{"id":666827,"date":"2025-06-15T00:00:00","date_gmt":"2025-06-15T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2025\/06\/15\/egp-and-egx-see-sharp-declines-on-the-back-of-regional-escalations\/"},"modified":"2025-06-15T00:00:00","modified_gmt":"2025-06-15T00:00:00","slug":"egp-and-egx-see-sharp-declines-on-the-back-of-regional-escalations","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2025\/06\/15\/egp-and-egx-see-sharp-declines-on-the-back-of-regional-escalations\/","title":{"rendered":"EGP and EGX see sharp declines on the back of regional escalations"},"content":{"rendered":"

Good afternoon, all and welcome to the start of another workweek. <\/strong>The newscycle remains dominated by the ongoing escalations between Israel and Iran and their impact on local, regional, and global markets. <\/p>\n

\n

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

The <\/strong>EGP and EGX see sharp declines on the back of regional escalations: <\/strong>After weeks of strengthening against the greenback, the EGP saw a sharp dip today \u2014 the first day of trading since Israel and Iran started trading attacks. The USD crossed the EGP 51 mark for the first time since April<\/a> during trading, before settling at EGP 50.62. The dip was the result of foreign investors exiting our local debt market in favor of safer havens, three sources in the banking sector told EnterpriseAM. <\/p>\n

AS FOR THE EGX- <\/strong>All indices ended today\u2019s trading session in the red with the EGX losing EGP 94 bn of its market value at the close of the session. The benchmark EGX30 was down 7.5% during the first few minutes of trading, before recovering some of its losses to end the day down 4.6%.<\/p>\n

All in the red: <\/strong>All EGX30 constituents ended the session in the red. The biggest losers included EFG Holding (12.4%), Orascom Development Egypt (11.1%), and GB Corp (9.4%), while the smallest declines included Alexandria Containers and Cargo Handling (-0.04%), Fawry (-0.9%), and Telecom Egypt (-1.6%).<\/p>\n

\n

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

The Israel-Iran conflict continues:<\/strong> Iran and Israel continued to exchange attacks, intensifying the ongoing conflict between them and derailing the nuclear talks with the US that were set to take place in Oman today. The strikes have killed nearly 140 people in Iran and ten in Israel.<\/p>\n

Iranian Foreign Minister Abbas Araghchi said that Iran was acting in self defense<\/strong> and that it has evidence showing that the attacks were supported by the US. The leaders of Iran and Israel are both threatening more intense attacks if neither stops attacking. \u201cThis defence is our response to aggression. If the aggression stops, naturally our responses will also stop,\u201d he said<\/a> during a meeting with foreign diplomats. <\/p>\n

The Trump response: <\/strong>US President Donald Trump warned Iran against attacking the US, saying that the \u201cfull strength and might of the US Armed Forces will come down on you at levels never seen before.\u201d He said that the US had \u201cnothing to do\u201d with the Israeli attacks on Tehran and that an agreement could \u201ceasily\u201d be reached between the two sides. <\/p>\n

Yemen\u2019s Houthis have joined the fight in support of Iran<\/strong>, launching missile attacks on Israeli targets. Israel responded with its own attacks on the Yemeni port city of Hudaydah. (Reuters<\/a> | Financial Times<\/a> | The Guardian<\/a> | AP<\/a>)<\/p>\n

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

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\"enterprise\"<\/p>\n

*** It\u2019s Inside Industry day \u2014 your weekly briefing of all things industrial in Egypt.<\/strong> Inside Industry focuses each Sunday on what it takes to turn Egypt into a manufacturing and export powerhouse, ranging from initial investment and planning to product distribution, through to land allocation to industrial processes, supply chain management, labor, automation and technology, inputs and exports, regulation and policy.<\/p>\n

In today\u2019s issue: <\/strong>We look at how smart packaging and sustainability have become Egypt\u2019s gateway to global markets. <\/p>\n

\u2600\ufe0f TOMORROW\u2019S WEATHER-<\/strong> The capital will be seeing warm breezy weather tomorrow, with the mercury set to peak at 34\u00b0C throughout the day before cooling down to 22\u00b0C at night. The North Coast will be experiencing cooler weather, with the temperature expected to reach just 29\u00b0C during the day and 20\u00b0C at night, according to our favorite weather app.<\/p>\n","protected":false},"excerpt":{"rendered":"

Good afternoon, all and welcome to the start of another workweek. The newscycle remains dominated by the ongoing escalations between Israel and Iran and their impact on local, regional, and global markets. THE BIG STORY TODAY- The EGP and EGX see sharp declines on the back of regional escalations: After weeks of strengthening against the […]<\/p>\n","protected":false},"author":1,"featured_media":666828,"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":[7213],"tags":[633,2234,634],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-666827","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-what-were-tracking-tonight","tag-enterprisepm","tag-foreign-exchange","tag-what-were-tracking-tonight","wpautop","entry"],"acf":{"mongo_id":"f9d9b6ce-e0bb-4125-8cf0-46678e9b7e7e","order":"1","is_powered_by":false,"story_type":"4","photo_url":"https:\/\/ent.news\/2025\/3\/119.jpg","photo_position":"above","homepage_title":"","full_issue_title":"","related_issue":[666825],"teaser":"","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2025\/6\/.4f82a134-ce3f-49af-b54a-c200a500427e.mp3"},"yoast_head":"\nEGP and EGX see sharp declines on the back of regional escalations - 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\/15\/egp-and-egx-see-sharp-declines-on-the-back-of-regional-escalations\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"EGP and EGX see sharp declines on the back of regional escalations\" \/>\n<meta property=\"og:description\" content=\"Good afternoon, all and welcome to the start of another workweek. 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The newscycle remains dominated by the ongoing escalations between Israel and Iran and the latest US strikes on Iran and their local and regional impact.THE BIG STORY TODAY- The EGP continued to weaken against the greenback today, with the\u2026","rel":"","context":"In "WHAT WE\u2019RE TRACKING TONIGHT"","block_context":{"text":"WHAT WE\u2019RE TRACKING TONIGHT","link":"https:\/\/enterpriseam.com\/egypt\/category\/what-were-tracking-tonight\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2025\/6\/1239.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":666912,"url":"https:\/\/enterpriseam.com\/egypt\/2025\/06\/16\/egp-strengthens-against-the-usd\/","url_meta":{"origin":666827,"position":1},"title":"EGP strengthens against the USD","author":"enterpriseam admin","date":"16 June 2025","format":false,"excerpt":"Good afternoon, friends. It\u2019s another day with all eyes on the region, as the Israel-Iranian conflict continues to unfold \u2014 here in Egypt, everyone is closely following the impact of it all on markets, the exchange rate, and investor sentiment. THE BIG STORY TODAY- The EGP bounced back after a\u2026","rel":"","context":"In "WHAT WE\u2019RE TRACKING TONIGHT"","block_context":{"text":"WHAT WE\u2019RE TRACKING TONIGHT","link":"https:\/\/enterpriseam.com\/egypt\/category\/what-were-tracking-tonight\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2025\/6\/827.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":666987,"url":"https:\/\/enterpriseam.com\/egypt\/2025\/06\/17\/egp-continues-to-strengthen-against-the-greenback\/","url_meta":{"origin":666827,"position":2},"title":"EGP continues to strengthen against the greenback","author":"enterpriseam admin","date":"17 June 2025","format":false,"excerpt":"Good afternoon, all. After a couple of busy days, the news cycle has taken a breather. Mark your calendar for the 2025 EnterpriseAM Egypt Forum, our flagship forum and part of our must-attend series of invitation-only, C-suite-level gatherings. Tap to register your interest to attend. Want to partner with us?\u2026","rel":"","context":"In "WHAT WE\u2019RE TRACKING TONIGHT"","block_context":{"text":"WHAT WE\u2019RE TRACKING TONIGHT","link":"https:\/\/enterpriseam.com\/egypt\/category\/what-were-tracking-tonight\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2025\/1\/2098.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":666864,"url":"https:\/\/enterpriseam.com\/egypt\/2025\/06\/16\/egp-dips-below-the-egp-51-mark-in-trading-against-the-greenback-as-israel-iran-conflict-escalates\/","url_meta":{"origin":666827,"position":3},"title":"EGP dips below the EGP 51 mark in trading against the greenback as Israel-Iran conflict escalates","author":"enterpriseam admin","date":"16 June 2025","format":false,"excerpt":"\u201cThe exchange rate is the government\u2019s top concern,\u201d a banking source told EnterpriseAM","rel":"","context":"In "EGP Watch"","block_context":{"text":"EGP Watch","link":"https:\/\/enterpriseam.com\/egypt\/category\/egp-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2025\/4\/145.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":667384,"url":"https:\/\/enterpriseam.com\/egypt\/2025\/06\/24\/ascom-eyes-rayas-90-stake-in-ostool\/","url_meta":{"origin":666827,"position":4},"title":"ASCOM eyes Raya\u2019s 90% stake in Ostool","author":"enterpriseam admin","date":"24 June 2025","format":false,"excerpt":"Good afternoon, everyone. We\u2019re racing towards the final stretch of the week and into the long weekend. The latest developments between Iran and Israel and their impact on markets (and the EGP) continue to drive the news cycle.THE BIG STORY TODAY- #1- ASCOM eyes Raya\u2019s stake in Ostool: Qalaa\u2019s mining\u2026","rel":"","context":"In "WHAT WE\u2019RE TRACKING TONIGHT"","block_context":{"text":"WHAT WE\u2019RE TRACKING TONIGHT","link":"https:\/\/enterpriseam.com\/egypt\/category\/what-were-tracking-tonight\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2025\/6\/1417.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":666946,"url":"https:\/\/enterpriseam.com\/egypt\/2025\/06\/17\/egp-bounces-back-against-the-greenback-as-panic-among-foreign-investors-subsides\/","url_meta":{"origin":666827,"position":5},"title":"EGP bounces back against the greenback as panic among foreign investors subsides","author":"enterpriseam admin","date":"17 June 2025","format":false,"excerpt":"Markets were less reactive despite continued Israel-Iran escalations overnight","rel":"","context":"In "EGP Watch"","block_context":{"text":"EGP Watch","link":"https:\/\/enterpriseam.com\/egypt\/category\/egp-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2025\/4\/1489.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\/666827","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=666827"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/666827\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/afternoon\/666825"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/666828"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=666827"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=666827"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=666827"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=666827"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=666827"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}