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Tuesday, 8 Apr 2025

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

Cheat the system

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Today at a glance

1

The Big Story Today

Another agreement signed to bring the EUR 7 bn Ras Shoukair green hydrogen plant to life.
2

FOR YOUR COMMUTE

Can companies find a way around hefty Trump tariffs?
3

EAT THIS TONIGHT

A bagel worth planning your morning around.
4

Sports

Packed pitches in Europe and Africa.
5

OUT AND ABOUT

Melodic fusions at CJC.

Tuesday, 8 Apr 2025

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

WHAT WE’RE TRACKING TONIGHT

Another agreement signed to bring the EUR 7 bn Ras Shoukair green hydrogen plant to life

Good afternoon, everyone. For the second day running, the news cycle is dominated by Egyptian-French ties and the fruit of President Emmanuel Macron’s visit.

THE BIG STORY TODAY-

Getting the ball rolling on the Ras Shoukair EUR 7 bn green hydrogen plant: The Red Sea Ports Authority and the New and Renewable Energy Authority inked a cooperation agreement with a consortium of France's EDF Renewables and Egyptian-Emirati firm Zero Waste, under which it will design, build, finance, and operate its planned EUR 7 bn green hydrogen plan in Ras Shoukair, according to a statement. The agreement builds on another inked last June during the Egypt-EU Investment Conference.

THE BIG STORY ABROAD-

China fires back with a strong warning after Trump threatens additional tariffs: China’s Commerce Ministry said it would “fight to the end” if US President Donald Trump follows through with plans to slap an additional 50% tariff on Chinese goods, according to a statement. “If the United States implements the tariff escalation measures, China will resolutely take countermeasures to safeguard its own rights and interests,” the ministry said, declaring that “the US's imposition of so-called ‘reciprocal tariffs’ on China is groundless and a typical unilateral bullying practice.” The tit-for-tat escalation comes on the heels of Trump’s pledge to impose the extra duty by tomorrow midnight if China does not withdraw the 34% retaliatory tariff it applied to US goods last week, amplifying risks of a prolonged trade war between the two countries. (Reuters | Associated Press | Financial Times | Bloomberg)

REFRESHER- If Trump’s additional tariffs on China come into force, total duties on Chinese products would hit 120%.

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

  • Egypt will continue to rely on a flexible exchange rate regime as a first line of defense against global shocks, central bank Deputy Governor Ramy Aboul Naga said at the EFG Hermes One on One in Dubai attended by EnterpriseAM.
  • The EGP slipped further against the greenback in trading yesterday, sliding to fresh lows and ending the day at a selling price of around EGP 51.44-51.47 as foreign investors continue to exit amid tariff uncertainty.
  • EFG Hermes Research’s annual One-on-One live poll in Dubai presented investor expectations for the year, including a majority expecting the US trade war to escalate further.
  • Egypt and France inked a strategic partnership agreement that will focus on areas including railway industry localization, technical and vocational training, AI, cybersecurity, and green hydrogen.

☀️ TOMORROW’S WEATHER- Expect a drastic cooldown tomorrow in the capital — the mercury is expected to drop by ten degrees to 27°C in the morning, and an even cooler 14°C in the evening, according to our favorite weather app.

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2

FOR YOUR COMMUTE

Can companies find a way around hefty Trump tariffs?

How can companies exploit rules of origin to get around hefty Trump tariffs? With US President Donald Trump introducing varying tariff rates on imports from different countries, businesses have been on the lookout for tactics to avoid increased costs and global supply chain disruption stemming from the trade war the US leader launched in the past months. As a result, loopholes in rules of origin have, to some extent, been shown to be a good way to “cheat the system,” Financial Times reports.

SOUND SMART- The rules of origin — put in place by the World Trade Organization — provides simple guidelines to help determine where a product comes from, especially after it crosses borders. The rules are essential to determine tariffs and to decide whether or not an item qualifies for special treatment under trade agreements. The rules are a way to ensure rules of origin are transparent and “don't obstruct, suppress, or disrupt global trade.”

So, how can they be taken advantage of? Companies can shift their entire supply chains to countries subject to lower Trump tariffs as a way to “exploit the system,” trade policy lead at consultancy firm Flint Global Sam Lowe told the FT. He explained that products must see a substantial transformation in the export country for it to qualify for the lower tariff imposed on the export country. As the FT puts it, raw vegetables won’t qualify for lower tariffs — even if they get chopped up, frozen, or packed in the export country — while butter, flour, and milk would if they are transformed into cakes and cookies in the export country.

What could it all mean for Egypt? Since Egypt was slapped with only the blanket 10% duty — making it one of the least affected countries — it could potentially become a more attractive investment destination for international manufacturers looking to maintain access to US markets without the hefty tariffs. Some industry insiders we previously spoke to appear too optimistic, with one expecting around USD 2 bn in new investments in the ready-made garment industry as a result of the move.

Some don’t think the hassle is worth it: Despite potential savings, many companies may opt to bear the tariffs over exploiting this loophole because being able to prove that a product has been transformed in the export country is uncertain, with the final say lying with the US Customs.

What’s next? With the knowledge of how unpredictable Trump and his administration tend to be, many companies are adopting a wait-and-see approach, founder of Trade and Borders consultancy Anna Jerzewska told the salmon-colored paper.

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3

EAT THIS TONIGHT

A bagel worth planning your morning around

Bagels in Cairo are often reduced to vehicles for fillings — at Sousi’s Bagels, the bread itself is the focus. Founder Asmaa El-Said developed their signature recipe by borrowing from several bagel traditions to apply both the New York crunch and Japanese softness. The core bagel menu includes plain, sesame, everything seasoning, poppy seed, four-cheese, tomato basil, matcha, and cinnamon.

Start with the matcha: The standout was the matcha bagel paired with matcha cream cheese and raspberry jam. The result is a bagel that is complex, clean, and well balanced — earthy from the matcha, brightened by the jam.

The cinnamon bagel — filled with Sousi’s house cinnamon sauce — offers a similar restraint. Lightly sweet but not cloying, it stands well on its own but also lends itself to flexible complements, whether you’re in the mood for more sweetness or a savory contrast.

The whole wheat is a healthier option that holds its own: This one is less about flavor innovation and more about meeting a nutritional preference without compromising on texture whatsoever. It has a grain-forward profile and a direr, more toaster character, making it a practical option for those avoiding refined flour.

The poppy seed bagel is a quiet success, structurally similar to the plain, the added seeds offer a slight bitterness and crunch that make it much more interesting, particularly alongside a morning coffee or a sharper spread.

A very special shoutout to the spreads: The tomato basil and garlic rosemary options are the most refined, each offering sharpness and depth that elevate the base without masking it. They’re also portioned so generously as to enjoy it alone—a fact not lost on us.

WHERE TO GET IT- Orders must be placed a day in advance through their website for delivery or pickup from El Rehab Gate 24. While the core menu is well-executed and consistently available, the “Customize Your Bagel” feature — which requires up to four days’ notice.

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4

Sports

Packed pitches in Europe and Africa

⚽ The Champions League quarter-finals kick off tonight with two heated matches between four of the continent’s top teams, all starting at 9pm.

The Emirates Stadium will light up to host the first leg of the Arsenal vs. Real Madrid matchup, with the Gunners advancing to the Round of 16 after a 9-3 aggregate victory over PSV Eindhoven. Arsenal has never hoisted the Champions League trophy, with their closest shot being a loss in the 2006 finals to Barcelona.

Los Blancos on the other hand, hold the record for most championship victories with 15 titles under their belt, and have narrowly qualified for the quarterfinals by beating out Atlético Madrid on penalties.

The Allianz Arena is hosting Bayern Munich and Inter Milan’s first clash, a repeat of the 2010 final between the Bavarians and the Nerazurri, which saw Inter come out on top with a 2-0 score. Both teams are entering the match at the top of their domestic leagues, with Bayern Munich surpassing Bayern Leverkusen by six points in the Bundesliga, while Inter Milan sits on the throne of Serie A with three points over Napoli.

Al Ahly will meet Sudan’s Al Hilal in Nouakchott, Mauritania. The second leg of the CAF Champions League quarterfinals will air tonight at 9pm in the Cheikha Ould Bedia Stadium in the Mauritanian capital due to a force majeure preventing the home team to host on their pitch. The first leg ended with a score of 1-0 in favor of the Red Devils who have a record advantage over their rivals, with six victories in comparison to their three and four draws.

Pyramids land in Meknes. The Stade d’Honneur will oversee the Champions League match between Morocco’s AS FAR and our homegrown Pyramids, which kicks off at 9pm. The Sky Blues have a foot in door of the semifinals after a resounding 4-1 victory on the home pitch in the first leg. Pyramids are enjoying a historic season, not just by passing group stages for the first time ever, but sitting atop the Egyptian Premier League leaderboard, four points ahead of defending champions Al Ahly.

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5

OUT AND ABOUT

Melodic fusions at CJC

MARK YOUR CALENDAR-

Join Cairo Jazz Club’s night of melodic fusions today with jazz duo Earlobe, Hadi Birajakli’s Arabic indie and progressive rock set, and multi-instrumentalist artist Maya Ma’s dynamic fusion of alt-rock, pop and electronic sounds. Doors open at 8pm, and you can grab your tickets from the CJC website.

HAPPENING THIS WEEK-

Join Zahwa Art Gallery’s opening night of veteran plastic artist Ali Ashour’s Faces Of TheMargin exhibition in Downtown tonight at 6pm. The gallery will be open daily from 11am to 8pm, except on Fridays, until 30 April. Entrance is open to the public.

Channel your inner performer at the Open Mic night tonight at 8pm at Room Art Space at their New Cairo and Garden City branches. You can make reservations through Easy Kash.

Dress up for an Opera night: Make your way out tonight at 8pm to the Cairo Opera House and watch the musical ensemble Blue Nile Orchestra, led by conductor Samy Ibrahim performing classical and contemporary repertoires. Book your tickets through Tazkarti.

Today is the third day of multidisciplinary artist Hossam Abou Elela’s More Than Just AWord exhibition at Nout Gallery in Zamalek. The exhibit will be open daily to the public until Wednesday, 30 April, from 12pm to 7pm. Entrance to the gallery is unpaid.

Celebrate Palestinian heritage and art this week at The French Institute of Egypt. The institute has joined hands with music platform and cultural initiative Palestine Music Expo and the UK-based collective Network for Palestine to present Ici la Palestine (Here is Palestine). The event will take place from Tuesday, 9 April until Saturday, 12 April at the institute’s Mounira branch, and from Sunday 13 April to Monday, 14 April at the Alexandria branch. It will include film screenings, art exhibitions, concerts, workshops, and Palestinian handcrafts. Entrance to the event is unpaid, and open to the public.

Two days to go until Marwan Pablo hits the stage. The scene-setting rapper will be in concert at the American University in Cairo’s Tahrir Campus for the first time to perform El Moftah, a setlist that follows his journey in life and music. The concert will be held on Thursday, April 10 at 8pm. Tickets are available on TicketsMarche.

Don’t miss the second edition of the AUC Tahrir CultureFest this weekend: Set to take place from April 10 to April 12 in the Tahrir Square campus, this year’s edition of the festival celebrates Cairo as a global city, and all the cultures from the different parts of the world it brings together, along with food, exhibitions, a book fair, panel talks, and a bazaar. You can request an invitation on the AUC website.

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6

GO WITH THE FLOW

What the markets are doing on 8 April 2025

The EGX30 rose 0.6% at today’s close on turnover of EGP 4.8 bn (36.8% above the 90-day average). Local investors were the net sellers. The index is up 3% YTD.

In the green: Eastern Company (+7%), Oriental Weavers (+4.8%) and Sidi Kerir Petrochemicals (+3.5%).

In the red: CIB (-2.2%), Abu Qir Fertilizers (-1%) and Juhayna (-0.6%).

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THE ENTERPRISE ENTERTAINMENT CALENDAR

APRIL

6-30 April (Sunday-Wednesday): More Than Just A Word art exhibit at Nout Gallery in Zamalek.

8 April (Tuesday): Earlobe at Hadi Birajakli at CJC.

8 April (Tuesday): Open Mic night at Room Art Space.

8 April (Tuesday): Blue Nile Orchestra at the Cairo Opera House.

8-30 April (Tuesday-Wednesday): Faces of the Margin art exhibition.

9-14 April (Wednesday-Monday): Ici la Palestine event at the French Institute of Egypt.

10 April (Thursday): Marwan Pablo concert at AUC.

10-12 April (Thursday-Saturday): AUC Tahrir Culture Fest.

12 April (Saturday): She Can event at Creativa Innovation Hub, Giza.

25 April (Friday): Tamer Ashour concert at ZED Park, Sheikh Zayed.

MAY

3 May (Saturday): Enrique Eglesias at the Rixos Radamis in Sharm El Sheikh.

9 April (Friday): The Grand Show: Omar Khairat at Qubba Palace.

21-31 May (Wednesday-Saturday): Disney On Ice at Cairo International Stadium.

30 May (Friday): Adam Port at the New Administrative Capital’s Green River.

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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