🎉 Good morning, friends, and Eid Mubarak to you all. It’s been a long month, but we finally have a few much-deserved days in our grasp to unwind, relax, and recharge before easing back into post-holiday work mode.
Whether you’re heading to the Red Sea or moving on up North for the long weekend, we hope you make the most of your holiday. For those staying in Cairo, look forward to calmer-than-usual streets, slower mornings, and packed-to-the-brim malls as the Cairenes sticking it out in the capital flock to catch up on films, food, and fun.
Today’s issue is all about Eid — its history, its traditions, and the potential business windows the season opens up. We’re taking a look at the history of kahk and what the Egyptian cookie can teach us about product sustainability, how Egypt’s digital transformation is changing the way Eidiyas are given, and much more.
But first, Eid or not, let’s take a look at the week’s top headlines.
🗞️ LAST WEEK IN 3 MINS-
This week, the news cycle didn’t seem as enthusiastic about the Eid break as we were, showing no signs of slowing down — here’s what you might have missed:
BUDGET WATCH-
#1- Finance Minister Ahmed Kouchouk is building a rainy-day buffer as he prepares the upcoming state budget, signaling a hard pivot toward fiscal preservation over expansion.
AND- FinMin aims to bring Egypt’s debt-to-GDP ratio down to a sustainable 71-73% by the end of FY 2028-29 and lower its gross financing needs to 9-11% of GDP.
#2- The government is mulling increasing its public sector wage budget past EGP 700 bn for the first time, coming in at around EGP 750 bn in the next fiscal year, versus EGP 679.1 bn in the current fiscal year.
TAX-
FinMin is set to waive all back taxes on unregistered properties or those missing from tax records in a major “goodwill” bid to expand the tax base through voluntary compliance.
TRADE-
Egypt is positioning itself as a key gateway in global trade amid all the disruptions, with some of its ports witnessing a notable uptick in activity as more shipments get rerouted to avoid the now-closed Strait of Hormuz.
AUTOMOTIVE-
The Industry Ministry is rolling out a revamped, more realistic playbook to get local auto manufacturing back in the fast lane, targeting 100k vehicles annually with 60% local content.
DEBT-
#1- Foreign investors halted the retreat from Egypt’s debt market this week, helping the Finance Ministry cover its funding needs without incurring prohibitive borrowing costs.
#2- The Finance Ministry will open subscriptions for a new tranche of its recently launched Citizen Bonds next week, with the issuance scheduled for 15 April.
IPO WATCH-
The government will finalize a timeline to exit or IPO at least 20 state-owned enterprises immediately after the Eid El Fitr break. The goal is to generate USD 3-4 bn in immediate inflows by year-end.
🌍 AROUND THE WORLD IN SEVEN DAYS-

It was another oil-dominated week in the press, with the regional war still showing no signs of ending, and the vital Strait of Hormuz remaining blocked.
The biggest news this week topped headlines on Tuesday as Israeli Defence Minister Israel Katz released a statement that Iran’s security chief, Ali Larijani, and the commander of Iran’s Basij forces, Gholamreza Soleimani, had both been killed in overnight airstrikes, marking the first high-profile Iranian officials to be killed since Ali Khamenei’s death over two weeks ago.
The news was followed by another statement from Katz on Wednesday afternoon that Iran’s Intelligence Minister Esmail Khatib was also killed in an overnight strike. Katz added in his statement that Israeli Prime Minister Benjamin Netanyahu had authorized the military to assassinate any senior Iranian official without the need for additional approval.
Oil prices continued their surge with global supply majorly disrupted. Brent reached a high of USD 105 per barrel on Monday, while WTI climbed to nearly USD 100 per barrel. The release of the IEA emergency oil stockpile showed little impact on the market, with crude prices having jumped more than 17% since the emergency release. Both Brent and WTI have witnessed 40% spikes just this month.
On Sunday, US President Donald Trump threatened more strikes on Iran’s Kharg Island oil export hub, while Israel continued its strikes across the region and Iran retaliated with strikes on the UAE’s energy infrastructure. Over the week, Trump called on allies to assist in reopening the Strait of Hormuz in light of the persistent disruptions to the global oil supply — his calls were rejected by most, including Europe.
Making business headlines: Meta revealed plans for another sweeping layoff that could affect more than 20% of its workforce. In the world of AI, tech giant Nvidia is looking to roll out a new chip specially geared to speed up AI responses in what could be a pivot from its usual one-size-fits-all approach to chipmaking.
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☀️ THE WEATHER THIS EID-
It looks like we’re in for some rocky weather this Eid. Temperatures will be on the lower end of the spectrum, with the weekend kicking off at a high of 23°C and a low of 13°C today. It’ll gradually cool down over the coming days, reaching a low of 12°C by Monday. We might also be in for some wind and dust, so stay on the lookout.
🎊 YOUR GUIDES TO EID-
Has your Eid long weekend gone unplanned so far? Fret not, ladies and gentlemen, as we have quite a few ideas on how you could still turn that around. In no particular order, here's every guide to Eid El Fitr we have for you:
- Where to have breakfast this Eid ;
- Where to stock up on kahk ;
- What to do (and where to stay) this Eid ;
- Your guide to a Cairo staycation ;
- Your guide to a perfect picnic ;
- How to spend a weekend in Fayoum ;
- How to spend a weekend in Alexandria ;
- Where to go for a day-long seaside dining experience.
🎤 HAPPENING THIS EID-
A classical oud performance for Eid? Sounds like the perfect plan. CJC 610 is kicking off their post-Ramadan season with Saad El Oud, bringing his soulful vocals and Arabic melodies for a nostalgic, intimate night on Saturday, 21 March at 10pm. You can book your tickets now on Ticketsmarché.
El Sawy CultureWheel is celebrating Eid with a live performance from Tablet El Sitt this Saturday, 21 March at 7pm. Expect a night of the group’s signature ringing vocals and masterful tabla playing. Tickets are available on the venue’s website.
Famed Nigerian singer Burna Boy is landing in Egypt on Sunday, 22 March at El Gouna’s Conference and Culture Center. The singer will be bringing his chart-topping Afro-fusion music to the stage. You can book your tickets on Ticket Egypt.
Up for a family comedy night this Eid? Tarek El Ebiary returns for Eid with his interactive stand-up comedy show Zarf Tarek Gedan on Sunday, 22 March at 8pm at the Heliopolis Library Theater. You can book your tickets on Ticketsmarché.
Another Eid night with live music awaits at El Sawy CultureWheel, with Black Theama taking over on Sunday, 22 March at 8pm for a rhythm-packed night of their iconic Nubian folk-fusion sounds. Tickets are available on the venue’s website.


