Good afternoon, ladies and gentlemen, and happy almost-Thursday. Looks like the newscycle is not letting up as we inch closer to the weekend.
PSA #1- EgyptAir has temporarily suspended flights between Cairo and Dubai in both directions after yesterday’s bout of torrential rain in the UAE flooded out Dubai International Airport, the company said this morning. Flights will resume when “weather conditions in Dubai improve and aircraft are allowed to land and take off again,” the national flag carrier said, without providing an exact time or date. Tap or click the statement here for a list of ways to contact the company in case of inquiries.
PSA #2- We’re in for a long weekend next week: Thursday, 25 April is off in observance of Sinai Liberation Day, as decreed by a decision issued by Prime Minister Moustafa Mabdouly today. The day is an official holiday for all public and private sector workers.
THE BIG STORIES TODAY
ِ#1- More on next year’s budget: The Finance Ministry released its preliminarybudget report for fiscal year 2024-2025 (pdf) today, giving us a peek at the government’s growth, inflation, deficit, and primary surplus targets for the year to come.
A quick rundown: Growth projection slashed again to 4.0% | Inflation targets revised upwards to an average of 18.1% | Budget deficit to widen a slight 0.1 percentage points to 7.3% | Primary surplus to increase 1 percentage point to 3.5%.
#2- PHD teams up with Cleopatra Group for a North Coast project: Real estate developer Palm Hills Development (PHD) agreed with Cleopatra Group to develop a new project in North Coast’s Sidi Haneish, sources told Asharq Business. The project is expected to generate revenues of over EGP 100 bn within seven years with PHD taking a 67% cut of the revenues, the sources said.
THE BIG STORY ABROAD
UAE’s unprecedented torrential storm is dominating the front pages of the foreign press: The UAE today was clearing debris after the country was struck yesterday by the heaviest rain ever recorded in its history. The rain, which state-run WAM news agency describes as “surpassing anything documented since the start of data collection in 1949”, killed at least one, left cars stranded on flooded roads, and flooded out Dubai International Airport, prompting Emirates airline to suspend all passenger check-ins today. There have been mixed reports on whether cloud seeding by the UAE government could have triggered the floods, with some outlets saying that the National Center for Meteorology has denied that seeding took place before the outpour despite the country’s frequent seeding operations since 2002.
Egyptian exports on the rise: Egypt’s exports grew 5.3% y-o-y in the first three months of the year to total USD 9.6 bn.
Higher finance costs, lower revenues hit Macro Group’s bottomline: Pharma and cosmeceuticals firm Macro Group turned to losses in 2023 on the back of a dip in revenues and higher financing costs.
☀️ TOMORROW’S WEATHER- Another warm day tomorrow, with the mercury climbing to 31°C and dropping to a low of 22°C, according to our favorite weather app.
YouTube steps up its war on ad blockers: YouTube is strengthening its crackdown on third-party ad-blocking apps, it said in a blog post yesterday. The platform has introduced a restriction that should result in buffering issues or produce an error message saying “the following content is not available on this app” for viewers using third-party ad-blocking apps, it said.
In context: Last year the video streaming service “launched a global effort” to encourage users to allow ads or switch to YouTube Premium, YouTube communications manager Christopher Lawton told The Verge back in October of last year. Viewers using ad blockers were presented with the message, “Video playback is blocked unless YouTube is allowlisted or the ad blocker is disabled.”
The rationale: Ad blockers mean that creators miss out on ad revenues, YouTube argues. The platform’s policies “don’t allow third-party apps to turn off ads because that prevents the creator from being rewarded for viewership,” it said. “Ads on YouTube help support creators and let billions of people around the world use the streaming service.”
FYI- The YouTube Partner Program (YPP) allows creators who meet certain criteria to monetize their content in a number of ways, including revenue sharing from ads being served on their videos.
Loopholes could still be present: The crackdown targets third-party apps that use YouTube’s API to block out ads. AdGuard says it’s not affected by the restriction because it doesn’t use YouTube’s API.
(Fake) true crime:Obvious signs of AI-manipulation — from mangled and missing body parts and facial features to strange artifacts — have been spotted in Netflix’s latest true crime documentary What Jennifer Did, prompting viewers to question the veracity of the images shown, writes Futurism. The allegations have implications as Jennifer Pan, the subject of the documentary, is currently in prison awaiting retrial for the murder of her parents.
Has our obsession with true crime gone too far? Netflix’s new doc is an example of the “true crime industrial complex” catering to an “all-consuming and endless” appetite amongst viewers for violent content, journalist Karen K Ho writes in CBC. The entrance of AI-manipulated images to tell these stories may indicate that our desire for content has exceeded our need for the truth. Plus, with no specific laws governing the use of AI-generated content, streamer’s like Netflix will face few penalties.
Scoop: A replay and in-depth re-telling of Prince Andrew’s 2019 interview and what went on behind the scenes to sit with the royal. From the director who brought us the famed series The Crown, Director Philip Martin brings a tense atmosphere to Scoop, a film depicting the explosive Newsnight interview where Emily Maitlis (Gilian Anderson) confronts Prince Andrew (Rufus Sewell) about his association with Jeffrey Epstein.
At one point Andrew plays second fiddle to the story of the women who got him in the interviewing chair. While the interview led to public condemnation and the stripping of Andrew’s royal titles, Philip Martin’s fast-paced Netflix film veers away from exploring the repercussions, instead focusing on the intricate media maneuvers and highlighting the pivotal role of the women who orchestrated it all — as well as Sam McAlister (Billie Piper), the former Newsnight booker whose memoir inspired the screenplay, who also secured the interview.
McAlister, a single mother with a working-class background, faces pushback from her colleagues at the BBC, who perceive her approach to news as too tabloid-esque. As she navigates internal conflicts and navigates the complicated terrain of securing the interview, the film delves into the clash between traditional BBC values and the need for a more aggressive journalistic stance.
Everything changes when Epstein is arrested as it refocuses attention on Prince Andrew’s connections, prompting McAlister to intensify her efforts to secure the interview. While the film’s first half portrays McAlister as a determined protagonist, the narrative shifts once the interview is secured, placing emphasis on the high-stakes confrontation between Maitlis and Prince Andrew.
Despite its gripping portrayal of the interview, it doesn't offer any surprises to viewers familiar with the news media landscape of five years ago. The film condenses the aftermath into brief scenes and social media reactions, ultimately celebrating the influence of the national broadcaster in holding power accountable. However, it also highlights the enduring elite status of the royal family and the frustration of seeking complete truth and justice.
⚽ Who will take up the final seats in the Champions League semi-finals? Defending their title, Man City will be facing Real Madrid at Etihad Stadium in the most intense second leg match of the quarter finals — this comes after a heated draw of threes for each team.
Arsenal is going head to head again with Bayern Munich at the Allianz Arena in the second leg of the quarter finals, after both teams also drew in the first leg with 2-2 on the scoreboard.
Both matches will be at 9pm tonight, and the victors will go against each other in the semi-finals.
In Egyptian Premier League:
El Gouna vs Smouha (4pm)
Enppi vs El Dakhleya (7pm)
National Bank vs El Gaish (7pm)
Related
?EAT THIS TONIGHT-
Korba’s iconic Le Chantilly stands the test of time. Evey visit will bring reliable service, reliable food, and reliable crowds. The place is riddled with regulars on any given night if that gives you any indication of how much of a landmark it is.
Swiss and international cuisine you can count on: The restaurant provides a variety of meat and cheese options through “responsible purchasing decisions” and on a decently sized menu. They pride themselves on standing out in a world of frozen and pre-prepared foods as stated on their website. Aside from their delectable main courses, the joint offers dessert like chocolate and petit fours.
It’s a little on the costly side, but not as bad as other places of the same nature. They deliver on quality so we’d say it’s worth it. We personally enjoy the cordon bleu or any of their cheese dishes. Their meat selection is also all great so you can order your preference of cut and doneness. And did we mention their fondue?
Want to share the experience? They do catering as well. You can find more details on their website. If you choose to dine in however, they have both an outdoor and indoor area and there is no need for a reservation.
Related
? OUT AND ABOUT- (all times CLT)
HAPPENING THIS WEEK-
Mark your calendars for AUC’s CultureFest. This event — held at AUC Tahrir from today until Monday, 22 April — is a celebration of the Cairene spirit. Panel discussions about Cairo’s history, people, and evolving culture will kick off the festival, and will be accompanied by live music, a book bazaar, a local market, and art exhibitions. Register for the event here.
German electronic music group Keinemusik are performing at the Giza Pyramids for the first time on Friday, 19 April at 7pm. Tickets are selling out fast and are in their seventh wave, get them now on Ticketsmarche.
An Arabic adaptation of Federico García Lorca’s great tragedy, Blood Wedding will be showcased at Instituto Cervantes in Cairo on Thursday, 18 April and in Alexandria on Sunday, 21 April. The tickets are without charge but admission will not be allowed after curtains are raised at 8pm— so make sure you get there on time.
In collaboration with Tanmia Bookstores AUC Culture Tahrir Fest will be hosting a BookBazaar from tonight until Monday, 22 April from 10am-9pm. Lucky attendees could find books with 20% and up to 75% slashed off of their price. The bazaar is open to the public, all you have to do is pre-register your attendance here.
Fan-favorite spinners Disco Misr will be performing at CJC 610 along with Bakirthis Friday, 19 April. For reservations message their Facebook page.
Join From Waste To Good Taste in their Sustainable Design Initiative at The FactoryDowntown from Friday, 19 April till Sunday, 21 April. Environmental activists and influencers will come together to preach sustainability and how to adapt it in your everyday life. They are also offering workshops on how to upcycle and recycle old bits and pieces in your house to create fashionable or decorative items. Attendance is without charge all — you have to do is pre-register your attendance here.
Soothe your ears with an evening of classical music with the Cairo Symphony Orchestra at the Cairo Opera House in their performance of Great Symphonies IX and a collection of the world's most famous musical pieces led by Maestro Ahmed Saidi on Saturday, 20 April. The concert starts at 8pm, get your tickets at Tazkarti.
HAPPENING LATER-
Bibliothek Egypt is hosting a book signing for Noor Abdul El Majeed’s latest novel Siyadat al-Qadi on Monday, 22 April from 6:30pm.
Gamers, buckle up for Egypt’s biggest gaming festival:Insomnia is back at the InternationalExhibitions Center from Thursday, 25 April to Saturday, 27 April, making it an immersive weekend of quests, level-ups, and never ending clicking game experiences. Get your tickets here.
Butter by Asako Yuzuki is the perfect read for a night-in that combines food and murder with a gastronomical serial killer. With 23 novels under her belt attesting it's no surprise that Yuzuki is already one of Japan’s celebrated literary figures. However, Butter marks her debut into the English-reading market and what better entry to make other than with a murderess accused of seducing her rich victims with food and swindling them out of their money.
The story is centered around Manako Kajii. She is a captivating 35-year-old connoisseur imprisoned for the deaths of three men she lured with her culinary skills.
From Kajii’s tantalizing recipes on her blog to high-end restaurants and humble ramen shops, butter takes center stage, evoking sensations of pleasure and decadence with every bite.
Despite Kajii’s reluctance to engage with the media, a tenacious journalist Rika Machida stops at nothing to uncover the truth behind the enigmatic chef’s story. As their professional relationship blurs into an unlikely friendship, Machida finds herself drawn into Kajii’s world, even acting as her culinary proxy behind bars.
It’s a melting pot of genres: Blending the food with insights into Japan’s media landscape and societal expectations of women. While crime aficionados may find it lacking in traditional noir thrills, it offers a thought-provoking exploration of female identity and autonomy in a patriarchal society.
It’s a feast for the senses, tantalizing readers with its sumptuous descriptions of food while serving up a nuanced commentary on gender norms and societal pressures in contemporary Japan.
The EGX30 rose 0.9% at today’s close on turnover of EGP 4.8 bn (4.2% below the 90-day average). Foreign investors were net sellers. The index is up 19.2% YTD.
In the green: Orascom Development Egypt (+5.7%), Palm Hills Developments (+5.2%) and Elsewedy Electric (+3.6%).
In the red: Abu Qir Fertilizers (-1.8%), Abu Dhabi Islamic Bank (-1.7%) and Edita (-0.9%).