☀️ Good morning, friends, and happy long weekend. It’s been a short-yet-packed week, and we’re grateful for the extra day of rest. After a cool and breezy few days, it seems temperatures will be on the rise again this weekend — so grab your sunscreen and get going.
If you haven’t watched The Devil Wears Prada yet, what are you waiting for? In today’s issue, we sing the praises of the highly anticipated sequel, tune into a business podcast that goes above and beyond, pick up our controllers to play The Last of Us Part II, and continue our Zamalek café crawl (and crown a victor).
With schools out relatively soon, it’s time to start planning your kiddos’ summer months. In this week’s edition of The Enterprise Guide, we’re taking a look at the summer camps that will educate, entertain, and keep your kids busy (and you, rested).
🗞️ LAST WEEK IN 3 MINS-
CAPITAL MARKETS-
The EGX has erased its March war shock. The benchmark surged 14.2% in April to 51.8k points, with local investors crowding into education, travel, and real estate names. Market cap jumped EGP 433 bn — or 13.4% — to EGP 3.67 tn, recovering March’s 7.9% drawdown with room to spare.
TELECOM-
The National Telecom Regulatory Authority greenlitaprice hike for telecom services, with select package rates set to climb between 9-15% — tax included. While your monthly subscription might see a bump, the cost of a standard voice minute (landline and mobile), prepaid recharge cards, and e-wallet transaction fees will remain unchanged.
ECONOMY-
#1- Egypt’s annual urban inflation rate eased to 14.9% in April, down from 15.2% in March, according to Capmas. The March spike was largely driven by the US-Israeli war with Iran, surging energy prices, and a weakening EGP.
#2- The Finance Ministry is set to deploy EGP 3.4 tn in new sovereign debt in FY 2026/27 — an EGP 241 bn increase — to cover an expected EGP 4 tn financing gap, after hopes of shrinking our financing gap to EGP 2.7 tn fell through due to regional volatility.
BANKING-
Moves by state-owned banks to absorb excess EGP liquidity in the market have prompted some private-sector actors to follow suit — CIB brought new savings certificates to market, including products with a variable monthly return reaching 19.5% annually.
INVESTMENT WATCH-
Egypt’s aquaculture sector is casting the net toward the Mediterranean and European markets, courting investment pitches from Greece and Algeria for farmed fish imports.
AUTOMOTIVE-
#1- The automotive industry is set to receive bumps ranging from 2.5-5.5%. The decision — which includes bus and component manufacturing — is expected to unlock significant production capacity and drive a surge in fresh foreign investment interest.
#2- Sales in Egypt’s automotive industry saw a steady increase in March, with the total market growing 3.2% m-o-m to 17.8k units. Growth was driven by consumers rushing to buy cars ahead of anticipated price hikes amid regional tensions.
ENERGY-
Doha-based Green Sky Capital secured financing from a banking syndicate for its USD 200 mn sustainable aviation fuel facility in Ain Sokhna. The project — named SAFFly Egypt — is backed by Qatar’s Al Mana Holding and Saudi Vision Invest.
IPO WATCH-
Egypt Education Platform is the latest education player to join the IPO waiting room after filing a request to list on the EGX. The private-sector vehicle is looking to list some 199.4 mn shares on the main market.
Riyadh to Mumbai. Abu Dhabi to Singapore. Dubai to London. Cairo to Shenzhen.
The most important business stories in MENA aren’t happening inside MENA anymore — they’re happening at the edges, where regional capital meets global ambition.
EnterpriseAM MENA+ is our new flagship newsletter, built to cover the flows of capital, people, and ideas across the Middle East — and beyond it. AI, geopolitics, the war for talent, sovereign wealth strategy, the changing energy economy, and the new corridors reshaping global trade.
Tap or click here to get your own copy delivered to your inbox every Monday, Wednesday, and Friday at 12pm UAE | 11am KSA | 11am Egypt.
🌍 AROUND THE WORLD IN SEVEN DAYS-

US-Iran tensions dominated headlines once again this week. On Sunday, Tehran offered a 14-point response to the US to end the war. US President Donald Trump said he would review the new proposal, noting that he “can’t imagine [it] would be acceptable.” Trump also clarified that the option to resume military strikes remains on the table should Tehran “misbehave.” The US then approved more than USD 8.6 bn in military sales to the UAE, Qatar, and Israel. The agreement was aimed at fortifying its Middle East allies against future Iran strikes.
On Monday, US forces began guiding vessels stranded in the Gulf through the Strait of Hormuz. Calling it “Project Freedom,” Trump characterized the effort as a “humanitarian gesture” — with many of the ships running low on provisions. Following the news, Iran’s navy claimed it blocked US ships from entering the strait and threatened to attack any US forces breaking its blockade.
On Tuesday, Iran launched a wave of attacks across the UAE — its first since the ceasefire took place almost a month ago — most notably targeting the country’s Fujairah Oil Industry Zone. Meanwhile, the US said it sank several small Iranian boats and shot down missiles and drones launched from Iran as it pushed to open up the strait. As the war continues to disrupt oil supply in the Gulf, and since losing its key member (the UAE), Opec+ agreed to raise oil output by 188k bbl / d in June.
The US-Iran truce still holds, however, according to US Defense Secretary Pete Hegseth. On Wednesday, Trump announced a “short” pause on US efforts to escort ships out of the Strait of Hormuz. Meanwhile, Tehran is still reviewing Washington’s response to its latest peace proposal as Axios reports the two sides are closing in on a one-page, 14-point memorandum to end the war in the Gulf.
IN THE BUSINESS PRESS- Berkshire Hathaway’s first post-Buffett annual meeting on Sunday dominated the business pages. CEO Greg Abel pledged not to break up the conglomerate. He also promised to make significant investments in assets and highlighted that the firm is positioned to capitalize on the tech sector’s expansion through its ownership of the infrastructure essential for powering data centers.
ALSO- US retailer Gamestop CEO Ryan Cohen offered an unsolicited bid to acquire eBay for some USD 56 bn.
Get Enterprise daily
The roundup of news and trends that move your markets and shape corporate agendas delivered straight to your inbox.
☀️ THE WEATHER THIS WEEKEND-
It’s going to be a warm and sunny weekend with some much-welcome breeze. Today, we’re in for a high of 27°C and a low of 16°C. It’ll be more of the same tomorrow, with a high of 28°C and a low of 17°C. On Saturday, temperatures will be gradually rising, with the mercury set to peak at 29°C, according to our favorite weather app.
🎤 HAPPENING THIS WEEKEND-
Hamid El Shaeri brings his hits to Sheikh Zayed’s The Village tonight, alongside a special performance from Badra. The night kicks off at 10pm — you can get your tickets on Ticketsmarché.
Marketing crowd, gather ‘round — The Marketers League returns to the Grand Egyptian Museum on Saturday, 9 May, bringing together the biggest names in marketing from Egypt and the Middle East. With over 30 speakers, the conference offers the chance to share insights, explore trends, and connect with top experts. The event runs from 10am to 8pm — you can book your tickets on Tazkarti.
Looking to shop local? You’re in luck. Cairo Flea Market’s Summer Edition returns this Saturday, 9 May at Ghurnata Community Space in Heliopolis, bringing you vintage finds, locally crafted goods, and live music all in one place. The day starts at 10am and runs into the night until 10pm. Get your tickets on arrival.



