Good afternoon, friends, and happy hump day. We have news of regional developments, supply chain trends fuelled by popular beverages, and internet outages, so let’s dive in.
THE BIG STORY TODAY-
📍Hassan Allam Holding and Tilal Real Estate will develop a SAR 3.3 bnintegrated project in Riyadh under a strategic partnership inked with the National Housing Company (NHC), according to a joint statement (pdf). The 228k sqm project — whose investments are set to total USD 880 mn at today’s exchange rate — will be executed by Hassan Allam’s development arm Grova Developments, with Tilal Real Estate serving as the main local partner.
The project aligns with Saudi Arabia’s Vision 2030 housing program, an effort by the NHC to increase home ownership, by “[combining] regional expertise and national leadership to deliver a new model for modern urban living,” according to the statement.
What they said: “This milestone reflects our confidence in Saudi Arabia's dynamic real estate sector and our commitment to long-term investment in the Kingdom. For decades, we have delivered landmark projects that connect people, infrastructure, and opportunity. Through this partnership with NHC, we are bringing that legacy to Riyadh, building communities that combine sustainable design with lasting value for residents,” Hassan Allam Holding CEO Hassan Allam said.
THE BIG STORY ABROAD-
🌐 It’s a relatively calm afternoon in the global press, with this morning’s top stories still making the rounds. US President Donald Trump’s 20-point ceasefire plan for Gaza was endorsed by the UN Security Council. The proposal — which includes the deployment of an international stabilization force — was passed by a vote of 13-0, with Russia and China abstaining.
The resolution also included the establishment of a “Board of Peace” chaired by Trump, alongside “the most powerful and respected leaders throughout the world,” the US president said. The board would govern Gaza during the transitional period, and oversee its reconstruction. The vote was met with open arms from Israeli Prime Minister Benjamin Netanyahu, but was rejected by Hamas as it “imposes a mechanism to achieve the occupation’s objectives.” (Guardian | CNN | BBC | Axios | Washington Post | Associated Press)
MEANWHILE- If you’re having some internet troubles, you’re not alone. Several prominent websites — including X, Spotify, and ChatGPT — are experiencing a global outage due to an “internal service degradation” at internet infrastructure giant Cloudflare. The issue was still being investigated at the time of publication, with some services restored. (New York Times | Telegraph | CNBC | Independent)
ALSO- Saudi Crown Prince and de facto ruler Mohammed bin Salman is set to meet with Trump at the White House later today for a number of security- and business-related discussions. (Reuters | CNBC)
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☀️ TOMORROW’S WEATHER- We’re in for another warm day in the capital tomorrow, with temperatures peaking at 27°C before cooling down to 18°C, according to our favorite weather app.
🍵 The jade-green drink that has colonized Cairo’s coffee shops tells a story much larger than a simple beverage trend. Matcha’s meteoric rise from ceremonial Japanese tea to global phenomenon — retail sales in the US alone jumped 86% in three years — represents a new and potentially destabilizing pattern in how we consume food in the age of viral content.
Browsing any upscale coffeeshop in Cairo today, you’ll find matcha lattes competing with (if not outnumbering) more conventional drinks. Caesar’s Matcha food court in Sahel stands as a monument to the drink’s unlikely conquest of Egyptian taste buds. During Ramadan 2024, matcha-flavored mehalabeya, date, and sobia drinks and desserts appeared on menus across Cairo. A drink that most Egyptians had never heard of five years ago has become ubiquitous, served everywhere from longstanding Zamalek cafés to coastal resorts.
But Egypt is just one node in a global network straining under unprecedented demand, and matcha is just the latest victim of how social media affects trend cycles that can create whiplash on supply chains and agricultural systems that still operate on multi-year timelines. Every coffee shop in Cairo mixing matcha into their menu is a symptom of the global trend, with the market ballooning to USD 4.3 bn last year, projected to nearly double by 2030.
The acceleration problem: Traditional food trends used to percolate slowly — a chef would discover an ingredient, haute cuisine would adopt it, food magazines would write about it, and gradually, over years, sometimes decades, it would filter into mainstream consciousness. The glacial pace gave agricultural systems time to respond, for supply chains to adapt, and for regulations to catch up.
But social media has obliterated this timeline. A single viral TikTok video can create a food trend that is instantly adopted by mns overnight. Within a week, a small family-run Algerian food company might find their hazelnut spread facing global demand. At the height of its popularity, El Mordjene — originally priced at DZD 780, or EGP 283 — was selling for EGP 900+. “I’ve been selling this product for two years, and before the summer [of 2024]. I was selling an average of about fifty,” said one French shop owner. “Since the buzz on TikTok, I’ve sold 5k in three months, with two stock shortages.” Cebon, the manufacturer, isn’t thrilled with the pressure, noting that they preferred to remain “discreet.”
The problem? Matcha plants take three to five years to mature. The precise conditions required — subtropical climate, careful shade cultivation, hand-picking only the two youngest leaves at the beginning of the season, then steaming, de-stemming, deveining, drying, and grinding between granite stones — cannot be rushed or easily scaled. Climate change is already shrinking the viable growing regions, and Japanese farmers, who have cultivated these plants for centuries, are aging out with no successors willing to take on the demanding work. From 2024 to 2025, the average price in Kyoto for first-flush tencha, the whole leaves used to make matcha, nearly tripled.
The new reality is this: A massive agri-industrial mechanism halfway around the world shudders to life to satisfy a population that barely knows it exists and, more often than not, moves onto a new trend within a year or two.
Matcha is far from the first food to experience this violent acceleration. In fact, it’s following a well-worn pattern that has left chaos in its wake across multiple continents. Quinoa serves as the cautionary tale — from 2010 to 2014, this Andean grain exploded first in Western markets as a protein-rich superfood. Prices in Peru and Bolivia — where quinoa is a dietary staple — tripled. Suddenly, the families who cultivated and consumed quinoa could no longer afford it. Food security became a genuine crisis in quinoa-growing regions, while Western countries sprinkled it into their Buddha bowls, unaware and uncaring of the disruption their appetites caused.
But while quinoa took years to reach peak trend status, matcha, propelled by TikTok virality and Instagram aesthetics, achieved global ubiquity in what feels like months. Farmers are desperate to meet and capitalize on exploding demand, planting in less-than-ideal regions that yield lower-quality products. China and South Korea are frantically cultivating tencha to catch the wave, but the resulting product lacks the quality of traditional Japanese matcha. The market is flooded with inferior goods while the genuine article becomes scarcer and more expensive. Joseph Sorensen, chair of UC Davis’ Department of East Asian Languages and Cultures, estimates that 90% of the matcha powder on store shelves isn’t technically matcha at all, just ground up green tea.
But the real issue isn’t whether the matcha latte at your favorite Cairo café contains authentic ceremonial-grade matcha, it’s that social media has created a do-or-die system where global supply chains must respond instantly to a consumer base trained to expect immediate gratification.
The pattern repeats: There is viral demand for a product, a race to the bottom in quality as suppliers cut corners to meet insatiable demand, and then, inevitably, the trend dies. The TikTok aesthetic moves on. The must-have product becomes yesterday’s news. But the trees remain. The matcha plants that took five years to mature will still be standing when the world has moved on, and farmers who converted their land, who took on debt, who abandoned traditional crops will be left with fields of unwanted tea plants and a collapsed market.
🍽️ A single-branch restaurant is often a sign of a well-oiled machine, and Gavi is proof of that. The stand-alone gem at Madinaty’s Open Air Mall commands attention with its multi-colored tower of light, as eye-catching as its diverse menu, with its signature international flair. An instant classic from the first bite, Gavi offers an exciting dining experience and homey dishes that will tantalize your taste buds.
An atmosphere that elevates the dining experience. Gavi’s interior strikes a unique balance between warm and exotic, thanks to modern cane-back chairs and a subtle tropical vibe created by trees and plants tucked into every corner. The outdoor seating area is a major draw, always buzzing with energy and offering a lively view of the Open Air Mall’s center. The staff was particularly friendly and attentive, doing full justice to Gavi’s reputation for excellent service. Whether you’re craving brunch, dinner, or just dessert, Gavi guarantees a memorable experience — well worth the trip to Madinaty.
Exceptional bites worth savoring: Gavi is the kind of restaurant that leaves you completely satisfied without feeling overstuffed, and their starter menu sets the tone perfectly. Despite the many tempting options — fried wings, tacos, and sliders — we decided on something a bit more refined (and unique): the eggplant schnitzel. Fried to a golden crisp and topped with cool, refreshing buffalo mozzarella for a delightful hot-and-cold contrast, this appetizer was a standout in the meal and an instant crowd-pleaser.
The main dishes presented a delicious dilemma — each option more appealing than the last. Gavi’s menu overflows with variety, and even the most classic dishes call out with temptation. After scanning the menu repeatedly, overwhelmed by the extensive selection of pastas, pizzas, and protein dishes, we finally settled on the swiss butter chicken and the truffle gnocchi. The buttery chicken breasts were nothing short of mouth-watering — seasoned to perfection, tender as can be, and accompanied by crispy french fries and sliced white baguette. The truffle gnocchi was perfectly rich and creamy, a must-try for truffle enthusiasts like ourselves.
WHERE TO FIND- If you can’t make the trip that far into East Cairo, you can order from Gavi through Talabat.
⚽ The 2026 European World Cup qualifiers are coming to a close tonight, setting in stone which 12 teams will qualify, and which will head on over to the playoffs.
Group B:
Kosovo vs. Switzerland (9:45pm);
Sweden vs. Slovenia (9:45pm).
Where the group stands: Switzerland has all but secured its qualification, leading the group with 13 points, three points ahead of runner-up Kosovo. With a massive goal difference (+12 vs. +1), we won’t be expecting an upset. In any case, Kosovo has already secured its spot in the European playoffs regardless of the match result.
Group C:
Belarus vs. Greece (9:45pm);
Scotland vs. Denmark (9:45pm).
Where the group stands:It’s a fight to the finish line between Denmark and Scotland, with Denmark in the lead by just one point. The victor of this face-off will qualify directly for the World Cup, with the loser heading to the playoffs — a draw would favor Denmark.
Group E:
Bulgaria vs. Georgia (9:45pm);
Spain vs. Turkey (9:45pm).
Where the group stands:On paper, Spain has assured its qualification, being in the lead with a three-point advantage over Turkey, who would need to defeat Spain by a margin of seven goals to qualify. A draw, a loss, or a victory by fewer than seven goals means Turkey will be heading to the playoffs.
Group H:
Austria vs. Bosnia and Herzegovina (9:45pm);
Romania vs. San Marino (9:45pm).
Where the group stands: The victor of the first match will walk away with a qualification ticket. A draw would favor Austria, which leads the group by two points.
Group J:
Belgium vs. Liechtenstein (9:45pm);
Wales vs. North Macedonia (9:45pm).
Where the group stands: Belgium needs to bag three points against the bottom-ranked team to qualify. But a draw, or even a loss, would be enough if Wales draws with North Macedonia. Either team may also secure qualification if one defeats the other and Belgium drops the ball. A draw between Wales and Macedonia would see Macedonia sent to the playoffs.
REMEMBER- The European playoffs consist of 12 teams that have all finished as runners-up in their groups, with four additional teams topping their respective UEFA Nations League Groups. Four teams from these playoffs will eventually qualify for the World Cup.
Asia’s path to the Inter-Confederation playoffs: The Basra International Stadium will play host to the second leg of the Asian playoffs final for the Inter-Confederation World Cup Playoffs between Iraq and the UAE later today at 6pm. The first leg, played in the UAE, ended in a 1-1 draw.
Friendlies on our radar today:
Saudi Arabia vs. Algeria (6:30pm);
Catalonia vs. Palestine (7:30pm);
Morocco vs. Uganda (9pm);
Brazil vs. Tunisia (9:30pm);
USA vs. Uruguay (2am);
Mexico vs. Paraguay (3:30am).
CORRECTION- Yesterday’s PM edition incorrectly stated that the Iran vs. Uzbekistan match in the Al Ain International Cup final was scheduled for 6pm on Monday. The match will take place today at 6pm, and we have updated the story on the website.
🎙️ Stand-up on a grand scale: Comedy is taking over the Cairo International Stadium with a show from The Elite Comedians on Saturday, 22 November. Gear up for a night of laughter like never before. Tickets are selling out fast — grab yours now on Tazkarti.
HAPPENING THIS WEEK-
Maadi’s Saad Studio is hosting a Posters for Palestine program with visual artist Maram Alrefaei. The online round for the design workshop will take place on Tuesday, 18 November, Wednesday, 19 November, Tuesday, 25 November, and Wednesday, 26 November. This is your chance to show your creativity and your solidarity with the cause. Book your spot through a form posted in their Instagram bio.
Get jazzy: The Embassy of Belgium and the Embassy of Netherlands are hosting a special jazz concert tomorrow night on Wednesday, 19 November, starring renowned Belgian jazz pianist Jef Neve and Dutch trumpet master Teus Nobel. Taking place at AUC Tahrir’s Ewart Memorial Hall, expect a night of groovy numbers and unforgettable vibes. Entrance is at no charge.
Catch the theatrical performance of Daydreaming at Rawabet Art Space on Thursday, 20 November, Friday, 21 November, and Saturday, 22 November. The play blends illusion and reality as a man copes through fantasy to deal with his relationships. You can get your tickets on Ticketsmarché.
HAPPENING LATER-
The first ever Pyramids Echo Festival kicks off at the Pyramids Panorama Theater on Monday, 24 November, running until Sunday, 30 November. Expect six magical nights of musical performances featuring global and Egyptian talents. Opening the festival is renowned Chinese pianist Lang Lang, performing alongside The Royal Philharmonic Concert Orchestra, conducted by Ben Palmer. The celebrations will continue at the New Opera House for encore performances on Friday, 12 December and Saturday, 13 December. Tickets for all nights are available on Tazkarti.
Grammy-nominee Ibrahim Maalouf is coming to Egypt as part of his tribute tour, marking the 10th anniversary of his acclaimed album Kalthoum. Catch the Lebanese producer and trumpeter this winter at New Capital’s Concert Hall as he honors the late legend Umm Kulthum on Saturday, 20 December. You can get your tickets now on Ticketsmarché.
Attention Cairo runners: Registration is now open for Cairo Marathon 2026, happening on 6 February, 2026. Claim your spot through Cairo Runners’ website — tickets available until 30 January, 2026.
The EGX30 fell 1.4% at today’s close on turnover of EGP 5.3 bn (8.9% above the 90-day average). International investors were the sole net sellers. The index is up 36.2% YTD.
In the green: Juhayna (+2.3%), Abu Qir Fertilizers (+1.2%), and Ibnsina Pharma (+0.9%).
In the red: GB Corp (-4.1%), Misr Cement (-3.8%), and Emaar Misr (-3.6%).
💻 OUR FOUNDER OF THE WEEK- Every Tuesday, Founder of the Week looks at how a successful member of Egypt’s business or startup community got their big break, asks about their experiences running a company, and gets their advice for budding entrepreneurs. Speaking to us this week is Ibrahim Gharbawi (LinkedIn), founder and CEO of Bit68.
My name is Ibrahim Gharbawi, and I’m the founder and CEO of Bit68, an integrated software solutions company that seeks to provide real value and true partnerships to our clients, going beyond face-value requirements. I graduated from the American University in Cairo with a bachelor’s degree in computer engineering, and I’ve always been passionate about tech. What I learned at university, first and foremost, was discipline — I had to learn how to teach myself, how to find problems, and how to fix them. That is what has shaped my mindset.
I started off my career before graduation as a freelance software engineer — I never followed the traditional corporate route. The reason why I wanted to kickstart my career early on was because I wanted to be able to travel during both winter and summer breaks. I began honing my skills through extracurricular activities, even designing a stock market simulator for one of them. I started taking on more projects, and one thing led to another and I eventually found myself freelancing. Along the way, I noticed a gap in the market: the lack of strategic guidance to help clients turn their vision into reality.
I took the risk and founded Bit68 at a time when I was hindered by neither a full-time job nor financial responsibilities, given I was still a student at the time. In those early days, my main objective was to build something I could call my own, and not have to rely on the traditional corporate model and its hindrances. Today, we exist to offer our clients custom software solutions, and right now we’re 70 incredible engineers strong.
Back then, clients were, for the most part, dealing with freelancers or software development companies that didn’t quite get what they wanted. That’s when I realized that the main problem was that clients didn’t necessarily understand how the industry worked, and software developers only did what they were asked to do, never going the extra mile. In short, clients were looking for someone they could trust, someone transparent, and that was my main entry point.
What makes Bit68 different is that we exist to help our clients figure out exactly what they need, rather than what they want. One of the things we aid them in is identifying where their product lies on the maturity curve. We’re with them every step of the way, but we don’t sign maintenance agreements, we sign retainers. We have clients that have been with us since the very beginning, and we’re hopeful and confident that they’ll still be here for the next five, and ten years.
One day I came to the realization that this is what my career would look like forever. It wasn’t just a side gig, it was my future. The first time I felt truly successful was when I realized I couldn’t keep up with demand; writing proposals, following up with clients, and so on and so forth. It was a good problem to have. There is also a renewed feeling of success every time we launch a major website and it’s kept alive and running during times of heavy traffic. Prior to working with us, some clients would have their websites crash during Black Friday.
Bit68 has come a long way, and I still see further growth in our future. I want Bit68 to go global, and we’re already on the way. We’ve expanded to the UAE, and we’re working on expansions throughout the GCC, Europe, and South Africa. I envision us as a key player in the global industry. With the rise of AI, we’ve also been readying our squad to embrace a new era of AI transformation, and in doing so, hopefully becoming market leaders.
The economy has seen lots of changes since Bit68 was first founded, and to be quite frank, our industry actually benefited from them. During times of economic crises, particularly the pandemic and the devaluations, global businesses looked to us as a way to cut costs, and that was essentially what drove us to look beyond the Egyptian market. As of today, around 40% of our revenue comes from international clients, and we’re hoping to maintain that balance.
One thing I would like to change about the industry is checkbox delivery. Most large-scale projects usually operate on a checkbox basis, where service providers essentially work off a to-do list provided by the client. I would love to see more developers adopt an R&D approach and take on a hands-on attitude with clients.
The most rewarding aspect of running Bit68 is seeing our clients grow because of the work we’re able to provide. It’s always a wonderful feeling whenever I see a project come to life, problems solved, and solutions presented. What really keeps me going, however, is helping young talents grow into capable leaders. The most difficult aspect is maintaining a balance between timeliness, quality, and ambition.
Speaking of balance, I wouldn’t say I follow a traditional model of work-life balance. If I’m looking at things from a week-by-week perspective, I definitely don’t have a proper balance. If I go back and examine my life year-by-year, however, I’d say I definitely do. It’s a seasonal occupation, so there are months where you would work 24/7, and others where you’d have some extra time to yourself, and that personally works for me. I didn’t have that luxury in the early days, but fortunately I do now.
Most of my readings are quite technical, and there’s a certain book I’d like to recommend called The Mythical Man-Month by Frederick P. Brooks Jr. — It’s a series of essays on software engineering, and it tackles quite a few problems we find ourselves facing at Bit68. It’s been a great resource.
If I could go back in time and give my younger self some advice, I’d say this: give the traditional route a try. There are things I’ve learned through experimentation that I could have easily learned by staying in a full-time job with the right mentor. I’d also tell my younger self to start raising money much earlier. My younger self prioritized keeping all the equity over running faster, but had I welcomed investments sooner, we would have grown exponentially faster.
My advice for up-and-coming entrepreneurs would be to find a real problem and offer a real solution. Don’t just start a business for the sake of starting a business or hopping on a trend.