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1

WHAT WE’RE TRACKING TONIGHT

Shalateen’s gold deliveries to the central bank to hit 1.25 tons next year

Good afternoon, friends, and congratulations on making it to the weekend.

THE BIG STORY TODAY

Shalateen looks to up its gold deliveries by 25% next year: State-owned Shalateen Mineral Resources Company is planning to deliver 1.25 tons of gold to the Central Bank of Egypt in 2025, up 25% from the 1 ton it expects to deliver this year, Asharq Business reports, citing an unnamed government source it says has knowledge of the matter. Shalateen delivered 720 kg of gold worth EGP 1.3 bn in 2023.

THE BIG STORY ABROAD

Trump, Musk torpedo federal spending plan: The US government is two days away from a partial shutdown as Congress faces pressure from US President-elect Donald Trump to reject a temporary federal spending bill. The bipartisan bill — which would avoid a shutdown in the days before Christmas holidays — includes some USD 100 bn for hurricane relief and USD 10 bn for agricultural aid. Elon Musk also pressured Congress earlier this week to reject the bill. (New York Times | BBC | AP | The Guardian)

ALSO GETTING INK- A French court sentenced Dominique Pélicot — who was found guilty of drugging and assaulting his wife with strangers for several years — to 20 years in prison. Another 46 defendants in the case were also found guilty of rape, while two were guilty of attempted rape. Two others were charged with [redacted] assault. The story got ink from Reuters and the Financial Times.

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

  • Fitch Solutions’ research unit BMI now expects the Egyptian economy to grow 5.1% in FY 2025-2026, up 0.4 percent points from its previous 4.7% projection.
  • Hassan Allam secures another big port construction project: The Emirati, ADQ-owned port giant Abu Dhabi Ports has chosen local construction and contracting leader Hassan Allam Construction to build the infrastructure for its Noatum Ports at the Safaga terminal in the Red Sea.
  • All gas, no brakes for plans to locally assemble MG-branded vehicles: Al Mansour Automotive and Chinese state-owned SAIC’s project to assemble traditional and electric cars for SAIC-owned brand MG in Egypt are moving along, with the government allocating a 21k sqm plot in Sixth of October for the project.

☀️ TOMORROW’S WEATHER- The temperature is expected to drop even lower this weekend, with tomorrow’s mercury expected to reach a high of 21°C in the capital, and a low of 13°C at night, according to our favourite weather app.

2

FOR YOUR COMMUTE

ChatGPT wants to be your everything app

ChatGPT may beat X in the race to become an “everything app.” From organizing your work schedule to offering personal assistance and answering your queries — even by phone if you don’t have internet — OpenAI is creating a unified experience so that users can access a variety of services without ever leaving the ChatGPT app. But it’s about more than convenience — features like Search, Canvas, and Advanced Voice Mode make it clear that OpenAI is laying the groundwork to make ChatGPT as indispensable as your phone, Mashable reports.

(Tap or click the headline above to read this story with all of the links to external sources.)

Guess who did it first: China’s WeChat already implemented the concept of the “everything app,” while Elon Musk has had similar plans for X. But it’s Apple that set the gold standard, creating a seamless system where all of its services work together across all its products. With ChatGPT’s integration on iPhones as part of Apple’s AI-centric iOS 18, OpenAI seems to be borrowing from Apple’s playbook by making ChatGPT " frictionless and easy to use ” in the realm of lifestyle tech

The real game changer will be ChatGPT’s agents, expected to roll out in 2025. These agents will be capable of performing tasks on behalf of users, such as booking flights, writing code, and browsing the web — bringing us closer to the vision of the AGI. Some critics point out that generative AI still faces issues like “ hallucination, misinformation, defamation, and copyright,” but beta versions of AGI like Google’s Mariner are already dipping their toes into the market.

It’s more than just bells and whistles: These developments are part of a grander plan to make ChatGPT indispensable in both our work and personal lives. With over 10 mn users already subscribing to ChatGPT Plus and OpenAI projecting USD 100 bn in revenue by 2029, the company’s financial success depends heavily on making ChatGPT as valuable as possible to users — by turning it into a subscription-based tool they can't live without.

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ON THE TUBE TONIGHT

A tale of death and vengeance

Who killed Nadia? Inspired by the Spanish crime series Who Killed Sara, Netflix’s Date With The Past is a murdery mystery revolving around the protagonist exacting revenge, uncovering the truth, and unraveling the complexities of the past.

(Tap or click the headline above to read this story with all of the links to external sources.)

Yehia is released from prison after 15 years of being wrongfully convicted of murdering his sister Nadia (Huda El Mufti), who drowned during a diving trip. Determined to avenge her death, overturn his conviction, and expose the true culprit, Yehia (Asser Yassin as an adult and Youssef Raafat as a teen) begins to dig into the past. His old friends, all of whom were on that trip — Sherif (Tamer Nabil and Omar Sherif Badr), Ali (Sherif Salama and Abdullah Ashraf), and Mona (Saba Mubarak and Hagar El Hadi) — become suspects.

Yehia teams up with Layla (Rakeen Saad), Ali and Mona’s younger sister, who insists on joining him in uncovering the truth — one her parents (Sherine Reda and Mahmoud Hemeida) have refused to share with her.

The series has dominated Netflix Egypt’s most watched list since its release, garnering widespread attention from both fans and critics. It’s hard enough not to binge-watch the entire show in one sitting based on its premise, but it was made even harder by the standout performances by the younger cast. While there may be some plot holes impacting the logical flow of events, Syrian director Al-Sadir Masoud — known for The Killing — once again proves his ability to deliver a thrilling and entertaining watch that keeps audiences hooked until the final moment.

WHERE TO WATCH- You can find the series on Netflix, or watch the trailer on YouTube (runtime: 1:26).

4

Sports

This weekend’s football forecast

Gross is back in his second stint with Zamalek: After over two weeks focused on CAF matches, Zamalek is back in Egyptian Premier League action tonight, playing against Ceramica Cleopatra for matchweek 5 at 8pm. Zamalek currently sits second on the scoreboard, trailing table leaders Al Masry by a single point, and leading third place Al Ahly by another. Zamalek heads into this game following a sudden shift in leadership after the departure of head coach José Gomes and the return of Christian Gross.

(Tap or click the headline above to read this story with all of the links to external sources.)

Matches to keep an eye on over the weekend:

  • Haras Al Hodoud vs. Al Masry (5pm)
  • Ghazl El Mahalla vs. Al Ittihad (Saturday, 5pm)
  • Ismaily vs. Pyramids (Saturday, 8pm)

The Brits have something to say: The EFL Cup’s final quarter final match is happening tonight, with Tottenham and Man United battling for a spot in the semi-finals at 10pm. The victor will join Arsenal, Newcastle, and Liverpool in the semifinal draw, which will take place right after the final whistle.

We’re looking forward to Super Saturday in the Premier League, as always: Matchweek 17 of the Premier League kicks off this Saturday with five matches on the roster. Leading the games is Aston Villa facing Man City at 2:30pm, followed by Arsenal playing against Crystal Palace at 7:30pm. City, victors of the last four league titles, have only managed to clinch four points from their last seven games, slipping to fifth place, while Arsenal sits in third place, six points from the top.

Matches to catch on Saturday at 5pm:

  • West Ham vs. Brighton
  • Ipswich Town vs. Newcastle
  • Brentford vs. Nottingham Forest

**Don’t miss out on the fierce competition in the Enterprise Fantasy Premier League — click on this link or use the code dlrxz4 to join.

Their Spaniard neighbors are also having their own La Liga showdown: Barcelona will be going head to head with Atlético Madrid for matchweek 18 at 10pm on Saturday. The Blaugrana lead the table with 38 points, tied with Atlético, who have a game in hand and trail behind with only one goal difference. After a flying start to the seasons, Barcelona's momentum has stalled with just one victory and two draws from their last six league matches, while Atlético boasts a perfect six-game victory streak.

Important European league matches to keep an eye out for this weekend:

  • Inter Milan vs. Udinese — Coppa Italia (Thursday, 10pm)
  • Chelsea vs. Shamrock Rovers — Europa League (Thursday, 10pm)
  • Bayern Munich vs. Leipzig — Bundesliga (Friday, 9:30pm)
  • Verona vs. AC Milan — Serie A (Friday, 9:45pm)
  • Frankfurt vs. Mainz — Bundesliga (Saturday, 4:30pm)
  • Genoa vs. Napoli — Serie A (Saturday, 7pm)
  • Bayer Leverkusen vs. Freiburg — Bundesliga (Saturday, 7:30pm)
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5

OUT AND ABOUT

The ultimate gaming event lands in Egypt

MARK YOUR CALENDAR-

? The ultimate gaming event in Egypt is here. Gamergy Egypt will feature live competitions, immersive experiences, and activities to bring together gaming fans of all ages. The festival will take place from Thursday, 30 January to Saturday, 1 February at Al Burouj Cultural Hub. Earlybird tickets are now available on their website.

(Tap or click the headline above to read this story with all of the links to external sources.)

HAPPENING THIS WEEK-

Bahaa Sultan and Mahmoud El Esseily are bringing their music to ElMalahy Arena in New Cairo. The concert will take place tonight at 8pm. Tickets are available through Ticketsmarche.

El Maraya for Culture and Arts is hosting a panel discussion on five celebrated films by female directors: El Hawa Sultan, Al Shanab, El Fustan El Abyad, Meen Yisadda’, and Raf’at Einy Lil Sama. Featuring critics Arwa Taj El-Din, Amal Magdy, Aliaa Talaat, and Fatma Ragah, moderated by Norhan Emad El-Din, the event takes place this Saturday, 21 December at 6:30pm.

Explore Cairo’s most artistic neighborhood with El Gezira Art Tour. Walk around and experience Zamalek in a whole new light this Saturday, 21 December from 10am to 3:30pm. Register through the Google Form link on their Facebook event page.

HAPPENING LATER-

Get in the festive spirit by building a gingerbread house. Hana Bakes is collaborating with Brunch and Cake for a Gingerbread House Making Workshop. Three workshops will take place starting Wednesday 25 December until Friday, 27 December — all at 8pm. Wednesday will be located at Brunch and Cake’s branch in Gold Central, Thursday at Park St. and Friday at Lakeview. Book your spot by messaging Hoogculture on Instagram.

Celebrate Christmas with Gabi Bishara with a night of smooth, soulful jazz at the Boom Room, Open Air Mall Madinaty. The concert will take place on Wednesday, 25 December at 8 pm. Tickets are available on Ticketsmarche.

Release the negativity with the Drum Circle Festival at Gusour Cultural Center on Thursday, 26 December. The circle is a unique experience where you play tabla or drums following an instructor while hanging out and connecting with the group. The event has two rounds, one at 6pm and another at 7pm. Tickets are available on site.

Party from dusk till dawn at Disco-Tech x Retrogroove. The party will take place on Thursday, 26 December at Cook's Club El Gouna featuring Disco-Tech residents Moenes, Jess, Mazen A, and Muze, retrogroove's residents Ralph Nasr and EJ, and guest DJs Akladios, Hermit, Maie and Joey. Grab your tickets on Ticketsmarche.

Egyptian rapper Afroto will be performing at ElMalahy on Friday, 27 December from 8pm. Tickets are available on Ticketsmarche.

End the year with some laughs at comedian Ali Quandil’s 600th show. The show will take place at Theatro Arkan on Tuesday, 31 December at 8pm. Tickets are available on Ticketsmarche.

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GO WITH THE FLOW

What the markets are doing on 19 December 2024

The EGX30 rose 0.08% at today’s close on turnover of EGP 3.79 bn (9.1% below the 90-day average). Local investors were the sole net sellers. The index is up 22.63% YTD.

In the green: Edita Food Industries (+3.7%), Abu Kir Fertilizers (+3.1%) and Emaar Misr (+2.4%).

In the red: El Sewedy Electric (-2.3%), E-finance (-2%) and Telecom Egypt (-1.8%).

This publication is proudly sponsored by

7

PSYCHOLOGY

You might still have an imaginary friend

With the rising use of social media, people tend to develop parasocial relationships, a one-sided bond where a person could develop a connection or familiarity with someone they don’t actually know — usually a celebrity or an online personality. They develop very real emotional ties, and in extreme cases, can convince themselves that the relationship is reciprocal even though there’s no interactivity.

(Tap or click the headline above to read this story with all of the links to external sources.)

While social media makes this phenomenon more common, parasocial relationships aren’t new. Psychologists Donald Hortion and R. Richard Wohl came up with the term in 1956, when they realized that people were developing an “illusion of intimacy” with people they see on TV. “Prior to social media and the internet, people still talked a lot about admiring movie stars, athletes or some sort of public figure that they created a bond with,” according to clinical psychologist Adam Borland. “And it was more than just being a fan back then, too. Parasocial relationships are about having a really strong identification and sense of connection.”

Everyone’s experienced it at some point — it’s not uncommon, and it’s not necessarily alarming. For example, people can feel extreme sadness when watching a character die on a TV show, or trust a news anchor they’re familiar with, or buy products a social media influencer endorses, also out of trust. These are all examples of parasocial relationships, which are on a sliding scale and aren’t always as extreme as they are perceived in popular culture.

Celebrities get the long end of the stick: Having fans who have developed a parasocial relationship means big money for people in the public eye. Huge fanbases feed into critical business and PR strategies that make up for most of a celebrities’ revenues and often help shield them from criticism. For example, Taylor Swift, who has 94.4 mn monthly listeners on Spotify, will make an estimated USD 100 mn from the platform this year, but will be making almost USD 2 bn from touring and concert merchandise.

But why does it happen? There are a number of psychological theories that explain why we can develop a parasocial relationship. The social cognitive theory, which refers to how a person is drawn to and learns from the behaviors they observe, suggests that someone may become a fan of a celebrity or public figure who exhibits similar traits, or traits they admire. Because an empathetic connection has been established based on commonality, fans of a public figure often become entrenched in the collective identity, and can change their traits or beliefs to mirror the celebrity’s. A collective feedback loop makes it difficult to separate from the fanbase.

Attachment theory provides another explanation. How someone is introduced to relationships at an early age impacts how they continue to perceive relationships throughout their life. Those who have insecure attachment styles are able to find comfort in these one-sided relationships, where rejection simply does not exist, so people with this type of attachment style are more prone to developing parasocial relationships.

It’s not all bad: While it doesn't necessarily require a person to be socially isolated, parasocial relationships can actually create a sense of companionship for people who are lonely, in more ways than one. One study showed that parasocial relationships can be attributed for the creation of communities made up of likeminded individuals, or create inspiration and motivation for lifestyle changes — sometimes for the better, like going to the gym after seeing a celebrity’s workout routine.

But it’s also not all good: People are only exposed to a minor part of celebrities’ lives — typically the part influenced by sponsorships and business arrangements — and the willingness to believe whatever the person they’re bonded to says can lead to the spread of misinformation. Along with that, these relationships may sometimes get out of hand, disrupting a fan’s real-life relationships, and leading to more harmful extremes like obsession and stalking. Eminem’s song Stan — which originated the term stan as a synonym of a die hard fan — tells the story of an obsessed fan who spirals and commits crimes simply because the rapper wasn’t responding to his incessant fan mail. While the story of the song isn’t an exact depiction of real-life events, it was inspired by Eminem’s real experiences.

Then comes the breakup… A dark part of parasocial relationships is when they end, such as when a celebrity or a fictional character dies. The issue with parasocial breakups is that they cause genuine feelings of grief yet are harder to cope with because they aren’t exactly socially accepted. According to Kenneth J. Doka’s book Disenfranchised grief: New directions, challenges, and strategies for practice, these so-called breakups “incur a loss that is not or cannot be openly acknowledged, publicly mourned, or socially supported.”

A recent case of this would be the public mourning that took place over the death of One Direction’s Liam Payne — thousands of fans publicly shared their grief both in person, outside of the hotel where he passed away, and online for a singer they never knew personally. “I think it’s important to allow for that sense of mourning. Allow for the sense of loss, sadness and disappointment just as though it were a close personal relationship,” Borland said.

Understanding parasocial relationships provides insight into the complex ways modern media and technology shape our emotional connections. While these one-sided bonds can offer comfort, inspiration, and a sense of community, they also carry potential risks of misinformation, obsession, and emotional disconnection from real-world relationships.


DECEMBER

6 December-31 January (Friday-Friday): Cairo Art Fair at TAM Gallery.

13-22 (Friday-Sunday): Arkan’s Farmers Market.

19 December (Thursday): Bahaa Sultan and Mahmoud El Esseily concert at ElMalahy Arena.

19-21 (Thursday-Saturday): District 5’s Christmas Market.

20 December (Friday): Hakim and Ruby concert at Open Air Mall.

20 December (Friday): Tahqiq Akher El Sana theater show at Theatro Arkan.

21 December (Saturday): Nevine Allouba’s 33rd annual Christmas concert at Gomhouria Theatre.

21 December (Saturday): Musica Vocalis III at the Cairo Opera House.

21 December (Saturday): El Gezira Art Tour in Zamalek.

24 December (Tuesday): Ali Quandil standup comedy at Boom Room, Open Air Mall Madinaty.

25 December (Wednesday): Gaby Bishara Christmas Concert at Boom Room, Open Air Mall Madinaty.

25 December (Wednesday): Nile Techno with El Fashni at the Royal Club Mohamed Ali.

25 December (Wednesday): Gingerbread House Making Workshop at Brunch and Cake, Golf Central.

26 December (Thursday): Disco-Tech x Retrogroove at Cook's Club El Gouna.

26 December (Thursday): Gingerbread House Making Workshop at Brunch and Cake, Park st.

27 December (Friday): Afroto at El Malahy.

27 December (Friday): Tablet El Sitt at Theatro Arkan.

27 December (Friday): Gingerbread House Making Workshop at Brunch and Cake, Lakeview.

31 December (Tuesday): KAS:ST at Le Lac Du Caire.

31 December (Tuesday): Hisham Abbas and Hamid El Shari at CJC 610.

31 December (Tuesday): Ali Quandil’s 600th show at Theatro Arkan.

31 December (Tuesday): Sasha Carassi's One twenty Eight New Years eve party at Dahab Island.

JANUARY

18 January (Saturday): Founders Live Cairo at Creativa Innovation Hub.

29-31 January (Wednesday-Friday): The Fire of Anatolia at the Cairo Opera House.

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