Good afternoon, ladies and gentlemen, and happy hump day. The news cycle hasn’t let up yet as we are bracing ourselves for a busy end of the week.
THE BIG STORY TODAY-
Another 1 GW solar plant by Scatec is officially underway: Norwegian renewables developer Scatec is set to build a 1-GW solar power plant to generate energy for EgyptAlum’s Nagaa Hammadi industrial complex under an agreement inked by the two parties, according to a ministrystatement. The move is part of state-owned EgyptAlum’s plan to ramp up production, comply with global sustainability and manufacturing standards, and lower its carbon footprint.
We knew this was coming:We first heard about the Nagaa Hammadi solar power plant lastmonth, when the Public Enterprises Ministry announced that it had opened talks with Scatec over the project.
The timeline: The first 500-MW phase of the project will be completed within 18 months, while the second phase is set to wrap up in two years.
Scatec is doing some heavy lifting: The developer will finance the project, conduct studies, build the plant, and install the needed equipment.
Hamas political bureau chief is in town: A Hamas delegation led by Ismail Haniyah are holding talks with Egyptian officials about developments of ceasefire talks amid persistent Israeli aggression, Hamas said in a statement on Telegram.
THE BIG STORY ABROAD
Neuralink is gaining traction in the international press this afternoon: A patient implanted with the brain tech can now control a computer mouse using their mind without any visible side effects, Elon Musk said in an X Spaces session. After receiving their FDA approval in May, Musk’s startup installed the first implant in January using a robot. Neuralink’s goal is for humans to control tech using their brains as well as restore lost vision, motor skills, and speech, but the rigorous testing process means it will be a while before FDA approval. (CNBC)
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2024 off to a good start despite regional tensions: Tourist arrivals in the first 40 days of this year were up 5% from the same period last year.
We’re getting more gas from Israel: The Israeli Energy Ministry has greenlit an agreement that will see Israel increase its gas exports to Egypt from Chevron’s offshore Tamar field starting July 2025.
Macroeconomic challenges weighed on M&As last year: Egypt saw a 53% y-o-y decrease in the number of mergers and acquisitions in 2023 to 139 transactions, whose total value also dropped 62% to USD 3.5 bn amid geopolitical and macroeconomic challenges.
?️ TOMORROW’S WEATHER- Expect a mostly sunny day with some clouds as the mercury reaches a high of 22°C during the day and drops to a low of 13°C in the evening, according to our favorite weather app.
Could dialects make a difference in how comfortable we are with socialrobots? It depends on the context. Researchers in Germany conducteda study with 120 people in Berlin and Brandenburg, showing the participants videos of a robot using either standard German or the friendly, working-class Berlin dialect. After watching, the participants were asked to rate it on trustworthiness and competence, according to Tech Xplore.
Respondents familiar with the Berlin dialect preferred the robot using it— despite competency being linked to the robot using the standard German. The scientists identified that a dialect creates a sense of belonging to a group, so when a robot uses it, it emits a certain degree of familiarity — humans feel like they are like them. However, a dialect that may be associated with prestige or privilege may also impact the people who are on the receiving end differently.
Code-switching robots? For social robots to fulfill their purpose — to teach, care for, or comfort people — they must be perceived as trustworthy. The results of the study contribute to research on the mental workload that people experience as they interact with social robots. Mixed results aside, now the focus can shift to the people involved who shape the preferences and also conduct real-life interactions between humans and the social robots, explain the scientists in their research.
A true-crime podcaster gets her life wrapped up in an unsolved murder in Truth Be Told. Poppy (Octavia Spencer) is asked to look into the murder of a father of two identical twins and incriminates a man who almost a decade later appears to be innocent as new information surfaces — suggesting that he might have been framed for the crime. Poppy now has to figure out what the real truth is and uncover the family’s secrets in the process.
Co-stars may outshine Spencer: Co-stars Lizzy Caplan and Aaron Paul deliver phenomenal performances. However, Spencer falls short of delivering her best work in the series, possibly due to the occasional odd writing. Moreover, her character is portrayed as rather unlikable. In Season 2 though, Kate Hudson joins the cast and helps propel the show forward but we’re not buying into their onscreen chemistry.
The show can be a bit slow at times, especially in later seasons, but it’s cool to see someone play around with the true-crime podcast trend. By starting each episode with Poppy’s podcast segment — which feels like you’re being told a story — viewers are easily hooked onto the episode and since there are three seasons, this show is bingable.
⚽ And the champions are back: Inter Milan hosts Atletico Madrid at 10pm in the round of 16 of the Champions League. Over in Signal Iduna Park stadium, Borussia Dortmund meets PSV Eindhoven at the same time.
Only one match in the Premier League: Manchester City and Brentford will have a face-off on matchday 25 of the English Premier League at 9:30pm. Arsenal holds the second spot with a two-point lead over City who hope — with a successful match — to push out the Gunners and shrink the gap between them and Liverpool (who are currently in first place) to only one point.
Wrapping up round 13 of the Egyptian League:
Ceramica Cleopatra vs El Gouna (4pm)
Al Masry vs Baladeyet El Mahalla (7pm)
El Dakhleya vs Pharco (7pm)
Related
? OUT AND ABOUT- (all times CLT)
MUSIC-
Renowned musician and composer Omar Khairat will be gracing the stage again at the Egyptian Opera House for two nights tomorrow and on Thursday at the Grand Theatre at 8pm. The tickets are currently sold out.
Sharmoofers will be performing the same night tomorrow at Cairo Jazz Club 610. Message CJC on their Facebook or Instagram page to book your tickets.
Don’t miss Hisham Abbas and Hamid El Shari this Friday, 23 February at CJC 610’s round of Ma Yatlobohoo El Mostame3oon. The duo will deliver all the hits you love and will feature DJ Andy Cheikho to set the mood. Message CJC to find out how to book your spot.
ROOM New Cairo is hosting Hardcase and Divine, two bands hot on the Egyptian rock scene. Hardcase will perform covers from legendary artists such as Beth Hart to Guns & Roses. Divine will be providing tunes by Black Sabbath and Dio. Doors open at 8:30pm on Tuesday, February 27. You can snag your tickets for EGP 200, but they don’t include the required minimum order per person.
Get ready to be mesmerized as Aziz Maraka takes the Cairo Jazz Club 610 stage next Wednesday, 28 February. Get your tickets today to book your seat to hear him sing in an unforgettable performance from CJC 610’s Facebook page.
Ali El Haggar is taking the stage at Elsawy Culturewheel on Wednesday, 28 February. The performance will begin at 8pm at the Zamalek venue. Keep in mind that photos and video recordings are not allowed, as are children under six years of age. Tickets are selling out fast — grab yours here.
ENTERTAINMENT-
Laugh at love and all the times it has gone awry at Cairo Jazz Club 610’s Al Hob Fain interactive show. Tonight, tell your stories of woes and heartbreak and they’ll help you find true love — in a comedic, dramatic, romantic, and musical way. For reservations message their Facebook page.
Comedian Mohamed Helmy and podcast host Alaa ElSheikh are taking to the stage once more in HelmyMan’s Podcast 3alMasra7 at Zed Park this Friday, 23 February. Tickets are available here and range from EGP 375 to EGP 675.
Already have plans or just want an extra dose of giggles? ROOM New Cairo is hosting the Konafa Comedy Night on Saturday, February 24. The five comedians will be starting their performance at 9pm, but doors open at 8:30pm. Tickets are available for EGP 200, but does not include the one minimum order required.
SPORTS-
Double Dribble Leagues has got all basketball enthusiasts covered. Running until this Friday, 23 February, the weekly mixed league hosted at the Maadi Sporting and Yacht Club is for anyone who wants to live out their baller dreams or stay fit while having fun.
The Cairo Half Marathon is taking place soon: 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.
FILM-
Gaza Mon Amour will be screened at Qahrawya next Thursday, 29 February from 8pm till 11pm. Get your tickets here.
ARTS-
Bibliothek Gallery’s new curated exhibition, Lines of Intimacy, explores the possibilities of printmaking. The exhibition features three artists crossing boundaries through their work and is open daily from 10am to 10pm until Saturday, 2 March.
EVENTS-
AUC’s Business Forward Annual Event keynote speaker is an AI avatar. AUC’s School of Business is holding its annual Business Forward event on Sunday, February 25 from 11am to 4pm, focusing on AI. The keynote speaker, Vicky, is a humanoid avatar for Generative AI and will be engaging in a discussion on AI’s transformational prospects on individual, business, and economic levels. She will be joined by human panelists as well — you can check the agenda here, and register your attendance here.
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 next Saturday, 2 March where you have to solve four murders around the city by solving puzzles, interrogating witnesses, and hunting for clues. Find more details here.
The Dark Histories Podcast reveals mysteries and unlocks the secrets of historical true crimes.In its eighth season, the podcast, hosted by Ben Cutmore, has a story-telling approach as it delves into the past and tries to uncover the truth.
What sets it apart is its attention to detail and thorough research. The host leaves no stone unturned as he deconstructs each case: From infamous crimes to paranormal phenomena, using historical records, eyewitness accounts, and expert analysis to paint the picture.
It’s a must-listen for fans of history, mystery, and the grim.While it won’t frighten you (if you’re a fan of Dahmer or Ted Bundy series) but the narrator’s slightly monotonous voice may put you to sleep. A word of caution though, this podcast isn’t for the school run — try to avoid listening to it with minors.
The EGX30 fell 0.4% at today’s close on turnover of EGP 7.7 bn (95.5% above the 90-day average). Regional investors were net sellers. The index is up 17.8% YTD.
In the green: Palm Hills Development (+10.1%), Ibnsina Pharma (+6.3%), and Eipico (+2.6%).
In the red: Beltone Holding (-3.5%), GB Corp (-3.1%), and Egypt Kuwait Holding (-2.0%).
OUR FOUNDER OF THE WEEK- Every Tuesday, Founder of the Week looks at how a successful member of Egypt’s startup community got their big break, asks about their experiences running a business, and gets their advice for budding entrepreneurs. Speaking to us this week is Youssef Elgarhy (LinkedIn), co-founder and CEO of Gusto Foods Egypt.
My name is Youssef Elgarhy, and I’m the co-founder and CEO of Gusto, a local luxury ingredients supplier. The idea for Gusto came into being when we noticed that most of the ingredients we use in our kitchens were imported. As inflation climbed and hard currency became more scarce, many of the products we used became either more expensive or unavailable altogether. So we decided to do something about it — and launched Gusto to replace imported ingredients with high-quality and locally sourced alternatives.
I began my career in an entirely different field, but I brought the skills I learned into how I do business now. I studied Computer Science at MSA University, which helped me analyze everything down to its smallest detail, and fostered an interest in understanding how things work and how they’re used.
Once I graduated, I applied to Orange Business Services as a call center agent, where I was introduced to customer service excellence. My problem-solving skills led to my promotion to problem expert and to team leader shortly thereafter. To this day, customer experience remains my first priority within all the businesses I operate.
We decided to introduce ourselves to the market with truffles. While exploring the industry, we discovered a high demand for truffles and noticed a lack of significant efforts to source the ingredients locally. That’s where we jumped in.
What makes us stand out is that we want our ingredients to compete with imported products — not just on the shelf — but in quality as well. We constantly monitor market demand and that can be sustainable for our business. However, what we take immense pride in are our after-sales services and the enduring partnerships we’ve cultivated for the long term.
We knew we were successful once we received our first re-order from a major restaurant chain. We didn’t doubt that we had a great product, but it was great to receive confirmation that it was working well in a professional kitchen.
Our goals are set based on the client feedback we get as well as market trends. For our short-term objectives, we’re focused on launching a few more exotic products. Our long-term target is to see our items on the shelves of more food service outlets, with the ultimate aim of expanding into new markets in the region.
We’re trying not to let the current economic climate affect our timeline, but it’s a very challenging period to be doing business in. Getting raw materials is becoming harder, and daily fluctuations cause prices to skyrocket. Despite the constant challenges pushing our limits ,our core values remain the same. We are dedicated to maintaining strong relationships with our suppliers and our clients, and to taking care of our team during these difficult times.
What we want to change isn’t limited to our industry — we believe that distrust in Egyptian products is a mindset that needs to change. This belief is understandable, given that many consumers have lost faith due to many suppliers and business owners consistently cutting corners to save money and as a result supply inferior products. This is one of the reasons we are seeing resistance from chefs who are used to working with imported ingredients.
With the challenges we face importing goods, local businesses have the chance to improve their products and change this misconception. We can already see numerous local products that are on par with imported ones — if not better — and most business owners are turning their focus to quality, not just bottom line. Little by little, we will be able to earn the customers’ trust back.
Another thing we’d like to see is formal culinary education. We have a huge gap when it comes to culinary schools, which makes it very difficult to foster professional development and high-level caliber in the kitchen.
Sometimes you have to teach yourself to develop your skills, which is what I’m doing at the moment. I’m reading a book about barbecuing, which is the newest passion I’ve developed, and one that I’ve also turned into a profession. I’ve channeled this interest into Smokesmen, a BBQ experience. It’s always been a dream of mine to own a restaurant, so I’m slowly turning this new hobby into a full-time job.
I believe that if I wasn’t the brain behind Gusto, I would be the brain behind something else. I enjoy exploring new things and am always on the lookout for my next passion. I’ve made a bit of a habit of turning my passions into businesses.
That’s why if I could tell my younger self one thing about setting up a business, it would be not to be afraid to take risks, and not to drag your feet. The right circumstances will only come along when you pursue them.
If I could extend advice to new entrepreneurs as well, I would tell them that a passionate co-founder and partner is better than a skilled one. You can develop skills, or hire skilled team members, but you can’t buy enthusiasm. Take care of the people who help you build your business — investing in your team is the only way to grow. Also, welcome change — don’t get stuck in your comfort zone. Instead, take calculated risks and wait for the rewards. It takes time, but if you have a plan and know your client will, it’ll pay off.