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Double-edged sword

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WHAT WE’RE TRACKING TONIGHT

Chinese company sets up USD 1.65 bn industrial complex in SCZone

Good afternoon, wonderful people. It seems that the news lull we predicted has proven false. Today’s issue is packed with local, international, and cloud-based news, and a couple of recommendations if you’re enjoying a night in.

THE BIG STORY TODAY-

Chinese steelmaker Wu’an Xin Feng has a plan to set up a USD 1.65 bn integrated industrial complex in the SCZone, which is planned to house nine factories and create 8k jobs, according to an Industry Ministry statement. The first phase will include four factories for automotive brake components, household appliance parts, standard fasteners, and hot-rolled steel coils, while the second phase will add five more factories, producing automotive parts made from aluminum and magnesium alloys, construction machinery components, and cold-rolled steel coils.

THE BIG STORY ABROAD-

Natural disasters — instead of man-made ones — lead the world’s press this afternoon, with news that potentially thousands have been killed after Cyclone Chido hit the French territory of Mayotte in the Indian Ocean. The category four storm — said to be the worst cyclone to hit the island since 1934 — has left Mayotte’s healthcare and infrastructure in tatters and ripped through the territory’s shantytowns. French authorities say that some 800 medical personnel will arrive to aid the survivors. (Reuters | CNN | Guardian | NPR)

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

  • Oliv has secured Egypt’s first digital factoring license from the Financial Regulatory Authority. The move will see Oliv leveraging the government’s e-invoicing infrastructure to bring a fresh product to the underserved SME financing market this week.
  • Egypt’s first SPAC is gearing up for its first acquisition. Impact investor Catalyst Partners’ SPAC, Catalyst Partners Middle East (CPME) is looking to acquire digital lending marketplace Qardy through a full or partial share swap.
  • The gov’t laid out the 23 industries that it's looking to localize, adding that the state is offering incentives and facilities to attract investments into these selected sectors.

☀️ TOMORROW’S WEATHER- Temperatures in the capital tomorrow will maintain this week’s chill, with expected highs of 22°C and low of 12°C at night, according to our favourite weather app.

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FOR YOUR COMMUTE

AI is hunting down AI-enhanced job applications

AI was supposed to make job hunting easier, but it's having the opposite effect. Companies are on high alert for candidates using AI to fix up their CVs, leading to a hiring crackdown that could make landing a job even tougher, Business Insider reports.

(Tap or click the headline above to read this story with all of the links to external sources.)

It’s all in the numbers: Reports from Workday reveal that 72% of business leaders have raised their hiring criteria in the first half of 2024. Recruiters predict that this percentage will only increase as more companies — ironically — use AI to screen for candidates using AI to submit job applications. “Big companies are using AI to go through that stack, that AI has brought first place, and it's becoming this ridiculous tit-for-tat battle,” said Recruit Rockstars CEO Jeff Hyman.

This is just the beginning: Job applications in 2024 have grown four times faster than job openings, overwhelming HR teams. Recruiters are now assessing candidates more closely, conducting longer interviews, and focusing on verifying whether a candidate's CV matches their real abilities. Tim Sackett, president of tech staffing firm HRU Technical Resources, noted that AI-powered fraud detection tools will make the hiring landscape even more competitive than it already is.


Should we pull the plug on AI before it’s too late? Former Google CEO Eric Schmidt, has expressed concern over computer systems developing the ability to self improve, warning that there may be unforeseen dangers in the rampant development. "We seriously need to think about unplugging it,” he was reported saying by Axios.

Why? Computers may soon begin “running on their own, deciding what they want to do,” he added. And that doesn’t seem too far away considering Google has already built an AI personal assistant that makes decisions for you without pulling the trigger — developing an ability to execute these decisions might be when the technology presents a danger to humanity. Schmidt hopes that pulling the plug at that point will prevent reaching a scenario where the technology could refuse to or prevent being shut down — that’s the plot of The Terminator right there.

Is leveling out the playing field a good thing? Once the tech becomes widely accessible and even more powerful, every single person is going to have a PhD-level intelligent being —not a human nor a computer, as Ethan Mollick put it — in their pocket. "We just don't know what it means to give that kind of power to every individual," says Schmidt.

No signs of stopping. The boundaries in the AI race have been continuously pushed over the past few years, and the companies are still aiming for larger advancements. “I’ve never seen innovation at this scale,” said Schmidt.

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ON THE TUBE TONIGHT

As if airport travel wasn’t already a nightmare…

? Step aside Bruce Willis, Taron Egerton is swiping the Christmas action movie title with Carry-On: Taron Egerton portrays a TSA agent caught in a literal life or death situation in an adrenaline fueled holiday thriller that will keep you in the festive spirit and on the edge of your seat.

(Tap or click the headline above to read this story with all of the links to external sources.)

Ethan Kope is a TSA agent working the Christmas shift at LAX where holiday cheer takes a backseat to long lines and grumpy travelers. Ethan’s life is already complicated — being unhappy at his job and unexpected news of a baby with his girlfriend Nora (Sofia Carson) adds to his struggles. But his routine is suddenly stopped in its tracks when an earpiece is left in a tray from the X-ray monitor.

Once he wears the earpiece, he gets an ultimatum from a terrorist (Jason Bateman) that threatens the lives of all travelers in the airport. With Nora’s life on the line, Ethan is forced to let a suspicious bag through security, setting off a chain of unforeseen and adrenaline-inducing events.

We’re getting good old-fashioned action without an overcomplicated story this holiday season. Carry-On delivers non-stop tension and entertainment, classic action tropes, good pacing, and just enough heart to keep you invested.

WHERE TO WATCH- You can watch the film on Netflix, or catch the trailer on YouTube (runtime: 2:49).

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EAT THIS TONIGHT

When is a burger not a burger?

? Ever heard of sausage and burger artistry? Hankology specializes in creating crafted sandwiches that go beyond the traditional burger or hotdog. With its diner style menu, this place offers high quality fast food.

(Tap or click the headline above to read this story with all of the links to external sources.)

Go there for the sausage burgers. Between the freshly baked buns lies a spiral link of sausage instead of a burger patty. Not only is this a flavor that is entirely different from your standard burger, but it makes for a particularly Instagram-worthy sandwich. The Turk Twist was especially delicious — the spiced sausage is topped with a tangy smoked barbecue dressing. This may sound like an overload of flavor, but Hankology manages to create the perfect balance between sharp and tart.

Looking for something a little more familiar? We’d nominate the Shroom Smash Burger. It has two smashed burger patties topped with a creamy white mushroom sauce that's rich, savory, and quite delicious.

WHERE TO FIND IT- Hankology has branches in Sheikh Zayed’s Majarrah and New Cairo’s Fuel Up. You can order online from Talabat, or from the delivery number in their Instagram bio.

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Sports

EPL and Serie A close out matchday 16

A calm has settled on the football pitches today as fans turn their attention to matchday 16 in both the Premier League and Serie A. Bournemouth will be taking on West Ham at 10pm, while Lazio faces Inter at 9:45pm.

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OUT AND ABOUT

Cairo Symphony Orchestra + A Cappella Choir

MARK YOUR CALENDAR-

Enjoy a music filled night with Cairo Symphony Orchestra and A Cappella Choir in Musica Vocalis III. The show will take place at the Main Hall of the Cairo Opera House on Saturday, 21 December at 8pm. Tickets are available on Tazkarti.

(Tap or click the headline above to read this story with all of the links to external sources.)

HAPPENING THIS WEEK-

There are 160 of Egypt’s most celebrated and promising artists on show for the 10th edition of Cairo Art Fair that is on now at TAM Gallery in Abu Rawwash until Friday, 31 January.

Immerse yourself in folklore in the grandeur of Islamic Cairo’s El Ghuri Dome. Folkolirta will take to the stage at the historic El Ghuri Dome in the heart of Islamic Cairo for a night of traditional Egyptian music this Thursday, 19 December at 8pm. Reservation details can be found on the event’s Facebook page.

Maryam and Nagham Saleh will delight the audience with an Ahmed Adaweyah tribute night in their new concert Goz Wala Fard at Nihad Saliha Theatre. The performance takes place on Friday, 20 December, and tickets are available here.

El Maraya for Culture and Arts is hosting a panel discussion on five celebrated films by female directors: El Hawa Sultan, Al Shanab, El Fustan El Abyad, Meen Yisadda’, and Raf’at Einy Lil Sama. Featuring critics Arwa Taj El-Din, Amal Magdy, Aliaa Talaat, and Fatma Ragah, moderated by Norhan Emad El-Din, the event takes place this Saturday, 21 December at 6:30pm.

HAPPENING LATER-

Party from dusk till dawn at Disco-Tech x Retrogroove. The party will take place on Thursday, 26 December at Cook's Club El Gouna featuring Disco-Tech residents Moenes, Jess, Mazen A, and Muze, retrogroove's residents Ralph Nasr and EJ, and guest DJs Akladios, Hermit, Maie and Joey. Grab your tickets on Ticketsmarche.

Folklore — but make it Christmassy. Tablet El Sitt is back with a Christmas-themed performance at Theatro Arkan on Friday, 27 December at 8pm. Tickets are available on Ticketsmarche.

Your New Year’s Eve plans are sorted. The maestro of modern electronic music, KAS:ST, will be playing at Le Lac Du Caire on Tuesday, 31 December for an iconic X-HÄUS New Year’s Eve party. Tickets are available at Collard Tickets.

…Or if you’re looking for a night of nostalgic Arabic tunes, head to CJC 610 this New Year’s Eve with Hisham Abbas and Hamid El Shari. Doors open at 8pm, and the party starts at 10pm. Message their Facebook page to reserve your spot.

End the year with some laughs at comedian Ali Quandil’s 600th show. The show will take place at Theatro Arkan at 8pm. Tickets are available on Ticketsmarche.

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GO WITH THE FLOW

What the markets are doing on 16 December 2024

The EGX30 rose 0.1% at today’s close on turnover of EGP 3.9 bn (6.9% below the 90-day average). Foreign investors were the sole net buyers. The index is up 23.7% YTD.

In the green: GB Corp (+4.4%), TMG Holding (+2.5%), and Emaar Misr (+1.8%).

In the red: Cleopatra Hospitals (-2.4%), Oriental Weavers (-1.6%), and Elsewedy Electric (-1.5%).


DECEMBER

6 December-31 January (Friday-Friday): Cairo Art Fair at TAM Gallery.

13-22 (Friday-Sunday): Arkan’s Farmers Market.

15-17 December (Sunday-Tuesday): Cairo Blockchain Week at the Cairo Citadel.

16-17 December (Monday- Tuesday): Omar Khairat concerts at the Cairo Opera House.

19 December (Thursday): Bahaa Sultan and Mahmoud El Esseily concert at ElMalahy Arena.

19-21 (Thursday-Saturday): District 5’s Christmas Market.

21 December (Saturday): Musica Vocalis III at the Cairo Opera House.

24 December (Tuesday): Ali Quandil standup comedy at Boom Room, Open Air Mall Madinaty.

25 December (Wednesday): Gaby Bishara Christmas Concert at Boom Room, Open Air Mall Madinaty.

25 December (Wednesday): Nile Techno with El Fashni at the Royal Club Mohamed Ali.

26 December (Thursday): Disco-Tech x Retrogroove at Cook's Club El Gouna.

27 December (Friday): Afroto at El Malahy.

27 December (Friday): Tablet El Sitt at Theatro Arkan.

31 December (Tuesday): KAS:ST at Le Lac Du Caire.

31 December (Tuesday): Hisham Abbas and Hamid El Shari at CJC 610.

31 December (Tuesday): Ali Quandil’s 600th show at Theatro Arkan.

JANUARY

18 January (Saturday): Founders Live Cairo at Creativa Innovation Hub.

29-31 January (Wednesday-Friday): The Fire of Anatolia at the Cairo Opera House.

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