Do wellbeing days stop burnouts?

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WHAT WE’RE TRACKING TONIGHT

THIS EVENING: BRICS is mulling its first syndicated loan that could include Egypt

Good afternoon and happy near-Thursday. We can see the weekend around the corner as we come to a close to this sluggish news week.

THE BIG STORY TODAY

BRICS eyes its first-ever syndicated loan and we may get a slice: The New Development Bank, established by the BRICS group of emerging economies, is seeking its inaugural syndicated loan of USD 1.25 bn with a three-year tenor, writes Bloomberg, citing sources it says in the know. The Shanghai-based lender aims to use the loan for infrastructure and renewable energy financing in member states Brazil, India, China, Bangladesh, South Africa, and Egypt. Interested Asian and Middle Eastern banks have until the end of November to submit their commitments. The bank is looking to expand its membership and do more local currency lending.

THE BIG STORY ABROAD

Several updates on the Israeli war on Gaza continues to dominate the conversation in the western media:

The US is quickly intensifying their military presence in the region as concerns around Iran and its allies increasing their attacks on US forces in the area continue to grow as Israel decides on the date of their ground offensive in Gaza. On another front, the US is rallying Gulf Arab states to stop and report any suspected fundraising for Hamas. In the Terrorist Financing Target Center’s latest meeting in Riyadh, Brian Nelson, the US Under Secretary for Terrorism and Financial Intelligence, pushed Gulf states to share any intelligence acquired that suggests that Hamas is raising funds in an effort to impose sanctions on people or entities providing the finances. (Bloomberg | Financial Times)

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

A “humanitarian pause” of Israel’s war on Gaza may be in the works after intense debate at the UN Security Council yesterday. The United States remains firmly opposed to a ceasefire, but there are signs it could be pushing Israel for a brief break or slowdown in the brutal bombardment to let more aid into Gaza, with allies including Canada and Australia now agreeing civilians need to be thrown a lifeline of some (vague, undetermined) form.
Got milk? The Suez Canal Authority signed a joint cooperation memorandum with Qatari dairy producer Baladna that will see USD 1.5 bn invested into developing the local dairy production and processing industry.
Infinity Power sets 10 GW renewables target: Local renewable energy developer Infinity Power aims to grow its clean energy portfolio to reach 10 GW by 2030.

FOR TOMORROW-

PSA- We’re turning back our clocks. Daylight savings time will end in Egypt tomorrow at midnight, so don’t forget to turn back your clocks and enjoy that extra hour of sleep on Friday morning.

?️ TOMORROW’S WEATHER- Look for the mercury rising to 33°C in the daytime and dropping to 23°C in the nighttime, tells us our favorite weather app.

PLUS - Watch out for fog tomorrow morning as you drive to work. The Egyptian Meteorological Authority shared that a nation-wide heavy fog will lower visibility during the early hours of the day.

Women’s protest in Iceland brings nation to a halt + Do well-being days really work?

Icelandic women took to the streets to protest continued gender disparity. The Nordic Island nation that has the most gender equal society witnessed a nation-wide protest, which is their seventh since 1975’s historic walk-out, Bloomberg reports. The demonstration gathered over 25k women and nonbinary people to shed light on the 21% percentage point difference in the gender pay gap, the unequal distribution of unpaid work at home, and 40% of women who are subjected to violence. Lending her voice and presence to the crowd was Prime Minister Katrin Jakobsdottir who also joined the demonstrations.

The protest brought the country’s economy to a standstill sparking nationwide concern. As thousands flocked to the country’s capital during the demonstration, establishments, such as the 80% female-staffed National University Hospital, came to a near stop. And with a population of approximately 400k it can be surmised that the protest triggered some alarm. Sigridur Margret Oddsdottir, the first woman to run the SA Confederation of Icelandic Enterprise, raised concerns about stopping the economy for a full day. Acknowledging the impact it has on the economy, she even suggested notifying supervisors to avoid the losses that can emerge from rallies of this magnitude.

Arewellbeing days the answer to employee happiness? With 77% of US workers facing work-related stress last month and 57% experiencing workplace burnout it appears that wellbeing days, given to employees to spend on their mental health and, well, well-being, may be a welcome solution, according to the Financial Times. This day-off, which began during Covid-19 to mitigate the strain of working during the pandemic, became a permanent fixture for some companies. For instance, LID, a business book publisher, offers wellbeing days during periods where there are no official holidays for employees to break away from work and engage in enriching and often personal activities. Other businesses are taking it a step further: Adobe, Burberry, Bumble, and Virgin Money provide additional days off, extended breaks, or half-days during seasons, such as Christmas or the summer.

But if you have a culture of overworking, then wellbeing days are not enough. Jennifer Moss, the author of The Burnout Epidemic: The Rise of Chronic Stress and How We Can Fix It, highlights the importance of addressing mental health needs before they escalate and turn into a full-on burnout. She also proposes that the wellbeing days are planned in the company calendar and assigned for the entire labor force — not on an individual, or departmental basis. Not doing so would make employees apprehensive of missing out on a meeting or email, in turn, making employees anxious on a day that should help them unwind.

Big Vape: How one ambitious company started a health epidemic for the American youth

? ON THE TUBE TONIGHT-
(all times CLT)

Big Vape: The Rise and Fall of Juul tells the tale behind the sleek e-cigarette. This four-part docuseries released by Netflix and directed by R.J. Cutler chronicles the tumultuous journey of the controversial electronic cigarette company, Juul. It is an adaptation of a book called Big Vape: The Incendiary Rise of Juul and serves more as a cautionary tale, highlighting the dangers of unchecked ambition and the unforeseen consequences of a product marketed to the wrong audiences. The series tracks the humble beginnings of Juul from a Silicon Valley startup driven by the idealism of two Stanford graduate students (James Monsees and Adam Bowen) to its transformation into a multi-bn-USD tobacco empire — valued at USD 38 bn at its peak. They wanted to create a sleek new innovation, but they turned out to be responsible for an epidemic of youth addiction and lung disease. The series delves into the company’s strategic marketing campaign, which took aim at youth culture and the success of their edgy ads were short-lived as they faced intense criticism and triggered new regulations imposed by the Food and Drug Administration (FDA). If you’re headstrong on vaping, do know that the series does not shy away from addressing the health crisis linked to the practice.

Garten brings four cuisines together for a very global dining experience. Egyptian, Lebanese, Italian, and Turkish dishes come together in this restaurant located in Trivium, New Cairo. The diverse menu features famous dishes from each cuisine but throws in a few fusion options. One such example is the Risotto, which involves a slow-cooked oxtail blended with cream, and topped with grated Parmigiano Reggiano cheese. The risotto had a bite, though — so do indicate to your server to have it cooked until tender if you want a smoother texture. Another item of note was the Tomahawk sandwich: This was a solid choice, the filling concoction included tender beef slices, green peppers, and then drizzled with rich cheese sauce. However, the cheese sauce does overpower the sandwich, so having the sauce as a side would be a wiser choice. From the Turkish kitchen, Ali Azeem (the name of the meal) impresses: Expect tender beef filets set on a creamy eggplant puree and served with baked baby potatoes. If you want to have a refreshing salad on the side, the Gorgonzola salad is a good option to complement your meal.

The Russian Tchaikovsky Symphony Orchestra is coming to Egypt for the first time, with three concerts scheduled in Cairo and Alexandria. The Cairo concerts are scheduled for Sunday and Monday, 5 and 6 November at the Cairo Opera House in Zamalek, while the Alexandria concert will follow on Tuesday, 7 November at Sayed Darwish Theater. You can book your tickets for the concerts from here, here and here.

Don’t miss Tamer Ashour at Sheikh Zayed’s Zed Park on Friday, 10 November at 8pm. Tickets are available on TicketsMarche.

Russell Peters is coming to Egypt for the second time: He will be performing on Saturday, 11 November at the Marquee Theatre, Cairo Festival City (CFC). The show will start at 8pm.

The Masr El Gedida Carnival is back and will take place in Merryland Park on Saturday, 25 November at 10am.

If you relish uncovering murders then The Guest List is calling your name. The whodunit thriller by Lucy Foley begins with an A-list wedding that dwindles down to a body and a collection of characters who were not fans of the couple-to-be. Set on an island in Ireland where a couple are celebrating their luxurious wedding together with their guests. The caveats: An island surrounded by rough seas, poor cellular service, and several intoxicated guests who may have some feelings for one of the happy couple. Look for awkward speeches, spoiled wedding dresses, and, of course, a body that makes everyone a suspect. The book is a slow burner with several points of view that can be confusing at times, but may serve to engage the reader as the pages turn.

What the markets are doing on 25 October 2023

The EGX30 rose 3.4% at today’s close on turnover of EGP 5.1 bn (125.4% above the 90-day average). Regional investors were net sellers. The index is up 58.5% YTD.

In the green: TMG Holding (+20.0%), Oriental Weavers (+13.9%) and Egypt Kuwait Holding (+10.6%).

In the red: Mopco (-6.2%), Orascom Construction (-2.0%) and AMOC (-0.7%).

THE ENTERPRISE ENTERTAINMENT CALENDAR

12 October-5 November: D-CAF (Downtown Contemporary Arts Festival), Downtown, Cairo.

25 October (Wednesday): El Waili, Afroto & Jaadu concert at Cairo Jazz Club.

26 October (Thursday): “Lab of Horrors” Adult Night at Kidzania.

26 October (Thursday): Saad ElOud concert at Arkan Plaza.

26 October - 3 November (Thursday-Friday): The 15th Annual Cairo International Jazz Festival at AUC’s Tahrir campus.

26 October-5 November (Thursday-Sunday): Cairo Jazz Festival at AUC Tahrir.

26 October (Thursday): ABBA Costume Party at Room Garden City.

27 October (Friday): Haunted Mansion Night at Cairo Jazz Club.

27 October (Friday): Cairo Vintage Souq at The Greek Campus.

27 October (Friday): Night Hiking Adventure in Wadi Degla.

28 October (Saturday): Wall of Sound: Dark Mode Experience at Cairo Jazz Club 610.

28 October (Saturday): Creepy Carnival at KMT House.

28 October (Saturday): DJs Kygo, Tiësto, Kung and Frank Walker concert, Giza Pyramids.

31 October (Tuesday): Halloween Costume Party at Cairo Jazz Club.

NOVEMBER

4 November (Saturday): Edward Said Memorial Lecture at AUC Tahrir.

4 November (Saturday): Ahmed Helmy interview with Mahmoud Saad and Wust El Balad Band concert with George Kolta Orchestra at Arkan Plaza.

5-6 November (Sunday-Monday): The Russian Tchaikovsky Symphony Orchestra concerts, Cairo Opera House, Zamalek.

7 November (Tuesday): The Russian Tchaikovsky Symphony Orchestra concert, Sayed Darwish Theatre.

10 November (Friday): Tamer Ashour’s concert, Zed Park Sheikh Zayed.

11 November (Saturday): El Gouna Half Marathon 2023, El Gouna.

11 November (Saturday): Russell Peters stand-up comedy show, The Marquee Theatre, Cairo Festival City Mall.

14-15 November (Tuesday-Wednesday): Destination Africa Expo at Royal Maxim Palace Kempinski.

15-24 November (Wednesday-Friday): Cairo International Film Festival (CIFF).

16 November (Thursday): ELFIT Sports and Fitness Games at New Capital Sports City.

25 November (Saturday): Masr El Gedida Carnival at Maryland.

26 November (Sunday): Souad Massi concert at Tap East.

DECEMBER

1 December (Friday): Cairo Fun Festival by Bike Zone Egypt in Heliopolis.

EVENTS WITH NO SET DATE

2023: The inauguration of the Grand Egyptian Museum.

Q1 2024: Opening of the newly developed Pyramids Plateau in Giza.

2024

JANUARY

7 January (Sunday): Coptic Christmas.

25 January (Thursday): Revolution Day.

APRIL

6 April (Saturday): Coptic Easter.

9 April (Tuesday): Eid El Fitr (TBC).

25 April (Thursday): National holiday in observance of Sinai Liberation Day (TBC).

MAY

1 May (Wednesday): National holiday in observance of Labor Day (TBC).

6 May (Monday): Sham El Nessim (TBC).

JUNE

15-19 June (Saturday-Wednesday): Eid El Adha (TBC).

30 June (Sunday): June 30 Revolution Day (TBC).

JULY

7 July (Sunday): National holiday in observance of Islamic New Year (TBC).

23 July (Tuesday): Revolution Day (TBC).

SEPTEMBER

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

OCTOBER

6 October (Sunday): Armed Forces Day.

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