Good afternoon, friends, and welcome to the start of another workweek. As is usually the case with Sundays, it seems the news cycle is still getting some much needed rest.
THE BIG STORY TODAY-
Arabia Developments will invest up to EGP 30 bn to build 2k hotel rooms and serviced apartments at its Sun Capital project in Sixth October Gardens by 2029, Vice President for Technical Affairs Amr Diab Radi told Asharq Business. The investment — equivalent to c.USD 620 mn — will go towards three hotels in the development, including a Concorde-branded hotel set to begin operations in 2026.
REMEMBER- Egypt plans to more than double tourist footfall to 30 mn tourists a year by 2030, from 15.7 mn in 2024. To help accommodate the nearly doubling in tourist numbers, the government is working to expand room capacity to 500k from 228k.
THE BIG STORY ABROAD-
It’s a calm day in the business press, with Zelenskyy’s Independence Day speech getting the most ink across global headlines.
Ukrainian President Volodymyr Zelenskyy marked the country’s Independence Day with a speech in Kyiv today, vowing to continue fighting for freedom. "We need a just peace, a peace where our future will be decided only by us," Zelenskyy said in an address to his nation. "Ukraine has not yet won, but it has certainly not lost,” he added. The Ukrainian president’s speech follows Moscow’s announcement that Ukraine had attacked Russian power and energy facilities overnight, leading to a fire at a nuclear power plant in the western Kursk region. No fatalities or injuries have been recorded, however, and the fire was quickly put out. (New York Times | BBC)
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*** 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’re taking a look at Egypt’s counterfeit cables market and its rising dangers.
☀️ TOMORROW’S WEATHER- We’re in for a slightly cooler day tomorrow, with temperatures in Cairo set to peak at 36°C, before cooling down to 25°C. Up north, we’re expecting some wind with a high of 29°C and a low of 27°C, according to our favorite weather app.




