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THE WEEK IN REVIEW

Banks ease FX curbs as liquidity improves

Good morning, friends, and happy weekend. We’re in for quite the warm weather this weekend, so if there’s a pool in your vicinity, we’d suggest jumping right in.

Find yourself going over budget on the regular? You might want to take a look at how much you’re spending on food delivery to your office. For this week’s edition of The Enterprise Guide, we’re taking a look at ways you can handle meal prepping like a pro, from grocery shopping tips and tricks to packing essentials.

LAST WEEK IN 3 MINS-

BANKING-

Banks are loosening FX restrictions in the latest sign that the FX crunch is behind us: Several lenders announced that they are slashing fees and loosening restrictions that were meant to dampen demand for foreign currency used by travelers and credit card users. The move comes as the Central Bank of Egypt and commercial banks respond to stronger USD liquidity, boosted by higher tourism revenues, and an uptick in remittances, exports, and portfolio investments.

AUTOMOTIVE-

Egypt’s car market is seeing price cuts of 25-30% across many brands, industry sources told EnterpriseAM. The reductions followed a string of local manufacturing announcements that boosted demand for upcoming models and as companies look to clear old inventory.

Customers in the market are seeing significant reductions of popular models, including Chevrolet’s Captiva with EGP 350k knocked off the price tag, Chery Tiggo 7 down by EGP 140k, Tiggo 8 down by EGP 225k, Hyundai Tucson down by EGP 151k, and Geely Star Ray down by EGP 100k. All Jetour models have been reduced, with reductions up to EGP 224k.

RETAIL-

Major home appliance providers reduced their prices by around 20% in response to a government initiative to reduce prices by 15-20%, as well as a stronger EGP against the greenback, leading local players told EnterpriseAM.

Part of the reason is overproduction and market stagnation, which has pushed manufacturers to respond by cutting prices, head of the Federation of Egyptian Industries’ Home Appliances Division Hassan Mabrouk told EnterpriseAM. Seasonal air conditioner sales have seen low demand despite extreme heat, pushing distributors to give up a large portion of their margins in exchange for sales incentives to fulfill their quotas from manufacturers, he explained.

ECONOMY-

#1- Stronger EGP is seen boosting economic outlook: The EGP’s rebound against the USD this year is poised to stimulate the country’s GDP growth over the coming years and ease risks from the current account deficit, Capital Economics’ James Swanston wrote in a research note seen by EnterpriseAM.

#2- Annual headline urban inflation cooled further in July by a whole percentage point, falling to 13.9% from 14.9% in June, according to data from state statistics agency Capmas seen by EnterpriseAM. The rate of inflation is now at its slowest pace since March 2025.

INVESTMENT WATCH-

#1- Chinese tiremaker Sailun Group will invest USD 1 bn to build an automotive tire plant in the China-Egypt Teda industrial zone within the Sokhna Industrial Zone. The 350k sqm facility will be developed in three phases over three years.

#2- SCZone signs USD 85 mn Chinese flooring plant in Sokhna: China’s Jiangsu Zhengyong Flooring Decoration Material Co. will invest USD 85 mn to build a plant in the Ain Sokhna industrial zone to produce PVC/WPC/SPC flooring and wall panels, SCZone said in a statement. The facility targets annual output of 27 mn sqm, with 90% earmarked for export and around 500 direct jobs.

#3- Steel manufacturers are rolling out major expansion plans to boost capacity, diversify products, and increase export volumes. Ayad Group will invest USD 10 mn in 2025 to expand its offerings for the automotive sector, while El Gallad Steel is set to invest EGP 2-3 bn to expand its cold-rolled sheet metal factory with plans to double production capacity and increase its export share. Finally, Misr National Steel (Ataqa) applied for a steel billet production license from the General Authority for Industrial Development.

? AROUND THE WORLD IN SEVEN DAYS-

The Trump administration is reportedly in talks to buy a stake in Intel, which has struggled to keep up with the pace of change in the industry and is currently on a cost-cutting spree. US President Donald Trump had called for the ouster of Intel’s CEO Lip-Bu Tan citing a conflict of interest due to his earlier ties to China. The move would also be one of several interferences from Trump in US industries — he also took a so-called golden share in United States Steel Corp. to allow its sale to Japanese rival Nippon Steel. (Wall Street Journal | Reuters | CNBC | Bloomberg)

Tech firms Nvidia and Advanced Micro Devices (AMD) reached an agreement with the US government to pay a 15% fee on their chip sales to China. Nvidia will pay the fee on its H20 chips, while AMD will pay the fee on revenues from its MI308 chips. The levy comes in exchange for the companies receiving licenses to export semiconductors to China, following reports over the weekend that the US Department of Commerce had begun issuing export licenses for Nvidia’s H20 chips.

ALSO FROM THE TECH WORLD- AI startup Perplexity made an unsolicited USD 34.5 bn offer to acquire Google’s Chrome browser, in a bid that would see the startup pay more than its own valuation. The offer comes ahead of an expected antitrust ruling later this month that could require Google to sell its web browser.

Wall Street traders are dialing back expectations of a rate cut next month after fresh data on wholesale price inflation showed a higher-than-expected increase in wholesale prices as the effect of tariffs seem to begin trickling down to consumers. The odds of a September cut have now fallen to 85%, down from more than 100% earlier, ahead of the meeting. (Bloomberg)

MEANWHILE- Trump threatened Russia with “severe consequences” if Russian President Vladimir Putin doesn’t agree to a ceasefire during their upcoming meeting, and has agreed with the leaders of Ukraine and other European countries that he would not enter territory negotiations with Putin today.

Washington and Beijing decided to extend their tariff truce for another day: Trump confirmed on Truth Social overnight that he signed an executive order to extend the pause, just hours before the US’ blanket tariffs on Chinese imports were scheduled to come into effect. “All other elements of the agreement will remain the same,” Trump said.

REGIONALLY- Israeli Finance Minister Bezalel Smotrich greenlit a plan to build a settlement with more than 3k homes in the occupied West Bank, in a bid to “bury” the idea of a Palestinian state, Reuters reports. The settlement, dubbed the E1 project, would cut off East Jerusalem from the West Bank, further limiting movement between cities for Palestinians.

ALSO- Over 100 international organizations have inked a joint letter calling for an end to Israel’s “weaponisation of aid” amid starvation. The signees include humanitarian groups Oxfam and Médecins Sans Frontières (MSF), who noted that they constantly risk being banned from entry in the case of noncompliance with Israel’s “vague and politicised criteria.” Israel’s aid registration requirements include the “mandatory submission of details of private donors, complete Palestinian staff lists, and other sensitive information about personnel for so-called ‘security’ vetting to Israeli authorities,” the letter reads.

☀️ THE WEATHER THIS WEEKEND-

If you’re staying in Cairo, we’d recommend staying cool and indoors, as temperatures are set to peak at 40°C on Friday with a low of 26°C. Saturday will offer a relative break from the heat, with a high of 36°C and a low of 24°C. Across the North Coast, we’re in for cooler weather, with temperatures peaking at just 29°C before cooling down to 27°C, according to our favorite weather app.

HAPPENING THIS WEEKEND-

Marwan Pablo and Lege-cy are bringing a rap night to New Alamein tonight. The two artists will perform at U Arena as part of the New Alamein Festival. Tickets can be purchased through Tazkarti.

Missing the ‘90s? Join Masrah Sokseeh for a night with 90s icon Mohamed Fouad at Porto Golf Alamein. Catch his nostalgic hits live tonight and get your tickets on Ticketsmarché.

If you’re looking to get active by the beach, now’s your chance. Fouka Bay is holding its annual Beach Festival today with a lineup of beach sports. Fuel your competitive spirit and secure your spot in one of the teams through Ticketsmarché.

What do Amal Maher and Ahmed Saad have in common? Tomorrow, they will share the stage at the Address Beach Resort. You can secure your spot by visiting Ticketsmarché.

?️HAPPENING NEXT WEEKEND-

Enjoy a night of rock classics at Cairo Jazz Club with the band Seattle. With covers of songs by the iconic Nirvana and Radiohead, get your dose of nostalgia and catch their live performance on Thursday, 21 August. Book your tickets on CJC’s website.

Stage powerhouse Wegz is back again for another epic performance at New Alamein Festival at U Arena. Don’t miss this electric night on Friday, 22 August. Get your tickets on Tazkarti.

Ready for a Bedouin night in Sahel? Well, it’s not exactly what you think it is — it’s even better. On Friday, 22 August, Brooklyn-hailing self-proclaimed nomadic DJ duos Bedouin will be bringing the sonic sandstorm to North Coast’s D-Bay. Think deep house with Middle Eastern influences…and a lot more. Tickets are available on Ticket Egypt.

Tamer Hosny is on a roll this summer, performing once more in Sahel alongside Shamy at the Address Beach Resort for Layali Marassi on Saturday, 23 August. Grab your tickets from Ticketsmarché.

How to meal prep like a pro

?It’s high time you joined the meal-prepping club: In a busy world where cooking and eating clean have become a chore rather than something to look forward to, meal planning comes to save the day. But first, how do you get started? What do you prepare, and what should you leave for later? In this week’s edition of The Enterprise Guide, we’re showing you the ropes on all things meal planning.

WHY MEAL PREP?

First things first, what’s meal prepping? Also known as batch cooking, this is where you plan, cook, and portion meals or ingredients ahead of time — usually for several days to a full week. Meal prepping is particularly ideal for fitness enthusiasts, working parents, and individuals with medical food restrictions.

It saves you money — and who doesn’t want to save a few more pennies here and there? Purchasing larger quantities of individual ingredients can lower your costs by taking advantage of bulk pricing. Above that, having prepared food in your fridge or lunch bag at work helps you avoid the pressure of ordering takeout — the easiest but not always the best option.

You adopt a healthier diet: By home cooking in bulk ahead of your busy week, you are able to avoid last minute deliveries when hunger hits. Home cooking has proved to have numerous medical benefits, including contributing to a reduced risk of type 2 diabetes and other chronic diseases. People who regularly cook at home tend to eat more nutritious meals, consume fewer calories, and experience less weight gain over time in comparison to people who frequently eat out or rely on ready-made meals.

It spares you the stress of cooking when you’re tired: After a long day, the last thing you’d want to think about is what to cook. Having several meals or ingredients prepared ahead of time saves you the hassle and daily stress that comes with making culinary decisions.

You might even save our planet: Given the fact that you would be using your kitchen appliances less, not only are you saving bills, you’re also contributing to saving energy. “It costs a lot less to have three trays cooking in the same oven at one time than to heat the oven for a single baking or roasting tray of food three times on consecutive days,” co-founder of the YouTube-based Food channel Chef Benn Ebbrell told the Guardian.

GETTING STARTED-

#1- Shop in bulk. Make a long list with all the ingredients that you will need before you shop. A one-time trip will not only save you money, but it will also allow you to have everything you will need at hand so you don’t have to go back and forth. Mobile apps with prepared grocery lists to fast-track this step include AnyList and Bring!.

#2- Chop, chop. While it may seem like an easy step to skip, having pre-chopped vegetables and fruits will help fast-track your cooking later on. Prepared salad mixes at supermarkets like Seoudi Market or Oscar Grand Stores are a recommended go-to for when you can't get yourself to the chopping board.

#3- Cook like you’re feeding a village. Whether it’s boiling, frying, grilling or steaming — most of your ingredients will need to be cooked before storing in containers. You will need to do that in big portions, so you can add a little bit of everything to your different recipes.

NOTE- You don’t always have to fully cook your meal ahead of time. Sometimes just chopping and storing ingredients can be enough to ease things for you when you cook throughout the week.

#4- Snack up. Yes, snacks can — and should — be part of your meal prepping routine, seeing as they’re a crucial component of a balanced diet. Snacks are vital to maintain energy levels throughout the day. Prepare portions of fruits, nuts, veggie sticks, crackers, and even dips to fill you up in between meals.

#5- Pack it up. Once you’re done with the hard part, it’s time to pack. Here’s a list of the essential kitchen supplies you might need:

High-quality food containers: While glass containers are ideal in terms of safety and durability, plastic containers are cheaper and more accessible. Stainless steel containers are also eco-friendly and durable, however, they cannot be microwaved or heated. You can find a slew of food storage options from Tulipe, Ikea, Mintra, and Kitchen Key.

Reusable jam and pickle jars: Ideal for salads, puddings, oatmeal and anything that tends to easily leak.

Small sauce containers: For salad dressing, pasta sauce, dips. Available from Sistema through Amazon.

Lunch bags: We suggest investing in thermal lunch boxes to keep food temperature preserved as long as possible. You can find them at Mintra, Up-Fuse and Tulipe.

AVOID MEAL FATIGUE-

#1- Switch things up. Avoid repeating meals — small changes are key. You might want to alternate sauces, greens, proteins, and grains between consecutive meals.

#2- Get creative. Look for recipes online, on social media, or even traditional cookbooks. Apps like Mealime also offer a wide variety of recipes, customized to accommodate different diet goals and body.

#3- Take breaks. Yes, meal prepping burnout is a thing. From time to time, treat yourself to takeout. After all, meal prepping is here to make life easier, not punish you.

WHAT TO WATCH OUT FOR-

While meal prepping has its many benefits, things might go sour…

#1- Don’t store your food for too long. The Food Standards Agency advises that cooked rice should be consumed after 24 hours of refrigeration. Meat, fish, grains, and pasta can be refrigerated for up to three days, provided they are stored in separate containers. Meanwhile, pasta and dairy products are more likely to go bad due to bacterial growth, and therefore are advised to be consumed earlier than other products. Fresh juices should be consumed immediately — if not, they can be refrigerated for up to two days. Always remember to stick a label with the date of storage to track expiration.

#2- Freeze it up. Experts recommend freezing food whenever possible, as fridge temperatures can rise with multiple openings throughout the day. Food can be safely stored in the freezer for up to 4 months, however, high water content foods such as celery, lettuce, cucumbers, radishes, artichokes, eggplants, and potatoes are best kept in the fridge.

#3- Mind the microplastics. While plastic containers are practical, you should always keep an eye on them. Once discolored, cracked, or reformed, it's time to throw them in the bin. Limit plastic containers to cold storage and transporting food — not reheating. Glass containers are advised for being safer, holding heat well, not absorbing smells, and higher durability.

NO TIME OR ENERGY? NO PROBLEM-

Sometimes you just don’t have the time to cook, and that’s okay. Still want to eat healthy and cut back on expenses? Luckily, there’s no shortage of meal prep providers in Egypt. Check out our guide to our favorite kitchens just one phone call — or DM — away.

Weapons is every parent’s nightmare

? Where’d the kids go? In American director Zach Cregger’s second horror film, Weapons, the comedian leaves the jokes behind and presents a haunting story where horror stems not just from spooky scenes, but from an inherently bleak concept.

Just like clockwork. In the early hours of an inconspicuous Wednesday, precisely at 2:17am, 17 children from the same class wake up. They promptly leave their homes and run through the streets of their small town with outstretched arms, before disappearing into the darkness. Their teacher, Justine (Julia Garner), is soon put under the spotlight as parents blame her for their children’s disappearance.

The movie is divided into six chapters, each following the story of one of the town’s residents before all paths intersect, leading to the final act. Cregger’s division of the plot proves successful and ideal for the nature of the mystery at hand. The movie’s sequence of events is both logical and thrilling, resulting in an engaging viewing experience.

Excellent performances all around. Garner, Austin Abrams, Alden Ehrenreich and Benedict Wong all deliver stellar performances — particularly Wong, who terrified viewers with an unexpected, chilling scene. Not to mention the movie’s central character, who we’ll let you discover for yourselves, lest we spoil.

Despite a spine-chilling and intriguing premise that earns Weapons its spot among our favorite horror movies, the movie deliberately fails to provide answers to viewers’ questions, unlike Bring Her Back — also currently screening. The presence of a motive and a reason behind the evil force at play adds a human dimension and paints a complete picture, which always fares better than a vague “it’s just evil.”

…Yet perhaps that’s why Weapons works. The movie lets audiences fill in the gaps, theorizing motives based on their own understanding. The ending was cause for much online speculation among cinephiles. Weapons is less a movie, and more a cinematic experience not to be missed.

WHERE TO WATCH- Weapons is screening at Vox Cinemas in Mall of Egypt, City Stars Cinema, and CFCM and District 5’s Scene Cinemas. You can also catch the movie at Cima Arkan and P90 Cinema. Watch the trailer on YouTube (runtime:1:55).

Take a trip to 20th century Tuscany with Still Life

? “There are moments in life, so monumental and still, that the memory can never be retrieved without a catch to the throat or an interruption to the beat of the heart.” A masterpiece of contemporary literature, Still Life by British author Sarah Winman is a heartfelt journey through mid 20th century Europe at a time when stillness in life was hard to find.

Set over a period of over 30 years, Still Life follows Evelyn Skinner, an art historian who seemingly has a hidden history of her own — as she attempts to restore artwork damaged in World War II. In a chance encounter, Evelyn comes across the peculiarly named Ulysses — a British soldier with an unusual sense of optimism in life. This meeting would result in one of the most unusual platonic relationships, unfolding across decades, and defining the rest of Ulysses’ life, who makes the move to Tuscany with his best friend, his stepdaughter, and a talking parrot after receiving an unexpected inheritance.

“Two men, a girl, and a parrot. Now that’s a story to tell.” Still Life is an ode to art and beauty, the kind of book to be read on a calm, quiet afternoon with nothing but a pillow behind your back and a cup of tea to your side. The historical novel is not all joy, however. Much like life, there are a fair share of tear-worthy moments within its pages.

Winman’s masterpiece is a hard one to summarize. Across the years, and across cities, readers are invited to slow down and savor vignettes of its characters’ lives. We’re taken back in time to discover the past of the enigmatic Evelyn Skinner, witness the ravages of war, and — in between all of that — appreciate the stillness of art. It’s a character-driven novel, not so much a plot-driven one.

The novel’s beauty lies within its prose. Winman writes with precision and eloquence, with beautiful prose that grounds itself, offering only a fleeting glimpse of the surreal. There’s a dash of magical realism, yet the kind that emphasizes rather than distracts. Winman, like many modern authors, eschews speech marks, and as such, introspections often overlap with dialogue. This might prove a tad too confusing at first, yet it adds to the reading experience. All in all, Still Life is what to pick up if life has proven rather hectic lately.

WHERE TO GET IT: You can place a special order for Still Life from The Bookspot, listen to the audiobook on Storytel, or get the ebook from Amazon. You might also want to keep an eye out on Diwan for a restock.

Soul offers beachside bites two hours away from Cairo

? Feel like road-tripping for dinner with a view? We’ve got you covered. If you find yourself in Cairo this — or any other — weekend and the thought of driving up to Sahel isn’t enticing enough, you can still have quite the appetizing day by the beach just a couple of hours away from the capital at La Hacienda Ras Sudr’s Soul. A kitesurfing center and an international restaurant by the crystalline Ras Sudr beach, Soul is where you go to feed yours.

Waves and bites: An earth-toned exclusively outdoor eatery with direct views of the water and more than the fair share of breeze, Soul operates from 10am till late night, offering breakfast, lunch, dinner, and everything in between. The menu boasts all sorts of beachside comfort favorites, and then some. If you’re going for breakfast, you’ll find everything from oriental platters to special shakshukas and health-conscious wraps. Our personal recommendation? The breakfast quesadillas — bite-sized, flavorsome, and filling.

It’s an all-day kind of culinary affair. From pizzas, wraps, tacos, and burgers to salmon bowls and beef stroganoff, there’s something for every sort of craving. On our latest visit, we opted for the stroganoff, the chicken caesar salad, the breaded chicken, and the sweet potato fries — an ideal beachside snack — and the burger pie, which proved criminally delicious, but perhaps a tad on the heavy side. The stroganoff was also a force to be reckoned with, however, the breaded chicken took the cake — naturally, nothing beats pasta and pané by the beach. Pair with a glass of lemon mint and you’ll have hit the jackpot. We’d skip out on the caesar salad, as by the time we got around to it, the wind had taken a generous portion away from us.

Come for the food, stay for the low tide. Soul’s secret isn’t just its food — the destination is lively and colorful, with dozens of kites soaring overhead offering a unique view. The best part? The sunset. As the sun begins to dip below the horizon, low tide kicks in and the entire seafloor for hundreds of metres on end transforms into sandy plains you’ll want to — and can — take an evening stroll in…perhaps with a bowl of sweet potato fries in hand.

What to know before paying Soul a visit: Prior to making your trip, reservations are required 24 hours in advance, and can be made by contacting +20 106 475 5363 on WhatsApp. Aside from your meal, you should expect to pay an EGP 600 per person entry fee — or EGP 250 after 7pm — which includes day-use beach access. If you have a furry friend, you’ll unfortunately have to leave them — and your loud bluetooth speakers — at home.

WHERE TO FIND SOUL- Soul is located right on the beach in Ras Sudr’s La Hacienda residential village, right next to Fade Hotel.

? Per person: EGP 800-900

? Outdoor seating: Yes

? Alcohol: No

? Accessibility friendly: No

Spilling the tech tea

?Keeping up with tech news in this day and age can be overwhelming. If Silicon Valley headlines are at the top of your radar — especially AI ones — tuning into Wired’s very own weekly podcast Uncanny Valley will certainly keep you in the loop. Hosted by the magazine’s Global Editorial Director Katie Drummond alongside reporters Lauren Goode and Michael Calore, the podcast delves into analyses of tech phenomena, unraveling their significant implications on our everyday lives.

Industry insiders and experts join as guests for most episodes, especially on Friday’s Wired Roundup episodes with prominent tech journalist Zoe Schiffer, director of business and industry at Wired, who shares her own insights during these conversations. Their episodes range from AI discussions to tech and politics crossovers and feuds between influential figures — and even the latest tidbits about Elon Musk.

The dark corners of Silicon Valley. In one of their most exciting episodes titled How to Not Die in Silicon Valley, the podcast’s hosts look deep into Silicon Valley’s obsession with immortality and the unnerving extents they go to to prolong their lives using technology. The episode spotlights Bryan Johnson, a prominent personality in the health and tech sector. It details the extreme lengths he has taken to bypass aging and promote health optimization, spending around USD 2 mn a year on efforts to “live forever,” with one of those efforts being blood plasma exchanges with his teenage son.

Johnson’s ludicrous health treatments link to an overarching, heavily funded pursuit of longevity and disease prevention in the industry with AI unsurprisingly spearheading that movement. The hosts mention experiments such as Google’s Verily, a life sciences and AI-driven organization for precision health, and Jeff Bezos’s investment in Altos Labs, a biotechnology company that focuses on anti-aging therapies. In that vein, the hosts also explore altruism versus ego as the driving forces behind these far-reaching goals, criticizing some of these figures for not being realistic and “playing God” as they attempt to delay the obvious.

This compelling deep-dive and so many others are what Uncanny Valley brings to their listeners. Blending latest tech efforts and larger philosophical and general implications, the hosts keep you engaged in every episode through their light banter and witty insights.

WHERE TO LISTEN- You can listen to Uncanny Valley on Wired | Apple Podcasts | Spotify | iHeart | Amazon Music.

THE ENTERPRISE ENTERTAINMENT CALENDAR

? AUGUST

15 August (Friday): Marwan Pablo and Lege-cy at U Arena.

15 August (Friday): Mohamed Fouad at Porto Golf Alamein.

15 August (Friday): Fouka Bay Beach Festival.

20- 22 August (Wednesday - Friday): Photopia Mobile Photography Workshop.

21 August (Thursday): Seattle the Band at CJC 610.

22 August (Friday): DJ Fideles at ESCA Beach Club.

22 August (Friday): Wegz at U Arena.

22 August (Friday): Bedouin at D-Bay.

23 August (Saturday): Tamer Hosny at The Address Beach Resort.

24 August (Sunday): Jadal at Bibliotheca Alexandrina.

29 August (Friday): Solomun at D-Bay.

29 August (Friday): Cairokee at U Arena.

30 August (Saturday): Nancy Ajram and Hamaki at The Address Beach Resort.

SEPTEMBER

1-7 (Monday - Sunday): Amira Selim singing masterclass at Khayal Arts and Music Academy.

4 September (Thursday): Al Mawlid Al Nabawi.

OCTOBER

6 October (Monday): Armed forces day.

7 October (Tuesday): Enterprise Egypt Forum 2025.

10 October (Friday): Anyma at The Great Pyramids.

15 October (Wednesday): Scorpions concert at New Capital.

16-24 October (Thursday-Friday): Gouna Film Festival.

30 October - 22 November (Thursday-Saturday): Forever is Now at the Great Pyramids of Giza.

DECEMBER

19 December (Friday): DJ Tiësto at the Giza Plateau.

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