Remember: Investors have been loving Egypt’s short-term debt instruments post-float, with their confidence affirmed after the likes of JPMorgan and Citigroup recommended buying one-year EGP t-bills.
We’re not sure if the trend will persist: Earlier this month, foreign investors sold some USD600 mn worth of local debt instruments — 7-8% of total foreign investment in the market, according to Prime Minister Moustafa Madbouly — amid a global sell-off that wiped USD 6.4 tn from global stock markets.
THE BIG STORY ABROAD
It’s also shaping up to be a slow Monday in the international press, with no one story dominating the headlines. The one story worth noting follows the latest rounds to secure a ceasefire in Gaza — US Secretary of State Antony Blinken stated that the latest ceasefire proposal was likely to be the best and final chance Israel and Hamas have to secure a ceasefire agreement. His remarks came following meetings with Israeli President Isaac Herzog and Prime Minister Benjamin Netanyahu that took place in Tel Aviv earlier today.
Get Enterprise daily
The roundup of news and trends that move your markets and shape corporate agendas delivered straight to your inbox.
** CATCH UP QUICK on the top stories from today’s EnterpriseAM:
Waste-to-energy projects could soon play an important role in our energy mix: The government is set to sign contracts with eight local-foreign consortiums to produce a total of 1.7 bn Kw/h of electricity from municipal solid waste across a number of governorates.
Nissan Egypt has big investment plans: Nissan Egypt is planning to invest USD 55.9 mn in the Egyptian market until 2026.
It’s earnings season: Beltone, Egypt Kuwait Holding, and Alexandria Container and Cargo Handling became the latest big name companies to release their earnings in an already busy month for releases.
☀️ TOMORROW’S WEATHER- The mercury is peaking in Cairo at a high of 38°C before simmering to a moderate low of 26°C by nightfall, according to our favorite weather app. Sahel and Alexandria are seeing cooler weather, with highs of 32-34°C and lows of 25-26°C.
In the era of the influencers, does TikTok become the to-go place for good investment advice? It’s no secret that TikTok has influenced consumer spending habits on a large scale more than once. There is a wealth of knowledge shared on the app, but not all of it can be trusted. But social media naysayers may have to postpone the rant — the numbers check out.
Brokerage aggregator BestBrokers found that the most-watched stock prediction videos in 2023 were accurate 64% of the time.CNBC reports that the finfluencers (finance + influencer) even predicted Nvidia and Qualcomm’s AI boom this year. Only 36% of the stock-picking videos would have resulted in a loss for people who took them to heart.
It’s still a gamble. If a viewer had hedged their money on all the recommended stocks in the most accurate TikTok video analyzed by BestBroker, they would have made gains of USD 4.9k. However, if they had done the same based on what turned out to be the most inaccurate video, they would have seen a loss of USD 1.5k.
Experts still refuse to acknowledge finfluencers as alternatives to traditional stock analysts and stockbrokers, all but calling their accuracy a stroke of luck based on the general positive performance of the US stock market during that short period of time. But the real issue is credibility.
Finfluencers offer their advice without a fee, but that doesn’t mean they’re not making money off of it. There’s nothing stopping TikTokers from recommending companies they have a vested interest in — whether financially or otherwise — or being sponsored to do so without disclosing that to their viewers.
A recent study has uncovered that Ancient Egyptian scribers weren’t just tackling deadlines, but the injuries that came with it,The New York Times reports — much like today’s office workers. Ancient Egyptian scribes are often portrayed as dignified scholars, meticulously recording history with a sense of purpose — but behind that image lies a reality that feels all too familiar: hours of hunched shoulders and curled backs.
A little digging into the past: Researchers examined skeletons of sixty-nine scribes from Ancient Egypt, and found that they often suffered from osteoarthritis — a degenerative joint condition — particularly in their right shoulders, thumbs, and spines.
The more things change, the more they stay the same. Instead of reed pens and royal decrees, we’ve got keyboards and emails. And it is still the same sad story: long hours spent in the same position, with little to no movement, leading to a host of aches, pains and long term issues — back pain, carpal tunnel, and neck strains.
The pains of the past don’t have to be the pains of today: Our bodies aren’t made to sit still for hours on end. The way to avoid a scribe-like skeleton is to move more, stretch often, and be mindful of your posture at your desk.
What’s Inside the Mind of a Dog? Dive into the minds of our four-legged friends in this Netflix documentary narrated by Rob Lowe. The documentary follows in the pawprints of Inside the Mind of a Cat, exploring what makes dogs so special and what goes on in their furry heads.
The film kicks off with a brief history of dogs, revealing that despite their diverse breeds, they’re all genetically 99.9% wolf. It then delves into fascinating facts about canine cognition and behavior. From their unique nose prints to their ability to detect diseases, the documentary is packed with a whole lot of fun facts that will leave you with so much appreciation for your furry friend.
Add a sprinkle of heart: The documentary doesn’t shy away from the emotional moments, particularly when newly-trained service dogs meet their owners.
WHERE TO WATCH- You can watch the film on Netflix or watch the trailer (runtime: 1:35).
Related
⚽ We’re still enjoying the first gameweek of the European leagues. Here are the highlights taking place tonight:
Juventus vs Como - Serie A (9:45pm)
Leicester City vs Tottenham (10pm)
Villarreal vs Atlético Madrid (10:30pm)
Related
? EAT THIS TONIGHT-
Dubai’s award-winning burger has landed in Egypt. Founded in 2019, Pickl has quickly made a name for itself, snagging awards like Dubai’s Best Burger from Time Out and Regional Restaurant of the Year from Deliveroo. The burger joint takes pride in using only the freshest, highest-quality ingredients.
We decided to try the classic original cheeseburger to see what the hype was all about, and we were not disappointed. The beef patty was smashed, seasoned, and cooked to perfection, showcasing the premium meat quality. Topped with gooey cheese, dill pickles, white onion, mustard, and ketchup, all nestled in a soft brioche bun — this burger is definitely gourmet.
As for sides, the messy fries were a standout — the crunchy French fries smothered in dill pickles, Pickl’s secret sauce, and parsley created an irresistible flavor combo. We also tried the chicken tenders, which were served with pickles and their comeback sauce, which perfectly complemented the crispy chicken.
Turn up the heat: Add an EGP 15 bag of “feel the heat spice blend” to your order to spice things up.
Currently, Pickl is only in Sahel, with branches in Hacienda White, Seashell, and North Square Mall in Alamein. The Dubai-born joint has plans to expand to Cairo soon, with a new branch set to open in Sheikh Zayed’s Park Street.
Related
? OUT AND ABOUT- (all times CLT)
CJC 610 is rewinding the tapes and hosting a 90s Flashback night tomorrow at 9pm. To reserve, shoot them a message on their Facebook page.
Nour Project and Wust El Balad will be performing at CJC 610 on Wednesday, 21 August at 10pm. For reservations send them a message on their Facebook page.
The legendary Omar Khairat will be taking the stage alongside Esaad Younis for a live episode of Sahbet Saada at the New Alamein Festival on Thursday, 22 August. Get your tickets here.
Gen Z are getting their own festival. The Gen Z Festival celebrates local talent, creativity, fashion, and self-expression, backdropped by top local DJs and a vibrant atmosphere. The event will take place on Thursday, 22 August at D-Bay, starting 3pm.
The iconic Cairokee will be performing at the festival with Tul8te opening for them on Friday, 23 August. Find your tickets to the band’s show here.
Let your inner child roam at The Play Festival Vol.2 at D-Bay on Friday, 23 August. After the success of Vol.1, this edition promises to come back with bigger interactive experiences and live content from Peace Cake. Tickets are now available.
The Bond-Firewill strengthen family ties. The day will start with diverse activities for artistic souls, thrill seekers, or rhythm lovers and end with a cozy bonfire experience where families can tell stories, laugh, and develop closer relationships. The event will take place on Saturday, 24 August at D-Bay, starting 2pm.
HAPPENING LATER-
Immerse yourself in Omar Khairat’s musical mastery. The musician will be taking the stage alongside the Cairo Opera Orchestra as part of the 32nd International Citadel Festival for Music and Singing. The event will take place on Wednesday, 28 August at the Mahka Theatre of Salah El Din Citadel. Grab your tickets here.
End Sahel season on a high note with Adriatique at AHM Club in Silversands, where you can dance the summer away, or what’s left of it. The event will take place on Saturday, 31 August, and you can get your tickets here.
None other than Wegz to close out the iconic new Alamein Festival. The concert will take place Friday, 30 August at the U-Arena and you can grab your tickets here.
Prepare for the sixth edition of The Marakez Pyramids Half Marathon. Pick your race of choice and start training, because the marathon will take place on Saturday, 14 December. Note: The price to register is going to keep increasing. So sign up now through this link for the lowest price guarantee.
MENA’s first and only design-film festival is back:Film My Design festival is back for its third edition — under the theme Designing Our Lives for a Better Future —, taking place from Thursday, 3 October to Saturday, 12 October at Zawya Cinema. The festival features film screenings, masterclasses, a motion design exhibition, VR immersive experiences, and much more. Buy your tickets here.
Related
? UNDER THE LAMPLIGHT-
A tale of a water drop: Elif Shafak’s There Are Rivers in the Sky explores the significance of water through a tale that spans centuries. In a time when global water issues are increasingly critical, the book uses the journey of a single drop of water to reflect on the politics and preciousness of water across history.
The novel begins in ancient Mesopotamia with a raindrop falling into the hair of the erudite king Ashurbanipal. This raindrop then transforms into a snowflake and ends up on the tongue of a Victorian urchin named Arthur Smyth. As the story progresses, the raindrop’s journey continues into the 21st century, touching the life of Narin, a Yazidi girl in war-torn Iraq, and Zaleekhah Clarke, a hydrologist living on a houseboat in London.
The story brings together different timelines and characters, which end up having more in common than initially thought — all three timelines are connected by recurring motifs like parental abandonment and the transformative power of water.
What to expect? “Some of the connections between these various threads are more rewarding than others. When the puzzle pieces fit into place, and the fates of the present-day characters collide, the final twist is both contrived and genuinely moving,” the New York Times writes in its review of the novel.
The EGX30 fell 0.5% at today’s close on turnover of EGP 3.7 bn (2.7% above the 90-day average). Local investors were net sellers. The index is up 17.8% YTD.
In the green: Palm Hills Development (+6.3%), Mopco (+3.7%) and Emaar Misr (+2.9%).
In the red: Alexandria Containers and Cargo Handling (-4.1%), Talaat Moustafa Holding (-1.7%) and B Investments Holding (-1.7%).
Egypt Edition 
MENA+ Edition 
UAE Edition 
Saudi Edition 
MENA <> India Corridor 
Logistics (MENA) 
Climate (MENA) 
Share Issue
