{"id":675083,"date":"2025-11-07T00:00:00","date_gmt":"2025-11-07T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2025\/11\/07\/the-grand-egyptian-museum-opens-its-doors\/"},"modified":"2025-11-07T00:00:00","modified_gmt":"2025-11-07T00:00:00","slug":"the-grand-egyptian-museum-opens-its-doors","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2025\/11\/07\/the-grand-egyptian-museum-opens-its-doors\/","title":{"rendered":"The Grand Egyptian Museum opens its doors"},"content":{"rendered":"

Good morning, friends, and welcome to the weekend.<\/strong> We\u2019re looking forward to milder weather as we hurtle towards the new year.<\/p>\n

What do you do when you feel like treating yourself without skimping out?<\/strong> Where can you click \u2018add to cart\u2019 and not regret it? And what subscriptions among the plethora of monthly obligations are actually worth keeping? In this week\u2019s edition of The Enterprise Guide, we\u2019re taking a look at ways to live the champagne life on a lemonade budget without waiting for Black Friday reductions. <\/p>\n

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

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

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

Last Saturday, Egypt inaugurated the Grand Egyptian Museum \u2014 the world\u2019s largest <\/strong>museum for a single civilization <\/strong>\u2014 with a grand celebration, marking the end of two decades of work and anticipation<\/a>. Lasers, fireworks, and drones took over the sky while an orchestra performed and sopranos took the stage with tens of world leaders watching. In the midst of it all, President Abdel Fattah El Sisi delivered his opening speech, describing the museum as \u201ca new chapter in the story of this ancient nation's present and future.\u201d<\/p>\n

DON\u2019T MISS our special series Unveiling the GEM<\/strong>, where we tell the story of the museum from its earliest conception to its grand realization.<\/p>\n

Missed the first two issues of the series? Catch up here:<\/strong> ( The backstory<\/a> | Opening Night<\/a> )<\/p>\n

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Introducing EnterpriseAM MENA <> India<\/p>\n

The flow of capital, talent, and trade between MENA and the Indian subcontinent is one of the most important economic stories in the world. And we\u2019re telling it the way only we can.<\/p>\n

EnterpriseAM MENA <> India is our new briefing, published every Monday, Wednesday, and Friday, to track the transactions, trends, and market moves connecting these two dynamic regions.<\/p>\n

If you\u2019re investing, trading, or scouting for your next big move in MENA or India, EnterpriseAM MENA <> India delivers the strategic intelligence you need \u2014 connecting insights emerging from Arabian Sea to Mediterranean to guide your decisions.<\/p>\n

The first edition lands this Monday. Subscribe by tapping <\/strong>here<\/a><\/strong>. <\/strong><\/p>\n

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

#1- Qatar will invest USD 29.7 bn to develop its much anticipated North Coast project<\/strong> through an agreement between the Qatar Investment Authority-owned Qatari Diar and New Urban Communities Authority (NUCA), a government source told EnterpriseAM<\/a>. The project along the Mediterranean in the Alam El Roum area will reportedly include upscale residential areas, marinas, touristic amenities, and even schools, universities, and government buildings.<\/p>\n

#2- Al Mansour Automotive <\/strong>broke ground<\/a><\/strong> on its USD 150 mn MG manufacturing plant <\/strong>in Sixth of October<\/strong>, according to a statement from the Industry Ministry. The 55k sqm factory, developed in partnership with China\u2019s SAIC, will manufacture eco-friendly vehicles.<\/p>\n

ALSO- Al Mansour Automotive\u2019s MAC Filters Manufacturing Company inaugurated yesterday its <\/strong>USD 11 mn vehicle and industrial filters factory <\/strong>in the<\/strong> 10th of Ramadan City<\/strong>. The new facility will have an annual production capacity of 15 mn filters for various types of vehicles and industrial uses. The company aims to export 35% of total production by 2027 to external markets, MAC Filters Manufacturing CEO Tarek Atta said. <\/p>\n

#3- Fresh PPPs up for grabs:<\/strong> The Madbouly government is preparing an integrated package of projects worth EGP 31 bn to be set up through public-private partnerships (PPP), Finance Ministry\u2019s public-private partnership unit head Atter Hannoura told EnterpriseAM<\/a>. This includes projects covering water desalination, electricity, sanitation, transformer stations, and recycling.<\/p>\n

#4- South Korean textile company <\/strong>Samil Solution<\/a><\/strong> will establish a USD 4.5 mn <\/strong>ready-made garments factory in the Qantara West Industrial Zone<\/strong>, aiming to create around 1k jobs, according to a statement<\/a> by the Suez Canal Economic Zone. The new factory will produce knit and woven ready-made garments with an annual production capacity of 8.8 mn pieces, all of which will be exported to international markets.<\/p>\n

#5-<\/strong> Leoni Egypt<\/a><\/strong> will establish an industrial complex to manufacture electrical wiring <\/strong>harnesses and cables in Roubiki City<\/strong>, in partnership with the Cairo for Investment and Development Company, according to a statement<\/a> by the Industry Ministry. The 91k sqm facility will provide wiring to both conventional and electric vehicles, serving as a regional hub for the manufacturing and export of electrical wiring systems to major European and global car manufacturers.<\/p>\n

REAL ESTATE-<\/strong><\/p>\n

Emaar Properties Egyptian arm Emaar Misr is <\/strong>preparing to launch<\/a><\/strong> yet another big <\/strong>ticket development<\/strong>, this time with Saudi Arabia\u2019s Dallah Albaraka under a strategic partnership, according to a disclosure (pdf) from the EGX30-listed company. The project with Dallah Albaraka\u2019s Samla and Alam Al Roum for Urban Development will require EGP 78 bn \u2014 equivalent to around USD 1.7 bn at the current exchange rate \u2014 in investments and is expected to bring in returns totaling EGP 117 bn.<\/p>\n

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

#1- The country\u2019s budget deficit <\/strong>widened<\/a><\/strong> to 2.5% of GDP during the first quarter of the <\/strong>current fiscal year<\/strong>, up from 2.1% during the same period last year, according to a Finance Ministry report seen by EnterpriseAM.<\/p>\n

#2- Egypt\u2019s non-oil private sector <\/strong>contracted at a slower rate in October<\/a><\/strong>, in a sign of a potential recovery after a long period in the red territory, according to S&P Global\u2019s latest Purchasing Managers Index report (pdf). The country\u2019s headline figure improved 0.4 points to 49.2 from the month before.<\/p>\n

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

The government is working on a new natural gas pricing formula for industry<\/strong>, starting with energy-intensive sectors, three government sources told EnterpriseAM<\/a>. The plan aims to gradually transition to a freemarket price aligned with global benchmarks as part of efforts to establish a liberalized natural gas market, attract foreign investment, and strengthen the competitiveness of local products by properly pricing key inputs, including energy.<\/p>\n

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

#1- Net foreign assets (NFAs) in Egypt\u2019s banking sector rebounded in September<\/strong>, reaching<\/a> USD 20.8 bn, rising more than 16% (USD 2.9 bn) from August, which saw our NFA shrinking for the first time in three months, according to data from the Central Bank of Egypt. On an annual basis, our banking sector almost doubled its net foreign assets, from USD 10.3 bn in September 2024.<\/p>\n

#2- The country\u2019s financial stability index rose to 0.48 in 1Q 2025 from 0.38 a year <\/strong>earlier<\/strong>, supported by a stronger banking sector, more resilient capital markets, and an improved global economic environment, according to the Central Bank of Egypt\u2019s latest financial stability report<\/a>.<\/p>\n

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

The country\u2019s first-ever local sukuk issuance was almost <\/strong>5x oversubscribed<\/a><\/strong>, attracting an order book of EGP 14.9 bn, upon the closure of the subscription period on Monday, a senior government official told EnterpriseAM. The Finance Ministry received 63 offers from banks participating in the auction, but only accepted ten, covering its EGP 3 bn target.<\/p>\n

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

The EGX30 <\/strong>climbed 4.4% in October<\/a><\/strong> to close at 38.3k points<\/strong>, according to the EGX\u2019s monthly report (pdf). The gauge traded between a high of 38.4k and a low of 36.7k during the month, underperforming the EGX33 Shariah Index which advanced 7.3% over the same period. Total market capitalization rose 7.1% to hit EGP 2.8 tn.<\/p>\n

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

Eva Pharma has officially entered the oncology scene:<\/strong> Local pharma player Eva Pharma has started producing<\/a> immunotherapy hematology and oncology meds with an annual capacity of 22 mn packs \u2014 more than enough to meet domestic demand and enable Egypt to serve as a regional hub for cancer drug exports, Managing Director Riad Armanious said at a presser attended by EnterpriseAM.<\/p>\n

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

<\/p>\n

Zohran Mamdan has become New York City\u2019s <\/strong>youngest mayor<\/a><\/strong> in over a century<\/strong> \u2014 and the first Muslim to hold the office. Mamdani secured over a mn votes, the first to do so since 1969. \u201cTonight we have spoken in a clear voice, hope is alive,\u201d the mayor-elect said in his victory speech amidst a roar of applause. Directing his speech to Trump, Mamdani added: \u201cTo get to any of us, you will have to get through all of us.\u201d (CNN<\/a> | BBC<\/a> | Reuters<\/a> | Guardian<\/a> | Financial Times<\/a> | Associated Press<\/a>)<\/p>\n

ALSO- Former US Vice President Dick Cheney <\/strong>died<\/a><\/strong> at the age of 84.<\/strong> Cheney served as the 46th vice president alongside former US President George W. Bush, and was a central figure in Bush\u2019s \u201cwar on terror\u201d following 9\/11, having advocated for the war on Iraq. (CNN<\/a> | BBC<\/a>) <\/p>\n

IN THE BUSINESS PRESS-<\/strong> US multinational coffee chain Starbucks is set to give up<\/a>control<\/a> of its operations in China to Chinese private equity firm Boyu Capital in a USD 4 bn buyout. The agreement would see both companies form a joint venture in which Boyu Capital holds a 60% majority stake. The news follows a steep decline in Starbucks\u2019 market share in China, which fell to 14% in 2024, down from 34% in 2019. Boyu Capital is currently in talks for a loan to facilitate the acquisition. (CNN<\/a> | Bloomberg<\/a> | Associated Press<\/a> | BBC<\/a>)<\/p>\n

CLOSER TO HOME- <\/strong>Israel threatened to increase its attacks against Hezbollah in Lebanon. US special envoy Tom Barrack warned that time is running out for Lebanon\u2019s government to enforce the ceasefire deal struck last year, which requires Beirut to disarm Hezbollah, something both Israel and Washington say the group is actively refusing. (Bloomberg<\/a> | New York Times<\/a> | Guardian<\/a>)<\/p>\n

ALSO- <\/strong>Israel received<\/a> the bodies of three deceased hostages this week after Hamas recovered their remains from a tunnel in southern Gaza. With this return, 20 of the 28 hostages have now been handed over to Israel, leaving eight bodies still in Gaza. (Reuters<\/a> | BBC<\/a> | Guardian<\/a>)<\/p>\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

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

We\u2019re in for a warm weekend in the capital<\/strong>, with temperatures set to peak at 29-30\u00b0C over the weekend, before cooling down to 20\u00b0C at night, according to our favorite weather app.<\/p>\n

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

Theatro Arkan is setting us up for a laughing fit this month with its new Comedy Gang <\/strong>Festival at The Golden Theatre.<\/strong> Running two nights a week, starting on Thursday, 6 November and ending on Saturday, 29 November, the festival<\/a> brings together 56 of our favorite standup comedians with plenty of surprises and special guests in store. You can grab your tickets on Ticketsmarch\u00e9<\/a>. <\/p>\n

Saad ElOud is bringing authentic Egyptian vibes to Theatro Arkan<\/strong> tonight. 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

The Beatles\u2019 tunes are coming to Zamalek\u2019s Cairo Opera House thanks to local tribute <\/strong>band Glass Onion, happening tonight.<\/strong> The band<\/a> will be performing alongside the Isis String Orchestra led by Maestro Khaled Saleh, bringing the Beatles\u2019 timeless classics to life. Tickets are available on Tazkarti<\/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

Maadi\u2019s Saad Studio is hosting a Posters for Palestine program with visual artist <\/strong>Maram Alrefaei. <\/strong>The design workshop<\/a> will take place in two rounds: the offline round on Friday, 7 November, Saturday, 8 November, Friday, 14 November, and Saturday, 15 November and the online round on Tuesday, 18 November, Wednesday, 19 November, Tuesday, 25 November, and Wednesday, 26 November. This is your chance to show your creativity and your solidarity with the cause. Book your spot through a form posted in their Instagram bio.<\/p>\n

The<\/strong> TechUp Women Summit returns once again on Saturday, 8 November at the Greek <\/strong>Campus in Downtown.<\/strong> The event<\/a> will bring together 3k women in tech to listen to more than 150 speakers and meet with representatives from over 80 tech companies from across Egypt, the region, and the globe. <\/p>\n

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

Carerha Summit returns to empower women <\/strong>on Saturday, 15 November, taking place at Sheikh Zayed\u2019s Majarrah. Under the theme Herizon<\/a>, this year\u2019s summit celebrates women\u2019s professional journeys through an exciting lineup of panels, workshops, and mentorship and career-coaching sessions. Secure your spot through Ticketsmarch\u00e9<\/a>. <\/p>\n

This is for lovers of classic music:<\/strong> Amr Selim is coming to Theatro Arkan for an evening of his most magical compositions on Saturday, 15 November. Don\u2019t miss out on the chance to experience<\/a> the maestro\u2019s brilliance live. Tickets are available on Ticketsmarch\u00e9<\/a>. <\/p>\n

Shake<\/strong> off the week\u2019s stress with some laughter at Ali Quandil\u2019s interactive comedy <\/strong>show<\/a><\/strong> on Friday, 14 November at Theatro Arkan. Expect unscripted jokes and funny surprises \u2014 you can head to Ticketsmarch\u00e9<\/a> for tickets. <\/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 the Shourbagy Building until Sunday, 16 November, with only Mondays off. <\/p>\n","protected":false},"excerpt":{"rendered":"

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