Good afternoon all you wonderful people, and happy Thursday. We have another busy issue for you, with the latest on two new SCZone factory openings, extreme heat’s impact on your epigenetic age, and the increasingly large premium we’re paying for silence.
THE BIG STORY TODAY
Madbouly inaugurates new factory, factory expansion, in SCZone’s Sokhna Industrial Zone: Prime Minister Moustafa Madbouly inaugurated a new EUR 80 mn medical and industrial gas production factory established by French multinational Air Liquide in the Suez Canal Economic Zone’s (SCZone) Sokhna Industrial Zone, according to a cabinet statement. The factory — which began full scale operation last August — specializes in the production of oxygen, nitrogen, and argon with a daily gas output capacity of nearly 1.2k tons.
The PM also inaugurated the expansion of a cement board and wall manufacturing facility run by CBoard, a member of Saudi construction materials manufacturer conglomerate Beam, according to a separate cabinet statement. The newly inaugurated expansion includes a cement board plant with a price tag of USD 25 mn and a gypsum board manufacturing facility for USD 15 mn, bringing total investments in the facility to USD 100 mn. Half of the company’s production is set for export.
THE BIG STORY ABROAD
The int’l headlines continue to be dominated by developments in US president Donald Trump’s America, with news that US Supreme Court chief justice John Roberts has temporarily halted a federal judge’s order for the Trump administration to release frozen foreign funds for US development contractors and aid recipients. Roberts did not offer a rationale for the decision, though it’s expected to give the conservative-dominated Supreme Court time to review the case.
Over in Turkey, US and Russian diplomats are meeting to discuss embassy disputes. This marks another step in a broader effort to improve relations under Trump’s administration and negotiate an end to the war in Ukraine, Reuters reports.
AND OVER IN BUSINESS NEWS- Microsoft is reportedly set to urge the Trump administration to relax AI chip export restrictions for US allies imposed by the Biden administration.
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** CATCH UP QUICK on the top stories from today’s EnterpriseAM:
- All state-owned companies under the SFE? The Madbouly government is aiming to transfer the administration of all state-owned companies to the Sovereign Fund of Egypt (SFE) in order to boost their returns.
- Kouchouk lays out the details of the new social protection package: Finance Minister Ahmed Kouchouk shared the details of the government’s long-awaited social protection package of wage and pension hikes and support to Egypt’s most vulnerable yesterday following the cabinet’s weekly meeting.
- Ford shuts down local retail operations: US-based automaker Ford Motor Company discontinued new vehicle sales in Egypt, effective 26 February.
☀️ TOMORROW’S WEATHER- The capital is continuing its sunshine streak tomorrow with the mercury set to rise to a warm high of 22°C before dropping to a cooler low of 12°C in the evening, according to our favorite weather app.





