Good afternoon, friends, and welcome to a new (albeit very short) workweek. Cairo’s staying cool and calm today, so we’re keeping things equally smooth. In today’s issue, we’ve got your go-to guide to Eid udhiyas and donations, a deep dive into history’s game-changing innovations with Trailblazers, and a look at what’s brewing on the football fields.
But first, the news…
THE BIG STORY ABROAD-
🌐 After what seems like ages of diplomatic ping-pong, US Secretary of State Marco Rubio has stated that “significant progress” has been made in Iran talks, but there is still “work to do.” Rubio’s statement follows US President Donald Trump saying that an agreement with Iran has been “largely negotiated.”
Rubio hinted at good news and an official White House statement “in the next few hours,” but cautioned that it wouldn’t be final, maintaining that a large part of the agreement hangs on Iran committing never to pursue nuclear weapons. According to an Axios exclusive, the terms of the proposed US-Iran agreement include a 60-day ceasefire extension, reopening the Strait of Hormuz, the US lifting its blockade on Iranian ports, and fresh talks aimed at putting guardrails on Iran’s nuclear program.
^^Read more on: CNN, BBC, Reuters, AP News, Bloomberg, and The Guardian.
MEANWHILE- Large-scale Russian attacks left four people dead and many injured in the Kyiv region. Ukrainian President Volodymyr Zelenskyy stated that Russia used hypersonic Oreshnik ballistic missiles in the attack on the Ukrainian capital, making this the third time the weapon has been used in the ongoing war. The aerial assault reportedly damaged everything from residential buildings and schools to markets and areas near government offices, according to Ukrainian authorities. At least 83 people were reported wounded in the attack.
^^Read more on: CNN, BBC, Reuters, Bloomberg, and The Guardian.
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** CATCH UP QUICK on the top stories from today’s EnterpriseAM:
- The IMF delegation is wrapping up a two-week visit to Cairo this week to finalize the seventh review of Egypt’s economic reform program, with talks progressing positively toward unlocking the next loan tranche by late June;
- The Financial Regulatory Authority is putting NBFI violators on public display, setting up a registry for individuals and companies that violate non-banking financial regulations. The registry will sort violators into three public lists: the warning list, the negative list, and the administrative measures list;
- The CBE’s Monetary Policy Committee held interest rates steady at its meeting on Thursday for the second consecutive time, keeping the overnight deposit rate at 19.00%, the lending rate at 20.00%, and the main operation and discount rates at 19.50%.
☀️ TOMORROW’S WEATHER- We’re in for a moderately warm day in the capital tomorrow, with a high of 31°C and a low of 19°C, according to our favorite weather app. Headed up north? Expect a breezy high of just 25°C and a low of 18°C.




