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Tuesday, 24 Jun 2025

What We’re Tracking Tonight
For Your Commute
Eat This Tonight
Sports
Out And About
Go With The Flow
Enterprise Entertainment Calendar

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Today at a glance

1

The Big Story Today

ASCOM eyes Raya’s stake in Ostool.
2

FOR YOUR COMMUTE

Is now a good time to be a serial CEO?
3

EAT THIS TONIGHT

Bruxie’s has something for everyone.
4

Sports

Club World Cup heats up.
5

OUT AND ABOUT

Headbangin’ at CJC 610.

Tuesday, 24 Jun 2025

What We’re Tracking Tonight
For Your Commute
Eat This Tonight
Sports
Out And About
Go With The Flow
Enterprise Entertainment Calendar
1

WHAT WE’RE TRACKING TONIGHT

ASCOM eyes Raya’s 90% stake in Ostool

Good afternoon, everyone. We’re racing towards the final stretch of the week and into the long weekend. The latest developments between Iran and Israel and their impact on markets (and the EGP) continue to drive the news cycle.

THE BIG STORY TODAY-

#1- ASCOM eyes Raya’s stake in Ostool: Qalaa’s mining arm ASCOM will submit a purchase offer for Raya Holding's entire 90% stake — represented in 77.9 mn shares — in freight subsidiary Ostool in a EGP 641 mn transaction after its board greenlit the transaction, according to a disclosure (pdf) to the EGX. The potential offer values Ostool’s shares at EGP 8.22 each.

REMEMBER- Raya Holding upped its stake in Ostool to 90% in 2023, after purchasing an additional 27.7% stake from Egyptian Gulf Holding Financial Investments, EGBank’s investment arm. Prior to that, Raya was looking to sell its 62.3% stake in Ostool, but the sale didn’t go through because the buyer didn’t transfer the funds within the required time.

#2- The EGP rebounded against the USD following the announcement of a ceasefire between Israel and Iran, with the currency gaining around EGP 0.70-0.73 during trading hours to trade below the EGP 50 mark for the first time since the escalations between the two countries began 12 days ago. The USD ended the day at EGP 50-50.10.

The rebound came on the back of strong USD-dominated inflows — which were driven by the renewed appetite of foreign investors in our debt instruments — in tandem with a slowdown in investor outflows, a source in the banking sector told EnterpriseAM. This strong appetite is expected to continue, after interbank USD transactions reached USD 3 bn since the conflict started, the source added.

Mark your calendar for the 2025 EnterpriseAM Egypt Forum, our flagship forum and part of our must-attend series of invitation-only, C-suite-level gatherings. Tap to register your interest to attend. Want to partner with us? Reach out to Moustafa Taalab at mtaalab@enterpriseadvisory.com to explore sponsorship opportunities

THE BIG STORY ABROAD-

Is the ceasefire already broken? Israeli Defense Minister Israel Katz has ordered the military to strike targets in Tehran in response to what he called a “blatant violation” of the truce by Iran. Israel claims that Iran had fired missiles in the hours after the ceasefire took effect. Iran, however, denied the accusations and said that no such attacks have taken place, warning that “any further aggression will be met with a decisive, firm, and timely response.” US President Donald Trump took to his Truth Social platform to warn Israel against dropping bombs on Iran as it would be a “major violation” of the ceasefire. (Reuters | BBC | New York Times | CNBC | Associated Press)

☀️ TOMORROW’S WEATHER- Cairo’s sunny streak continues tomorrow, with the mercury set to peak at 36°C throughout the day before dropping to 22°C at night. The North Coast will be having a cooler day, with temperatures peaking at 26°C before slightly dropping to 24°C at night.

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2

FOR YOUR COMMUTE

Is now a good time to be a serial CEO?

Serial chiefs. When it comes to CEOs, some are in it for the long run, some adopt a “one and done” approach, and some make it a habit to collect as many proverbial corporate accolades as possible, jumping from one CEO appointment to the next in an attempt to guide myriad companies to the path of glory — yet, these serial CEOs are becoming increasingly uncommon, according to The Financial Times.

Starting fresh…again. For established CEOs, there’s an allure to taking the reigns of an already-established company. For one, they’ve done it before; tough decisions prove easier to make, they come armed with a fresh perspective ready to take on new challenges, and — perhaps most importantly — passion becomes easier to reignite. Dara Khosrowshahi, Uber CEO, is one such serial CEO, having been at the helm of Expedia for 12 years prior to his appointment at the ride-sharing tech company. Luca de Meo — who has recently been appointed CEO of Gucci-owning Kering — is the textbook definition of a serial CEO. de Meo held six different CEO positions throughout his career, leading Fiat, Alpha Romeo, and — until recently — Renault. But not all CEOs share the same aspirations.

High reward comes with pressure — but sometimes the latter proves far too difficult to navigate. An increasing number of CEOs are opting for a “one and done” approach when it comes to their c-suite appointments, according to FT. Company hopping, once valued by board members for fresh perspectives, is now a rare phenomenon. CEOs are choosing to exit entirely right after they peak — lest they find themselves back in square one. The past few years proved particularly gruesome to CEOs as they struggled to navigate rising economic challenges and the added pressure of AI.

Let’s talk numbers. Last year saw an increase in the number of CEOs stepping into the role for the very first time, comprising 85% of incoming CEOs, according to Russell Reynold’s 2024 Global CEO Turnover Index Annual Report — pushing serial CEOs to the minority for the seventh year in a row. The report also notes that 2024 saw 202 CEO departures, up from a six-year average of 186. A significant percentage of this figure was in the tech industry. So, why are CEOs calling it a day?

Doing everything, everywhere, all at once can get exhausting. The numbers should be surprising — yet in retrospect, they aren’t. “The path to retiring with your reputation intact is narrow and for many leaders, once is enough,” Russell Reynolds executive Laura Sanderson, tells FT.

Some 27 CEOs were forced to resign by activist investors in 2024, according to a Barclays report. From economic turmoil to disruptive tech, many established CEOs are choosing retirement over public scrutiny, with an increasing number of potential first-timers outright declining CEO opportunities, according to FT. Burnout also proves a pivotal factor in many CEOs’ decisions to jump ship, driving them to less taxing boardroom positions, should they choose not to retire.

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3

EAT THIS TONIGHT

Bruxie’s has something for everyone

?Loaded burger? Salads? Breakfast options? Whatever it may be, Bruxie’shasgot you covered. The menu is massive and has just about everything, so it’s hard not to find something that hits the spot.

Start strong with the truffle burger. The patty is juicy and flavorful, and the truffle sauce adds a rich, savory kick without overpowering the rest of the flavors. The portion is generous, making it a solid go-to if you're in the mood for something indulgent. If you prefer something more classic, we would recommend the regular burger — a simple, satisfying option that doesn’t disappoint.

The buffalo chicken wasn’t quite as impressive. It leans heavily on the heat, which is great if you're a fan of super spicy food and in our humble opinion, the chicken coating could’ve been crispier. Flavor-wise, it’s bold, but there is room for improvement on the texture.

What sets Bruxie’s apart is its huge menu. It offers something for everyone — burgers, fried chicken, pasta, salads, quesadillas, tacos, and even breakfast items like bagels, omelets, and croissants. It’s a solid choice if you’re with a group and everyone is in the mood for something different.

Eat in or order: Bruxie’s has several branches across Cairo and Alexandria, and you can also order through Talabat, Bruxie’s website, or by downloading their delivery app.

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4

Sports

Club World Cup heats up

⚽Your daily update on the Club World Cup: Al Ahly and Portugal’s Porto are officially out of the running after securing just one point each following a 4-4 draw. Inter Miami and Palmeiras have qualified for the round of 16, joining PSG and Botafogo, who scraped through after an intense face-off with Atlético.

Group A: The eight goal match between Al Ahly and Porto — which ended in a thrilling 4-4 draw — wasn’t enough for either club to qualify, with the Portuguese club finishing in third place with two points, topping Al Ahly in fourth place on goal difference. Al Ahly was constantly in the lead, yet failed to maintain its advantage, missing out on many clear chances. The match saw Wessam Abou Ali score a perfect hat-trick, scoring one goal with his right foot, another with his left, and third with his head.

Inter Miami and Palmeiras officially qualify for the round of 16 after their match ended in a 2-2 draw, with the Brazilian FC securing the lead with five points over Inter Miami on goal difference.

Group B: Paris Saint-Germain qualified for the round of 16 after securing the group lead following its 2-0 win over the US Seattle Sounders. Brazil’s Botafogo qualified as group runner-up, with Atlético eliminated despite beating Botafogo 1-0. PSG, Botafogo, and Atlético were level on points, with six each.

Club World Cup regulations state that direct head-to-head results are used in the case of a point tie. As each of the three clubs won against one of their competitors and lost to the other, the decisive factor was goal difference in direct face-offs, which left Atlético with the short end of the stick.

Things get heated in the round of 16. Palmeiras will go head to head with Botafogo in an all-Brazilian clash on Saturday, meaning that Brazil has guaranteed a representative in the quarterfinals. Messi will go head to head with his former teammates as Inter Miami battles it out with PSG on Sunday.

Who’s qualifying tonight? Tonight and tomorrow at dawn, four matches will seal the fate of Groups C and D. Both groups are awaiting the qualification of two more teams — Bayern Munich and Flamengo have already secured their spots.

Group C: Portugal’s Benfica will go head to head with the German Bayern Munich tonight at 10pm. The Bavarian club has already guaranteed qualification with six points in tow. The Eagles — with four points — need to secure victory or a draw to qualify for the next round.

Argentina’s Boca Juniors will face New Zealand’s Auckland City in a relatively uncomplicated match at 10pm. Boca Juniors needs to secure victory with a considerable goal difference to ensure qualification.

Group D: Tunisia’s Espérance is in for a tough night against England’s Chelsea at 4am. The Tunisian club secured the only victory for Arab clubs in the current edition of the Club World Cup in the last round, placing the club third in the group with three points, level with Chelsea in second place on goal difference. A victory is essential if Espérance hopes to qualify, as goal difference favors The Blues.

Flamengo plays Los Angeles at 4am. The former has already qualified with six points, with the latter out of the running after losing two consecutive matches.

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5

OUT AND ABOUT

Headbangin’ at CJC 610

MARK YOUR CALENDAR-

? Ready to cause a ruckus? On Saturday, 28 June, CJC 610 is hosting one loud, positively chaotic metal night. Featuring Egyptian System of a Down tribute band Soaad, thrash metal band Gorynov, Cyprus-based Ka’aper, and Egyptian death metal band Scarab, it’s bound to be a night for your personal history book. You can secure your spot through CJC 610’s website.

HAPPENING THIS WEEK-

Alexa, play “Shake Your Groove Thing.” Tonight, Cairo-based dancer and actress Badra will be performing at The Grand Theatre in New Cairo. You can secure your spot by contacting The Grand Theatre through its official Instagram account.

The ‘90s are calling, and on Friday, 27 June, we’re picking up. Egyptian band Cassette ‘90s will be performing live at Zamalek’s El-Sawy Culturewheel, and you best believe they’ll be doubling down on nostalgia. This motley crew of ‘90s aficionados knows how to keep an audience on their feet, so if a trip a few decades back sounds like a fun time, secure your spot through El-Sawy Culturewheel’s website.

Spending the weekend in Cairo? How does an afternoon of kayaking and painting sound? On Friday, 27 June, Boards and Boats is hosting a Kayak and Paint workshop in collaboration with Artsy Egypt at Mountain View Hyde Park. Reach out to Boards and Boats through Instagram to secure your spot.

If you play your cards right, you might just walk home victorious. On Friday, 27 June, Maadi’s Darb 15 will be hosting quite the competitive game night in collaboration with game gurus Playful Batta. Ready for battle? You can secure your spot through the link in Darb 15’s Instagram bio.

HAPPENING LATER-

The Cairokee Empire rises once more, this time at the Cairo International Stadium. On Saturday, 28 June, the band promises over a decade’s worth of iconic music at the largest venue in Africa. You can grab your tickets through Tazkarti.

Lose yourself in the last of Beethoven’s symphonies at the Cairo Opera House. On Saturday, 28 June, Beethoven’s Symphony No. 9 will reverberate throughout the Main Hall as Maestro Ahmed El Saedi guides his orchestra through the most influential of symphonic works. Tickets can be purchased through Tazkarti.

Egyptian rock band “Medic” is celebrating its 20th anniversary at Downtown Cairo’s Rawabet Art Space on Saturday, 28 June. Founded in 2005, the progressive rock and metal band has been causing a ruckus — the good kind — all over the country — and for their 20th anniversary show, they’re going all out. Tickets can be purchased through Ticketsmarché.

Calling on all directioners: Egyptian One Direction tribute band 1D Rewind will be taking us back to the good old days when the band was still together at El Sawy Culturewheel on Sunday, 29 June. Feel like reliving some midnight memories? Secure your spot through El Sawy Culturewheel’s website.

In the mood for a chaotic comedy night? On Tuesday, 1 July, stand-up comedy group TheGoats will be taking over Cairo Jazz Club 610. Mohamed Moula, Mohamed Halim, Marwan Fares, and Marwan El Moslemany will be dishing out unfiltered jokes, with DJ Andy Cheiko bringing the beat. You can secure your spot through CJC 610’s website.

Freshen up your linen shirts and pack up your shades, because Egyptian megastar Amr Diab will be kicking off Sahel season at Sol Beach Marassi on Friday, 4 July. Joining the Hadaba will be German electronic dance music producer and singer Monolink, and Copenhagen-based experimental pop trio WhoMadeWho. You can grab your tickets from Ticketsmarché. Just don’t forget your sunblock.

Need a dash of folklore in your life? Reconnect with your Egyptian roots at Theatro Arkan on Thursday, 10 July, as the all-Egyptian, all-women band Tablet el Sitt take the stage. Tickets are available through Ticketsmarché.

Ready to face a quadruple threat? On Friday, 11 July at Marina’s Roman Theatre, iconicpop stars Mohamed Fouad, Ehab Tawfik, Hamid El Shaeri, and Hesham Abbas will be bringing the heat to the North Coast as part of the Tiatro Romano Summer 2025 Festival. Oh, you’re humming 2000s hits already? Head to Ticketsmarchè to secure your spot.

Did that trip to Ibiza not make it out of the group chat? Well, you’re in luck. ParadiseIbiza — one of the Mediterranean island’s most celebrated party series — is marching to the beat of its own EDM drum all the way to the North Coast’s Solare in Ras El Hekma on Friday, 11 July. The line up includes Welsh DJ Jamie Jones (the brains behind Paradise), US DJ Seth Troxler, UK’s East End Dubs, Danish-Filipino Manda Moor, and Egypt’s own Awadly. Tickets are yet to be announced, however we’d suggest keeping an eye out on Paradise Ibiza’s website.

This summer, New Alamein city will be playing host to two landmark art events. Announced by the Egyptian Prime Ministry, the second edition of contemporary exhibitionArt Space will kick off on Saturday, 19 July and wrap up Tuesday, 30 September, as Sahel season comes to a close. Throughout its duration, the exhibition will feature a slew of visual art installations, interactive workshops, and multidisciplinary exhibitions, including the Egypt Sculpture Symposium, which takes place from Wednesday, 6 August till Saturday, 30 August, hosting 30 of the world’s most renowned sculptors.

The Martinez Brothers will be giving the North Coast’s Sol Beach a taste of what New York City’s nightlife scene has to offer on Friday, 1 August. The DJ duo — and brothers from the same mother — will be joined by Lebanese DJ and producer Rolbac, so you know things will be heating up quite fast. You can grab your tickets from Ticketsmarché.

Get caffeinated and grab your polaroid camera, because on Friday 8 August, &ME — one fifth of Keinemusik — will be bringing the beats all through the night until sunrise at North Coast’s Sol Beach. Promising to have you dancing till the sun’s up, the German EDM DJ and producer will be going solo this time around. Tickets can be purchased through Ticketsmarché.

In the mood to party by the Pyramids? On Friday, 19 December, world-famous Dutch DJ and Producer Tiësto is coming back to Egypt for a solo show at the Giza Plateau. Once voted “The Greatest DJ of All Time,” Tiësto will surely make this upcoming show one to remember. Tickets are available on Ticket Egypt.

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6

GO WITH THE FLOW

What the markets are doing on 24 June 2025

The EGX30 rose 3.8% at today’s close on turnover of EGP 6.3 bn (31.2% above the 90-day average). Regional investors were the sole net sellers. The index is up 9.6% YTD.

In the green: Orascom Development (+8.9%), e-Finance (+8.1%), and Ibnsina Pharma (+6.4%).

In the red: Alexandria Mineral Oils (-0.8%) and Telecom Egypt (-0.2%).

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ENTERPRISE ENTERTAINMENT CALENDAR

JUNE

24 June (Tuesday): Studio El Etnin at CJC 610.

24 June (Tuesday): Badra at The Grand Theatre.

26 June (Thursday): Jeff Dunham at the New Capital’s Drama Hall.

27 June (Friday): Medhat Saleh at Cairo Opera House.

27 June (Friday): Kayak and Paint at Mountain View Hyde Park.

27 June (Friday): Cassette ‘90s at El-Sawy Culturewheel.

27 June (Friday): Game night at Darb 15.

28 June (Saturday): Beethoven’s 9th Symphony at The Cairo Opera House.

28 June (Saturday): Metal Night at CJC 610.

28 June (Saturday): Cairokee Empire concert at Cairo International Stadium.

28 June (Saturday): Medic 20th Anniversary Concert at Rawabet Art Space.

29 June (Sunday): 1D Rewind at El Sawy Culturewheel.

JULY

1 July (Tuesday): The Goats at CJC 610.

4 July (Friday): Amr Diab, Monolinkand WhoMadeWho at Sol Beach Marassi.

10 July (Thursday): Tablet El Sitt at Theatro Arkan.

11 July (Friday): Paradise Ibiza at Solare Ras Al Hekma.

11 July (Friday): Mohamed Fouad, Ehab Tawfik, Hamid El Shaeri, and Hesham Abbas at the Roman Theatre.

19 July - 30 September (Saturday - Tuesday): Art Space at New Alamein.

AUGUST

1 August (Friday): The Martinez Brothers at Sol Beach.

6-30 August (Wednesday - Saturday): Egypt Sculpture Symposium at New Alamein.

8 August (Friday): &ME at Sol Beach.

OCTOBER

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

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

DECEMBER

19 December (Friday): DJ Tiësto at the Giza Plateau.

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