Good afternoon, friends, and welcome back to the daily grind. The bad news is that Eid is over — the good news? The weekend is already in sight. Easing back into our pre-Ramadan routines will take some time, so we’ve kept things light and brisk this afternoon. Today, we’re recommending your next midday office meal, making a case for workplace gossip, and more.
THE BIG STORY TODAY-
📍 The Oil Ministry is targeting an addition of around 1 bcf/d to gas production by the end of summer, a government source tells EnterpriseAM. The exploration push includes drilling 101 exploratory wells — part of a 480-well push backed by some USD 5 bn — to ramp up domestic production. The Ministry is amending concession agreements, revising production-sharing mechanisms, and rolling out more incentives to attract further investments in the sector.
^^ We’ll have more on this story in tomorrow’s edition of EnterpriseAM.
THE BIG STORY ABROAD-
🌐 It’s an unsurprisingly busy afternoon in the global press, with the latest developments in the region dominating the digital front pages. Following Iran’s dispute of US President Donald Trump’s claim that Tehran and Washington held talks over the weekend, the White House maintains that discussions remain “fluid.” Meanwhile, doubts are growing over the extent of efforts to end the war as Israel continues to strike Iran and Lebanon. The oil supply crisis persists, sending prices back above the USD 100 mark after a 10% drop on Monday — Brent is currently trading near USD 103 as of the time of publication. Gold prices steadied after an earlier drop, recovering to USD 4.4k per ounce.
^^Read more on: BBC, CNN, CNBC, and Reuters.
IN THE BUSINESS PRESS- US cosmetics giant Estée Lauder is in talks with Spanish beauty group Puig over a merger that would combine two of the world’s biggest beauty players, creating some USD 20 bn in annual revenue. Puig’s stock soared today, jumping as much as 15% after Estée Lauder confirmed the discussions.
^^Read more on: Bloomberg, CNBC, and the The Wall Street Journal.
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** CATCH UP QUICK on the top stories from today’s EnterpriseAM:
- A new round of austerity measures will come into effect starting Saturday, 28 March, including earlier closing hours for commercial activity, reduced public lighting, a shutdown of government buildings in the new capital after work hours, and a temporary slowdown in diesel-intensive projects;
- FinMin is targeting a reduction in the budget deficit to 5.5% for FY 2026-27, down from the 7.3% projected for the current fiscal year. While the ministry had initially aimed for a more ambitious 4.9% deficit in its preliminary draft, the revised target reflects a recalibration to account for ongoing regional tensions;
- Egypt’s Sumed pipeline is still funneling out Saudi crude at full capacity despite Thursday’s drone strikes on the Saudi port of Yanbu. Flows to the pipeline that serves as one of the few remaining avenues for Saudi energy imports have been unaffected by Iranian attacks.
🌧️ TOMORROW’S WEATHER- We’re in for a surprisingly cool (and potentially stormy) day in the capital tomorrow, with temperatures reaching a high of just 18°C, with a low of 11°C, according to our favorite weather app.




