Good afternoon, friends, and congratulations on making it to the weekend. Today, we take a look at the true cost of replacing human labor with AI, check out Netflix’s latest thriller hit: Apex, round up all the footie we’re watching this weekend, and more.

Let’s dive right in…

THE BIG STORY TODAY-

📍USD nears the 54 mark again amid elevated hot money outflows: The USD jumped by approximately EGP 0.8 against the EGP during the final trading session of the week, nearly touching the EGP 54.00 level for the first time in a month. The move signals a sharp uptick in foreign currency demand within the interbank market as the EGP continues to function under a flexible exchange rate regime.

At the banks: The greenback was changing hands at EGP 53.57 (buy) and EGP 53.67 (sell) at the NBE, while it hit EGP 53.55 (buy) and EGP 53.65 (sell) at the CIB, and EGP 53.84 (buy) and EGP 53.94 (sell) at ADIB.

“Rising geopolitical tensions have intensified pressure on the EGP this week, triggering a wave of foreign exits from the secondary debt market,” a banking source tells us, adding that foreign investors offloaded approximately USD 750 mn in local debt instruments over the course of three sessions this week. Further exit requests are slated for execution early next week, signaling continued downward pressure on the currency.

The market saw a momentary flash of optimism yesterday, with the source noting that USD 277 mn in fresh inflows entered the system before the latest escalation in regional tensions spurred the subsequent wave of sell-offs.

Struggling factory owners now have more time to get their stalled projects off the ground, according to an Industry Ministry statement, which makes it clear that those who don’t will risk losing their land. Minister Khaled Hashem’s latest decision (107 of 2026) extended the deadline to year-end from the end of April for all stalled industrial projects to show meaningful progress, with grace periods ranging from 6-18 months depending on completion rates and partial fine waivers attached — but likely no further extensions after that.

What about those who’ve already used up their extensions? Projects that have already received extensions but haven’t progressed have three months to rectify their status or face immediate withdrawal.

As much an audit as it is a relief measure: By freezing ownership transfers until projects have been operational for three years and the land price is paid in full, the ministry is explicitly targeting land bankers — investors who sit on unbuilt industrial plots waiting for land to appreciate rather than manufacturing anything. The decision follows a similar move in the residential market, where NUCA rolled out a parallel system of fees targeting developers who flip state-allocated plots to secondary builders without breaking ground.

^^ We’ll have more on both stories in EnterpriseAM next week.

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The most important business stories in MENA aren’t happening inside MENA anymore — they’re happening at the edges, where regional capital meets global ambition.

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THE BIG STORY ABROAD-

🌐 Following the US central bank’s decision to hold rates steady, the Bank of England voted to keep key interest rates at 3.75% — a move reportedly widely anticipated by economists. Meanwhile, oil prices hit four-year highs, with Brent reaching USD 126 / bbl before retreating to USD 115 / bbl as of the time of publication.

The price surge comes as US President Donald Trump maintains the naval blockade on Iranian ports until Tehran backs down from its nuclear program. Axios reports that the US is preparing for possible military action against Iran.

^^Read more on: CNBC, Reuters, and the New York Times.

CLOSER TO HOME- The Israeli military intercepted at least 22 boats from a flotilla carrying humanitarian aid for Gaza near the Greek island of Crete. The Israeli Foreign Affairs Ministry says around 175 pro-Palestinian activists were detained and transported to Israel. The Global Sumud Flotilla denounced the seizure as “piracy” and said it was in “complete violation of international law.”

^^Read more on: BBC and the New York Times.

** CATCH UP QUICK on the top stories from today’s EnterpriseAM:

• Work-from-home Sundays are here to stay for another month. The cabinet has extended the mandatory work-from-home policy for public- and private-sector employees till the end of May;
• The government is loosening its grip over two of the state’s heaviest public service sectors: water and social housing, opening the door for private capital as it looks to shift some of the fiscal load off its books;
• Our first SPAC wants to gold-plate its portfolio: Catalyst Partners Middle East is vying for up to 100% of EIH Consulting — a precious metals investment and consulting firm — and its subsidiaries.

☀️ TOMORROW’S WEATHER- The weekend will be off to a warm start, with the mercury set to peak at 32°C, with a low of 20°C, according to our favorite weather app.