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Out to brunch

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WHAT WE’RE TRACKING TONIGHT

FinMin to tap local Sukuk market with EGP 5 bn issuance on Monday

Good afternoon, friends. Happy last Thursday of 2025 and a very Merry Christmas to those of you celebrating today. We hope that you will all have a bit of time to slow down these last few days of the year. We’re not big on New Year’s resolutions, but the end of the year is always a good time to reflect.

This piece of good advice caught our eye recently: “95% of your day should be spent doing things that you like doing, you’re good at doing, around people that you like and are life enhancing.” These are aspirational words from Jim VendeHei, the co-founder of Axios and Politico, that we are taking to heart as we head into 2026.

It’s a slow news day both at home and abroad, but stay tuned for the outcome from the central bank’s final interest rate meeting of the year. Will we get the 100-200 bps rate cut that analysts are expecting? We’ll have coverage and all the details on the decision in our Weekend edition out tomorrow.

THE BIG STORY TODAY-

📍There are a couple of stories grabbing headlines this afternoon. The Finance Ministry is set to issue EGP 5 bn in local sovereign Sukuk next Monday, with settlement scheduled for Tuesday. This latest issuance brings the total raised under the current sovereign Sukuk program to EGP 20 bn, a target of EGP 200 bn by the end of the current fiscal year in June 2026. The three-year Sukuk Al-Ijara (sale and leaseback) instruments carry an annual yield of 21.22%, with coupons paid semi-annually.

ALSO- The Transport Ministry is in advanced talks to launch a series of mega-projects focused on shipbuilding and marine shipyards with the China State Shipbuilding Corporation (CSSC) and a consortium of Chinese maritime giants, a senior government source told Enterprise. A preliminary agreement is close to being finalized for large-scale projects, but the final investment figures are still under negotiation, according to our source. The move would further support Egypt’s bid to become a regional hub for maritime manufacturing and maintenance, according to our source.

More details: The projects are expected to kick off during the first half of next year, with a primary focus on the Red Sea ports. The negotiations also include Damietta Shipyard, which produces around 60% of Egypt’s ships and fishing vessels, in addition to shipyards in Port Said and Port Tawfik.

THE BIG STORY ABROAD-

🌐 It’s all quiet on the newsfront as businesses and markets take the day off for Christmas, but few business stories are still making the rounds:

  • US Stocks hit another high on Wall Street yesterday. Read more on Bloomberg.
  • Nvidia is set to acquire USD 20 bn worth of assets from AI chip designer Groq, marking its largest purchase ever. Read more on CNBC.

☀️ TOMORROW’S WEATHER- We’re in for a cool and cozy start to the weekend, with the mercury set to peak at just 22°C before cooling down to 13°C, according to our favorite weather app.

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AFTER HOURS: SCENE

The evolution of the brunch scene in Cairo

🥂 The concept of brunch is hardly new. The idea was first introduced by British writer Guy Beringer in a 1895 essay entitled Brunch: A Plea, where he encouraged readers to combine two meals into one — thus, the portmanteau “brunch” was coined. His argument was simple and to the point: on the weekends, you can allow yourself to wake up late and spend the afternoon feasting and fraternizing with friends. “In these hurrying, worrying, and scurrying days, the sweets of life are too often overlooked,” Beringer wrote in the 19th-century magazine Hunter’s Weekly.

Fast forward 130 years. Life is exponentially more “hurrying, worrying, and scurrying,” and brunch has evolved into something that Beringer might scarcely recognize. What was once a wholesome meal is now a raucous event often accompanied by DJ sets and unlimited refills on drinks like prosecco and mimosas, sparking the term “bottomless brunch.”

The trend has recently caught on “in Egypt,” but (naturally) we’ve put our own spin on it. Not big on hard starts and stops, the Om El Donia version of the bottomless brunch begins much later than it would elsewhere, usually between 3-5 pm, sometimes stretching on till 10-11pm (possibly even later during the summer months), extending the meaning of “bottomless” to its timeframe as well.

Dress codes are often defined in vague terms like “weekend chic” or “dress to impress” — another bottomless: the interpretation. The venues are upscale — think Kazoku, Pier 88, or Sachi — and the price tag is not small, typically EGP 3-5k per person, depending on the menu, the entertainment, and the occasion.

Now that we are in peak festive season, the brunch scene in Cairo is as crowded as our highways. Between private gatherings in homes — which hosts have also branded as “brunches” instead of what was once called dinners, lunches, or plain old Christmas parties — and the brunch events held at popular Cairo nightspots, it’s hard to keep up.

“People are really embracing the brunch format, not just because it’s trendy, but because they find the timing convenient,” Selma Aboul Dahab, chief commercial and operations officer at Quintessentially, tells us. As a global lifestyle management group, Quintessentially primarily caters to business executives, many of whom are no longer interested in late nights out. They recently held a well-attended members’ brunch at Kazoku, where the festivities began at sunset and continued until well into the night. “Brunches allow you to socialize and network and still be home early enough to relax, put your feet up, and enjoy your favorite show before going to bed at a reasonable hour,” Aboul Dahab added.

Quintessentially has partnered with food entrepreneur Omar Fathy, founder of Eatery and Kokomo, on The Business Brunch, a monthly after-work networking event held at Kokomo in District 5 from 5 to 10pm. The event usually includes 200-300 professionals, many of whom already know one another, but the casual setting allows them to talk shop in a relaxed atmosphere. Attendees are either invited or gain access with an EGP 3.3k ticket.

But brunch isn’t just for the business set, Cairenes of all ages are embracing the culture. American food sociologist Farha Ternikar — author of the book Brunch: A History — argues that brunch continues to be a way to display cultural capital. Even if young professionals are not yet high income earners, they use brunch to show that they are cosmopolitan and have taste. Ternikar is speaking specifically about the urban “creative class” in the US, but it’s no different here at home.

The Instagramability of colorful food and drink is definitely a contributing factor to the popularity of brunches. As more brunch events fill social media feeds with beautiful photos, of beautiful people, in beautiful venues, the more popular, commercially viable and socially valuable these events become, providing a wider scope for hotels, restaurants, and high-end caterers who are developing new menus and concepts specifically for brunch.

But like any trend that starts to reach fever pitch, there’s always backlash. They’re loud, they’re noisy, they’re over-priced, and they’re not conducive to intimate conversations. Not to mention the fact that people are photographing their food and each other more than they are actually eating, and the local irony of calling an event a brunch when it’s dark outside is mind-boggling. All common critiques from those who are not into the trend.

Was the legendary Anthony Bourdain perhaps on to something when he said, “Brunch is a horrible, cynical way of unloading leftovers and charging three times as much as you ordinarily charge for breakfast”?

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Under the Lamplight

Housekeeping is a not-so-warm winter read

💡 When the air turns chillier and the skies grow cloudier, the bookworms among us often seek warmth in heartwarming, cozy reads — or otherwise in a true winter novel like Marilynne Robinson’s Housekeeping. The 1980 Pulitzer finalist weaves intricate prose and a poetic heaviness, transforming a seeming coming-of-age tale of two sisters into an urgent exploration of survival and loss in the relentlessly cold and isolated town of Fingerbone.

Within the walls of Housekeeping, Robinson writes the pain and beauty of parenthood and childhood, setting them against — and alongside — the vastness of nature. Robinson projects emotional landscapes onto physical ones — plants, trees, birds, and environmental forces.

“Their lives spun off the tilting world like thread off a spindle.” Robinson’s lyricism and the pastoral language saw the New York Times describe the novel as one that “reads as slowly as poetry… The language is so precise, so distilled, so beautiful that one doesn’t want to miss any pleasure it might yield up to patience.” Housekeeping feels grounded, but quietly magical and immersive.

Housekeeping was awarded the PEN/Hemingway Award for best first novel when it debuted, also making the top 100 in the Guardian list of the greatest novels of all time that year, and Time’s 100 best English-language novels published since 1923. The success of Robinson’s first novel, as well as her later works, is a testament to her quiet but unyielding understanding of the human condition.

WHERE TO FIND IT- You can read Housekeeping as an eBook on Amazon and Kobo.

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Sports

We’ve got another sports-packed weekend in store for us

Another Thursday, another packed sports agenda for the weekend. From the Pharaohs’ upcoming match in AFCON 25 to Al Ahly and Zamalek’s face-off and a list of Premier League fixtures, we’ve got a lot to look forward to.

Today’s fixtures

Four Egypt Capital Cup matches are on our radar today as part of the third round, headlined by Zamalek vs. Smouha at the Mokawloon El Arab Stadium at 8pm.

Where to watch: ON Sport 1.

Also on our radar:

  • Al Masry vs. Haras El Hedoud (5pm) — ON Sport 1;
  • El Gouna vs. Al Bank Al Ahly (5pm) — ON Sport 2;
  • Pyramids vs. Ismaily (8pm) — ON Sport 1.

Tomorrow’s fixtures

The Pharaohs take on Bafana Bafana: Our national team is gearing up for a thrilling and challenging encounter against South Africa at the Adrar Stadium in Agadir, Morocco at 5pm. This marks the second round of the Africa Cup of Nations group stage.

Where to watch: BeIN Sports Max 1.

Also in AFCON:

  • Angola vs. Zimbabwe (2:30pm);
  • Zambia vs. Comoros (7:30pm);
  • Morocco vs. Mali (10pm).

Where to watch: BeIN Sports MAX 2.


The Red Devils vs. The Magpies: Tomorrow, Manchester United and Newcastle face off in a matchweek 18 fixture of the English Premier League at 10pm.

Where to watch: BeIN Sports 1.

Saturday’s fixtures

Super Saturday returns with a host of exciting Premier League fixtures, headlined by Arsenal vs. Brighton at 5pm. The Gunners are fighting to maintain their spot at the top of the table with a W.

Where to watch: BeIN Sports 1.

The Reds vs. Wolves: Liverpool takes on Wolverhampton at 5pm as they look to extend their victory streak. After a slightly rocky start to the season, two consecutive Ws have pushed the Reds up to 5th place.

Where to watch: BeIN Sports 2.

Other Premier League fixtures on our radar:

  • Nottingham Forest vs. Man City (2:30pm);
  • West Ham vs. Fulham (5pm);
  • Brentford vs. Bournemouth (5pm);
  • Burnley vs. Everton (5pm);
  • Chelsea vs. Aston Villa (7:30pm).


At home, Al Ahly goes head-to-head with Telecom Egypt in the Round of 32 of the Egypt Cup at the Al Salam Stadium at 5pm.

Where to watch: ON Sport 1.


In AFCON, we’re looking forward to the Tunisia vs. Nigeria clash in the second round of the tournament at 10pm.

Where to watch: BeIN Sports Max 1.

Other AFCON fixtures on our radar:

  • Benin vs. Botswana (2:30pm);
  • Senegal vs. DR Congo (5pm);
  • Uganda vs. Tanzania (7:30pm).

This publication is proudly sponsored by

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Mark Your Calendar

Saint Levant takes El Gouna into 2026

🎉 Celebrating the new year in style? You’re in luck — Saint Levant is landing at El Gouna’s Cubix for a special NYE performance alongside DJs Notre Dame and WASS on Wednesday, 31 December. Tickets are available on TicketEgypt.

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GO WITH THE FLOW

What the markets are doing on 25 December 2025

The EGX30 fell 0.6% at today’s close on turnover of EGP 5.2 bn (4.8% below the 90-day average). Local investors were the sole net buyers. The index is up 38.7% YTD.

In the green: Juhayna (+3.5%), Orascom Construction (+3.1%), and Valmore Holding -USD (+2.6%).

In the red: Qalaa Holdings (-2.2%), CIB (-1.8%), and Raya Holding (-1.8%).


🗓️ DECEMBER

6 December – 15 February (Saturday-Sunday): Cairo Prints at Cairopolitan in Garden City.

12 December – 15 January (Friday-Thursday): Cairo Art Fair at TAM Gallery, Abu Rawwash.

21-31 December (Sunday-Wednesday): The Stadium at District 5.

25 December (Thursday): Tul8te at El Arena, El Malahy.

25-26 December (Thursday-Friday): Umm Kulthum Musical at The Theater, Movenpick, 6th of October City.

25-27 December (Thursday-Saturday): Oliver by Fabrica S2 at Theatro Arkan.

26 December (Friday): Bahaa Sultan at the Hilton Cairo Grand Nile.

27 December (Saturday): Saad El Oud at the Hilton Cairo Grand Nile.

31 December (Wednesday): Saint Levant, Notre Dam, and Wass at Cubix, El Gouna.

31 December (Wednesday): Medhat Saleh at Theatro Arkan.

31 December (Wednesday): New Capital Countdown Festival at Capital Arena.

2026

JANUARY

January: Al Rawi Awards submissions open.

7 January (Wednesday): Coptic Christmas Day.

16 January (Friday): Amr Diab concert at Al Manara Arena.

25 January (Sunday): January 25th Revolution / National Police Day.

30 January (Friday): Cairo Marathon normal registration ends.

FEBRUARY

6 February (Friday): Cairo Marathon at Heliopolis, Merryland Park.

17 February (Tuesday): First day of Ramadan (TBD).

MARCH

20 March (Friday): Eid Al-Fitr (TBD).

APRIL

13 April (Monday): Sham El Nessim.

25 April (Saturday): Sinai Liberation Day.

MAY

1 May (Friday): Labor Day.

26 May (Tuesday): Arafat’s Day.

JUNE

16 June (Tuesday): Islamic New Year.

30 June (Tuesday): June 30th Revolution.

JULY

23 July (Thursday): July 23rd Revolution 1952.

AUGUST

25 August (Thursday): Prophet Muhammad’s Birthday.

OCTOBER

6 October (Tuesday): Armed Forces Day.

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