Good afternoon, ladies and gentlemen, and happy Monday from a very sunny Om El Donia. Ramadan is one week away — where did the time go?
Day one of the EFG Hermes One on One Conference is underway as we hit send, bringing together some 670 investors, 250 global institutions, and execs from over 215 companies. Under the theme Exploring the Depth of FEM, the conference will allow investors to “delve into the depth and breadth of the regional markets, identifying promising opportunities and navigating potential challenges,” EFG Hermes Group CEO Karim Awad said in a statement(pdf). The event — being held in collaboration with the Dubai Financial Market — is taking place at Dubai’s JW Marriott Hotel Marina and will run until Thursday.
** Enterprise is in Dubai for the conference and will bring you full coverage of day 1 in tomorrow’s EnterpriseAM Egypt.
Attending the conference? Shoot us an email on 1x1@enterprisemea.com if you want to have coffee or pitch us an interview.
THE BIG STORY TODAY-
Hassan Allam opens up Saudi HQ: Our friends at Hassan Allam Holding inaugurated their regional headquarters in Riyadh after securing its investment license from the Saudi Investment Ministry, the group said in a statement (pdf).The new HQ will monitor the group’s international operations. It will take care of business planning and development and managing HR, corporate communications, accounting, and financing, among other activities.
THE BIG STORY ABROAD
Apple’s hefty USD 1.95 bn lump sum EU antitrust fine is causing a lot of chatter in the international press. The fine, which is Apple’s first antitrust infringement from the EU and the third largest ever imposed by the European Commission, comes as a result of the company preventing music streaming services from disclosing alternative payment options to users outside of the App Store. Spotify triggered the legal action with a 2019 complaint over this and the 30% in App Store fees reflecting higher subscription costs for unaware users. The Commission also barred Apple from blocking apps from operating outside of the iOS software. The iPhone maker made it clear they would appeal the decision for failing to “uncover any credible evidence of consumer harm.” (Financial Times | CNBC | Reuters)
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Egypt to launch project to double the remainder of the Suez Canal: The government has conducted preliminary studies on a project to duplicate the remainder of the Suez Canal, Suez Canal Authority boss Osama Rabie said yesterday, adding that the studies have been presented to President Abdel Fattah El Sisi.
The Egypt Healthcare Authority (EHA) yesterday inked three cooperationprotocols with local and regional healthcare players as part of a wider plan to grow the local medical tourism industry.
☀️ TOMORROW’S WEATHER- Look out for sunny skies tomorrow in the capital city, starting off with a low of 13°C in the early morning before climbing up to a high of 27°C and dropping again to 14°C at night, according to our favorite weather app.
People testing positive for COVID-19 in the US don’t have to abide by the standard five-day isolation period as the CDC announced on Friday, according to CNN. The CDC is updating its COVID-19 guidelines to match how they handle other respiratory infections such as influenza and RSV. This is a significant shift from the previous five-day rule which health experts deemed crucial in curbing virus transmission.
Better immunity is behind this move, explains Dr. Mandy Cohen, director of the CDC, adding that it means that there is a more seasonal expectation of COVID-19 infections during the warmer and colder months. Also, hospitalizations and deaths have decreased significantly since 2020 and 2021.
New guidelines advise people to stay home until they are fever-free for 24 hourswithout medication and their symptoms have improved. After meeting these conditions, they can return to their usual activities, but the CDC recommends additional precautions for the next five days, such as airing a space, wearing a mask and not to get too close to others to cut down the spread of the virus. This is particularly important for geriatrics and the immunocompromised.
The CDC emphasizes the importance of vaccines and early treatment for COVID-19 symptoms. Plans for a fall vaccine update in the US are in progress, with booster shots recommended for those 65 and older.
Hearing loss could be a sign of more serious illnesses. People not speaking clearly all of a sudden or difficulty focusing on more than one conversation in a noisy environment could be signs that you’re beginning to experience hearing loss, according to Frank Lin, director of the Cochlear Center for Hearing and Public Health at Johns Hopkins University. What matters here is that this hearing loss can be linked to bigger ailments: Dementia, depression and or loss of balance that could impact your physical health further, reports the New York Times.
Do you remember the last time you tested your hearing? Neither do we. If the last time you had your ears tested was in your teens then it is time to drive up to a specialist and have your hearing checked. You can also try out an online hearing test, there are plenty available to try, but it still doesn't replace getting your hearing evaluated by a pro.
#2- Wear protective gear — and no, your headphones won’t help, but ear plugs will. You can wear them in places where the decibel level will be high. Don’t know what the decibel level is? You can use this app to check.
#3- No shame in wearing hearing aids: Like we said, you might think that you’re not there yet, but using a hearing aid can help slow cognitive decline, according to Jennifer Gonzalez, audiologist at the Mayo Clinic and quoted in the NYT. Now, the aids are more available than ever, less bulky, and compatible with bluetooth devices.
In The Tourist, the main character knows as little as you do. An Irish man named Elliot Stanley (Jamie Dornan) wakes up in a hospital in Australia with no memory of how he got there. As he tries to piece together clues to figure out what brought him to the Australian outback, members from his past are on his tail and he must evade them as he uncovers the truth.
While there is plenty of action and mystery — there are moments where the series can make you chuckle. Danielle Macdonald’s character, Helen, brings a heartwarming presence with her earnest performance who helps Elliot find his way. While it is a slow burn at times, the show will keep you hooked and entertained with the quirky and questionable figures you meet.
You might feel like you’ve seen this plot so many times before, but The Tourist keeps it fresh. The show is full of twists and turns and a complex plot that manages not to leave any loose threads behind. It can get complicated and dark though, but if you follow it through there is always a resolution.
⚽ Arsenal hosts Sheffield United at 10pm to wrap up gameweek 27 of the Premier League. The Gunners, in third place, are five points behind Liverpool in the top spot, and four points behind second-place’s City. Arsenal needs the win today if they want to stay in the fight for the title, which they’ve missed out on for 20 years now.
Inter Milan has the chance to widen the gap between them and their competition in the Serie A today, when they face off with Genoa tonight at 9:45pm as round 27 comes to a close. Inter is at the top of the league with a 12-point difference from Juventus in second place, whose downfall came yesterday in their match against the defending champion Napoli with a score of 2-1.
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?EAT THIS TONIGHT-
El Makhbaz El Lebnany El Asly is a quick fix for that shami craving. Hidden between long list of restaurants on Talabat, you’ll find this Lebanese delight that presents itself as a budget-friendly option of manakish only — and some traditional salads and appetizers — from the Lebanese kitchen.
What you see is what you get. Literally. The menu has a diverse array of manakish with different stuffing: Zaatar and labna, shish tawook, lahm arous and hummus, all at prices that undercut many competitors in the market.
Our choices were the plain shish tawook and halloumi cheese zaatar manoucheh plus hummus for dipping. Even though the chicken was plain and bland we believe that if we ordered it with the cheese it might’ve tasted better. The hummus dip did improve the bite, so we would suggest you go for an extra topping to make the pie more flavorful.
As for the cheese and zaatar mix,we gave it a solid 8/10. The zaatar was very fresh and fragrant but there was no cheese stretch — maybe stick it in the microwave for a good minute to activate that ooze? Other than that, this manoucheh tasted great on its own, or with the hummus — and finally, it goes without saying that we strongly recommend ordering their hummus.
It’s available on-ground and will deliver to Madinaty, Sixth October, Rehab, Sheikh Zayed, Maadi, and New Cairo — and if you opt for home delivery we can confirm that they’re quick on their feet. You’ll find their menu on Talabat.
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? OUT AND ABOUT- (all times CLT)
ARTS-
This rendition of Les Misérables isn’t like one you’ve seen before. Join us at the FalakiTheatre at AUC on Wednesday, 6 March at 7:30pm to witness director Mahmoud Gratsy’s take on this classic tale of independence. Gratsy uses puppets and shadow and object theater to explore the themes of Victor Hugo’s Les Mis in a mesmerizing performance that represented Om El Donia in the Arabic Institution Theater Festival this year. This event is for no charge, so get there early to grab some good seats.
Celebrate International Women’s Day with Echo Production’s Within a Day and Night performance. Friday, March 8 will see four women take to the stage to navigate the reality of social transformation in a satirical performance that discusses society’s commentary on women’s bodies, social status, and age. The show will begin at 7pm sharp at the French Institute.
Catch a glimpse of Egyptian cinema through Mohamed Bakr’s lens at Photopia in FiftyYears of Cinematic Portraits. This exhibition continues until Sunday, 10 March where you’ll get to see a selection of portraits taken from his extensive collection of over 2000 artistic works captured since 1956. The exhibition showcases around 100 images from 80 films, covering various genres including literature, cinema, performance, comedy, and realism.
Ring in Ramadan with a Game Night for a Cause.Rotaract Cairo, Makanuna, and Egypt’sKitchen are giving you the chance to have fun while raising funds for Ramadan iftar meals for those in need. Show up at Soul Lounge on Thursday, 7 March at 7pm for some friendly competition. 100% of the ticket proceeds go towards meal donations. Spots are limited, so snag a seat for this event while you can.
Tablet El Sitt are taking the stages alongside our ancestors at the Grand Egyptian Museum (GEM) on Friday, 8 March from 7pm. The all-female band is dedicated to resurrecting Egypt's ancient musical heritage, immersing yourself in the rich tapestry of Egyptian folk rhythms, vibrant singing, and dynamic dance performances. Get your tickets here and don’t miss out on this celebration of culture and tradition.
Let your inner star shine at Cairo Jazz Club 610’s Karaoke Night on Saturday, 9 March from 8pm. Gather your friends and take the stage this weekend to sing your favorite tunes. For reservations, message them on their Facebook page.
Take listening to cruisin’ and groovin’ up a notch at Cairo Jazz Club’s Taxi El Sahra nightthis Wednesday, 6 March from 9pm. The theme for this edition is our nostalgic friends Boogie and Tam Tam featuring Bakir and Andy Cheikho. For reservations, message them on their Facebook page.
Teach your kids about the importance of giving back today at PlayPoint’s Ramadan BoxPacking event for children. Starting at 4pm, you can join in to prepare boxes for those in need, followed up with an hour of fun at PlayPoint Sheikh Zayed on the house.
The internet is now the source of all the information we consume — can we trust it? As fake content with real-life consequences spreads like wildfire, the line between what is real and what is fake grows blurrier each day. A History of Fake Things on the Internet by Walter J. Scheirer traces how technology has brought us to the point where it’s almost impossible to distinguish between what’s true and what’s not.
Fake news. Trump may have claimed the term, but the phenomenon existed way before his presidency. Conspiracy theories and reports of the paranormal have existed for as long as we have, and image manipulation has been possible since nineteenth century darkrooms existed. But the internet is where it thrives. Scheirer investigates the origins of internet deception, from rumors that were born on Bulletin Board Systems and USENET (old school forums on the internet in its early days), and turned to legends through the then-new messaging technology called email.
Scheirer is an expert in machine learning and shares the intricacy of digital fakery and manipulation, how it works, and how it doesn’t. He poses an interesting question: Are these problems intrinsic to the internet, or to human behavior? Spoiler: Signs point to the latter. Scheirer meticulously demonstrates the boundless human capacity for creativity and for destruction through historical accounts and suggests that maybe it’s not as damning as we think it is.
You can find an ebook version of A History of Fake Things for USD 15.12 on Amazon, or in hardcover for USD 24.99.
The EGX30 rose 5.1% at today’s close on turnover of EGP 6.4 bn (46.4% above the 90-day average). Regional investors were net sellers. The index is up 22.7% YTD.
In the green: GB Corp (+17.0%), Talaat Moustafa Group (+15.4%) and Delta Sugar (+12.3%).
In the red: Orascom Construction (-3.1%), E-finance (-2.9%) and Eastern Company (-1.4%).
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