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Tuesday, 11 Feb 2025

What We’re Tracking Tonight
For Your Commute
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Out And About
Under The Lamplight
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Today at a glance

1

The Big Story Today

Gov’t in talks with Spain’s WHM to set up a USD 1.8 bn healthcare data center.
2

FOR YOUR COMMUTE

There’s no kicking the global coal addiction anytime soon.
3

ON THE TUBE TONIGHT

The OJ Simpson trial, for a new generation.
4

Sports

It’s go big or go home in the Champions League’s knockout round playoffs.
5

OUT AND ABOUT

Movie night at Wadi Degla.
6

Under the Lamplight

Debunking some myths about financial freedom.

Tuesday, 11 Feb 2025

What We’re Tracking Tonight
For Your Commute
On The Tube Tonight
Sports
Out And About
Under The Lamplight
Go With The Flow
Enterprise Entertainment Calendar
1

WHAT WE’RE TRACKING TONIGHT

Egypt could be getting a USD 1.8 bn healthcare data center

Good afternoon all you lovely people, and happy Tuesday. We have a packed issue for you today, with all the latest on a potential USD 1.8 bn data center, Trump’s surprise foreign policy moves, and global coal consumption.

THE BIG STORY TODAY

#1- Gov’t in talks with Spain’s WHM to set up a USD 1.8 bn healthcare data center: Spanish medical consultancy WHM has reportedly proposed setting up a USD 1.8 bn data center as part of a consortium of international investors and in partnership with the ICT Ministry, Investment Minister Hassan El Khatib said in a statement. The terms of the project, which aims to help turn Egypt into a regional hub for AI-related medical services, are set to be nailed out over a series of follow-up meetings between the two parties. Khatib also highlighted further investment opportunities available to the company in Egypt, as well as the government’s willingness to provide incentives for WHM to expand its activities in the Egyptian market.

#2- Beltone in place to acquire majority stake in Baobab: Beltone Holding has inked a share purchase agreement to acquire a majority stake in African SME-focused financial services provider Baobab Group for an undisclosed amount, the company said in a disclosure(pdf) to the EGX. The Egyptian financial services provider will formally acquire the stake after the remaining approvals and procedures are completed.

This isn’t the first time we’ve heard about the upcoming acquisition: We first heard about the transaction last month, when it was announced Beltone Holding subsidiary Beltone Capital had entered into a put option agreement to acquire the stake. Beltone said at the time that the acquisition would drive Beltone’s regional growth strategy through expansions in Africa, utilizing Baobab’s existing operations in Senegal, Côte d'Ivoire, Madagascar, Burkina Faso, Mali, Democratic Republic of Congo, and Nigeria, along with its 500k customers customer base.

THE BIG STORY ABROAD

US president Donald Trump’s raft of foreign policy moves over the last 48 moves continue to reverberate across the world’s front pages, with the US president’s decision to suspend enforcement of an anti-corruption law that prevents US individuals and corporations from bribing foreign officials the latest move in a string of decisions that have seen Trump threaten to “let all hell break loose” in Gaza, impose 25% tariffs on steel aluminum imports, and threaten to withhold aid from Egypt and Jordan if they fail to comply with his plans to forcibly displace Palestinians from Gaza. Trump is set to meet today with Jordan’s King Abdullah to discuss the latter proposal, with Trump yet to fully renege on his plan to see the US occupy and redevelop the enclave.

Over in int’l business news, outlets continue to report on an Elon Musk-led consortium’s nearly USD 100 bn offer to buy the non-profit behind OpenAI — a key competitor of Musk’s AI outfit xAI. The move aims to block OpenAI’s bid to access more capital by transitioning to a for-profit structure, with Musk claiming that CEO Sam Altman’s plans to spin off the non-profit that currently holds a controlling stake in OpenAI’s for-profit subsidiary betray the company’s mission and undervalue the company. Musk also stands to gain from a higher sale price for the non-profit, given his early investments in the ChatGPT-maker.

** CATCH UP QUICK on the top stories from today’s EnterpriseAM:

  • Trump threatens to withhold aid from Egypt and Jordan: US president Donald Trump told reporters the United States may withhold aid if Egypt and Jordan refuse to take in refugees forced out of Gaza as part of his plan to push Palestinians out of their homeland.
  • Annual headline urban inflation dipped to 24.0% in January, marking a 0.1percentage point drop from the 24.1% recorded in December. F&B price inflation for January was up 0.5 percentage points to 20.8%, while F&B prices rose 1.8% m-o-m after two consecutive months of drops.
  • Beltone Leasing and Factoring inks agreement to fund Al Ahly sports complex: Beltone Holding subsidiary Beltone Leasing and Factoring inked a EGP 4 bn syndicated leasing term sheet with Al Qalaa Al Hamraa to fund the construction of Al Ahly Club’s stadium and sports city in Sheikh Zayed.

☀️ TOMORROW’S WEATHER- Temperatures are maintaining their recent chillier low this week with tomorrow’s mercury rising to a mere 19°C in the morning before dropping to 10°C in the evening, according to our favorite weather app.

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2

FOR YOUR COMMUTE

There’s no kicking the global coal addiction anytime soon

Global coal consumption is still on the up, despite climate concerns and green initiatives. While big consumers like the US are cutting back on coal use on home turf, CNBC reports that their exports are rising to meet mounting international demand.

Global usage hit an unprecedented high, reports the Global Energy Monitor, reaching 2.2k gigawatts of use in 2024, compared to 2.1k gigawatts in the previous year. Beyond power generation, total coal demand has reached a record 8.77 bn metric tons last year, up by 0.23 bn since 2023, with projections suggesting similar consumption levels through 2027.

China’s insatiable appetite for coal: Coal imports in China soared by 14.4% last year, reaching a historic 542.7 mn metric tons, which accounts for more than 56% of global demand. This reliance stems from multiple factors: weather-related hydropower shortfalls force increased coal usage, while infrastructure limitations complicate the transmission of renewable energy between provinces, despite abundant solar and wind potential in the region.

India seems to be following in their footsteps: Facing mounting electricity needs due to extreme weather, rapid urbanization, and industrial expansion, coal-intensive industries like cement and steel continue to expand as renewable energy development lags behind. Though the country recently extended its mandate for imported coal-based plants to operate at full capacity until 2025, it maintains an ambitious target of 50% renewable energy by 2030.

Zooming out: The global shift toward coal intensified after Russia’s invasion of Ukraine, as countries like China, India, and Vietnam scaled back gas-based power plants due to high prices. This has seen Vietnam’s imports hit record highs, Indonesia hit an unprecedented number of 831 mn metric tons of production, and the Philippines overtake China as Asia’s most coal-dependent nation.

How has Om El Donia fared? Egypt has consumed an annual average of 2.5 mn metric tons of coal since 2013 based on a 2024 report, with the construction industry taking the lion’s share. A study published in 2024 revealed that our coal consumption decreased by 0.01 [quadrillion] British thermal units (BTU) from 2021 to 2022, only 1.7% of total primary energy consumption in the country.

AI’s growing appetite: The rise of AI presents additional challenges to energy consumption. AI data centers’ electricity demand is projected to more than double by 2030 — the industry’s computational power demand doubling almost every 100 days according to the World Economic Forum — surpassing 35 GW, almost 4% of electricity use in the US as a whole. The US-China AI competition further drives the need for reliable, affordable power, making coal an increasingly challenging habit to kick.

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3

ON THE TUBE TONIGHT

The OJ Simpson trial, for a new generation

? The OJ Simpson trial gets another moment in the limelight. Netflix’s new four-part docu-series American Manhunt: OJ Simpson is the latest in a long line of film and TV accounts of one of the most famous criminal trials in US history — offering a new generation of viewers a deeper look at a key ‘90s pop culture moment.

Netflix’s take focuses on procedure over publicity: Like its predecessors, this show dissects the murders of Simpson’s wife Nicole Brown and her friend Ronald Goldman in 1994, and the trial that let OJ Simpson walk free despite overwhelming evidence against him. This particular rendition hones in on the little missteps that shaped the jury’s decision, particularly the crucial evidence that was either ignored or mishandled.

The docu-series leans on archival materials and interviews with investigators, legal experts, and key figures in the trial to drive its points home. The show's ultimate takeaway is that disorganized and unprepared law enforcement officials and prosecution were responsible for the defense’s ability to shift the focus from the actual murders to the LAPD’s credibility.

The scope of the series is somewhat limited. Many of the case’s key figures are deceased — including OJ Simspon himself — which means that the documentary largely relies on material that has been presented previously.

Worth the watch? For those that are already familiar with the details of the case, this docu-series is unlikely to offer up anything you haven’t heard before. Still, for Gen-Zers who weren’t around for the original case — or its re-litigation in the 2000s and 2010s — this series provides a tight and watchable presentation of one of the most explosive scandals of the last three decades.

WHERE TO WATCH- You can watch the docu-series on Netflix or catch the trailer on YouTube (runtime: 2:27).

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4

Sports

It’s go big or go home in the Champions League’s knockout round playoffs

⚽ The Champions League knockout round playoff is here. Europe’s top teams unable to secure direct qualification to the Champions League round of 16 have one last shot at inclusion in Europe’s premier football competition, with the action kicking off today and continuing tomorrow. It’s do or die over two legs, with the aggregate score deciding who advances and who gets sent packing.

Clash of titans: Man City vs. Real Madrid. The most highly anticipated match of the night sees the 2022-23 season’s champions (Man City) take on the 2023-24 season’s champions (Real Madrid) in a European heavyweight showdown at 10pm. City has struggled in the competition this year, barely making it into the playoffs after coming in 22nd in the group stage. Madrid, by contrast, was just one point short of direct qualification, coming in 11th place overall. The fixture is itself starting to develop a bit of a history, with the matchup the fourth Champions League battle between the two teams since Pep Guardiola came to City in July 2016. The Merengues have edged it two times, while City have also claimed victory twice.

Other matches playing at 10pm include Juventus vs. Eindhoven and Sporting vs. Dortmund. At 7:45pm, tune in for a French derby, with Brest going head-to-head with Paris Saint-Germain.

Over in the Egyptian Premier League, the drama continues. Zamalek is set to face Pharco at 4pm, while Al Ahly will take on Ghazl El Mahalla at 7pm. Pyramids — the league leaders with 27 points — are sitting this round out, giving Al Ahly — in second place with 26 points — the chance to claim the top spot with a victory. Meanwhile, Zamalek — placed third with 23 points — are lurking just below the league leaders, hoping for a slip-up.

And in FA Cup updates: Exeter City takes on Nottingham Forest in the last game of the FA Cup’s fourth round, with the action set to kick off at 10pm. Last night’s fifth-round draw will see the following matchups when the competition resumes on 1 March:

  • Preston vs. Burnley
  • Aston Villa vs. Cardiff City
  • Crystal Palace vs. Millwall
  • Manchester United vs. Fulham
  • Newcastle United vs. Brighton
  • Bournemouth vs. Wolves
  • Manchester City vs. Plymouth Argyle
  • Exeter or Nottingham Forest vs. Ipswich
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5

OUT AND ABOUT

Movie night at Wadi Degla

MARK YOUR CALENDAR-

A romantic movie night under the stars. Attend a screening of the movie Me Before You this Valentine's Day, Friday, 14 February, at The Wadi Degla Proctorate in Maadi starting at 5:30pm. Book your spot through the Proctorate’s website.

(Tap or click the headline above to read this story with all of the links to external sources.)

HAPPENING THIS WEEK-

Experience the artistic talents of the MENA region at the 6th edition of Art Cairo. Your last chance to visit the exhibition at the Grand Egyptian Museum is today. Tickets are available on CollardTickets.

Get ready to witness some rising stars from the Neveen Allouba Vocal Academy. The show is called The Valentine’s Podcast and will take place at Rawabet Art Space tonight at 8pm. Tickets are available on Ticketsmarche.

Massar Egbari’s album release party. Be among the first to listen to Massar Egbar’s new album, Mabaetsh Akhaf, tomorrow at EDNC by Sodic, New Cairo. Book your spot by calling the number in Grand Theatre ’s Instagram bio.

A Red Bull-fueled dance off — with one big twist. Red Bull Dance Your Style is back, offering you the opportunity to watch Egypt’s top 16 freestyle dancers battle it out on Thursday, 13 February at 7pm at El Malahy. Get ready for beats, insane moves, and a twist — you’re the judge. Grab your tickets at Ticketsmarche.

Act Theatre Group are back with a new edition of the Famous For Fifteen Minutes Festival. Under the name of Twisted Ties, the festival will feature a number of short plays from Egyptian and American writers taking place at Rawabet Art Space on Thursday and Friday, 13 and 14 February at 8pm. Tickets for the first and second nights are available on Ticketsmarche.

An Argentinian night of jazz and tango: In honor of Valentine’s Day, the Argentinian show TangoAfter Dark is coming to Egypt for the first time. Enjoy a night of jazz music and tango as part of the Layali Misr chain of events. The show will take place at the Waldorf Astoria Theatre in Heliopolis on Friday, 14 February at 9pm. You can also catch the show at the Cairo Opera House on Saturday and Sunday, 15 and 16 February at 8pm. Tickets for the first, second, and third shows are available on Tazkarti.

A Valentine's Day that hits all the high notes: Soprano Amira Selim will host a special Valentine's Day concert, performing a selection of classic romantic songs in French, English, Italian, and Egyptian Arabic, accompanied by pianist Pascal Rozier. The concert begins at 8pm on Thursday, 13 February at the Cairo Opera House in Zamalek. Get your tickets from Tazkarti.

The weekend of love. Head to The Grand Theatre in EDNC by Sodic for Cupid’s Theatre. Taking place on Friday, 14 February and Saturday, 15 February, these nights will feature burlesque shows, live performances, and DJs to get you on the dance floor. Book your spot by calling the number in The Grand Theatre’s Instagram bio.

Craving a taste of Asia? The Thai Food Bazaar will have top Thai chefs preparing their signature dishes live — so you can watch, savor, and maybe even steal a secret or two. The event will take place at Al Horreya Park in Zamalek for four days, starting on Thursday, 13 February till Sunday, 16 February, with the event set to run from 12pm to 8pm each day.

HAPPENING LATER-

The Animatex Festival is back for its fifth edition. It’s bringing a packed program including screenings of both short and feature animated films, discussions, panel talks, and workshops for animation enthusiasts — and those looking to network with local and international industry leaders. The festival will take place at the AUC Tahrir campus from Thursday, 20 February until Tuesday, 25 February. You can grab your tickets from Ticketsmarche.

Cairokee x New Capital: Cairokee will perform in El Nahr El Akhdar Park in the New Administrative Capital at 8pm on Friday, 21 February. Tickets are available on Ticketsmarche.

Massar Egbari is preparing to celebrate the release of their latest album, Maba’etsh Akhaf on Friday, 21 February at 7pm. The event will take place at El Sawy Culturewheel Theatre at Nile University in Sheikh Zayed. Tickets are available through El Sawy Culturewheel’s website.

Attend a classic ballet opera. Sleeping Beauty will be showing at the Cairo Opera House at the end of the month. Tickets for shows on the 24th, 25th, 26th, and 27th of February are available on Tazkarti.

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6

Under the Lamplight

Debunking some myths about financial freedom

?Your ticket to financial freedom. In his recently published book, Seven Myths AboutMoney, bestselling author Rob Dix discusses common financial myths and offers a counter-perspective that promises to help readers achieve financial freedom in economically challenging times. Dix, a financial expert best-known from The Property Podcast, draws from over a decade of experience in investing and entrepreneurship to uncover the misconceptions that hold people back financially.

(Tap or click the headline above to read this story with all of the links to external sources.)

Debunking our assumptions about the way money works: The main thrust of Dix’s argument is that a lot of our common-sense understandings around money are actually misconceptions that may be holding us back. Tackling assumptions ranging from the idea that cutting costs is the key to financial freedom to the belief that investing in stocks is always a losing venture, Dix makes a case that outdated ideas can hinder one’s financial progress, especially in today’s rapidly changing world. Instead, he offers a simple guide that encourages readers to rethink their approach and embark on a new path to true independence.

The book has received praise for encouraging people to focus on their individual goals. Dix emphasizes that financial success doesn’t simply mean accumulating wealth, but rather finding a strategy that aligns with one’s goals and personal vision. Seven Myths of Money is essentially a compilation of all that Rob Dix has been saying for years in various articles and books — the most recent being The Price of Money.

You can find the book on Amazon.

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7

GO WITH THE FLOW

What the markets are doing on 11 February 2025

The EGX30 fell 1.1% at today’s close on turnover of EGP 4.1 bn (10.7% above the 90-day average). International investors were the sole net buyers. The index is down 0.6% YTD.

In the green: Abu Kir Fertilizers (+2.5%), Telecom Egypt (+0.8%) and CIB (+0.2%).

In the red: Palm Hills Development (-5.3%), Rameda Pharma (-4.6%) and Qalaa Holdings (-4.3%).

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ENTERPRISE ENTERTAINMENT CALENDAR

8-11 February (Saturday-Tuesday): 6th edition of Art Cairo at the Grand Egyptian Museum.

11 February (Tuesday): The Valentine’s Podcast by Neveen Allouba Vocal Academy at Rawabet Art Space.

12 February (Wednesday): Massar Egbari’s album release party at EDNC by Sodic.

13 February (Thursday): Red Bull Dance Your Style at El Malahy.

13-14 February (Thursday-Friday) Act Theatre Group’s Twisted Ties at Rawabet Art Space.

13-16 February (Thursday-Sunday): Thai Food Bazaar at Al Horreya Park

14 February (Friday): Heliopolis Marathon with Cairo Runners.

14 February (Friday): Medhat Saleh Hob x Hob concert at Theatro Arkan.

14 February (Friday): Francis Mercier at The Giza Pyramids.

14 February (Friday): Me Before You movie night at The Wadi Degla Proctorate.

14 February (Friday): Tango After Dark at the Waldorf Astoria.

14-15 February (Friday-Saturday): Cupid’s Theatre at EDNC by Sodic.

20 February (Thursday): Amal Maher concert at the Sound and Light stage.

20-25 February (Thursday-Tuesday): Animatex Festival at AUC Tahrir

20-21 February (Thursday-Friday): Ghostly Kisses at Movenpick Media City.

21 February (Friday): Massar Egbari launch album at El Sawy Culturewheel.

21 February (Friday): E7kky Festival.

21 February (Friday): Egycon 12 at Family Park, New Cairo.

21 February (Friday): Cairokeeat El Nahr El Akhdar Park in the New Administrative Capital.

22 February (Friday): MENA Product Summit at Townhall by Kamelizer – District 5.

23 February (Sunday): Umm Kulthoum Tribute Concert at The Grand Egyptian Museum.

23-25 February (Sunday-Tuesday): Sports Expo 2025 at Egypt International Exhibition Center.

24 February (Monday): Umm Kulthoum Tribute Concert at The Grand Egyptian Museum.

24-27 February (Monday-Thursday) Sleeping Beauty at the Cairo Opera House.

APRIL

1 April (Tuesday): Annual Flower Exhibition at the Agricultural Museum.

OCTOBER

16-24 October (Thursday-Friday): Gouna Film Festival.

30 October - 22 November (Thursday-Saturday): Forever is Now at the Great Pyramids of Giza.

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