive to Pro models.

Game-changing chips. Perhaps the most technically significant advancement is Apple’s custom N1 networking chip, representing the company’s first internally designed WiFi and Bluetooth solution. This strategic move toward silicon independence enables support for WiFi 7, Bluetooth 6, and Thread protocols while optimizing power efficiency across connectivity.

Want that repeated again but in English this time? The chip will enhance performance for key Apple ecosystem features, including Personal Hotspot, AirDrop, and SideCar — not to be confused with CarPlay — while reducing overall power consumption. Combined with the new A19 Pro processor, which delivers MacBook Pro-level computing performance, these devices establish a robust foundation for advanced AI applications — which still seem to be TBD — and seamless multi-device integration.

The wearable tech crowd gets to show off three new Apple watches with major tech revamps. Debuting in the Apple watch roster are the Watch Series 11, Watch Ultra 3, and a refreshed Watch SE. The Ultra 3 particularly stands out with the addition of 5G connectivity and satellite communication capabilities, alongside faster charging technology. All new models feature breakthrough hypertension detection, representing a significant advancement in consumer health monitoring. Battery performance improvements promise 24-hour or extended usage across the lineup, while the Watch SE now includes satellite messaging capabilities previously reserved for premium models.

Live language translation with AirPods Pro 3. The third-gen AirPods Pro will introduce several meaningful improvements including redesigned earbuds for comfort and fit, but will maintain their USD 249 pricepoint. The standout innovations are real-time language translation powered by Apple Intelligence, advanced heart-rate monitoring, superior noise cancellation technology, water resistance, and extended battery performance.

The word on Wall Street: Momentum building toward the event drove an 18.2% stock gain in the preceding month, indicating renewed investor interest, but despite the comprehensive product announcements, Apple shares declined approximately 1.5% immediately following the event. This response suggests that while the products demonstrate technical innovation, investors remain cautious about Apple’s ability to drive significant growth acceleration in the near term.

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Under the Lamplight

Valleys of what have been and what will be

?Scott Alexander Howard’s The Other Valley offers a new take on time travel — one that carries the emotional weight of its use in Interstellar than your typical sci-fi handling. Rather than treating it as the result of a man-made invention, in his debut novel, Howard presents time travel as a natural fact of geography — a natural phenomenon that needs to be carefully managed rather than a novel technology inevitably being exploited.

Odile Ozanne lives in a small mountain town — to the west lies an identical valley 20 years in the past, and to the east an identical valley 20 years into the future. On their borders are armed guards dispatched to secure exit and entry between the valleys, with rare visits approved by the governing Conseil. These supervised trips are usually reserved for mourners desperate for one last look at their departed loved ones, and require full-face masks to hide their identities and other strict protocols to ensure lack of interference in the timeline.

When 16-year old Odile spots future visitors and recognizes her friend Edme’s parents, she’s hit with a terrible realization: Edme is going to die, and she’s the only one who knows it. What makes Howard’s time travel feel so grounded is how naturally it exists in Odile’s world. There are no machines, no scientific explanations — just mountains and the crushing weight of foreknowledge, and the allure and horror of change.

Howard’s background in philosophy shines in The Other Valley. Through scenes where Conseil apprentices debate whether to grant mourning visits, the story becomes a sustained look at impossible ethical questions: When does individual suffering outweigh collective good? Can morality and empathy become destructive forces?

For readers drawn to character-driven narratives that spotlight fundamental human dilemmas, The Other Valley offers a deeply satisfying and emotionally resonant experience. It’s a novel that lingers long after the final page, leaving you with questions that have no easy answers.

WHERE TO FIND IT- You can find The Other Valley at Bibliothek, or as an eBook on Amazon.

This publication is proudly sponsored by

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Sports

All quiet on the football front

No matches are being played today following the end of the first international break of the season. But we won't have to wait too long — the major leagues will be returning over the weekend.

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OUT AND ABOUT

Comedy takeover with Mo Amer

MARK YOUR CALENDAR-

?️ Huge comedy moment coming your way: MoAmer ’s standup show lands Egypt on Wednesday, 1 October at the New Administrative Capital. Grab your tickets before they’re gone on Ticketsmarché.

HAPPENING THIS WEEK-

In the mood for satire? Sokseeh is bringing Not Just For Men to their Rihany Stage. Don’t miss out on this interactive live comedy show tonight. Grab your tickets on Ticketsmarché.

Sing along to The Weeknd’s greatest hits at Party Monsters’s Tribute Night, live at El Sawy Culturewheel tonight. Get your tickets at the door or through El Sawy Culturewheel’s website.

George Wassuf fan? Saad El Oud is here to switch things up with an intimate George Wassuf tribute night at Madinaty’s Boom Room tonight. Book your tickets on Ticketsmarché.

Immerse yourself in an evening of art discussions with artist Fatima El Shiati and Dr. Naila Hamdy at Bibliothek. Explore techniques, meanings, and perspectives in a panel discussion on Thursday, 11 September. While you’re there, take the time to reflect on El Shiati’s paintings at her Passing By exhibition, on view until Monday, 15 September.

HAPPENING LATER-

A tribute concert for the legendary Umm Kalthoum awaits you at Cairo Opera House’s Open Air Theatre. Experience her unforgettable melodies live on Thursday, 18 September. Book your tickets via Tazkarti.

The iconic Myriam Fares is set to perform all-time favorites at Hacienda White’s Kiki’s Beach on Friday, 19 September. Don’t miss the final days of Sahel season — you can grab your tickets on Kiki’s website .

If you’re looking for your next vintage find, we’ve got some good news. Cairo Flea Market Streets Edition is kicking off the new thrifting season on Saturday, 20 September at Zamalek’s Horreya Garden. The market is set to run from 10am to 10pm, and will feature everything from vintage finds to handcrafted treasures.

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GO WITH THE FLOW

What the markets are doing on 10 September 2025

The EGX30 rose 0.8% at today’s close on turnover of EGP 3.3 bn (25.5% below the 90-day average). International investors were the sole net sellers. The index is up 16.6% YTD.

In the green: EFG Holding (+2.8%), Raya Holding (+2.6%), and Ibnsina Pharma (+2.4%).

In the red: Eastern Company (-1.3%), Oriental Weavers (-1.0%), and Orascom Development (-0.9%).


? SEPTEMBER

9-15 September (Tuesday-Saturday): Fatima El Shiati’s Passing By art exhibition at Bibliothek.

10 September (Wednesday): George Wassuf tribute night at Madinaty’s Boom Room.

10 September (Wednesday): Not Just for Men Comedy Show at Rihany Theatre.

10 September (Wednesday); The Weeknd Tribute Night at El Sawy Culturewheel.

11 September (Thursday): Art and technique panel discussion with Fatima El Shiati and Dr. Naila Hamdy at Bibliothek.

12-13 September (Friday-Saturday): Garage Sale at Darb 15.

12-19 September (Friday-Friday): CIB Egyptian Squash Open 2025 at the Great Pyramids of Giza.

13 September (Saturday): Wael Gassar and Reham Abdelhakim at The Address Beach Resort.

15 September (Monday): Miley Cyrus & Demi Lovato Tribute Night at Room Art Space New Cairo.

16 September (Tuesday): Ibrahim Eissa book signing at Bibliothek.

18 September (Thursday): Ragheb Allama at The Address Beach Resort.

18 September (Thursday): Umm Kalthoum Tribute Concert at Alexandria Opera House’s Open Air Theatre.

19 September (Friday): Tamer Ashour at The Address Beach Resort.

19 September (Friday): Myriam Fares at Kiki’s Beach.

20 September (Saturday): Assala and Ahmed Saad at The Address Beach Resort.

20 September (Saturday): Cairo Flea Market Streets Edition at Zamalek’s Horreya Garden.

20 September (Saturday): Adel Rahoumi’s Diversity art exhibition at Bibliothek.

OCTOBER

1 October (Wednesday): Mo Amer Comedy Night at the New Capital.

3 October (Friday): Tamino at the Cairo International Convention Center.

5 October (Sunday): Medhat Saleh & Amal Maher at Abdeen Palace.

6 October (Monday): Armed forces day.

7 October (Tuesday): Enterprise Egypt Forum 2025.

10 October (Friday): Anyma at The Great Pyramids.

15 October (Wednesday): Scorpions concert at New Capital.

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

NOVEMBER

11 November - 7 December (Tuesday - Sunday): Forever is Now at the Great Pyramids of Giza.

DECEMBER

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

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