Cairo’s best tailors + a lesser known WWII story

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THE WEEK IN REVIEW

CBE keeps interest rates on hold + Arab League summit kicks off today

Good morning, lovely people, and happy FRIDAY. We’re still getting used to the drought of national holidays after the flurry of shortened workweeks we got over the past month — we hope you’re surviving well. We have about a month and a half before our next big holiday (Eid El Adha), and we’re already counting the days.

We also have a deluge of weddings and conferences coming up over the next month. If you are like us, we know the pain of trying to find a suit that perfectly fits the venue and event you have in your pipeline.

Which is why we’ve curated an Enterprise Guide this week for tailors all over Cairo to suit your different needs and budgets — you can find it below.

Enterprise Weekend comes out each Friday at 9:00am CLT. We’ll be back on Sunday at 6am with EnterpriseAM. Until then: Enjoy the weekend.

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LAST WEEK IN 3 MINS-

It was another busy newsweek as the government continues to accelerate progress on its state privatization program and as it looks to drum up more investments and FDI with fresh incentives. But first…

ON THE MACRO FRONT-

#1- The Central Bank of Egypt left interest rates unchanged (pdf)at its monetary policy meeting yesterday, in line with expectations.Seven of 10 people we’ve spoken with had expected the central bank to keep rates where they are through to next month on the back of a minor decrease in April’s inflation figures.

#2- The EBRD downgraded Egypt’s growth forecast to 4.0% in the current fiscal year due to continued economic headwinds caused by stubbornly high inflation and a currency crisis. The Bank's assessment marked a 0.7% downward revision from its previous forecast published three months ago.

#3-Fitch Ratings has downgraded the long-term deposit ratings of four Egyptian banks following its lowering of the country’s sovereign rating earlier this month. The National Bank of Egypt (NBE), Banque Misr, Banque du Caire, and CIB all saw their ratings drop from B+ to B “reflecting the sovereign's weaker ability to provide support, particularly in foreign currency.” Fitch kept its outlook for the banks unchanged at negative.

PRIVATIZATION-

#1- The government finally sold a 9.5% stake in Telecom Egypt to institutional investors, raising some EGP 3.75 bn. The sale of some 162.2 mn shares in the state-owned telecom operator was 3.1x oversubscribed. We’re still waiting for word on the institutions who bought shares in the company but we know that only some 9% went to foreign investors.

#2- More could be coming soon: National Investment Bank subsidiary NI Capital is gearing up to sell stakes in seven state-owned companies, two of which should close by June and the remainder before the end of the year. Stakes in this roster of state-owned companies up for grabs include those oil, petrochemicals, and transport.

#3- Agthia put in a bid for Safi: Emirati F&B company Agthia placed its bid for Safi, reportedly joining several other bidders for a stake in the military-owned bottled water company.

#4- Egypt needs lenders’ approvals before selling Siemens power plants: Egypt has reportedly requested permission from German banks to sell shares in the three 4.8 GW Siemens-built power stations to investors. The government earmarked the Beni Suef plant for privatization earlier this year but the financial terms agreed with the project’s backers mean that it will need to get their sign-off before it can start marketing it to investors, sources reportedly said.

ENTERPRISE EXPORTS + FDI FORUM-

We held our inaugural Enterprise Exports + FDI forum last weekwith a stacked roster of panelists who shared their insights into how we can build a strong export-driven economy. Some key lessons from the forum:

#1- Good Egyptian businesses are still attractive to investors: “Economic uncertainty “is a little bit higher” right now, “but this doesn't prevent investors from investing in Egypt. They just need to price it in,” Hossam Abou Moussa, partner at Apis Partners, said during a panel discussion.

#2- But we need to act decisively, and fast: One of the first steps we should take is to select a small number of high performing sectors to heavily invest in, Yassir Zouaoui, partner at McKinsey, said during the opening panel.

#2- And cultivate a friendly environment for exporters and investors: Export subsidies, credit facilities with banks and tax exemptions are among the ways we can help spur exports, according to Oriental Group Chair Yasmine Khamis.

A MORE FRIENDLY ENVIRONMENT COULD BE ON ITS WAY- Prime Minister Moustafa Madbouly last week broke down 22 decisions taken by the Supreme Investment Council during its first meeting, aimed at drumming up more investments and exports from the private sector. The decisions include faster responses to applications for setting up a business, expanding eligibility for the one-stop-shop “golden license,” improving privileges in special economic zones, leveling the playing field between private and state-owned firms, and expediting dispute resolution.

GREEN ENERGY-

Green hydrogen incentives get the greenlight: Ministers have approved a package of incentives — including VAT and income tax breaks — for green hydrogen projects being implemented within five years, in a bid to stimulate Egypt’s nascent green hydrogen industry and increasing FX inflows.

Meanwhile, Infinity Power and Greek infrastructure investor Coupelouzossaid they could jointly produce renewable energy in Egypt that would be sent to Europe via a planned electricity link.

WHAT’S HAPPENING NEXT WEEK-

The 32nd Arab League summit will kick off in Jeddah today, with the Syrian government expected to make an appearance for the first time since the country was barred from the body in 2011 following its violent crackdown on protests at the outset of the Arab Spring. Fighting in Sudan and ongoing conflict between Israeli armed forces and Palestinians are expected to be on the agenda.

The G7 Summit will commence today in Hiroshima where leaders are expected to discuss the ongoing war in Ukraine and the state of the global economy.

The senate will reconvene on Sunday, following an almost two-week-long hiatus.

Oman sultan in town next week: Oman’s Sultan Haitham bin Tarek Qaboos is landing in Egypt on Sunday for an official two-day visit on the invitation of President Abdel Fattah El Sisi, according to the Oman News Agency.

Egypt will host the African Development Bank’s (AfDB) annual meetings in Sharm El Sheikh from Monday 22 May through Friday 26 May. Sustainable development and climate finance will be central themes over the course of the conference.

Check out our full calendar on the web for a comprehensive listing of upcoming news events, national holidays and news triggers.

YOUR MOST CLICKED LINKS-

The 22 decisions the Supreme Council approved at its first meeting to help create a more business-friendly environment got the most number of clicks. (Statement)
IHG’s plans to open two new hotels in Sheikh Zayed in 2026 and 2028 also got a lot of attention. (Statement)
Our breakdown of the government’s spending plans for the green economy in the upcoming fiscal year also got plenty of clicks. (Enterprise)
Visa’s new senior vice president and chief marketing officer for Central and Eastern Europe, Middle East, and Africa (CEMEA) Tarek Abdallah’s LinkedIn also got some love. (LinkedIn)
Israel’s statement of thanks after we brokered a truce between the country and the Islamic Jihad got interest. (Statement)

AROUND THE WORLD IN SEVEN DAYS-

The deadlock in US debt ceiling negotiations continued to make headlines:US President Joe Biden voiced confidence that the US lawmakers will break the deadlock in debt ceiling negotiations and avoid the country plunging into default next month, after cutting a trip short in hopes of finding a breakthrough.

The Turkish election also got plenty of ink: Turkey will hold a runoff vote on 28 May after neither president Recep Tayyip Erdogan or his main opponent, social democrat Kemal Kilicdaroglu, managed to secure more than 50% of the votes and claim victory.

Sudan continued to feature on foreign press’ front pages, as Khartoum saw violence intensify with the Rapid Support Forces (RSF) and Sudanese army continuing to fight for control of the nation’s capital. This comes despite ongoing peace talks in Saudi Arabia that earlier this month saw both sides agree to protect civilians and permit humanitarian aid into the country.

☀️ THE WEATHER THIS WEEKEND- Enjoy the last few pleasantly warm days before a heatwave hits next week. The mercury will rise to a high of 30°C today and 32°C tomorrow, before dropping to overnight lows of 16-19°C, according to our favorite weather app. Temperatures next week will hover around 35-36°C, before peaking at a sweltering 39°C on Wednesday.

Where to get your suits tailored in Egypt

Your ultimate guide for tailored suits in Egypt: With wedding season upon us at full throttle — and conferences continuing to fill up our mid-week schedule — many of us are running out of suits appropriate for the vast array of events that are happening. Whether you’re a groomsman having to abide by an insanely specific dress code, or you’re looking for a formal outfit for a conference, there’s tailors sprawled across Cairo to serve different tastes, styles and budgets.

THE HIGH END-

Orange Square is a household name for suits in Egypt. The brand has been around since 2002, providing both made-to-measure suits and ready-to-wear options for men’s suits. The website also has a build-your-own-suit tool online that lets you conjure up a design for a shirt, pants, or tuxedo live — or, alternately, select ready-to-wear garments. You begin with fabric selection before choosing a fit, a buttoning style, a lapel type and width, number of pockets and their placement etc, to help you visualize the suit you want to tailor.

WHAT TO EXPECT- The hefty price tag starts at EGP 9.5k up to 28k for both ready-to-wear and custom-made suits. Suits also typically take anywhere from 15 to 30 days to be ready. You can pay extra for the express service.

WHERE TO FIND IT- The store’s most famous branch is in Abou el Feda street in Zamalek, but it also has locations in Sheikh Zayed, Heliopolis, and Kattameya.

The designer to the stars:Mr. Tuxedos was established in 2017 and has been growing across the region — with its services now offered in Egypt and Saudi Arabia. The suit-maker dressed celebrities like Mohamed Ramadan and Yasser Galal in their respective Ramadan series this year, and is also a popular destination among grooms looking for a special tuxedo for that once in a lifetime occasion. The brand has earned the Luxury Lifestyle Awards for its stylish, expensive-looking fits.

WHAT TO EXPECT- One of the priciest on this list, a ready-made tuxedo starts at EGP 12k and custom-made ones can cost anywhere from EGP 16k. The brand does not offer express tailoring for personalized designs so make sure you schedule things right by giving the whole feat 20 to 25 days to receive satisfactory service. Its only branch is located on Street 79, in the Industrial Area in New Cairo.

We can’t forgetConcrete — which went on a recent rebrand a few years ago and has since been coming out with exceptionally trendy collections, ranging from suits to formalwear. Established back in 1989, the store offers a su misura service to tailor to your particular body shape, style, fabric preferences and more. It offers both custom-made suits and tuxedos for your special occasions and more casual everyday suits for work or semi-formal occasions.

WHAT TO EXPECT- This one’s another pricey pick, with the price range for a formal suit you can wear at a special occasion starting from around EGP 15k. For that price, the suit will be ready within 21 working days. You can book an appointment online, where you can specify if you prefer the consultation to take place at home, your workplace, or a Concrete store, which you can find at most major shopping malls like Cairo Festival City or Mall of Arabia. You can find a list of all their branches here.

FOR MEN + WOMEN-

El Tarzyhas suit-making — for both men and women — down to a science. The family business — which started three generations ago — aims to create designs that can compete with ready-to-wear clothing, while offering a personalized touch. The suit maker offers a wide range of options: Italian, American, British and velvet suits are but a few designs you can select from.

WHAT TO EXPECT- Prices start from EGP 5.5k and garments take anywhere from 7 to 10 days to be finished. But if you’re in a hurry, you can pay extra for the 1- or 3-day express service.

WHERE TO FIND IT- El Tarzy has both a store with some ready-to-wear options and a workshop for tailoring, located in Mohamed Hussein Heikal in Nasr City. The atelier is open every day from noon to 8:30pm except Sundays.

Tailor Stitch does everything from alterations to custom-made suits and more for men, women, and children. While it typically takes them about two weeks to make your desired garment, you can ask for an express service if time is tight. The store is located in Sheikh Zayed’s Mall of Arabia and can be accessed from the ground floor through gate 5. While price ranges depend on what you’re going for, a custom-made three-piece suit will make a minimum EGP 5k dent in your wallet, while two-piece suits cost at least EGP 4k (both prices are excluding fabric).

ALTERATIONS + MORE-

The go-to for alterations is hands downMr. Tailor, which does everything from shortening pants, gowns, and dresses to adding that extra fabric to a dress that doesn’t quite fit anymore. The best part? It has branches all over the city — we mean, literally everywhere. You can find a list here of their stores complete with addresses and phone numbers. If you don’t feel like going to the branch yourself, you can even call them and they will send you a tailor who will take your measurements, take your garments to the workshop for a few days, before bringing you everything to your liking, ironed and all.

Bonus tip: Mr. Tailor is affiliated with Mr. Cobbler, which can repair, clean, and make over your old shoes and bags.

Having Mohamed Ramadan withdrawals? Watch his latest film + U2’s Bono tells all

? AT THE MOVIES-

Mohamed Ramadan-content lovers going through withdrawals after the conclusion of Gaafar El Omda are in for a treat. Harley (watch, runtime: 02:33) has all the basic elements you’d expect of his typical material, but there were some pretty good plot twists and surprisingly funny moments. The film follows Harley, a motorcycle engineer, trying to make an honest living after suffering a tragedy that he blames on his unlawful lifestyle, a decision that comes as an inconvenience to his former employer. Ramadan is joined on the big screen by Mai Omar, Mahmoud Hemida, May Kassab, and Hosny Sheraton in this action/comedy directed by Mohamed Samir.

The pacing was erratic and the sexism rampant, but it was the unusually explicit visuals that gave us a startle. Even other moviegoers audibly commented on the unprecedented audacity with which Ramadan flaunted his virility this time around. Though if you ignore those three issues, Harley is actually a fun movie with a great soundtrack. Just don’t bring your kids to see it.

WHERE TO WATCH- You can find Harley in most theaters across Egypt, including VOX cinemas, Cairo Festival City, and Mall of Arabia.

Move over, Mario, there’s another Italian saving the world in the Box Office. The Pope’s Exorcist (watch, runtime: 2:42) stars Russell Crowe as Father Gabriele Amorth, a Catholic priest serving as an exorcist for the Diocese of Rome. Based on a real person of the same title, the film follows an encounter with a powerful demon possessing a young American boy, Henry. But Fr. Amorth is not a regular priest — he drinks double espressos, rides a motorbike, and copes with uncomfortable situations using humor. While this is already a refreshing departure from Ye Olde Priests of most horror movies, Fr. Amorth is a notably rational man who puts great stock into science, stating that most of the cases he’s tasked with are simply people who need psychological help.

Don’t go in expecting jumpscares: The film is — refreshingly — not that scary, and focuses more on the mental load that comes with executing a young boy’s exorcism, with Fr. Amorth and his reluctant assistant grappling with their own sins as they try to save the boy. The writers seem to be hoping for a franchise, as Fr. Amorth is informed that he has 199 other similar exorcisms to perform.

WHERE TO WATCH- You can catch The Pope’s Exorcist in most theaters across the country, including VOX Cinema in City Center Almaza and Mall of Egypt.

? FROM THE BOOKSTORE-

Want a glimpse into the mind of a ‘90s icon? Surrender, U2’s Bono’s candid memoir, is a must read. The book’s 40 long chapters walk us through the complicated life of a complex man. The singer tells it all: From the unexpected death of his mother, to critiquing his own temperament and shortcomings as a husband and father, the author does not shy away from sharing with vulnerability and reflecting on both the good and the bad. The book also traces U2’s journey to becoming one of the world’s most popular rock bands, with each of the chapters named after a song by the band.

The singer and activist — whose real name is Paul Hewson — also talks about his youth in Dublin and the political and social realities that shaped his worldview. Beyond his music, and his glamorous friendships, Hewson also tackled less merry topics like his role as co-founder in the organizations ONE and (RED) and his decades-long advocacy for HIV patients. The book, although lengthy, reveals a man who is in love with words, but also true to his own.

WHERE TO BUY IT- You can purchase a copy from any Diwan branch, depending on availability, or add it to your online cart and select a branch from which to pick it up.

? HOT AND FRESH OUT OF THE KITCHEN-

Located in New Cairo’s Garden 8, Freya Brasserie serves international dishes with “an accent of French culture,” according to the venue’s website. The new eatery boasts a pleasant ambiance and interior with feminine touches as an ode to its namesake — the Norse goddess of beauty.

WHAT TO GET- The beef quesadillas made for a delicious starter, as did the stuffed portobello mushrooms. For the main course, we recommend the seafood paella or the chateaubriand if you like sharing your meal with a friend. The chef’s special — a deconstructed chicken lasagne — also got rave reviews from our friends. The menu also has sushi, burgers, and pizzas if you want to switch things up. To satisfy our sweet tooth, we had the tres leches cake, which was perfectly soft and sweet. You can reserve a table online before you head to the restaurant here.

? Per person: EGP 800-1k

? Outdoor seating: Yes

? Alcohol: Yes

? Accessibility friendly: Yes

A spotlight on the secretary who helped Anne Frank hide from the Nazis

A Small Light on what makes us human, through the story of the secretary who helped hide Anne Frank: The new National Geographic miniseries sheds light on the plight of Jews after Germany invaded the Netherlands in 1940. Young secretary Miep Gies takes a big risk and accepts to hide her employer — Otto Frank and his family, including young Anne Frank — from the Nazis. Miep’s empathy opens the door for the journey of a lifetime that is sure to leave you emotional and inspired.

Unlike depictions of the holocaust and war (such as Inglorious Bastards), the series does a lot to make the events feel contemporary and relatable, which is something one of the showrunners told the New York Times the production team wanted to do deliberately in an effort to subvert the typical “sepia-toned” period piece format. The miniseries is slated to be organized into eight episodes, with the intensity building up the closer it comes to the end. The two final episodes will be out on Monday.

WHERE TO WATCH- You can stream the series on Disney+.

Egypt through the lens of its diaspora

The Foreign Local is a podcast about Egypt — through the lens of the Egyptian diaspora. While the speakers we hear mostly grew up abroad, many have decided to return to a “home” that is both familiar and in many ways still foreign. Along with host Monica Gerges, whose Instagram bio states she is “chronicling the chaos of Cairo after 20 years in Canada,” guests share anecdotes of their lives from playing hockey in the streets of Mississauga to the alleyways of Cairo’s Zabaleen district (bonus episode), and from living in Austria to returning to medical school in Egypt (episode 7).

Tune in to Episode 8: This 44-minute episode features a conversation with Amira Salah-Ahmed (Twitter), whose life was dramatically altered when she moved back to Egypt to attend the American University in Cairo after many years of living in New York with her family — a city they had first settled in when she was only a child. Amira takes us through the journey she took towards developing a different connection with her home country, after immersing herself in the world of journalism.

WHERE TO LISTEN- You can listen to it on Google or Apple Podcasts and Spotify.

THE ENTERPRISE ENTERTAINMENT CALENDAR

MAY

6-20 May (Saturday-Saturday): Cairo Film Society Festival for Egyptian Cinema at the Artistic Creativity Center at the Cairo Opera House.

13 May-13 June (Saturday-Tuesday): Annual Flower Exhibition from 10am at the Agricultural Museum.

17 May-10 June (Wednesday-Saturday): Cairo Cinema Days at Zawya Cinema, Downtown Cairo.

18-20 May (Thursday-Saturday): Pyramids Sound and Light Show.

19 May (Friday): Carl Cox, Philipp Straub, and Gawdat live at the Pyramids.

24 May (Wednesday): Last day of Omar Abdel Zaher’s Roots exhibition at the Safarkhan Art Gallery.

24-25 (Wednesday-Thursday): Disco Misr at El Sawy Culturewheel.

24-27 May (Wednesday-Saturday): Pyramids Sound and Light Show.

25-27 May (Thursday-Saturday): TriFactory’s Somabay Endurance Festival.

JUNE

9 June (Friday): TriFactory Madinaty Half Marathon.

10 June (Saturday): Thanaweya Amma examinations begin.

15 June (Thursday): Last day of the Traces of Egypt Exhibition at the Grand Egyptian Museum.

28 June-2 July (Wednesday-Sunday): Eid El Adha (TBC).

30 June (Friday): June 30 Revolution Day.

JULY

18 July (Tuesday): Islamic New Year.

20 July (Thursday): National holiday in observance of Islamic New Year (TBC).

23 July (Sunday): Revolution Day.

27 July (Thursday): National holiday in observance of Revolution Day.

SEPTEMBER

26 September (Tuesday): Prophet Muhammad’s birthday (TBC).

28 September (Thursday): National holiday in observance of Prophet Muhammad’s birthday (TBC).

OCTOBER

6 October (Friday): Armed Forces Day.

13 October- 20 October (Friday-Friday): The sixth edition of El Gouna Film Festival (GFF).

EVENTS WITH NO SET DATE

2023: The inauguration of the Grand Egyptian Museum.

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