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Beatles, the AI version

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WHAT WE’RE TRACKING TONIGHT

THIS EVENING: QIA in talks with SFE for stakes in seven hotels in Egypt?

Good afternoon, wonderful people. We’re racing towards the final stretch of the week and into the arms of the weekend, with the news cycle beginning to pick up steam here at home.

THE BIG STORY TODAY

The Qatar Investment Authority (QIA) is reportedly in talks with the Sovereign Fund of Egypt (SFE) to invest in seven unnamed hotels in Egypt, Reuters reports. The QIA is reportedly eyeing acquiring up to 30% in the hotels, Reuters says, although the value of the investments remains unclear.

THE BIG STORY ABROAD

Picking up where we left off this morning, Donald Trump’s indictment continues to lead the conversation in the international press this afternoon. The former president pleaded not guilty and used the media exposure to campaign his cause outside the courtroom before his hearing in a Miami court yesterday. Trump was indicted earlier this week with 37 counts including withholding state secrets that should have been shared that undermined national security and US intelligence services. BBC | CNBC | Financial Times | Bloomberg | Associated Press | Wall Street Journal |

The Enterprise Finance Forum is our flagship gathering — the one so many of you have been waiting for. The two-day event takes place this September and will be the latest in our must-attend series of invitation-only, C-suite-level gatherings. Stay tuned for more information on the location.

TAP OR CLICK HERE if you want to express interest in attending. We’ll be sending out the first batch of invitations just after the 30 June holiday.

Do you want to become a commercial partner? Email mtaalab@enterpriseadvisory.com.

STAY TUNED for more detail about our exciting agenda in the weeks to come.


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

ENTERPRISE IS LOOKING FOR SMART, TALENTED PEOPLE of all backgrounds to help us build some very cool new things. Enterprise — the essential morning read on all the important news shaping business and the economy in Egypt and the region — is looking for writers, reporters and editors to help us build out new publications. Today, we run four daily Egypt and MENA-focused publications, five weekly industry verticals, and a weekend lifestyle edition designed to make our readers feel just a bit smarter.

We have tons more in the pipeline — come help us build new publications. We offer the chance to work in a fast-paced newsroom on a broad range of topics and in a variety of formats. Our goal is simple: To create value for our growing community of >250k daily readers by telling stories that matter.

Journalists looking to explore business, finance and economic stories are welcome. So are recent journalism school graduates.

That said, we're looking for gifted story-tellers from all walks of life and across all professions, as long as they show a keen interest in learning to write about the stories, topics, businesses, and figures moving markets. Egyptian and foreign nationals alike are welcome to apply. So are job-switchers: If you’re an equities analyst tired of the rat race, we’re a great place to come work.

NEVER WORKED IN A NEWSROOM BEFORE? We have the Enterprise Business Writing Development Program. Whether you are a recent graduate, an industry vet, or looking to switch careers, the Enterprise Business Writing Development Program will give you the tools you need to tell the most important stories to our audience of C-suite officials, government ministers, diplomats, financiers, investors and entrepreneurs.

During the program you will learn:

  • The key news stories and trends shaping business and the economy in Egypt and the region, across various sectors;
  • Business and finance for non-finance people: Whether it's industry jargon or key concepts or simply how to read a balance sheet;
  • How to construct an Enterprise story: From idea formulation down to the structure, style and tone of writing;
  • How to develop sources that will give you the key insights needed to tell a complete story;
  • How to communicate these stories with the confidence and language of an insider.

Not an internship program — a career: The three-month program will see full-time, paid participants take part in workshops and lectures from veteran business journalists, while also working on and filing stories that will run on any of our publications. Those who have successfully completed the program, will then be given long-term job offers.

Apply directly to jobs@enterprisemea.com and mention “writing development program” in your subject line.


☀️ TOMORROW’S WEATHER- Sunny skies lie ahead with the mercury reading 36°C and dropping to a cooler 23°C in the evening, our favorite weather app tells us.

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FOR YOUR COMMUTE

AI is bringing back the Beatles + Mummifying the shark from the latest attack in Hurghada

The Beatles are releasing one more song, thanks to AI’s “source separation” technology, the Associated Press reported. The record, which was created by extracting John Lennon’s voice from an old demo from 1978, is slated to be released this year, Paul McCartney told the BBC. While the name of the original title is unknown, it could be from an unfinished love song called “Now and Then.”

The singer called the use of artificial intelligence “scary but exciting” as it allowed him to duet with his former bandmate during the Glastonbury Festival, decades after Lennon’s murder. It consists of separating the human voice from instruments on a track in order to create new songs.

Egyptian artists gave that a go last month: Composer Amr Mostafa used AI to bring backUmm Kalthoum’s voice back to life in what he dubbed a cultural revival project — with significant repercussions pertaining to IP rights and ethical concerns. Whether Mostafa used “source separation” as is speculated in Lennon’s case or deep fake technology is unclear.


Egyptian authorities are going to mummify the shark that killed a Russian national in Hurghada last week, The Independentreported. The shark — which was captured and killed following the incident — was handed to researchers to try and assess whether its behavior can be explained by a pattern that may reoccur in the near future. So far, scientists have recovered some of the victim’s remains from the female tiger shark’s intestines and are preparing it to be displayed at the Egyptian National Institute of Marine Sciences’ museum, the Daily Mail said. Authorities said this is the typical course of action with species that are only caught or hunted in similar circumstances, according to Sky News Arabia.

Atypical, but not unprecedented: The vicious attack claimed the life of 23-year-old Vladimir Popov as he tried to escape the sea animal on the shores of the popular Red Sea resort. By the time rescuers got to him, it was already too late to save his life. Last year, a similar incident claimed the lives of two tourists: An Austrian woman and a Romanian one were mauled merely days apart in Hurghada, according to The Guardian.

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ENTERPRISE RECOMMENDS

What lies beneath the lives of the rich in Devious Maids

📺 ON THE TUBE TONIGHT-
(all times CLT)

The story of four Devious Maids: A group of Latina maids working for the rich elite of Beverly Hills uncover their employers’ secrets, ranging from corruption and cheating to murder. Each season follows the same group of characters as they solve mysteries, navigate their dynamics with their odd employers, and — more often than not — find new romantic partners. The series is a perfect blend of genres, mixing comedy with drama and thriller, all wrapped in a group of charming protagonists that we can’t help but love despite their very questionable choices. The series stars Ana Ortiz, Dania Ramirez, Roselyn Sanchez, and Judy Reyes. All four seasons are available to stream on Disney+.

⚽ The Pharaohs will face off against Guinea today in Marrakesh at 9pm for matchday 5 of this year’s AfCON qualifiers. Egypt and Guinea have nine points each, but Egypt is leading Group D thanks to goal difference, meaning a victory or a tie tonight would both allow us to secure a qualifying spot to the next stage.

The UEFA Nations’ League semi-final takes place tonight at 9:45pm, as the Netherlands will be playing against Croatia at the Dutch De Kuip stadium. The victor will qualify for the final and their opponent will be decided tomorrow after the match between Spain and Italy.

🥖 EAT THIS TONIGHT-

From the brains behind What the Crust, Daily Kneads caters to the rest of your doughy cravings: Sourdough bakeryDaily Kneads, located at The Nox in New Cairo, serves up freshly baked goods — all with a sourdough base. The menu includes the usual suspects when sourdough is involved — bread loaves of different shapes, sizes, and varieties, which you can buy by the loaf or use as the base of a sandwich. The sweet treats also fill the display windows at Daily Kneads, with options ranging from pain au chocolat to Danish pastries and pains aux raisins (also known as escargots). We particularly enjoyed the cinnamon roll, which has a soft, gooey center and perfectly made icing. The bakery is currently in its soft launch phase with a limited daily selection of baked goods.

🎤 OUT AND ABOUT-
(all times CLT)

Zawya’s kicks off a two-week festival for Italian director Michelangelo Antonio today, as part of its Italian Cinema Focus program in cooperation with the Italian Cultural Institute. The cinema will screen Antonio’s films through to Tuesday, 27 June.

The annual Flower Exhibition — which is typically held at the Orman Gardens — is now open to the public at the Agricultural Museum in Dokki. The exhibition will run for one month until 27 June.

The “Traces of Egypt” Exhibition wraps tomorrow. The exhibition, which began in late March at the Grand Egyptian Museum, is organized by Egyptian-German artist Susan Hefuna and celebrates the country’s Khayamiya tradition through 28 dresses celebrating local artisans and their craftsmanship.

Check out Fetch-the-Sketch tomorrow at 5-9pm in Darb 15in Maadi. This one-day, three-hour workshop on sketching and illustration aims to discover your creativity and explore your drawing abilities. For more information on materials and reserving a spot, visit their Facebook page.

Lebanese mega star Elissa will be performing in Alexandria this Friday in Alex West’s Club. Also performing on stage are Massar Egbari and comedian Alaa El Sheikh. Just remember that doors open at 2pm. Click here to reserve your tickets.

Calling fans of composer Hany Shenouda and his unique music: Don’t miss out on Shenouda’s concert, along with several other singers, at Cairo Festival City’s Marquee theater this Friday. You can get tickets on Ticketsmarche.

Hiba Tawaji is back with her first concert in Cairo after three years: The Lebanese singing sensation will be performing in the Cairo Opera house this Friday starting from 8:30pm to celebrate the release of her new album, Ba’d Seneen. The performance will be conducted by Maestro Ahmed Aweida and under the supervision of Oussama El-Rahbani. Click here to reserve your tickets.

Egyptian soprano Amira Selim will perform at the National Museum for Egyptian Civilization on Wednesday, 21 June to celebrate the one-year anniversary of the museum’s inauguration. Doors open at 7:30pm and the performance begins at 9:30pm. You can book tickets here.

You can catch El Sofara’s Ahmed Amin at the next SoldOut live interview with TV host Mahmoud Saad on Thursday, 23 June at El Falaki theater at 8:30pm. The live interview will be followed by a performance by singer Nouran Abou Taleb. Tickets for both events are available on Tazkarti.

Cairokee Empire returns: Cairokee is hitting the stage with two mega-concerts at New Cairo’s Manara Arena on Thursday, 27 June and Saturday, 29 June. Tickets are available on Tazkarti here and here.

💡 UNDER THE LAMPLIGHT-

Rich Dad, Poor Dad: What the Rich Teach Their Kids About Money That the Poor andMiddle Class Do Nothas been a favorite among some of our readers, so we decided to explore the book ourselves. The premise of the book is that author Robert Kiyosaki observes the differences between his father — the “poor dad” — and his father’s friend — the “rich dad.” The author’s father is an academic: He’s highly educated, focused on academic success, and advocates job security and living within one’s income. However, he realized that he had no financial security. Meanwhile, his friend’s father, an entrepreneur who worked on cultivating his assets and making selective investment decisions, has financial security. This difference baffled him and from here he decided to explore why his friend’s dad had financial success. From the “rich dad” he begins to glean pearls of wisdom — all amounting to the importance of financial education. The lessons that he learns include how to drop liabilities such as debt and to focus on having assets that can generate income such as investing in businesses or in real estate. The book’s use of parables to explain how to have a healthy and positive relationship with money makes it a good read, even for those of us who dislike too much technical jargon.

This publication is proudly sponsored by

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GO WITH THE FLOW

What the markets are doing on 14 June, 2023

The EGX30 rose 0.04% at today’s close on turnover of EGP 2.73 bn. ِRegional investors were net sellers. The index is up 22.4% YTD.

In the green: Cleopatra Hospitals (+2.3%), Qalaa Holdings (+1.7%) and Eastern Company (+1.5%).

In the red: Mopco (-5.5%), GB Corp (-2.6%) and Credit Agricole (-2.5%).


MAY

27 May-27 June (Saturday-Tuesday): Annual Flower Exhibition from 10am at the Agricultural Museum.

JUNE

12-13 June (Monday-Tuesday): Omar Khairat performs at the Cairo Opera House.

14-27 June (Wednesday-Tuesday): Zawya’s two-week festival for Italian director Michelangelo Antonio.

15 June (Thursday): Last day of the Traces of Egypt Exhibition at the Grand Egyptian Museum.

15 June (Thursday): Fetch-the-Sketch art workshop, Darb 15.

16 June (Friday): Elissa performs at Alex West Club, Alexandria.

16 June (Friday): Composer Hany Shenouda concert, Cairo Festival City’s Marquee theater.

16 June (Friday): Hiba Tawaji concert, Cairo Opera House.

21 June (Wednesday): Egyptian soprano Amira Selim performance, National Museum for Egyptian Civilization.

23 June (Friday): Ahmed Amin’s interview on SoldOut Live, El Falaki theater.

27 June (Thursday): Cairokee mega-concert, Manara Arena, New Cairo.

29 June (Saturday): Cairokee mega-concert, Manara Arena, New Cairo.

28 June-2 July (Wednesday-Sunday): Eid El Adha (TBC).

30 June (Friday): June 30 Revolution Day.

JULY

18 July (Tuesday): Islamic New Year.

20 July (Thursday): National holiday in observance of Islamic New Year (TBC).

23 July (Sunday): Revolution Day.

27 July (Thursday): National holiday in observance of Revolution Day.

SEPTEMBER

26 September (Tuesday): Prophet Muhammad’s birthday (TBC).

28 September (Thursday): National holiday in observance of Prophet Muhammad’s birthday (TBC).

OCTOBER

6 October (Friday): Armed Forces Day.

13 October- 20 October (Friday-Friday): The sixth edition of El Gouna Film Festival (GFF).

EVENTS WITH NO SET DATE

2023: The inauguration of the Grand Egyptian Museum.

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