Good afternoon, friends, and a happy hump day to you all.
THE BIG STORY TODAY-
Madbouly heads to Saudi to talk investment at the Future Investment Initiative: Prime Minister Moustafa Madbouly departed Cairo this morning for Riyadh alongside Foreign Minister Badr Abdelatty to attend the Future Investment Initiative, according to a cabinet statement out this morning. On the agenda for the conference that runs until Thursday is equitable development, economic stability, AI, climate change, health, and geopolitics.
The Washington Post has found itself in the center of the news cycle after its decision notto make a presidential endorsement for the first time since 1988. WaPo owner and the world’s second richest man, Jeff Bezos, has argued that his decision to ditch an already written Kamala Harris endorsement from the paper’s editorial board was a “principled decision” to tackle bias and build trust with its readership. Bezos also rebutted claims that the decision stemmed from his desire to curry favor with the Republican nominee in case he wins the election that is just over six days away.
WaPo subscribers have been making their thoughts on the matter known, with over 200k canceling their subscriptions — a roughly 8% share of the paper’s paying readership.
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Another Chinese auto factory in the works: China’s state-owned auto manufacturer BAIC Group has inked an agreement with local agent Alkan Auto to establish an EV factory with the start of production penciled in for the end of 2025.
Adeer wants to set up an Egyptian real estate fund: Saudi Sumou Holding Group subsidiary Adeer plans to set up an Egyptian real estate investment fund in partnership with Saudi fund manager Areeb Capital.
GCC VCs still have an appetite for Egyptian startups: Egyptian task management and digital workspace startup Taskedin sold a “ strategic stake ” to Saudi VC firm Edafa Venture Capital in a USD seven-figure transaction.
☀️ TOMORROW’S WEATHER- The weather is slowly cooling down this week, with a high of 28°C and a low of 18°C in the capital tomorrow, according to our favorite weather app.
Is corporate loyalty making a comeback? For “CEO lifers” like Nike’s newly appointed head Elliott Hill, it might be. Hill, who began his career as an intern at Nike, represents a breed of executives who have risen through the ranks without ever switching companies. Hill joins other career lifers like Mary Barra at General Motors and Doug McMillon at Walmart, suggesting that the path of the homegrown CEO may be having a revival, the Financial Times writes. Company lifers “foster continuity and enhance morale, as employees see clear pathways for their progression, which cultivates loyalty,” says co-author of The Life Cycle of a CEO, Claudius Hildebrand.
Internal hires bring a breadth of experience outsiders might lack: Having diverse, multi-functional experience within one company proves effective for aspiring CEOs in large, complex firms with multiple product offerings and brands across various countries, according to Kimberly Whitler, associate professor at the University of Virginia’s Darden School of Business. Chief executive of mining firm Anglo American, Duncan Wanblad, illustrates the possibility of obtaining critical, diverse experience within a single company through his 30 years across various functions and locations.
But “lifers” aren’t without their critics: While institutional knowledge runs deep for executives who have stayed with one company their entire careers, there’s the risk of tunnel vision, warns associate professor of human resource management at IE Business School, Monika Hamori. Companies in fast-changing industries, for example, might benefit more from leaders who bring in fresh perspectives from outside. LinkedIn founder Reid Hoffman would also posit that job hopping is a credible way of bumping up your salary and speed up promotions. “You can’t have an agile company if you give employees lifetime contracts — and the best people don’t want one employer for life anyway” he said.
DATA POINT- US-based data analytics company Altrata finds around a quarter of FTSE 100 CEOs are external hires, against 15% in the S&P 500. For internal CEOs, 6-10 years’ tenure is the sweet spot, according to their The Role of the CEO 2023 report(pdf). In the US, 20% of top CEOs have over 21 years with their companies—just 7% in the UK. Only 1% of S&P 500 leaders clock over 41 years at the same firm.
The era of rom-coms is back and better with Nobody Wants This. Netflix has graced our screens with a rom-com series serving up meet cutes, awkward moments, yearning sequences, and last but not least, endless heartfelt scenes.
Here’s the story: Joanne (Kristen Bell) and Noah’s (Adam Brody) chemistry hits the roof from their first encounter at a party. Joanne is a free-spirited thirtysomething who co-hosts a podcast about sex and relationships with her sister Morgan (Justine Lupe). She’s relatable, witty, and unafraid to tackle the awkwardness of modern dating
Noah, on the other hand, is a progressive rabbi navigating the fallout of a broken engagement. His character balances the expectations of his community with a modern, open-minded approach to life and love. The contrast between Joanne’s playful, somewhat agnostic outlook and Noah’s commitment to his faith creates an interesting dynamic that feels both fresh and authentic.
It’s all in the seamless chemistry between Bell and Brody. Their friendship off-screen translates into a captivating on-screen partnership. The dialogues sparkle with wit and warmth, making even the most mundane conversations feel engaging. Their back-and-forth is not just funny — it’s genuine, showcasing their connection and drawing viewers deeper into their blossoming romance.
The series doesn’t shy away from the complexities of relationships, and how to be in a healthy one at that. It navigates the complexity of love, faith, and self-discovery with a light touch, managing to address deeper themes without becoming heavy-handed. The pacing is spot-on, with each episode leaving you eager for more of Joanne and Noah’s journey.
In a time when romantic comedies can often feel formulaic, this series really hit it on the nail. It’s funny, sweet, and relatable, making it a must-watch for anyone who loves a good romance story.
WHERE TO WATCH- You can watch the series on Netflix or watch the trailer (runtime: 3:03)
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⚽ Attention, Al Ahly fans. Al Ahly will play its first match in the newly launched Intercontinental Cup today, hosting Emirati Al Ain at Cairo Stadium for the second round of the tournament at 8pm. As the Confederation of African Football Champions League’s reigning champion, the Red Devils are facing UAE’s Al-Ain, the current cup holders of the Asian Football Confederation Champions League. The victor will go on to the semifinals of the competition.
The European matches that we’re following today:
Milan vs. Napoli - Serie A (10:45pm)
Leverkusen vs. Elfsborg - German Cup Round 32 (8pm)
Wolfsburg vs. Dortmund - German Cup Round 32 (10:45pm)
Southampton vs. Stoke City - Carabao Cup Round 16 (10:45pm)
Brentford vs. Sheffield Wednesday - Carabao Cup Round 16 (11pm)
PLUS- And the Ballon d'Or goes to… Spanish Manchester City midfielder Rodrigo Hernandez (Rodri) won the Ballon d'Or award yesterday for the best player in the world during the 2023/2024 season. Brazilian Real Madrid striker Vinicius Junior came in second, ahead of teammate Jude Bellingham.
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? OUT AND ABOUT- (all times CLT)
HAPPENING THIS WEEK-
The Cairo Opera Ballet Company is bringing back One Thousand and OneNights after a 17-year hiatus. Accompanied by the Cairo Opera Orchestra and conducted by Nader Abbasi with music from Fikre Amirov, the shows will run starting today until Friday, 1 November — with two additional shows on Tuesday 5 November, and Wednesday, 6 November. Tickets are available on Tazkarti.
Zawya goes to Gouna (again): Zawya Cinema is preparing to screen a selection of films submitted to the El Gouna Film Festival 2024. The event has already started and will continue until Saturday, 2 November. You can find the screening schedule on Zawya’s official Instagram account.
Got the moves? The 16th edition of Cairo International Jazz Festival will take place from Thursday, October 31 to Friday, November 8, 2024 at the American University in Cairo campus in Tahrir. Tickets available on Ticketsmarche.
For the love of tapestry. Today in History is Amsterdam-based Egyptian artist Dina Danish’s first exhibition in Egypt in nearly a decade. Composed of a collection of appliqué tapestries that resemble medieval banners, the exhibition is still open at the Gypsum Gallery till tomorrow.
The fourth edition of Forever is Now is here. This year, a lineup of 12 global visionary artists are ready to display their work at the iconic Pyramids of Giza — including two groundbreaking AI-powered projects. The exhibition will continue to be open everyday till Saturday, 16 November.
The largest collection of prints in the country.Cairopolitan is bringing together a collection of artwork from over 180 local and regional artists to display in the Cairo Prints Exhibition. The gallery is open everyday until Monday, 18 November in Garden City.
Calling all plant parents. The autumn edition of the International Flower Expo began on Thursday, 10 October at Al Horreya Garden. Take home anything from ornamental plants, trees, and all different kinds of flowers. The expo will continue until Sunday, 10 November.
Glowing puppets swimming across a stage.The Book of Neptune is a great family event to attend. Theater group Ledpuppets will transform the Rawabet Art Space stage into an underwater wonderland with glowing puppets dancing around and acting out stories. Tickets are available on Ticketsmarche for Friday, 1 November and Saturday, 2 November.
HAPPENING LATER-
Time to dust off basketball shoes and jerseys, Double Dribble League is back. Starting Friday, 8 November at Maadi Sports Club, guys and gals who play ball will get together in twelve teams and battle it out every Friday for the next 12 weeks. Stay tuned for more details.
Shop for the winter at the next edition of the Cairo Flea Market. CFM is back on Saturday, 9 November at the Fish Garden in Zamalek, starting at 10am and ending at 7pm. The flea market boasts beautiful artisan crafts, vintage items, and pre-loved clothes.
Creatives, assemble.SYNC Summit 2024 is here from Thursday 7 November to Saturday 9 November at District 5, Marakez. Prepare to dive into immersive workshops and inspiring talks across multiple creative tracks. It’s all about making connections in the industry, learning, and unleashing your creativity. You can grab tickets at Ticketsmarche.
Attention, fitness fanatics. The ELFIT Championship features 1.2k athletes from over 55 countries competing for the ELFIT Champion title. The event will take place from Wednesday, 13 November till Saturday, 16 November at the New Capital Sports City. Grab your tickets from Ticketsmarche.
Prepare for the sixth edition of The Marakez Pyramids Half Marathon, organized by the TriFactory. Pick your race of choice and start training, because the marathon will take place on Saturday, 14 December. Note: Ticket prices will increase in a week, so get in line for early bird registration on the marathon’s website.
Medhat Saleh and Reham Abdelhakim are headlining a charity concert in the Royal Garden of the El Qubba Presidential Palace. On Friday, 15 November, the doors will open for attendees — who will be required to be dressed formally — at 6pm, with the concert slated to start at 8pm. You can grab tickets on Tazkarti.
Party like you’re in Ibiza. Circoloco — the iconic Ibiza party — is coming to the Pyramids on Friday, 15 November. The 9-hour party kicks off at 6pm and will feature an array of electronic, house, and techno music. Grab your tickets from Collard Tickets.
Egypt’s premier electro and dance music event. Witness immersive visuals and soundscapes with an electrifying lineup of international and local artists at the Aura Music Festival. The festival will take place on Friday, 13 December at Lac Du Caire. Tickets are available at Collard Tickets.
Enjoy some authentic Egyptian vocals with Saad Eloud. The live show will take place on Thursday, 7 November at Theatro Arkan. Grab your tickets through Ticketsmarche.
Watch a blind date happen live. Binge Circle are hosting the first ever The Blind Date Show:Live on Stage. Two strangers will meet and converse from behind a curtain and decide whether it will be a night to remember — or a date they’d rather forget. The event will take place on Friday, 8 November at Trivium Square. Tickets are available at Collard Tickets.
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? EARS TO THE GROUND-
In a world that often dismisses midlife as a decline, Begin Again flips the narrative. This podcast invites listeners to embrace this transformative era, all by the empathetic and engaging Davina McCall. She dedicates the podcast to empowering individuals to view midlife as a chance for growth, reinvention, and rediscovery. With a mission to challenge outdated ideas and societal expectations, McCall creates a supportive community where personal journeys take center stage.
In the first episode, McCall sits down with Fearne Cotton, a recognizable personality from the 90s who has navigated her own path in the public eye. Starting her career as a TV presenter at just 15, Cotton shares her candid struggles with anxiety, panic attacks, and eating disorders, all while under the intense scrutiny of fame. Her openness about the pressures she faced and the importance of prioritizing mental health makes for a refreshing listen.
It’s not your typical celebrity chat show. Rather than just skimming the surface, she digs into her guests’ experiences, creating a deep dialogue that feels authentic and impactful.
Take it as a call to action to embrace your second act with courage and enthusiasm. Davina McCall proves that midlife is not the end but rather a chance to Begin Again.
The EGX30 fell 0.5% at today’s close on turnover of EGP 4.2 bn (0.8% above the 90-day average). Regional investors were the sole net buyers. The index is up 23.0% YTD.
In the green: Ezz Steel (+3.2%), Cleopatra Hospitals (+2.5%), and Emaar Misr (+2.0%).
In the red: Palm Hills Development (-4.1%), GB Corp (-3.0%), and Oriental Weavers (-2.8%).
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