{"id":674620,"date":"2025-10-31T00:00:00","date_gmt":"2025-10-31T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2025\/10\/31\/t-minus-31-hours-until-the-grand-opening-of-the-grand-egyptian-museum\/"},"modified":"2025-10-31T00:00:00","modified_gmt":"2025-10-31T00:00:00","slug":"t-minus-31-hours-until-the-grand-opening-of-the-grand-egyptian-museum","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2025\/10\/31\/t-minus-31-hours-until-the-grand-opening-of-the-grand-egyptian-museum\/","title":{"rendered":"T minus 31 hours until the grand opening of the Grand Egyptian Museum"},"content":{"rendered":"

Good morning, friends, and happy weekend. <\/strong>It\u2019s been a long week, and we have an issue to match, so let\u2019s dive in.<\/p>\n

Most people wait until New Year\u2019s to commit to improving their lives. But those with <\/strong>entrepreneurial mindsets know that 4Q offers the chance to charge into the new year. <\/strong>This week\u2019s guide is the second of a series that will serve as your roadmap for the coming 90 days. Instead of just surviving the last few months of the year, why not transform your life?<\/p>\n

Enterprise Weekend comes out each Friday at 9:00am CLT.<\/strong> We\u2019ll be back on Sunday at 6am with EnterpriseAM. Until then: Enjoy the weekend.<\/p>\n

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

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

We\u2019re closer to GEM\u2019s grand opening than ever<\/strong>, with the long-anticipated opening event festivities for the world\u2019s largest archaeological museum kicking off tomorrow<\/a>. To ensure smooth operations, Prime Minister Moustafa Madbouly announced the day \u2014 Saturday, 1 November \u2014 a paid day off for public sector workers.<\/p>\n

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

The government is doubling down on its privatization drive <\/strong>\u2014 with a wider scope and<\/a>new approach<\/a>, as the Madbouly government plans to expand its privatization program to include 50 state-owned companies spanning 14 economic sectors, up from 35 currently in focus, two government sources told EnterpriseAM. The new methodology aims to broaden private-sector capital participation, rather than rely solely on strategic asset sales.<\/p>\n

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

Energean inked a 15-year transmission agreement for Israel\u2019s Nitzana pipeline to <\/strong>Egypt<\/strong>, the LSE-listed oil and gas company said in a statement. Under the agreement<\/a> with the state-owned Israel Natural Gas Lines, the company will supply 1 bcm a year and cover USD 100 mn \u2014 or 16.4% \u2014 of construction costs.<\/p>\n

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

#1- Tax hike on alcoholic beverages coming soon: <\/strong>The Finance Ministry is preparing to tax<\/a>alcoholic beverages<\/a> based on their alcohol by volume percentage (ABV) in accordance with the amended VAT law<\/a> starting 1 January 2026. The tax rate is set to rise by 15% annually for the next three years \u2014 after which the annual increase will be reduced to 12% starting 2029, according to a document seen by EnterpriseAM. <\/p>\n

#2- The Finance Ministry has stepped in to resolve a major transitional headache for <\/strong>the construction sector following new VAT rules<\/strong>, approving a new accounting mechanism to effectively apply the new 14% VAT law<\/a> to contracts inked before the new VAT rules while technically maintaining the original 5% rate, according to an official decision seen by EnterpriseAM.<\/p>\n

M&A WATCH-<\/strong><\/p>\n

Edge Holding for Investments signed an agreement to acquire a <\/strong>30% stake in Basata<\/a><\/strong> Microfinance<\/strong>, a subsidiary of Basata Financial Holding (BFH), through a capital increase, according to a joint statement (pdf)<\/a>. Edge will take on management duties to support Basata\u2019s nationwide expansion. There\u2019s no publicly available information about the size of the transaction and the number of new shares that will be issued.<\/p>\n

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

#1- The country\u2019s first retail bond issuance should <\/strong>go live in Q1 2026<\/a><\/strong> or even before <\/strong>the end of 2025,<\/strong> a senior government official told EnterpriseAM. The issuance will be accompanied by a promotional campaign to attract tempted investors, the source added.<\/p>\n

#2- The Madbouly government <\/strong>postponed its first-ever local sukuk issuance<\/a><\/strong> to next <\/strong>Monday<\/strong>, with settlement scheduled for the following day, after originally being pencilled in for last week, a senior government official told EnterpriseAM. The move marks the third time the shariah-compliant issuance has been postponed.<\/p>\n

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

Chinese smartphone maker Oppo officially kicked off production at its Tenth of <\/strong>Ramadan factory<\/strong> as part of a USD 50 mn investment plan<\/a> that will create 2k jobs, according to a company statement (pdf). The facility produces 400k units per month with plans to expand to 500k units in early 2026. Oppo also plans to raise the local component ratio in its Egypt-assembled phones, up from a current 42%.<\/p>\n

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

An Egyptian-Chinese consortium <\/strong>will invest over USD 75 mn<\/a><\/strong> across three new <\/strong>textile projects in Qantara West Industrial Zone<\/strong>, according to a statement. The projects, spanning 225k sqm, are expected to generate over USD 100 mn in annual exports and create around 3.6k jobs.<\/p>\n

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

Emirati port operator DP World <\/strong>inaugurated its USD 85 mn Sokhna Logistic Park<\/a><\/strong> in <\/strong>the Sokhna Industrial Zone<\/strong>, marking a strategic step in Egypt\u2019s efforts to position itself as a regional hub for logistics services and global trade, according to a cabinet statement. The first phase of the project has begun operations, while the second will go online in 3Q 2026, once both are operational the zone will create 300 jobs.<\/p>\n

\n

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

<\/p>\n

US<\/strong> President Donald Trump announced a 10% increase in tariffs on Canada<\/strong> \u2014 imports from the country are currently subject to a baseline 35% tariff \u2014 in response to a television ad sponsored by Canada\u2019s Ontario province, featuring former Republican US president Ronald Reagan criticizing tariffs as harmful to the economy. (Reuters<\/a> | Associated Press<\/a> | Wall Street Journal<\/a> | New York Times<\/a> | Bloomberg<\/a> | Guardian<\/a>)<\/p>\n

Less than a day after announcing the <\/strong>tariff hike on Canada<\/strong>, Trump struck several <\/strong>trade agreements with Asian countries during a trip throughout the continent<\/strong>, including a critical minerals pact with Malaysia and Japan, and a reciprocal trade agreement with Cambodia. A trade agreement between the US and Vietnam is also set to be finalized \u201cin the coming weeks.\u201d (CNN<\/a> | Bloomberg<\/a> | Reuters<\/a> | BBC<\/a> | Washington Post<\/a>)<\/p>\n

ALSO- The long-awaited meeting between US President Donald Trump and Chinese <\/strong>President Xi Jinping in South Korea has turned out <\/strong>\u201camazing,\u201d<\/a><\/strong> Trump said, describing the crucial trade talks that had markets swinging and the world holding its breath in fear of a reignited trade war between the two global superpowers. The US president further noted that disputes over the supply of rare-earth materials<\/a> have now been settled.<\/p>\n

MEANWHILE- <\/strong>Argentina\u2019s right-wing president led his party to a decisive victory in <\/strong>Sunday's midterm elections.<\/strong> Milei\u2019s victory follows a campaign in which Trump announced a USD 40 bn bailout package for the country were Milei to remain in office, after threatening to cut aid<\/a> to the country in the event of Milei\u2019s loss. (BBC<\/a> | Guardian<\/a> | Washington Post<\/a> | Politico<\/a> | Associated Press<\/a> | New York Times<\/a>)<\/p>\n

IN PARIS- French police arrested two suspects<\/strong> they say could be related to the theft of bns worth of jewels from Paris\u2019 Louvre Museum last week. (Guardian<\/a> | Reuters<\/a>)<\/p>\n

OVER IN THE BUSINESS PRESS- Amazon\u2019s plans to cut some 30k corporate jobs<\/strong>, its largest cut yet, slashing around 10% of its corporate workforce. The move comes as the firm looks to cut expenses and trim back its team after an overhiring wave during peak demand in the pandemic. (Reuters<\/a> | Wall Street Journal<\/a> | CNBC<\/a>)<\/p>\n

CLOSER TO HOME- The Israel-Hamas ceasefire seems to be in its most fragile state <\/strong>yet<\/strong>, after Israel launched military strikes on Gaza on Tuesday, killing 104 people and injuring over 200 others. An Israeli military official said the strike was in response to an attack from Hamas against Israeli military forces in an area within Gaza that is under Israeli control. (Reuters<\/a> | Bloomberg<\/a> | Financial Times<\/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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\u2600\ufe0f THE WEATHER THIS WEEKEND- <\/p>\n

We\u2019re in for a warm couple of days this weekend<\/strong>, with temperatures in the capital on Friday peaking at 31\u00b0C before cooling down to 21\u00b0C. On Saturday, we\u2019re in for a high of 30\u00b0C and a low of 21\u00b0C, according to our favorite weather app. <\/p>\n

\n

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

Honor the 50th anniversary of Umm Kulthum\u2019s passing with a musical<\/strong> produced by El Adl Group Studios at The Theater. Experience the legend\u2019s life story through this special musical showing tonight. Tickets are available on Ticketsmarch\u00e9<\/a>. <\/p>\n

Alt-scene pioneers Wust El Balad are headlining this year\u2019s Cairo Jazz Festival<\/strong>. Catch them live<\/a> at AUC Tahrir Square tonight and jam out to their most nostalgic hits. You can get your tickets on Ticketsmarch\u00e9<\/a>. <\/p>\n

Cairokee live? Unmissable.<\/strong> The superband is back for another unforgettable night<\/a> at El Malahy Arena tonight. Sing your heart out to their culture-defining anthems and grab your tickets now on Ticketsmarch\u00e9<\/a> before they sell out. <\/p>\n

Darb 15<\/strong> is bringing us another <\/strong>Huge Garage Sale<\/a><\/strong> happening today and tomorrow. Head to the iconic Maadi hub and browse through second-hand treasures, handmade pieces, and unexpected finds \u2014 just in time for the winter season. <\/p>\n

Vegan friends, celebrate your day with Osana\u2019s <\/strong>Plantopia<\/a><\/strong> Vegan Market <\/strong>in Maadi tomorrow from 11 AM to 5 PM. Explore new plant-based bites, sustainable goods, and cruelty-free products. You can recharge with a conscious living meditation session, and even bring your kids along for a fun mindful eating activity by securing a spot for them here<\/a>.<\/p>\n

Calling all art enthusiasts: Cairo International Art District is back.<\/strong> Art D\u2019\u00c9gypte\u2019s special production<\/a> brings a diverse lineup of artists across restored heritage venues in Downtown Cairo. CIAD is open access to the public at Kodak Passageway until Sunday, 2 November and at the Shourbagy Building until Sunday, 16 November, with only Mondays off. <\/p>\n

\n

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

Paying homage to the legendary Lebanese composer Ziad Rahbani, the Cairo Jazz <\/strong>Festival <\/strong>is wrapping up with a tribute concert<\/a> at AUC Tahrir on Friday, 7 November. In an orchestra led by Wagdy El Fiwy, artists Hazem Shaheen, Hany Adel, Rana Haggag, Nouran Abutaleb, and Alya Nada will be performing a powerful blend of symphonic arrangements with Rahbani\u2019s timeless music. You can secure your spot on Ticketsmarch\u00e9<\/a>. <\/p>\n

Saad<\/strong> ElOud is bringing authentic Egyptian vibes to Theatro Arkan<\/strong> on Friday, 7 November. Expect a night<\/a> of soulful oriental music with the singer and oud player and his orchestra. Tickets are available on Ticketsmarch\u00e9<\/a>. <\/p>\n

This year\u2019s Cairo Comix Festival is celebrating a century of Egyptian comics.<\/strong> Running from Friday, 7 November to Sunday, 9 November, the festival<\/a> is bringing its comic flair to Zamalek\u2019s Mahmoud Mokhtar Museum with a packed program of immersive gallery events, book talks and signings, workshops, and a comic souk. Entrance is at no charge. <\/p>\n","protected":false},"excerpt":{"rendered":"

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Ahead of the museum\u2019s official (and full) opening on 3 July, the paper noted\u2026","rel":"","context":"In "EGYPT IN THE NEWS"","block_context":{"text":"EGYPT IN THE NEWS","link":"https:\/\/enterpriseam.com\/egypt\/category\/egypt-in-the-news\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2025\/4\/1083.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":669795,"url":"https:\/\/enterpriseam.com\/egypt\/2025\/08\/08\/opening-date-for-grand-egyptian-museum-set-for-1-november\/","url_meta":{"origin":674620,"position":2},"title":"Opening date for Grand Egyptian Museum set for 1 November","author":"enterpriseam admin","date":"8 August 2025","format":false,"excerpt":"Good morning, friends, and welcome to the weekend. With last weekend\u2019s hotter-than-ever weather behind us, we can finally get out there and enjoy the summer sun. As the heat rises, so do our cravings for all things cool. In this week\u2019s edition of The Enterprise Guide, we\u2019re sharing our favorite\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\/2024\/10\/1280.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":628487,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/05\/06\/grand-egyptian-museum-to-be-completed-in-december-says-minister\/","url_meta":{"origin":674620,"position":3},"title":"Grand Egyptian museum to be completed in December, says Minister","author":"enterpriseam admin","date":"6 May 2018","format":false,"excerpt":"The Grand Egyptian Museum (GEM) is set to be completed in December this year, Antiquities Minister Khaled El Enany said yesterday at the fourth International Tutankhamun Conference, Al Mal reports. Check out our tour of the under-construction museum.","rel":"","context":"In "Tourism"","block_context":{"text":"Tourism","link":"https:\/\/enterpriseam.com\/egypt\/category\/data\/tourism\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2018\/5\/2339.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":635594,"url":"https:\/\/enterpriseam.com\/egypt\/2017\/12\/07\/3000-year-old-gate-moved-to-grand-egyptian-museum\/","url_meta":{"origin":674620,"position":4},"title":"3,000-year-old gate moved to Grand Egyptian Museum","author":"enterpriseam admin","date":"7 December 2017","format":false,"excerpt":"The Antiquities Ministry has moved a 3,000-year-old gate from north Cairo to the Grand Egyptian Museum, according to The Associated Press. The Ministry says the gate is made from pink granite and bears royal cartouches referring to Amenemhat I, the first king of the 12th dynasty of ancient Egypt. It\u2026","rel":"","context":"In "Tourism"","block_context":{"text":"Tourism","link":"https:\/\/enterpriseam.com\/egypt\/category\/data\/tourism\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2017\/12\/1429.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":647872,"url":"https:\/\/enterpriseam.com\/egypt\/2017\/05\/22\/king-tuts-funerary-bed-ramses-ii-statue-to-be-transferred-to-grand-egyptian-museum\/","url_meta":{"origin":674620,"position":5},"title":"King Tut\u2019s funerary bed, Ramses II statue to be transferred to Grand Egyptian Museum","author":"enterpriseam admin","date":"22 May 2017","format":false,"excerpt":"King Tutankhamun\u2019s funerary bed will be transferred tomorrow to the Grand Egyptian Museum (GEM), after a team of Egyptian and Japanese team restored the bed at the Egyptian Museum in Tahrir, Al Borsa reports. 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