Egypt, IMF reach staff-level agreement on seventh review

☀️ Good morning, friends, and happy long weekend.

But first, your weekly recap…

🗞️ LAST WEEK IN 3 MINS

The government and the IMF reached a staff-level agreement will unlock

The FRA is putting a compliance gate around NBFIs’ branch expansion.

The government has issued USD 500 mn (JPY 80 bn) in sustainability Samurai bonds in Japan

The first batch of temporarily listed government companies is expected to begin trading in 4Q this year.

The petroleum sector returned to growth for the first time since 1Q 2023/24

The country’s four mobile operators will receive new frequencies starting next month under the USD 3.5 bn spectrum agreement signed earlier this year.

French logistics group Africa Global Logistics submitted an indicative non-binding offer to acquire up to 100% of EGX-listed Egytrans Nosco

🌍 AROUND THE WORLD IN SEVEN DAYS

This week’s headlines were dominated by a US-Iran ceasefire that broke, then didn’t break, then sort-of broke again

The fragile US-Iran truce nearly collapsed this week after Iran struck a Panama-flagged tanker and a container ship in the Strait of Hormuz worst escalation

US President Donald Trump warned on Truth Social that “the Islamic Republic of Iran will no longer exist” if strikes resumed stand down positive talks

IN WASHINGTON- blocked Trump’s attempted removal

IN THE BUSINESS PRESS- spin off NBCUniversal and Sky

MEANWHILE- broke 52k for the first time

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☀️ THE WEATHER THIS WEEKEND

It’s going to be a particularly warm weekend, whether you’re staying in Cairo or heading up north.

🎤 HAPPENING THIS WEEKEND

Summer nights are officially getting their opening act, with Ruby taking the stage at O by Michel Fadel in Marassi tomorrow performance

Waiting for Egypt vs. Australia this Friday? Cocoon Beach TicketsMarché

🎤 HAPPENING NEXT WEEKEND

Hesham Maged is back with another comedy project for your summer comedy fix, this time with his first-ever play, Khayal Mareed, at Theatro Arkan. interactive play TicketsMarché

Calling all comic aficionados: program