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WHAT WE’RE TRACKING TONIGHT

China eyes duties exemption for Egyptian exports

Good afternoon, friends, and welcome to the start of a fresh, new workweek — the last one before we say goodbye to daylight saving time, so be mindful of any scheduling adjustments coming up.

THE BIG STORY TODAY-

? Egyptian goods could be entering China dutyfree as early as the end of November, as China continues to boost diplomatic and economic relations with African nations, unnamed government sources told Al Borsa. The news follows Chinese Ambassador Liao Liqiang’s comments Thursday that the world’s second most populous nation was studying exempting Egyptian exports from import duties, according to a Trade Ministry statement.

The move will play a big role in rebalancing Egypt’s trade relationship with the world’s factory, along with bolstering exports and supporting USD investment flows, Cairo Chamber of Commerce’s Exporters Division head Ahmed Zaki told EnterpriseAM. Chinese exports to Egypt outnumbered those going the other way by 29x, with Egypt exporting only USD 578 mn worth of goods, compared to China’s USD 16.8 bn, according to the Chinese Foreign Affairs Ministry. State statistics agency Capmas’ count has Chinese imports at a slightly smaller USD 15.7 bn and Egyptian exports roughly the same.

China is working to give no-tariff access to all of the 53 African nations China has diplomatic relations with, Chinese Foreign Minister Wang Yi said at the opening of the China-Africa Economic and Trade Expo in June. The scrapping of tariffs across the whole continent extends its existing policy for least developed countries to include middle-income nations, including Egypt, while adding additional support to least developed countries.

THE BIG STORY ABROAD-

? Two suspects were arrested over the theft of the French crown jewels from the Louvre museum’s Apollo gallery last week, French media reports. One of the two men arrested was caught ahead of escaping to Algeria by way of Paris Charles de Gaulle Airport. Both men are in their thirties and were reportedly already known to the police. The arrests were made Saturday evening. (CNN | BBC)

OVER IN THE BUSINESS PRESS- Less than a day after announcing a 10% tariff hike onCanada, US President Donald Trump has struck several trade agreements with Asian countries in Kuala Lumpur, Malaysia, on day one of a trade-heavy, continent-wide trip which will see him meet with several key Asian leaders, CNN reports.

Leading the news is a trade agreement and critical minerals pact between Trump and Malaysian Prime Minister Anwar Ibrahim. “[Malaysia] is going to be modifying its tariffs and non-tariff barriers, and we intend to have a lot more trade,” Bloomberg quoted US Trade Representative Jamieson Greer as saying. A reciprocal trade agreement was also signed with Cambodia.

A trade agreement between the US and Vietnam is also set to be finalized “in the coming weeks,” Reuters reports. The agreement would see reciprocal tariffs set at 0-20%, according to a joint statement published by the White House. “Vietnam will provide preferential market access for substantially all U.S. industrial and agricultural exports to Vietnam,” the statement reads.

ALSO- The recently reignited trade war between the US and China may be on its way to getting extinguished. US and Chinese negotiators have reached an amicable agreement ahead of the scheduled meeting between Trump and his Chinese counterpart, Xi Jinping, later this week, the FinancialTimes reports. Both countries may also extend the trade truce — currently set to expire on 10 November — according to US Treasury Secretary Scott Bessent.

enterprise

*** It’s Inside Industry day — your weekly Sunday briefing of all things industrial in Egypt. Inside Industry explores what it takes to turn Egypt into a manufacturing and export powerhouse, ranging from initial investment and planning through to product distribution, land allocation, industrial processes, supply chain management, labor, automation and technology, inputs and exports, and regulation and policy.

In today’s issue: We’re taking a deep dive into the Russian Industrial Zone, set to break ground in 2026.

☀️ TOMORROW’S WEATHER- We’re in for a warm, overcast day tomorrow, with temperatures in Cairo set to peak at 31°C before dropping to 21°C, according to our favorite weather app.

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FOR YOUR COMMUTE

Netflix is reshaping TV for distracted viewers

? Streaming content is deliberately being designed for people who can’t stop scrolling. We’ve all been there: halfway through a Netflix series, phone in hand, only vaguely aware of what’s happening on screen. Perhaps you’re scrolling through Instagram, doomscrolling on Twitter, responding to messages, or shopping online… and Netflix knows you’re not watching. In fact, the streaming giant appears to be actively designing content around this behavior.

You’re not alone: According to a 2023 YouGov study, 91% of US consumers at least sometimes look at their phones while watching TV. In markets like the UAE, India, and Australia, over half admit that they engage in what the industry calls “second-screen viewing” — watching TV while simultaneously using another device. But what’s particularly revealing about recent data is that it isn't just a generational issue. While 18-34 year olds in some parts of the world have the highest rate of frequent phone use during TV time, in others it’s the 35-54 age group leading the charge.

The streaming giant hasn’t just noticed this trend — it’s reportedly optimizing for it. Literary culture magazine n+1 recently published a deep dive revealing that Netflix executives have been giving screenwriters a specific directive: “Have this character announce what they’re doing so that viewers who have this program on in the background can follow along.” The result? Dialogue this, from Lindsay Lohan’s Irish Wish: “We spent a day together. I admit it was a beautiful day filled with dramatic vistas and romantic rain, but that doesn’t give you the right to question my life choices. Tomorrow I’m marrying Paul Kennedy.”

“And that’s what you missed on…” This isn’t subtle exposition — it’s characters literally summarizing their recent experiences and future plans as if narrating a recap. While some might dismiss this as lazy or bad writing, multiple sources suggest that it’s part of a deliberate strategy. Actor and director Justine Bateman claimed in 2023 that showrunners have been given notes from streamers that content “isn’t second screen enough.” More recently, Stranger Things actor David Harbour discussed the phenomenon on BBC’s Miss Me podcast, noting that studios are “asking for ideas that people will kind of ignore so they can be on their phone.”

The question isn’t necessarily whether casual viewing content should exist — there’s arguably a place for both demanding prestige television and easily digestible background entertainment. “There’s comfort in having a familiar show or movie on in the background that your attention can dip in and out of,” writer James Hamilton told The Guardian. “It’d be ludicrous to expect anything to demand everyone’s complete, rapt attention. But none of that means people simply cannot pay attention, or that stories should be intentionally crafted for people who have the show on in the background.” The problem arises if every show had to obey second screen rules, which would then flip the question — not to whether we can focus, but to whether what’s being made is worth focusing on.

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ON THE TUBE TONIGHT

Tick… tick… boom

? A ticking bomb: Directed by Kathryn Bigelow (The Hurt Locker, Detroit) and penned by Noah Oppenheim (The Maze Runner, Divergent), A House of Dynamite is a political psychological thriller that rejects high-budget action sequences, convoluted military jargon, and inflated acts of heroism. Instead, the film opts for a slow-paced, real, and raw depiction of the horrors brought upon by the threat of nuclear war.

Another calm morning at the White House: When Captain Olivia Walker (Rebecca Ferguson) begins her shift at the White House Situation Room’s watch room, it’s business as usual — routine tests and suspicious activity that isn’t quite suspicious enough to trigger alarm. The atmosphere turns eerily tense when an unidentified nuclear missile is spotted heading towards the continental US, specifically Chicago, home to over 9 mn people.

After a few moments of denial, the threat is confirmed as real and imminent. The perpetrator? Unknown. Defcon 4 quickly escalates to Defcon 1, and the nation’s top officials, including the president (Idris Elba), join an extraordinarily high-stakes call. As military officials, cabinet secretaries, and experts scramble to understand what’s happening, every attempt to neutralize the threat fails, leaving mns facing imminent death. A chilling question emerges: in the absence of a known offender, should the US stand still, or launch a retaliatory attack against the world’s suspected superpowers and trigger nuclear apocalypse?

Real-time terror: Save for the film’s final act, A House of Dynamite unfolds minute-by-minute, giving viewers a front-row seat to the sheer panic rippling through the Situation Room. Officers, secretaries of state, and the president himself are shell-shocked, paralyzed by impossible decisions. It’s this raw, human portrayal that sets the film apart, creating a truly nerve-wracking viewing experience that will have you on the edge of your seat until the screen fades to black. As the clock keeps ticking, viewers feel every ounce of pressure and fear emanating from the screen.

Psychological horror in political clothing: Despite being classified as a political drama,

A House of Dynamite is psychological horror at its finest. The film’s deliberate pacing, combined with its characters’ profound sense of helplessness, makes for an incredibly engrossing experience. The message is clear: although nuclear war is a threat that constantly looms, absolutely no one will be prepared were it to actually happen.

An ending you’ll either love or begrudgingly hate. Without giving anything away, we’ll say this: A House of Dynamite’s final act defies expectations. Whether you’ll appreciate the choice is another matter entirely. That said, this is a film that veers from the well-trodden Hollywood path.

WHERE TO WATCH- You can stream A House of Dynamite on Netflix. Catch the trailer on YouTube (runtime: 2:10).

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Sports

It’s time for El Clásico

It’s Clásico night: The Santiago Bernabéu stadium will be hosting the showdown between Real Madrid and Barcelona later today at 6:15pm, the marquee feature of the 10th round of La Liga. Just two points separate the rivals in the standings — Los Merengues lead with 24 points, while the Blaugrana sit on 22, making their victory potentially decisive.

Other La Liga matches to keep an eye on today:

  • Real Mallorca vs. Levante (4pm);
  • Osasuna vs. Celta Vigo (8:30pm);
  • Rayo Vallecano vs. Alavés (11pm).


The ninth round of the Premier League delivered plenty of surprises — Liverpool and Chelsea falling, Manchester United climbing into the top four for the first time under Amorim — will the bombshells keep coming?

League leaders Arsenal will be hosting the ninth-placed Crystal Palace at the Emirates Stadium later at 5pm, eyeing an extension of their advantage over the chasing pack.

The third-placed Manchester City will be travelling to the 12th placed Aston Villa at the same time, hoping to pounce onto the top spot in the event of a Gunners slip-up.

Other Premier League fixtures to flip through:

  • Bournemouth vs. Nottingham Forest (5pm);
  • Wolverhampton vs. Burnley (5pm);
  • Everton vs. Tottenham Hotspur (7:30pm).


**Don’t miss out on the fierce competition in the Enterprise Fantasy Premier League — click on this link or use the code 2ez9kt to join.


Other matches we’re following today:

  • Sassuolo vs. Roma (Serie A — 5pm);
  • Leverkusen vs. Freiburg — Bundesliga (5:30pm);
  • Pyramids vs. Ethiopian Medhin — CAF Champions League (7pm);
  • Pharco vs. Ismaily — Egyptian Premier League (8pm);
  • Al Masry vs. Al Ittihad SC — CAF Confederation Cup (9pm);
  • Lazio vs. Juventus — Serie A (10:45pm).

This publication is proudly sponsored by

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OUT AND ABOUT

Celebrating the legacy of Ziad Rahbani

MARK YOUR CALENDAR-

? Paying homage to the legendary Lebanese composer Ziad Rahbani, Cairo Jazz Festival is wrapping up with a tribute concert at AUC Tahrir on Friday, 7 November. In an orchestra led by Wagdy El Fiwy, artists Hazem Shaheen, Hany Adel, Rana Haggag, Nouran Abutaleb, and Alya Nada will be performing a powerful blend of symphonic arrangements with Rahbani’s timeless music. You can secure your spot on Ticketsmarché.

HAPPENING THIS WEEK-

CJC 610’s Komedy Koshk is back to brighten up your week with quality humor and infectious energy. Catch Ahmed Magdy, Mohamed Farghaly, the Zalabya Musical duo, and Paula Rizk this Tuesday, 28 October. You can get your tickets on CJC’s website.

Honor the 50th anniversary of Umm Kulthum’s passing with a musical produced by El Adl Group Studios at The Theater. Experience the legend’s life story through this special musical showing on Thursday, 30 October and Friday, 31 October. Tickets are available on Ticketsmarché.

Get ready for your favorite summit: Sync Summit is back, 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.

HAPPENING LATER-

From Beirut to Sheikh Zayed, comedy show Leffi Beena Ya Dunya is landing at CJC 610. A show you won’t want to miss, comedy trio Mohammad Dayekh, Hussein Kaouk, and Hussein Dayekh will be bringing the laughs on Monday, 3 November and Tuesday, 4 November. Book your spot through CJC’s website or on Ticketsmarché.

In the mood to party by the Pyramids? On Friday, 19 December, world-famous Dutch DJ and producer Tiësto is coming back to Egypt for a solo show at the Giza Plateau. Once voted “the greatest DJ of all time,” Tiësto will surely make this upcoming show one to remember. Tickets are available on Ticket Egypt.

Attention Cairo runners: Registration is now open for Cairo Marathon, happening on 6 February 2026. Claim your spot through Cairo Runners’ website — tickets available until 30 January 2026.

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GO WITH THE FLOW

What the markets are doing on 26 October 2025

The EGX30 rose 1.1% at today’s close on turnover of EGP 6.2 bn (34.3% above the 90-day average). Regional investors were the sole net sellers. The index is up 28.1% YTD.

In the green: Juhayna (+7.4%), Emaar Misr (+6.9%), and E-finance (+6.3%).

In the red: Mopco (-0.9%), Ibnsina Pharma (-0.8%), and Egypt Aluminum (-0.7%).

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INSIDE INDUSTRY

Russia’s USD 5 bn industrial zone in Egypt set to break ground in 2026

? The Russian Industrial Zone could attract investments worth USD 5 bn, with the project slated for completion by 2028, a government source told EnterpriseAM. Infrastructure work is scheduled to begin in 2026, including zone planning and factory development, with the initial construction phase exempt from taxes and fees. The zone’s first phase will span around 500k sqm, Federation of Egyptian Industries board member Kamal El Dessouky told us.

Some 30 Russian companies are currently exploring investment prospects in the zone, the government source said. The firms will benefit from major tax and customs incentives fixed for 49 years under an intergovernmental agreement, as well as a three-year exemption to accelerate construction and production. The Suez Canal Economic Zone (SCZone) offers full tax and customs exemptions on goods produced for export, while domestic sales are subject to Egyptian regulations.

Which sectors will the zone focus on? Egypt is awaiting the list of Russian companies that will participate in the first phase, expected to be finalized before the end of 2025, the government source said. These firms operate in petrochemicals, pharma, automotive, food, and engineering industries. Key sectors also include textiles, technology and information, railways, and building materials, El Dessouky told us.

What’s in it for the Russian firms? The zone’s location provides access to developed infrastructure, the Suez-Hurghada highway, nearby rail links, and more than 70 preferential trade agreements signed by Egypt. Priority sectors align with where Russian exporters see growing African demand, particularly for chemicals.

The project supports Egypt’s Vision 2030 strategy to build a sustainable, manufacturing-led economy, El Dessouky said. Large-scale factories planned for the zone are expected to boost exports, curb inflation, and create new industrial partnerships. Products manufactured in the zone could also be sold locally, helping replace imported goods and strengthen Egypt’s industrial base.

The zone will also give a push to Egypt’s pharma industry, Gamal El Leithy, head of the Pharma Chamber at the Federation of Egyptian Industries told us. It is expected to transfer new technologies to Egypt — particularly in biologicals, biosimilars, and vaccine production.

What’s next? “We are waiting for the Russian side to inform us of the companies that will operate the zone to begin the approval process within the SCZone,” the government source said. Once appointed, the operator will handle factory plot allocations and oversee onboarding of participating companies.


Your top industrial development stories for the week:

  • Chinese state-owned conglomerate CITIC Group is mulling establishing a reverse osmosis desalination plant in Egypt with local partners, the group’s Vice Chairman Liu Chengjun said during a meeting with Prime Minister Moustafa Madbouly to discuss potential partnerships across several sectors.
  • Japanese dairy company Megmilk Snow Brand is mulling setting up a dairy products factory in the SCZone, aimed at serving regional and global demand, the company said during a meeting with SCZone head Walid Gamal El Din during his promotional tour in Tokyo, Al Borsa reports.

?️ OCTOBER

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

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

28 October (Tuesday): Komedy Koshk at CJC 610.

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

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

31 October (Friday): Daylight saving time ends.

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

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

NOVEMBER

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

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

7 November (Friday): Homage to Ziad Rahbani at AUC Tahrir Square.

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

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

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

15 November (Saturday): Carerha Summit at Majarrah, Sheikh Zayed.

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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