Good morning, friends, and happy Friday. We hope you're all looking forward to a relaxing weekend as much as we are.
And up next: two long weekends. Prime Minister Mostafa Madbouly announced 26 June as holiday in observance of the Islamic new year. Thursday, 3 July, will also be off instead of Monday, 30 June — which marks the 12th anniversary of the 30 June Revolution Day.
With two long weekends coming up, now might be the perfect time to put down your phone and reconnect with your reading habits. In this week’s guide, we’ve rounded up the ideal books to take with you to the beach — whether you’re in the mood for breezy summer flings, travel dramas, or quick, satisfying reads between dips in the sea.

Sahel – what was once Egypt's summer escape has become an economic hub, social ecosystem, and regional travel hotspot. And we’re going to help you decode its rapid evolution with EnterpriseAM Destination Sahel.
In a special four-part summer series we’re taking the insights you’ve come to expect of us seaside. Think everything from Ras El Hekma's impact and investment opportunities to exclusive interviews with key players. And it wouldn’t be Sahel season without a sprinkling of what’s shaking up socially.
Expect us in your inbox Tuesday, 24 June.
See you, Sahel-side.
LAST WEEK IN 3 MINS-
ECONOMY-
Regional turmoil may cause the recently-greenlit state budget to undergo amendments — whether in terms of revenues, expenditures, or the projected deficit — as the escalations between Israel and Iran continue and the prospect of US intervention looms, a senior government source told EnterpriseAM. If this is the case, these amendments are expected to come in 2H 2025, or if necessary, before the end of the current parliamentary session in October, the source said. The government could roll out tougher austerity measures if the regional war takes a turn for the worse, Prime Minister Moustafa Madbouly said during his weekly presser.
We spoke to a handful of pundits to explore the war’s potential economic consequences for Egypt in an in-depth story. You can check it out here.
INVESTMENT WATCH-
#1- Qatar is in advanced discussions to develop a USD 3.5 bn tourism project on the North Coast, Bloomberg reports, citing what it says are sources familiar with the matter. The new project’s agreement is expected to be inked by the end of 2025, although its breakdown and exact location are yet to be revealed.
The timeline: The agreement is expected to witness Qatar providing Egypt with USD 1 bn after its signature, with the remaining amount to be delivered over the following year.
#2- Another Chinese factory has joined the list of solar component manufacturers working to set up shop in Egypt, with Sunrev Solar inking a contract with the China-Egypt TEDA trade zone to build a USD 200 mn integrated industrial complex for solar energy components. The project is expected to create over 1.8k direct jobs and generate up to USD 300 mn in annual exports, targeting regional and global markets.
CAPITAL MARKETS-
The EGX30 ended the week in the red, slipping 1.9% at yesterday’s close to 30.2k points amid investor jitters triggered by the Iran-Israel war and escalating regional tensions. The benchmark index wavered throughout the week after falling as much as 7.5% during the first few minutes of trading on Sunday and ending the day down 4.6%. Year-to-date, the index is up 1.7%.
DIPLOMACY-
The US is considering adding Egypt to its travel ban alongside 35 other nations that could join the 19 countries designated for full or partial travel bans earlier this month. The targeted countries will have a 60-day deadline to meet certain demands, or have their nationals be subject to a partial or full travel ban, in addition to a Wednesday deadline to submit an action plan to meet them.
WHAT’S HAPPENING NEXT WEEK-

Valu to start trading on the EGX during: U Consumer Finance — which owns and operates the Valu brand will start trading on the EGX on Monday, 23 June at a reference price of EGP 0.777, according to a disclosure. In its first session, the company's stock will be allowed to trade within price limits ranging from the nominal value of EGP 0.10 as a minimum and the fair value of EGP 7.4 as a maximum without the application of temporary trading halt mechanisms.
AROUND THE WORLD IN SEVEN DAYS-

The international press is zeroing in sharply on our part of the world as Israel’s war with Iran enters its seventh day.
Concern is rising that the US is preparing to join the war. Adding to the speculation, US President Donald Trump said yesterday he will decide whether the US will strike Iran “within two weeks,” as he waits to see how potential negotiations with Iran could go, despite US military assets already making their way to the region.
Iranian Supreme Leader Ayatollah Ali Khamenei delivered a stern response, warning the hawkish US president that US’ involvement in the conflict would “undoubtedly be accompanied by irreparable damage.”
While the world’s attention turned to Iran, Israel’s starvation of Gaza and daily massacres continued, with Israeli tanks firing into crowds of people waiting for desperately needed food aid. “The people are dying, they are being torn apart to get food for their children,” one eyewitness told Reuters. The killing of those seeking aid in what the UN describes as the “the hungriest place on Earth” has become a depressingly familiar story, with the entire population of Gaza being at risk of famine.
IN BUSINESS NEWS- The US Federal Reserve held interest rates steady for the fourth consecutive meeting despite increasing pressure from the Trump administration to change course. Chair Jerome Powell doubled down on the reserve’s position that they will wait to assess the full impact of the tariffs on US imports before “considering any adjustments to our policy stance.” Despite the decision to hold, the Fed still sees two interest rates to come before the end of year.
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☀️ THE WEATHER THIS WEEKEND-
The capital will be seeing its hottest day of the week today, with the mercury set to peak at 38°C before cooling to 24°C at night. Tomorrow will be a little cooler, with a high of 36°C and a low of 22°C.
The North Coast will be experiencing cooler weather, with this weekend’s temperatures expected to reach just 30°C during the day and 20-21°C at night, according to our favorite weather app
HAPPENING THIS WEEKEND-
Brazilian-Lebanese DJ Rodge is about to shake things up at CJC 610. The seasoned DJ knows how to get a crowd up and jumping, and his set tonight at the nightlife hotspot west of Cairo promises to be no different. Rodge will be dishing out global anthems, feel-good hits, and everything in between. Joining him on the decks will be Zabadi Khalat with their signature sonic shake-up. You can grab your tickets from CJC 610’s website — and we suggest doing so fast.
From Tomorrowland to New Alamein. Italy-hailing and Berlin-based artist, DJ, and composer Malandra Jr. wants you to be part of his symphony tonight at Cassette, New Alamein. The Ibiza resident is known for keeping his crowd on their toes with his unexpected sonic mashups that only a certified composer like him can whip up. Tickets can be purchased through Crcl’s — the event organizer — Instagram.
Need a dash of folklore in your life? Reconnect with your Egyptian roots at El Sawy Culturewheel tonight, as the all-Egyptian, all-women band Tablet el Sitt take the stage. On a mission to spread joy and preserve Egyptian folk music, the band will be performing from 8pm to 10:30pm. Tickets are available on El Sawy Culturewheel’s official website.
12 hours of Egyptian culture? Sign us up. Qahrawya will be whisking curious wanderlusters off to Al Haraneyah and Dahshour tomorrow, Saturday, 21 June, where they will get a full day experience through the Ramsis Wissa Wassef Center, the Adam Hanin Museum, and the Glass Museum. The itinerary will also include interactive workshops and a traditional Egyptian lunch. You can purchase tickets for Qahrawya’s Wrapped in Silk tour through EasyKash.
Care for an intimate musical experience this weekend? On Saturday, 21 June, Egyptian artist Hany Must will be hosting his “Storyteller Sessions” at Garden City’s Room Art Space. Expect raw vocals, smooth acoustics, and hauntingly-beautiful lyrics. Tickets are available on EasyKash.
No tickets needed, this concert is on the house. Viral Egyptian singer and rapper LellaFadda is throwing a pro-bono concert this Saturday at The Greek Campus in Downtown Cairo. You can secure your spot through Laylo.
HAPPENING NEXT WEEKEND-
The ‘90s are calling, and on Friday, 27 June, we’re picking up. Egyptian band Cassette ‘90s will be performing live at Zamalek’s El-Sawy Culturewheel, and you best believe they’ll be doubling down on nostalgia. This motley crew of ‘90s aficionados knows how to keep an audience on their feet, so if a trip a few decades back sounds like a fun time, secure your spot through El-Sawy Culturewheel’s website.
Lose yourself in the last of Beethoven’s symphonies at the Cairo Opera House. On Saturday, 28 June, Beethoven’s Symphony No. 9 will reverberate throughout the Main Hall as Maestro Ahmed El Saedi guides his orchestra through the most influential of symphonic works. Tickets can be purchased through Tazkarti.
The Cairokee Empire rises once more, this time at the Cairo International Stadium. On Saturday, 28 June, the band promises over a decade’s worth of iconic music at the largest venue in Africa. You can grab your tickets through Tazkarti.


