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Luxury fashion thieves

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WHAT WE’RE TRACKING TONIGHT

Shares in New Administrative Capital offered for early 2024

Good afternoon, ladies and gentlemen. We’re writing to you shortly after wrapping up a phenomenal first day of the Enterprise Finance Forum, during which we were thrilled to meet so many of you face-to-face and have interesting conversations on stage about an industry that is near and dear to us. We very much look forward to continuing these insightful discussions tomorrow.

THE BIG STORY TODAY

Shares in the Ad ministrative Capital for Urban Development Company may soon be up for grabs: The owner and developer of the New Administrative Capital is planning to sell 5-10% of its shares on the bourse in the first half of 2024, Asharq Business reports, citing the chairman of the company Khaled Abbas. The company is said to possess liquid assets of EGP 100 bn and up to EGP 4 tn in assets under management.


The Enterprise Finance Forum continues tomorrow at the St. Regis Hotel on the Nile Corniche. This flagship forum is the latest in our must-attend series of invitation-only events, where CEOs, bankers, investors, founders, and corporate leaders will meet to discuss the trends shaping the future of banking, finance, NBFIs, and fintech — and of their clients.

This invitation-only event begins at 8:00am with a standing networking breakfast and will end at 1:20pm.

** Please bring your personal QR code with you again tomorrow to ensure access to the venue.

** There will be plenty of parking available at the venue for all those attending.

Tap or click here to view the FULL AGENDA with SPEAKERS.

** We are honored to count some of the region’s most important financial institutions as

our partners for this special event. The Enterprise Finance Forum could not take place without the support of our partners including Banque Misr, Al Baraka Bank, FABMISR, HSBC, Mashreq, Banque du Caire, CI Capital, Global Corp, Visa, Hassan Allam Utilities, the IFC, and Post for Investment.

THE BIG STORY ABROAD

The US-Iran prisoner swap is leading the conversation in the International press, as five US citizens and their relatives will be transferred out of Tehran via a Qatari plane. This swap comes through a Doha-brokered agreement that intends to see up to USD 6 bn in frozen Iranian assets in South Korea released. The assets have been released on the condition of being used for humanitarian purposes only. Of the released Iranian detainees from the US, two will return to Tehran, two will remain in the US based on their request, and another will join their family in another nation. (Reuters | Bloomberg | Associated Press)

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

Happening today- President Abdel Fattah El Sisi is heading to the UAE to meet with his counterpart Sheikh Mohamed bin Zayed Al Nahyan, ruler of the UAE, to discuss regional concerns, and to strengthen the relations and cooperation between the two nations, according to an Ittihadiya statement.

☀️ TOMORROW’S WEATHER- The temperatures will peak at a moderate 35°C in the daytime and drop to a cooler 22°C in the evening, according to our favorite weather app.

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FOR YOUR COMMUTE

Thieves run off with 50 Balmain pieces in central Paris + Egypt inaugurates re-opening of the oldest Ottoman mosque after restoration

50 pieces of Qatar-owned, high-end Balmain brand were stolen days before Paris Fashion Week, Bloomberg reported. As the company driver was transporting the products from the airport to the company headquarters in central Paris, he was hijacked by the burglars who then proceeded to steal a large portion of the upcoming collection, the brand’s creative director, Olivier Rousteing, stated in an Instagram post. The driver has not been harmed.

The authorities are yet to apprehend anyone linked with the incident. Nevertheless, the Balmain team will be working double time to recreate the missing pieces as the show is slated to take place on Wednesday, 27 September, Rousteing added. Balmain, alongside Valentino, is owned by Mayhoola: A luxury brand owned by Qatari luxury goods investment vehicle Mayhoola for Investments, which is run by Rachid Mohamed Rachid, the former Egyptian trade and industry minister.


The oldest Ottoman mosque in Egypt reopens its doors after an extensive restoration process. Egypt celebrated the inauguration of “Sariyat al-Gabal Mosque, also known as the Mosque of Suleyman Pasha al-Khadim”, which exists inside Salah al-Din Citadel, Old Cairo, Reuters reported. The restoration project started back in 2018 and it spanned five years, and the total budget of the reforms was EGP 5 mn, indicated Mostafa Waziri, Head of the Supreme Council of Antiquities. The reforms included removing calcifications, dirt, dust, and improving the state of the carvings. Additionally, they fortified and insulated the plastered wood, alongside completing some maintenance to the marble, Waziri added.

The mosque holds significant cultural and architectural importance in the region. The mosque was built by the 16th-century governor Suleyman Pasha al-Khadim, it stands as Cairo’s earliest Ottoman mosque and it was constructed in 1528 A.D. The mosque boasts 23 green-tiled domes and an intricately designed mimbar (a high pulpit where the imam delivers his speech) adorned with Iznik tiles. It has an iconic pencil-shaped minaret which is the remarkable feature that distinguishes the Ottoman mosques, Waziri highlighted. The mosque complex spans over 2,360 square meters and occupies the site of the Fatimid-era tomb of Sayed Sariya, dating back to 1140 AD.

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ENTERPRISE RECOMMENDS

This documentary undermines the preconceived notions of the diamonds industry

? ON THE TUBE TONIGHT-
(all times CLT)

Nothing Lasts Forever is a riveting dive into the diamond industry’s dark secrets. It’s an eye-opening and investigative documentary that revolutionizes the notion of diamonds being a rare, precious, and sparkling gemstone. It takes an incisive look at the diamond industry and profoundly challenges long-held beliefs about a diamond’s value and scarcity. Jason Kohn reveals the clandestine world of this extremely confidential industry, unraveling a web of crime that has far-reaching consequences. He explores how the De Beers family, which is behind the world’s biggest diamond company, engineered the idea that diamonds are exceedingly rare to boost prices. However, the rapid rise of synthetic lab-grown diamonds — which are far cheaper and are indistinguishable from real precious stones to an untrained eye — threatens to upend the market. The film interviews a diverse cast of insightful sources including a gemologist, diamond merchants, scientists, jewelry designer, auctioneers and De Beers excess.

The return of the Egyptian Premier League: The opening match of the Egyptian League season 2023/24 will be between Tala’ea El Gaish and the National Bank sounds-off at 7pm.

There is calm on the European shores before the first round of the Champions League tomorrow, including the final match of the fifth round of the English Premier League between Nottingham Forest and Burnley at 9:45pm.

? EAT THIS TONIGHT-

Tacos, guacamole, nachos… Is there any Mexican dish we are not completely in love with? If you enjoy a good Mexican, head over to one of Tostado Mexican Grill branches — in New Cairo, Nasr City, and soon Sheikh Zayed — and have yourself a fiesta. The place’s interior features a fun, themed décor with a menu that includes burritos, quesadillas, and a number of bowls like chicken, shredded beef, and shrimp. While we liked the carne asada tacos — you can make your choice of soft or hard shell — we have to recommend the burrito, as you can “make your own” from the items on offer. Start off by choosing between a green or white tortilla, before deciding what kind of protein you prefer — options include chicken, shrimp, and carne asada among others. And then it’s all fun and games from there: Pick your salsa, toppings, and voilà, mission accomplished. Keep in mind that Tostado only delivers to New Cairo, however, it will be worth the trip as they do give customers a 50% discount off the entire menu on Thursdays and Fridays.

? OUT AND ABOUT-
(all times CLT)

Watch the Skating Theatre Show tomorrow at Cairo Stadium starting at 6pm. Get your tickets from Ticketsmarche.

Catch comedian Ali Quandil’s standup comedy show at Teatro in Arkan Plazaon Thursday, 21 September from 8:30 pm. Get your tickets from Ticketsmarche.

Masar Egbari will perform at City Garage Live in City Centre Almaza on Friday 22 September. Tickets are available on Tazkarti.

Tamino is coming back to Egypt to perform on Friday-Saturday, 22-23 September at 8pm at AUC’s Tahrir campus.

Samar Tarek, Muslim and Molotof are all set to perform on Friday, 29 September at the Greek Campus. Tickets are available on Ticketsmall here.

Medhat Saleh will be performing at the Cairo Opera House on Friday, 29 September at 8:30 pm. Get your tickets on Ticketsmall.

Get your running shoes ready for the 2023 edition of the El Gouna Half Marathon, which is scheduled to take place on Saturday, 11 November. You can sign up for the marathon from here — and catch the lowest registration price with the early bird special which starts today and ends Saturday, 30 September.

Omar Khairat is set to perform at Cairo Opera House on Tuesday-Wednesday, 3-4 October from 8:30-11:30 pm.

Italian opera Teatro Di San Carlo is coming to Egypt for the first time with a showat the Pyramids of Giza on Wednesday, 11 October. You can book your tickets from Ticketsmarche here.

Egyptian singers Ruby and Ahmed Saad are performing together at Misr University on Wednesday, 18 October at 8pm. Get your tickets at Ticketsmarche.

DJs Kygo , Tiësto, Kungs and Frank Walker are performing on Saturday, 28 October at the Giza Pyramids. The concert will be part of the next edition of the four-day Palm Tree Music Festival (PTMF) which will be held from Thursday, 26 October until Sunday, 29 October.

Jim Gaffigan’s Barely Alive Tour will hit the Marquee stage at Cairo Festival City on Thursday, 16 November. Get your tickets with Ticketsmarche.

Canadian pop star Charlotte Cardin will be performing at CJC 610 on Saturday, 20 January at 9 pm. Get your tickets here.

? UNDER THE LAMPLIGHT-

Tom Lake by Ann Patchett is a beautifully crafted novel that explores the profound impact of choices, relationships, and personal growth. The narrative will transport you back and forth across time between the pandemic and the 1980s. The book centers around three adult sisters Emily, Maisie, and Nell, who are spending time at their family’s cherry orchard in northern Michigan during the early days of the covid-19 pandemic. Their mother, Lara Nelson, recalls her past short-term acting career, including a memorable role as Emily Gibbs in Thornton Wilder’s beloved play, Our Town, and also revealing her past romance with a famous actor, Peter Duke. The daughters were fascinated with the enigmatic Duke and wanted to know the details of their mother’s relationship with him. As her daughters get lost in their mother’s story, they find themselves confronting a new perspective on the world and challenging their preconceived notions. Patchett skillfully weaves multiple themes throughout the novel, including fame, ambition, talent, lost love, and the dichotomy between destiny and choice. She highlighted the impact of secrets and the consequences of revealing them, painting a vivid picture of the character's inner struggles and vulnerabilities.

This publication is proudly sponsored by

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GO WITH THE FLOW

What the markets are doing on 18 September, 2023

The EGX30 rose 0.4 % at today’s close on turnover of EGP 2.5 bn (17.8% above the 90-day average). Foreign investors were net buyers. The index is up 35.3% YTD.

In the green: Mopco (+6.1%), Orascom Development Egypt (+2.5%) and Alexandria Containers and Cargo Handling (+2.3%).

In the red: Qalaa Holding (-2.1%), Talaat Moustafa Group (-1.8%) and Sidi Kerir Petrochemicals (-1.5%).


SEPTEMBER

19 September (Tuesday): The Skating Theatre Show at Cairo Stadium.

21 September (Thursday): Standup Comedian Ali Quandil show at Theatro, Arkan Plaza, Sheikh Zayed.

21-23 September (Thursday-Saturday): L’Etape Egypt by Tour de France, Sharm El Sheikh.

22 September (Friday): Masar Egbari concert at City Garage Live in City Centre Almaza.

22-23 September (Friday-Saturday): Tamino Sahar Tour concert in AUC Tahrir Cultural Center.

26 September (Tuesday): Prophet Muhammad’s birthday (TBC).

28 September (Thursday): National holiday in observance of Prophet Muhammad’s birthday (TBC).

29 September (Friday): Samar Tarek, Muslim and Molotof LitOne concert, Greek Campus, Tahrir, Cairo.

29 September (Friday):Medhat Saleh will be performing at the Cairo Opera House

OCTOBER

3-4 October (Tuesday-Wednesday): Omar Khairat is set to perform at Cairo Opera House

6 October (Friday): Armed Forces Day.

11 October (Wednesday): Teatro Di San Carlo performance, the Pyramids of Giza, Giza.

13-20 October (Friday-Friday): El Gouna Film Festival (GFF).

18 October (Wednesday):Ruby and Ahmed Saad at Misr University

28 October (Saturday): DJs Kygo, Tiësto, Kung and Frank Walker concert, Giza Pyramids.

NOVEMBER

11 November (Saturday): El Gouna Half Marathon 2023, El Gouna.

15-24 November (Wednesday-Friday): Cairo International Film Festival (CIFF).

16 November (Thursday): Jim Gaffigan’s Barely Alive Tour at The Marquee, Cairo Festival City.

JANUARY

20 January (Saturday): Charlotte Cardin performing at Cairo Jazz Club 610

EVENTS WITH NO SET DATE

2023: The inauguration of the Grand Egyptian Museum.

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