Good afternoon, friends, and happy hump day. It’s a particularly hot day in Cairo, and we’ve got a brisk, cool issue to balance things out. Have you ever wondered why AI companies feel so comfortable admitting the dangers their models pose? The short answer is fear sells. We dive into it. Elsewhere in today’s issue: an Egyptian chef built a restaurant around gourmet duck sandwiches, and we simply had to try them for ourselves.
First up, the news…
THE BIG STORY ABROAD-
🌐 It’s a busy afternoon on the front pages, with multiple stories making headlines. However, this is getting plenty of ink: US President Donald Trump reportedly made a secret plane swap last month after attending the Nato summit in Ankara, following a credible threat from Iran to fire a missile at his plane. The US president boarded Air Force One in full view of the cameras, before secretly making his way into a catering truck on the opposite side and boarding a smaller military aircraft. The threat came after the US renewed strikes on Iran following failed negotiations, with Trump saying during the summit that he was Iran’s “number one target.”
^^Read more on: BBC, Washington Post, The Guardian, and Reuters.
MEANWHILE- Iran lays out its conditions for a peace agreement — including a demand for compensation over wartime damages — while Trump echoes the Islamic Republic’s call for reparations by demanding they pay compensation for deaths and damages he attributes to Iran’s “decades” of war. Both oil and gold prices were on the rise following Trump’s comments as hopes for an imminent peace agreement faded.
^^Read more on: CNBC, The Guardian, and Reuters.
CLOSER TO HOME- A Syrian court has sentenced former Syrian president Bashar Al Assad — and his younger brother, Maher — to death after a trial in absentia for crimes against humanity and war crimes committed during his 14-year rule over a war-torn Syria, which left mns dead. The sentences mark the first legislative action against Assad since he was ousted and fled to Moscow with his brother in 2024. His cousin and former security official, Atef Najib, was also sentenced to death.
^^Read more on: CNN, Reuters, and The Guardian.
IN OTHER NEWS- Following Colombia’s deadly 7.4-magnitude earthquake yesterday, the government declared a national disaster as rescue teams continue digging through collapsed buildings to pull survivors from the rubble. The collapse of a large section of a hospital in Cali has left patients trapped and 600 in need of urgent care. The death toll is at least 164, with nearly 570 injured, and is expected to rise as rescue efforts continue.
^^Read more on: CNN, Reuters, and The Guardian.
IN THE BUSINESS PRESS- OpenAI ethics lead Chloé Bakalar has jumped ship less than a year after joining the AI giant, adding fuel to the already-scorching fire pertaining to global concern over AI safety. Bakalar’s exit follows several other high-profile departures at OpenAI, including former head of safety systems Johannes Heidecke, who left in early July.
^^Read more on: The Financial Times.

The EnterpriseAM Egypt Forum is back — and we’re devoting the full day to the singular set of questions on everyone’s mind: What does AI actually mean for your company, your people, your economy, your own job — and your kids’ future?
Every session on stage answers one question: “So, what do I actually do about it?”
Join us on 5 October in Cairo. Seats are limited and attendance is by invitation only.
Request your invitation here.
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** CATCH UP QUICK on the top stories from today’s EnterpriseAM:
- The National Telecom Regulatory Authority (NTRA) has referred Egypt’s four telecom operators to the public prosecutor, citing recent violations involving SIM lines registered in users’ names without their knowledge. The NTRA ordered a suspension on the sale and activation of new corporate lines across both private-sector and government entities, while requiring operators to notify existing corporate line holders via SMS to re-register in person or face permanent line cancellation. Operators are mandated to fast-track the integration of biometric verification features;
- Egypt’s annual urban inflation sped up to 14.9% in July, its first acceleration since March — but it came in below the 15.6% that a Reuters poll of analysts had predicted. The pickup reverses three straight months of cooling — 14.9% in April, 14.6% in May, and 14.3% in June — and puts the rate right back where it stood in the spring;
- The government is preparing to issue tax-backed sukuk for the first time, allowing corporate taxpayers to purchase sovereign-yield-bearing certificates today and surrender them to clear future tax liabilities after President Abdel Fattah El Sisi approved the proposal. The government expects the tax-exempt instrument to lower its borrowing costs and debt-service bill, offering a more stable alternative to conventional treasury bills;
- The government intends to more than double the reach of its mandatory Universal Health Ins. system by adding some 12-13 mn people across five governorates — before the first independent evaluation of whether the system works has been published. Bankrolling that expansion is a fresh EUR 150 mn loan from the French Development Agency, signed in June and now moving through constitutional ratification.

Destination Sahel Issue III drops this week, and we’re diving into how the North Coast is adapting to a changing market.
Developers are recalibrating as buyer behavior shifts, luxury retail is carving out a bigger piece of Sahel’s economy, and the wellness and sports scene has become a summer destination on its own.
In this issue, we get into what’s actually changing on the ground, from how developers are adjusting their pitch to where to shop and how to stay active this season.
Coming straight to your inbox tomorrow, 12 August.
☀️ TOMORROW’S WEATHER- Cairo continues to swelter under the summer heat tomorrow, as highs go up to 40°C with an overnight low of 26°C. Up on the North Coast, it’s significantly cooler, with a sunny high of 32°C and a low of 25°C, according to our favorite weather app.




