Good afternoon, wonderful people. We hope the first workday of the week has treated you better than Israel’s war in Gaza is treating the tourism industry.
Egyptian travel giant Travco has seen cancellations for reservations through the end of the year hit the 50% mark as holidaymakers look to other corners of the world on concerns above Israel’s war on Gaza, Asharq Business reports.
Who’s canceling? Holidaymakers from Germany, England, Belgium, and Sweden are the primary sources of cancellations, the business news outlet quotes Travco boss Hamed El Chiaty as saying.
Watch this space: Cancellations could spill over to next year, as bookings for the new year have slowed down significantly since the outbreak of hostilities, El Chiaty reportedly added.
THE BIG STORY ABROAD remains the war in Israel, where western media report that Israel is stepping up the “urgency” with which it is warning residents to flee to the south (nearer the border with Israel) as IDF troops “expand” operations on the ground in Gaza for a second day. Israeli PM Benjamin Netanyahu may not be calling it a full-on ground invasion just yet (he’s too busy throwing Shin Bet under the bus for its failure to prevent Hamas’ 7 October attack), but it’s certainly starting to feel like one.
Need more? Check out the live blog at the New York Times if you don’t want to wait for tomorrow’s EnterpriseAM.
** CATCH UP QUICK on the top stories from today’s EnterpriseAM:
President Abel Fattah El Sisi warned against the potential widening of the conflict after two drones crashed in Taba and Nuweiba on Friday morning, causing explosions and injuring six people.
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?️ TOMORROW’S WEATHER- Looks like the temperature will be rising to a high of 32°C in the daytime and dropping to 23°C in the evening, according to our favorite weather app.
Apple is broadcasting an online-only launch event tomorrow night. Pundits see the tech giant delivering spec bumps to existing products at a “Scary Fast” event set for tomorrow evening, the Verge reports. Breaking with its usual pattern, Apple is going head-to-head with Monday Night Football, with the event set to air at 8pm Eastern time / 5pm Pacific (and 2am the next day here in Omm El Donia).
What should we expect? Updated M3 processors in existing Mac product lines, the Verge tells us, even though the M2 chips are still reasonably fresh out of the foundry, having launched just under 1.5 years ago and only completing their rollout earlier this year. Expect the 14- and 16-inch MacBook Pros to get processor updates.
Mythical beast #1- Chatter on social media has some expecting Apple to bring back the 12-inch MacBook (no Pro, no other descriptor — you remember it? The one with one port and no keyboard travel.
Mythical beast #2- While an updated 24-inch iMac is almost a certainty, there’s no word on whether the much-awaited 27” (or even 32-inch iMac) iMac will debut. (Odds seem good, tech nerds feel, that Apple’s answer to that wish is, “Buy a Mac Studio and an external display.”)
Christmas sales? The event — seen unlikely just a week ago — likely has a lot to do with Apple stuffing channels ahead of holiday sales in Western markets, but the Verg argues that Apple may be looking to make their lineup more competitive after Snapdragon released its X Elite processors, which it claims are 50% faster than Apple’s M2. Look for the M3 to deliver a 15% speed boost and decrease power consumption by up to 30%.
Matthew Perry, one of the six stars of the beloved sitcom Friends, has died at the age of 54. The actor is believed to have diedas a result of an accidental drowning in his Los Angeles home, according to the Los Angeles Times. Police have yet to say anything about the cause of death, but added there are no signs of foul play, according to the New York Times.
Goodbye, Chanandler Bong: Perry’s career spanned more than 40 years, but he rose to fame for his portrayal of Chandler Bing on Friends, which followed a group of 30-something professionals navigating life, work, and love in Manhattan. Chandler, known for his quick wit and infectious sarcasm, became one of the series’ most beloved characters. Since its pilot in 1994, Friends has been a staple ‘feel-good’ series — a rare Gen-X hit that has since pulled Millenials and, more recently, Gen Z to their screens.
Watch tonight: In Egypt, you can still catch Perry and the rest of the cast of Friends on Netflix and Amazon.
AFTERNOON MUST-READ-
One in four humans will live in Africa by 2050, making ours the fastest-growing (and fastest-urbanizing) continent, with the population set to double to 2.5 bn by 2050, according to this New York Times article. At 19, Africa’s median age will be half that of western markets, giving it a workforce larger than those of both India and China (which will both see workforces shrinking by 2050). Twenty years down the road, developing nations will be grappling with an aging population and few people to care for the elderly — all while we look for ways to turn population growth into a net positive.
Africa’s influence permeates music, politics, business and religion. Today, AfroBeats music is blaring in the most prestigious western arenas to a completely international audience. On the diplomatic front, African politicians are being pursued by suitors who want access to our continent’s resources. At stake is nothing less than the green economy — the world’s booming EV and solar businesses. And every year, mns of African consumers are going online for the first time, accessing markets such as FMCGs, bank services, and telecoms, making Africa appear as a continent bursting at the seams with potential…
…but rapid growth might be more overwhelming than beneficial. While some countries are well-positioned to benefit from this demographic wave, others are at risk. Take Nigeria: Already facing high poverty rates, violence, and low life expectancy, it continues to add five mn people annually to its population. Nigerian youth are becoming more educated and connected, but they can’t find work — factors that pundits say express themselves in rising violence, extremism, and illegal migration.
The climate crisis poses its own challenges: Africa has been hit by floods, droughts, and storms. Still, the former executive secretary of the United Nations Economic Commission for Africa tells the New York Times that despite the complexities of predicting population trends, Africa’s current demographic projections are the “mother of all megatrends.”
Bns, the show that captivated lay viewers, hedgies, PE bros, and investment bankers alike, wrapped up yesterday with its series finale.
The series, which premiered in 2016, pits hedge fund manager Bobby Axelrod (Damian Lewis) and his Axe Capital against the US District Attorney for the Southern District of New York, Chuck Rhoades (Paul Gamiatti).
As the seasons unfold, we see the two opposites collaborate and exchange punches, and, finally, over the weekend, come together in a bid to take down a common antagonist, Mike Prince (Corey Stoll). Appearing in season 6, Prince takes over Axe Capital and everything that both Axelrod and Rhoades hold dear. He changes the face and moral compass of the firm and adds more controversy with a bid for the US presidency — a worrying prospect, particularly with his stance on nuclear weapons.
Expect to see all of the OG characters in the finale, including Wags (David Constabile), Taylor Mason (Asia Kate Dillon), and Wendy Rhoades (Maggie Siff), who join forces in an Avengers-like blow to stage their attack on Prince in an episode that should give fans of the shows a hit to the feels.
⚽Al Ahly in the African League: South Africa’s Mamelodi Sundowns kicked-off with Al Ahly at 3pm CLT today in the first leg of the African Football League semifinal. Heading into dispatch time, the score stands at 0-0. Morocco’s Wydad will meet Tunisia’s Esperance in the same round today at 8pm.
One match in the Egyptian Premier League brings together Talaea El Gaish and Ceramica Cleopatra at 7pm in the fifth round.
Manchester Derby: The summit week 10 game play in the Premier League sees Man United and Man City kicking off at 5:30pm at Old Trafford.
Also in the Premier League today:
West Ham vs Everton (3pm)
Liverpool vs Nottingham Forest (4pm)
Aston Villa vs Luton Town (4pm)
Brighton vs Fulham (4pm)
Other top matches in European play today:
Frankfurt v Dortmund (Bundesliga, 4:30 pm)
Inter v Roma (Serie A, 7pm)
Napoli v Milan (Serie A, 9:45pm)
Marseille v Lyon (Ligue 1, 9:45 pm)
Atletico Madrid v Deportivo Alaves (La Liga, 10 pm)
Related
? OUT AND ABOUT- (all times CLT)
The exhibition Forever Is Now is back again at the Pyramids, open 9am until 4pm daily through 18 November. Book your ticket here or buy one on arrival.
Music enthusiasts, this one’s for you: The annual Cairo International Jazz Festival is still going at AUC’s Tahrir campus and will continue until Friday, 3 November. More here.
Sayed Ragab x Lina Chamamyan x “El hekaya b aswatna”. TV presenter Mahmoud Saad will host actor Sayed Ragab and singer Lina Chamamyan live on stage at Theatro Arkan, Sheikh Zayed, on Thursday, 2 November at 8:30pm. You can book with Tazkarti.
TV personality Mahmoud Saad will host comedian Ahmed Helmy on Saturday, 4 November, followed by a concert featuring Wust El Balad, also at Theatro Arkan. Click here to reserve your tickets.
The Downtown Contemporary Arts Festival (D-Caf) has kicked off and will continue until Sunday, 5 November. The festival is taking place in several places and art centers in the downtown area. You can check the events and buy the tickets through D-CAF’s website.
Russia’s 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.
Related
? UNDER THE LAMPLIGHT-
What’s the story behind New York City’s giant skyscrapers running from Park Avenue to Broadway? This exclusive residential strip known as the B’naires’ Row is home to some of the world’s most expensive apartments, with pricetags sometimes exceeding USD 100 mn. Are they luxury homes or repositories of wealth for the super-rich? Yes.
The WSJ’s Katherine Clarke goes deep into the behind-the-scenes drama and power struggles that have shaped this unparalleled symbol of extreme wealth inequality. Look for the inside track on the towering “supertalls” that grace the 57th street, highlighting the clash known as the “race to the sky” between the experienced professionals in the Trump era and the ambitious newcomers in the industry.
Clarke's meticulous research and access to key players make this book a compelling read for those fascinated by the world of real estate and the staggering disparities in global wealth.
The EGX30 fell 0.8% at today’s close on turnover of EGP 4.8 bn (106.9% above the 90-day average). Local investors were net buyers. The index is up 58.1% YTD.
In the green: Beltone Holding (+15.8%), GB Corp (+7.7%) and Heliopolis Housing (+6.%).
In the red: Abu Qir Fertilizers (-6.5%), TMG Holding (-5.5%) and Mopco (-5.0%).