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WHAT WE’RE TRACKING TONIGHT

Non-oil private sector activity continues to decline in June

Good afternoon, friends, and welcome to the start of another workweek. Things are relatively calm on the homefront, and it seems that the news cycle is still enjoying the long weekend.

THE BIG STORY TODAY-

Non-oil private sector activity continued to decline in June, with falls in new orders and output accelerating throughout the month, resulting in the sharpest reduction in purchasing activity in 11 months, according to S&P Global’s latest Purchasing Managers Index (PMI) report (pdf) for Egypt. The country’s headline figure for June dropped 0.7 percentage points from May to 48.8, marking the fourth consecutive month below the all-important 50.0 mark threshold separating contraction from growth.

Business optimism hit a historic low, which reflects a “subdued hopes for order books, as well as concerns that geopolitical risks could cause greater economic disruption,” said S&P Global Senior Economist David Owen. But despite the drop in business activity and rising pessimism, rates of contraction “remained softer than their respective historic trends,” Owen added.

THE BIG STORY ABROAD-

At least 51 people — including 15 children — were confirmed dead following a flash flood in Texas, which saw water levels of the Guadalupe River rise eight metres in less than an hour. Ongoing search and rescue efforts are looking for 27 girls that were camping along the river. (New York Times | WashingtonPost | Associated Press | Reuters | CNN)

enterprise

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

In today’s issue: We dive into Egypt’s growing glass industry.

☀️ TOMORROW’S WEATHER- Brace yourself for a particularly warm day in the capital tomorrow, as temperatures are expected to rise to 38°C, before cooling down to 21°C at night. Up north, we’re glad to report cooler temperatures, with the mercury set to peak at just 28°C before slightly dropping to 24°C at night, according to our favorite weather app.

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FOR YOUR COMMUTE

AI might be creating more jobs than it is ending

With the global workforce facing an AI-caused overhaul, a significant percentage of professionals find themselves in a rough spot. Entry level jobs as we know them are beginning to disappear, and many skills, once essential, are slowly proving themselves redundant, according to LinkedIn’s 2025 Work Change Report (pdf). As major companies conduct considerable layoffs in favor of AI agents, it’s becoming increasingly difficult to future-proof one’s career — yet, according to Forbes, AI can help with that.

If AI costs you your job, it can get you another. Global consulting firm McKinsey estimates that between 400-800 mn individuals face job displacement by 2030. Yet as many jobs begin to disappear, others are starting to emerge. You can blame (and thank) AI for both. According to Forbes, the right thing for professionals to do right now is not to focus on what AI is replacing, but rather what it is creating. The business publication notes several “weird” careers that will be in-demand over the next decade.

AI will likely create more jobs than it wipes out, according to McKinsey’s report. So, what do these jobs look like? “The future workforce will be more hybrid, combining machine intelligence with human judgment,” Gavin Yi, CEO of Yijin, a Chinese CNC machined parts manufacturer, tells Forbes. According to Yi, prompt engineering is the new coding. The job essentially entails creating highly specific prompts to train AI models, such as ChatGPT, and — according to the CEO — is already in demand.

With AI comes ethical challenges, and with ethical challenges come ethics officers. Careers in AI ethics are also expected to take off by 2030, and it’s clear why. AI has already posed lots of ethical challenges, particularly pertaining to copyright laws, discrimination, and manipulation. AI’s adoption across myriad medical fields also calls for healthcare technicians. Manufacturing hubs are choosing to go with “ robots ” in lieu of human workers, leaving room for AI maintenance specialists to keep an eye on the process.

Transferable skills come into play. From sustainability officers tracking energy consumption to AI literacy educators and “AI-enhanced” creators, it appears that certain careers aren’t necessarily going extinct, they’re just getting a face-lift. In this day and age, it becomes pivotal to keep track of industry changes, and follow suit. Seventy percent of the skills used today are set to change by 2030, and now is the time to get back in the classroom.

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ON THE TUBE TONIGHT

It’s game over for Squid Game — or is it?

? A killer finale for a killer Korean drama. Picking up where season two left off, popular Netflix drama Squid Game returns for a third and final season. Following a polarizing second season that sparked controversy amongst viewers, the third season has garnered strong reactions and achieved record viewership on Netflix since its debut in late June.

So, what’s going on in season three? After the failed coup attempt by Seong Gi-hun (player 456), the folks in charge tighten their grip on the players. A vote is quickly held to decide whether or not to continue playing, and despite all the bloodshed they’ve experienced, the majority decides to keep going, eyes set on the grand prize. Over six episodes, players take part in three incredibly bloody games, one of which leads to the birth of player 222’s baby — an event that would come to define the season.

Of all three seasons of Squid Game, this one is undoubtedly the darkest, with several main characters getting devastating endings. While the show’s ending sparked widespread dissatisfaction, we’d argue that it made sense in the grand scheme of things. To be frank, we weren’t really expecting a happy ending. Had it been one, it would not have been fitting.

Are we getting a US Squid Game? With the appearance of Cate Blanchett at the end of the final episode, many are speculating that a US spin-off might be on its way, with some suggesting that it might be directed by David Fincher. Blanchett’s cameo, however, didn’t please everyone, with many fans of the Korean series arguing against the story’s westernization. With the show’s creators neither confirming nor denying the rumors yet, there’s a chance we might not be bidding farewell to the games any time soon.

WHERE TO WATCH- You can stream the latest season of Squid Game on Netflix. You can also find the trailer on YouTube (runtime: 2:00).

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Sports

The four semi-finalists of the Club World Cup

Your daily update on the Club World Cup: Al Hilal and Palmeiras’ journeys come to an emotional end, whereas PSG vs. Bayern Munich and Real Madrid vs. Borussia Dortmund remind us why we love football.

Al Hilal bids the tournament farewell. Al Za’eem exited the quarter finals following a 2-1 defeat against Fluminense despite a strong performance. Although they statistically dominated the match, the Saudi players showed signs of physical fatigue, especially after four incredible periods against Manchester City in the round of 16. Al Hilal’s Portuguese players, João Cancelo and Rúben Neves, appeared to be emotionally impacted by the passing of their close friend, Diogo Jota, the Liverpool forward who died in a car accident early Thursday.

One Brazilian club is enough. Chelsea sent Palmeiras packing with a 2-1 victory, leaving Fluminense as the sole Brazilian — and South American — representative in the semi-finals. Europe, however, dominates with three clubs advancing.

Fluminense and Chelsea will face off in the first semi-final match on Tuesday, 8 June.


The European champion gets revenge. PSG successfully avenged their 1-0 defeat to Bayern Munich in the Champions League group stage late last year. The French club secured a 2-0 victory, despite ending the match with just 9 players due to the red cards received by their defenders Willian Pacho and Lucas Hernández.

A last-minute thrill. As the match between Real Madrid and Borussia Dortmund entered injury time, audiences thought the Merengues had it in the bag, seeing as they were in the lead 2-0. The tides turned in the final six minutes, which saw three goals, a red card, and a miraculous save by Thibaut Courtois that guaranteed a crucial 3-2 victory for Real Madrid.

PSG and Real Madrid will face off in the second semi-final match on Wednesday, 9 July.

This publication is proudly sponsored by

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OUT AND ABOUT

Number One heads up north

MARK YOUR CALENDAR-

? Number One is heading up north. Mark your calendars for Friday, 25 July, because Egyptian singer and rapper Mohamed Ramadan will be bringing the beat to the North Coast’s Porto Golf Marina. Ready to join the “Mafia”? You can grab your tickets from Ticketsmarché.

HAPPENING THIS WEEK-

A bit of dramatics never hurt anyone. On Tuesday, 8 July, Soul lounge wants you to come over and act the fool…literally. The Maadi hangout spot is hosting a “dramatically playful” night with all sorts of ridiculous games, improv challenges, and a whole lot of spontaneity in collaboration with Tafaaul. Sold already? You can secure your spot through the link in Soul’s bio on Instagram.

Need a dash of folklore in your life? Reconnect with your Egyptian roots at Theatro Arkan on Thursday, 10 July, as the all-Egyptian, all-women band Tablet el Sitt take the stage. Tickets are available through Ticketsmarché.

Ready to face a quadruple threat? On Friday, 11 July at Marina’s Roman Theatre, iconicpop stars Mohamed Fouad, Ehab Tawfik, Hamid El Shaeri, and Hesham Abbas will be bringing the heat to the North Coast as part of the Tiatro Romano Summer 2025 Festival. Oh, you’re humming 2000s hits already? Head to Ticketsmarchè to secure your spot.

HAPPENING LATER-

Marassi’s music festival is going strong, and on Saturday, 12 July, Egyptian singer AmalMaher and Lebanese singer Walid Toufic will be lighting up the stage at The Address Beach Resort. Tickets can be purchased through Ticketsmarchè.

Sharmoofers take on New Cairo. On Friday, 18 July, the crowd favorite Egyptian band will be bringing their signature wild energy to New Cairo’s Family Park with an eight-hour concert. If that sounds like a fun night to you, we’d suggest brushing up on the lyrics of your favorite Sharmoofers hits. Tickets can be purchased through Tikgo.

Ready to swim your way to glory? North Coast’s Ghazala Bay is hosting an open water sports festival, complete with open water swimming and a slew of family-friendly water activities on Saturday, 26 July. You can secure your spot through Ticketsmarché.

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GO WITH THE FLOW

What the markets are doing on 6 July 2025

The EGX30 rose 0.3% at today’s close on turnover of EGP 4.5 bn (8.8% below the 90-day average). Local investors were the sole net buyers. The index is up 10.7% YTD.

In the green: Ibnsina Pharma (+4.7%), Egypt Aluminum (+3.1%), and Fawry (+3.0%).

In the red: EFG Holding (-1.6%), Egypt Kuwait Holding -USD (-1.5%), and CIB (-1.4%)

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INSIDE INDUSTRY

Could Egypt become a global glass manufacturing hub?

The glass industry is becoming a sizable part of the country’s manufacturing and export-orientated industries, driven by significant investment momentum and localization directives from the government.

There are now many different types of glass being produced locally, including flat glass for building windows and facades, glass bottles and jars, medical ampoules, curved automotive glass, decorative glass, and solar glass.

The container glass industry is expected to register a compound annual growth rate of 6.4% between 2025 and 2030, reaching 1.5 k kilotons, compared to 1.1 k kilotons in 2025, according to a report from Mordor Intelligence. The country’s geographical location between Europe, Asia, and Africa gives local manufacturers an advantage to expand exports, according to the report. Companies are actively seeking a larger share of the Saudi market through strategies such as research and development, mergers and acquisitions, product innovation, and market expansion to gain higher market share in the country, according to Mordor Intelligence.

Just last week, China’sDeli Glass Co broke ground on a new USD 70 mn factory for glassware goods, according to a statement from the Suez Canal Economic Zone (SCZone). The first phase of the factory in the China-Egypt TEDA trade zone is expected to kick off operations in 2H 2026.

Deli Glass joins a growing number of glass manufacturing projects choosing the SCZone as their base as a glass-focussed ecosystem steadily builds itself up. Other companies developing big ticket glass projects include China Glass Holding subsidiary CNG Egypt New Energy Glass’s under-construction USD 300 mn factory, Saint-Gobain’s plan to invest EUR 300 mn through 2026 in glass factories in Egypt, and Dr. Greiche’s EGP 500 mn automotive glass complex.

Looking ahead, the glass industry sector is expected to receive investments over the next two years of up to USD 200 mn, which will increase the sector's production capacities by 25-30%, Building Materials Industry Chamber’s glass division head Mohamed Khattab told EnterpriseAM. He added that Egypt has become an important exporting country for building materials on the back of its high-quality local raw materials.

Localizing key input production inputs can help enable the localization of more complete products later down the line, with glass being a key component of many high-value industries. Take the automotive industry, where the option of locally made, high quality, and competitively priced automotive glass and rear view mirrors can help persuade automakers to move assembly — and hopefully even production — to Egypt. The localization of solar glass had also been key in attracting a growing number of solar competent factories to the country, further building sector-specific ecosystems that fuel future expansions.

Certain types of glass have also been highlighted by the government as important localization targets. Those looking to invest in and produce automotive glass and solar energy components will be offered incentives and facilities as part of the state’s broader efforts to localize 23 priority industries, announced late last year.

Consumer preferences and a sustainability push in manufacturing is also opening up demand for glass. Environmental initiatives to reduce plastic packaging are boosting demand for glass packaging, especially in the food, beverage, and pharmaceutical sectors, Khattab told us.

But despite a growing sector and government support, rising energy prices are a concern for the industry, with rising electricity prices for manufacturers squeezing margins, a representative from a local glass manufacturer told EnterpriseAM.


Your top industrial development stories for the week:

  • A total of 36 fully equipped units are being offered up under the third phase of the Robbiki Leather City in Badr City, the Industry Ministry said late last week. The units with factory sizes ranging from 121 to 2k sqm — for rent or ownership — will be on offer until 27 July through the Made in Egypt platform.
  • Zhejiang Holding is planning to invest an initial USD 20 mn in Egypt’s garment and textile sector, with the goal of scaling up to USD 50 mn over the next five years and Jiangsu Haite Fashion wants to build a USD 20 mn garment factory, aiming to tap into the country’s freetrade agreements for exports to Europe and the US.
  • Cement companies have a one-month deadline to restart production, under a directive from Deputy Prime Minister for Industrial Development Kamel El Wazir. The Industry Ministry and other state entities will begin a nationwide inspection of cement factories to ensure that factories are able and committed to restarting production.

JULY

8 July (Tuesday): Dramatically playful night at Soul lounge.

10 July (Thursday): Tablet El Sitt at Theatro Arkan.

11 July (Friday): Paradise Ibiza at Solare Ras Al Hekma.

11 July (Friday): Mohamed Fouad, Ehab Tawfik, Hamid El Shaeri, and Hesham Abbas at the Roman Theatre.

12 July (Saturday): Amal Maher and Walid Toufic at The Address Beach Resort.

17 July (Thursday): Autostrad at El Sawy Culturewheel Theatre, Nile University.

18 July (Friday): Stephan Jolk and Adrien Apache at ESCĀ Beach Club.

18 July (Friday): Sharmoofers at Family Park.

18 July (Friday): Party on Wheels in Ramla.

19 July - 30 September (Saturday - Tuesday): Art Space at New Alamein.

25 July (Friday): Mohamed Ramadan at Porto Golf Marina.

26 July (Saturday): Open water festival at Ghazala Bay.

31 July (Thursday): Massar Egbari at El Sawy Culturewheel Theatre, Nile University.

AUGUST

1 August (Friday): The Martinez Brothers at Sol Beach.

6-30 August (Wednesday - Saturday): Egypt Sculpture Symposium at New Alamein.

8 August (Friday): &ME at Sol Beach.

8 August (Friday): All Day I Dream at ESCĀ Beach Club.

OCTOBER

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

30 October - 22 November (Thursday-Saturday): Forever is Now at the Great Pyramids of Giza.

DECEMBER

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

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