Inflation was up 14.9% in July

☀️ Good morning, friends, and happy weekend.

Elsewhere in today’s issue:

But first, your weekly recap…

🗞️ LAST WEEK IN 3 MINS

Egypt’s annual urban inflation sped up to 14.9% in July, its first acceleration since March

The National Telecom Regulatory Authority (NTRA) has referred Egypt’s four telecom operators to the public prosecutor

The government has locked in its industrial land pricing and allocation roadmap through June 2027

The Financial Regulatory Authority loosened the foreign-currency financing rules it introduced last year

E-finance will pay as much as EGP 4.8 bn for full ownership of MSME lender Tamweely Financial Services bourse filing earlier this week

The Awqaf Authority is putting a 41k-sqm plot at the former Rawd El Farag market site in Cairo up for development through a private-sector partnership.

AND- Qatari Diar launched the first phase of its USD 29.7 bn Alam El Roum development

Fund managers can soon launch hedge funds in Egypt for the first time

The Oil Ministry is lining up EGP 257.7 bn in investment to expand extraction activities over the coming period

AND- Norwegian renewable energy developer Scatec brought the rest of its 1.1 GW Obelisk solar-and-battery project in Nagaa Hammadi fully online.

The government is preparing to issue tax-backed sukuk for the first time

AND- The gov’t is also preparing to launch a USD-denominated investment fund for Egyptians abroad next year

Making It is an hour where the CEOs, founders, investors, and policymakers shaping our region show their work and talk about what’s next.

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🌍 AROUND THE WORLD IN SEVEN DAYS

This week’s headlines were dominated by a US-Iran stand-off stuck in diplomatic quicksand

Negotiations over the Strait of Hormuz went nowhere this week. ending the naval blockade Adnoc carrier was attacked counter-demanded afford to wait

Pakistan’s defense minister said Wednesday that things are shaping up in favor of peace boarded a catering truck

ELSEWHERE IN THE REGION- claimed a drone strike sentenced Bashar Al Assad to death rejected a US-backed framework

IN SOUTH AMERICA- 7.4-magnitude tremor

IN THE BUSINESS PRESS- ended Warren Buffett’s three-year selling streak USD 500 bn for AI infrastructure jumped 16-fold Ice Silk Road

ALSO- 1 mn people were evacuated

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☀️ THE WEATHER THIS WEEKEND

This weekend brings another spell of hot weather in Cairo

🎤 HAPPENING THIS WEEKEND

Number 1 is heading to Sahel. night TicketsMarché

It’s a star-studded Friday on the North Coast as masked sensation Tul8te heads to Sahel tonight as part of his ongoing world tour. perform Tellr

Comedy group The High Five is heeding their fans’ calls and heading to New Cairo for the first time tonight In & Out Standup Comedy Show TicketsMarché

If you’re just settling into Sahel, the Tiatro Romano festival is right there with you as it continues its star-studded summer run. night TicketsMarché

🎤 HAPPENING NEXT WEEK

Beloved composer and pianist Omar Khairat is taking over the Great Hall at Bibliotheca Alexandrina as part of the library’s International Summer Festival. evening website

Jordanian indie band Autostrad take the stage at CJC 610 on Wednesday, 19 August night TicketsMarché

Clear your calendar for Thursday, 20 August, because the legendary Hakim is heading to Sahel concert TicketsMarché