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WHAT WE’RE TRACKING TONIGHT

El Sisi set to discuss political and economic ties at EU-Egypt Summit

Good afternoon, friends. The news cycle isn’t ready to wind down for the weekend just yet, though the pleasant breeze is more than making up for the crunch.

THE BIG STORY TODAY-

? The first-ever EU-Egypt Summit over in Brussels is well underway, with President Abdel Fattah El Sisi in attendance and set to meet European Council President António Costa and European Commission President Ursula von der Leyen to discuss strengthening political and economic ties under the EU-Egypt Strategic and Comprehensive Partnership and build on Egypt’s role as a key stabilizing force in the region, according to an European Council statement.

Cooperation, Gaza, and illegal migration topped El Sisi’s meeting this morning with European Commission Vice President Kaja Kallas, according to an Ittihadiya statement. El Sisi is also set to hold a series of meetings on the sidelines of the visit, including with King Philippe of Belgium and several senior EU officials and European leaders, according to a separate Ittihadiya statement.

Some big names from the public and private sectors are taking to the stage to discuss investment, industrial transformation, innovation, and much more, as part of a packed agenda (pdf) at an accompanying high-level event. Representing Egypt’s private sector are MNT-Halan CEO Mounir Nakhla, Federation of Egyptian Industries Chairman Mohamed Elsewedy, and Federation of Mediterranean Business Organizations President Tarek Tawfik. Also offering their insights from the public sector are Investment Minister Hassan El Khatib, Planning and International Cooperation Minister Rania Al Mashat, and Foreign Minister Badr Abdelatty.

REMEMBER- Last year, the EU pledged a EUR 7.4 bn package of loans, grants, and investments through to 2027 and inked a joint strategic and comprehensive partnership with Egypt. The package included a EUR 1.8 bn investment protection mechanism, EUR 5 bn in concessional loans to provide macro-financial assistance, and EUR 600 mn in grants.

The EnterpriseAM Egypt Forum is over. The insights are just getting started.

This year's forum was packed with actionable intelligence on the future of Egyptian business. To make sure you don't miss a thing, we're launching the EnterpriseAM Forum Playback.

Every Thursday, you'll receive a special newsletter breaking down one key session — from the future of work to getting capital markets off life support. We'll also drop a companion podcast in our EnterpriseAM Egypt podcast feed so you can listen on the go.

Want more? We're soft launching our YouTube channel where we've dropped video highlights.

THE BIG STORY ABROAD-

? A large-scale Russian aerial attack on Ukraine killed at least six people, including two children, left at least 17 others wounded, and caused a nationwide power outage. Residential areas and energy infrastructure sites were targeted across Kyiv, the Poltava region, the southeastern city of Zaporizhzhia, and the port city of Izmail. The attack came just hours following US President Donald Trump’s statement that a now-shelved meeting with Russian President Vladimir Putin would be futile after Russia rejected Trump’s ceasefire proposal. (BBC | Reuters | Guardian | CNN | Bloomberg | Associated Press)

CLOSER TO HOME- US Vice President JD Vance expressed his optimism about the future of the ceasefire agreement in Gaza during his visit to Israel, which ends tomorrow. “There are going to be moments where it looks like things aren’t going particularly well. But given that, and given the history of conflict, I think that everybody should be proud of where we are today,” Vance said.

The vice president further added that the ceasefire could lead to more Israeli alliances in the region. “I think this Gaza deal is a critical piece of unlocking the Abraham Accords,” he said in a joint press conference alongside Israeli Prime Minister Benjamin Netanyahu in Jerusalem earlier today. (Guardian | Bloomberg | BBC | Axios)

REMEMBER- Earlier this week, the Israeli military launched an aerial attack on the enclave after accusing Hamas of violating the ceasefire agreement, killing at least 97 Palestinians since the ceasefire took effect on 10 October.

☀️ TOMORROW’S WEATHER- We’re in for an uncharacteristically hot October day in the capital tomorrow, with a high of 34°C and a low of 23°C, according to our favorite weather app.

Sam Altman finally gets AI right

?‍? After years of threatening to replace human jobs and creativity, OpenAI may have finally cracked the code on how AI should actually work: as a helpful assistant rather than an attempted substitute for human thinking. The company’s newly launched Atlas browser, announced yesterday and currently only available on MacOS, may represent what we hope to be a fundamental shift in philosophy — one that treats AI as a tool to enhance what humans want to do online, not as a system trying to do everything for them.

Remember Clippy? Atlas lets users open a ChatGPT sidebar in any browser window to summarize content, compare products, or analyze data from any site. The key word here is “sidebar” — ChatGPT isn’t trying to replace your browsing experience as much as it is just sitting alongside it, ready when you need help… though sometimes piping up even when you don’t, reminding us that the more things change, the more they stay the same. RIP Clippy (1997-2003… 2025-??).

Reinventing the wheel… “We think that AI represents a rare, once-a-decade [chance] to rethink what a browser can be about,” OpenAI CEO Sam Altman said during the announcement livestream (runtime: 22:15). Atlas’s “agent mode” can complete tasks on users’ behalf, like finding an online recipe and automatically purchasing all the necessary ingredients through Instacart, or book reservations or flights, or help edit a document you’re working on.

…that has already been reinvented, and reinvented, and reinvented. OpenAI isn’t the first to bet on this assistant-focused approach to AI browsing, but they may be the loudest to do it. Perplexity, initially an AI-powered search engine gunning for Google Search, released their browser, Comet, in July, which comes with a built-in AI assistant that lives in Comet’s sidebar “that can answer questions about what you’re seeing on your screen, similar to Gemini’s integration with Google Chrome… in addition to summarizing or explaining text, it can also carry out agentic tasks like booking a meeting, sending an email, or buying a product.” So has Microsoft. So has Arc. So has Dia.

But perhaps most surprisingly, Altman is framing Atlas as a good browser first — a web tool with AI enhancement, not an AI system that happens to access websites. Atlas embeds helpful features throughout the browsing experience without forcing them on users. Its browser memory is used for context, not surveillance (as far as we know), letting Atlas “remember pages you've visited, tasks you've started or ideas you've explored, just like an actual assistant,” and more crucially, “you can edit, view or delete memories anytime.”

Inverting the search paradigm: Ryan O’Rouke, OpenAI’s lead designer for Atlas, explained the search philosophy: if you ask for film reviews, “a chatbot-style answer will pop up first, rather than the more traditional collection of blue links,” but users can still switch to tabs showing website links, images, videos, or news. Why? For many queries — Is paprika toxic to cats? How much protein is in a cup of Greek yogurt? — people don’t want to sift through dozens of blue links, they want an answer. But for queries where you will want sources — What are economists saying about the new tariff policy? Which fitness trackers have the best reviews? What are the side effects of this medication? — the links are still there.

Our favorite feature? You can opt in or out at any time. You write the email, and AI can polish a sentence up — if you want. Want to research and book a trip? It can gather options and handle the clicking, leaving the final calls to you. Instead of trying to take over every step of every process, Atlas lets AI do the grunt work, the repetitive stuff, the data gathering — exactly what computers have always been best at.

Market reax: Stocks seem to understand the significance — the shares of Google parent Alphabet were down 1.8% on closing following the announcement yesterday. Despite Google Chrome’s 71.9% global market share, Atlas represents “fresh competition” not just because it’s trying to out-Chrome Chrome, but because it’s offering something genuinely different. Analyst Gil Luria calls the move a precursor for OpenAI “starting to sell ads,” which has been on the horizon for some time now despite Altman’s objections, and also spells trouble for Google, whose monopoly has engendered a “suck it up or leave” treatment of advertisers and publishers who previously had nowhere else to go.

A dance of life and death

? This year’s recipient of the Nobel Prize in Literature, Hungarian author László Krasznahorkai, boasts a body of work that probes contemporary realities in the most unflinching and painstaking ways. Published in 1985, his debut novel Satantango, later translated into English by George Szirtes in 2012, is a standout among his many dystopian works, portraying a bleak vision of ordinary life that feels distant yet eerily familiar to our present day. Krasznahorkai, long-celebrated by critics, has also left his mark on film — most notably through his screenwriting collaboration on the six-hour film adaptation of Satantango directed by Béla Tarr.

Satantango follows a barren estate in Hungary where lower-class families dwell on the edge of destitution, in a contained chaos. The story starts with an up-close look at Mr. and Mrs. Schmidt and their disabled neighbour Futaki, who, despite their seemingly long-standing and close relationship, fight over a sum of money — though it remains unclear for a while where that money came from. With a focus on Futaki, the first part of the novel reveals his inner thoughts and his desire to run away from the town with fleeting, distant hopes for a better life somewhere else. His character and his detailed observations carry a deep-seated existential dread that foreshadows the rest of the novel’s tone.

The story picks up when two men, who were reported dead almost two years earlier, are spotted alive in town. As we follow the men, Irimias and Petrina, the narrative takes on a Kafkaesque quality as they navigate an unclear exchange with government officials in a seemingly communist, militaristic system. Upon the arrival of the two men in town, we learn that Irimias is highly revered in the community, with most characters attributing the town’s downfall to his absence.

The rest of the narrative shifts from character to character and the questions only pile up as the course of events grows more disorienting, more unclear, and less chronological. The story builds heavily on religious motifs, with Irimias representing a sort of prophet and savior to the community, promising them new beginnings in another town. In reality, he takes advantage of the community’s weakness and eventually fails to fulfill his promises.

Despite its modern themes of dystopia and failed regimes, the novel feels more classic in its epic-like journey and multitude of characters, storylines, and themes. Krasznahorkai uses long-winded sentences that are overwhelmed with details but give the reader a visceral experience of this tragic world. Satantango is well worth the demanding, perhaps slow read, because its depiction of perfect nihilism stands in stark contrast to what we yearn for — optimism and meaning.

WHERE TO FIND IT- You can find the English translation of Satantango as an eBook on Kobo and Amazon, or listen to its audiobook on Audible.

Los Blancos, Reds, and Chelsea in the Champions League + Al Ahly return to the Nile League

⚽ The third round of the Champions League’s league phase wraps up today with nine anticipated fixtures.

Real Madrid will be welcoming Juventus onto the pitch at Santiago Bernabéu at 10pm. Los Blancos are hoping to catch up with three teams sitting on maximum points after yesterday’s results, while the Bianconeri desperately need a win after disappointing draws in their opening two matches.

Chelsea will face the bottom-place Akax a Stamford Bridge at the same time, eyeing a victory after collecting just three points from their first two outings.

Liverpool will be travelling to Eintracht Frankfurt for a crucial matchup, also at 10pm. The Reds are walking onto the pitch wounded after their home defeat to Manchester United in the league, and last round’s loss to Galatasaray, needing a win to get back on track.

Other matches to keep an eye out for tonight:

Athletic Bilbao vs. Qarabağ (7:45pm);
Galatasaray vs. Bodø/Glimt (7:45pm);
Bayern Munich vs. Club Brugge (10pm);
Sporting Lisbon vs. Marsille (10pm);
Monaco vs. Tottenham Hotspur (10pm);
Atalanta vs. Salvia Prague (10pm).

Al Ahly will be locking horns with Al Ittihad at Cairo Stadium later today at 5pm for the 11th round of the Nile League. The Red Devils sit fourth on the leaderboard with 18 points, and could top the table with a victory — they’re only two points behind leaders Ceramica Cleopatra.

Al Masry also have their sights set on the top spot, a goal they’ll work towards during tonight’s final against Smouha at 8pm. The Port Said Eagles also boast 18 points, but sit in second on goal difference with an extra game under their belt, and a chance to claim the crown.

Wust El Balad take the stage at the Cairo Jazz Festival

MARK YOUR CALENDAR-

? Alt-scene pioneers Wust El Balad are headlining this year’s Cairo Jazz Festival. Catch them live at AUC Tahrir Square on Friday, 31 October and jam out to their most nostalgic hits. You can get your tickets on Ticketsmarché.

HAPPENING THIS WEEK-

CJC 610’s Wednesday Night Live is turning up the energy with Amira Adeeb, Zaid Khaled, DJ duo Issa & Assouad tonight. Expect a night full of fresh sounds and great vibes. You can grab your tickets from CJC 610’s website.

The Downtown Contemporary Arts Festival is back and running until Sunday, 26 October, bringing Cairo to the forefront through a series of performances, panel discussions, and workshops. Don’t miss the special production of Stop Calling Beirut, an emotional tribute to the capital city, showing tonight and on Thursday, 23 October at Jesuit Cultural Center. Tickets available on Ticketsmarché.

This one’s for the readers: The Luxor Book Fair returns for its fourth year, running until Friday, 24 October. Up for a trip over the weekend? Don’t miss the fair’s wide selection of books and the special program including poetry readings, literary discussions, workshops and musical performances at the city of 100 gates.

HAPPENING LATER-

Cairokee live? Unmissable. The superband is back for another unforgettable night at El Malahy Arena on Friday, 24 October. Sing your heart out to their culture-defining anthems and grab your tickets now on Ticketsmarché before they sell out.

Get ready for your favorite summit: Sync Summit is back for its fourth year, taking place at O West for three consecutive days on Thursday, 30 October, Friday, 31 October, and Saturday, 1 November. This year’s theme Creative Range brings impactful talks, workshops, curated portfolio reviews, and hands-on labs, with leading voices from all creative industries. Don’t miss out on the chance to learn and grow as a creative — get your tickets on Ticketsmarché.

Jazz enthusiasts, gather ‘round. This year’s Cairo International Jazz Festival kicks off on Thursday, 30 October, and runs until Friday, 7 November. Don’t miss out on live concerts, masterclasses, and film screenings across venues in Cairo and Alexandria. You can purchase tickets from the Cairo Jazz Festival website.

What the markets are doing on 22 October 2025

The EGX30 fell 0.3% at today’s close on turnover of EGP 5.5 bn (18.5% above the 90-day average). International investors were the sole net sellers. The index is up 26.4% YTD.

In the green: Egypt Aluminum (+6.5%), Oriental Weavers (+3.5%), and Misr Cement (+2.3%).

In the red: Abu Qir Fertilizers (-7.0%), EFG Holding (-2.7%), and Qalaa Holdings (-2.5%).

THE ENTERPRISEPM ENTERTAINMENT CALENDAR

?️ OCTOBER

1-26 October (Wednesday-Sunday): Downtown Contemporary Arts Festival.

12 October - 16 November (Sunday- Sunday): Cairo International Art District (CIAD) in Downtown Cairo.

16-24 October (Thursday-Friday): Gouna Film Festival.

22 October (Wednesday): Amira Adeeb, Zaid Khaled, Issa and Assouad at CJC 610.

22-23 October (Wednesday-Thursday): Stop Calling Beirut at Jesuit Cultural Center.

23 October (Thursday): Gaza O My Joy at Falaki Mainstage Theater.

24 October (Friday): Ali Quandil at Theatro Arkan.

24 October (Friday): Cairokee at El Malahy Arena.

24 October (Friday): The Glow Run, Palm Hills New Cairo.

24 October (Friday): Breast Cancer Run at District 5.

25 October (Saturday): Ya Rab Bent at Theatro Arkan.

30 October - 7 November (Thursday-Friday): Cairo International Jazz Festival.

30-31 October (Thursday-Friday): Sync Summit at O West.

31 October (Friday): Wust El Balad at AUC Tahrir Square.

31 October (Friday): Daylight saving time ends.

NOVEMBER

1 November (Saturday): Sync Summit at O West.

4 November (Tuesday): Leffi Beena Ya Dunya stand-up show at CJC 610.

11 November - 6 December (Tuesday - Saturday): Forever is Now at the Great Pyramids of Giza.

14-24 November (Friday-Monday): Art Decoratifs Exhibition by Art D’Egypté at the Egyptian Museum in Tahrir.

15 November (Saturday): The TriFactory’s El Gouna Half Marathon, El Gouna.

21-22 November (Friday-Saturday): Traverse Summit at Hydeout, Hyde Park.

21-29 November (Friday-Saturday): Cairo Design Week.

DECEMBER

13 December (Saturday): Marakez Pyramids Half Marathon by The TriFactory.

19 December (Friday): DJ Tiësto at the Giza Plateau.

20 December (Saturday): Ibrahim Maalouf at Concert Hall, New Capital.

December: Al Rawi Awards submissions open.

JANUARY

30 January (Friday): Cairo Marathon normal registration ends.

FEBRUARY

6 February (Friday): Cairo Marathon at Heliopolis, Merryland Park.

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