Good afternoon, folks, and welcome back. It’s another quiet day at home and we’ve got a brisk issue for you this afternoon. We take a look at a 17th-century Old Cairene mansion that has survived centuries of dynastic shifts and decades of neglect, break down why Apple TV’s latest original didn’t quite stick the landing, and more.
Without further ado, the news…
THE BIG STORY ABROAD-
🌐 “I wasn't worried. We live in a crazy world,” US President Donald Trump said in an interview following the shooting at the White House correspondents’ dinner yesterday, which continues to dominate front pages. Beyond DC, these are some of the stories that have caught our attention:
US-Iran negotiations have stalled after Trump called off the trip to Pakistan on Saturday, as Iranian Foreign Minister Abbas Araghchi heads to Russia for talks with Vladimir Putin. Araghchi blames the US for the breakdown in talks and seeks diplomatic support from Moscow to end the war.
As talks faltered, oil prices edged higher, with Brent exceeding USD 107 per barrel this morning, before settling at USD 106 at the time of publication. Meanwhile, Axios reports that Iran offered a new proposal to the US for reopening the Strait of Hormuz and postponing nuclear talks.
^^Read more on: Axios, BBC, Reuters, and CNBC here and here.
IN THE BUSINESS PRESS- China blocked Meta’s USD 2 bn acquisition of AI app Manus — a Singaporean startup with Chinese roots. The decision came amid scrutiny from both Beijing and Washington over plans to move business offshore. The acquisition has been under investigation since January by Chinese regulators over violating Beijing investment rules.
^^Read more on: CNBC and the Financial Times.
Meet EnterpriseAM MENA+, our new flagship newsletter covering 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.
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** CATCH UP QUICK on the top stories from today’s EnterpriseAM:
- After a month of early nights, things will return to normal after the Cabinet’s crisis management committee decided to scrap the 11pm curfew on commercial operations introduced earlier this month;
- The Finance Ministry is more than doubling the value of total capital injections into indebted state-owned enterprises and agencies, with the figure rising to EGP 125.3 bn in the next budget from EGP 58.6 bn in the current fiscal year;
- The International Finance Corporation is in the final stages of approving a USD 100 mn loan for AlDau Hospitality, part of ADD Properties, to fund a flagship hotel overlooking the Grand Egyptian Museum.
☀️ TOMORROW’S WEATHER- We’re staying cool in Cairo for yet another day, with temperatures reaching a high of just 27°C, with a low of 16°C, according to our favorite weather app.





