{"id":666387,"date":"2025-06-03T00:00:00","date_gmt":"2025-06-03T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2025\/06\/03\/could-egypt-soon-be-home-to-an-official-apple-store\/"},"modified":"2025-06-03T00:00:00","modified_gmt":"2025-06-03T00:00:00","slug":"could-egypt-soon-be-home-to-an-official-apple-store","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2025\/06\/03\/could-egypt-soon-be-home-to-an-official-apple-store\/","title":{"rendered":"Could Egypt soon be home to an official Apple store?"},"content":{"rendered":"

Good morning, all<\/strong>. <\/strong>In today\u2019s issue of EnterpriseAM Egypt, we\u2019ve got insights from leading HSBC economists, a USD 500 mn project to localize the production of baby formula, a deep-dive into how the EGX30 fared in May, and more.<\/p>\n

PSA- <\/p>\n

<\/a> #1-<\/strong> Bank<\/strong>s <\/strong>wi<\/strong>ll b<\/strong>e off from Thursday, 5 June through Monday, 9 June in observance of<\/strong> Eid Al Adha<\/strong>, according to a statement<\/a> from the Central Bank of Egypt. Private and public sector workers are also getting the same five-day break<\/a>.<\/p>\n

EnterpriseAM Egypt will also be taking a break from your inboxes for the Eid break<\/strong>, but we\u2019ll be back bright and early on Tuesday with all the most important updates to keep you up to speed.<\/p>\n

#2- The Housing Ministry has extended the deadline to apply for mid-income housing <\/strong>units under the Housing for All Egyptians 7 initiative to 18 June<\/strong>, Minister Sherif El Sherbiny said in a statement<\/a> yesterday. The extension comes amid strong demand and citizen requests to keep the window open longer. You can head over to the Official Egyptian Real Estate Platform<\/a> for information about available units, eligibility requirements, and required procedures.<\/p>\n

\n

\n

WEATHER- We\u2019re in store for another summery day in Cairo today<\/strong>, with a high of 31\u00b0C and a low of 20\u00b0C, according to our favorite weather app.<\/p>\n

It\u2019s a few degrees cooler in Alexandria<\/strong>, with a high of 27\u00b0C and a low of 19\u00b0C.<\/p>\n

** DID YOU KNOW that we now cover <\/strong>Saudi Arabia<\/a><\/strong> and the <\/strong>UAE<\/a><\/strong>?<\/strong><\/p>\n

** Were you forwarded this email?<\/strong> Tap or click here<\/a> to get your own copy delivered every weekday before 7am Cairo time \u2014 without charge.<\/p>\n

WATCH THIS SPACE- <\/p>\n

<\/a> Could Egypt soon be home to an official Apple store? <\/strong>Tech giant Apple wants to open an official Apple store in the country as part of plans to expand its presence in the local market, Hapi Journal<\/a> quotes Apple's Director of Government Affairs for the Middle East and Pakistan Omar El Rifai as saying in a meeting with Investment Minister Hassan El Khatib. The company views Egypt as a gateway for its expansion into Africa and the Middle East, El Rifai said, highlighting the company\u2019s continued commitment to developing call centers and training programs.<\/p>\n

REMEMBER-<\/strong> The government has expressed interest in attracting Apple to establish a manufacturing presence in the country, with Prime Minister Moustafa Madbouly saying in May of last year that Egypt is working to get Apple to set up a factory<\/a> here.<\/p>\n

HAPPENING TODAY- <\/p>\n

<\/a> #1- Private<\/strong> sector activity health check, incoming:<\/strong> Policymakers, private sector players, and economists are eagerly awaiting S&P Global\u2019s PMI figures for May that will be coming out shortly. April\u2019s reading saw non-oil private sector activity <\/a>decline further to 48.5<\/a> amid weaker consumer spending \u2014 marking Egypt\u2019s lowest PMI reading in 2025 so far.<\/p>\n

#2- It\u2019s day two of <\/strong>Fi Africa<\/a><\/strong> and<\/strong>ProPak MENA<\/a><\/strong> at the Egypt International Exhibition Center. <\/strong>The three-day annual conference (pdf)<\/a> \u2014 which focuses on the food, beverage, and packaging industries \u2014 will bring together over 400 exhibitors from Egypt, the Middle East, Asia, and Europe, as well as over 16k attendees. It will feature talks and workshops for F&B and consumer goods manufacturers and showcase new technologies in a bid to promote potential investments and encourage sustainability and food waste reduction. You can register for the event <\/a>through the link<\/a> available on the Fi Africa and ProPak MENA websites.<\/p>\n

FROM THE DEBT MARKETS- <\/p>\n

The Central Bank of Egypt auctioned off USD 485 mn worth of USD-denominated <\/strong>one-year treasury bills yesterday<\/strong>, surpassing the targeted USD 450 mn, according to the bank\u2019s website<\/a>. The bills were sold with a yield of 4.25%, which has been the rate throughout 2025.<\/p>\n

EGP-denominated t-bills were also offered up yesterday, with the auction raising EGP 58.8 bn <\/strong>\u2014 15% above its EGP 50 bn target, according to data from the CBE\u2019s website<\/a>. Average yields fell 0.107 percentage points to 27.918% on three-month bills, while they rose 0.091 percentage points to 26.678% on nine-month bills.<\/p>\n

IN CONTEXT-<\/strong> Investors have been demanding higher yields on short-term debt since the beginning of the CBE\u2019s monetary easing cycle back in April<\/a>, which has led to the Finance Ministry having to reject<\/a> bids across a number of auctions and miss its targets. Meanwhile, investors are favoring long-term bonds following the cuts, in what is a positive development that helps extend the maturity profile of public debt, reduces annual interest payments, and stimulates the secondary market for public debt instruments, a government source told EnterpriseAM previously.<\/p>\n

The end goal? <\/strong>The government aims<\/a> to bring down the debt-to-GDP ratio to 80% by the end of June 2026 and to lower the external debt by USD 1-2 bn annually.<\/p>\n

\n
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Get Enterprise<\/b> daily <\/h4>\n<\/p><\/div>\n

The roundup of news and trends that move your markets and shape corporate agendas delivered straight to your inbox.<\/p>\n

Subscribe here<\/a> <\/div>\n<\/p><\/div>\n<\/p><\/div>\n

\n

THE BIG STORY ABROAD-<\/p>\n

Musk is still managing to still make the headlines after his step back from his chaotic <\/strong>foray into politics<\/strong>, with his xAI company looking to raise USD 5 bn in debt with a double digit interest rate to build out the company\u2019s AI infrastructure. The company behind social media platform X and AI chatbot Grok is also selling USD 300 mn worth of stock in a tender offer that values the company at USD 113 bn. (Reuters<\/a> | Financial Times<\/a> | Bloomberg<\/a>)<\/p>\n

Also ranking high on the world\u2019s digital front pages are peace talks between Russia and <\/strong>Ukraine that give little hope that the war could soon come to an end. <\/strong>A second round of direct talks between the two nations in Istanbul ended with both sides trading ultimatums and agreeing only on limited humanitarian measures that included a prisoner swap. Russia demanded Ukrainian withdrawal from four regions and neutrality guarantees, while Ukraine called for a full ceasefire, US oversight, and the return of abducted children \u2014 of which Russia agreed to release just 10 from a list that Ukraine claims reaches 400. (Reuters<\/a> | Financial Times<\/a> | Bloomberg<\/a>)<\/p>\n

Meanwhile, leading the Guardian is a report claiming that Israel\u2019s deadly strikes on schools <\/strong>used as shelters are part of a deliberate strategy. <\/strong>The depressingly familiar reports of strikes on schools have become a hallmark of Israel\u2019s assault on Gaza, with the UN detailing in a report<\/a> last month that 406 schools have been struck with a direct hit during the 19 month-long war \u2014 accounting for 72% of all the enclave\u2019s schools. (Guardian<\/a>)<\/p>\n

<\/p>\n

*** It\u2019s Going Green day \u2014 your weekly briefing of all things green in Egypt:<\/strong> Enterprise\u2019s green economy vertical focuses each Tuesday on the business of renewable energy and sustainable practices in Egypt, everything from solar and wind energy through to water, waste management, sustainable building practices and how you can make your business greener, whatever the sector.<\/p>\n

In today\u2019s issue: <\/strong>We look at how desert sand can help make Egypt\u2019s construction sector more sustainable.<\/p>\n","protected":false},"excerpt":{"rendered":"

Good morning, all. In today\u2019s issue of EnterpriseAM Egypt, we\u2019ve got insights from leading HSBC economists, a USD 500 mn project to localize the production of baby formula, a deep-dive into how the EGX30 fared in May, and more. PSA- #1- Banks will be off from Thursday, 5 June through Monday, 9 June in observance […]<\/p>\n","protected":false},"author":1,"featured_media":666388,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[7204],"tags":[184,72,74],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-666387","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-what-were-tracking-today","tag-apple","tag-enterpriseam","tag-what-were-tracking-today","wpautop","entry"],"acf":{"mongo_id":"71f36aac-b15b-48e1-96bc-83e02d5239ae","order":"2","is_powered_by":true,"story_type":"4","photo_url":"https:\/\/ent.news\/2024\/10\/81.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Could Egypt soon be home to an official Apple store?","related_issue":[666385],"teaser":"","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2025\/6\/.e3936b22-c599-4ae4-a883-7a502dc499ed.mp3"},"yoast_head":"\nCould Egypt soon be home to an official Apple store? - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2025\/06\/03\/could-egypt-soon-be-home-to-an-official-apple-store\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Could Egypt soon be home to an official Apple store?\" \/>\n<meta property=\"og:description\" content=\"Good morning, all. 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And forgive us for being all Qatar, all the time today. We tried to focus on other news, but when even the Financial Times devotes five stories to the severing of ties by Egypt, Saudi Arabia,\u2026","rel":"","context":"In "What We're Tracking Today"","block_context":{"text":"What We're Tracking Today","link":"https:\/\/enterpriseam.com\/egypt\/category\/what-were-tracking-today\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":634792,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/01\/24\/apple-releases-the-homepod\/","url_meta":{"origin":666387,"position":1},"title":"Apple releases the HomePod","author":"enterpriseam admin","date":"24 January 2018","format":false,"excerpt":"In other miscellany worth noting this morning: Eleven Pacific Rim nations including Canada have agreed on a new version of the Trans-Pacific Partnership trade agreement a year after Donald Trump pulled the US out of the pact, the Wall Street Journal reports.The 2018 Oscar nominations are out, with \u201cadult fairytale\u201d\u2026","rel":"","context":"In "What We're Tracking Today"","block_context":{"text":"What We're Tracking Today","link":"https:\/\/enterpriseam.com\/egypt\/category\/what-were-tracking-today\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2018\/1\/626.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":646428,"url":"https:\/\/enterpriseam.com\/egypt\/2017\/06\/14\/what-were-tracking-on-14-june-2017\/","url_meta":{"origin":666387,"position":2},"title":"What we\u2019re tracking on 14 June 2017","author":"enterpriseam admin","date":"14 June 2017","format":false,"excerpt":"We have a domestic investment promotion campaign. The Ministry of Investment\u2019s new national ad campaign kicked off last night, and we\u2019re impressed with the first two copies we\u2019ve seen. The core message of the campaign, which is being run for the ministry by our friends at Tarek Nour Group\u2019s DDB:\u2026","rel":"","context":"In "What We're Tracking Today"","block_context":{"text":"What We're Tracking Today","link":"https:\/\/enterpriseam.com\/egypt\/category\/what-were-tracking-today\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":645263,"url":"https:\/\/enterpriseam.com\/egypt\/2017\/07\/17\/what-were-tracking-on-17-july-2017\/","url_meta":{"origin":666387,"position":3},"title":"What we\u2019re tracking on 17 July 2017","author":"enterpriseam admin","date":"17 July 2017","format":false,"excerpt":"The Egyptian Exchange announced yesterday the final list of candidates vying for the listed companies\u2019 seat on its board of directors, Al Masry Al Youm reports. The first round of board elections was held in June. It\u2019s Game of Thrones day in Egypt as the season seven premiere airs on\u2026","rel":"","context":"In "What We're Tracking Today"","block_context":{"text":"What We're Tracking Today","link":"https:\/\/enterpriseam.com\/egypt\/category\/what-were-tracking-today\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":624530,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/09\/12\/an-iphone-x-costs-133-days-of-work-in-cairo-4-7-in-zurich\/","url_meta":{"origin":666387,"position":4},"title":"An iPhone X costs 133 days of work in Cairo, 4.7 in Zurich.","author":"enterpriseam admin","date":"12 September 2018","format":false,"excerpt":"Apple will unveil its fall 2018 lineup starting at 7pm CLT today. Expect a trio of new iPhones, a new Apple Watch and possibly new iPads and new Macbooks. Axios has the rundown on what to expect, and the Financial Times has five things to look for. You can watch\u2026","rel":"","context":"In "What We're Tracking Today"","block_context":{"text":"What We're Tracking Today","link":"https:\/\/enterpriseam.com\/egypt\/category\/what-were-tracking-today\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2018\/9\/2707.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":591873,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/12\/19\/a-20-year-old-startups-ceo-is-on-making-it-today-finance-geeks-this-ones-for-you\/","url_meta":{"origin":666387,"position":5},"title":"A 20-year-old startup\u2019s CEO is on Making It today, finance geeks, this one\u2019s for you","author":"enterpriseam admin","date":"19 December 2019","format":false,"excerpt":"The next episode of our interview show about building a great business in Egypt is out today: Today\u2019s episode of Making It is a must-listen for finance nerds. Look for the episode in your podcast feed in time for your afternoon commute. You can listen on our website | Apple\u2026","rel":"","context":"In "What We're Tracking Today"","block_context":{"text":"What We're Tracking Today","link":"https:\/\/enterpriseam.com\/egypt\/category\/what-were-tracking-today\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2019\/11\/Making-It-Album-Cover-1600px.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/666387","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/comments?post=666387"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/666387\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/666385"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/666388"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=666387"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=666387"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=666387"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=666387"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=666387"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}