House passes bill reorganizing Mostakbal Misr

☀️ Good mo rning, folks, and happy weekend.

But first, your weekly recap…

Parliament gave final approval on Tuesday to the draft law reorganizing Mostakbal Misr following two days of floor debate.

The agency will operate outside standard state administrative frameworks.

The IMF Executive Board is expected to decide on the seventh review of Egypt’s loan program by mid-August.

The EGX is shifting when its main-market index reviews take effect, giving investors more lead time.

AND- The EGX closed 2Q in the green despite a June selloff that ate into two months of gains.

ALSO- Auditors can now review up to five investment funds at a time up from three

LOGISTICS AND ENERGY

The government is set to pay foreign oil firms nearly USD 240 mn a month The move

Danish shipping firm Maersk is bringing back Suez Canal transits on its India-Middle East-US East Coast service.

The New and Urban Communities Authority (Nuca) is offering another round of relief for investors and buyers in new cities

Egypt’s national universities added six foreign academic partnerships the latest in a push to internationalize

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🌍 AROUND THE WORLD IN SEVEN DAYS

This week’s headlines were dominated by the most dangerous stretch of the US-Iran war since the interim truce

The week opened with Iran declaring the Strait of Hormuz closed Oil prices surged

By Tuesday, US President Trump announced a naval blockade on Iranian shipping through Hormuz USD 30 mn per supertanker replacing it

On Thursday, Tehran responded to US strikes by targeting US military bases once again in Jordan, Kuwait, and Bahrain.

Washington is also in talks with Baghdad, Damascus, and Chevron to revive a long-defunct Iraq-Syria oil pipeline to circumvent Hormuz entirely.

IN OTHER NEWS- notable deaths

ALSO- imposed a 25% tariff

CLOSER TO HOME- Houthi-Saudi informal ceasefire

IN THE BUSINESS PRESS- highest investment banking fees Vodafone’s largest shareholder announced it will invest USD 100 bn

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☀️ THE WEATHER THIS WEEKEND

If your weekend plans are outdoors-first, plan accordingly.

🎤 HAPPENING THIS WEEK

Tamer Ashour is set to make his Sahel debut tonight at Cocoon Beach in Sidi Abdel Rahman performance TicketsMarché

Upcoming Syrian singer Al Shami and Lebanese singer Mohamed Fadl Shaker join the Tiatro Romano festival lineup concert TicketsMarché

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 TicketsMarche

Standup comedian Ahmed Hassan gets his first-ever comedy special at Teatro 90 show TicketsMarché

Marwan Pablo and Lege-Cy are taking their unmistakable flow to the North Coast. evening TicketsMarché

Cairo Opera House’s Summer Festival for Music and Singing is back, and kicking it off is a live performance by Ali El Haggar Tazkarti