Good afternoon, folks, and happy Thursday. The weekend is finally here and we can’t wait until this last hot business day of the week ends.
THE BIG STORY TODAY
The Oil Ministry has resumed pumping gas gradually to fertilizer companies, it said in a statement today. This came after the pressure fluctuations in the natural gas pipeline network earlier this week forced several companies in the fertilizer and petrochemical sector to temporarily suspend production until the gas flow stabilizes.
ICYMI: The Oil Ministry reduced the natural gas supplies to energy-intensive fertilizer companies by 20-30% earlier this week. The cut supplies were redirected to feed power generators during a time of heightened demand.
THE BIG STORY ABROAD
Israel is threatening to escalate airstrikes in Lebanon following a Hezbollah attack. The Israeli military has said that they are ready to cause an “expanded war” employing “multi-arena warfare.” Israel has reported that recent Hezbollah rockets have caused damage to the land that could prompt a barrage of attacks from Israel, who have threatened to “restore security” along the border “one way or another.” The attack from Hezbollah injured 10 Israelis and caused the death of one soldier. Israeli raids in Lebanon this year — which have reportedly used internationally banned white phosphorus — have killed at least 31 civilians, two of which are children. (Bloomberg | Al Jazeera | Reuters | AP)
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Is Egypt looking to tap the international debt market? A number of government officials are in London today to gauge foreign appetite for fresh debt issuances, including the possibility of a eurobond issuance.
Egypt, Iran continue to get closer: Foreign Minister Sameh Shoukry yesterday received a call from Iran’s Acting Foreign Minister Ali Bagheri which covered an array of topics, including the situation in Gaza, Egyptian-Iranian relations, and the road to normalcy between the two countries.
Remittances from Egyptians abroad surged 43.8% y-o-y in April to USD 2.2 bn, according to local reports. On a monthly basis, remittances increased for the second consecutive month, rising 2.6%.
☀️ TOMORROW’S WEATHER- Mercury is peaking with a high of 43°C in Cairo and with a very warm low of 30°C in the evening, according to our favorite weather app.
Instagram ads may soon be unskippable. This week, Instagram started testing a feature called “ ad break,” which forces users to watch ads mid-scroll, freezing app functionality until the ad is over. First documented by a Reddit user, it seems that people trying to scroll by the ad will receive a pop-up notification informing them that “Sometime, you may need to view an ad before you can keep browsing.”
Does Meta really need more ad revenue? In a statement, Instagram spokesperson Matthew Tye said that they were “always testing formats that can drive value for advertisers.” In 2023, Meta generated over USD131bn from ads alone, a USD 22 bn jump from the year before, raking in more revenue from ads than YouTube. So the question becomes: To what lengths will Meta go for increased ad revenue at the expense of user experience?
Another question would be: Does Instagram expect users to accept it? Some users who have encountered this new feature, as well as users who have just heard about it, are threatening to delete their accounts. And while Instagram has been pushing to pivot into the video business with its introduction of Reels, if the feature becomes permanent, users might just opt to use TikTok instead in favor of skippable ads.
If it worked for YouTube, why won’t it work for Instagram?Last year, the video giant introduced unskippable 30-second commercials before and during videos. While the move was widely criticized by users, especially for its inclusion in first aid videos, the user backlash hasn’t mobilized into any action — perhaps because of the existence of adblockers and Premium plans. However, viewers may be willing to sit through an ad to finish a video they want to watch, but the same incentive isn’t there when you’re idly scrolling through pictures.
Buying London is Netflix’s newest addition to the luxury real estate reality genre — it’s essentially the British counterpart to Selling Sunset which first premiered on Netflix in 2019 and quickly became a phenomenon, captivating audiences with its blend of high-end real estate and high-stakes drama. It follows Daniel Daggers, the boss of DDRE Global, and his team of agents: Lauren, Reme, Olivia, Rosi, Rasa, Juliana, and Oli, as they navigate the real estate market in London.
But is it good television? Netflix knows its audience well: Viewers aren’t tuning in for serious property listings — they’re here for the drama, the interpersonal conflicts, and the portrayal of affluent lifestyles. And Netflix delivers: There is enough entertainment and absurdity to fill the void while fans await Selling Sunset’s Season 8.
Despite the focus on drama, it does occasionally remember its premise, showcasing some of London's most extravagant homes and a few historically interesting sites. While it might seem tone-deaf to flaunt such luxury during a housing crisis, the allure of escapism is undeniable. Like Selling Sunset, this show offers viewers a glimpse into a world of glamor and excess, a theme long popularized by reality TV staples.
However, critics have not been kind. A review on The Guardian said that it was “probably the most hateable TV show ever made.” While it might not receive any awards or critical acclaim, it fulfills its role as a guilty pleasure. It’s ridiculous, dramatic, and thoroughly entertaining — everything you want from a luxury real estate reality show.
⚽ The Pharaohs aim to solidify their lead in the World Cup qualifiers tonight: The Egyptian national team will be meeting Burkina Faso on the pitch tonight at 10pm in the third round of Group A’s qualifiers for the 2026 FIFA World Cup in North America. The Pharaohs lead the group with 6 points from two matches, followed by Burkina Faso with 4 points.
Also in Group A: Guinea Bissau, currently in third place with 4 points, will be going head to head with Ethiopia, who had only managed to garner one point, tonight at 7pm.
Only the leaders of the pack will get a shot at the trophy. Of each of the nine groups, only the teams coming in at first place will qualify for the 2026 FIFA World Cup. The four highest-scoring teams to come in at second place will be going to playoffs against teams from other continents.
Here are the Africa qualifiers worth keeping an eye on:
Senegal vs Democratic Republic of Congo (Group B, 10pm)
Algeria vs Guinea (Group G, 10pm)
Mali vs Ghana (Group I, 10pm)
Nigeria vs South Africa (Group C, 10pm on Friday)
Morocco vs Zambia (Group E, 10pm on Friday)
Côte d’Ivoire vs Gabon (Group F, 10pm on Friday)
Cameroon vs Cape Verde (Group D, 4pm on Saturday)
And some friendly games to tune into:
Netherlands vs Canada (9:45pm)
England vs Iceland (9:45pm on Friday)
Germany vs Greece (9:45pm on Friday)
Portugal vs Croatia (7:45pm on Saturday)
Belgium vs Luxembourg (9pm on Saturday)
Spain vs North Ireland (10:30pm on Saturday)
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? OUT AND ABOUT- (all times CLT)
HAPPENING THIS WEEK-
Take your seat as the curtains pull away for The Greek National Opera Βallet at the CairoOpera House tonight and tomorrow. In cooperation with the NGO Greek Action Africa, prepare for two nights of ballet in the Opera’s Main Hall. Get your tickets on Tazkarti for first night and second night.
Step into the past with the MisrIskindireyaExhibition. It started yesterday and will be ending on Monday, June 10, the exhibition will showcase the vibrant yet fleeting essence of Alexandria during the 1970s and 80s. The exhibition will start at 6:30pm tomorrow at Radio Theatre in Downtown Cairo and then will be open daily from 11am to 9pm.
Experience the first-ever 4x4 Snow Rally in the Middle East and Africa at Ski Egypt, Mall of Egypt. Prepare to witness over ten teams race in the snow, conquering challenging obstacles on their quest to be crowned the Rally Snow Champion. The race will take place on Saturday, 8 June at 4pm. Grab your tickets here.
The Italian Cultural Institute in Cairo’s Italian Cinema in Cairo film festival has begun. It's a 10-day affair, showcasing Italian films. The screenings started last week and will continue until Sunday, 9 June. They’re bringing classics and some 2023 releases to explore Italian cinematic heritage. The screenings are at Zamalek Cinema and the Italian Cultural Institute, and you can check out their schedules here and here.
El Galsa: Healing Is Not Linear is a play that will make you feel all the emotions. It navigates through a therapy session and discusses challenges, childhood, hopes, and dreams. It is quite a comfort show with moments of comedy and emotional moments. Catch the play at Rawabet Art Space from tonight to Saturday, 8 June.
Cairo Flea Market is back this weekendat the Aquarium Grotto Garden in Zamalek on Saturday, 8 June. The market, which includes local products and antiques, will begin at 11am to 10pm.
The Comedy Bunker’s line-up at AlMalahy is sure to leave you in stitches. Mohamed Moula, Alaa ElSheikh, and Mohamed Helmy will be taking to the stage on Saturday, 8 June at 8pm. Get your tickets here to secure your seats.
Ahmed Helmy returns to the stage with his play Memo at Grand Nile Tower Hotel in Cairo, after the success of the show in Saudi Arabia. The show will be on Sunday, 16 June at 9pm. Get your tickets here.
In celebration of Eid Al Adha, Tamer Hosny will hold a concert at Zed East in New Cairo, on Monday, June 17th. The show starts at 8:30pm. (tickets)
Don't miss the comedic musical journey I Love You, You’re Perfect, Now Change at Rawabet Art Space from Thursday, 27 June to Saturday, 29 June. Explore the ups and downs of love and relationships through humorous scenes and heartwarming songs that will have you laughing and nodding along. Secure your tickets for June 27, June 28, and June 29.
Related
? EARS TO THE GROUND-
In life, we all experience wake-up calls, but not everyone responds to them. In MyWakeup Call, hosted by Dr. Mark Goulston, guests share their profound stories of transformation sparked by their wake-up calls. These moments aren’t pleasant or sought-after: They shake individuals to their core. Yet, through these trials, guests emerge more authentic, resilient, and ultimately, better human beings.
Dr. Goulston’s podcast shows how tough times can make us stronger. With each episode, listeners are invited into the intimate journeys of individuals who faced their wake-up calls head-on and emerged transformed. From overcoming personal setbacks to navigating professional challenges, the stories shared on this podcast inspire and empower listeners to persevere through their own trials.
It has a focus on authenticity and human connection. Dr. Goulston’s compassionate approach to interviewing allows guests to share their experiences openly and vulnerably, creating a space where listeners can find solace and inspiration in the shared human experience.
Whether you're currently facing a wake-up call of your own or simply seeking encouragement on your journey of personal growth, it offers valuable insights and wisdom. Dr. Goulston’s genuine enthusiasm for each guest’s story shines through in every episode, leaving listeners feeling uplifted and empowered to embrace change and live more fully.
The EGX30 fell 0.8% at today’s close on turnover of EGP 2.0 bn (58.2% below the 90-day average). Local investors were net sellers. The index is up 6.2% YTD.
In the green: Eastern Company (+4.9%), Delta Sugar (+2.5%), and Mopco (+0.7%).
In the red: E-Finance (-6.3%), Qalaa Holdings (-3.8%), and Palm Hills Development (-3.3%).
Remember when you called someone’s landline and if they weren’t available, it meant you couldn’t reach them? You may have asked a relative to pass on a message, but a call back wasn’t necessarily a certainty, or even mandatory. And that was okay — we all had the same expectations of each other. Today, not responding to a call or text is almost disrespectful and can often put our relationships and jobs at stake, which can lead to continuous pressure to answer and take action — regardless of what one is doing in real time.
Is the way we’re being asked to live right now objectively unnatural? Up until two decades ago (and throughout the entire history of humanity), no one has ever had to be accessible 24 hours a day. The constant bombardment of calls and messages and the expectation that we should respond immediately means that it’s easy to find yourself too overwhelmed to engage with people around you — your social battery drained, even with no one around.
Nothing in our brains or in our culture has evolved to adequately maintain this level of contact. Before the cell phone, leaving the house meant that you were unreachable. It was understood that the only people who were obligated to be on call 24/7 through pagers or early cell phones were professionals with extreme high-pressure jobs. Being expected to respond instantly, no matter where you were or what you were doing, was portrayed as an objectively stressful way to live. But that did not stop the rapid spread of technology and its ability to make everyone available, all the time. It has affected the way we communicate faster than we’ve been able to adapt to it, taking a toll on our social skills.
Too much of a good thing: Online communication can provide a sense of community and social support for people who may not have access to them otherwise. For example, it was an important resource during the pandemic. But balancing the positive aspects of connection and the debilitating pressure of instantaneous responses hasn’t been mastered on a large scale, making many of us feel overwhelmed and burned out.
Being overwhelmed by the pressure to respond to messages may seem dramatic at face value, but how many of us have turned the visibility of our online status or read receipts off to avoid responding instantaneously? It’s all done to give ourselves plausible deniability if we take our time to message back or avoid interactions entirely.
The problem with constant access to communication tools boils down to the fact that we’re all talking to each other, all the time. As of this year, the average person spends 143 minutes per day browsing social media. Even if you view just one post per minute — which isn’t the case — you would have seen 143 posts from 143 people in just under 2.5 hours. The accepted biological threshold for your social life? 150 people.
150 is the number of people who you can have meaningful relationships with… throughout your whole life. This theory, which calculates the limit of people with whom you can have an actual long-lasting connection with, was proposed by British psychologist Robert Dunbar and has been widely accepted (though not without criticism). While you can develop up to 150 significant bonds, only 15 of those are intimate relationships or close friendships. A larger social network, says Dunbar, would compromise the quality of all your relationships.
It’s also compromising your cognitive ability… Experts have found evidence that the steady stream of notifications reduces our ability to focus and think critically. Those aren’t unfortunate side-effects — they’re expected and entirely natural consequences of constant connectivity. You can’t check your phone without checking out of what’s going on around you. In fact, there’s solid evidence that just the presence of your phone, even on silent, is enough to impact your attention span.
…and your emotional regulation. There is plenty of evidence that receiving (or not receiving) a message affects us on an emotional level. The effect of online availability and the social expectations that come with it, can trigger an emotional rollercoaster that includes anxiety, concern, and fear of rejection. Those may also be accompanied by annoyance or even anger. Most will fail to consider objective reasons behind not receiving a reply, projecting their own anxieties, and taking it as a personal slight (we are looking at you).
This also takes a toll on society. Social media is widening the divide between people with different opinions. Christopher Bail, director of the Polarization Lab, studied how technology amplifies ideological divisions alongside a team of social scientists, computer scientists, and statisticians. In 2021, they recruited 1.2k American Twitter users who identified themselves as Democrats or Republicans and paid each of them to follow a specific Twitter account. The Democrats were assigned Republican bots, and vice versa.
Bail wanted to see if exposure to a different ideology would make either group more moderate…it had the opposite effect. Bail reported that both sides had become even more entrenched in their ideologies, saying that “Republicans in particular became much more conservative when they followed the Democratic bot, and Democrats became a little bit more liberal.”
We should all know less about each other. In a 2017 study, Deb Roy, director of the MIT Center for Constructive Communication found that people had cut relations with family members, friends, and neighbors after seeing them express their opinions online. It turns out that the path to a functioning and less antagonistic society is psychic distance within our communities. So while constant connectivity as a concept was thought to make people more open-minded and empathetic, in execution, it was found to corrode our desire (and ability) to socialize.
There may not be a sustainable solution to our need (both socially and compulsively) for connectivity, but check out our guide on how to use technology mindfully and foster a healthy relationship with our devices.
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