Egypt targets 30 temporary EGX listings by end of June

🤔 Do you hear that? It sounds like… the weekend. Afternoon, ladies and gents, and kudos to you for making it through a short-but-packed workweek. We’ve got a brisk issue for you today, featuring a review of an Egyptian phone that seems able to hold its own against the big guns and a look into the new spin-off sequel to The Handmaid’s Tale: The Testaments — and why you’ll want to watch it. Praise be.

First things first, your afternoon news briefing…

THE BIG STORY TODAY-

📍The Madbouly government is planning to temporarily list 30 companies on the EGX before the end of June, including 20 public business sector companies and 10 state-owned oil firms, Hashem El Sayed, assistant to the prime minister and head of the State-Owned Enterprises Unit, told EnterpriseAM in an exclusive interview.

El Sayed pointed to an accelerating pace of listings, with El Nasr Housing and Development and the National Company for Asset Management and Investment both listed today. These will be followed next week by the temporary listing of four subsidiaries of the Holding Company for Tourism and Hotels and the Holding Company for Construction and Development, he added.

^^ We’ll have more on this story soon.

It's official. MENA+ is live.

Our new regional flagship covers the flows of capital, people, and ideas across the Middle East — and beyond it. MENA+ covers AI and tech — and geopolitics, the war for talent, which BSD is on top (and who's gunning for them), the changing energy economy, new corridors to India and China, and much, much more.

What's with the "+" in MENA+? We think one of the most powerful stories in the region is the *export* of ideas and capital not just to neighboring regions (Asia, the Stans) but to international financial centers. MENA countries are jockeying for position in the new global economy now taking shape, and we're going to shape that conversation.

Delivered to your inbox every Monday, Wednesday, and Friday before 12pm UAE.

THE BIG STORY ABROAD-

🌐 As talk of talks continues leading nowhere, it seems Europe could run out of jet fuel in just six weeks as ripples from the US-Israel-Iran war spread. International Energy Agency (IEA) Executive Director Fatih Birol warned earlier today in an Associated Press interview that Europe may have “[six] weeks or so” of fuel left, likely leading to flight cancellations, should oil supplies from the Middle East remain blocked by the war. The EU is reportedly drafting plans to face the tight supply.

Read more on: Associated Press, The Guardian, CNBC, and Reuters.

** CATCH UP QUICK on the top stories from today’s EnterpriseAM:

• The Finance Ministry is targeting a record EGP 3.5 tn in tax revenues in the FY 2026-27 budget — a 28% jump from the EGP 2.7 tn projected for the current fiscal year;
• Hassan Allam Holding acquired MetiPro, the engineering, procurement, and construction arm of the UAE’s Metito. The transaction will set up a platform that boosts the firm’s presence in water operations across the region and beyond;
• The Egyptian Customs Authority is rolling out a risk-based clearance system classifying all incoming cargo into four distinct lanes. The goal? Faster release times with tighter oversight at ports.

☀️ TOMORROW’S WEATHER- We’re hopefully in for a relatively cooler day in Cairo tomorrow, with the mercury set to peak at a sensible 30°C, with a low of 20°C, according to our favorite weather app.