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WHAT WE’RE TRACKING TONIGHT

EGP holds steady after days of steep losses

Good afternoon, friends. It’s another busy day in the press, and the news cycle isn’t showing any signs of slowing down. At home, we’re taking a look at how the EGP is faring.

THE BIG STORY TODAY-

📍 The EGP held steady in midday sessions following several days of steep losses after Egypt received a USD 2.3 bn disbursement from the IMF, covering the fifth and sixth reviews of our USD 8 bn EFF and the first review of our Resilience and Sustainability Facility, a senior official source told EnterpriseAM. The greenback was changing hands at EGP 50.14 (buy) and EGP 50.24 (sell) at the National Bank of Egypt, Banque Misr, and the CIB.

While the CBE will retain the USD liquidity, the EGP equivalent of roughly USD 2 bn will be directed to the Finance Ministry to help plug the budget gap, with the remaining USD 297 mn earmarked for the Environment Ministry.

Despite the timely buffer, officials remain cautious as “hot money” outflows hit approximately USD 2 bn since the start of the war — a level one of our sources says remains “within safe limits.” The CBE is currently “maneuvering” to contain market spillover as rising oil and shipping costs threaten to push exchange rates to record levels, our source noted.

^^ We’ll have more on this story in tomorrow’s edition of EnterpriseAM.

THE BIG STORY ABROAD-

🌐 The regional war continues to dominate headlines as threats to oil supply pushed oil prices up 1% this morning. Brent Crude rose to nearly USD 84 per barrel, and WTI Crude climbed to USD 75.1 per barrel. The price shock is rattling Asian markets, with South Korea’s Kospi making headlines following a record 12.1% plunge amid a tech sell-off and growing investor fears. European stocks steadied after earlier losses, with the Stoxx 600 up 1.4% at the time of publication.

^^Read more on: BBC, Bloomberg, CNBC, and Reuters here and here.


Also in today’s issue: We break down how you can kick off your freelancing journey, and take a look at a modern classic that remains relevant today.

So, when do we eat? Maghrib prayers are at 5:56pm in the capital, and you’ll have until 4:50am tomorrow to hydrate and caffeinate ahead of fajr.

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

  • As foreign outflows from the local debt market topped USD 885 mn yesterday, the CBE refused to burn reserves to defend the currency, instead letting the EGP slide past 50 to the greenback;
  • The Madbouly government is pressing ahead with its IPO program with plans to list 20 state-owned companies this year, targeting USD 6 bn in proceeds;
  • The EGX30 sprint to 60k is likely to take longer than some market participants initially expected as market sentiment shifts to “neutral” on Egyptian equities, marking a retreat from one of the year’s most ambitious targets.

TOMORROW’S WEATHER- We’re in for more of the same on the weather front in the capital tomorrow, with a high of 21°C and a low of 12°C, according to our favorite weather app.

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THE ENTERPRISE GUIDE

What to know before going freelance

💻 Since the pandemic and its lingering impact, the remotework model has reshaped the job market — and freelancing has surged alongside it. Amid widespread job uncertainty, both recruiters and job seekers started opting for the freelance route. Today, a staggering 1.57 bn people — nearly half of the global workforce — freelance.

And in Egypt? An estimated 30% of the labor force is self-employed, with a 2023 World Bank report showing that demand for online gig work in developing nations is growing at rapid speeds compared to industrialized ones. Looking to make that pivot? Here’s what you should know (and do).

The basics

So you’ve decided to freelance — is your portfolio ready? It’s not only important to have a decent portfolio, but one that attracts your target clients. If you’re a developer, CodePen and GitHub are your best friends. A digital creator? Make sure you have a project-filled, personal website to show for it. Platforms like Behance, Medium, or Substack are great fits.

#1- Show, don’t tell: Process documentation is also a great way to make yourself visible and drive traffic to your portfolio. Make people a part of your journey on your social media — show them the behind-the-scenes of your projects, share tips and tricks that could potentially help them in their journeys, and show off client success stories.

If your work is customer-oriented, customer journey maps — simulations of your product or service that allow potential clients to envision the experience that you deliver — can be powerful tools. For you, it can also help track the emotions and thought processes of your customers at each stage of their journey, helping identify pain points, unfulfilled needs, and avenues for positive change.

#2- Practice discipline: Being a freelancer means you’re not tied down by the traditional 9 to 5. You’re left to your own schedule and your procrastination habits. So instead of finding yourself overwhelmed with a ton of tasks in a short period of time, manage your time wisely and set a routine.

You can start by implementing research-backed techniques, such as energy-based scheduling, which helps you tune in into your energy levels so you can optimize your productivity by scheduling your work hours around them. The Pomodoro Technique has also been famously known to boost production — the trick is that you work in intervals, traditionally 25 minutes of work, and take short breaks in between.

If you really struggle to manage your time, regularly logging time audits allows you to see how you’re really spending your time. Start by monitoring your daily tasks for a set period — five days, a week, or a month — and log your time. Analyzing your time-spending habits reveals areas in your schedule for productivity and efficiency improvements. Making use of time tracking software, a to-do list, and a calendar can help you log your time more efficiently.

#3- Know your worth: Unlike corporate roles, freelancing doesn’t come with a pricing manual. To navigate this, start by setting a fair hourly rate to establish a baseline for your value. Here is how to sharpen your pricing strategy:

  • Market Research: Use platforms like Wuzzuf, Bayt, Fiverr, Upwork, and Elharefa to benchmark what competitors charge and what companies are willing to pay;
  • Networking: Connect with peers in your field to get real world insights into current market rates;
  • Selective commitment: Don’t be afraid to walk away from below-market offers that undervalue your expertise;
  • Efficiency: Use invoicing and accounting tools to streamline financial management and save time.

Skill building & maintenance

Freelancers often operate as a one-person agency, handling tasks that would typically be accomplished by an entire corporate team.

#1- Master the T-shaped skill set: A concept Forbes once described as the future of work, the vertical bar of the T represents depth, which is your core expertise and the specialized mastery that makes you an authority in your primary field. Conversely, the horizontal bar represents breadth — your ability to collaborate across disciplines and apply broad knowledge to areas outside your primary niche. By deliberately developing deep expertise alongside complementary skills, you make yourself uniquely valuable. You are not just a specialist; you are a versatile problem-solver who understands how your work fits into the bigger picture.

#2- Invest in your education: Allocate a percentage of your income toward courses, books, and tools to continuously expand your expertise. Remote learning is more accessible than ever through platforms like Coursera, LinkedIn Learning, edX, or Udemy for technical skills — or SkillShare and Masterclass for creative growth — making it simple to obtain new certifications. Beyond digital courses, you should engage in competitions and workshops to stay competitive. In Egypt, events like the Techne Summit provide specialized workshops for technology fields in Cairo and Alexandria — while the Sync Summit and Creative Industry Summit offer invaluable talks and hands-on sessions led by professionals across various creative industries.

#3- Stay up to date: Systematically evaluate emerging tools in your field to stay ahead of rapid industry shifts. It is equally vital to create a skills depreciation timeline by identifying which of your current abilities may lose value within two to five years. As automation and generative AI reshape several professions, regular research into the future of your role is essential. While certain tasks may be replaced, newer and more complex versions will emerge — staying one step ahead allows you to evolve your skills and anticipate market demands.

#4- Establish a proactive feedback loop by inviting clients or employers to provide actionable insights and identify gaps in your work. Satisfied clients are more likely to offer repeat business or referrals, so consider scheduling fixed check-in sessions — biweekly or monthly — to make professional growth a habit. Even when you expect a difficult conversation, hearing direct feedback is always more productive than avoiding it.

Amid these professional demands, remember to prioritize self-care and set clear boundaries with clients. To combat the isolation that often accompanies solo work, join freelancer communities or utilize coworking spaces to find fresh air and meaningful human connection.

(** 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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Under the Lamplight

Exploring one of José Saramago’s most defining literary works

💡 Reading Portuguese Nobel laureate José Saramago is like love at first sight — and his 2000 novel The Cave is no exception. The novel, translated into English by the British Margaret Jull Costa, served as our gateway into his world of philosophy, reflection, and masterful storytelling. Saramago brilliantly succeeds in transporting the reader into a complete universe, filled with characters, stories, and crises that perfectly capture the human condition.

The Cave follows Cipriano Algor, a potter and ceramics merchant in his 60s who lives with his daughter Marta and her husband Marcial in a small, quiet village. The winds of change sweep through the small family’s life with the establishment of “The Center” — a massive entity running a sprawling commercial and residential complex. When The Center refuses to accept Cipriano’s products, both father and daughter find themselves facing the challenges of a capitalist system that crushes simple craftsmen under the gears of mass production.

Saramago masterfully critiques the fate of the modern man, whom he views as a guilty victim — one who has fallen into the trap of capitalism and hyper-consumption. The story’s allegory dwells on how this system has transformed human beings into creatures enamored with all things manufactured, gradually stripping them of their value as individuals until they dissolve into a machine that commodifies every aspect of life.

In one of the novel’s striking ironies, the protagonist is astonished by how people in his city flock to The Center to experience a simulated rainstorm inside one of its halls, while outside, nature teems with the manifestations of the four seasons year-round — equally available to everyone.

As the title suggests, Saramago draws inspiration from Plato’s famous Allegory of the Cave, with The Center serving as the symbolic cave that imprisons individuals, trapping them within a deluge of around-the-clock ads and products all within a captivating virtual, parallel reality that mimics a life not yet extinct. The fundamental difference between Saramago’s cave and Plato’s is that the prisoners of the former entered of their own will — or perhaps they became so intimately familiar with it that it ceased to feel like a prison at all.

This was a beautiful read, serving as the perfect introduction to the world of a genius author. Even 16 years after his passing, Saramago’s work lives on as inspiration for stories that draw from the human soul — expressing its concerns, dilemmas, and tragedies with grace, wit, and captivating prose.

WHERE TO GET IT- You can keep an eye out for a restock of the paperback at Diwan. You can also find the eBook on Kobo. The Arabic edition is available at Nile Wa Furat.

This publication is proudly sponsored by

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Sports

All the major European league fixtures on our radar tonight

In the Premier League: Manchester City faces Nottingham Forest on beIN Sports 2, while Arsenal meets Brighton on beIN Sports 4, with both matches kicking off at 9:30pm. The Cityzens, currently in second place with 59 points, are looking to catch up with league leaders Arsenal (64 points). Arsenal recently extended their lead to five points following a 2-1 victory over Chelsea.

Other Matchweek 29 fixtures on our radar:

  • Fulham vs. West Ham United — 9:30pm, beIN Sports 5;
  • Aston Villa vs. Chelsea — 9:30pm, beIN Sports 3;
  • Newcastle vs. Manchester United — 10:15pm, beIN Sports 1.


In the Copa del Rey: Real Sociedad faces rivals Athletic Bilbao in the second leg of the Copa del Rey semi-finals. Sociedad enters the match looking to assert dominance after securing a 1-0 first leg victory. Kick-off is at 10pm on MBC Shahid.

The victor of tonight’s match will face Atlético Madrid in the final. Atlético qualified yesterday at the expense of Barcelona, advancing with a 4-3 aggregate score.

In the major European leagues: Lazio takes on Atalanta in the first leg of the Coppa Italia semi-finals. The match kicks off at 10pm on MBC Shahid. In the Coupe de France, the quarter-finals begin with Lorient vs. Nice at 9:30pm on beIN Sports 6, and Marseille vs Toulouse at 10pm on beIN Sports 8.

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Mark Your Calendar

Come October, we’ll be feeling a little Blue

🔊 Sorry seems to be the hardest word, but come October, English boy band Blue will be singing it for all to hear at the New Capital. The internationally acclaimed stars are paying Om El Donia a visit as part of their 25th anniversary tour on Saturday, 24 October. Expect high-energy performances, Y2K classics, and a whole lot of fun — you can secure your tickets through Ticketsmarché.

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GO WITH THE FLOW

What the markets are doing on 4 March 2026

The EGX30 fell 0.6% at today’s close on turnover of EGP 8.1 bn (27.4% above the 90-day average). International investors were the sole net sellers. The index is up 11.1% YTD.

In the green: Egypt Aluminum (+7.6%), Qalaa Holdings (+4.0%), and Fawry (+2.0%).

In the red: Kima (-4.9%), Eastern Company (-3.7%), and GB Corp (-3.5%).


🗓️ FEBRUARY

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

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

MARCH

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

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

9 March (Monday): Layalina Ramadan Tent at Mohamed Ali Palace.

21 March (Saturday): Eid Al-Fitr.

22 March (Sunday): Burna Boy at Festival Plaza, El Gouna.

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

APRIL

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

7 April (Tuesday): Shakira at the Pyramids of Giza.

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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