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WHAT WE’RE TRACKING TONIGHT

Al Ismaelia to help expand Downtown Cairo’s hotel capacity

Good afternoon, all, and happy almost-Thursday. We have started counting down to one of the last weekends of this summer season.

THE BIG STORY TODAY

Al Ismaelia has a plan to expand Downtown’s hotel capacity: Cairo-focused real estate firm Al Ismaelia for Real Estate Investment wants to invest some EGP 300 mn to set up two new hotels and EGP 50 mn to develop a number of hotel apartments in Downtown Cairo, CEO Karim Shafie told Al Borsa. The company plans to start working on the projects early next year and have them ready before the end of 2025, he added. The projects will add a combined 120 units to the area’s hotel capacity.

Who’s paying? The company has secured a EGP 145 mn loan from the European Bank for Reconstruction and Development to fund the project, with tranches to be distributed through 2025.

THE BIG STORY ABROAD

The global front pages are yet to shift their attention from the Obamas at the DNC: The first Black president and one of the most popular political figures in the US, respectively, Barack and Michelle Obama’s endorsement of Kamala Harris on the second night of the Democratic National Convention (DNC) continues to captivate the foreign press. The former president said the US is “ready for a new chapter” with Harris, but acknowledged the tight presidential race ahead.

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

  • Electricity price hikes for the industrial sector are just around the corner: The government is set to hike electricity prices for the industrial sector for the first time in four years on the back of record-high electricity production costs.
  • Saudi Arabia is increasingly looking towards Egyptian construction companies: Saudi Arabia’s National Housing Company is set to launch a limited tender for Egyptian construction companies to bid on USD 200 bn worth of housing and infrastructure projects in the kingdom.
  • Import restrictions on non-essential goods could be on their way out: The Central Bank of Egypt has signaled that it could ease import restrictions on all non-essential goods after requesting banks to list import requests.

☀️TOMORROW’S WEATHER- The mercury is peaking in Cairo at a high of 37°C before simmering to a low of 27°C by nightfall, according to our favorite weather app. Sahel and Alexandria are seeing cooler weather, with highs of 32°C and lows of 24-25°C.

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FOR YOUR COMMUTE

Is it time for a disconnect policy?

Is disconnecting after work a human right? Since Covid-19, remote working has made flexible hours increasingly common, but now employees feel pressured to always be online. Britain is set to draw the line of balance by introducing the “right to disconnect” to a host of other workers’ rights. But the question is: Does one size fit all?

While some businesses inherently require employees to be on-call to respond to client needs, this shouldn’t be the norm. These include health and emergency services, financial firms, and tech companies. Those employees usually accept the idea that being contactable outside of working hours is a part of the job or is justified by the pay, according to the Financial Times.

The movement is catching on: Other countries have also started adopting restrictions to prevent employers from taking advantage of out-of-hours communications and requests. Portugal set a fine of EUR 10k for any company made up of over 10 people contacting employees after their normal hours unless there is an emergency. France’s droit à la déconnexion gives employees the right to not respond to employers until their working hours start without any repercussions. Belgium and Ireland are now expecting employers to set policies addressing out-of-hour communication.


Brainwaves can now be tracked and turned into data. And like all other data, it’s being bought and sold, CNBC reports. Wearable consumer tech — like sleep masks and headbands that monitor brain activity — has been capturing our neural data, with few legal protections in place for its users.

The concern? Tech companies are diving into this space, with giants like Neuralink and Apple making strides in brain-sensing technologies. The market for these devices is booming, with predictions that it will double in size over the next few years. Without clear regulations, companies can commodify brain data, potentially tracking not just your browsing history but how your brain reacts to the things you view.

Enter Colorado, USA, the first state to pass a law aimed at protecting neural data. Under the Colorado Consumer Protection Act, the state has expanded the definition of sensitive data to include biological information, covering everything from brainwaves to genetic traits. The law focuses on wearable tech, which falls outside of strict medical privacy protections like HIPAA, despite collecting neural data through everyday consumer devices.

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ENTERPRISE RECOMMENDS

Evil spirits aren’t the worst thing this family has to face

? ON THE TUBE TONIGHT-
(all times CLT)

Them pulls you into a nightmare from the get-go. It follows the Emorys, a black family that moves to a predominantly white neighborhood in Los Angeles in the 1950s. What seems like a straightforward story about discrimination is infused with supernatural forces that only add to the tension.

The creepy tone is set as soon as they settle into their new home. Lucky (Deborah Ayorinde), Henry (Ashley Thomas), and their daughters Ruby (Shahadi Wright Joseph), and Gracie (Melody Hurd) immediately notice that something is off, and it’s not just the angry glares from their neighbors. As you make your way through the episodes, the jump scares take a step aside to welcome the chilling reality of the family’s situation, which was surprisingly even scarier.

Warning: This isn’t an easy watch. Prepare to be hit with the emotional weight of a ton of bricks, and moments where you need to stop for a breather.

WHERE TO WATCH- You can watch Them on Prime or watch the trailer (runtime: 2:21).

⚽The round of 16 of the Egypt Cup concludes today at 9pm, when Zamalek meet Talaea El Gaish on the pitch. Zamalek hopes to compensate its fans for a disappointing season by nabbing the title. Quarterfinal matches are taking place at the same time, with Pyramids and El Gouna going head to head.

Other cup matches to look out for:

  • Ceramica Cleopatra vs. ZED (6pm).
  • Ismaily vs. Smouha (6pm).

? EAT THIS TONIGHT-

Foodrows is a back-to-basics solution to your Chinese food cravings. This Talabat cloud kitchen doesn’t have extensive offerings, but its back-to-basics menu, which includes noodles, fried rice, stir fry, and dumplings, is designed to hit the spot.

Don’t let the four dim sum options complicate your order. We (less-than-begrudgingly) tried the whole range to recommend the best of the best. The cristal shrimps dumplings are #1 on our must-order list. This steamed appetizer comes in four bites of seasoned minced shrimp wrapped in traditional wonton with a side of soy sauce for dipping. Don’t take our word for it? Order their signature dim sum platter for two of the shrimp, chicken, and beef dumplings each and judge for yourself.

Looking for more adventurous appis? Skip the vegetable spring rolls and order the fried crab claws. The light, crispy batter houses fresh tender crab meat. The best part? You get to keep the claws. The sesame shrimp toast — fried toast with a layer of shrimp paste coated in sesame — is a tasty bite. But a word to the wise: Just one portion will leave you wanting.

The mains: From poultry to seafood and vegetarian-friendly options, you won’t suffer to find something compelling to order. The dishes might not offer any mind-blowing flavor combos or cuisine-defying techniques, but if you’re looking for a comfort meal, you’ll find it on Foodrows’ menu.

Where do they deliver? Maadi denizens are the lucky ones this time. You can find them on Talabat.

? OUT AND ABOUT-
(all times CLT)

The legendary Omar Khairat will be taking the stage alongside Esaad Younis for a live episode of Sahbet Al Saada at the New Alamein Festival tomorrow at 10pm. Get your tickets here.

Nour Project and Wust El Balad will be performing at CJC 610 tonight at 10pm. For reservations send them a message on their Facebook page.

Witness both the origin of love and its future in Kaif Badaa El Hob: fi sanat 3000. The play will take place on Friday, 23 August and Saturday, 24 August at Rawabet Art Space. Grab your tickets here.

The iconic Cairokee will be performing at the festival with Tul8te opening for them on Friday, 23 August. Find your tickets to the band’s show here.

Let your inner child roam at The Play Festival Vol.2 at D-Bay on Friday, 23 August. After the success of Vol.1, this edition promises to come back with bigger interactive experiences and live content from Peace Cake. Tickets are now available.

HAPPENING LATER-

None other than Wegz to close out the iconic new Alamein Festival. The concert will take place Friday, 30 August at the U-Arena and you can grab your tickets here.

MENA’s first and only design-film festival is back: Film My Design festival is back for its third edition — under the theme Designing Our Lives for a Better Future —, taking place from Thursday, 3 October to Saturday, 12 October at Zawya Cinema. The festival features film screenings, masterclasses, a motion design exhibition, VR immersive experiences, and much more. Buy your tickets here.

? UNDER THE LAMPLIGHT-

Cultures clash as a young girl forms her identity in The Things We Didn’t Know by Elba Iris Perez. Andrea Rodriguez is only nine when her mother moves her and her brother Pablo from Massachusetts to a small mountain village in Puerto Rico. A few months later, their mother brings them back to Massachusetts, but their hometown has changed — and so have they.

Growing up is hard enough, but the nuances of combining different cultures and values makes it even harder. Andrea and her brother Pablo embark on this journey together and try to navigate their coming of age and diverse upbringing in 1950s America.

Perez’ writing tugs at the heartstrings. You’ll find yourself rooting for the characters throughout their varied struggles and sympathize with their actions even when detrimental. And although not a biography, their story feels authentic in a way that will have you hanging on to every word to see if the characters make it in the end.

You can find the book on Amazon.

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GO WITH THE FLOW

What the markets are doing on 21 August 2024

The EGX30 remained flat at today’s close on turnover of EGP 5.0 bn (38.3% above the 90-day average). Regional investors were the sole net sellers. The index is up 20.7% YTD.

In the green: Beltone Holding (+5.2%), ADIB (+4.6%), and GB Corp (+3.7%).

In the red: Elsewedy Electric (-4.4%), Alexandria Containers and Cargo Handling (-3.9%), and Ezz Steel (-3.4%).

This publication is proudly sponsored by


AUGUST

16 July-15 October (Tuesday-Tuesday): In the Company of Mahmoud Said exhibition at Aisha Fahmy Palace.

11 June-2 September (Tuesday-Monday): Afashat w Aflam exhibition at Bibliothek.

11 July-30 August (Thursday-Friday): New Alamein Festival at North Coast.

11 July-30 August (Thursday-Friday): Paramotor Ride at North Square.

12-24 August ( Monday-Saturday): I Love You, You’re Perfect, Now Change at Rawabet Art Space.

21 August (Wednesday): Nour Project and Wust El Balad at CJC 610.

22 August (Thursday): Gen Z Festival at D-Bay.

22 August (Thursday): Esaad Younis and Omar Khairat at New Alamein Festival.

23 August (Friday): Cairokee at New Alamein Festival.

23 August (Friday): The Play Festival Vol2at D-Bay.

23-24 August (Friday-Saturday): Kaif Badaa El Hob: fi sanat 3000 at Rawabet Art Space.

24 August (Saturday): The Bond-Fire Vol 1 at D-Bay.

28 August (Wednesday): Omar Khairat concert at Mahka Theatre in Salah El Din Citadel.

30 August (Friday): Wegz Live at New Alamein Festival.

31 August (Saturday): Adriatique at AHM Club in Silversands.

SEPTEMBER

1-4 September (Monday-Wednesday): International Food, Beverage & SuperMarket Equipment Exhibition 2024 at Cairo International Convention Centre.

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

19 September (Thursday): Omar Khairat concert at ZED Park

OCTOBER

6 October (Sunday): Armed Forces Day.

3-12 October (Thursday-Thursday): Film My Design festival at Zawya Cinema.

10-12 October (Thursday-Saturday): EVs Electrify! Expo & Conference 2024 at Egypt International Exhibition Center.

29-30 October (Tuesday-Wednesday): Intelligent Cities Exhibition & Conference (ICEC) at Waldorf Astoria.

NOVEMBER

14-16 November (Thursday-Saturday): Raabta Wellness Festival at El Gouna.

DECEMBER

14 December (Saturday): The Marakez Pyramids Half Marathon.

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