☀️ Good morning, friends, and congratulations on making it to the weekend. It’s been a busy week on the news front, and today’s issue is all about taking it easy, slow, and, most importantly, having fun. We recommend a consciously ridiculous fantasy movie for your next theatrical excursion, pick up Palestinian-American writer Hala Alyan’s memoir, tune in to a podcast all about food, and dig into some Cheesecake Factory slices.
In today’s edition of The Enterprise Guide, we’re listing all the creative and craft workshops in C-town worth your time — whether you’re looking to hone your craft or simply ground yourself with some handiwork. All that and more.
But before we dive in, your weekly recap…
🗞️ LAST WEEK IN 3 MINS-
ECONOMY-
Annual urban inflation cooled for a second consecutive month in May, easing 0.3 percentage points to 14.6% y-o-y, broadly in line with market expectations. However, monthly inflation accelerated to 1.6% m-o-m from 1.1% in April, reflecting lingering price pressures. The reading is close to HC Securities’ forecast of 14.7% and Reuters’ median estimate of 14.5%. The latest reading is tracking comfortably below the CBE’s revised forecast of 16-17% average inflation for 2026, though it remains well above its official target range of 7% (±2%) for 4Q 2026.
PLUS- No talks are underway for a new IMF program to follow the current USD 8 bn Extended Fund Facility after it expires in December. Even after the program ends, the Fund will continue conducting periodic economic reviews and providing technical and advisory support.
ALSO- Regional wars and economic shocks have forced the government to temper its medium-term economic targets, lowering its growth target to 6.8% by FY 2029/30, down from a previously targeted 7.5%.
EGX-
The EGX is rolling out single-stock futures contracts on two of its most liquid names next Thursday — the Commercial International Bank (CIB) and Talaat Mostafa Group (TMG). Contracts will come in three- and six-month maturities, with a standard size of 100 shares.
AND- Korra Energi made its EGX debut: Shares of Korra Energi closed up 19.5% at EGP 3.55 on its first day of trading yesterday. Some 269.7 mn shares changed hands, generating EGP 977.9 mn in turnover. The energy solutions firm floated an 11% stake valued at EGP 735 mn in what marked the EGX’s second IPO of the year — following Gourmet’s blockbuster February debut — and the first since the Iran war broke out.
EDUCATION-
The National Bank of Egypt (NBE) invested EGP 250 mn in a new education platform targeting 100 schools across Egypt’s governorates. The state-owned lender acquired a 20% stake in the Egyptian Alliance for Education — an initiative bringing together CIRA Education, NBE, and 10 other companies — raising the platform’s total capital to EGP 1.25 bn. The alliance, founded by CIRA Chairman Hassan El Kalla, seeks to establish more than 100 new schools across the 27 governorates.
ENERGY-
The government fully cleared its outstanding arrears to international oil companies — totaling USD 6.1 bn accrued since June 2024. Settling the debts has already unlocked a USD 19 bn investment pledge from global energy majors, which sets the state up to hit its USD 6.2 bn sector FDI target next fiscal year.
AND- Egypt’s energy sector is moving across the Mediterranean and beyond, pushing technical agreements for the pipeline transporting Cypriot gas to our LNG hubs, accelerating offshore exploration at home, and exporting drilling expertise to Turkey.
NBFI-
Thndr is repositioning from a stock-trading app to an integrated wealth management platform, layering digital gold, fractional real estate, no-commission investment funds, AI-powered planning tools, and a redesigned app onto its existing trading infrastructure.
BANKING-
Banque du Caire’s IPO is delayed again, with investor roadshows pushed to September or October and a new target to float by year-end, missing its original end-of-June deadline.
REAL ESTATE-
The country’s 10 largest real estate developers saw sales volumes drop 15% y-o-y in 1Q 2026 to c.15.5k units. Total sales value declined 6.5% y-o-y to EGP 271 bn, down from EGP 290 bn a year earlier.
🌍 AROUND THE WORLD IN SEVEN DAYS-

US-Iran tensions intensified this week amid a mixed news cycle. Here’s the rundown: The US-Iran ceasefire faced yet another disruption last weekend following escalations between US and Iranian forces in the region. US forces intercepted Iranian attack drones heading toward the Strait of Hormuz and targeted Iranian surveillance radars. Iran retaliated by launching ballistic missiles toward military infrastructure in Kuwait and Bahrain. As tensions extended into Sunday, the peace agreement stood still in the face of a potential US seizure of USD 24 bn in Iranian assets.
On Monday, Iran made its first strike on Israel since April in retaliation for Tel Aviv’s strikes on Lebanon, claiming the attacks violated ceasefire terms, and vowed to continue strikes if hostilities resume. Israel fired back by targeting western and central Iran. After a cooldown early Tuesday with a reported re-engagement in diplomatic efforts, Israel continued operations against Iranian-backed Hezbollah, launching fresh strikes on Lebanon’s Tyre and issuing evacuation orders.
On Wednesday, Iran retaliated with strikes on American bases in Jordan, Bahrain, and Kuwait after the US launched its own retaliatory airstrikes against Iran in response to the downing of an Apache helicopter. The US military said it hit 20 Iranian targets around the Strait of Hormuz, threatening to continue attacks if Tehran doesn’t sign the peace agreement. US President Donald Trump said an agreement with Iran could be reached within “two or three days” but added that Iran would “pay the price” for dragging out negotiations.
On Thursday, Iran’s new strait authority announced that the Strait of Hormuz “will be closed until further notice,” citing the US attacks. The announcement came shortly after an Iranian official accused the US of attacking a cargo ship in the Gulf of Oman earlier in the day.
IN OTHER NEWS- SpaceX’s upcoming IPO made headlines, becoming heavily oversubscribed as institutional investors place over USD 250 bn worth of orders, with investors lining up to get a piece of what is expected to be the largest-ever IPO. However, the company may not list on the S&P 500 until 2027 as S&P Dow Jones Indices will reportedly maintain a rule that bars unprofitable companies from joining the index.
OpenAI also confidentially filed for an IPO with the Securities and Exchange Commission. The company has yet to decide on a timetable for the listing, but sources claim the company could go public as soon as this fall.
IN TECH NEWS- Apple unveiled a new phase for its voice assistant Siri, overhauling the program with AI, steering it closer to chatbots like OpenAI’s ChatGPT or Anthropic’s Claude. The tech giant says its commitment to privacy and data protection is key in differentiating its AI offerings from its rivals. A beta version will be available next month before a full launch in the fall.
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☀️ THE WEATHER THIS WEEKEND-
We’re in for a relatively cooler weekend in Cairo — compared to the last few days, at least — with the mercury set to peak at 35°C today, with a low of 22°C, while tomorrow will see a high of 34°C and a low of 24°C. The North Coast is in for some cool weather, with highs of 28-29°C and lows of 20-21°C over the weekend, according to our favorite weather app.
🎤 HAPPENING THIS WEEKEND-
Anoushka is making a long-awaited return to the stage tonight at AUC Tahrir Square’s Ewart Memorial Hall. The singer-actress is putting on a show of nostalgic melodies backed by The Syncope Orchestra, led by George Kolta. The performance comes as part of AUC Tahrir’s initiative to revive historic and Downtown Cairo through music. Doors open at 7:30pm, dress code is smart casual, and tickets are available through Ticketsmarché.
Looking to get into real estate? Egypt’s first-ever real estate sales training experience, One [Mn] In Your Pocket, lands at New Cairo’s Tolip El Narges, taking place every Saturday from Saturday, 13 June to Saturday, 27 June between 12-5pm. The program features workshops on improv acting, sales psychology, and real estate fundamentals, with hiring openings available on the last day. Tickets are available via Tazkarti.
🎤 HAPPENING NEXT WEEK-
Lebanese singer, composer, and pianist Ghassan Yammine is landing in Cairo, set to perform at AUC Tahrir Square’s Ewart Hall on Tuesday, 16 June for a Nostalgia Soiree. Yammine will be accompanied by the Armonia Mundi Orchestra. The evening kicks off at 9pm — you can get your tickets via Tazkarti.
Human behavioral expert Dr. Khaled Ghattass returns to Cairo with his special show, Between the Strange and the Prevailing, on Thursday, 18 June, at Al Manara Main Hall. The renowned author and speaker brings an intimate live discussion on love and life, human behavior, relationships, and more. Doors open at 7pm, and the talk begins at 8:30pm. You can get your tickets on Ticketsmarché.


