Good afternoon, friends. It’s another day with all eyes on the region, as the Israel-Iranian conflict continues to unfold — here in Egypt, everyone is closely following the impact of it all on markets, the exchange rate, and investor sentiment.
THE BIG STORY TODAY-
The EGP bounced back after a turbulent yesterday, as panic among foreign investors subsided, a source in the banking sector told EnterpriseAM. Markets were less reactive despite continued Israel-Iran escalations overnight, the source added.
Where the exchange rate stands currently: The USD was changing hands at EGP 50.21-50.31 at state-owned lenders at the end of trading today, down around EGP 0.45 from yesterday following a halt in exits and purchases from Arab and Egyptian institutions, which helped restore confidence among foreign investors. “We are still in a phase of uncertainty, but it seems the markets are becoming less affected by the repercussions — that is unless the escalation intensifies,” the source said.
Remember: The USD crossed the EGP 51 mark for the first time since April yesterday — the first day of trading since Israel and Iran started trading attacks. The USD was going for around EGP 50.66-50.69 at state-owned and private banks by the end of trading. The dip was the result of foreign investors exiting the local debt market in favor of safer havens, three sources in the banking sector told EnterpriseAM.
THE BIG STORY ABROAD-
Iran launched a fresh wave of missile attacks on Israel and Israel claims it has “full aerial control” above Tehran as the conflict enters its fourth day. As of right now, there is no clear path to de-escalation in sight and the Israeli side is warning of dire consequences ahead. (Reuters | Financial Times | France24)
Iran’s parliament is currently preparing legislation to formally withdraw from the Nuclear Non-Proliferation Treaty — which the country ratified in 1970, committing to forgo atomic weapons and cooperate with the UN’s atomic watchdog in exchange for pursuing civilian nuclear technology. (Reuters)
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☀️ TOMORROW’S WEATHER- The capital is in for a sunny day tomorrow, with the mercury set to peak at 35°C throughout the day before cooling down to 23°C at night. The North Coast will be experiencing cooler weather, with the temperature expected to reach just 28°C during the day and 20°C at night, according to our favorite weather app.
Meta’s USD 14.8 bn investment in Scale AI is raising regulatory eyebrows: Mark Zuckerberg’s Meta has acquired a 49% non-voting stake in Scale AI — a data-labeling and model evaluation firm that works with several of Meta’s competitors — and brought on board its CEO, Alexandr Wang, Reuters reports. The transaction gives Meta deep access to AI talent and infrastructure without triggering a formal antitrust review, since Meta also secured a minority stake.
Why this matters: The move is being described as a textbook “acquihire” — a transaction structure that lets Big Tech absorb talent and strategic assets without triggering the usual regulatory reviews. While Meta didn’t snap up a controlling stake, critics argue the transaction could still distort competition, especially since companies like Microsoft and OpenAI rely on Scale’s services. Alphabet has reportedly ended its business with Scale in response to the transaction.
Regulators may still step in: Though the Federal Trade Commission hasn’t formally challenged the agreement, it has probed similar acquisitions in the past — including Microsoft’s USD 650 mn tie-up with AI firm Inflection AI. Legal analysts say Meta’s decision to avoid a controlling stake offers some protection, but not immunity, especially if the move is seen as limiting rivals’ access to key infrastructure.
The political calculus: Legal experts say Meta may be banking on a looser regulatory climate under a second Trump term — “Trump's antitrust enforcers have said they do not want to regulate how AI develops, but have also displayed a suspicion of large tech platforms,” Director of the Competition Law Center at George Washington University William Kovacic told Reuters.
?It’s not a walk in the park, folks. Presented by British comedians Rob Beckett and Josh Widdicombe, Parenting Hell is a podcast that leaves no parenting stone unturned, no matter how uncomfortable. What does it mean to be a parent? How can you weather the parenting storm? How do you make lemonade out of diapers? All of these are questions Beckett and Widdicombe answer in their comedic podcast, alongside a slew of celebrity parents.
Just like the best things in life, we can thank Covid-19 for this podcast. Having debuted in April 2020 under the title Lockdown Parenting Hell, the podcast initially aimed to explore the impact of lockdown on the relationship between fathers and their children. Beckett and Widdicombe seem to have gotten quite attached to the podcast, however, seeing as it managed to outlive quarantine. Lockdown has since been dropped from the title, and the show no longer restricts itself to a specific timeframe or phenomena; it’s just about parenting…hell. The podcast drops two episodes per week, and has managed to become a household favorite across the UK.
It’s a little bit of everything. Some podcast episodes see the creme de la creme of British society in the — proverbial — spotlight; from influencers to actors to writers, give their two cents on parenting. Whereas other episodes are simply rambling sessions between Beckett and Widicombe. Parenting Hell digs deep into modern day parenting terminologies, parenting clichés, and stereotypes on parenthood. Guests share their experiences with their children, how they communicate, and how they live life as a parent. More often than not, you’ll find yourself laughing a little too hard at some of these stories.
In one particular episode of Parenting Hell, English actor, writer, and comedian Tom Basden — who you might recognise as Matt in After Life — spills the tea on his experience with parenthood and the nature of his relationship with his son and two daughters. Basden — like most parents — finds himself driven to insanity by his children, but he enjoys it. The English actor dives deep into the delicate balancing act that is his life, and how he manages to be a husband, a father, and his own individual. If you’re feeling down and looking for a little pick-me-up, we’d definitely recommend listening to this episode.
It was love at first…uhm, listen? Beckett and Widdicombe’s chemistry is infectious. The podcast feels like listening to two old friends yap away — but actually say something of substance. It’s light, informative, and fun.
⚽ Latest in the Club World Cup: Chelsea, champions of the UEFA Conference League, will kick off Group D matches as they face off with Los Angeles FC at the Mercedes-Benz Stadium in Atlantia, Georgia, tonight at 10pm.
The group also includes Tunisia’s Espérance and Brazil’s Flamengo, who will face off tomorrow at 4am at the Lincoln Financial Field Stadium in Philadelphia, Pennsylvania.
Miami’s Hard Rock Stadium plays host to Boca Juniors and Benfica as the Group C players gear up for their game tomorrow at 1am.
In case you missed it: Group A saw another scoreless draw as Brazil's Palmeiras and Portugal's Porto failed to one-up one another. This brings all four clubs within the group — which includes Al Ahly and Inter Miami — to a tie at one point each after the first round of matches.
Bayern Munich showed Auckland City who’s boss, recording the biggest ever Club World Cup win with 10-0. Needless to say, Bayern Munich is now at Group C’s lead with three points.
As for Paris Saint-Germain, the French club secured an easy victory over Atletico Madrid with a 4-0 win, comfortably securing Group B’s lead. Right behind Paris Saint-Germain is Brazil’s Botafogo, who secured three points by defeating the US Seattle Sounders 2-1.
? Did that trip to Ibiza not make it out of the group chat? Well, you’re in luck. ParadiseIbiza — one of the Mediterranean island’s most celebrated party series — is marching to the beat of its own EDM drum all the way to the North Coast’s Solare in Ras El Hekma on Friday, 11 July. The line up includes Welsh DJ Jamie Jones (the brains behind Paradise), US DJ Seth Troxler, UK’s East End Dubs, Danish-Filipino Manda Moor, and Egypt’s own Awadly. Tickets are yet to be announced, however we’d suggest keeping an eye out on Paradise Ibiza’s website.
HAPPENING THIS WEEK-
When life gives you lemons, you head to CJC 610 and wait for The Comedy Bunch to serve some lemonade. On Tuesday, 17 June, The Comedy Bunch’ s Engy Hashem, Mohamed Gamal El Din, Halawa, Ahmed El Hareedy, and Amgad El Shawshy will be taking the stage with the sole purpose of making you laugh — and given these comedians’ track records, we’d say that you’ll be laughing plenty. You can secure your spot through Ticketsmarché.
Get loud or get out. CJC 610 is bringing back Casino El Fotrikiano, its signature Mahraganat madness experience, on Wednesday, 18 June, and it’s set to be louder than ever. Turning it up with his signature sha’bi sound, Mozmar Abdelsalam will be joined by Egyptian Mahraganat singer Mahmoud Elleithy and DJ Sadam for a night celebrating the best that Egypt’s local genre has to offer. You can secure your spot through CJC 610’s website.
No tickets needed, these concerts are on the house. Viral Egyptian singer and rapper LellaFadda is throwing two pro-bono concerts this June. On Thursday June 19, Fadda will be lighting up Alexandria’s Antoniades Park before heading back to Cairo for an encore at The Greek Campus in Downtown Cairo on Saturday, 21 June. You can secure your spot through Laylo.
Miami-based Mexican artist and producer Sainte Vie is giving Cairo a taste of Floridian summers. Bringing his signature groove to CJC 610 on Thursday, 19 June, the techno dynamo will be joined by local DJs Ziad Mousa, Mohasseb, and Ashmawy. You can get your tickets from Ticketsmarché.
They might be creeps, they might be weirdos, but they’re definitely going to be entertaining the crowd. On Thursday, 19 June, Egyptian Radiohead tribute band The Bends will be taking over Garden City’s Room Art Space with an intimate unplugged session featuring Radiohead’s most beloved hits. Tickets can be purchased through EasyKash. Now, cue Exit Music (for a Film).
Need a dash of folklore in your life? Reconnect with your Egyptian roots at El Sawy Culturewheel on Friday, 20 June, as the all-Egyptian, all-women band Tablet el Sitt take the stage. On a mission to spread joy and preserve Egyptian folk music, the band will be performing from 8pm to 10:30pm. Tickets are available on El Sawy Culturewheel’s official website.
HAPPENING LATER-
Legendary Egyptian pianist Omar Khairat is back at the Cairo Opera House with two concerts on Sunday, 22 June and Monday 23, June. Tickets can be purchased through Tazkarti.
Ever dreamt of being a DJ? Kamelizer wants to make your beat-dropping dreams come true at District 5’s Townhall by Kamelizer this June. Collaborating with the DJ Academy in Cairo, Kamelizer is hosting a three-week-long DJ Bootcamp kicking off on Monday, 23 June, and taking place on Mondays and Wednesdays from 6:30 to 9:30pm. Want to master mixing? Be a transition-tron? Know how to work a crowd? The bootcamp will teach you how to do all that and more — and the best part? You’ll get to show off your skills at two live events following the bootcamp. To register for the bootcamp and find out more details, head to Kamelizer Spaces’ Instagram and click the link in their bio.
World-famous ventriloquist Jeff Dunham is bringing his puppets to Egypt this June. Performing live in Cairo for the very first time, the American comedian, actor, and host of the Jeff Dunham show will be playing puppet-master as he orchestrates a comedic showcase under the theme of Artificial Intelligence, stringing along his comical cast of characters at the Drama Hall in the New Capital’s Arts and Culture city on Thursday, 26 June. You can grab your tickets from Ticketsmarché — and don’t worry, you won’t have to pull any strings to get in.
Debuting her first release in 10 years, Lena Chamamyan will be pulling up to Cairo this June. Her latest album, Sohab — written in collaboration with a slew of Egyptian and Arab artists — will be debuting at Theatro Arkan on Thursday, 26 June, shining the spotlight on Middle Eastern folk music. A little birdie tells us that the Syrian-Armenian singer, songwriter, and soprano will be joined by a few special guests, but details remain under wraps. You can grab your tickets from Ticketsmarché.
The ‘90s are calling, and on Friday, 27 June, we’re picking up. Egyptian band Cassette ‘90s will be performing live at Zamalek’s El-Sawy Culturewheel, and you best believe they’ll be doubling down on nostalgia. This motley crew of ‘90s aficionados knows how to keep an audience on their feet, so if a trip a few decades back sounds like a fun time, secure your spot through El-Sawy Culturewheel’s website.
Lose yourself in the last of Beethoven’s symphonies at the Cairo Opera House. On Saturday, 28 June, Beethoven’s Symphony No. 9 will reverberate throughout the Main Hall as Maestro Ahmed El Saedi guides his orchestra through the most influential of symphonic works. Tickets can be purchased through Tazkarti.
The Cairokee Empire rises once more, this time at the Cairo International Stadium. On Saturday, 28 June, the band promises over a decade’s worth of iconic music at the largest venue in Africa. You can grab your tickets through Tazkarti.
Freshen up your linen shirts and pack up your shades, because Egyptian megastar Amr Diab will be kicking off Sahel season at Sol Beach Marassi on Friday, 4 July. Joining the Hadaba will be German electronic dance music producer and singer Monolink, and Copenhagen-based experimental pop trio WhoMadeWho. You can grab your tickets from Ticketsmarché. Just don’t forget your sunblock.
This summer, New Alamein city will be playing host to two landmark art events. Announced by the Egyptian Prime Ministry, the second edition of contemporary exhibitionArt Space will kick off on Saturday, 19 July and wrap up Tuesday, 30 September, as Sahel season comes to a close. Throughout its duration, the exhibition will feature a slew of visual art installations, interactive workshops, and multidisciplinary exhibitions, including the Egypt Sculpture Symposium, which takes place from Wednesday, 6 August till Saturday, 30 August, hosting 30 of the world’s most renowned sculptors.
Get caffeinated and grab your polaroid camera, because on Friday 8 August, &ME — one fifth of Keinemusik — will be bringing the beats all through the night until sunrise at North Coast’s Sol Beach. Promising to have you dancing till the sun’s up, the German EDM DJ and producer will be going solo this time around. Tickets can be purchased through Ticketsmarché.
In the mood to party by the Pyramids? On Friday, 19 December, world-famous Dutch DJ and Producer Tiësto is coming back to Egypt for a solo show at the Giza Plateau. Once voted “The Greatest DJ of All Time,” Tiësto will surely make this upcoming show one to remember. Tickets are available on Ticket Egypt.
The EGX30 rose 0.1% at today’s close on turnover of EGP 3.6 bn (23.8% above the 90-day average). Foreign investors were net sole net buyers. The index is up 4.4% YTD.
In the green: Orascom Construction (+5.5%), Edita (+3.3%), and Eipico (+2.3%).
In the red: Orascom Development Egypt (-3.2%), Ibnsina Pharma (-2.1%), and Egypt Kuwait Holding -USD (-2.0%).
? The 2025 FIFA Club World Cup kicked off yesterday morning following a drastic change in structure that changed its standing within the global football calendar. For the first time ever, the Club World Cup is seeing 32 teams participating — a change from the previous seven — and will be held every four years instead of annually. The expansion isn’t just about increasing the number of teams participating, but rather a direct implementation of FIFA’s vision to elevate the competition’s economic and competitive value, turning it into a global event not unlike the FIFA World Cup in terms of scope and impact. The US is hosting the current edition — set to conclude on 13 July — in 12 different stadiums spread across 11 major cities.
Here’s everything that changed: The most glaring changes have to do with the tournament’s structure, which now closely mirrors that of the FIFA World Cup. Teams will be divided into eight groups, with the top two teams from each group qualifying for the round of 16. This extends the tournament’s duration, and thus guarantees further opportunities for coverage, sponsorships, and ticket sales. The 2025 Club World Cup proves itself globally diverse, with 12 spots for European clubs, six for South American FCs, four each for Asian, African, and CONCACAF clubs, and one for Oceania. In addition, the host spot is warmly filled by Inter Miami. This diversity aims to expand the cup’s global fanbase, while maintaining its commercial and media appeal.
Qualifying 101. Clubs qualify for the new Club World Cup based on their continental results over the four years preceding the tournament, specifically in the Champions league. If one club wins multiple continental championships, FIFA then uses a special ranking system to determine who qualifies. FIFA stipulates that no more than two clubs from the same country may qualify unless they both win their continental championships. Africa’s four spots went to Egypt’s Al Ahly (CAF Champions League winners in 2021, 2023, and 2024), Morocco’s Wydad AC (2022 champions), South Africa’s Mamelodi Sundowns, and Tunisia’s Espérance.
SUBSTANTIAL PROFITS FOR BOTH FIFA AND THE HOST COUNTRY-
Record revenues: The tournament is expected to generate USD 2 bn in revenues, with broadcasting rights, sponsorships, and ticket sales being the main sources.
#1- Broadcasting: British platform DAZN acquired the tournament’s exclusive broadcasting rights for USD 1 bn. DAZN plans on broadcasting all 63 matches to global audiences pro bono, according to The Athletic.
#2- Sponsorship: FIFA managed to attract a slew of global brands, including Chinese company Hisense, Coca-Cola, and the Bank of America.
#3- Tickets: Ticket sales and hospitality packages are expected to account for around 25% of total revenue — which would be equivalent to USD 500 mn. Tickets start at USD 30 for group stage matches, and can reach over USD 600 for the finals. Hospitality packages — which include tickets, premium seats, meal plans, and other exclusive services — range from USD 386, all the way up to several ks.
The host stands to make big gains: It seems the host country is pulling out all the stops to maximize the economic benefits of hosting the Club World Cup — which is projected to contribute up to USD 21.1 bn to the global GDP, and USD 9.6 bn in the US alone, according to a joint study by FIFA and the World Trade Organization. The cup is also expected to boost the US GDP by USD 17.1 bn, generate social benefits estimated at USD 3.36 bn, and provide an estimated 105k jobs — particularly in the hospitality and transportation sectors.
FIFA extends a helping hand. All 11 host cities across the US will receive USD 1 mn from FIFA, to be allocated to the development of sport infrastructure and local social projects to foster communities and strengthen existing ones. The tournament is expected to stimulate both domestic and international tourism, increasing hotel occupancy and spending.
UNPRECEDENTED CLUB-LEVEL PRIZES-
Winner winner, chicken dinner…with a side of big bucks. The first edition of the newly restructured Club World Cup comes with a whole lot of financial baggage — the good kind. The total prize fund hits the USD 1 bn mark, split between USD 525 mn for participation and USD 475 mn based on performance.
#1- Participation revenue: All participating clubs are guaranteed a piece of the cake — which differs from continent to continent. European clubs will receive USD 12.8-38.2 mn each, depending on their performance and commercial value. South American clubs will receive USD 15.2 mn each, and Asian, African, North and Central American, and Caribbean clubs will each receive USD 9.6 mn. Oceania drew the shortest straw, with its club walking away with USD 3.6 mn.
#2- Performance revenue: Each club is entitled to USD 2 mn for winning a group stage match — and USD 1 mn for a draw. Clubs are also entitled to USD 7.5 mn upon qualifying for the round of 16, USD 13 mn upon qualifying for the quarter finals, USD 21 mn for the semi finals, and USD 30 mn for the finals. The winning club will walk away with an extra USD 40 mn — their total earnings could reach up to USD 125 mn.
#3- Not playing ball? Well, here’s something for you too. Now that the first USD 1 bn has been distributed — what’s happening with the other half? The other USD 1 bn will be directed towards supporting the sport globally. FIFA President Gianni Infantino said that the sports governing body would not retain a single USD from the tournament’s revenues. FIFA’s plan includes the allocation of USD 250 mn in solidarity payments to non-participating clubs to promote their development. The rest is set to cover the tournament’s operational expenses.
It’s not just about the money, though. While participating clubs may indeed be walking away with heavy pockets, they’re also getting something that is as equally enticing: exposure. Given the extensive media coverage and global broadcasting, clubs may expect to secure new sponsorships and commercial partnerships. For clubs not necessarily used to the spotlight, the ability to go head to head with some of the world’s biggest clubs guarantees a boost in market value, both short- and long-term.
SOME CONCERNS ARISE-
It’s not all rosy: Introducing a new global tournament of this scale to an already-overwhelming global football calendar raises a few questions — particularly pertaining to players’ health, which would impact performance ability, and thus, audience engagement.
Player unions aren’t all that happy. European players unions — represented in the FIFPRO Europe and European Leagues — and Spain’s La Liga association have filed a complaint with the European Commission, accusing FIFA of “conducting concerning the imposition of the international match calendar.” This comes as FIFA prepares to restructure the 2026 world cup to feature 48 teams instead of the usual 32.
Hefty prize sums are also a subject of concern: The overtly-generous prize money may contribute to an imbalance in competition within domestic leagues, as some clubs receive significant financial support from participation in the Cup World Cup, giving them an advantage over their local peers.
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