{"id":670604,"date":"2025-08-22T00:00:00","date_gmt":"2025-08-22T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2025\/08\/22\/usd-rebounds-against-egp\/"},"modified":"2025-08-22T00:00:00","modified_gmt":"2025-08-22T00:00:00","slug":"usd-rebounds-against-egp","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2025\/08\/22\/usd-rebounds-against-egp\/","title":{"rendered":"USD rebounds against EGP"},"content":{"rendered":"

Good morning, friends, and happy weekend<\/strong>. As temperatures rise, so do our collective desires to stay in, pick up a book, and lose ourselves in fiction. On that note\u2026<\/p>\n

In this week\u2019s edition of The Enterprise Guide<\/strong>, we\u2019re taking a deep dive into Cairo\u2019s literary scene \u2014 from off-the-beaten-path bookstores, to bookish communities you might just want to join (with a few plot twists here and there).<\/p>\n

?\ufe0f LAST WEEK IN 3 <\/strong>MINS-<\/p>\n

EGP WATCH- <\/strong><\/p>\n

The USD has <\/strong>rebounded<\/a><\/strong> against the EGP<\/strong>, in an attempt to claw back some of its losses after a few weeks of steady declines. The USD was changing hands around EGP 48.45-48.55 at state and private banks by the end of yesterday\u2019s trading.<\/p>\n

ENERGY- <\/strong><\/p>\n

Oil production in Egypt <\/strong>saw its lowest output<\/a><\/strong> since the early 1980s<\/strong>, dropping to 513k bbl\/d in 2Q 2025. The decline is cutting into a key source of state revenue and forcing the country to lean more heavily on oil imports to cover domestic consumption. The drop comes alongside a slump in gas output, which fell to a nine-year low of 4.2 bcf\/d in 2Q.<\/p>\n

CAPITAL MARKETS- <\/strong><\/p>\n

Tax breaks on IPO proceeds? <\/strong>A full tax exemption on IPO proceeds is at the top of a package of incentives the government is preparing<\/a> to boost liquidity on the EGX ahead of the next phase of its privatization program.<\/p>\n

MOVES- <\/strong><\/p>\n

Hassan Abdalla will stay on for another year<\/strong>: President Abdel Fattah El Sisi has reappointed<\/a> Hassan Abdalla as the acting governor of the Central Bank of Egypt for another one-year term. El Sisi met with Abdalla on Monday to discuss efforts to continue curbing inflation and strengthening the country\u2019s FX reserves.<\/p>\n

TAX-<\/strong><\/p>\n

What\u2019s the plan for taxing crude oil? <\/strong>The Finance Ministry is looking to register crude oil<\/a>suppliers<\/a> before implementing recent VAT amendments that would see them face a 10% tax, a senior government source told EnterpriseAM.<\/p>\n

BANKING- <\/strong><\/p>\n

Egypt\u2019s first digital bank to see the light soon<\/strong>: Banque Misr\u2019s Misr Digital Innovation (MDI) has received approval<\/a> from the Central Bank of Egypt to transform into onebank, the country's first fully digital-native bank. The move is expected to accelerate our transition toward a digital economy.<\/p>\n

\n

? AROUND THE WORLD IN SEVEN DAYS- <\/p>\n

<\/p>\n

The disjoin<\/strong>ted conversations over ending the Russia-Ukraine war got plenty of ink <\/strong>this week<\/strong>, as Russia and the US\u2019 summit on Ukraine in Alaska ended with no ceasefire<\/a> agreement on Saturday \u2014 but with Russian President Vladimir Putin reportedly demanding more land in Ukraine. <\/p>\n

Trump is now <\/strong>arranging a meeting<\/a><\/strong> between Ukraine\u2019s Zelensky and Russia\u2019s Vladimir <\/strong>Putin<\/strong> after Trump and Zelensky agreed that the US would help ensure Ukraine\u2019s security in any peace agreement with Russia. Zelensky and Putin could meet in Hungary in the next two weeks, with that meeting expected to be followed by a trilateral meeting with Trump to reach a final agreement to end the war between Kyiv and Moscow.<\/p>\n

\n

\n

OVER IN THE US ECONOMY<\/strong>- Federal Reserve policymakers are equally concerned<\/a> about the twin risks of rising inflation and falling employment levels, but ultimately decided that inflation is the greater risk of the two. The meeting came two days before the Labor Department released data showing the unemployment rate rose in July, followed by a revision to employment estimates that has undermined the notion that the US\u2019 job market remains strong. <\/p>\n

\n

\n

REGIONALLY-<\/strong>- Israel is stepping up its offensive<\/a>, confirming that it has \u201cbegun the preliminary operations and the first stages of the attack on Gaza City.\u201d The Israeli army is now \u201cholding the outskirts of Gaza City,\u201d marking a step towards implementing a widely criticized plan to take over the city. This came as Israel called on 60k reserve troops to join the war, even as it is considering its response to the latest ceasefire proposal. <\/p>\n

\n

\n

OVER IN THE BUSINESS PRESS<\/strong>- Intel is getting a USD 2 bn investment from SoftBank, which is buying a c.2% stake in Intel \u2014 some 87 mn shares \u2014 at USD 23 apiece. The share price is slightly below Intel\u2019s closing price on Wednesday of USD 23.66, but is widely seen as a \u201clifeline\u201d for the US chipmaker, which reported net losses last year for the first time in nearly four decades. SoftBank\u2019s investment, which makes it Intel\u2019s fifth-largest shareholder, also comes as the US government is reportedly in talks to snap up a 10% stake in Intel.<\/p>\n

The White House is <\/strong>\u201cironing out the details\u201d<\/a><\/strong> of a potential acquisition of a 10% stake <\/strong>in Intel<\/strong>. The US government appears to be looking to get the stake in Intel in exchange for grants the company received under the Biden administration, with Treasury Secretary Scott Bessent saying, \u201cThe stake would be a conversion of the grants and maybe increase the investment into Intel to help stabilize the company for chip production here.\u201d<\/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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\n

\u2600\ufe0f THE WEATHER THIS WEEKEND- <\/p>\n

We\u2019re in for a warm weekend<\/strong>, with temperatures in Cairo set to peak at 36-38\u00b0C over the weekend, before cooling down to 23-24\u00b0C. Up north, we\u2019re in for breezy weather, with a high of 29\u00b0C and a low of 27\u00b0C, according to our favorite weather app.<\/p>\n

\n

?\ufe0f HAPPENING THIS WEEKEND-<\/p>\n

The 33rd edition of the Citadel Festival for Music and Singing kicked off last weekend and is <\/strong>set to conclude tomorrow<\/strong>. Don\u2019t miss out on the diverse lineup<\/a> of opera and pop singers at the Salah El-Din Citadel. Get your tickets at the door or through Tazkarti<\/a>.<\/p>\n

Stage powerhouse <\/strong>Wegz<\/a><\/strong> is back again<\/strong> for another epic performance at New Alamein Festival at U Arena. Don\u2019t miss this electric night tonight. Get your tickets on Tazkarti<\/a>. <\/p>\n

ESC\u0100 Beach Club is about to serve up a slice of European summers tonight <\/strong>in Ras El Hekma<\/strong>. Italian DJ duo Fideles<\/a> will be doubling down on energy \u2014 electrifying all those in attendance with their signature techno beats. Joining them is Berlin-based Russian DJ Yulia Niko<\/a> \u2014 and in case that wasn\u2019t enough, Egyptian DJs Ashmawy<\/a> and Mohasseb<\/a> will be playing back to back. You can secure your spot through Ticketsmarch\u00e9<\/a>.<\/p>\n

Ready for a Bedouin night in Sahel? Well, it\u2019s not exactly what you think it is \u2014 it\u2019s even <\/strong>better<\/strong>. Tonight, Brooklyn-hailing self-proclaimed nomadic DJ duos Bedouin<\/a> will be bringing the sonic sandstorm to North Coast\u2019s D-Bay. Think deep house with Middle Eastern influences\u2026and a lot more. Tickets are available on Ticket Egypt.<\/a> <\/p>\n

Tamer Hosny is on a roll this summer, <\/strong>performing once more in Sahel alongside Shamy at the Address Beach Resort for Layali Marassi<\/a> tomorrow. Grab your tickets from Ticketsmarch\u00e9<\/a>. <\/p>\n

\n

?\ufe0f HAPPENING NEXT WEEKEND-<\/p>\n

Icons Ruby and Ramy Sabry to light it up<\/strong> at the Tiatro Romano<\/a> Festival on Thursday, 28 August. Keep the fun Sahel summer nights going and get your tickets through Ticketsmarch\u00e9<\/a>.<\/p>\n

Hitmaker <\/strong>Tul8te<\/strong> to wrap up the New Alamein Festival <\/strong>on Friday, 29 August. Enjoy an unforgettable night of his captivating pop melodies at U Arena<\/a>. Head to Tazkarti<\/a> for tickets. <\/p>\n

The beloved <\/strong>Cairokee<\/a><\/strong> are also making an appearance<\/strong> at this year\u2019s New Alamein Festival. Sing along to the band\u2019s bittersweet ballads and rock hits for an unforgettable Sahel night on Friday, 29 August at U Arena. Tickets available on Tazkarti<\/a>. <\/p>\n

Nostalgia <\/strong>called, and Nancy<\/strong> Ajram and Hamaki are picking up on Saturday, 30 August<\/strong> at the Address Beach Resort. The duo will be performing back to back as part of the Layali Marassi festival<\/a>. Tickets can be purchased through Ticketsmarch\u00e9<\/a>.<\/p>\n

Solomun is ending the Sahel season with one heck of a bang. <\/strong>On Friday, 29 August, the Bosnian-German DJ<\/a> will be headlining the season\u2019s closing party at D-Bay<\/a>. A global deep house and techno icon, Solomun is going to make sure Sahel 2025 will be a tough act to follow. You can get your tickets from Ticket Egypt<\/a>. <\/p>\n","protected":false},"excerpt":{"rendered":"

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We hope you survived yesterday\u2019s sandstorm and that your weekend plans are all indoors.Eat your heart out, Mad Max: Photos of massive dust clouds and yellow skies, reports of trees falling on cars, and of a billboard falling and disrupting traffic on the 6th of\u2026","rel":"","context":"In "THE WEEK IN REVIEW"","block_context":{"text":"THE WEEK IN REVIEW","link":"https:\/\/enterpriseam.com\/egypt\/category\/the-week-in-review\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2023\/6\/35.JPG?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":584482,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/03\/31\/its-the-second-week-of-ramadan-is-the-fy-2023-2024-draft-budget-coming-next-week\/","url_meta":{"origin":670604,"position":1},"title":"It\u2019s the second week of Ramadan + is the FY 2023-2024 draft budget coming next week?","author":"enterpriseam admin","date":"31 March 2023","format":false,"excerpt":"Good morning, friends, and welcome to the second week of Ramadan. Are you a \u201cRamadan is flying by\u201d person or a \u201cIt is crawling at a snail\u2019s pace\u201d person? On most days, we\u2019re the latter. Not helping is the flurry of privatization and M&A news\u2026and the wait for the next\u2026","rel":"","context":"In "THE WEEK IN REVIEW"","block_context":{"text":"THE WEEK IN REVIEW","link":"https:\/\/enterpriseam.com\/egypt\/category\/the-week-in-review\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2023\/3\/702.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":595537,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/09\/30\/egp-egx-rally-after-cbe-rate-cut\/","url_meta":{"origin":670604,"position":2},"title":"EGP, EGX rally after CBE rate cut","author":"enterpriseam admin","date":"30 September 2019","format":false,"excerpt":"The EGP flexed its muscles against the USD yesterday, rallying on the first market day after the central bank cut key interest rates by another 100 bps in last week\u2019s MPC meeting (watch, runtime: 02:22). The EGP strengthened to 16.31 against the greenback on Sunday compared to 16.38 on Thursday.\u2026","rel":"","context":"In "Enterprise+: Last Night\u2019s Talk Shows"","block_context":{"text":"Enterprise+: Last Night\u2019s Talk Shows","link":"https:\/\/enterpriseam.com\/egypt\/category\/enterprise-last-nights-talk-shows\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":590157,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/07\/14\/the-govt-was-working-overtime-last-week-we-have-a-four-day-week-ahead-of-us\/","url_meta":{"origin":670604,"position":3},"title":"The gov\u2019t was working overtime last week + we have a four-day week ahead of us","author":"enterpriseam admin","date":"14 July 2023","format":false,"excerpt":"Good morning, lovely people, and happy FRIDAY. After what felt like a rollercoaster of a week, we\u2019re very happy to remind you that next week is a shortened workweek, with a long four-day weekend ahead. REMEMBER- Thursday, 20 July and Sunday, 23 July will be national holidays for the public\u2026","rel":"","context":"In "THE WEEK IN REVIEW"","block_context":{"text":"THE WEEK IN REVIEW","link":"https:\/\/enterpriseam.com\/egypt\/category\/the-week-in-review\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2023\/7\/533.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":668973,"url":"https:\/\/enterpriseam.com\/egypt\/2025\/07\/24\/egp-strengthens-against-the-greenback\/","url_meta":{"origin":670604,"position":4},"title":"EGP strengthens against the greenback","author":"enterpriseam admin","date":"24 July 2025","format":false,"excerpt":"Good morning, friends, and welcome to the weekend. It\u2019s been a relatively calm week, and we\u2019re manifesting an even calmer weekend. Haven\u2019t planned out your time yet? We might have a few ideas\u2026Oftentimes a summer escapade manifests itself in a trip up north, but what if that\u2019s not what you\u2019re\u2026","rel":"","context":"In "THE WEEK IN REVIEW"","block_context":{"text":"THE WEEK IN REVIEW","link":"https:\/\/enterpriseam.com\/egypt\/category\/the-week-in-review\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2025\/7\/1490.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":580563,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/01\/05\/this-evening-egp-slips-against-the-usd-to-new-record-merry-christmas-everyone\/","url_meta":{"origin":670604,"position":5},"title":"THIS EVENING: EGP slips against the USD to new record + Merry Christmas, everyone","author":"enterpriseam admin","date":"5 January 2023","format":false,"excerpt":"Happy THURSDAY, wonderful people. We made it through the first work week of 2023 and are being rewarded with another long weekend. Merry Christmas to all of our Coptic Christmas friends and anybody else who is observing the day this weekend.PSA- EnterprisePM is taking a day off this coming Sunday,\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\/2023\/1\/607.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\/670604","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=670604"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/670604\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/weekend\/670602"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/670605"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=670604"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=670604"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=670604"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=670604"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=670604"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}