EGX says goodbye to Mohamed Omran: As of yesterday noon, Mohamed Omran is no longer chairman of the EGX following a four-year run as head of the bourse. Omran said his goodbyes at a presser yesterday afternoon, Al Ahram reports. The newly constituted board of directors took their seats yesterday, helmed by the recently appointed vice chairman Mohsen Adel, who was reportedly appointed as acting chairman until a new one is named, according to Youm7. We have more on Omran’s comments in the Speed Round.

With the new bread subsidy system going into effect tomorrow, more systemic changes may be on the horizon. Supply Minister Ali El Moselhy hinted at the possibility of making income levels the determining factor in setting daily bread allocations (we have more in Enterprise+: Last Night’s Talk Shows). Meanwhile, bakers are holding an “emergency meeting” today to discuss the phase-out of the subsidies, and millers are complaining the ministry has yet to settle on a price for wheat bran, Al Borsa reports.

On a related note: Supply Minister Ali El Moselhy is scheduled to hold a presser on Thursday to discuss the changes to the smartcard and bread points system, Ahram Gate reports.

There’s no word on when Foreign Minister Sameh Shoukry will head to Khartoum.The visit had been expected before the end of July. The ban on imports from Egypt is on the agenda.

Your (mobile) internet stinks because it may soon get faster (and the same cannot be said for your ADSL): It would appear that the poor mobile internet service about which many have recently complained — with the bellowing reaching a crescendo yesterday — may be because of the redistribution of frequencies going on ahead of the official 4G launch, unnamed Vodafone officials tell Al Mal.

Another good quarter in the US of A: “America’s largest companies are on pace to post two consecutive quarters of double-digit profit growth for the first time since 2011, helped by years of cost-cutting, a weaker USD and stronger consumer spending,” the Wall Street Journal notes. Too bad we’re looking at another lost quarter of chopped, ground-up margins covered in mystery sauce here at home: With certain exceptions such as export-led SWDY and ORWE, we’re thinking corporate Egypt’s bottom line will need until next year to start turning the corner, particularly after that last rate hike, “temporary” though it may be.

Speaking of earnings: Apple is reporting tomorrow, and “Wall Street is already braced for delays in the launch of the next iPhone … [as] reports from Apple’s supply chain have caused concern about a short-term squeeze on sales and could leave Apple vulnerable to renewed competition from Samsung,” the Financial Times reports. The WSJ’s Christopher Mims, meanwhile, thinks it is “not crazy” that the next iPhone could ring in at about USD 1,400 at the register.

If you, like us, are fans of both active fund management and of Mohamed El-Erian, it’shard not to smile at this one: “Pimco has staged a ‘remarkable turnaround’ to become the world’s best-selling active mutual fund manager, after investors pulled 100s of bns of USD from the investment house following the departure of bond king Bill Gross in 2014.” Pimco has pulled in nearly USD 50 bn in the six months to 30 June, according to the Financial Times, making the actively managed firm the third-largest asset manager behind BlackRock and Vanguard. Hit the salmon-colored paper for the rest. And while you’re on the interwebs, this short piece from the WSJ about publicly traded fund managers being hit after confessing they will need to invest in future growth (shocking, we know) is worth a skim.

You have never had it better: The world has never been a better place, and anyone who wants to have lived in a past century is simply nuts, The Guardian suggests. “The headlines have never been worse … but humankind has never had it so good – and only our pessimism is holding us back.” So forget about climate change, global terrorism, Donald Trump, the nutter in Pyongyang getting nukes, and the rising tide of celebrity deaths, the newspaper says: We’re living in something like a golden age of humanity, according to a small group of “New Optimists” that includes prominent journalists, academics and think-tank types. The full story is certainly worth checking out.