Happy THURSDAY, friends. It’s a relatively busy end to the week as we jump headfirst into the weekend.
THE BIG STORY TODAY
Inflation cooled for a fourth consecutive month in January, falling to the lowest level in 11 months, according to figures from state statistics agency Capmas. Annual urban inflation slowed 3.1 percentage points to 29.8% from 33.7% in December, marking the first time since January 2023 that annual inflation has come in at below 30%. The lower annual inflation rate is partially thanks to a favorable base effect, Bloomberg says.
THE BIG STORY ABROAD
Once again, there’s no single unifying story or theme in the international press this afternoon. A handful of stories to keep an eye on:
Maersk suspended its share buybacks in light of “high uncertainty” about future earnings, due to the ongoing conflict in the Red Sea and oversupply, resulting in a 17% drop in trade this morning. (CNBC)
A US drone strike killed the commander of the Iran-backed Hataib Hezbollah in Baghdad last night in response to their attack on an American base in Jordan last month. (Bloomberg)
China’s economy continues to struggle seeing its fastest consumer price index fall (-0.8%) in 15 years, further impacting investor confidence. (Financial Times)
Pakistan counts its general election votes amidst militia violence (with over 35 lives lost) and suspended mobile networks, raising heavy criticism, including from Amnesty International. (Reuters)
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** CATCH UP QUICKon the top stories from today’s EnterpriseAM:
Devaluation, the IMF package, and Ras El Hekma:Cairo was on fire yesterday with talk of devaluation, where we stand on the IMF package, and a land sale and development agreement for the North Coast’s Ras El Hekma.
We’re ringing in March with a EGP 180 bn package of wage hikes, pension increases, tax breaks: President Abdel Fattah El Sisi announced yesterday a set of measures including public-sector wage hikes, income tax breaks, pension increases, and a 50% rise to the public-sector minimum wage to EGP 6k.
A fresh round of ceasefire negotiations kicks off: Cairo is hosting a new round of Egyptian and Qatari-sponsored negotiations starting today.
HELP GAZA-
Want to support relief efforts in Gaza, but don’t know how? We’ve got you. More than 1 mn people in Gaza have been thrown from their homes and every human being there lacks access to food, water, and fuel amid the most intense bombardment any population has endured this century.
The folks at Talabat are processing donations for a range of Gaza relief appeals by charities including the Egyptian Food Bank and Misr El Kheir. Pay in EGP using your credit card.
Or check out our list of charities to which you can make direct donations via bank deposit and / or Fawry.
☀️ TOMORROW’S WEATHER- Expect yet another partly cloudy day with a high of 22°C and a low of 11°C, according to our favorite weather app.
Ye at the Pyramids? Rapper Kanye West posted several stories on his Instagram account of him discussing a world tour yesterday, naming Om el Donia as a potential stop. While the first venue he considered was the Cairo International Stadium, he later expressed interest in performing at the Giza Pyramids. West is one of the most successful and most controversial music artists on the planet, holding 24 Grammys and selling a total of 160 mn records over the course of his career.
It’s still entirely unclear whether this is going to materialize: West’s stories include screenshots of a message from talent manager Julieanna Marie Goddard listing the Pyramids among “iconic international venue options that would love to have you.” However, there are no indications on whether or not the rapper and his team have formally engaged in talks with Egyptian authorities, including the Music Syndicate, which last year controversially rescinded Travis Scott’s license to perform at the Pyramids.
Apple hasn’t given up on its foldable phone experiment, but it hasn’t really gotten closer to resolving key design and functionality issues, The Information reports, citing an unnamed source with firsthand knowledge of the matter. The tech giant has continued to struggle to make the phone thin and durable enough at a reasonable price point, the source says. while getting rid of that pesky seam in the middle of the screen — all issues that foldable Androids have grappled with.
If Apple resolves these issues (or decides to launch the product, problems and all), we’re unlikely to see a release until after 2025, the Information says. Apple has been working on the phone for a while, having filed a patent last year for several features of its future devices, including foldables, Gizmodo reported previously
Disney makes a foray into gaming: Disney announced overnight that they will be investing USD 1.5 bn in Epic Games in an equity transaction ahead of a multiyear — and no doubt multi-bn — project. Disney had previously collaborated with Epic Games to bring some of their characters to Fortnite. The company did not disclose the size of the stake it will acquire in Epic Games, or the company’s valuation following the transaction.
Disney may be getting more out of this transaction than meets the eye. Disney CEO Bob Iger told CNBC that the move was based on demographic trends following Gen Alpha and Gen Z’s habits. Epic Games CEO Tim Sweeney said in a statement that Disney has always shown interest in Fortnite’s metaverse potential, and — more importantly — mentioned that Disney uses the company’s Unreal Engine (UE) across their portfolio.
UE is the leading 3D computer graphics engine created by Epic Games, a software platform used for building large and complex games with high-fidelity and photorealistic 3D graphics. Beyond video games, UE is used by the film and animation industry for creating realistic visuals without the need for green screen.
UE is generously open-source. The software offers powerful tools for animation, physics simulation, AI, sound design, real-time lighting, and physical-based rendering. Its high-fidelity graphics and community of developers and artists providing support and tutorials make the platform an invaluable tool for anyone working with 3D graphics. Epic Games lets developers download UE at no cost for personal projects and/or learning, and uses a royalty model for commercial use that is based on the project’s revenue.
If Disney acquires the rights for UE, you can kiss your access goodbye. Based on Disney’s historical approach to copyright enforcement, we expect the licensing structure or pricing models to change drastically, making UE less (or in-) accessible for developers and smaller studios. Disney’s investment may give them more significant influence over the animation industry, and now the game development industry as well.
Running out of options on your streaming platforms? Produced in a documentary/podcast format, the JCS - Criminal Psychology channel on YouTube takes a forensic, psychological, and behavioral look at true crime. Pairing real life interrogation and courtroom footage with commentary of the host, the show’s tone is pragmatic with an undertone of sarcasm we find particularly enjoyable.
“What pretending to be crazy looks like” got us hooked. A guilty school-shooter tries to fake insanity to ease the interrogation process for himself and host Kizzume dissects exactly how experts are able to tell that it’s all an act with a breakdown of all the choices he makes to play the part.
New episodes are unfortunately sparse, but each video is worth the wait. You have around 20 videos to sift through ranging in length from 13 mins to around two hours. Despite the heavy subject matter, the episodes are surprisingly bingeable so you might get through them quicker than you think.
Related
⚽ There aren’t any important matches today, but the weekend will serve up new rounds of the European leagues and some heated competition.
Friday’s notable matches:
Cadiz vs Real Betis (La Liga - 10pm)
Salernitana vs Empoli (Serie A - 9:45pm)
Dortmund vs Freiburg (Bundesliga - 9:30pm)
Marseille vs Metz (Ligue 1 - 10pm)
Man City kicks off gameweek 24 of the Premier League with a high stakes match against Everton at 2:30pm on Saturday that will determine who settles at the top of the points table. At 5pm, Liverpool will play Burnley to try and secure their lead — or restore it depending on Man City’s performance.
The rest of the games on Saturday:
Tottenham vs Brighton (5pm)
Wolves vs Brentford (5pm)
Fulham vs Bournemouth (5pm)
Luton Town vs Sheffield United (5pm)
Nottm Forest vs Newcastle (7:30pm)
Will Real Madrid and Girona settle the power struggle? Frontrunner of La Liga Real Madrid hosts the underdog Girona — in second place with a two-point difference — at 7:30pm on Saturday.
Also playing:
Alaves vs Villarreal (3pm)
Sociedad vs Osasuna (5:15pm)
Las Palmas vs Valencia (10pm)
Other European League matches on Saturday:
Roma vs Inter Milan (Serie A - 7pm)
Leverkusen vs Bayern Munich (Bundesliga - 7:30pm)
PSG vs Lille (Ligue 1 - 10pm)
Africa’s third: South Africa and the DRC will go head-to-head to cinch the Afcon’s bronze medal at 10pm on Saturday.
… and Asia’s final: Jordan plays the home team and title-holder Qatar in the Asian Cup final at 5pm on Saturday.
Related
? OUT AND ABOUT- (all times CLT)
THIS WEEKEND-
THEATER-
Ebni is back at Rawabet Art Space:The play, an adaptation of God of Carnage by Yasmina Reza, demonstrates how two different families react when their children get into a fight,and as the play unfolds their true colors are revealed. Catch the performance starting tomorrow, or next Tuesday and Wednesday, 13 and 14 February at 8pm and on Saturday, 10 February at 5pm. Book your tickets here.
Head to The Tap West for It’s Not Unusual, a two-day showcase of live performances, good food, and drinks hosted by ACT Theatre Group. The event runs this weekend on Friday and Saturday, starting at 7pm. Send The Tap West or ACT a message to reserve.
MUSIC-
The Grand Egyptian Museum will be hosting Tunisian songstress Emel Mathlouthi tomorrow, so hurry and grab a ticket. The Voices of Hope concert will start promptly at 9pm.
Hamza Namira will be dropping his album at a concert hosted by ZED park tomorrow at 8pm. The park’s gates will open at 2pm but the concert gates will open later at 6pm. You can get your tickets here, with the option of regular standing, VIP standing, or VIP seated.
Egyptian independent artist and multi-instrumentalist ASH will be performing at Le LacDu Caire tomorrow. Hosted by CRCL, the event will start at 1pm and doors will close at 4pm. Get your tickets here.
Don’t miss out on Mohamed Mounir, Ramy Sabry, and Sharmoofers taking the stageatFamily Park.The event will take place on Friday, 16 February with gates opening at 1pm and performances starting at 7pm. Get your tickets through Tazkarti.
Amr Diab is back on stage for the first time in Egypt this year. El Hadaba’s concert is taking place in Manara Arena on Friday, 16 February. Grab your tickets while you can.
Ready to rock? ROKN, a rising Egyptian rock band, is performing at ROOM Art Space and Café on Friday, 16 February. You can snag tickets for EGP 200 here or at the door.
Oud player Saad Al Oud and his band will be playing at Theatro Arkan on Saturday, 17 February. The night of classical Egyptian music will open its doors from 7:30pm and begin at 8pm. You can get your tickets at Ticketsmarche.
Renowned musician and composer Omar Khairat will be gracing the stage again at the Egyptian Opera House for two nights on Wednesday, 21 February and Thursday, 22 February at the Grand Theatre at 8pm. Get your ticket for the first night here and the second night here.
POETRY-
Amr Hassan will be performing at El Sawy Culturewheel for their annual end-of-winter show. Alongside his band, he will perform two concerts on Friday, 16 February, one at 3:30pm and one at 7pm. Find out more here.
THEATER-
In another of Mahmoud Saad’s live interviews, Ashraf Abdelbaki will be featured on stage on Saturday, 17 February. Accompanying entertainment will be provided by Mai Farouk. Before you grab a ticket, keep in mind that this is a no-phone, filmed experience, meaning that you should expect to hand your phone over at the gate and be seen by friends and family on their TV screens at home.
Russell Peters is taking the stage at Sports City Stadium later this month. Peters is making his comeback in Egypt on Monday, 19 February in the New Administrative Capital City. Grab your tickets while you can. For EGP 12k, you can meet the all-time highest grossing standup comedian.
SPORTS-
Join a run for Gaza on Friday, February 16 with the TriFactory in the Wadi DeglaProtectorate. All proceeds will go towards sending aid to Gaza and you can sign up here for the 5K or 1K distances.
The Cairo Half Marathon is taking place in just over a month: Mark your calendars for Friday, 1 March, and start stretching. Cairo Runners is bringing back a fan favorite, offering 5km, 10km, and 21km runs as well as a Family Run. Tickets are still available, giving you ample time to convince seven of your friends to join, which will get a 10% reduction in price when you register.
Get down and dirty at the TriFactory’s Tough Mudder Egypt on Friday, 1 March. The obstacle course challenge will take place at Belle Vie Club in New Zayed.
INTERACTIVE EVENTS-
Fancy yourself a detective? Murder-mystery fans can pull out their magnifying glasses to crack this case. Cluedupp and Crime Scene Investigator are staging a hard-boiled outdoor event where you have to solve four murders around the city by solving puzzles, interrogating witnesses, and hunting for clues. Find more details here.
Related
? EARS TO THE GROUND-
Get an inside look at how the EncroChat hack went down: Catching the Kingpins is a six-part podcast hosted by Mobeen Azhar that delves into how British police cracked EncroChat in 2020, breaking into an encrypted network used by criminals to conduct operations. By listening in on operations for over two months, police were able to make the UK’s biggest organized crime bust and seize GBP 19 mn, make nearly 1k arrests and secure over 400 convictions.
Arms sales, dirty cops, and even murder: The episodes include interviews with police officers who worked the case, revealing how they uncovered a murder plot in Wales, drug trafficking deals amounting to three tonnes, and a corrupt police officer working with a London crime network.
If you’re a true crime fanatic, this one’s for you. Fans of Serial will be hooked, but squeamish listeners are in luck because it’s a lot less gruesome.
The EGX30 rose 1.8% at today’s close on turnover of EGP 4.9 bn (34.2% above the 90-day average). Foreign investors were net buyers. The index is up 14.1% YTD.
In the green: Madinet Masr (+7.9%), Ibnsina Pharma (+5.5%) and Telecom Egypt (+4.7%).
In the red: TMG Holding (-6.5%), Sidi Kerir Petrochemicals (-1.9%) and E-Finance (-0.2%).
Forget cat videos and baking shows — true crime is the internet’s reigning champion of our attention:For some, winding down after a long day at work means settling into the couch with a fun snack and the most disturbing and graphic account of murder you can find. A Pew Research study found that almost a quarter of all the top-ranked podcasts in the US focused on true crime stories. But fascination with the genre isn’t limited to retellings of past horrors narrated by a silky-voiced host. A survey published by The Criminal Law Practitioner found that 76% of American adults were fans of the genre.
People really like playing detective: Investigation Discovery, a network dedicated to true crime documentaries, debuted in 2008 and became so popular that it created a true crime convention called IDCon, informally known as Murderchella, which ran up until 2021. It has been succeeded by CrimeCon, which organizes panels with true-crime personalities, sets up interactive exhibits of real crime scenes, and is even setting sail on their third CrimeCruise this year.
There is a seemingly inexhaustible supply of true crime content — documentaries, shows, and podcasts to consume. The more horrific, the better. But when our phones display news of horrifying and deliberate loss of life, our hearts wrench and we look away.
That begs the question: If most people avoid news of tragic events, why do they consume them for entertainment? It may feel counterintuitive to enjoy stories of acts of evil while reacting differently (read: appropriately) in the face of tragic events happening in real time.
In a nutshell, we’re naturally curious about disasters and tragedy — but want to maintain a safe distance from them.People who consume true crime material may experience the rush and intrigue of danger vicariously without suffering the consequences, Cynthia Hoffner, a communication professor at Georgia State University who studies media and mental health, tells the Washington Post. It’s a lot like riding a rollercoaster — you expose yourself to an extreme situation in a controlled environment, experiencing the physical and emotional responses of danger under secure circumstances.
Consuming this genre of content may provide us with a feeling of control over extremely anxiety-inducing issues: This may be a subconscious evolutionary strategy for survival — humans are designed to gather information that can be useful to us later on, especially when it comes to safety.While it may heighten anxiety for some people, it helps others confront their fears. Another reason people seek true crime out is exposure therapy, which is a common treatment for phobias, Hoffner says.
We’re really just trying to understand the bad things out there: Curiosity about death is expected and normal. And true crime lets us observe people who have committed what criminal forensic psychologist Paul Mattiuzzi calls the “most fundamental taboo,” and spookily, “the most fundamental human impulse.” Every case is an assessment of “the enormity of evil,” Mattiuzzi writes. And since concepts of good and evil have been fed to us since childhood, true crime exercises that fascination.
We try to figure out what drives people to those behavioral extremes: Part of it, Pulitzer-nominated investigative journalist Caitlin Rother says, is that we can learn how to protect ourselves and our families. Behavioral scientist Coltan Scrivner agreed, adding that this material may make us feel prepared for dangerous situations. “Your mind is still like, Okay, this is really important. I should pay attention, because what if?”
This may explain why so many women find true crime podcasts comforting. Women are twice as likely to indulge in true crime content, but it may be about control and preparation, not sadomasochism. Around 60% of those murdered by a familiar person are women, as are 70% of serial killer victims. Many women find these podcasts educational, and believe that by learning the pitfalls that lead to victimhood, they might be able to stop it from happening to themselves, psychologists suggest.
That’s not to say that consuming large amounts of true crime content doesn’t have its downsides, including raising ethical questions: True crime as a genre operates largely without the consent of those at the center of those tragedies, Time says, and often ends up glamorizing the criminals, according to Dazed. Movies and series about serial killers (think Netflix’s series on Ted Bundy and Jeffrey Dahmer) tend to depict the criminals as complex, intelligent, and interesting, purposefully making them appealing and interesting characters to viewers, a psychology lecturer tells Dazed.
These portrayals have created (rather disturbing) fanbases for some criminals: Last year, Evan Peters received a Golden Globe for his role as Dahmer, a serial killer who murdered 17 people and engaged in cannibalism and necrophilia. The portrayal set off mns of fan edits of Peters as Dahmer, and garnered the real killer a vocal fanclub. Many online marketplaces also have murder-themed merchandise, ranging from candles, clothes, and accessories, recipe books for cocktails inspired by serial killers, serial killer playing cards, to mugs that read “Roses are red, violets are blue, I’ve watched enough crime shows, they’ll never find you.”
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