Murder mystery breakthrough

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WHAT WE’RE TRACKING TONIGHT

THIS EVENING: Net foreign assets position improves in August

Good afternoon, wonderful people. We’re finding it hard to believe it’s only Monday, considering the volume of news coming out of Omm El Donia today.

THE BIG STORY TODAY

Our net foreign liabilities narrowed for the second consecutive month in August, coming in at USD 25.9 bn compared to USD 26.3 bn the month prior, according to Enterprise calculations of central bank figures (pdf). This marks the second consecutive decline in our net foreign liabilities, after it reached a record high of USD 27 bn in June.

THE BIG STORY ABROAD

It’s a mixed bag in the international press this afternoon:

The Nobel Prize for Medicine is being awarded to the scientists whose research is responsible for the covid-19 vaccine — Katalin Karikó, a professor at Sagan’s University in Hungary and an adjunct professor at the University of Pennsylvania, and Drew Weissman, of the University of Pennsylvania. (Wall Street Journal | Associated Press)
The EU foreign ministers’ visit to Kyiv is getting attention as they show their support to Ukraine after the US suspended aid to the nation in its latest spending bill. (Reuters)
Fears of an upcoming US recession is leading the conversation in Bloomberg as there are fears of future strikes on higher rates and rising oil prices.

** CATCH UP QUICK on the top stories from today’s EnterpriseAM:

2024 is going to be an expensive year: New central bank projections out last week estimate that we’re going to have to repay almost a fifth of our total external debt obligations in 2024 alone.
It’s Midar’s turn to be front and center of privatization chatter in the local press: Midar — FKA El Mostakbal Urban Development and one of the four state-owned real estate firms to be included in the privatization program.
Al Ahly Capital Holding’s microfinance arm has raisedEGP 707 mn in a securitized bond issuance.

☀️ TOMORROW’S WEATHER- More cloudy skies coming our way with a high of 30°C in the daytime and dropping to a low of 22 in the evening, according to our favorite weather app.

Breakthrough in Tupac’s 1996 murder case + Germany is mulling cutting down on asylum seekers

Nearly three decades later, we have the first indictment in Tupac’s murder: Duane “Keffe D” Davis was arrested and charged with murder in the 1996 killing of rapper Tupac Shakur over the weekend, marking the first arrest made in the case 27 years later, CNN reported. Davis, who is due in court this week, is suspected of having orchestrated Shakur’s killing and provided the gun used in the drive-by shooting three decades ago. A Nevada grand jury also voted to add a sentence for “gang activity,” which could extend his prison time by an additional 20 years if convicted.

What took so long? The arrest comes after Davis’ public comments about the murder in 2019 revived the investigation, according to CNN. Davis implicated his nephew, Orlando “Baby Lane” Anderson, as one of the people in the backseat of the white Cadillac from which the shots were fired. Shakur’s murder was in retaliation for a fight he and others from the label Death Row Records had with Anderson hours earlier. Anderson denied to police his involvement in Shakur’s killing, and died himself two years later in an unrelated gang shooting.

Germany is grappling with the need to reassess its liberal migration policies as the country faces a surge in undocumented arrivals, according to Bloomberg. The country’s Finance Minister called for a change in migration policy, citing the 1993 asylum compromise — a legislative change that restricted asylum applications — as a potential model to follow. The asylum compromise curbed “unfounded” asylum applications, including from people coming from a “safe third country.” Government data indicates there were “over 204k people seeking asylum in Germany through August, [representing] a significant 77% increase compared to the same period last year.” The surge in arrivals has put immense strain on the capacity of housing projects — leading to numerous housing projects' capacity being close to zero, according to an official from Berlin’s refugee office.

Political asylum is (kind of) constitutionally ensured in Germany. However, any modifications to asylum laws necessitate a two-thirds majority in parliament. The push for reform is starting to garner support from several German political parties — including some that are traditionally opposed to changes in asylum laws, such as the country’s Green Party — while right-wing politicians continue to capitalize on public concerns surrounding migration.

The Clearing: A true story that is not for the faint of heart

? ON THE TUBE TONIGHT-
(all times CLT)

The Clearing : Inspired by true events and featuring sizable servings of creepy. Based on a real-life cult called The Family in Australia, which then inspired a novel by JP Pomare, the eight-episode mini-series is unlike other shows about ominous cults. For starters, its leader is a woman: Adrienne — whose character is based on the real-life Anne-Hamilton Byrne — believed she was Jesus reincarnated as a woman. And apparently, she had the charisma to be believed by some. Her calling, she claimed, was to find children and raise them with the principles of purity, untainted and unsullied by the corruption of society. And her methods were harrowing, all in the name of absolute compliance. Miranda Otto delivers a bone-chilling performance that made us feel like hapless children in the face of a cold-blooded monster — which, we think, is precisely the point the creators of the show wanted to convey.

Bayouki Rotisserie , the self-proclaimed “ruler of the roast,” hastwo locations on either side of the city: You can opt for a food court experience at Mall of Egypt or head to New Cairo’s The Drive by the Waterway and enjoy the comfort food in the privacy of your car. The overnight brine-marinated, butter-injected, spice-rubbed chicken can be enjoyed as is or loaded: That is, stuffed with pesto or alfredo pastas, or several varieties of rice or risotto. The chicken is well cooked and served piping hot, which extends the waiting time until you can eat. When it comes to sides, the glazed vegetables were well cooked but the glazing slightly on the sweeter side. The Bayouki rice was a top option, which was made with caramelized onions, vegetables, and cashews. A quick note about portions: You have full control. You can opt for a quarter, half or whole chicken depending on your appetite. But we recommend leaving some room for the wings. If you’re not feeling the rotisserie, you can order tacos, which include roasted chicken and a sweet cilantro sauce that tasted like a spicy tartare. Other options include a pulled or crispy chicken sandwich, or the teriyaki chicken, but be forewarned, the teriyaki side was extremely sweet.

Consider this your formal introduction to the arts throughout history. In this volume, titled Culture: The Story of Us, From Cave Art to K-Pop, renowned novelist, educator, and public intellectual Martin Puchner walks us through major episodes of history through a series of human accomplishments and events we continue to admire and learn from today. From the Chauvet cave where torch-yielding men and women left their indelible marks on the walls to Nefertiti all the way to Plato’s works, the Aztec civilization, and the French Enlightenment — the book surveys pivotal moments that have shaped global cultural trends, philosophies, and reasoning. But it is also more than that: Rather than being a “defense of the Western canon,” as the author puts it, Puchner goes beyond the restrictive establishment where culture is neatly defined. By introducing new voices that rose from an amalgam of influences, enmeshment, and “engagement across barriers of time and place,” he provides his readers with a richer, more complex — and admittedly “messier” — view of humanity as a culture-producing collective.

What the markets are doing on 2 October, 2023

The EGX30 fell 0.8% at today’s close on turnover of EGP 3.3 bn (53.2% above the 90-day average). Local investors were net sellers. The index is up 36.3% YTD.

In the green: EFG Holding (+3.2%), Heliopolis Housing (+2.8%) and Oriental Weavers (+2.2%).

In the red: Orascom Construction (-8.3%), Fawry (-3.5%) and Credit Agricole (-3.3%).

THE ENTERPRISE ENTERTAINMENT CALENDAR

OCTOBER

2 October (Monday): Salsa dancing with Soulmotion Studio atCairo Jazz Club 610.

3-4 October (Tuesday-Wednesday): Omar Khairat is set to perform at Cairo Opera House

4-18 October (Wednesdays): Japanese tea making workshop at AUC New Cairo Campus.

6 October (Friday): Armed Forces Day.

7-21 October (Saturday-Tuesday): Illustration workshop with Keem The Kid at Cocoon Cultural Center.

11 October (Wednesday): Teatro Di San Carlo performance, the Pyramids of Giza, Giza.

12-16 October (Thursday-Monday): Cairo Opera Ballet Company Cinderella at Cairo Opera House.

13-20 October (Friday-Friday): El Gouna Film Festival (GFF).

13 October (Friday):The Garden Market at Merryland Park.

13 October (Friday): Oktoberfest at the Swiss Club.

18 October (Wednesday):Ruby and Ahmed Saad at Misr University

26 October - 3 November (Thursday-Friday): The 15th Annual Cairo International JazzFestival at AUC’s Tahrir campus

28 October (Saturday): DJs Kygo, Tiësto, Kung and Frank Walker concert, Giza Pyramids.

NOVEMBER

11 November (Saturday): El Gouna Half Marathon 2023, El Gouna.

15-24 November (Wednesday-Friday): Cairo International Film Festival (CIFF).

16 November (Thursday): Jim Gaffigan’s Barely Alive Tour at The Marquee, Cairo Festival City.

JANUARY

20 January (Saturday): Charlotte Cardin performing at Cairo Jazz Club 610

EVENTS WITH NO SET DATE

2023: The inauguration of the Grand Egyptian Museum.

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