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WHAT WE’RE TRACKING TONIGHT

EGP breaches 50 level to the USD in banks

Good afternoon folks, and happy Thursday. Buckle in for some news and views as we careen headfirst into the weekend.

THE BIG STORY TODAY

#1- The EGP fell to its lowest level ever earlier today, recording EGP 50 against the greenback after losing EGP 0.3, Al Arabiya reports. The highest rate was seen at Abu Dhabi Islamic Bank, selling at EGP 50.05, while the Central Bank of Egypt reported an average rate of EGP 49.91.

#2- The CBE greenlights receiving remittances via Instapay: The CBE has given the green light to a number of banks to start accepting Egypt-bound remittances from abroad through the central bank’s payment platform Instapay, the bank said in a statement (pdf) today without naming the banks in question.

#3- eSIMs have arrived in Egypt: The National Telecom Regulatory Authority (NTRA) today announced that eSIM service has officially kicked off at four mobile service operators in a statement (pdf). The new tech — which is set to replace physical SIM cards — will allow users to switch between mobile operators without replacing their SIM card, and will add another layer of protection against SIM theft or misuse, according to the statement.

THE BIG STORY ABROAD

It’s a mixed bag in the int’l press this afternoon, with the world’s front pages largely dominated by the ongoing political crisis in France. President Emmanuel Macron has been meeting with allies ahead of his expected appointment of a new caretaker government, following the unseating of Prime Minister Michel Barnier after a coalition of parties on France’s left and far-right toppled his government yesterday. Macron faces a difficult choice as he navigates the demands of the parliament’s blocs, as further political deadlock could lead to a vote of no confidence in him and early presidential elections before the end of his term in 2027. (Financial Times | Reuters)

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

  • It looks like IPOs could become an increasingly important part of the government’s privatization push, with Prime Minister Mostafa Madbouly telling reporters that a plan to offer three to four companies affiliated with the military on the bourse.
  • Scatec’s Obelisk Solar was granted a golden license for a USD 600 mn solar project over a 16.3 sq km area in Nagaa Hammadi.
  • El Wazir goes to Italy: Transport and Industry Minister Kamel El Wazir has been inItaly this week to view the country’s high speed rail network and discuss transport and industrial investments and cooperation with a number of public and private sector representatives from Italy and elsewhere.

☀️ TOMORROW’S WEATHER- We’re expecting a cloudy day in the capital tomorrow, with the mercury peaking at 24°C in the morning and dipping to 14°C in the evening, according to our favorite weather app.

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FOR YOUR COMMUTE

BTC surges past USD 100k

After a concerning dip last week, BTC surges past USD 100k, trading at USD 103.4k. We saw crypto leaders sweating last week when BTC crashed to USD 90k after a Trump-induced rally. While some experts expected it to further tumble to USD 80k, bn’aire crypto guru Michael Novogratz, was confident that Trump’s pro-crypto cabinet would have BTC breaking USD 100k in a matter of time. And he was right.

Call it the upside of the risk of investment. This is a result of expected US interest rate cuts in 2025, as well as the anticipated approval of BTC-focused ETFs, which is causing a growing institutional interest in cryptocurrencies, says Reuters.

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

Why the interest rate matters: The current implied chance of a rate cut stands at 75%, which makes riskier investments like stocks and cryptocurrency more attractive. Along with the BTC hike, stocks including the S&P500, Nasdaq, and Dow have all hit record highs — signalling this growing confidence in the US economy.

But not everyone is optimistic: “Everything is going the right way, right now,” said Francois Savary, Chief Investment Officer at a wealth management firm. Savary believes that once Trump takes office, people will realize that his economic policies regarding crypto “could have some potential inflationary impact.”

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ON THE TUBE TONIGHT

A simple girl enters the dark world of Russian spies

? This one’s dark… In Red Sparrow, Dominika Egorova (Jennifer Lawrence) is a former ballerina turned Russian spy. She experiences a career-ending injury and is forced to begin training at Sparrow School — a secret Russian intelligence program — in order to provide for her mother.

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The plot: After being trained in the art of seduction, manipulation, and psychological warfare, Dominika is sent on an assignment to uncover a mole within the Russian Intelligence by seducing CIA agent Nate Nash (Joel Edgerton). The spy vs spy dynamic is interesting but is introduced at a slow pace that is heavy on the graphic violence rather than adding narrative depth. Dominika struggles to maintain control of her life as the lines between ally and enemy become blurred.

The performances are impressive. Jennifer Lawrence delivers an excellent performance as Dominika along with Charlotte Rampling, who played the head of Sparrow School.

WHERE TO WATCH- You can watch the movie on Netflix or catch the trailer on Youtube (runtime: 2:34).

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Sports

Round 14 of Premier League comes to a close + Al Ahly in South Africa + more European matches

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⚽ Two matches are closing out Round 14 of the English Premier League tonight: Fulham and Brighton will be going head to head at 9:30pm, followed by Bournemouth and Tottenham at 10:15pm.

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The 15th round of the EPL will kick off with the Merseyside derby. Everton and Liverpool will meet on the pitch at Goodison Stadium on Saturday at 2:30pm. The Reds still sit comfortably at the top of the scoreboard despite a draw against Newcastle, while the home team struggles to climb up from the bottom of the table.

Manchester City seem in high spirits after finally clinching a victory, and hope to continue the streak going into their match with Crystal Palace on Saturday at 5pm. Man United and Nottingham Forest will hear their match whistle blow at 7:30pm on the same day.

Other EPL matches taking place on Saturday, both at 5pm:

  • Brentford vs. Newcastle
  • Aston Villa vs. Southampton

**Don’t miss out on the fierce competition in the Enterprise Fantasy Premier League — click on this link or use the code dlrxz4 to join.

The Red Devils land in Johannesburg: Al Ahly will be visiting the Orlando Pirates on Saturday at 3pm for Matchday 2 of the CAF Champions League. These two Group C teams managed to pass the initial group stage, but our homegrown champs lead the group on goal difference.

Another clash shakes up La Liga: Barcelona will be facing Real Betis in the Round of 16 of the Spanish league on Saturday at 5:15pm. The Blaugrana still lead the pack with four points to spare over Real Madrid. Los Blancos missed the chance to close the gap by falling to Athletic Bilbao yesterday, but have another shot on Saturday at 10pm against Girona.

Keep your eyes on these matches over the weekend:

  • Lazio vs. Napoli — Coppa Italia (Thursday, 10pm)
  • Inter Milan vs. Parma — Serie A (Friday, 7:30pm)
  • Atalanta vs. Milan — Serie A (Friday, 9:45pm)
  • Auxerre vs. Paris Saint-Germain — Ligue 1 (Friday, 10pm)
  • Frankfurt vs. Augsburg — Bundesliga (Saturday, 4:30pm)
  • Bayern Munich vs. Heidenheim — Bundesliga (Saturday, 4:30pm)
  • Leverkusen vs. St. Pauli — Bundesliga (Saturday, 4:30pm)
  • Juventus vs. Bologna — Serie A (Saturday, 7pm)
  • Mönchengladbach vs. Dortmund — Bundesliga (Saturday, 7:30pm)
  • Roma vs. Lecce — Serie A (Saturday, 9:45pm)

The draw for the 2025 FIFA Club World Cup will be held tonight at 8pm. FIFA will be implementing their new system in determining the participating 32 teams, instead of the traditional one that only included continental champions. The tournament is expected to run from 15 June to 13 July, and our very own Al Ahly will be participating.

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OUT AND ABOUT

Party with Tul8te

MARK YOUR CALENDAR-

? You’re not too late to Tul8te. This is your last chance to secure tickets to watch masked viral singer Tul8te take the stage at ZED Park as part of The Cocktail Tour tomorrow at 8pm. Tickets are still available on Ticketsmarche.

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

HAPPENING THIS WEEK-

The High Five are about to bring some laughs to El-Rehany Theater Downtown tomorrow at 8:30pm. Tickets for the show are available through Ticketsmarche.

Dance the day away at the Kloud experience. The party will take place tomorrow at Royal Club Mohamed Ali starting at 2pm. The lineup includes Hey-D, Joe Aiaad, Maged, Nizo, Samaha, Sherif Rafik, and Ziad Mousa. Grab your tickets from Collard Tickets.

Calling football fanatics. Don't miss the Round of 16 live show with Mahmoud El Mahdy at Theatro Arkan Theater on Saturday, 7 December at 8pm. Tickets are available through Ticketsmarche.

Connect with top industry leaders, sharpen your skills in expert-led workshops, and celebrate the achievements shaping the future of finance at AFP Future of Finance. The conference will take place on Saturday, 7 December at Conrad Cairo Hotel and Casino. Register through Beacon.

Time for some Christmas magic. Cairo Vintage Souq is putting together a festive event on Saturday, 7 December at Al Zohriya Garden in Zamalek where anyone can join and celebrate the holidays.

Rap meets the grandeur of a full symphony orchestra at Red Bull Symphonic. Witness Marwan Pablo performing alongside the Cairo Celebration Choir and Orchestra, led by the acclaimed Maestro Nayer Nagui. The event will take place at the iconic Grand Egyptian Museum on Saturday, 7 December at 6pm. Secure your tickets on TicketsMarche.

HAPPENING LATER-

Connect with fellow book worms. Diwan is hosting Fiona Michele Ramsey for a launch anddiscussion of her book The Double-Edged Sword. The evening of literature will take place on Tuesday, 10 December at Diwan Zamalek starting 7pm. Arrive early to secure a good seat.

Have a laugh at our most beloved Egyptian proverbs. The Proverbs and Stories Play, directed by Tamer Elgazzar, will offer a comedic take on Egyptian proverbs, their origin, and how they’re used. Attend the play on Thursday, 12 December 7:30 pm at El Nahda Jesuit, Cairo. Tickets are available on Collard Tickets.

Tablet El Sitt band is back with some more folklore. The show will take place at Boom Room in Open Air Mall Madinaty on Wednesday, 11 December at 8pm. Tickets are available through Ticketsmarche.

Ready for a dose of nostalgia? Join Ali El Haggar in concert for Drama Songs Series at Cairo Opera House in Zamalek, where the artist recreates theme songs of the popular TV shows of the past. The performance will take place on Thursday, 12 December, at 8:00pm. You can get your tickets from Tazkarti.

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Ears to the Ground

A realistic analysis of technology

? A left-leaning critique of the tech industry. Tech Won’t Save Us ignores the hype and optimism to offer a realistic look at the promises and pitfalls of technology. It’s an engaging listen that doesn’t rely on sensationalism.

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

Host Paris Marx invites a range of experts and activists to dissect a range of topics, including things like automation, Elon Musk, and — of course — AI. His treatment of Musk is particularly interesting, with Marx noting that tech journalists often fail to critically analyze or question the way Musk feeds his mythos.

Tech with a sprinkle of social commentary: With topics ranging from labor exploitation to power to environmental impact, this podcast feels like a refreshing middle ground between a peek behind the curtains of the tech industry and insight into contemporary social issues.

WHERE TO LISTEN- You can find the podcast on Apple Podcasts, Amazon Music, Spotify, or iHeart.

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GO WITH THE FLOW

What the markets are doing on 5 December 2024

The EGX30 rose 0.2% at today’s close on turnover of EGP 3.7 bn (11.6% below the 90-day average). Regional investors were the sole net sellers. The index is up 23.9% YTD.

In the green: Ezz Steel (+4.4%), Credit Agricole (+2.5%), and Cleopatra Hospitals (+2.5%).

In the red: Eastern Company (-2.0%), Fawry (-1.4%), and Palm Hills Development (-1.0%).

This publication is proudly sponsored by

8

SOCIAL MEDIA

Which came first, the person or the algorithm?

In the early days of social media, our interests were the driving force behind the content we consumed — we actively sought out pages, groups, and individuals that aligned with our passions and hobbies. But now, the implementation of algorithms to curate our feeds has shifted the dynamic. In the labyrinthine ecosystem of digital interaction, algorithms have emerged as silent architects of personal identity, wielding far more transformative power than simple content recommendation.

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

By analyzing our browsing history, likes, and comments, the algorithm anticipates our preferences, and now, even pushes us to explore new ones — sometimes at the behest of a paying corporation that weaponsizes the technology as a marketing strategy. After years online, how can we differentiate organic preferences from ones planted in us by the algorithm?

An ongoing lawsuit between two influencers brings up important questions about our digital existence, capitalism, and the creator industry. Sydney Nicole Gifford is an Amazon influencer, promoting their products on social media, and paid in commission whenever a viewer buys the product through her affiliate link. The aesthetic Gifford promotes is what the chronically online may call the “ clean girl aesthetic.” This aesthetic is consistent across her profiles, content, and even her home. And now she’s suing Alyssa Sheil, another Amazon influencer, for copyright infringement and misappropriation of her aesthetic.

Shiel’s defence? The algorithm made me do it. There are thousands of influencers who have the same look, talk the same way, and promote the same products. Personal style choices — like the rose tattoo Gifford and Sheil both have on their arm — are lifted from popular posts on mood board sites like Pinterest. Despite the fact that people, even influencers, are pushed to tailor their lifestyle to fit the trend du jour, Gifford insists that Sheil infringed on her vibe. The kicker? Sheil has had Gifford blocked for years, and hasn’t had access to her posts.

Could these two women have arrived at the same type of content completely organically through their algorithms? Social media is driven by the pursuit of user engagement — popular content and rising trends are promoted to more people for longer, which can lead to a convergence of styles. The creation of a filter bubble of an aesthetic isn’t far from the realm of possibility.

How else is the algorithm changing us? This technology does not simply reflect our preferences anymore — it actively sculpts them, creating a recursive loop of technological mediation that fundamentally reshapes the human experience. The result is a hyperspecialized information environment that operates with surgical precision, reinforcing existing (or promoted) cognitive frameworks. This isn’t just curation — it’s a form of intellectual containment.

In July, The Guardian conducted an experiment to see what kind of content would be pushed on a newly-set-up, blank iPhone with no created algorithm. The result? A surge of sexist and misogynistic content. The fake profile had no identity input for the algorithm to work with. The only user information added to the fake profile was that it belonged to a 24-year-old male. This isn’t algorithmic randomness — it’s a sophisticated mechanism of cultural reproduction, where latent societal prejudices are not just mirrored, but strategically amplified. The algorithm becomes an active agent of ideological ecosystems, not a passive conduit.

All of this illuminates a profound technological paradox: our most advanced recommendation systems are simultaneously sophisticated and deeply primitive. This contradiction isn’t just a technical curiosity, but a window into the complex interplay between advanced machine learning and human preferences and biases. The algorithm doesn’t transcend human proclivities (whether ideological or beauty-oriented), it amplifies it with mathematical precision. This isn’t a malfunction, it’s a feature.

Welcome to the ecosystem of perceived desire. Gone are the simple days of targeted ads and paid promoted posts. Corporations are now using influencers to manufacture what seems like spontaneous, authentic interest. This isn’t advertising in the traditional sense — up until January of this year, influencers weren’t required to disclose paid partnerships with brands (and even now the enforcement of this law is intractable), and companies weaponized this to fabricate “organic” cultural moments.

Brands no longer pay for direct advertisements, they invest in intricate algorithmic strategies that amplify specific content, creating the illusion of grassroots enthusiasm. An influencer's seemingly casual product mention becomes a precisely calibrated signal, algorithmically boosted to create maximum perceived authenticity. A single strategically placed product in an influencer's content can trigger recommendation systems that transform casual exposure into a viral phenomenon. The algorithm doesn't just observe trends, it actively manufactures them, creating what sociologists might call a “ manufactured consensus.”

What makes this approach particularly insidious is its exploitation of human psychological vulnerabilities. A product isn't just being sold — it's being socially legitimized through a complex network of perceived authenticity. As these strategies become increasingly sophisticated, they challenge existing regulatory frameworks. How do we classify marketing that isn't technically an advertisement? When algorithmic influence becomes this nuanced, traditional definitions of transparency and disclosure become woefully inadequate.

This isn't merely a technological phenomenon, but a profound cultural shift. We're witnessing the commodification of authenticity itself — where attention is the currency, algorithms are the brokers, and genuine human experience becomes a marketable resource to be algorithmically parsed and strategically deployed.


5 December (Thursday): Muslim at Theatro Arkan.

5 December (Thursday): Abdel Halim Hafez tribute concert at the Grand Egyptian Museum.

5 December (Thursday): Tul8te at ZED park.

6 December (Friday): The High Five standup comedy at Theatro Arkan.

6 December (Friday): TriFactory PMH warm-up run at District 5.

6 December (Friday): The Kloud Experience at Royal Club Mohamed Ali

7 December (Saturday): AFP Future of Finance at Conrad Cairo Hotel & Casino.

7 December (Saturday): Marwan Pablo and Nayer Nagui concert at Grand Egyptian Museum.

7 December (Saturday): AFP Future of Finance at Conrad Cairo Hotel & Casino.

10 December (Tuesday): The Double-Edged Sword book launch and discussion at Diwan Zamalek.

11 December (Wednesday): Tablet El Set at Boom Room, Open Air Mall Madinaty.

12 December (Thursday): Proverbs and Stories Play at El Nahda Jesuit, Cairo.

12-14 December (Thursday-Saturday): Cairo Art Book Fair at Ghurnata, El Montaza in Heliopolis.

13 December (Friday): Aura Music Festival at Lac Du Caire.

13 December (Friday): Aziz Maraka and Silawi concert at ZED Park.

13-14 December (Friday- Saturday): Youth Summit: Unfiltered at the Grand Egyptian Museum.

14 December (Saturday): TriFactory’s The Marakez Pyramids Half Marathon at the Great Pyramids of Giza.

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

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

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

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

JANUARY

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

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