{"id":689148,"date":"2026-03-19T00:00:00","date_gmt":"2026-03-19T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2026\/03\/19\/what-to-do-where-to-go-and-how-to-spend-your-eid-plus-everything-you-missed-in-the-press\/"},"modified":"2026-03-19T00:00:00","modified_gmt":"2026-03-19T00:00:00","slug":"what-to-do-where-to-go-and-how-to-spend-your-eid-plus-everything-you-missed-in-the-press","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2026\/03\/19\/what-to-do-where-to-go-and-how-to-spend-your-eid-plus-everything-you-missed-in-the-press\/","title":{"rendered":"What to do, where to go, and how to spend your Eid \u2014 plus everything you missed in the press"},"content":{"rendered":"

\ud83c\udf89 Good morning, friends, and Eid Mubarak to you all. <\/strong>It\u2019s been a long month, but we finally have a few much-deserved days in our grasp to unwind, relax, and recharge before easing back into post-holiday work mode.<\/p>\n

Whether you\u2019re heading to the Red Sea or moving on up North for the long weekend, we hope you make the most of your holiday. <\/strong>For those staying in Cairo, look forward to calmer-than-usual streets, slower mornings, and packed-to-the-brim malls as the Cairenes sticking it out in the capital flock to catch up on films, food, and fun.<\/p>\n

Today\u2019s issue is all about Eid \u2014 its history, its traditions, and the potential business windows the season opens up.<\/strong> We\u2019re taking a look at the history of kahk and what the Egyptian cookie can teach us about product sustainability, how Egypt\u2019s digital transformation is changing the way Eidiyas are given, and much more.<\/p>\n

But first, Eid or not<\/strong>, let\u2019s take a look at the week\u2019s top headlines.<\/p>\n

\ud83d\uddde\ufe0f LAST WEEK IN 3 MINS-<\/p>\n

This week, the news cycle didn\u2019t seem as enthusiastic about the Eid break as we were<\/strong>, showing no signs of slowing down \u2014 here\u2019s what you might have missed:<\/p>\n

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

#1- Finance Minister Ahmed Kouchouk is <\/strong>building a rainy-day buffer<\/a><\/strong> as he prepares the upcoming state budget<\/strong>, signaling a hard pivot toward fiscal preservation over expansion.<\/p>\n

AND-<\/strong> FinMin aims to bring Egypt\u2019s debt-to-GDP ratio down to a sustainable 71-73% <\/strong>by the end of FY 2028-29<\/a><\/strong> and lower its gross financing needs to 9-11% of GDP. <\/p>\n

#2- The government is mulling increasing its public sector wage budget past EGP 700 bn for the first time<\/strong>, coming in at around EGP 750 bn<\/a> in the next fiscal year, versus EGP 679.1 bn in the current fiscal year.<\/p>\n

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

FinMin is set to <\/strong>waive all back taxes<\/a><\/strong> on unregistered properties<\/strong> or those missing from tax records in a major \u201cgoodwill\u201d bid to expand the tax base through voluntary compliance.<\/p>\n

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

Egypt is positioning itself as a <\/strong>key gateway in global trade<\/a><\/strong> amid all the disruptions<\/strong>, with some of its ports witnessing a notable uptick in activity as more shipments get rerouted to avoid the now-closed Strait of Hormuz.<\/p>\n

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

The Industry Ministry is rolling out a revamped, more realistic playbook<\/strong> to get local auto manufacturing back in the fast lane<\/a>, targeting 100k vehicles annually with 60% local content.<\/p>\n

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

#1- Foreign investors <\/strong>halted the retreat<\/a><\/strong> from Egypt\u2019s debt market this week<\/strong>, helping the Finance Ministry cover its funding needs without incurring prohibitive borrowing costs.<\/p>\n

#2- The Finance Ministry will <\/strong>open subscriptions<\/a><\/strong> for a new tranche of its recently launched Citizen Bonds next week<\/strong>, with the issuance scheduled for 15 April.<\/p>\n

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

The government will finalize a timeline to <\/strong>exit or IPO at least 20 state-owned enterprises<\/a><\/strong> immediately after the Eid El Fitr break.<\/strong> The goal is to generate USD 3-4 bn in immediate inflows by year-end.<\/p>\n

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\ud83c\udf0d AROUND THE WORLD IN SEVEN DAYS- <\/p>\n

<\/p>\n

It was another oil-dominated week in the press<\/strong>, with the regional war still showing no signs of ending, and the vital Strait of Hormuz remaining blocked. <\/p>\n

The biggest news this week topped headlines on Tuesday<\/strong> as Israeli Defence Minister Israel Katz released a statement<\/a> that Iran\u2019s security chief, Ali Larijani, and the commander of Iran\u2019s Basij forces, Gholamreza Soleimani, had both been killed in overnight airstrikes, marking the first high-profile Iranian officials to be killed since Ali Khamenei\u2019s death over two weeks ago. <\/p>\n

The news was followed by another statement from Katz on Wednesday afternoon<\/strong> that Iran\u2019s Intelligence Minister Esmail Khatib was also killed<\/a> in an overnight strike. Katz added in his statement that Israeli Prime Minister Benjamin Netanyahu had authorized the military to assassinate any senior Iranian official without the need for additional approval.<\/p>\n

Oil prices continued their surge with global supply majorly disrupted.<\/strong> Brent reached a high<\/a> of USD 105 per barrel on Monday, while WTI climbed to nearly USD 100 per barrel. The release of the IEA emergency oil stockpile showed little impact on the market, with crude prices having jumped more than 17%<\/a> since the emergency release. Both Brent and WTI have witnessed 40% spikes just this month. <\/p>\n

On Sunday, US President Donald Trump <\/strong>threatened more strikes<\/a><\/strong> on Iran\u2019s Kharg Island oil export hub<\/strong>, while Israel continued its strikes across the region and Iran retaliated with strikes on the UAE\u2019s energy infrastructure. Over the week, Trump called on allies<\/a> to assist in reopening the Strait of Hormuz in light of the persistent disruptions to the global oil supply \u2014 his calls were rejected by most, including Europe. <\/p>\n

Making business headlines:<\/strong> Meta revealed plans<\/a> for another sweeping layoff that could affect more than 20% of its workforce. In the world of AI, tech giant Nvidia is looking to roll out<\/a> a new chip specially geared to speed up AI responses in what could be a pivot from its usual one-size-fits-all approach to chipmaking. <\/p>\n

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

It looks like we\u2019re in for some rocky weather this Eid.<\/strong> Temperatures will be on the lower end of the spectrum, with the weekend kicking off at a high of 23\u00b0C and a low of 13\u00b0C today. It\u2019ll gradually cool down over the coming days, reaching a low of 12\u00b0C by Monday. We might also be in for some wind and dust, so stay on the lookout.<\/p>\n

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\ud83c\udf8a YOUR GUIDE<\/strong>S TO EID-<\/p>\n

Has your Eid long weekend gone unplanned so far?<\/strong> Fret not, ladies and gentlemen, as we have quite a few ideas on how you could still turn that around. In no particular order, here's every guide to Eid El Fitr we have for you:<\/p>\n