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Where things stand three days into the war

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WHAT WE’RE TRACKING TONIGHT

EGP slips following foreign investor exits

Good afternoon, ladies and gentlemen, and welcome back. It’s another hectic afternoon in the press as the situation in the region continues to escalate. We’ve got the rundown for you below.

PSA: Our website is still down. EnterpriseAM.com is one of the many, many services hosted on Amazon Web Services out of the UAE. The data center that hosts our site — and the apps and websites of dozens of other brands you know — was damaged after “objects hit” it, reportedly starting a fire and leading to a power outage. Our site has been down since mid-afternoon on Sunday and we're yet to hear from Amazon when we can expect it to be back up.

THE BIG STORY TODAY-

📍 EGP nears 50/USD amid FX pressures: The EGP weakened toward the EGP 50 per USD mark in Monday’s trading — its lowest level in about 10 months — as foreign investors exit and rising demand for FX to finance accelerated imports of strategic commodities put fresh pressure on the currency.

Bankers told EnterpriseAM that the exchange rate could soon test levels above EGP 50 if regional tensions persist, though officials say allowing the currency to move flexibly should help attract inflows, finance outflows, and prevent broader imbalances.

Authorities stress that reserves remain secure and that the Central Bank of Egypt is closely monitoring developments, with emergency policy measures — including a potential rate hike — on the table if conditions deteriorate, even as policymakers emphasize that a return of the black market will not be tolerated.

^^ We’ll have more on this story and other angles on the unfolding regional conflict in tomorrow’s edition of EnterpriseAM.

THE BIG STORY ABROAD-

🌐 Oil prices are dominating the digital front pages this afternoon as they continue to soar amid the ongoing US-Iran war. As shipping through the Strait of Hormuz comes to a halt, Brent crude prices jumped 10% to USD 79.9 a barrel — rallying as much as 13% to USD 82 intra-day — while US crude rose 8.2% to USD 72.6 a barrel as of the time of publication. Gold jumped 2.6% to USD 5.4k per ounce, while the USD and CHF both strengthened. Meanwhile, stocks in Europe took a hit, with the pan-European Stoxx 600 down nearly 2% as European gas prices climbed 24%.

^^Read more on: Bloomberg, the Financial Times, Reuters, the Wall Street Journal, and CNBC here and here.

Following Iran’s strikes across the Gulf, the region is facing widespread business disruption as airports in Dubai and Doha remain closed and major airlines halt operations, causing major losses. Asian and European airline stocks were in the red by as much as 8% in one of the sharpest aviation shocks in recent years.

^^Read more on: CNBC and Reuters here and here.


Also in today’s issue: We tell you what you need to know before hitting the gym for your pre-iftar workout, and take a look at what work-life balance means for working moms.

So, when do we eat? Maghrib prayers are at 5:55pm in the capital, and you’ll have until 4:53am tomorrow to hydrate and caffeinate ahead of fajr.

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

  • The EGP slid 1.7% against the greenback yesterday as banks opened to execute exit orders that saw the EGP slip to nearly 49 against the USD. Outflows kept up the pace, as none of the US, Israel, or Iran showed signs they would be putting down their weapons anytime soon;
  • The gov’t is weighing the transfer of seven state-owned companies to the Sovereign Fund of Egypt, including Egypt Aluminum, Misr Fertilizers Production Company, Abu Qir Fertilizers, CID Pharma, Zahraa Maadi for Investment and Development, and Heliopolis Housing;
  • Interest payments on public debt jumped 40.9% y-o-y in 7M FY 2025-26, reaching EGP 1.5 tn, as high interest rates and a large debt stock continued to drive servicing costs.

☀️ TOMORROW’S WEATHER- It’s going to be another cool day in the capital, with the mercury set to peak at a high of 20°C, with a low of 10°C, according to our favorite weather app.

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AFTER HOURS

Hitting the gym while fasting? Here’s what you need to know

🏋️ One of the things that we appreciate most about Ramadan is a schedule that is set in stone. That hard stop to whatever it is you are doing right around sunset is a welcome change to open-ended workdays, conflicting family schedules, and intrusive phone calls, and messages at all hours of the day and night. It doesn’t quite make up for the caffeine deprivation, but it does provide a certain balance to the day.

Ramadan is a chance to reset and recalibrate everything from spirituality to mealtimes and exercise routines. The last hour and a half before sunset is prime workout time for many. Sporting clubs and gyms are packed with people exerting that final burst of communal energy before they break their fast. But there’s still a running debate on whether those pre-iftar workouts are effective, or even safe.

When should you work out?

What does the science say? That depends on who you ask. While there haven’t been a lot of medical studies on the impact of prolonged periods of fasting (without water) and exercise, the consensus seems to be that the ideal time to exercise is when you have a little bit of food and water in your body to fuel your system. It is, however, still possible to exercise safely while fasting during Ramadan, according to doctors that we spoke to, as long as you listen to your body and take a few simple guidelines into consideration.

A number of changes occur in the body while fasting that we should be aware of. After 8-12 hours without fresh energy sources, liver glycogen levels drop significantly and the body begins transitioning to alternative fuel sources. Insulin drops and fat burning increases, explains Dr. Hesham Sullamy, a physical medicine specialist at Oasis Clinics. He notes that hormonal shifts also occur with an increase in glucagon and a slight rise in growth hormones. “All of this may result in some of us experiencing a burst of energy in the final hours of fasting during Ramadan. That’s why it’s a good time to exercise for some people but it’s definitely not for everyone.”

Do we burn more fat when we exercise while fasting?

Strictly speaking, yes. Combining exercise with fasting helps you lose more weight than fasting or exercising alone. Aerobic exercise in a fasted state causes you to burn more fat as fuel, says Sullamy, “but we really have to watch what we eat and drink afterwards.”

The problem is hydration

Water intake is vital, and this is where issues can occur for some people. If you are in good physical shape, without serious pre-existing conditions, and already follow a regular exercise routine, Sullamy does not see a problem with fasting exercise. “You should by no means start any kind of new exercise routine in Ramadan.” He also cautions those over the age of 60 or those with systemic issues such as hypertension, diabetes or kidney disease to be careful, seeing as these conditions are more likely to lead to a mineral (electrolyte) imbalance that can cause cramping, fatigue, tingling in the hands and feet, and dizziness.

The kinds of food and amount of water we consume between sunset and sunrise also make a big difference in our pre-iftar athletic performance. In addition to drinking enough water, nutritionists recommend consuming hydrating foods such as fruits, vegetables, soups, and yogurt. Adding a protein shake to your diet during Ramadan can also be beneficial because it can be difficult to consume all the protein your body needs when you aren’t eating throughout the day.

Tips for working out while you’re fasting

Whether you are strength training or doing cardio, it’s a good idea to modify your expectations for your Ramadan workout, according to the Cleveland Clinic guidelines on working out while fasting. The recommendation is to get in a decent workout, but Ramadan is not the time to challenge yourself. The focus should be on quality rather than quantity, and easing into your Ramadan workouts. Even if you've been doing the same classes and the same reps all year, it takes time for your body to adjust to exercise while fasting.

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Ears to the Ground

Best of Both Worlds: On finding work-life balance

👂 Achieving work-life balance is no easy feat, and when family duties are in the mix, that equilibrium becomes even harder to reach. On Best of Both Worlds, hosts (and working parents) Laura Vanderkam and Sarah Hart-Unger guide listeners towards the balance that so many of us strive for. From juggling childcare and house chores to mapping out long-term career goals, working moms do not bear an easy load — but Vanderkam and Hart-Unger have the strategies to make things a little easier.

Best of Both Worlds covers all the ways you can navigate two hectic worlds at once. The episodes feature interviews with successful women who share their personal journeys, with topics including general life advice, career development strategies, personal habit formation, parenting tips, time management techniques, and more. The two hosts hold freewheeling, lively conversations that make for an easy and wholesome listen, often closing off their episodes with thoughtful Q&A sessions.

In one episode, Vanderkam and Hart-Unger invite Lauren Kuratko, an Episcopal priest. A mother and a full-time priest, Kuratko talks about her path in ministry and how she manages a busy job while also taking care of her kids and nurturing her personal wellbeing and spirituality. As the only full-time employee at her church, she often has to juggle multiple duties on top of her main role. She talks about how time-logging has helped her manage her time better and set her working priorities straight — ultimately helping her divide her time and energy.

Across 30-minute episodes, Best of Both Worlds offers listeners a warm space to relate to career and personal troubles while picking up a few practical tips on managing stress.

WHERE TO LISTEN- You can tune in on Apple Podcasts | Amazon Music | iHeart | Spotify.

This publication is proudly sponsored by

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Sports

Tonight: Real Madrid in La Liga

Real Madrid faces Getafe in Matchweek 26 of La Liga tonight at 10pm. Currently in second place with 60 points, the Merengues aim to bounce back from their recent 2-1 defeat against Osasuna. They are looking to secure three points to narrow the gap with league leaders Barcelona (64 points) to just a single point. The match will be broadcast on beIN Sports 1.

In the Nile League, Matchweek 20 action continues with two fixtures kicking off at 9:30pm. Al Ittihad will take on Ghazl El Mahalla on ON Sport 1, while Pharco and Kahraba Ismaily face off on ON Sport 2.

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Mark Your Calendar

Don’t miss Burna Boy live in Gouna

🎤 Famed Nigerian singer Burna Boy is landing in Egypt on Sunday, 22 March at El Gouna’s Conference and Culture Center. The singer will be bringing his chart-topping Afro-fusion music to the stage. You can book your tickets on Ticket Egypt.

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GO WITH THE FLOW

What the markets are doing on 2 March 2026

The EGX30 fell 0.6% at today’s close on turnover of EGP 4.7 bn (26.4% below the 90-day average). Local investors were the sole net buyers. The index is up 14.0% YTD.

In the green: Egypt Aluminum (+5.9%), Misr Cement (+5.9%), and Heliopolis Housing (+5.7%).

In the red: Raya Holding (-4.9%), TMG Holding (-2.4%), and EFG Holding (-1.9%).


🗓️ FEBRUARY

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

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 El Gomhouria Theatre, Downtown.

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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