Good afternoon, friends, and happy Mother’s Day to all the moms (and honorary mothers) out there. We hope you each get the love, appreciation, and recognition you deserve today.
THE BIG STORY TODAY
Two foreign companies have submitted investment proposals worth a combined USD 270 mn to set up sodium cyanide facilities in Egypt, Asharq Business reports, citing two government sources. The proposals include one from Germany’s CyPlus to set up a USD 150 mn factory that would produce 30k tonnes of sodium cyanide per annum, and a separate USD 120 mn factory from an Austrian company.
State gas firm EGAS has signed off on the two companies’ requests for natural gas supplies for the factories, one of the sources is quoted as saying. The companies are currently looking at setting up their factories either in Alexandria or Ain Sokhna, the source said.
What is sodium cyanide? The solution is commonly used for gold extraction from low-grade ore, and can be used to extract other metals, including copper, zinc, and silver.
THE BIG STORY ABROAD
Leading the conversation in the western news is the Bank of England’s decision to hold rates: Keeping rates at 5.25% came a day after the US Federal Reserve kept their interest rates as is. The BoE’s Monetary Policy Committee maintained the rate at this level for the fifth consecutive time. (Financial Times | CNBC)
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Valu is coming to the EGX: EFG Holding’s fintech platform Valu plans to offer up to 25% of its shares on the EGX within a year. EFG Holding will announce more details “as soon as its board of directors makes a decision on this matter,” the company said in a disclosure to the EGX today (pdf).
The banking sector wrapped up 2023 with a slight decline in the capital adequacy ratio, with the metric hitting 18.6%, compared to the 19% recorded a year earlier.
Solar-powered farming is threatening underground water: Farming that relies on solar-powered irrigation pumps has become widely popular in water-starved regions, largely because the pumps can help cut costs and make crop cultivation easier, according to Wired. But while the technology has gained popularity in these areas, these pumps are also causing a big long-term problem with water reserves, Wired reports.
How do they work? The pumps tap into underground water reserves (also known as aquifers) at no cost and allow farmers to keep going all day long thanks to the power of the sun.
There’s a lot of benefits: In addition to providing farmers with more water supplies to irrigate their crops — particularly those that are water-intensive — using solar-powered pumps slashes CO2 emissions compared to relying on their diesel-powered counterparts. They also provide relief from some demand on national electricity grids from non-solar pumps. Solar-powered pumps also help farmers end their reliance on rainwater for irrigation.
But these pumps are “rapidly turning into an environmental time bomb”: They’re pushing a “global threat to food security,”says researcher of sustainability of farming systems Meha Jain.These solar-powered pumps are sucking up underground water faster than it can be replenished by rainfall. Irrigation already uses up to 70% of the world’s underground water, which is more than what’s getting replaced by rain. In some locations, water levels are dropping by c. three feet or more per year, Wired explains.
A story of miscarriages and the taboos surrounding surrogacy: Selat Rahem, airing during the first half of Ramadan, follows anesthesiologist Hossam (Eyad Nassar) and his wife Laila (Yousra El Lozy), who finally become pregnant after years of trying to conceive. In a tragic turn of events, Laila not only loses the baby, but has to have her uterus removed. To relieve his wife’s grief, Hossam resorts to looking for an alternate solution for having children.
Hoping to find a surrogate, Hossam turns to his colleague Khaled (Mohamed Gomaa) — whom he knows performs illegal abortions — asking him to help him with the process. Hossam hopes to use Laila’s eggs — which she had previously frozen — for an IVF procedure without her knowledge. He finds Hanan (Asmaa Abulyazid), who agrees to carry their child for a fee, again without Laila’s knowledge.
The series discusses several controversial topics in addition to surrogacy, including abortion, domestic violence, and infidelity. Nassar (whose character is almost impossible to sympathize with), El Lozy, and Abulyazid all deliver masterclass performances that make the show a must-watch. There are also several new faces that helped make the series much more realistic and diversify the faces we see on screen.
But some episodes feel drawn out by scenes we felt were unnecessary and could have been removed without affecting the plot. That being said, the creators still succeed in delivering highly compelling ideas that will keep you thinking until the next episode.
Disclaimer: The show is definitely not family-friendly. Sensitive topics are at the core of the plot, and, along with some graphic scenes, may not be suitable for everyone.
WHERE TO WATCH- If you can handle a dose of drama at Iftar, you can find Selat Rahem on Shahid or catch the trailer here (watch, runtime: 0:40).
Related
⚽ The friendly Egypt Capital Cup will kick off tomorrow with four national teams:Egypt, Tunisia, Croatia, and New Zealand. The competition is slated to end on Tuesday, 26 March.
First game under Hossam Hassan: For the first time the Egyptian national team will be led by the newly-appointed coach Hossam Hassan and his twin brother Ibrahim as the team director when they play against New Zealand tomorrow at 10pm. It will also be the first game ever to be hosted at Egypt Stadium in the new administrative capital. The Pharaohs will miss their team captain Mohamed Salah who requested not to participate in the friendly tournament.
Croatia and Tunisia will go head to head at 10pm on Saturday at Cairo International Stadium. The victors of two games will qualify for the final at the Egypt Stadium at 10pm on Tuesday. Meanwhile, the defeated teams of both fixtures will compete for third place at the same time at Cairo International Stadium. Get your tickets from Tazkarti.
But wait, there is a whole slew of other international friendly matches that await us tonight and this weekend:
Portugal vs Sweden (Thursday, 9:45pm)
Italy vs Venezuela (Thursday, 11pm)
Netherlands vs Scotland (Friday, 9:45pm)
Spain vs Colombia (Friday, 10:30pm)
England vs Brazil (Saturday, 9pm)
France vs Germany (Saturday,10pm)
Related
? OUT AND ABOUT- (all times CLT)
TONIGHT-
Can’t keep track of which suhoor tent is up when? Layaly HydeOut is making it easy for you — they’re open all month with HekaytnaHelwa at Hyde Park. In addition to a set Suhoor menu, weekdays feature oud and takht sharqi music, and weekends will host superstar performers, including comedian Mohamed Helmytonight and super star Hakim tomorrow. Tickets from 21 to 27 March are available now.
There’s no shortage of comedy at ROOM. Six comedians are laying it all on the table tonight at the space’s Garden City branch for The Mad Day. Doors open at 8:30pm.
Give back to your community this Ramadan at the CLEG art gallery’s Changing Livesexhibition. In this annual charity exhibition, in collaboration with Resalet Nour Ala Nour, everyday, from 11am - 4pm until Tuesday, 9 April the gallery will be showcasing the works of 40 talented artists focusing on supporting underprivileged children's education in Egypt through Kindergartens and Educational Centers managed by the Resalet Nour Ala Nour NGO. Proceeds from the event will aid a special needs center, providing vital services to individuals with disabilities and fostering their integration into society.
TOMORROW-
Nurture your connection with our cultural heritage with Megawra. Their three-day Spendthe Day in Khalifa event is taking place tomorrow and Saturday, and Friday, 29 March. The event focuses on connecting space, place, and people at al-Khalifa Park and al-Khalifa Community Center.
Looking to do some good without skimping on the fun?Tomorrow join Dayma in celebrating World Water Day with a clean-up followed by a delicious Iftar and some trivia. Head over to the Qursaya crossing to VeryNile headquarters on the island this Friday at 3pm. Bring your teens along for some community building. The EGP 850 fee includes activities, food, drinks, and the ferry. Don’t forget your refillable water bottle. You can register here.
Take a step back in cinematic history at Zawya Cinema screening the beloved classic Khali Balak Min Zouzou. This Saturday and Sunday, 24 March, you’ll get to watch this timeless gem directed by the iconic filmmaker Hassan El Imam, promising an evening of laughter and nostalgia. Get your tickets here.
Spice up your love life with ROOM’s live dating show Al Khatba with ElMothalas. This Sunday, 24 March, Ali, Salma, and Weza are going to help you find, potentially, the love of your life. It's interactive, it's wild, and it's all about you — and in this show, the audience calls the shots. So, if you're ready to take control of your love destiny, get your tickets here.
Dive into the ancient art of Bukhoor making at Neo. This weekend try out this Egyptian tradition that dates back to the time of the pharaohs: Bukhoor making. From hand-picking the finest ingredients to crafting your own Bukhoor Cones. For reservations DM their Instagram page.
Skip the dessert and enjoy an evening of laughter at Majarrah with Egyptian comedianAlaa El Sheikhtomorrow. You’ll have an evening of Alaa's humor alongside delicious Ramadan delicacies, a suhoor filled with fun and laughter. Tickets are selling out so get your tickets quick at Ticketsmarche.
Related
? EARS TO THE GROUND-
Last-minute iftar or brain fog with no iftar or suhoor ideas? Dinner SOS will help you whip up something new. The podcast is produced by Bon Appétit, a food publication designed to create quick recipes for when you are stuck or too lazy to use your imagination.
Hosted by food director Chris Morocco and several culinary experts, each episode addresses specific culinary dilemmas and proposes solutions that many listeners have praised.
Morocco takes in questions and requests viaemail. If you manage to tell him ahead of time he’ll cook the meal in question or answer the conundrum you have — if only he could deliver, too. You can also just listen to each episode and glean some kitchen wisdom.
The EGX30 rose 1.6% at today’s close on turnover of EGP 3.7 bn (25.3% below the 90-day average). Local investors were net buyers. The index is up 16.7% YTD.
In the green: Qalaa Holdings (+10.2%), E-finance (+9.5%) and Sidi Kerir Petrochemicals (+8.5%).
In the red: Edita (-5.0%), Talaat Moustafa Group (-3.3%) and Juhayna (-2.2%).
Good news from the 2024 World Happiness Report: Happiness isn’t all downhill after our glory days. This year’s report focuses on how happiness fluctuates through different stages of life, finding that young adults’ happiness has been declining, but older adults’ satisfaction levels give us hope that it does get better.
The World Happiness Report (WHR) is an annual publication that tracks life satisfaction around the world. While they do use the information to rank countries based on how happy their citizens report being, it also goes beyond the numbers.
The happiest country in the world is… Finland. For the seventh year in a row, in fact. On a ten-point scale, Finland’s average life evaluation score came out at 7.74. There must be something in the water up in Scandanavia, as all five Nordic countries find themselves in the top 10, with Denmark giving Finland a run for its money with a score of 7.58. The least happy country in the world is Afghanistan, with a score of 1.72.
How did we fare? The happiness level of Om El Donia falls at 3.97, the lowest of our neighbors, with Saudi Arabia clocking at 6.59, Libya at 5.86, Tunisia at 4.42, Algeria at 5.36, and Morocco at 4.79. Of 143 countries polled, we sit at 127.
How do you measure happiness? Traditional metrics like GDP, household income, and unemployment focus on the technicalities of human behavior, but they don’t tell us anything about people’s happiness. WHR digs deeper into the rankings, using data gathered by Gallup on life evaluations, which surveys over 100k people across 130 countries.
Policymakers can no longer assume that their citizens’ happiness improves alongside the country’s GDP. Gallup’s World Poll assesses factors that contribute to happiness, like social support, good health, and a sense of purpose in life. WHR’s analysis of this data can be valuable for policymakers who want to create policies that promote the well-being of their constituents.
The lowdown:Historically, WHR data has shown that young adults aged 15-24 tend to be happier than older adults. The regular trend was happiness levels tend to decline after 24 but recover substantially once people reach middle age. This year, however, WHR reports that the happiness of that age group in the US, which has declined sharply since the late 2000s, is now lower than that of older people.
The sky’s always sunny in Europe, but we’ve seen better days. Central and Eastern Europe have seen a sharp rise of happiness at every age, as have countries in the former Soviet Union and East Asia. Happiness in the Middle East and North Africa shows a bleaker view, with happiness falling for every age group.
Boomers are leading the happiness game. The study shows that starting with Millennials in 1980, happiness has fallen y-o-y across the board, but anyone born before 1965 has seen life evaluation scores rise. So much so in fact that the happiness gap has increased by more than 20% over the past 12 years on every continent except Europe.
While people born after 1980 have reported decreasing life satisfaction levels, the study interestingly shows that they are more likely than other generations to help others in need. That’s not to say that older people turn a blind eye — the pandemic led to a significant worldwide and age-wide increase in benevolence.
The kids are alright… Right? Youth well-being has risen in most parts of the world, but North America, Western Europe, South Asia, and the MENA region have seen a decline in life satisfaction in youths. Evidence for children aged 10-15 is limited, but one thing we can tell is that girls have been steadily becoming less happy since 2019.
Is the pandemic to blame? WHR reported that prior to the pandemic, adolescent happiness was on the rise, especially in Sub-Saharan Africa. The trend took a turn for the worse during- and post-pandemic, and while the report doesn’t tie it in with the sharp increase in social media use since Covid-19, studies show that we now spend 20% more time on our phones.
The answer to happiness may be building a strong community. The study finds that social support affects happiness more than any other metric. Interestingly, the same trend of older adults being happier than younger adults correlates with the trend of both age groups’ feelings of social support. Older members of the population feel more socially supported than younger generations, even though the first group reports having less frequent actual interactions except with neighbors and community members.
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