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WHAT WE’RE TRACKING TONIGHT

Gov't wagers on healthcare growth with new suite of investor perks

Good afternoon, friends, and welcome to the start of another workweek. We hope you had your fair share of rest this weekend, seeing as we have a packed issue for you. Today, we dive into Egypt’s fertilizer industry, check out what is arguably Ramadan’s best series thus far, and explore what journalism could look like in 2026.

So, when do we eat? Maghrib prayers are at 5:49pm in the capital, and you’ll have until 5:01am tomorrow to hydrate and caffeinate ahead of fajr.

THE BIG STORY TODAY-

📍 Gov’t sets its sights on healthcare growth: The government is putting healthcare in the spotlight with the launch of a slew of investment incentives built to grow the sector and reel in foreign interest, a senior government source told EnterpriseAM.

What’s on deck: The new incentives package will include golden licenses for new projects based on assessments to level incentives according to the size of USD-denominated financing, business scale, and project structure.

And there is a lot more choice: The number of healthcare facilities open to local and foreign private-sector participation — whether in management, operation, and service efficiency upgrades — has expanded from just seven last year to 62 this year, our source tells us. Sheikh Zayed Specialized Hospital, New Alamein Hospital, Galala Hospital, and Agouza Hospital have been added to the list along with multiple facilities across various governorates.

^^ Read more details and background on this story in our EnterpriseAM edition tomorrow.

THE BIG STORY ABROAD-

🌐 US President Donald Trump is dominating headlines after raising his previously imposed 10% global tariff to 15% — “effective immediately.” This follows a Supreme Court ruling on Friday that the US president’s global tariff barrage exceeded his powers under federal law. Trump’s tariff hike is invoked under Section 122 of the Trade Act of 1974, which allows the president to impose temporary levies for up to 150 days.

The Supreme Court decision was welcomed by lawmakers from the EU, the UK, and Canada. Following the ruling, India delayed a trade delegation trip to Washington originally slated for this week, citing uncertainty over the tariff decision.

^^Read more on Bloomberg, CNBC, Reuters, and the Financial Times.

AND- Following India’s Global AI Summit, tech giants vow massive investment of hundreds of bns into Indian AI efforts as the South Asian nation pushes for AI superpower status. Microsoft said that it was on track to invest USD 50 bn in AI in the Global South. Other US tech firms like OpenAI, chipmaker AMD, and Blackstone announced partnerships with Indian companies.

^^Read more on CNBC and the Financial Times.

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

  • FinMin debuted its direct-to-consumer Citizen Bond today, with subscriptions available to retail investors through Egypt Post’s nationwide branch network;
  • The Transport Ministry is set to bring 125 out-of-operation locomotives back to life under a USD 297 mn agreement with Advanced Power Dynamics. The new contract plays into the government’s strategy of maximizing the efficiency of its existing fleet;
  • E-commerce infrastructure platform Flextock secured USD 12.6 mn in a Series A round led by TLcom Capital. The raise brings Flextock’s total funding to date to USD 15.8 mn, having also closed a USD 3.25 mn pre-seed round in 2021.

enterprise

*** It’s Inside Industry day — your weekly Sunday briefing of all things industrial in Egypt. Inside Industry explores what it takes to turn Egypt into a manufacturing and export powerhouse, ranging from initial investment and planning through to product distribution, land allocation, industrial processes, supply chain management, labor, automation and technology, inputs and exports, and regulation and policy.

In today’s issue: We dissect Egypt’s fertilizer sector and explore the challenges that lay ahead in 2026.

☁️ TOMORROW’S WEATHER- Grab your favorite sweater and stay warm, we’re in for cool weather in the capital tomorrow. Temperatures are set to peak at a high of 19°C, with a low of 10°C, according to our favorite weather app.

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FOR YOUR COMMUTE

The future of journalism in 2026

✍️ Is journalism a dying field? The Washington Post recently madeheadlines when it laid off a third of its staff, triggering an avalanche of public backlash and wave of panic for journalists worldwide. With AI slop (AI-generated text) taking over the internet, human writers are in a more precarious position than ever before. Web traffic to publishers’ websites is expected to drop by over 40% over the next three years, according to a recent report (pdf) by the Reuters Institute and Oxford University. So where does the future of journalism lie?

The rocky road ahead

Publishers and media conglomerates are now recalibrating by ditchingsearchengine optimization (SEO) in favor of answer engine optimization (AEO). Even so, among the executives surveyed, most expect minimal return on investment, with 20% expecting none.

It’s not just AI slop that journalists are competing with, it’s content creators. The report notes that 70% of publishers have expressed concerns about digital content creators overshadowing the publishing industry, adding that younger audiences are shifting toward “personality-led” news, in which attention is paid to individual creators — often delivering content through video-first strategies — who are deemed more authentic and personable.

Did you catch that? We’re craving human authenticity. As netizens flock to individual creators, publishers are losing bank… and talent. The financial allure of the individual creator economy has led top editorial talent to pivot away from traditional publishing, and some 40% of executives worry their top journalists may be swayed. The rise of individual content creators, however, has raised another concern: how credible is the information they’re sharing?

How publishers are reacting

If you can’t beat ’em, join ’em. In an effort to compete with independent content creators, publishers are training their own newsroom staff to act more like creators, prioritizing video-first content on platforms like YouTube and TikTok and divesting from others, such as Facebook and X. These publishers have also made videos a top destination on their own native websites, with well-established brands such as the New York Times, CNN, and the BBC, among others, driving traffic to their own productions.

… But it’s a double-edged sword. Executives worry that by upskilling their staff, they are essentially training them for their eventual exit into the independent creator economy.

Death to commodity news

What does AI write best? Commodity news — and publishers are killing it. By scraping and reworking commodity news pieces — such as service journalism stories, political updates, and how-to guides — AI has become an expert. The fix? “To focus on journalism that can’t easily be summarised in the three bullet points,” head of Digital at The Wall Street Journal Taneth Evans says. This means publishers will now be axing most content AI can reproduce, with the report noting that service journalism pieces will be reduced by some 42%, general news by 38%, and how-to guides by 32%.

What’s filling the void? Distinct human content — by humans, about humans. This includes original investigations and on-the-ground reporting, analytical stories, and live event coverage. However, among the areas to which publishers are pivoting, human stories are prime: ones prioritizing emotional connection and “personality-driven narratives.”

The rise, fall, and revival of the human writer

Over the past year, job postings for “storyteller” doubled in the US. Writers, recently shunned and out of work, are back in demand, and demand is indeed strong. Beyond traditional journalism, human writers are being rehired in droves, according to Business Insider (BI).

In a not-so-surprising pivot, major corporations are desperately seeking human voices after AI slop eroded trust. Whether through newsletters, podcasts, or video content, big corps are taking matters into their own hands, and the first step is to make themselves authentic again.

A new premium, a new price tag: These new positions — mostly within communications departments — promise a pretty sum. Netflix is offering its director of product communications up to USD 775k, BI notes, compliance tech firm Vanta’s head of storytelling would be in for USD 274k, according to WSJ, and OpenAI — yes — is offering its potential communications execs up to USD 400k, according to BI. A good chunk of applicants are journalists.

As journalism sways in the winds of change and layoffs in the industry continue to make headlines, another change is afoot, one that makes clear a pivotal fact: as long as there are stories to tell, human writers will never be out of a job. While journalism may still need time to readjust, it’s a different story for storytellers.

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

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ON THE TUBE TONIGHT

Why Ein Sehreya needs to top your Ramadan watch list

📺 Syrian director Sadeer Massoud returns this Ramadan with a gripping tale about justice and the unlikely anti-heroes who see it through with Ein Sehreya. Adel (Essam Omar) is an engineer specializing in surveillance camera installation whose ill fortune leads him to Zaki (Bassem Samra), a lawyer who entangles him in a scheme to hunt down corrupt businessmen. Together, they track their targets using tiny spy cameras, extorting them before sending them off to the authorities.

The Egyptian Robin Hood? While Adel initially resists the lawyer’s demands, he eventually succumbs under the weight of financial pressure (and blackmail) — driven by his struggles with his rebellious younger brother, Hassan (Omar Sherif), and his mother’s (Samaa Ibrahim) worsening health.

Exceptional characters and stellar performances: The show doesn’t rush itself, and the pace is just right allowing characters to develop and psychological struggles to reveal themselves. Zaki is a profoundly complex character, with a resourcefulness that lives up to his name. He’s driven by a desire to restore justice in a society where it has gone missing, operating under a clear philosophy that the corrupt need to go. Adel, on the other hand, represents a significant segment of Egypt’s youth struggling for stability. As he tests his principles, he begins to appreciate Zaki’s vantage point: Only the cunning can survive, and only power matters. As usual, Omar delivers another incredible performance.

Only four episodes in, Ein Sehreya has already proven itself a force to be reckoned with this Ramadan. With an incredible score by Khaled El Kammar, equally impressive cinematography, and exceptional location choices, the show hit a home run.

WHERE TO WATCH- Ein Sehreya is streaming on Yango Play. Watch the trailer on YouTube (watch, runtime: 0:41).

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Sports

Premier League action on our radar tonight

The week is off to an exciting start with a lineup of fixtures across major European leagues: In the Premier League, Matchweek 27 continues, headlined by Arsenal vs. Tottenham Hotspur in a North London Derby at 6:30pm.

The Gunners are looking to end a two-game draw streak and widen the gap between them and second-placed Manchester City to five points to solidify their lead at the top of the table. The Citizens defeated Newcastle 2-1 yesterday, narrowing the gap with Arsenal to just two points. The match will be broadcast on beIN Sports 1.

Also in the Premier League, kicking off at 4pm:

  • Nottingham Forest vs. Liverpool — beIN Sports 1;
  • Crystal Palace vs. Wolverhampton — beIN Sports 4;
  • Sunderland vs. Fulham — beIN Sports 6.


In La Liga, Barcelona faces a crucial match against Levante. A victory would ensure Barça reclaims the lead from Real Madrid, who suffered a 2-1 defeat yesterday at the hands of Osasuna. Kickoff is at 5:15pm, and the match will be broadcast on beIN Sports 2.

Also on our radar tonight:

  • Atalanta vs. Napoli — Serie A, 4pm, Starzplay;
  • AC Milan vs. Parma — Serie A, 9pm, Starzplay;
  • Villarreal vs. Valencia — La Liga, 10pm, beIN Sports 3;
  • Strasbourg vs. Lyon — Ligue 1, 9:45pm, beIN Sports 2;
  • Nantes vs. Le Havre — Ligue 1, 6:15pm, beIN Sports 4.

This publication is proudly sponsored by

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Mark Your Calendar

Pay Layali Cairo West’s Ramadan boutique market a visit

🛍️ The Garden Market joins Layali Cairo West for a special Ramadan experience — a boutique market featuring handpicked Egyptian brands, as well as iftar and suhoor setups. The tent experience runs from Tuesday, 24 February, through Saturday, 28 February, and continues for two consecutive weekends until Saturday, 14 March at The Arena in Cairo West, 6 October City. Doors are open from 8pm to 1am.

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GO WITH THE FLOW

What the markets are doing on 22 February 2026

The EGX30 fell 2.2% at today’s close on turnover of EGP 4.6 bn (26.4% below the 90-day average). Local investors were the sole net buyers. The index is up 18.5% YTD.

In the green: Misr Cement (+2.1%), Edita (+0.8%), and Kima (+0.4%).

In the red: Rameda (-5.7%), Fawry (-5.3%), and GB Corp (-4.7%).

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INSIDE INDUSTRY

The new rules of survival for Egypt’s fertilizer industry giants

🏭 Egypt’s fertilizer sector finds itself in a pivotal transitional phase this year as rising gas prices force a new reality on net margins. Foreign investment and a temporary European grace period have offered a lifeline for the industry, reshaping the competitive landscape, and new investments are reshaping the sector.

First, a look back: In September 2025, the government greenlit raising the supply price of natural gas for nitrogen fertilizer plants to USD 5.5 per MMBtu, up from USD 4.5. This came alongside an obligation for companies to supply 55% of their production locally under a triple quota system. Following the decision, Misr Fertilizers Production Company (Mopco) maintained its investment appeal due to long-term gas contracts that mitigated the impact, and Abu Qir Fertilizers faced margin pressure — with an estimated 15% erosion in returns for every USD 1 increase in gas costs, despite a positive outlook backed by exports and supply stability, according to a recent research memo from EFG Holding seen by EnterpriseAM.

The decision was more than a subsidy cut; it was a move to bridge a massive fiscal gap. The production cost of a ton of fertilizer exceeds EGP 11k, while it’s sold to farmers for just EGP 4.5k. This drove the annual subsidy bill to over EGP 40 bn, prompting the government to reprice gas to ensure a continuous supply and prevent plant shutdowns, while allowing companies room to compensate through exports, Agriculture Minister Alaa Farouk said at a press conference attended by EnterpriseAM.

China’s Asia Potash revealed a plan for an integrated phosphate fertilizer complex in Upper Egypt, with investments ranging between USD 7-10 bn. The project is expected to reach an annual production of 2 mn tons, all for export via Safaga, with a shift toward using green ammonia. Simultaneously, the cost of reviving the state-owned Delta Fertilizers has risen to EUR 510 mn to restart urea and ammonia plants following a five-year hiatus.

A European reprieve, albeit one with conditions: Europe is moving toward granting Egyptian exports a temporary exemption from the Carbon Border Adjustment Mechanism (CBAM) until the end of 2027. This spares manufacturers an estimated USD 317 mn in carbon surcharges annually, giving them time to adapt. The exemption comes amid pressure from France and Italy to suspend CBAM specifically for fertilizers, fearing a 25% cost spike for their farmers.

However, environmental standards have become a de facto entry requirement for global markets, with international tenders now demanding carbon compliance certificates, according to El Nasr Company for Intermediate Chemicals Export Manager Ahmed Adel, who further added that the company aims to raise exports to over USD 1 bn within two years, up from USD 620 mn in 2025.

Financing as a competitive advantage: The Federation of Egyptian Industries (FEI) launched the “Access to Finance” initiative to support the green transition. This includes creating a database of loans and grants to help companies prepare fundable projects, as environmental compliance becomes a prerequisite for credit, Executive Director of the Environmental Compliance Office at the FEI Ahmed Kamal tells us.

Trade relations with India, one of the world’s largest fertilizer importers, have also seen a strategic shift. Egyptian chemical and fertilizer exports to India surged by 176% to reach USD 224 mn in 2025, according to Chemical and Fertilizers Export Council Chairman Khaled Abu Al Makarem, who added that Singapore-based chemical company Indorama intends to up its investments in Egypt to USD 1 bn.

Global markets are transitioning toward price stabilization. Urea prices are expected to trend slightly downward, averaging roughly USD 390 per ton — down from USD 422 in 2025 — due to improved global supply despite ongoing Chinese restrictions. Phosphate remains buoyed by global shortages, while ammonia is normalizing as supply chain disruptions ease.

Early stockpiling by European buyers ahead of carbon tax regulations could dampen demand in 1H, according to EFG Holding research. As the market enters a price-stabilization phase, companies are becoming more sensitive to pressure from international buyers, who leverage sustainability requirements and knowledge of producer inventory levels to squeeze prices, Adel tells us.


🗓️ FEBRUARY

24 February – 14 March (Tuesday-Saturday): Ramadan Premium Market at the Arena, Cairo West.

27-28 February (Friday-Saturday): Ramadan on the Farm at Hazel Farm.

28 February – 11 March (Saturday-Wednesday): Qahrawya Iftours.

MARCH

3 March (Tuesday): Angham at Al Mashrafia tent, the Grand Egyptian Museum.

6 March (Friday): The Women’s Night 5K Race with Cairo Runners at Promenade, New Cairo.

6 March (Friday): Wust El Balad at Gomhouria Theatre, Downtown.

21 March (Saturday): Eid Al-Fitr.

27 March (Friday): Wegz at the PUBG Mobile anniversary carnival, the Great Pyramids of Giza.

APRIL

2 April (Thursday): Hany Shaker at Theatro Arkan.

13 April (Monday): Sham El Nessim.

25 April (Saturday): Sinai Liberation Day.

MAY

1 May (Friday): Labor Day.

26 May (Tuesday): Arafat’s Day.

26 May (Tuesday): Andrea Bocelli at the City of Arts and Culture in the New Administrative Capital.

JUNE

16 June (Tuesday): Islamic New Year.

30 June (Tuesday): June 30th Revolution.

JULY

23 July (Thursday): July 23rd Revolution 1952.

24 July (Friday): Adriatique at the North Coast.

AUGUST

21 August (Friday): Black Coffee at Cubix North Coast.

25 August (Thursday): Prophet Muhammad’s Birthday.

OCTOBER

6 October (Tuesday): Armed Forces Day.

24 October (Saturday): Blue 25th Anniversary Tour at New Capital.

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