Olive oil can guard against dementia

1

WHAT WE’RE TRACKING TONIGHT

THIS EVENING: Inflation cools again in April

Good afternoon, ladies and gentlemen, and a very happy THURSDAY to you all. It may have been an abridged workweek at the tail-end of a string of long weekends.

THE BIG STORY TODAY

Inflation falls once again as price shocks continue to cool post-float: Annual headline inflation in Egyptian cities eases for the second consecutive month to 32.5% in April from 33.3% in March amid the slowdown of consumer price increases after the float, figures from state agency Capmas show.

Food inflation hits its slowest rates since December 2022: Food and beverage prices — the largest component of the basket of goods and services used to calculate headline inflation — continued to rise, albeit at the lowest rate of increase since December 2022, according to our math. Food inflation came in at 40.5% in April compared to 45.0% in March. F&B prices also decreased by 0.9% m-o-m in April, marking the first month of deflation since August 2021.

Foreign investors are falling in love with Egypt again… Foreign investors we speak with (debt, equity, and strategic alike) have a growing appetite for Egypt. They’re buying into local debt, eyeing promising shares, and committing bns of USD to both new ventures here and the growth of their existing businesses. They like the Egypt story that’s taking shape after the float of the EGP, and our competitive advantages are clear to many of them: We’re a massive consumer opportunity and the regional export hub of tomorrow.

…but here at home, our community is in a rut. The enthusiasm gap between domestic business leaders and global investors is stark.

We’d all do well to remember: It’s a chicken-and-egg kind of thing. Foreign strategic investors will be reluctant to commit capital here until they see Egyptian businesses leading the way.

The Enterprise Optimism Forum 2024 will do exactly what it says on the tin: Spark conversations about a future that we think is much brighter than so many in our community feel right now. Think of it as much-needed shock therapy combined with an early, actionable roadmap for those of us who are “long Egypt.”

We’ll be talking with you about the agenda over the coming couple of weeks.It features speakers from Egypt and abroad who are future-proofing their businesses and angling to capture tomorrow’s opportunities — and who aren’t afraid to answer some tough questions.

*** Interested in attending? Tap or click here to let us know. Seating is limited.

THE BIG STORY ABROAD

Washington is still firm in withholding bombs from Israel in hopes of thwarting an attack on Rafah. US President Joe Biden’s administration made the decision to stall the delivery of 3.5k 500- and 2k-pound bombs to Israel until it pauses its attack on Rafah, where over 1 mn Palestinians are taking refuge. The hold on bombs doesn’t extend to other weaponry, but Biden’s administration has threatened to withhold artillery shells that Israel has been firing into Rafah. Israeli assaults on Rafah in the past few days have already claimed the lives of 55 Palestinians, bringing the death toll to 34.9k since October 2023. (NYT | Reuters | Bloomberg | CNN)

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

Business activity at its second lowest point in the last 12 months despite hopes of a post-float rebound: Activity in Egypt’s non-oil private sector activity slipped further in April, while inflationary pressures fell and business sentiment improved.
Egyptian securities are back in the MSCI’s good books: Global index provider MSCI has decided to remove all special treatment measures on Egyptian securities listed in its indices in the May 2024 index review.
Mnzl closes funding round led by international and Africa-focused VCs: Local startup Mnzl has raised USD 3.5 mn in a funding round led by Africa-focussed P1 Ventures, the UK’s Localglobe, and Nigeria-based Ingressive Capital.

☀️ TOMORROW’S WEATHER- Get ready for even warmer weather in Cairo tomorrow, with the mercury set to peak at 37°C and drop to a low of 21°C, according to our favorite weather app.

Could olive oil prevent dementia?

Consuming at least half a teaspoon of olive oil daily could lower the risk of dementia-related death, researchers at Harvard TH Chan School of Public Health and Zhejiang University School of Medicine found in a recent study. The study, which looked at 92k male and female health professionals, found that those who consumed half a teaspoon of olive oil each day had a 28% lower risk of dying from dementia compared to those who didn’t consume olive oil at all, regardless of the other details of their diet.

We already know olive oil helps with a healthy heart, but the correlation with dementia prevention is new: Other studies have previously associated consuming olive oil with lower risks of cardiovascular diseases, especially among older adults. Those who consumed olive oil regularly were found to have 19% less chance of dying from cardiovascular disease, which, in turn also improves brain function. “Olive oil is rich in monounsaturated fats and contains compounds with antioxidant activity that may play a protective role for the brain,” Marta Guasche-Ferre, one of the corresponding authors for the study, tells the Washington Post.

Before you start guzzling olive oil: Although the research does show an association between olive oil consumption and lower risk of dementia, the study does not prove a causal relationship, with further research required to ascertain causality and the “optimal quantity of olive oil intake,” Guasche-Ferre says. The research study is also potentially limited by its research sample, as health professionals may have lifestyles that make it difficult to extrapolate results to the general public.

It also might just be that people who consume olive oil generally tend to be more health conscious than others who consume less-healthy types of oil and fats, clinical neurologist David Knopman notes. Overall lifestyle choices — including smoking, exercising, sleeping, and dietary habits — have a massive impact on cognitive and cardiovascular health, which are significant determinants of the risk of dementia, Knopman says.

Prince’s Purple Rain era guitar on auction: Late singer Prince’s iconic yellow Cloud 3 guitar — which he used during tours for albums including Purple Rain, will be sold at auction at the end of the month, Julien’s Auctions said. The guitar is “conservatively estimated” to reel in some USD 400-600k, the auction house says.

The guitar has seen a lot of stages — and has been on the auction block before:In 2005, the guitar was sold by Christie’s for GBP 4.2k and later on Ebay for GBP 59k. Although the guitar previously went for much lower tickets than Julien’s expects to sell it for this time around, the auction house has previously sold three other guitars that once belonged to the rock star. Prince’s blue teal Cloud guitar set the record for the most expensive guitar sold at auction by fetching USD 700k in 2017, according to the Guardian.

Also adding excitement to the sale: Julien’s will be selling a handful of guitars from other rock legends, including the Sex Pistols’ Steve Jones, Bono, John Lennon, Bob Dylan and Robbie Roberston’s.

Poor Things: Frankenstein, but make it a Victorian-era woman

? ON THE TUBE TONIGHT-
(all times CLT)

Retelling the classic Frankenstein tale in Poor Things: Adapted from Alasdair Gray's 1992 novel, the film — written by Tony McNamara and directed by the acclaimed Yorgos Lanthimos — promises a wild ride through a world distorted by patriarchal power disparities and steeped in gothic, steampunk-infused Victoriana.

Bella Baxter (Emma Stone), a Victorian woman with an enigmatic past and eccentric tendencies, lives under the watchful eye of her guardian, Dr. Godwin Baxter (Willem Dafoe). Dr Godwin, an unorthodox scientist, conducts bizarre experiments in his opulent London mansion, which includes dissecting corpses to unravel their mysteries.

Bella is revealed to be the result of one of Baxter's experiments: Her brain was swapped with that of a fetus, leading to a peculiar disconnect between her body and mind. Despite her monstrous appearance and behavior, Bella embarks on a journey of growth and self-discovery, influenced by two suitors: The earnest documentarian Max McCandless (Ramy Youssef) and the charming huckster Duncan Wedderburn (Mark Ruffalo).

As Bella travels with Duncan, her horizons expand, and she encounters both the pleasures and cruelties of the world. Through episodic adventures, she learns, evolves intellectually, and navigates complex moral dilemmas, all while grappling with her monstrous nature and evolving sense of self. The film offers a darkly humorous and thought-provoking exploration of identity, morality, and the complexities of humanity within a surreal Victorian setting.

It’s a blend of whimsy, intellect, and subversive storytelling, which immerse viewers in a carnival of oddness that is as audacious as it is unforgettable. To prove the excellent performances, Emma Stone nabbed herself an Oscar for Best Actress Awards.

DISCLAIMER- This is not a family watch.

WHERE TO WATCH- You can watch Poor Things on Disney+ or check out the trailer (watch trailer, runtime 1:23)

⚽ Today is the second leg of the Europa League semi finals and things are heating up: Leverkusen will be going head to head with Roma and Atalanta will play against Marseille, both at 10pm to secure the spot in the finals. In the first leg we saw Atalanta and Marseille draw 1-1, whereas Leverkusen defeated Roma 2-0.

Man City is kicking off gameweek 37 of the English Premier League where they’ll be playing against Fulham this Saturday at 2:30pm. The round will continue until Wednesday, 15 May offering us enticing matches daily.

Other matches in the Premier League playing on Saturday:

Tottenham vs Burnley (5pm)
Newcastle vs Brighton (5pm)
Bournemouth vs Brentford (5pm)
Everton vs Sheffield (5pm)
West Ham vs Luton (5pm)
Wolves vs Crystal Palace (5pm)
Nottingham Forest vs Chelsea (7:30pm)

***Join the Enterprise Fantasy League and compete with our dear readers for the first place, all you have to do is click on this link or use this code: abd0f7.

La Liga champions are going to play against Granada:Real Madrid will play Granada in gameweek 35 at 7:30pm this Saturday, after securing their victory of the Spanish League title. The Merengues were supposed to receive the League Cup after the match, but management decided to postpone the celebration out of respect for the feelings of Granada fans, whose team is about to be relegated, according to AS.

Other matches to watch out for in European Leagues this weekend:

Deportivo Alavés vs Girona (La Liga, 10pm Friday)
Frosinone vs Inter Milan (Serie A, 9:45pm Friday)
Villareal vs Sevilla (La Liga, 5:15pm Saturday)
Athletic Bilbao vs Osasuna (La Liga, 10pm Saturday)
Napoli vs Bologna (Serie A, 7pm Saturday)
Milan vs Cagliari (Serie A, 9:45pm Saturday)
Mainz vs Dortmund (Bundesliga, 7:30pm Saturday)

Al Ahly and Baladiyat El Mahalla will kick off their match in the Egyptian Premier League this Saturday at 7pm, while table leader Pyramids will play against Al Masry at the same time in gameweek 22.

Other league matches this weekend:

Ismaily vs El Dakhleya (Thursday, 4pm)
Smouha vs ZED (Thursday, 7pm)
Ceramica Cleopatra vs El Gaish (Friday, 4pm)
El Gouna vs Pharco (Friday, 7pm)
Future vs National Bank (Friday, 7pm)
Al Mokawloon vs Al Ittihad (Saturday, 4pm)

The Sleeping Beauty on the Grand Stage: The Cairo Opera Ballet Company and the Cairo Symphony Orchestra will be performing four shows of Tchaikovsky’s The Sleeping Beauty at the Zamalek Opera House, starting tonight to Monday, 13 May. Grab tickets for the first, second, third, and fourth productions from Tazkarti.

Zawya’sCairo Cinema Days is back: Zawya’s film program is a showcase of the latest and most prominent productions in Arab cinema within the past year. Throughout a three-month period, you can watch films from Palestine, Lebanon, Tunisia, Saudi Arabia, Jordan, Morocco, Sudan, and Egypt. You can find more information on this month’s film selection here.

Experience true culinary discovery at Flavor Republic’s Cairo Food Week. The week-long event being held at Downtown District is starting tomorrow and will continue through to Thursday, May 16. You can follow the event itinerary here and grab tickets for each of the individual events here, but expect prices to make a dent in your bank account. You can get to know the co-founders of Flavor Republic, Hoda El Sherif and Sherif Tamim, in this edition of Founder of the Week.

Spend a spring day with Tamer Ashour and Mahmoud El Esseily. The singers will perform at Family Park in Rehab tomorrow, 10 May. Doors open at 7pm. You can find tickets here.

HAPPENING LATER-

Rawabet Art Space is hosting Turning Tables, which looks at human relationships and the complexities of the past that shape our identity and personalities. The play is written and directed by Hani Iskandar and is performed in English. The performances will run over three days from Thursday, 16 May through Saturday, 18 May from 8pm.

The National Museum of Egyptian Civilization (NMEC) is hosting the Empower Her Forumstarting Sunday, 19 May, to Wednesday, 22 May. The forum is meant to promote creative empowerment for women in the art community, hosting women artists from around the world. More information will be posted on their Facebook page closer to the event.

To celebrate 40 years of musical excellence, the legendary Omar Khairat will be taking the stage at Abdeen Palace. Dress to the nines for this event, which is taking place on Friday, 7 June. Tickets can be found here, ranging from EGP 1.5k to EGP 5k.

The return of the Caesar: Legendary singer Kazim Al Sahir is set to perform in Egypt on Friday, 28 June as part of his global concert tour. Booking details will be coming soon, so keep your eyes peeled.

Season 3 of The Dream is here to tell you that some green juice and self care isn’t going to solve all your problems. And you should probably stop buying into the idea of trying to become “the best version of yourself.” Host Jane Marie talks about what self-help actually means and entails, all to examine the efficacy of professional life coaching. With expert guests on board, she looks at the claim that the industry is a capitalist construct that capitalizes on people’s weaknesses by marketing simple life modifications as transformative journeys.

It’s not all negative though: What’s interesting about this podcast is that Jane Marie doesn’t attack life coaches. She assesses, reflects, and comes up with potential alternative solutions with her guests.

WHERE TO LISTEN- You can listen to this podcast on Apple Podcasts and Spotify.

What the markets are doing on 9 May 2024

The EGX30 rose 0.1% at today’s close on turnover of EGP 2.8 bn (42.8% below the 90-day average). Local investors were net buyers. The index is up 4.5% YTD.

In the green: Egypt Kuwait Holding (+7.2%), Abu Qir Fertilizers (+3.2%), and Ezz Steel (+2.1%).

In the red: Qalaa Holdings (-7.5%), Orascom Construction (-3.3%), and Telecom Egypt (-2.0%).

ENTERPRISE ENTERTAINMENT CALENDAR

MAY

9 May (Thursday): GBV in the Digital Age: Challenges and Solutions conference at Dawar Arts.

9 May (Thursday): My Green Homeland art exhibition at the Embassy of the Czech Republic.

9 May (Thursday): Eyes Closed, Everything You See is Yours art exhibition at Access Art Space.

9 May (Thursday): Ain Gamal Vol. 20 at Elsawy Culturewheel.

9-13 May (Thursday-Monday): Tchaikovsky’s The Sleeping Beauty performance at The Opera House.

10 May (Friday): Red Bull Sada Sot at Mall of Arabia.

10 May (Friday): Tamer Ashour and Mahmoud El Esseily concert at Family Park.

10 May (Friday): Fouad and Mounib at Theatro Arkan.

10 May (Friday): Madinaty Half Marathon at Madinaty Open Air Mall.

11 May (Saturday): Red Sea Heritage musical show at ROOM Garden City.

11 May (Saturday): Cairo Flea Market at Zamalek Fish Garden.

11 May (Saturday): Freelancers Union - Meetup at The GrEEK Campus.

14 May (Tuesday): Rock Night at Elsawy Culturewheel.

16-18 May (Thursday-Saturday): Turning Tables at Rawabet Art Space.

16-18 May (Thursday-Saturday): Rise Up Summit at the Grand Egyptian Museum.

17 May (Friday): El Mahatta at The American University in Cairo.

17 May (Friday): Aly Elhaggar concert at Must Theatre.

17 May (Friday): Musical Theatre Event with Medhat Saleh, Reham Abd Elhakim, and Mai Farouk at Zed Park.

18 May (Saturday): Farma, Marcia, and Rachel walking tour by Qahrawya.

18 May (Saturday): Red Bull Login gaming event at District 5.

23-25 May (Thursday-Saturday): The Design Show at Cairo International Conventions Center.

24 May (Friday): The Glow Run by The TriFactory at Palm Hills Sports Club.

24 May (Friday): The Elite Super Show at the Cairo International Stadium.

25 May (Saturday): Techne Summit at the Cairo International Stadium.

26 May (Sunday): El’Emara performance at Rawabet Art Space.

27-30 May (Monday-Thursday): Account Management For Ads Workshop with FP7’s Momen Aboutaleb at The GrEEK Campus.

30 May (Thursday): Mochakk Concert at Saqqara Pyramid.

JUNE

4 June (Tuesday): Karaoke Night at Room Garden City

7 June (Friday): Celebrating 40 Years of Omar Khairat at Abdeen Palace.

15-19 June (Saturday-Wednesday): Eid El Adha (TBC).

30 June (Sunday): June 30 Revolution Day (TBC).

JULY

7 July (Sunday): National holiday in observance of Islamic New Year (TBC).

23 July (Tuesday): Revolution Day (TBC).

SEPTEMBER

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

OCTOBER

6 October (Sunday): Armed Forces Day.

Sections

About

Privacy & Support

Get EnterpriseAM daily