Good afternoon, ladies and gentlemen, and happy hump day. It’s another (unsurprisingly) busy afternoon in the press, and we’ve got the latest for you below. Today, we’re taking a look at why the Egyptian street is being repackaged as a luxury moodboard, trying out a hot new pizza place, and more.
But first, the news…
THE BIG STORY TODAY-
📍 The Finance Ministry is activating the pilot phase of the Advanced Cargo Information (ACI) system for express couriers today, a move that will become mandatory on 1 May for all airport-based courier firms, a government source tells EnterpriseAM. Under the new regulations, parcels exceeding 50 kg will require a unique ACID number to ensure “tight control” and market protection against substandard goods as the Nafeza platform evolves into a unified trade hub for all Egyptian ports, our source added.
While the full electronic export system has seen its April launch slightly deferred to finalize procedural organizing, the Finance Ministry is simultaneously readying legislative amendments aimed at reducing customs disputes and slashing clearance times to boost the competitiveness of local exports, according to our source.
^^ We’ll have more on this story in tomorrow’s edition of EnterpriseAM.
THE BIG STORY ABROAD-
🌐 The global oil supply crisis is still dominating headlines as EU Energy Commissioner Dan Jorgensen tells governments they should prepare for a prolonged disruption to energy markets as a result of the US-Iran war. Brent prices are headed for record monthly gains — especially following an Iranian strike on a Kuwaiti oil tanker this morning. Brent climbed to USD 115 per barrel earlier today before dropping to USD 107, while WTI jumped 0.6% to USD 103 per barrel as of publication.
^^Read more on: Reuters here and here.
MEANWHILE- Global consumer goods giant Unilever is enforcing a three-month global hiring freeze as it grapples with high shipping costs due to the US-Iran war. The freeze comes amid the company’s cost-cutting program, enforced in 2024, and amid talks to sell its food businesses to McCormick for USD 15.7 bn.
^^Read more on: CNBC and Reuters.
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** CATCH UP QUICK on the top stories from today’s EnterpriseAM:
- Fertilizer manufacturers could soon face higher gas prices as the government seeks to narrow the gap between buying and selling prices, driven by the increase in global energy prices amid the war;
- Construction firm CCC Egypt acquired a 99% stake in Nile Aluminum and Metals Co. The transaction marks a strategic push into the building materials value chain as the Egypt unit of CCC International looks to vertically integrate beyond its core contracting business;
- S&P Global Ratings now sees our GDP growing at a 4.7% y-o-y clip in the current fiscal year, down 0.1 percentage points from its previous forecast. The move makes S&P the latest body to give its projections a wartime reality check.
🌦️ TOMORROW’S WEATHER- We’re in for some rocky weather in the capital tomorrow, with strong winds and rain both on the menu. The mercury will peak at 26°C, with a low of 18°C, according to our favorite weather app.




