Good afternoon, friends, and happy hump day. It’s another unusually warm day in Cairo, but we should be in for a reprieve starting tomorrow. In today’s issue, we’re taking a look at why fewer Egyptian students are pursuing overseas education, trying out a Cairene sandwich shop that goes above and beyond, checking out the World Food Program’s collaboration with Maison Choc, and more.

PSA- Eid break is officially just one week away, with Prime Minister Moustafa Madbouly marking Tuesday, 26 May to Sunday, 31 May, as a paid public holiday for government employees, according to a statement. We’re on the lookout for similar statements from the Central Bank, the EGX, and the Labor Ministry.

Without further ado, the news…

THE BIG STORY ABROAD-

🌐 Three people were killed in a shooting incident at the Islamic Center of San Diego today in what appears to be a hate crime. Two teenagers were later found dead from self-inflicted gun wounds in a car near the mosque, with one of the weapons seemingly having hate speech scrawled on it. A note that contained writings about racial pride was also found at the scene as investigations continue.

^^Read more on: CNN, BBC, The Guardian, and AP News.

MEANWHILE- The US-Iran war has seen little progress since US President Donald Trump suggested the ceasefire was “on life support.” The US’s scheduled attack was halted due to “serious negotiations taking place,” according to Trump. Iran’s latest response reportedly called for an end to hostilities across all fronts — including Lebanon — alongside the withdrawal of US forces from areas near Iran and reparations for damage caused by the war. Iran’s Deputy Foreign Minister Kazem Gharibabadi added that Tehran is pushing for sanctions relief, the release of frozen assets, and an end to the naval blockade.

^^Read more on: CNN, Reuters, and The Guardian.

IN OTHER NEWS- Russian President Vladimir Putin is scheduled to arrive in China today, less than a week after his American counterpart met with President Xi Jinping, as Beijing attempts to establish itself as a peace mediator in the Russia-Ukraine conflict and as a stable power in a world shaken by trade tensions, wars, and an energy crisis.

^^Read more on: Reuters, AP News, and CNN.

ALSO- A rising Ebola death toll is prompting the World Health Organization’s (WHO) concern over the scale and speed of the outbreak. In response to the worsening epidemic, the US invoked a public health law on Monday to restrict entry from the affected region after a US national in the Democratic Republic of the Congo tested positive for the strain. As of today, Ebola has claimed 131 lives, according to DRC’s Health Minister Samuel Roger Kamba, with more than 500 suspected cases reported across the Congo.

^^Read more on: CNN, BBC, and The Guardian.

In a market defined by geopolitical risk, inflation, currency volatility, and declining interest rates, knowing how to manage your money has never been more important, and yet few people are really good at it.

The default in Egypt has traditionally been to dollarize, buy real estate, or stash your extra cash in a high-yield certificate of deposit, but that playbook is dying.

With an illiquid real estate market, the era of ultra-high-yield deposits coming to an end, and a rapidly expanding ecosystem of digital investment options, investors are looking for new, smarter opportunities.

In this four-part series, EnterpriseAM Money Matters will walk you through smart personal finance decisions regardless of your age, income, or starting point.

Coming straight to your inbox — tomorrow, May 20.

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

• The Central Bank of Egypt has quietly tightened oversight on how commercial banks interact with non-banking financial institutions, staying ahead of a growing debate over the rapid expansion of market-based finance and consumer credit standards;
• Egypt’s electricity tariff hikes are putting the informal lighting market on the back foot. With payback periods on smart, energy-efficient systems now running 18-36 months, buyers are turning down cheap sticker prices for long-term savings;
• The International Finance Corporation signed a USD 40 mn senior loan agreement with Sawiris-backed beet sugar producer Nile Sugar Company to fund the cultivation of some 13.6k feddans of sugar beet in Minya alongside project infrastructure, machinery, and working capital.

☀️ TOMORROW’S WEATHER- Things are finally cooling down in C-town tomorrow, with a sunny high of 30°C and a breezy low of 19°C, according to our favorite weather app.