☀️ Good morning, ladies and gentlemen, and happy weekend. This month’s Long View looks at what it costs to take a public stance on Palestine in the entertainment industry, using Macklemore’s removal from Ed Sheeran’s tour as the starting point.
Elsewhere: We also have A Few Good Men for your Friday night — still one of Hollywood’s sharpest courtroom dramas three decades on — along with a new breakfast spot in New Cairo that found us before we found it, and a podcast about the design decisions behind everything we take for granted.
But first, your weekly recap…
🗞️ LAST WEEK IN 3 MINS-
CAPITAL MARKETS-
Banque du Caire is going public. The state-owned lender announced this week it plans to float 30% of its shares on the EGX. Parent Banque Misr will sell 4.575 bn existing shares in a fully secondary offering and pocket all proceeds. The notice expects subscriptions to close toward late October and trading to start in November, subject to the Financial Regulatory Authority approval of its public subscription notice, plus EGX sign-off.
AND- Foreign institutional investors have flocked to MNT-Halan’s IPO on the Egyptian Exchange. The fintech wrapped up subscriptions yesterday with the biggest order book the EGX has seen in years, a sign that investor appetite for the right stock is very much alive. Retail and institutional investors placed combined orders for 16x more stock than was on offer, with total demand coming in at EGP 125.9 bn (c. USD 2.4 bn) for an EGP 7.84 bn offering, by our math based on preliminary data from brokerage Thndr’s app. That’s triple what this year’s other two IPOs, Gourmet and Korra Energi, drew combined, according to our calculations.
ALSO- The EGX30 etched out a modest gain in 3Q, closing the quarter up 2.79% at roughly 51.9k points, against an 11.4% rally in 2Q. September slowed the overall gain, with the index shedding 5.4% over the month, dragged down by building materials stocks.
ECONOMY-
Annual urban inflation eased for a second straight month to 13.9% in September, down from 14.5% in August and its lowest level since February. Monthly prices rose 1.3%, the fastest pace since May, after falling 0.4% in June and barely moving in July and August. However, the annual relief was driven largely by a favorable base effect: prices had jumped 1.8% m-o-m in September 2025, so this year’s smaller rise was enough to pull the annual rate down.
AND- S&P Global Ratings affirmed Egypt’s sovereign credit at B/B and Fitch Ratings set it at B, both with a stable outlook. Both agencies credited the flexible exchange rate, record reserves, and multilateral support for their assessments. S&P noted foreign portfolio outflows reached USD 9.5 bn and the EGP depreciated up to 15% before stabilizing; Fitch said outflows exceeded USD 6 bn and the currency lost over 14% before recovering.
NBFIs-
Non-bank lenders Aman Holding, Bokra, and Erada Finance signed on to pilot venture debt (VD) for Egyptian scaleups under the Scale It Forward program, with 30 scaleups set to be selected this month. Co-developed by German development agency GIZ and enpact, the program gives each selected scaleup EUR 5k in non-repayable de-risking support to make lenders comfortable taking the risk.
DIPLOMACY-
Egypt and South Korea upgraded their relationship to a strategic partnership, with President Abdel Fattah El Sisi and his South Korean counterpart Lee Jae Myung launching negotiations for a Comprehensive Economic Partnership Agreement (CEPA) and signing 12 cooperation documents. The agreement is meant to cover trade in goods and services, economic cooperation, and supply chain resilience.
REAL ESTATE-
Hassan Allam Holding is the latest Egyptian developer to cross the Gulf into Oman. The group’s real estate arm Grova Developments signed two agreements yesterday with state-owned Oman Tourism Development Company (Omran Group) to launch the first residential phase at Madinat Al Irfan in Muscat. The agreements cover a USD 75 mn residential neighbourhood and a USD 40 mn branded residences project, roughly USD 115 mn combined.
AND- Hyde Park Real Estate Development bought 415 feddans in the eastern expansions of 6th of October City (the historic Dream Land site) from the Egyptian Company for Real Estate Asset Management and Investment (Ecrami). The sale covers about half of Ecrami’s 818-feddan Dream Land portfolio. The price was not disclosed.

Will AI eventually replace lawyers? In the third installment of our mini-series on AI, Lamyaa Gadelhak, Cairo-based partner at Baker McKenzie and chair of its Global Project Finance Group, refutes that claim.
Listen to the episode on: Apple Podcasts | Spotify | Anghami | YouTube
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🌍 AROUND THE WORLD IN SEVEN DAYS-

This week’s headlines were dominated by a Russia-Ukraine energy ceasefire that may or may not exist, a fresh Iran blockade action, and the IMF warning that the global economy could soon “test the limits of resilience.” Here’s the rundown.
US President Donald Trump announced an immediate Russia-Ukraine “energy ceasefire”, saying both sides had agreed to halt strikes on energy infrastructure. Ukrainian President Zelenskyy said he was still waiting for the specifics. Moscow did not confirm. The announcement followed days of US pressure on Kyiv to stop attacking Russian oil refineries and came alongside a separate Putin-Trump agreement releasing 500k tons of Russian diesel into international markets — partially lifting Moscow’s export ban.
On the Iran front, US Central Command disabled a Panama-flagged cargo ship in the Gulf of Oman for allegedly attempting to run the naval blockade — the first such action in more than a month — after the vessel departed an Iranian port and ignored warnings. Two Singapore-registered container vessels were subsequently struck by unknown projectiles while crossing the strait — one caught fire and sank, the other sustained hull damage. No injuries were reported.
The IMF raised its 2026 global growth forecast to 3.1% from 3% but warned that the world economy “could soon test the limits of resilience” as oil stocks run dangerously low, AI investment distorts capital allocation, and government debt accumulates across major economies. The Fund projects global inflation at 4.7% this year, assumes oil averages USD 96/bbl, and sees no return to the 2025 growth pace of 3.5% until 2027 — and only if Hormuz reopens and AI demand cools.
IN THE BUSINESS PRESS- Amazon is negotiating a USD 7 bn acquisition of Decart AI, whose software simplifies switching between AI chips — the latest big-ticket AI infrastructure transaction of the year. Nvidia is in early-stage talks to acquire or take a bigger stake in open-weight AI startup Reflection AI, possibly through an acqui-hire that would bypass regulatory hurdles — it has already invested USD 800 mn in the firm. AND- US authorities arrested a Saudi OpenAI employee for allegedly planting a recording device inside the company’s San Francisco headquarters — hidden behind a TV in an executive meeting room. OpenAI said it found no evidence that customer data, source code, or model weights were compromised.
ALSO- The US Treasury fined Bank of America more than USD 1 bn for violating anti-money laundering and sanctions laws, including failing to report over USD 5 bn in suspicious transactions linked to Chinese money laundering networks and trade-based laundering.
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☀️ THE WEATHER THIS WEEKEND-
Bring out the sweaters, folks, it’s time. We’re in for a cool and breezy weekend, with temperatures peaking today at just 28°C, before dropping to an overnight low of 20°C. Tomorrow offers more of the same, with a high of 28°C and a low of 20°C, according to our favorite weather app.
🎤 HAPPENING THIS WEEKEND-
Caught between “Narein”? Tul8te knows a thing or two about that. Tonight, the beloved masked Egyptian singer — hailed as this generation’s Amr Diab — will be taking the stage at Al Manara Arena to perform his biggest hits and late-summer releases. If you haven’t had the chance to see him live yet, consider this a sign. Tickets are available on TicketsMarché.
Legendary composer and pianist Omar Khairat will take the stage at the second edition of the Fustat Festival in Masr El Qadima tonight, accompanied by Maestro Nayer Nagui. Expect an evening of sweeping orchestral arrangements and beloved compositions. The concert starts at 10pm, and tickets are selling fast — get yours on TicketsMarche.
Due for some family quality time? The Grand Egyptian Museum is back with another GEM Family Weekend celebrating Egypt’s living heritage today and tomorrow. This edition brings a packed weekend of fun, from ancient Egyptian-inspired pottery, jewelry, and crafts workshops to El Aragoz hand puppetry shows, a special interactive play, sing-alongs, baladi bread baking, a spread of Egyptian street food, and much more. The event runs from 11am to 8pm — you can get tickets for you and your family through TicketsMarché.
The real coffee enthusiasts among us know that coffee isn’t just a morning caffeine fix; it’s a complete experience. The Egypt Coffee Festival is bringing that experience to life again this year at Kamelizer in District 5, returning for a two-day run today and tomorrow. This year’s theme, Common Grounds, serves up the endless ways coffee can bring us together, from the maker-dedicated Roaster Village to workshops, talks, tasting experiences, and a design competition in collaboration with SYNC. The experience starts at 9am and ends at 8pm — you can grab your tickets on TicketsMarché.
Renowned pianist Amr Selim is taking the stage at New Cairo’s Teatro 90 tomorrow. If you’re looking to unwind during the weekend, Selim’s melodies and stage presence promise a relaxing evening of music. Catch the concert at 8pm, with tickets available on TicketsMarché.
Looking to nurture your child’s talents? Steps Summit is taking over SODIC Eastown’s Sports Club tomorrow for a full day of family-focused activities designed to support children’s learning, development, and future potential. The summit brings together different youth development programs from Central Dance Studio and Theater & Movement to camp program Blooms. Expect workshops, exhibitions, panel talks, and plenty more activities. The day kicks off at 11:30am, with tickets available on TicketsMarché.
🎤 HAPPENING NEXT WEEKEND-
Sorry seems to be the hardest word, but come next weekend, 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.


