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WHAT WE’RE TRACKING TONIGHT

Deadline for pre-2020 tax dispute requests pushed to August

Good afternoon, friends, and welcome to the fresh start of a new workweek. We’re hitting the ground running today with tax dispute news from the Finance Ministry, updates to industry export standards, and concerns that Big Tech is setting its sights on making a userbase out of our little ones.

THE BIG STORY TODAY-

The Finance Ministry is looking into extending its 12 May deadline for pre-2020 tax dispute requests by three months, a government source told EnterpriseAM. The extension request is currently under review by the ministry, which is looking to ensure that taxable entities receive the maximum amount of benefits from the government’s new tax facilities, the source said.

REMEMBER- The Finance Ministry is rolling out measures to make it more attractive for businesses to settle disputes dating to before 2020, including by paying a fixed percentage of taxes owed. Businesses will be able to make those payments in four installments over a 12-month period without paying late fees or additional interest charges. This comes as part of a larger push by the Finance Ministry to widen the tax base.

THE BIG STORY ABROAD-

There’s no single story dominating the headlines this afternoon, with the global business press continuing to unpack what a post-Warren Buffet Berkshire Hathaway will look like now that the Oracle of Omaha has announced he will step down by the end of the year. All eyes are now on likely successor Greg Abel, who has some sizable shoes to fill. (Financial Times | Bloomberg | Wall Street Journal)

Also ranking high on the world’s digital front pages are elections across the globe, be it the ruling parties of Singapore and Australia securing reflections, and ongoing vote in Romania that looks likely to see the far-right nationalist Union of Romanians take the country’s highest office. (Reuters | New York Times | Guardian)

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 take a look at how the government and private sector are increasingly focusing on accreditation as a key tool to enter local markets and expand abroad.

☀️ TOMORROW’S WEATHER- Blue skies ahead tomorrow in the capital, with the mercury set to rise to a maximum of 30°C throughout the day before falling to 17°C at night, according to our favorite weather app.

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FOR YOUR COMMUTE

Your child is Silicon Valley’s new target

In a significant — and significantly concerning — move that signals the growing influence of AI, Google is making its Gemini AI chatbot available to children under 13, as Silicon Valley companies vie to attract young users with AI products.

Next week, the chatbot will be available to children whose parents use Family Link, a Google service that enables families to set up Gmail and opt into services like YouTube for their children. To sign up for a child account, parents are required to provide the tech company with personal data like their child’s name and birth date. In an email to holders of Family Link accounts informing them that children “will be able to use Gemini” to ask questions, get homework help, and make up stories.

Experts warn of serious risks: Child safety advocates have voiced grave concerns about the rush to put powerful technology in young hands and the serious risks chatbots could pose to child safety. UNICEF, among other children’s groups, have noted that AI systems could confuse, misinform, and manipulate young children who may have difficulty understanding that the chatbots are not human.

This push to introduce AI to children follows a pattern of tech companies developing products specifically for younger users, sometimes with problematic outcomes. In 2021, Meta pulled the plug on Instagram Kids — a suggested platform for children under 13 — after the attorneys general of several dozen US states sent a letter to the company saying that they had “historically failed to protect the welfare of children on [its] platforms.” Other prominent tech companies, including Google, Amazon, and Microsoft, have also paid USD mult-mn fines to settle government complaints that they violated the Children’s Online Privacy Protection Act, which requires online services aimed at children to obtain parental permission before collecting personal information from a child under 13.

From tools to friends: Google’s move doesn’t exist in isolation. It represents a broader race among tech giants to capture market share in the AI space, particularly among younger users. Introducing Gemini for children would accelerate the use of chatbots among a vulnerable population at a time when schools, colleges, and companies grapple with the effects of popular genAI technology.

At the same time, Meta CEO Mark Zuckerberg is pushing an even more ambitious agenda — one where AI serves not just as tools but as friends. The Zuck’s vision of the future is one where we spend more time talking to AI than flesh-and-blood humans, outlining Meta’s broader vision where chatbots are designed to act as emotional support, conversation partners, or even stand-ins for therapists and romantic partners. Meta staffers have raised concerns to Zuckerberg over underage users being exposed to sexually explicit discussions by the company’s AI chatbots, according to The Wall Street Journal. Days later, 404 Media reported that Meta’s AI Studio app was allowing users to create bots that claimed they were licensed therapists, crossing a troubling ethical boundary that could result in users being given dangerous advice.

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ON THE TUBE TONIGHT

You S5: Your average Joe

📺 The fifth and final season of Netflix’s psychological thriller You returns the series to its roots, bringing Joe Goldberg (Penn Badgley) back to New York City and the infamous Mooney’s bookstore where it all began. Netflix wisely released all ten episodes at once — unlike season four’s split release — making for a bingeable concluding chapter to Joe’s last dance with delusion.

The evolution of a killer: Season five picks up three years after the events of season four, with Joe reclaiming his real identity after cycling through various aliases — Will Bettelheim, Jonathan Moore, and Rhys Montrose (IYKYK). He’s now married to bn’aire heiress Kate Lockwood (Charlotte Ritchie), who has worked to scrub his murderous past from public record. Joe has also been reunited with his son Henry, creating what appears to be a perfect nuclear family — until Joe’s darker impulses begin to resurface.

This season shines in its psychological depth (and candor). Joe remains an unreliable narrator, and viewers are given front-row seats to his internal justifications, rationalizations, and self-mythologizing, putting his delusions on full naked display to the audience. As with previous seasons, Joe develops a new obsession, this time with Bronte (Madeline Brewer), a playwright who shares his love of literature and challenges him with her intelligence and self-awareness. Bewer delivers a standout performance of one of the most highly controversial characters throughout all five seasons.

The season finale has proven divisive among fans. No spoilers here, but an interview with the New York Post has shown that no matter how controversial the ending was, it could have been much, much worse. Showrunner Michael Foley admitted that he and co-chair Justin W. Lo had been considering alternate endings until late in the season, including one where Joe (and the audience) would discover that he had been a ghost throughout the entire final season. We thank our lucky stars for what actually took place — as contentious as it was.

Strong performances all around: All of the core cast deserve their flowers, but Anna Camp’s brilliant dual portrayal of Kate’s half sisters Reagan — cold and calculating — and Maddie — sugary, albeit naive — was an easy favorite. Another breakout character, Teddy (Griffin Matthews) was a much needed and well-played straight-man and comedic foil, making him a quick fan favorite.

The best and worst thing about You S5 is that it remains true to the show’s formula from beginning to end. The main storyline has always been about a man lost and looking for love, willing to kill to get it. The season suffers from a sense of sameness and rough pacing. After four seasons, audiences may have hoped for a switch-up that never comes. But when all is said and done, You still remains a killer show.

WHERE TO WATCH- All five seasons are streaming on Netflix, and you can find the trailer on YouTube (runtime: 2:35).

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Sports

The Reds and Sky Blues continue their league battle + Los Blancos cling to hope

The fourth round of the Egyptian Premier League championship round kicks off today with two crucial matches directly impacting the title race. Pyramids FC will be travelling to face Pharco at 5pm, while Al Ahly take on Haras El Hudoud at 8pm.

The Sky Blues currently top the league table with 47 points, with Red Giants hot on their heels in second place with 43 points.


The Merengues refuse to give up despite the growing gap: Real Madrid’s match against Celta Vigo in La Liga’s Matchday 34 kicked off earlier today at 3pm, and is still underway as of publication, with no goals scored as of yet. Los Blancos enter this matchup in second place with 72 points, now a full seven points behind leaders Barcelona, who added to their advantage with a victory over Real Valladolid yesterday.

With just four rounds remaining in the season, the Royal Club is desperate for all three points to keep their title hopes alive, especially with next week’s highly anticipated El Clásico showdown looming large.


Premier League Super Sunday: Matchweek 35 continues with a trio of 4pm kickoffs as Brentford host Manchester United, and Tottenham travel to face West Ham United.

The headlining match will see Chelsea take on Liverpool at Stamford Bridge, with kickoff set for 6:30pm. The Reds will be stepping on the pitch without any pressure after officially securing the league title last week, while Chelsea — sitting fifth with 60 points — desperately need a victory to strengthen their Champions League qualification hopes, especially with the race for European league qualifications intensifying.


Other European league matches to keep an eye on today:

  • Monza vs. Atalanta — Serie A (4pm)
  • Freiburg vs. Bayer Leverkusen — Bundesliga (6:30pm)
  • Roma vs. Fiorentina — Serie A (7pm)
  • Bologna vs. Juventus — Serie A (9:45pm)
  • Real Sociedad vs. Athletic Bilbao — La Liga (10pm)

This publication is proudly sponsored by

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OUT AND ABOUT

From Paris — and London and Toronto — with love

MARK YOUR CALENDAR-

Hiba Tawaji and musical director Oussanma Rahbani are touching down in Cairo after shows in Toronto, London, and Paris, for an unforgettable night of breathtaking music at Hyde Park New Cairo on Thursday, 15 May. You can grab tickets on Tazkarti.

HAPPENING THIS WEEK-

An evening of international classical music at the Royal Philharmonic Orchestra’s concert — led by Swiss maestro Lena-Lisa Wüstendörfer and Egyptian maestro Ahmed El-Saedi, alongside businessman Samih Sawiris on the piano. The concert will be held on the Grand Theater stage at the Cairo Opera House on Wednesday, 7 May at 8pm. All proceeds will be donated to support refugees from Gaza in Egypt. Tickets available on Tazkarti.

Cairo Photo Week returns under the banner of Finding the View, featuring over 14 exhibitions, lectures, workshops, and networking meetups. This year’s festival is taking place from Thursday, 8 May to Sunday, 18 May Downtown and in the Cairo Design District at District 5. You can access all the exhibitions without a paid ticket, but talks and panels require either a day access or a full festival ticket and accept walk-ins. Workshops require advance registration. You can grab your passes from Ticketsmarché.

Omar Khairat’s Grand Show is taking place on Friday, 9 May. Dress up in your finest formal wear and head to the Qubba Palace to experience the iconic composer’s unforgettable talent. Tickets are available on Ticketsmarché.

In the mood for vocals that will have you shedding a tear? Medhat Saleh would like a word. On Friday, 9 May, the Egyptian singer and songwriter will be taking to the stage at the Must Theatre in 6th of October. The concert starts at 8pm, and you can secure your seat through Ticketsmarché.

Calling all coffee enthusiasts: The Egypt Coffee Festival is bringing caffeine laymen and experts together for a full day of java-themed activities, competitions, and discussions. The event will kick off at 9am on Saturday, 10 May at Kamelizer in District 5. You can grab your tickets through Ticketsmarché.

HAPPENING LATER-

Hip Hop fans: Don’t miss the historic Project Meem concert, headlined by rap icons Marwan Pablo and Marwan Moussa sharing the stage. The concert will take place on Friday, 23 May at Cairo Festival City, and tickets are selling fast on Tazkarti.

Fans of smooth jazz have a rare chance to see Michael Bublé live on Monday, May 26 at the New Capital. The Grammy winner promises a landmark concert with his smooth, soulful voice and timeless hits for one special evening in Egypt. Tickets are now live on Ticketsmarché.

It seems German DJ and Record Producer Adam Port couldn’t get enough of Egypt. Bringing the beats to the New Administrative Capital’s Green River on Friday, 30 May, Port will once more turn it up with his signature house beats, sprinkled with a musical dash of jazz and soul. Tickets are available through Ticketsmarché.

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GO WITH THE FLOW

What the markets are doing on 4 May 2025

The EGX30 rose 0.7% at today’s close on turnover of EGP 4.1 bn (8.2% below the 90-day average). Local investors were the sole net buyers. The index is up 8.8% YTD.

In the green: Qalaa Holdings (+4.9%), Palm Hills Development (+4.6%), and Orascom Development (+3.3%).

In the red: Credit Agricole (-1.8%), ADIB (-1.6%), and Eipico (-0.9%).

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INSIDE INDUSTRY

Egypt is working to meet global standards to drive industrial exports

The government and private sector are increasingly focusing on accreditation as a key tool to enter local markets and expand abroad. The push comes amid a government initiative to boost the competitiveness of the country’s industrial sector and exports, with the aim of pushing total exports to USD 130 bn by the fiscal year 2026-27.

The Egyptian Organization for Standardization and Quality (EOS) is at the core of drafting and developing standard specifications, conformity assessment, and accreditation, EOS President and International Organization for Standardization (ISO) Chairman Khaled Soufi told EnterpriseAM. The authority is aiming to achieve international standards to ensure the quality and safety of products and services, he said, adding that they are also working to align Egyptian specifications with global standards to support export expansion plans.

(Tap or click the headline above to read this story with all of the links to our background as well as external sources.)

Why does this matter? Complying with international specifications and standards not only improves the quality of goods, but also improves consumer confidence and the local industry. “Meeting these standards encourages industrial investment and supports sustainability,” Federation of Egyptian Industries’ Specifications and Quality Committee head Kamal El Dessouky told EnterpriseAM.

By the numbers: Egypt has issued more than 9k standards meeting ISO international criteria, which make it easy for manufacturers to export abroad, Soufi said. He added that the authority also offers conformity certification and quality mark services to support manufacturers.

Top sectors requesting certifications: Engineering and food products have seen increased demand for conformity certificates over the past two years, driven by a surge in new factories by foreign companies entering the Egyptian market, mainly in appliances like air conditioners, washing machines, and TVs, according to Soufi.

Sustainability is driving demand: There is growing demand for energy efficiency, water-saving, and environmental certifications, as more international companies enter the market. Soufi told EnterpriseAM that EOS is working with the United Nations Industrial Development Organization (UNIDO) to launch a specialized online platform for high-efficiency electric motors.

Quality is a competitive edge: Quality is the leading factor in gaining customer trust locally and abroad, General Manager of Almarai Jordan and former CEO of dairy company Beyti Mark Wyllie previously told EnterpriseAM, adding that consumers typically stick with good quality products, rather than cheaper ones. Mars Egypt’s Factory Manager Osama Helal added that the company’s commitment to quality standards has supported its plans to export to various markets.

Standards are also essential when localizing technology: International standards transfer technical and scientific knowledge without the need to purchase expensive licenses, Unitel Chairman Amir Wassef said, stressing that alignment with global standards is a key pillar for technology localization.

But challenges remain: Despite progress, less than 30% of companies in the Federation of Egyptian Industries have received certification, a federation official told EnterpriseAM. Failure to comply with standards limits companies’ ability to expand internationally and weakens the domestic economic system, Wassef added. The cost of obtaining certificates is also a challenge, according to industry stakeholders, who pointed out to EnterpriseAM that fees remain high relative to small business incomes. However, Soufi said that certification fees are extremely low compared to global markets, starting at just EGP 1k versus over USD 1k elsewhere.

An accreditation push would be a boost for SMEs’ export ambitions : Although local manufacturers “present in the local market and are of very high quality, they lack international accreditation to be recognized in export markets,” Engineering Industries Export Council Chairman Sherif El Sayad. Accrediting more Egyptian producers of goods would particularly open the door for small and medium-sized enterprises, he added.

Digitization could help close the gap: EOS is going fully digital for all of its services by the end of 1H this year, Soufi said, adding that manufacturers will soon be able to obtain conformity certificates online, with several services already available digitally.

A unified system for specifications and quality control is another way to attract industrial investments: The engineering industries sector has received massive foreign direct investments over the past two years, aiming to take advantage of the Egyptian market’s commercial advantages and its ability to access export markets, El Sayad told EnterpriseAM.

Your top industrial development stories for the week:

  • China’s Wu’an Xin Feng has kicked off construction on its planned USD 1.7 bn integrated industrial complex in Ain Sokhna’s Industrial Zone. The two-phase complex being built by the company’s Egyptian arm Xin Feng Egypt Steel will be completed over a five-year period and create 8k direct jobs. (Statement)
  • Qalaa Holdings’ United Foundries Company is planning to invest up to USD 10mn in a new foundry in Helwan, Managing Director Waseem Abdullah said. The new facility will focus on producing castings for the gold mining and cement industries, adding some 40k tons to the company’s production capacity and bringing total output to around 70k tons annually. (Hapi Journal)
  • Dairy and juice giant Beyti is planning to invest over EGP 7 bn in the next three to five years to boost production capacity, General Manager Chris Abboud said. The subsidiary of Saudi Arabia’s Almarai will allocate EGP 1.5 of that amount this year and is targeting a 20-25% increase in sales over the next three years. (Asharq Business)

MAY

7 May (Wednesday): The Royal Philharmonic Orchestra concert featuring Samih Sawiris.

8-18 May (Thursday-Sunday): Cairo Photo Week in Downtown Cairo and District 5.

9 April (Friday): The Grand Show: Omar Khairat at Qubba Palace.

10 May (Saturday): Egypt Coffee Festival at Kamelizer.

16 May (Friday): Angham at the Cairo Opera House.

21-31 May (Wednesday-Saturday): Disney On Ice at Cairo International Stadium.

23 May (Friday): Project Meem at Cairo Festival City.

30 May (Friday): Adam Port at the New Administrative Capital’s Green River.

OCTOBER

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

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

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