Good afternoon, all. After a couple of busy days, the news cycle has taken a breather.
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THE BIG STORY TODAY-
The EGP’s value continued to appreciate — albeit at a slower pace — against the greenback this morning for the second consecutive day, despite continued escalations in the conflict between Iran and Israel.
The EGP rose by around EGP 0.02 during trading and interbank USD trading returned to normal levels, a source in the banking sector told EnterpriseAM. The past two days witnessed transactions totaling USD 1.3 bn, in addition to higher-than-usual trading volumes compared to last week — all of which took place in order to meet demand for foreign investors’ exits from the secondary market and the EGX, the source said.
THE BIG STORY ABROAD-
Trump says no ceasefire between Iran and Israel: French President Emmanuel Macron suggested US President Donald Trump’s early exit from the G7 summit had something to do with a ceasefire between Israel and Iran, but Trump was quick to end speculation. “Wrong! He has no idea why I am now on my way to Washington, but it certainly has nothing to do with a Cease Fire. Much bigger than that. Whether purposely or not, Emmanuel always gets it wrong,” Trump wrote on his Truth social media.
As things stand: The US president is hopeful Iran and Israel can reach a peace agreement, according to US officials. This comes as the US speeds up deployment of military assets to the region, including the USS Nimitz strike group, while continuing to support Israel defensively. (Reuters | Bloomberg | BBC | Financial Times | The Guardian)
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☀️ TOMORROW’S WEATHER- The capital is in for a sunny day tomorrow, with the mercury set to peak at 36°C throughout the day before cooling down to 23°C at night. The North Coast will be experiencing cooler weather, with the temperature expected to reach just 30°C during the day and 20°C at night, according to our favorite weather app.
A Trump-branded phone? Yesterday, the Trump Organization — run by Donald Trump Jr. and Eric Trump — announced the launch of a phone plan and a smartphone that is “completely made in America.” The USD 499 T1 phone will come in gold and be engraved with the US flag, it will be available in September. You can pre-order it now through the Trump Mobile website.
A calculated move: The announcement coincided with the tenth-anniversary of Donald Trump’s announcement of his first presidential run.
What to expect from the T1? The phone will run on Android 15 and feature a 50-megapixel main camera. The Trump Organization itself, however, will not be involved in the smartphone’s design, development, manufacturing, or distribution. “T1 Mobile LLC uses the “Trump” name and trademark pursuant to the terms of a limited license agreement.”
What about the mobile service? According to the official Trump Mobile website, the nascent venture is a “next-generation wireless provider with bold ambitions and a customer-first mission.” Trump Mobile’s cellular phone service — dubbed The 47 Plan — would set Americans back USD 47.45 per month — a reference to Trump’s status as both the 45th and 47th US president. Competitors are offering similar plans for USD 25-30 per month.
The 47 Plan includes unlimited calls, texts, and data and US-based customer service call centers. “You’re not calling up call centers in Bangladesh, you’re doing it right out of St. Louis, Missouri.” Eric Trump said. Aside from US-based customer service centers, Trump Mobile will be an entirely American venture — with its own smartphone manufactured locally, and marketed towards Trump’s supporters.
A petty move? CBS reports that the T1 mobile and cell service seem to be an attempt to exert further pressure on Apple — following Trump’s demand that the iPhone maker manufacture its products in the US in favor of China and India, with threats of hefty tariffs. Were the tariffs to be implemented, iPhone prices might double to reach USD 2k and upwards — a significant markup from the USD 499 T1.
But is the US equipped with the right infrastructure to support local T1 manufacture? According to Reuters, not quite. The newswire notes that while the US smartphone market is the most saturated in the world with more than 60 mn smartphones purchased annually, almost all devices are manufactured abroad, given the lack of domestic infrastructure, high labor costs, and labyrinthine logistics. CBS notes that the T1’s manufacturing may cause a dilemma for the Trump administration, as the phone will likely require imported parts — raising the question of whether or not it will be exempt from Trump’s tariffs.
A cash cow? Earlier this week, Trump reported more than USD 600 mn in income from crypto, licensing fees, and other ventures. According to NBC News, Trump-branded merchandise — sneakers, watches, books, and bibles — generated over USD 10 mn in profit for the US President. Whether or not Trump Mobile will prove lucrative, however, is yet to be determined.
If you're in the mood for Latin comfort food with delicious flavors, Gracias Latin Kitchen is the way to go. This cozy eatery delivers on both flavor and variety, making it a great option for a night out or ordering in to satisfy your cravings.
The menu is built for sharing, and you’ll want to try a bit of everything. We recommend you start off with the famous pulled beef birria tacos. The beef is cooked to perfection and packed with flavor, with the rich, spicy birria sauce bringing it all together.
Another solid choice is the honey chipotle chicken sliders. The chicken is crispy, juicy, and coated in a sticky sweet and sour glaze, all inside soft fluffy buns.
You can’t go wrong with the classics: If you want something to snack on while you wait for the rest of your meal, go for the classic nachos, which they paired with their delicious salsa. It’s simple, crunchy, and a good way to kick things off without getting too full.
And a little something for the healthy eaters among us: Gracias offers lighter options like the quinoa salad and taco salad. You can also customize a burrito bowl to your liking. While these are solid choices, the salad selection is a little limited compared to the rest of the menu.
Make sure to grab their signature Brazilian lemonade to help you cool down in this scorching heat. The drink is creamy with a rich citrusy flavor and condensed milk that adds just the right amount of sweetness.
Eat in or order: You can find Gracias in Arkan Plaza or District 5, or place an order through their website or Talabat.
⚽ Lucky number eight. Things got heated at the Club World Cup last night with three different matches delivering a total of eight goals.
England’s Chelsea walked away with three points following its 2:0 victory over the US’ Los Angeles FC, climbing up the ranks of Group D and securing a shared spot in the lead alongside Brazil’s Flamengo — who secured a 2:0 victory over Tunisia’s Espérance.
Argentina's Boca Juniors and Portugal's Benfica’s match ended in a 2:2 draw. Both teams walked away with a single point, leaving the German Bayern Munich in the lead for Group C.
Matches we’re keeping an eye on tonight: Germany’s Borussia Dortmund goes head to head with Brazil’s Fluminense tonight at 7pm in a highly-anticipated Latin-European face-off. The second Group F match won’t be long after, with South Korea’s Ulsan HD and South Africa’s Mamelodi Sundowns battling it out at 1am.
Argentina is seeing red. In Group E, Argentina’s River Plate kicks off its first match against Japan’s Urawa Red Diamonds at 10pm. If sleep isn’t on the table for you, Italy’s Inter Milan and Mexico’s Monterrey will be facing each other at 4am.
? Ittakes two to t…ell a good joke? Well, a decent joke at least — seriously decent. Studio El Etnin’s veteran comedians Ahmed Hassan and Ahmed Magdy are on a mission to prove that you don’t need profanity to get the laugh-track rolling. Performing at CJC 610 on Tuesday, 24 June, the duo is flipping the script with a show as censored as it is chaotic. Need a laugh? A moment in the spotlight? We suggest getting a move on and grabbing your tickets for the interactive comedy show from CJC 610’s website.
HAPPENING THIS WEEK-
When life gives you lemons, you head to CJC 610 and wait for The Comedy Bunch to serve some lemonade. Tonight, 17 June, The Comedy Bunch’ s Engy Hashem, Mohamed Gamal El Din, Halawa, Ahmed El Hareedy, and Amgad El Shawshy will be taking the stage with the sole purpose of making you laugh — and given these comedians’ track records, we’d say that you’ll be laughing plenty. You can secure your spot through Ticketsmarché.
Get loud or get out. CJC 610 is bringing back Casino El Fotrikiano, its signature Mahraganat madness experience, on Wednesday, 18 June, and it’s set to be louder than ever. Turning it up with his signature sha’bi sound, Mozmar Abdelsalam will be joined by Egyptian Mahraganat singer Mahmoud Elleithy and DJ Sadam for a night celebrating the best that Egypt’s local genre has to offer. You can secure your spot through CJC 610’s website.
No tickets needed, these concerts are on the house. Viral Egyptian singer and rapper LellaFadda is throwing two pro-bono concerts this June. On Thursday June 19, Fadda will be lighting up Alexandria’s Antoniades Park before heading back to Cairo for an encore at The Greek Campus in Downtown Cairo on Saturday, 21 June. You can secure your spot through Laylo.
Miami-based Mexican artist and producer Sainte Vie is giving Cairo a taste of Floridian summers. Bringing his signature groove to CJC 610 on Thursday, 19 June, the techno dynamo will be joined by local DJs Ziad Mousa, Mohasseb, and Ashmawy. You can get your tickets from Ticketsmarché.
They might be creeps, they might be weirdos, but they’re definitely going to be entertaining the crowd. On Thursday, 19 June, Egyptian Radiohead tribute band The Bends will be taking over Garden City’s Room Art Space with an intimate unplugged session featuring Radiohead’s most beloved hits. Tickets can be purchased through EasyKash. Now, cue Exit Music (for a Film).
From Tomorrowland to New Alamein. Italy-hailing and Berlin-based artist, DJ, and composer Malandra Jr. wants you to be part of his symphony on Friday, 20 June at Cassette, New Alamein. The Ibiza resident is known for keeping his crowd on their toes with his unexpected sonic mashups that only a certified composer like him can whip up. Tickets can be purchased through Crcl’s — the event organizer — Instagram.
Need a dash of folklore in your life? Reconnect with your Egyptian roots at El Sawy Culturewheel on Friday, 20 June, as the all-Egyptian, all-women band Tablet el Sitt take the stage. On a mission to spread joy and preserve Egyptian folk music, the band will be performing from 8pm to 10:30pm. Tickets are available on El Sawy Culturewheel’s official website.
HAPPENING LATER-
Legendary Egyptian pianist Omar Khairat is back at the Cairo Opera House with two concerts on Sunday, 22 June and Monday 23, June. Tickets can be purchased through Tazkarti.
Ever dreamt of being a DJ? Kamelizer wants to make your beat-dropping dreams come true at District 5’s Townhall by Kamelizer this June. Collaborating with the DJ Academy in Cairo, Kamelizer is hosting a three-week-long DJ Bootcamp kicking off on Monday, 23 June, and taking place on Mondays and Wednesdays from 6:30 to 9:30pm. Want to master mixing? Be a transition-tron? Know how to work a crowd? The bootcamp will teach you how to do all that and more — and the best part? You’ll get to show off your skills at two live events following the bootcamp. To register for the bootcamp and find out more details, head to Kamelizer Spaces’ Instagram and click the link in their bio.
World-famous ventriloquist Jeff Dunham is bringing his puppets to Egypt this June. Performing live in Cairo for the very first time, the American comedian, actor, and host of the Jeff Dunham show will be playing puppet-master as he orchestrates a comedic showcase under the theme of Artificial Intelligence, stringing along his comical cast of characters at the Drama Hall in the New Capital’s Arts and Culture city on Thursday, 26 June. You can grab your tickets from Ticketsmarché — and don’t worry, you won’t have to pull any strings to get in.
The ‘90s are calling, and on Friday, 27 June, we’re picking up. Egyptian band Cassette ‘90s will be performing live at Zamalek’s El-Sawy Culturewheel, and you best believe they’ll be doubling down on nostalgia. This motley crew of ‘90s aficionados knows how to keep an audience on their feet, so if a trip a few decades back sounds like a fun time, secure your spot through El-Sawy Culturewheel’s website.
Lose yourself in the last of Beethoven’s symphonies at the Cairo Opera House. On Saturday, 28 June, Beethoven’s Symphony No. 9 will reverberate throughout the Main Hall as Maestro Ahmed El Saedi guides his orchestra through the most influential of symphonic works. Tickets can be purchased through Tazkarti.
The Cairokee Empire rises once more, this time at the Cairo International Stadium. On Saturday, 28 June, the band promises over a decade’s worth of iconic music at the largest venue in Africa. You can grab your tickets through Tazkarti.
Freshen up your linen shirts and pack up your shades, because Egyptian megastar Amr Diab will be kicking off Sahel season at Sol Beach Marassi on Friday, 4 July. Joining the Hadaba will be German electronic dance music producer and singer Monolink, and Copenhagen-based experimental pop trio WhoMadeWho. You can grab your tickets from Ticketsmarché. Just don’t forget your sunblock.
Did that trip to Ibiza not make it out of the group chat? Well, you’re in luck. ParadiseIbiza — one of the Mediterranean island’s most celebrated party series — is marching to the beat of its own EDM drum all the way to the North Coast’s Solare in Ras El Hekma on Friday, 11 July. The line up includes Welsh DJ Jamie Jones (the brains behind Paradise), US DJ Seth Troxler, UK’s East End Dubs, Danish-Filipino Manda Moor, and Egypt’s own Awadly. Tickets are yet to be announced, however we’d suggest keeping an eye out on Paradise Ibiza’s website.
This summer, New Alamein city will be playing host to two landmark art events. Announced by the Egyptian Prime Ministry, the second edition of contemporary exhibitionArt Space will kick off on Saturday, 19 July and wrap up Tuesday, 30 September, as Sahel season comes to a close. Throughout its duration, the exhibition will feature a slew of visual art installations, interactive workshops, and multidisciplinary exhibitions, including the Egypt Sculpture Symposium, which takes place from Wednesday, 6 August till Saturday, 30 August, hosting 30 of the world’s most renowned sculptors.
The Martinez Brothers will be giving the North Coast’s Sol Beach a taste of what New York City’s nightlife scene has to offer on Friday, 1 August. The DJ duo — and brothers from the same mother — will be joined by Lebanese DJ and producer Rolbac, so you know things will be heating up quite fast. You can grab your tickets from Ticketsmarché.
Get caffeinated and grab your polaroid camera, because on Friday 8 August, &ME — one fifth of Keinemusik — will be bringing the beats all through the night until sunrise at North Coast’s Sol Beach. Promising to have you dancing till the sun’s up, the German EDM DJ and producer will be going solo this time around. Tickets can be purchased through Ticketsmarché.
In the mood to party by the Pyramids? On Friday, 19 December, world-famous Dutch DJ and Producer Tiësto is coming back to Egypt for a solo show at the Giza Plateau. Once voted “The Greatest DJ of All Time,” Tiësto will surely make this upcoming show one to remember. Tickets are available on Ticket Egypt.
The EGX30 fell 1.0% at today’s close on turnover of EGP 3.4 bn (29.7% above the 90-day average). Local investors were the sole net sellers. The index is up 3.3% YTD.
In the green: Emaar Misr (+1.6%) and CIB (+0.9%).
In the red: EFG Holding (-4.7%), Abu Dhabi Islamic Bank (-4.5%), and Orascom Development (-3.5%).
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