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THE WEEK IN REVIEW

THIS WEEKEND: An econ-heavy week, between new murmurs on the IMF program, an EGP 180 bn social package, and cooling inflation

Good morning, folks, and happy Friday. We don’t know about you all, but we’re quite relieved the weekend is finally here.

We’re at the time of year when most new year’s resolutions have already failed, most likely including resolutions for improved eating habits. While there are plenty of reasons this resolution in particular tends to fall through — not least of which is the temptation of takeout when you don’t have the time, energy, or skills to cook for yourself at home.

Some people have taken to meal-prepping — which has recently gained popularity on social media — but in reality, it is time-consuming and the gear is expensive, plus kitchen and fridge space is also an issue. So let’s bid adieu to kitchen chaos with our list of Egypt’s meal prep services, the ultimate convenience of having chef-crafted, healthy meals delivered straight to your doorstep.

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.

LAST WEEK IN 3 MINS-

ECONOMY-

#1- Everyone is sitting tight waiting for the IMF agreement: IMF staff and Egyptian officials are close to finalizing a new financial support package for Egypt, the Fund’s Managing Director Kristalina Georgieva said during a media roundtable last week. “We are in this very last stretch where we are working on the details of implementation … we’re not talking about a long protracted period at all,” Georgieva said.

But no word on how big the package will be: There’s no consensus on how big the loan will be, with local and international outlets putting the figure between USD 6-12 bn, with the latest report suggesting we could get USD 6 bn from the IMF and another USD 6 bn from “development partners.” Our sources agree, with seven who have knowledge of the talks putting the package in that range. It appears we have two options: Go for a gradual, managed float and take on less funding — or go for a full float and get a larger assistance package.

#2- El Sisi announces EGP 180 bn social safety net package: The government willimplement a set of measures from the beginning of March including public-sector wage hikes, income tax breaks, pension increases, and a 50% rise to the public-sector minimum wage to EGP 6k. The package also includes early bonuses for civil servants, better wages for educators, doctors, and nurses, and personal income tax breaks.

#3- (Some) closure on Ras El Hekma: The General Authority for Freezones and Investments (GAFI) has tapped a consortium of unnamed Emirati investors to take over the USD 22 bn development of a plot of land in the North Coast’s Ras El Hekma, GAFI head Hossam Heiba said on Wednesday.

The two sides have wrapped negotiations and are gearing up to sign contracts, Heiba said, days after local and social media were awash with rumors about the government planning to sell a huge piece of land in Ras El Hekma. Prime Minister Moustafa Madbouly alluded to the agreement at yesterday’s cabinet meeting, saying a legal and technical team are reviewing investment offers “yielding significant foreign currency revenues,” without specifying further.

#4- Our net foreign asset deficit hit a new record high in December, as pressures keep mounting on the country’s external position. Our net foreign asset deficit inched up to over USD 27.2 bn, after retracting to USD 27 bn in November, according to Enterprise calculations of Central Bank of Egypt figures.

#5- Inflation decelerated for the fourth consecutive month in January, falling below the 30% mark for the first time since January 2023. Annual urban inflation came in at 29.8%, cooling from 33.7% in December.

PRIVATIZATION-

Curtain closes on bidding for Wataniya: Planning Minister and Sovereign Fund of Egypt (SFE) Chair Hala El Said told Asharq Business on Tuesday that investors have 48 hours to submit their final bids for the military-owned filling station operator. The fuel retailer sale — along with that of the bottled water company Safi — has been in the works for the past three years. Taqa Arabia was the only firm to have publicly declared interest in the fuel retailer, but several other companies have been said to be lodging bids, including Abu Dhabi National Oil Company (Adnoc) and Shell.

MANUFACTURING-

Sherif El Zayat stepped down as CEO of EK Holding last week to start a new chapter that will see him focusing on the growth of two family-owned packaging businesses and other ventures that could see him deploy tens of mns of USD in Egypt in the years to come.

** We sat down with Sherif El Zayat after the announcement to talk about his time at EK Holding, his future plans, and why he believes in Egypt as a promising hub for exports to Europe and beyond.You can check out the full interview here.

TOURISM-

The GEM is almost ready: Officials are putting the final touches on the Grand Egyptian Museum to wrap up preparations for the opening by the end of this month and officially receive visitors shortly after that.

WAR WATCH

El Sisi + Blinken on Gaza ceasefire: US Secretary of State Antony Blinken was in Egypt on Tuesday to meet President Abdel Fattah El Sisi for Gaza and Red Sea attacks-centered talks. The meeting “focused on developments in unyielding efforts aimed at reaching a ceasefire in the Gaza Strip, exchanging detainees and providing access to needed relief aid,” according to an Ittihadiya statement.

Israeli Prime Minister Benjamin Netanyahu scuttled all hope of an imminent ceasefire on Wednesday evening by rejecting Hamas’ ceasefire terms presented the day before, telling reporters that “there is no other solution but a complete and final victory” (watch, runtime; 23:00).

AROUND THE WORLD IN SEVEN DAYS-

Our region was once again in the spotlight of the international press this week — but unfortunately for all the wrong reasons: The US carried out more airstrikes on Yemen on Sunday, days after it launched airstrikes on some 85 targets in Iraq and Syria with reported ties to Iran’s Revolutionary Guards Corps (IRGC), killing 40 and compounding fears of regional escalation, Reuters reported.

The increase in hostilities further dwindled Red Sea freight traffic:The Suez Canal’s monthly receipts in January fell 47% y-o-y to USD 428 mn, as the number of ships passing through the waterway dwindled to almost 37% to 1.4k last month because of Houthi attacks on vessels in the Red Sea and US-led strikes in the region.

And prospects for the resumption of global trade are looking grim: Japanese shipping firm Mitsui OSK Lines thinks Red Sea escalations could hold up global trade for up to a year, CEO Takeshi Hashimoto told Bloomberg. “The situation will continue at least for the coming two or three months. And as a worst case scenario, six months or one year,” Hashimoto said. Meanwhile, Maersk said yesterday it’s suspending share buybacks in light of “high uncertainty” about future earnings because of the Red Sea conflict.

WHILE IN BUSINESS NEWS- McDonald’s 4Q revenues fall short of estimates amid MidEast boycotts,according to its latest earnings release (pdf). The company’s sales in its international developmental licensed markets segment edged up just 0.7% during the quarter, compared to estimates of 5.5%, according to LSEG data cited by Reuters.

THE EGYPT ANGLE- McDonald’s is one of several Western goods and brands that have been subject to boycotts in the Middle East due to its perceived support for Israel. McDonald's Egypt has been trying to get in Egyptian’s good grace — reiterating the fact that it is 100% Egyptian-owned and announcing an EGP 20 mn donation to those in need in Gaza.

AND OVER IN THE UK- King Charles III has been diagnosed with “a form of cancer” at the age of 75, a year and a half after coming to the throne, according to a statement released by Buckingham Palace yesterday.

THE WEATHER THIS WEEKEND- Look out for partly cloudy days this weekend with today bringing us a high of 23°C and tomorrow peaking at 22°C, with both days set to see a nighttime low of 10°C.

HAPPENING THIS WEEKEND-

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 today, 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 today and tomorrow, starting at 7pm. Send The Tap West or ACT a message to reserve.

The Grand Egyptian Museum will be hosting Tunisian songstress Emel Mathlouthi tonight, 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 tonight 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 tonight. Hosted by CRCL, the event will start at 1pm and doors will close at 4pm. Get your tickets here.

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THE ENTERPRISE GUIDE

Need some control over your meals? Your meal-prep provider is a phone call away

Struggling to cook healthy meals? If you feel like you’re stuck in the plot of Groundhog Day, let’s face it — not a lot of people have time to cook healthy, balanced meals on a daily basis while juggling intense workloads and jam-packed schedules. That’s where meal prep can be a saving grace — particularly if you outsource the heavy lifting to a paid service, of which there are plenty around town.

WHY INVEST IN MEAL PREP? It’s a game-changer of a service since it blends convenience and healthy eating. Imagine eliminating all the stress of meal planning, grocery shopping, and cooking by having ready-made and tailored meals delivered to your doorstep. Aside from the obvious advantage of saving time, these services also often provide curated plans catering to various dietary preferences.

NOTE- Please make sure to disclose any allergies or dietary restrictions before purchasing. As far as taste goes, expect there to be a trial and error process to find your sweet spot.

MEAL PREP SERVICES-

GLOW- You’ve probably seen Glow ’s ice cream toting bikes in the summertime, but did you know they also provide meal programs ? Their programs start from three days up to 28 days with different price ranges catering to weight loss, healthy eating, and vegans. Each program provides a thorough meal plan with a calorie count, ingredients list, and the ability to tweak some meals based on your preferences.

PRICE- From EGP 1.4k to EGP 17.4k depending on which program you choose and how many days.

DELIVERY LOCATIONS- Cairo only.

CARBLESS-This service specializes in keto-based meals which they say lowers the blood pressure, controls cholesterol levels, and boosts your overall mood. Carbless put together your meal plan based on a form you fill out giving insights into your preferences and any allergies you may have. The service sends meals every four days from the day you start and check in every three days to monitor your progress.

PRICE- Carbless offers options ranging from EGP 255 per meal up to EGP 31k depending on the length of service you choose.

DELIVERY LOCATIONS- Cairo only.

VEGINN- Make the animal-friendly shift without compromising on taste. Veginn’s packages don’t serve up bland or tasteless food, and they have a store in New Cairo if you want to taste before you commit. All meat in your meal plan will be substituted with soya meat, so enjoy your Bolognese without guilt or gluten.

PRICE- Packages range from EGP 281 to EGP 382 per meal.

DELIVERY LOCATIONS- New Cairo and Maadi only.

DIET TO DOOR- Say goodbye to diet stress and hello to delicious meals tailored to your needs. The service offers five programs: Balanced, low carb, muscle gain, kids, and vegetarian. Each program has four menus rotating throughout the month offering you three to four options per meal to choose from.

PRICE- EGP 550 per day and up to EGP 49.3k per quarter depending on which program you choose and how many days.

DELIVERY LOCATIONS- Cairo only.

TREATS- This meal prep service offers two methods for meal planning. You can either curate meal plans based on your needs — whether that’s to stick to a budget, or to prioritize the healthiness of the meals — or choose meals from a set menu on a weekly or monthly basis. The service also includes a meal plan for athletes and has an outlet in Urban Station if you want to taste before you commit.

PRICE- EGP 950 for five meals a week and up to EGP 10k for 60 meals a month.

DELIVERY LOCATIONS- You can pick up the food at their store in Heliopolis or opt for home delivery only in Cairo.

DIET DELIGHT- This service offers weekly or monthly packages with an assortment of combinations including either breakfast and lunch, lunch and dinner, breakfast and lunch plus snacks, or just lunch. Meals are more gym and weight-loss goal-oriented and can be ordered daily, weekly, and monthly. For more information on plans, drop them a DM on Instagram and take a sneak peek of some of the meals they curate on the page. Customized meals based on preference are also available .

PRICE- EGP 430 daily up to EGP 15k monthly (28 days).

DELIVERY LOCATIONS- Cairo only.

DENU- This meal plan service offers daily, weekly, monthly or quarterly plans that include a wide variety of meals curated to suit your personal preferences and how long you would like to run your plan. They collect all the need-to-know information and curate the best option for you depending on your goals. Take a peek at the menu on their website to get an idea of what your plan might include before committing.

PRICE- EGP 189 per meal up to EGP 48k for the quarterly package.

DELIVERY LOCATIONS- Cairo and Sahel during the summer season.

This publication is proudly sponsored by

From OUR FAMILY to YOURS
From OUR FAMILY to YOURS
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WHAT ARE YOU UP TO THIS WEEKEND?

Iron Claw is moving and endearing. GB offers classic burgers + Introverts will enjoy reading Shy. PLUS: Tekken 8 offers all of the features of the timeless game

? AT THE MOVIES-

Who knew wrestling could pull at your heartstrings: The Iron Claw (watch trailer, runtime: 2:22) follows wrestling legends the Von Erich brothers (played by Zac Efron, The Bear ’s Jeremy Allen White, Harris Dickinson of The Triangle of Sadness, and Stanley Simons) as they literally fight for their family legacy in the 80s under the watchful of their controlling father Fritz (played by Mindhunter’s Holt McCallany).

The movie is about the self-destructive nature of professional wrestling, but also about toxic parenting. Fritz Von Erich pushes his sons past their breaking point for a title he could never achieve. We watch with horror alongside Kevin (Efron), the oldest living son, as the family curse — real or self-fulfilled — eats away at them.

The film pulls a hefty emotional punch.We found ourselves dabbing our eyes with our sleeves and fighting a lump in our throat more than once, but the explicit physical and emotional brutality seems to be downplayed in the film. This may be intentional out of respect to the surviving members of the family, but it surprised us — you expect blood and bodily harm from a wrestling drama.

What it lacks in historical accuracy, it delivers in great performances. A24 has taken some artistic liberties in its depiction of the family and the timeline may have been fudged with one Von Erich son strangely excluded from the narrative altogether. The acting prowess exhibited by Efron and his castmates is almost disproportionate to the roles given — their gravitas has been reigned in by the lightweight plot scripted by Sean Durkin. One can only hope that these roles serve as a springboard into dramatic roles these actors can sink their teeth into.

WHERE TO WATCH- The Iron Claw is screening at Zawya Cinema.

? FROM THE BOOKSTORE-

Talking is like silver, but silence is gold: Being shy or reserved is typically seen as an attribute that doesn’t exactly go hand-in-hand with smashing success, particularly as being a more outgoing and sociable person can help open doors. In Shy: How being quiet can lead to success, Annie Ridout argues the exact opposite.

Ridout flips the coin on how we perceive shyness through personal anecdotes and insights from certified clinical psychologists and experts. Shyness emerges as a result of both nature and nurture (i.e. your genetics or inherited characteristics, and the environment in which you grew up), Ridout says. People who are reserved or seen as shy tend to be really good listeners, thoughtful speakers, and keen observers — extending surprising benefits to work life, relationships, and self-love.

You can find it in Alef Bookstore.

? HOT AND FRESH OUT OF THE KITCHEN-

Craving a good ol’ reliable burger? GB Burger is ready to scratch the itch. This burger joint boasts a menu large enough to deliver whatever you’re in the mood for. We were especially impressed with the soft, fluffy buns that really set the burger apart from most other joints.

Any size you like: You can choose between double and triple-decker patties depending on how hungry you are. The double was generous enough, but we might try the triple next time just for more of that juicy patty goodness topped with crisp lettuce and sliced tomato.

Any taste you like: The Original One is a great pick if you’re craving a standard burger without any frills. The Caramelized BBQ and the Sweet N Smoke are very similar, but the latter gives us the nostalgic flavor of a certain sauce from the (boycotted) golden arch food chain.

Not feeling a burger? The Buffalo Ranch was delicious, serving up the tenderest fried chicken we ever tasted and a generous helping with ranch sauce. We would swap the lettuce out for coleslaw for some extra crunch.

The downsides:We recommend giving the fries a miss — even the cheesy cheetos version. Go for the onion rings or the cheddar cheese jalapeño sticks, which were a crowd favorite. If you want dessert, head elsewhere.

You can indulge in GB Burger online through Talabat or by visiting their branch in New Cairo.

? Per person: EGP 200-350

? Outdoor seating: Yes

? Alcohol: No

? Accessibility friendly: Yes

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PASS THE CONTROLLER

Tekken 8 is back after a seven year wait with all the OG Tekken perks

Tekken is back, and it’s worth the wait:New installments of 90s fighting games Street Fighter and Mortal Kombat — both critically acclaimed — dropped last year and now Tekken 8 (watch trailer, runtime: 1:45) has entered the ring swinging. While the game is very similar to its predecessor, released on consoles seven years ago, Bandai Namco built on everything that made T7 great and made it even better.

Superfan or newcomer, you’ll enjoy it: Choose between classic arcade mode, longer tournaments, multiple game styles, online or offline. Remember Tekken Bowl, the volleyball mode? It still exists and it's perfect for game nights.

Looking for classic Tekken story mode? Boot up The Dark Awakens. This is a single-player 15 chapter campaign following the classic Jin and Kazuya conflict, complete with dramatic film sequences and fights against most of the character roster. Some of the matches switch up the rules and offer unique attacks, keeping you on your toes and challenged.

Arcade Quest is an unnecessary addition to the game… In this mode, your customized avatar races around arcades to defeat other players, move up ranks, and unlock new clothes. It’s not central to the game, but a fun side game for some. Once you’ve made your way to the top, you’ll unlock Super Ghost Battle — a game mode where your and other players’ avatars can duke it out.

… but the Heat brawling system takes the cake. The fighting mechanics of Tekken were never dull, but Heat introduces an exhilarating dimension to gameplay. Fighter-specific moves trigger a burst of energy on contact which activates an aura, unlocking moves like Heat Smash, inflicting damage even when the blows are blocked.

⌛ Hours of gameplay: 12 hours for 100% completion, N/A for arcade mode.

? Platforms:Steam for PC, Playstation 5, Xbox Series X|S.

? Price: Standard edition for USD 44.99 on Steam, USD 69.99 on PS5 and Xbox, Deluxe edition for USD 64.99 on Steam, USD 99.99 on PS5 and Xbox, Ultimate edition for USD 71.99 on Steam, USD 109.99 on PS5 and Xbox. Unpaid demo available on all platforms.

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WHAT TO LISTEN TO

The Opportunist tells the stories of how normal people cross the line between good and evil

How does a normal person become a con artist, a cult leader, or a criminal? The Opportunist is a true crime podcast that doesn't allow you to distance yourself from people who do terrible things. Hosted by Hannah Smith, the podcast examines the stories of regular people who do bad things because the opportunity presents itself.

There’s a dark potential lurking inside us:One of the most recent episodes discusses the all-too-familiar organic supplement fad. Marc St. Onge peddled Black Oxygen Organics, marketed as the most powerful electrolyte in existence, under claims it dissipates COVID-19 side effects, helps with inflammation, and even completely reverses aging.

It was actually just mud. Within months, hundreds of thousands of people were buying and selling Black Oxygen mud at USD 110 a packet, bolstered by a slate of positive testimonials. Turns out, consuming mud is bad for you… really bad for you. Lab tests showed that drinking the recommended amount of Black Oxygen mud led people to ingest dangerous amounts of arsenic and lead.

How did St. Onge con smart, completely normal people? The pandemic, mostly. He had been trying to sell his magic mud since the late 90s, but only when people were desperately searching for alternative medicine in pandemic-induced fear did the product take off. It was the perfect storm that made Black Oxygen Organics popular, and St. Onge jumped at the opportunity.

WHERE TO LISTEN- The Opportunist is available on Apple Podcasts, PodcastOne, Spotify, and Audible.


FEBRUARY

4-10 February (Sunday-Saturday): Petite Salle Exhibition at Passion Art Gallery.

6-11 February (Tuesday-Sunday): My Bedroom 2 theater performance at Dawar.

9 February (Friday): Hamza Namira album release concert at Zed Park.

9 February (Friday): Voices of Hope Emel Mathlouthi concert at Kundalini Grand Pyramids.

9 February (Friday): Saqqara Pyramid Race by TriFactory.

9 February (Friday): ASH will be performing at Le Lac Du Caire.

9 February (Friday): Jazzerna at ROOM Garden City.

9 February (Friday): Mimi the Cook’s Pop-Up Dinner at Ratios Underground.

9-10 February (Friday-Saturday): Ebni at Rawabet Art Space.

9-10 February (Friday-Saturday): It’s Not Unusual at The Tap West.

10 February (Saturday): City of the Dead tour with Qahrawya.

12 February (Monday): Oil painting workshop at Art Square Academy.

13-14 February (Tuesday-Wednesday): Ebni at Rawabet Art Space.

15 February (Thursday): Nouran AbuTaleb concert at Theatro Arkan.

15 February (Thursday): Komedy Koshk comedy open mic night at EDEN Spaces.

15 February (Thursday): Valentine’s Bazaar by Le Marché.

16 February (Friday): Amr Hassan concert at El Sawy.

16 February (Friday): Amr Diab live concert at Al Manara Arena.

16 February (Friday): Run for Gaza with TriFactory.

16 February (Friday): ROKN x ROOM concert at ROOM Garden City.

16 February (Friday): Game night at ROOM New Cairo.

16-17 February (Friday-Saturday): Football Access Summit at Zed Park.

17 February (Saturday): Ashraf Abdelbaki interviewed live by Mahmoud Saad.

17 February (Saturday): Gudran tour and workshop with Qahrawya.

17 February (Saturday): Saad El Oud concert at Theatro Arkan.

18 February (Sunday): Time Plus Tragedy comedy show by Rawabet Art Space.

19 February (Monday): Russell Peters standup show at Sports City Stadium.

21 February (Wednesday): Celebrating 100 Years of the Legendary Um Kalthoum at the Grand Egyptian Museum.

21-22 February (Wednesday-Thursday): Omar KhairatHafliti concert at the Cairo Opera House.

24 February (Saturday): Fatma, Marcia and Rachel tour with Qahrawya.

24 February (Saturday): Gheer La2eq comedy show at Theatro Arkan.

MARCH

1 March (Friday): Cairo Half Marathon by Cairo Runners.

1 March (Friday): Tough Mudder Egypt by TriFactory.

2 March (Saturday): CSI Cairo by CluedUpp.

9 March (Saturday): Wadi Degla clean up event at Wadi Degla Protectorate.

11-12 March (Monday-Tuesday): Creative Industry Summit.

11 March (Monday): The Oscars

APRIL

9 April (Tuesday): Eid El Fitr (TBC).

25 April (Thursday): National holiday in observance of Sinai Liberation Day (TBC).

MAY

1 May (Wednesday): National holiday in observance of Labor Day (TBC).

5 May (Sunday): Coptic Easter.

6 May (Monday): Sham El Nessim (TBC).

JUNE

15-19 June (Saturday-Wednesday): Eid El Adha (TBC).

30 June (Sunday): June 30 Revolution Day (TBC).

JULY

7 July (Sunday): National holiday in observance of Islamic New Year (TBC).

23 July (Tuesday): Revolution Day (TBC).

SEPTEMBER

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

OCTOBER

6 October (Sunday): Armed Forces Day.

EVENTS WITH NO SET DATE

2023: The inauguration of the Grand Egyptian Museum.

Q1 2024: Opening of the newly developed Pyramids Plateau in Giza.

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