All eyes will be on the EGX for the next several days as Fawry gears up for its IPO, which would be the first since Sarwa Capital debuted on the exchange last October. Fawry’s initial public offering is expected to act as a bellwether for the equity raising climate in Egypt, particularly after last year’s emerging markets selloff and Sarwa Capital’s rocky IPO led several other planned IPOs and secondary listings to be put on ice. Chief among those who had postponed their offerings were companies in the state-owned privatization program, which is expected to see its first IPOs in September. We have more on this in this morning’s Speed Round, below.

Meanwhile, British Airways’ flight suspension is still driving the conversation on the nation’s talk shows and the foreign press alike. We have the latest in Last Night’s Talk Shows and Speed Round, below.

MENA skies are getting increasingly complicated for airlines: The decision by British Airways and Lufthansa to suspend flights served as an additional reminder for the increasingly complicated situation faced by airlines in the MENA region. Bloomberg has put together several flight maps demonstrating the long detours airlines take in order to navigate conflict and no-fly zones.

Fed gives markets mixed messages on anticipated rate cuts: The Federal Reserve Bank of New York has clarified remarks made by its president, John Williams, after he gave a speech that fueled speculation that the Fed could cut rates by more than 25 bps when it meets later this month. Expectations for a 50 bps cut increased after Williams likened pre-emptive easing to a vaccination. The bank later issued a statement warning against reading too much into his words. The FT has more.

Emerging markets may be the winners from deglobalization: Emerging markets stand to benefit from deglobalization as China’s large, single-language consumer economy “pull [many EMs] into its growth orbit,” predicts the FT’s Rana Faroohar. EM equities, bonds, and commodities will all see increased demand from the growth of the new developing-world middle class, she predicts.

The losers? Globalized US-led tech stocks will no longer drive growth as cross-border trade falls and supply chains become more localized. Demand and profits will plummet, Faroohar says.

Saudi Arabia: a brave new world for working women? As Saudi Arabia seeks to boost domestic employment and establish a workforce that is 30% comprised of women by 2030, officials are eager to talk up reforms that they claim remove impediments to female employment. But shaking off long-established norms in one of the most conservative countries in the world doesn’t happen overnight, writes Ruth Michaelson in a long-read for the Guardian.

Is 5G technology all it’s hyped up to be? Yes and no, says the Wall Street Journal reporter who conducted 120 tests on a 5G device in the US. It’s faster than a speeding bullet, hitting a download speed of 1,800 megabits per second on one network in Denver (52 times the average 4G network download speed in the US). But coverage remains extremely limited, the extra speed doesn’t really affect anything besides downloading, and 5G phones are so prone to overheating that demo carriers have taken to cooling them down with ice packs.

Get your geek on: The 2019 San Diego Comic Con, which ran from 18-21 July, unveiled a whole host of movie and TV-series trailers to keep us on our toes. Some highlights: 10 new Marvel films for 2020 and 2021 (including Black Widow and Doctor Strange 2), Rick and Morty Season 4, an HBO adaptation of His Dark Materials (based on the brilliant Phillip Pullman trilogy), and Top Gun: Maverick (with Tom Cruise looking a little weathered, but still giving all the attitude of 30 years ago).

PSA- Enterprise is off tomorrow: With Revolution Day upon us, we’re taking our cue from the EGX and taking a day off. We’ll be back in your inboxes at the usual time on Wednesday morning.