Good morning, friends, and a very happy Friday to you all. It seems that winter is (finally knocking on our doors…
…but before you surrender to the coziness of couch sessions, remember that the season offers more than just an excuse to bundle up. This week’s guide helps you trade in lazy days for fun winter adventures that will keep you merry and warm.
Enterprise Weekend comes out each Friday at 9:00am CLT. We’ll be back on Sunday at 6am with EnterpriseAM. Until then: Enjoy the weekend.
🗞️ LAST WEEK IN 3 MINS-
ECONOMY-
#1- Inflation rose after four-month deceleration: Annual headline urban inflation rose by 0.8 percentage points in October to end the month at 12.5%, largely on the back of higher fuel and food and beverage prices, according to data from state statistics agency Capmas seen by EnterpriseAM. October’s reading marks the end of a four-month streak of easing price inflation.
#2- A mission from the International Monetary Fund (IMF) is expected to touch down in Cairo in the second half of the month to discuss — and hopefully greenlight — the combined fifth and sixth reviews of our USD 8 bn Extended Fund Facility program, an informed source told EnterpriseAM. The visit follows improvements in key economic indicators the fund had been looking for progress on.
TOURISM-
The grand opening momentum continued for the second week, peaking last Friday and Saturday when attendance surpassed the maximum capacity. The momentum carried over to the Giza Pyramids, which hit another record high last Friday with more than 35k tickets sold. Daily visitors to the museum currently average between 17k and 20k.
DON’T MISS our special series Unveiling the GEM, where we tell the story of the museum from its earliest conception to its grand realization.
Missed the previous issues of the series? Catch up here: ( TThe backstory | Opening Night, One week later)
REAL ESTATE-
Azimut Investments is gearing up to launch Halan-Azimut, the country’s first digital real estate investment fund, after securing approval from the Financial Regulatory Authority (FRA) to establish Egypt’s first licensed digital platform for trading real estate fund units, according to a Cabinet statement. This marks a key step in bringing fractional property ownership to local investors through regulated digital certificates.
INVESTMENT WATCH-
#1- Kuwait is in discussions with the government to soon put into action a plannedUSD 3 bn investment package. Negotiations between both parties are ongoing, with the two sides expected to reach an agreement on the first tranche of the planned investment before the end of 2025 or in 1Q 2026.
#2- We have a mega Qatari project coming our way. The Qatar Investment Authority-owned Qatari Diar inked an agreement with the Madbouly government on Thursday to set up a USD 29.7 bn integrated urban development along the Mediterranean in Alam El Roum, according to a cabinet statement. The project is described as a “world-class integrated urban development … transforming Alam El Roum into a coastal tourist and investment destination.”
#3- The country’s efforts to boost its offshoring industry are bearing fruit, with 39 global digital services companies planning to use Egypt as their main base of operations.
#4- Destiny Energy to investUSD 210 mn in developing green ammonia and hydrogen facilities in the SCZone: Singaporean renewables developer and investor Destiny Energy plans to develop a USD 210 mn green ammonia production facility in the Suez Canal Economic Zone (SCZone), according to a statement by the General Authority for Investment and Free Zones (GAFI).
DEBT WATCH-
The Finance Ministry is set to issue the second EGP 3 bn tranche of Egypt’s first-ever local sukuk next Monday, a senior government official with knowledge of the matter told EnterpriseAM. The issuance settlement is scheduled for the following day.
CAPITAL MARKETS-
Qalaa makes good on its investor promises with IPO, funding, and asset-sale push: Qalaa Holdings is moving ahead with the growth and deleveraging strategy it outlined in its 1Q results, with the board approving plans to pursue five potential EGX listings, issue up to USD 200 mn in convertible bonds, and sell stakes in three subsidiaries, according to a bourse disclosure.
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🌍 AROUND THE WORLD IN SEVEN DAYS-

The US House of Representatives voted 222-209 to end the longest federal government shutdown in US history at 43 days. The funding bill was then sent off to US President Donald Trump, who promptly signed the agreement, bringing to an end a national crisis that left over 1.4 mn federal employees unpaid, food aid suspended, and thousands of flights cancelled. The reopening was met with muted market reactions. (Reuters | Financial Times | BBC | CNN | Wall Street Journal)
With the shutdown over, the Epstein files were back under the spotlight. House Democrats released three emails on Wednesday further tying Trump and deceased convicted [redacted] offender Jeffery Epstein. The documents detail correspondence between Epstein, Ghislaine Maxwell, and US journalist Michael Wolff. In one email, Epstein wrote to Wolff that the US president indeed “knew about the girls.” (CNN | BBC | Reuters | Guardian | New York Times)
IN THE BUSINESS PRESS- Tesla shareholders approved CEO Elon Musk’s USD 1 tn pay package — the largest ever for a CEO and a figure larger than the size of most economies. This sets Musk up to become the world’s first t’naire, and to expand his stake in the EV maker to 25% or more over the next 10 years. (Bloomberg | Financial Times | Reuters | Wall Street Journal | New York Times)
OVER IN THE WHITE HOUSE- Ahmed Al Sharaa became the first Syrian President ever to visit Washington, DC, after he met with US President Trump yesterday at the White House. The landmark talks saw Trump vow to help Syria’s economy after years of war and international isolation, while the Treasury department extended its waiver of the so-called Caesar sanctions by 180 days. A full removal of sanctions on Syria would need to be passed in the Congress. (Reuters | Semafor)
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☀️ THE WEATHER THIS WEEKEND-
We’re in for quite the tumultuous weekend as far as the weather is concerned, with temperatures on Friday reaching a high of just 25°C and a low of 18°C with heavy rain expected. On Saturday, we’ll be in for a cloudy day with a high of 25°C and a low of 17°C, according to our favorite weather app.
🎤 HAPPENING THIS WEEKEND-
The Fustat Winter Festival kicks off with a concert conducted by the great composer Omar Khairat tonight at 8 PM. The festival will be held at the Fustat Hills Park after its renovation and comes as an extension of the celebrations for the opening of the Grand Egyptian Museum. The festival features concerts with artists such as Amal Maher, Tamer Ashour, Ahmed Saad, Marwan Moussa, and others, and will continue until Friday, 5 December. Tickets are available on Tazkarti.
Catch Sokseeh’s fresh production of El Kadeya Eli Heya at El Rihany Theater happening tonight, and tomorrow night. The play brings a fun twist on satirical comedy with frogs and roosters — grab your tickets now on Ticketsmarché.
The Winter Music Festival returns to Madinaty’s Open Air Mall tonight. This year’s festival brings you performances from superstars Hisham Abbas, Hamid El Shaeri, Mohamed Fouad, and Ehab Tawfik. Embrace the cozy winter vibes as you sing along to their nostalgic hits — you can get your tickets on Ticketsmarché.
Shake off the week’s stress with some laughter at Ali Quandil’s interactive comedy show tonight at Theatro Arkan. Expect unscripted jokes and funny surprises — you can head to Ticketsmarché for tickets.
Carerha Summit returns to empower women tomorrow, taking place at Sheikh Zayed’s Majarrah. Under the theme Herizon, this year’s summit celebrates women’s professional journeys through an exciting lineup of panels, workshops, and mentorship and career-coaching sessions. Secure your spot through Ticketsmarché.
This is for lovers of classic music: Amr Selim is coming to Theatro Arkan for an evening of his most magical compositions tomorrow night. Don’t miss out on the chance to experience the maestro’s brilliance live. Tickets are available on Ticketsmarché.
🎤 HAPPENING NEXT WEEKEND-
Cairo Design Week returns from Friday, 21 November to Saturday, 29 November for a one-of-a-kind experience with Egypt’s design landscape. Be prepared for an array of events and exhibitions across Heliopolis, Zamalek, and Downtown. You can secure all week access or district passes through Ticketsmarché.
Ramy Sabry is coming to El Arena on Friday, 21 November. You can catch the iconic singer live and sing along to his romantic tunes by grabbing tickets on Tazkarti.
Bond with your teen at the biggest high school summit. Traverse returns on Friday, 21 November and Saturday, 22 November at Hydeout in Hyde Park. Join thousands of students, parents, and educators for a weekend of fun career-oriented activities. You can book a spot for you and your budding executive at Ticketsmarché.



