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WHAT WE’RE TRACKING TONIGHT

Gulf sovereign fund set to announce new Ras Shukeir project

Good afternoon, friends. It’s a calm day on the news front, and we’ve got a rather brisk issue for you today.

THE BIG STORY TODAY-

A Gulf sovereign fund is set to announce a new Ras Shukeir project, with a focus on infrastructure and energy development, according to a Finance Ministry report seen by EnterpriseAM. Geopolitical tensions in the region had delayed the finalization of the project agreement initially planned for the end of the previous fiscal year, but negotiations are expected to conclude shortly, a government source told EnterpriseAM.

REMEMBER- The agreement — the first in a series linked to the 174 sq km Ras Shukeir zone on the Red Sea — will back local sovereign sukuk issued by the Finance Ministry, with proceeds earmarked for reducing public debt.

THE BIG STORY ABROAD-

It’s another quiet afternoon in the business world, with the latest conversations pertaining to Russia and Ukraine continuing to dominate headlines.

US President Donald Trump told Ukraine to throw in the towel on efforts to join Nato or reclaim the Crimean Peninsula — which Russia illegally annexed in 2014 — ahead of his meeting with Zelenskyy and European leaders later today to reach a peace agreement. “[Zelenskyy] can end the war with Russia almost immediately, if he wants to,” Trump wrote on Truth Social. (Reuters | CNN | Guardian)

☀️ TOMORROW’S WEATHER- As The Weather Girls once said, temperatures are rising. The mercury is set to peak at 38°C in Cairo tomorrow, before cooling down to 25°C. Across the North Coast, things are cooler with a high of 30°C and a low of 26°C, according to our favorite weather app.

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FOR YOUR COMMUTE

Quiet quitting? Quiet cracking is all the rage now

?Employee dissatisfaction isn’t new, it’s just that employees are not talking about it anymore. Quiet cracking, just as the name suggests, is employees slowly disengaging from their work — and it’s building up to being one of employers’ biggest concerns.

Why now? We’ve known employees to exercise agency against work dissatisfaction as seen in phenomena such as quiet quitting or “bare minimum Mondays.” Now, however, workers seem to choose to suffer in silence. An unstable job market with low hiring rates seems to be the main cause, according to Business Insider.

Gaining an upper hand amid economic uncertainty, employers are doing less in the promotions department, while enforcing return-to-office mandates. Aside from the pandemic-induced decline in 2020, global employee engagement saw a 21% decline in 2024, the steepest drop in 12 years. To keep a steady income, employees are staying where they are, but they’re quietly cracking.

High-functioning, low morale. Quiet cracking is hard to discern on the outside as workers suffering through it normally show up to work and get their tasks done. It’s business as usual on the surface. However, there are still signs to keep an eye for if you’re an employer trying to gauge the subtle erosion of engagement in your workforce. As the body keeps the score, physical health troubles can be especially telling. Headache complaints, sickness, and fatigue are some indicators.

Quiet cracking can also show in behavior and temperament changes. Workers interviewed by the Business Insider revealed they felt trapped in their work environment, experiencing panic attacks, overeating, and overthinking. A gradual shift in performance levels can also point to the possibility of declining mental health.

The return of the Machiavellian manager. As turnover rates stabilize and employees begrudgingly hold onto their seats, companies are embracing cutthroat management practices at the cost of employee mental health. This newfound form of forced job security is emerging as a pathway for corporations to prioritize cost and efficiency, knowing that employees aren’t going anywhere — nor even complain.

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Ears to the Ground

Dissecting culture through cinema

?Cairene streets through cinema: Hosted by award-winning Egyptian film director Bassam Mortada, Cinema Seify — or Summer Cinema — is a culturally rich podcast produced by Mada Masr. The podcast dissects iconic Egyptian movies, examining their social context at their time of production and their relevance in modern day Egypt.

Mortada’s delivery is what draws you in. Given his expertise as a filmmaker, Mortada utilizes his personal experiences within the industry — and his passion towards its inner workings — to divulge valuable insights in smooth narration that keeps listeners engaged and attentive. Whether or not you’re a cinephile, the podcast provides valuable knowledge about Egyptian society through time, and how its transformation was portrayed through cinema over the years.

In one particular episode titled Central Fi Gahim — Central on Fire — Mortada tells the story of Call Central, a mid 2000s Egyptian indie short film directed by Mohamed Hammad. The 30-minute episode narrates the events of the recent Ramses fire, which caused a complete blackout of communications, internet, and payment services, leaving Egyptians to reconsider what communication means to us. This notion is then discussed by both Mortada and Hammad, who dissect the events of the short film at hand, drawing similarities and bridging the gap between reality and fiction.

It’s all about the hook — and Cinema Seify cracked the code: Each episode manages to grasp your attention from the get-go, and each is published deliberately, coinciding with relevant cultural movements currently underway. The podcast does a commendable job at drawing connections between cinematic scenes and Cairene streets in a manner that leaves listeners eager to know what comes next.

WHERE TO LISTEN- You can listen to Cinema Seify on Spotify | Anghami | Apple Podcasts.

This publication is proudly sponsored by

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Sports

First round of the English Premier League wraps up tonight

The first round of the English Premier League concludes tonight, with a match between Leeds United and Everton at 10pm.

Over to the Spanish League, Elche and Real Betis will also be facing off at 10pm.

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OUT AND ABOUT

Jadal brings pop rock to Bibliotheca Alexandrina

MARK YOUR CALENDAR-

? Jordanian band Jadal is bringing pop rock to Bibliotheca Alexandrina on Sunday, 24 August. Don’t miss out on this energetic live show and book your tickets from Bibliotheca Alexandrina’s website now.

HAPPENING THIS WEEK-

The 33rd edition of the Citadel Festival for Music and Singing kicked off on Friday and is set to conclude on Saturday, 23 August. Don’t miss out on the diverse lineup of opera and pop singers at the Salah El-Din Citadel. Get your tickets at the door or through Tazkarti.

Discover the potential of your phone camera and join Photopia’s workshop on mobile photography with Egyptian visual artist Mohamed Mamdouh. Join the three-day workshop from Wednesday, 20 August to Friday, 22 August by filling out the registration form.

Enjoy a night of rock classics at Cairo Jazz Club with the band Seattle. With covers of songs by the iconic Nirvana and Radiohead, get your dose of nostalgia and catch their live performance on Thursday, 21 August. Book your tickets on CJC’s website.

Join Hamada Helal for a night of his biggest hits at Porto Golf Alamein’s Masrah Sokseeh on Thursday, 21 August. Grab your tickets on Ticketsmarché.

Stage powerhouse Wegz is back again for another epic performance at New Alamein Festival at U Arena. Don’t miss this electric night on Friday, 22 August. Get your tickets on Tazkarti.

HAPPENING LATER-

Icons Ruby and Ramy Sabry to light it up at the Tiatro Romano Festival on Thursday, 28 August. Keep the fun Sahel summer nights going and get your tickets through Ticketsmarché.

Calling all aspiring opera singers: Soprano Amira Selim is holding a singing masterclass at Khayal Arts and Music Academy from Monday, 1 September to Sunday, 7 September. Secure your spot by heading to Khayal’s Instagram before registration closes on Monday, 25 August.

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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GO WITH THE FLOW

What the markets are doing on 18 August 2025

The EGX30 fell 0.4% at today’s close on turnover of EGP 5.3 bn (2.4% above the 90-day average). Local investors were the sole net buyers. The index is up 20.5% YTD.

In the green: Misr Cement (+11.6%), Arabian Cement (+5.6%), and GB Corp (+4.8%).

In the red: Eastern Company (-3.8%), Palm Hills Development (-2.8%), and Juhayna (-2.7%).


? AUGUST

15- 23 (Friday - Saturday): 33rd edition of the Citadel Festival for Music and Singing.

20- 22 August (Wednesday - Friday): Photopia Mobile Photography Workshop.

21 August (Thursday): Seattle the Band at CJC 610.

21 August (Thursday): Hamada Helal at Porto Golf Alamein.

22 August (Friday): DJ Fideles at ESCA Beach Club.

22 August (Friday): Wegz at U Arena.

22 August (Friday): Bedouin at D-Bay.

23 August (Saturday): Tamer Hosny at The Address Beach Resort.

24 August (Sunday): Jadal at Bibliotheca Alexandrina.

29 August (Friday): Solomun at D-Bay.

29 August (Friday): Tul8te at U Arena.

29 August (Friday): Cairokee at U Arena.

30 August (Saturday): Nancy Ajram and Hamaki at The Address Beach Resort.

SEPTEMBER

1-7 (Monday - Sunday): Amira Selim singing masterclass at Khayal Arts and Music Academy.

4 September (Thursday): Al Mawlid Al Nabawi.

13 September (Saturday): Wael Gassar and Reham Abdelhakim at The Address Beach Resort.

OCTOBER

6 October (Monday): Armed forces day.

7 October (Tuesday): Enterprise Egypt Forum 2025.

10 October (Friday): Anyma at The Great Pyramids.

15 October (Wednesday): Scorpions concert at New Capital.

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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