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Extreme wellness

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WHAT WE’RE TRACKING TONIGHT

CBE’s Monetary Policy Committee expected to cut interest rates

Good afternoon, friends, and congratulations on another successful week. After a brief reprieve yesterday, it seems that the newscycle is back running at full speed even as we wind down for the weekend, so let’s dive in.

BUT FIRST- Happy Easter, everyone. The public and private sectors are getting two days off next week — Monday for Sham El Nessim and Thursday for Sinai Liberation Day. Bankers will also be taking the two days off in addition to Sunday in observance of Coptic Easter.

That includes us too: Our PM edition will be taking a break from your inbox on Sunday, Monday, and Thursday next week.

THE BIG STORY TODAY

It’s time for CBE to make its interest rates decision, and the consensus seems to be that the central bank’s Monetary Policy Committee will cut rates when it meets today, according to economists and analysts recently polled by EnterpriseAM. Most are pencilling in a 200 bps cut, with some saying the cut could be as large as 300 bps. The central bank has left interest rates on hold since its March 2024 rate hike — leaving them untouched at seven consecutive meetings.

ICYMI- Annual inflation ticked up slightly last month: Annual headline urban inflation hit 13.6% in March, marking an 0.8 percentage point increase from the 12.8% recorded in February, ending a four-month-long downward trend.

AND- Cairo monorail to go live in September? The National Tunnels Authority is set to inaugurate the eastern section of Cairo’s monorail, which connects Nasr City to the new capital, in September, Al Mal reports, citing sources it says are with knowledge of the matter.


SCA calls off USD 1.5 bn food security project with Qatar’s Baladna: The Suez Canal Authority (SCA) has scrapped plans for a USD 1.5 bn project aimed at developing the local dairy production and processing industry with Qatari dairy producer Baladna, head of the authority Osama Rabie told Asharq Business. While the authority offered three potential sites to the company near the Suez Canal, feasibility studies ultimately showed the project was not viable, Rabie explained.

REFRESHER- The two parties inked a joint cooperation memorandum in October 2023 to establish a cattle farm with 20k cows and an annual production capacity of 300 mn liters of milk and cultivate 280k acres in the New Valley Governorate. The plan aimed to enhance food security, create jobs, and reduce the country’s import bill and use of hard currency.

THE BIG STORY ABROAD

Trump is happy with the outcome of Japan tariff talks: Trade negotiations between the US and Japan have made “big progress,” US President Donald Trump said on his Truth Social platform after he intervened in talks with Japanese negotiators seeking exemption from the tariffs imposed on Japanese goods entering the US. While the negotiations did not end in an immediate suspension of the duties, a second round of talks between the two sides is set to take place later this month, said Japan’s lead negotiator Ryosei Akazawa, who met with Trump for 50 minutes at the White House before joining talks with other US negotiators. Japanese Prime Minister Shigeru Ishiba cautioned that negotiations “will not be easy going forward,” delivering a more cautious tone than Trump’s.

Where does Japan fall on Trump’s tariff spectrum? Trump’s 90-day suspension on additional tariffs have put a 24% duty on all Japanese imports on hold. Japan currently faces the 10% baseline universal tariff plus a 25% duty on cars, steel, and aluminum.

The talks come as Treasury Secretary Scott Bessent emphasizes a “first mover advantage” for countries seeking tariff negotiations, with Italian Prime Minister Giorgia Meloni and South Korea’s finance minister scheduled for similar discussions in the coming days. (Bloomberg I Reuters)

☀️ TOMORROW’S WEATHER- Warm days and sunny skies are up ahead in the capital, with tomorrow’s temperature slated to reach 31°C throughout the day before dropping to a chilly 16°C at night, according to our favorite weather app.

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FOR YOUR COMMUTE

What leaders can learn from bad corporate wellness initiatives

The Economist’s recent satirical memo about an office “extreme-wellness” program gone disastrously wrong isn’t just good for a laugh — it’s an insightful indictment of corporate wellness initiatives. Ernest Fadd, the fiction Director of High Performance, proudly reports on employees who tape their mouths shut at night, complete to wake the earliest, and plunge their faces in ice water during meetings. Beyond the laughs is a serious critique of how organizations approach employee wellbeing.

Corporate wellness is an industrial complex: What may begin as genuine concern for employee health often morphs into productivity-obsessed programs built around pseudoscientific trends and unrealistic expectations. The fictional company’s promotion of nasal dilation devices, red-light therapy, and vagus nerve stimulation is a true-to-life mirror to a booming market that feeds off of how real organizations latch onto health fads with minimal evidence but maximum enthusiasm. According to Athletech, blue-chip companies’ investment in their employees’ health has the corporate wellness market on track to grow to nearly USD 105 bn by 2030.

But does it work? The Harvard Business Review reports that despite 85% of the biggest companies in the US offering workplace wellness programs, “the burnout and mental health needs that they are meant to address have continued to escalate.” Fadd’s complete oblivion to the program’s failures reflects how corporate wellness initiatives often double down despite clear evidence they aren’t working — or are even actively causing harm — employees falling asleep during meetings, sustaining injuries from treadmill desks, and suffering from severe malnutrition due to misguided dietary advice. The director chalks it all up to “teething problems” that indicate the need for even more “enhancement.”

What’s the difference between competition and community anyway? Supposedly “community-building” wellness initiatives can actually foster unhealthy competition within a company. Fadd notes that two employees became “extremely competitive with each other about waking times, and ended up not going to bed at all for three days,” caricaturing how metrics-focused wellness programs undermine the very cohesion they claim to promote.

What can leaders learn from this? The Economist’s satire piece offers a wealth of valuable guidance through negative example. HBR writes that a shift from “individual-level interventions like well-being apps, AI chatbots, and employee stress management training, to broader systemic interventions such as workload management and mental health development training for leaders” is necessary to tackle workplace challenges at the root.

One-size-fits-all approaches can be unsustainable and counterproductive: “Lunchtime yoga sounds good in theory,” Dilan Gomih, who has done consulting for Google and JPMorgan told Athletech, “but taking an hour-long break in the middle of the day isn’t feasible for most white-collar workers,” and coming up with a solution that fits into employees’ actual workflows rather than idealized scenarios makes their wellness not only achievable, but convenient. “Too often people go all-in on investments like treadmill desks when they could get the same payoff by giving their employees natural light, fresh air, and some fresh fruit,” André Spicer, Executive Dean of Bayes Business School, told HBR.

Question your motivation: Are you trying to support your employees, or trying to optimize them? If your employees’ wellbeing is your primary concern, direct feedback from them on what changes they could benefit from would be more effective than making an executive decision to install treadmill desks. The most effective wellness initiatives aren’t those with the trendiest biohacks or elaborate programs — they’re the ones grounded in simple human respect. “Wellness shouldn’t be a standalone initiative,” writes Kinney, “It must be woven into the fabric of workplace culture.”

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ON THE TUBE TONIGHT

A murder in the White House

📺 Netflix’s latest mystery thriller brings high-stakes intrigue to the US’s most famous address. Based on a book of the same name by writer and journalist Kate Andersen Brower, The Residence boasts an impressive cast led by Emmy winner Uzo Aduba (who you may remember from Orange Is the New Black), and the always-captivating Giancarlo Esposito of Breaking Bad fame, for a whodunnit that blends political drama with classic murder mystery elements.

During an official dinner at the White House, the life of head usher AB Wynter is taken. The brilliant detective Cordelia Cupp (Aduba), known for her unique approach to uncovering facts and solving mysteries — as well as her great (or peculiar) passion for birdwatching —, is tasked with investigating the crime. Cupp begins her search inside the massive 132-room house with a list of over 100 suspects, each with their own grudge or motive that might have driven them to kill the head usher (Esposito).

The series delivers a thrilling story across 8 episodes, with stellar performances, especially by Aduba. Each suspect is fleshed out enough to keep the audience emotionally invested and impatient to discover the secrets they hide within the walls of the White House.

The creative cinematography was strikingly reminiscent of The Grand Budapest Hotel. The impeccable attention to detail in setting, costumes, soundtrack, and clever storytelling that keeps us on the edge of our seats until the very end.

High scores across the board: The series has received wide acclaim from both critics and audiences alike, proving to be an entertaining and engaging watch with touches of light comedy — perfect for a weekend binge.

WHERE TO WATCH- The Residence is streaming on Netflix, and you can watch the trailer on YouTube (runtime: 2:24).

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Sports

International and local leagues keep the pitches busy this weekend

⚽ Now that the Champions League semifinalists have been finalized, it’s the Europa League’s turn. Four quarterfinal second leg matches are kicking off tonight, all with starting whistles that blow at 9pm.

Manchester United are hosting Lyon at Old Trafford in an up-for-grabs match after their 2-2 draw in the first leg in France.

Tottenham will be traveling to face Eintracht Frankfurt, following another first leg stalemate that ended with a 1-1 score.

The Glasgow Rangers and Athletic Bilbao will be looking to score first after a goalless first leg.

This tournament’s surprise competitors Bodø/Glimt will meet Lazio in their Stadio Olimpico. The Norwegian team has a 2-0 advantage from their home leg.


In the UEFA Conference League: Chelsea will be welcoming Legia Warsaw at 9pm, carrying a comfortable 3-0 lead over from the first leg.


The Champions League semifinal lineup: Arsenal cemented their spot in the Champions League semifinals yesterday after doubling down on their first leg victory against Real Madrid at the Santiago Bernabéu. Inter was able to eliminate Bayern Munich on the technicality of a draw. PSG will be meeting Arsenal on the pitch for the semifinals, as Inter prepare to take on Barcelona.


On the home front, the final group stage matches of the Egypt Capital Cup continue: Group C will see Al Ahly and Farco go head-to-head at 4pm, and Tala’ea El Gaish face Enppi at the same time.

Group B headlines El Mahalla against Al Masry, and Zed against Ceramica Cleopatra — both starting whistles will blow at 7pm.

Al Ahly and Pyramids in South Africa: The CAF Champions League semifinals are kicking off on Saturday, with Al Ahly meeting the Mamelodi Sundowns at 3pm, while Pyramids face the Orlando Pirates at 6pm. The Red Giants beat out Sudan’s Al Hilal in the quarterfinals with a 2-0 aggregate victory, while the Sky Blues narrowly defeated Morocco’s AS FAR with a close 4-3 aggregate score.


Another Super Saturday kicks off Matchday 33 of the Premier League. Manchester City are meeting Everton on the Goodison Stadium pitch at 4pm, with the Citizens looking to secure a spot on the Champions League roster next season.

Aston Villa is hosting Newcastle in one of the weekend’s marquee matchups at 6pm. Both teams have been experiencing an exceptional season as they compete for European qualification.

Also on Saturday at 4pm:

  • West Ham vs. Southampton
  • Crystal Palace vs. Bournemouth
  • Brentford vs. Brighton


Barcelona’s mission to strengthen their lead in La Liga continues: Camp Nou will be seeing Celta Vigo on its pitch on Saturday at 4:15pm as part of Matchday 32 of La Liga. The Catalan Giants lead by four points over Real Madrid, and hope to use the recent boost of confidence from qualifying for the Champions League semifinals after a six-year absence against their rivals this weekend.


Other European league matches to keep an eye on this Saturday:

  • Heidenheim vs. Bayern Munich — Bundesliga (3:30pm)
  • Paris Saint-Germain vs. Le Havre — Ligue 1 (5pm)
  • Monza vs. Napoli — Serie A (6pm)
  • Roma vs. Hellas Verona — Serie A (8:45pm)
  • Atlético Madrid vs. Las Palmas — La Liga (9pm)

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OUT AND ABOUT

History is a street you can walk down

MARK YOUR CALENDAR-

🎞️ Film aficionados, get ready to walk through 100 years of Egyptian cinema. On Saturday, 19 April, Qahrawya will tour through famous shooting locations, old cinemas, and the film studios of yore to help us appreciate the magic of vintage films and the great work studios are doing today. You can find more details on their Facebook page, or use the link in the event bio to register.

HAPPENING THIS WEEK-

Massar Egbari will hit the stage next Friday in Sheikh Zayed: The band is bringing their signature sound and fan favorites to Teatro Arkan on Friday, 18 April. The concert kicks off at 8pm, and tickets are available now on TicketsMarche.

Multidisciplinary artist Hossam Abou Elela’s More Than Just A Word 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.

HAPPENING LATER-

Tamer Ashour on the ZED stage. Get ready to see Tamer Ashour on the bigstage at ZED Park in Sheikh Zayed City on Friday, 25 April starting at 8pm. Tickets are available on Tazkarti.

Society of Play + Al Zomra = Easter Breeze. Head to Uptown Cairo on Saturday, 26 April at 12pm to celebrate Easter with outdoor picnics, grill stations, egg painting, pottery, musical activities, and a golden egg hunt. You can reserve your spot on TicketsMarche.

Have you hopped on the latest game night craze? Boom Room is hosting a night of strategy and competition as the Skrew Official Tournament kicks off on Friday, 2 May. Tickets are available on Ticketsmarche.

The king of latin pop lands in Egypt. Grammy-winning global superstar Enrique Eglesias will be performing at Rixos Radamis, Sharm El Sheikh on Saturday, 3 May. Tickets to the concert are exclusive to guests at Rixos Radamis and Rixos Premium Seagate hotels and resorts.

Omar Khairat’s Grand Show is taking place on Friday, 9 May. Dress up in your finest formal wear and head to the Qubba Palace to experience the iconic composer’s unforgettable talent. Tickets are available on TicketsMarche.

Fans of smooth jazz have a rare chance to see Michael Bublé live on Monday, May 26 at the New Capital. The Grammy winner promises a landmark concert with his smooth, soulful voice and timeless hits for one special evening in Egypt. Tickets are now live on TicketsMarche.

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GO WITH THE FLOW

What the markets are doing on 17 April 2025

The EGX30 rose 0.1% at today’s close on turnover of EGP 3.1 bn (30.7% below the 90-day average). Regional investors were the sole net buyers. The index is up 4.5% YTD.

In the green: GB Corp (+2.9%), Orascom Development (+1.3%), and CIB (+0.9%).

In the red: Ibnsina Pharma (-3.1%), Fawry (-2.1%) and Juhayna (-1.2%).


APRIL

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

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

18 April (Friday): Massar Egbari concert at Teatro Arkan.

19 April (Saturday): Cosmos Film Tour by Qahrawya.

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

MAY

2 May (Friday): Skrew Official Tournament at the Boom Room.

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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