Oysters for climate change?

Sunday, 22 Oct 2023

Oysters for climate change?

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Shaping the future of education in Egypt

Today at a glance

The Big Story Today

Pachin voluntary delisting kicks off tomorrow.

INSIDE INDUSTRY

A look at industrial zone expansion in Egypt.

FOR YOUR COMMUTE

Oysters to help with climate change?

ON THE TUBE TONIGHT

R.L Stine fans will love Fear Street.

Sports

Watch Future take on Pyramids tonight.

Under the Lamplight

Read Politics on the Edge if you fancy a bit of Brit politics.

WHAT WE’RE TRACKING TONIGHT

Pachin voluntary delisting starts tomorrow

Good afternoon, ladies and gentlemen, and welcome to the start of another workweek. It’s slow moving so far on the home front, with regional updates broadly driving the news cycle.

**PSA- Some of our favorite homegrown businesses are doing their part to support the Palestinian cause: Osana in Maadi is donating 100% of its proceeds from all classes and treatments today to the Egyptian Red Crescent to send medical aid and food to Gaza. Meanwhile, BRGR is donating 100% of its proceeds from pancake sales across its branches from today through Wednesday to support Gaza.

THE BIG STORY TODAY

Pachin voluntary delisting kicks off tomorrow: Minority stakeholders will start selling their shares in Paint and Chemical Industries (Pachin) tomorrow in response to the latter’s bid to buy back its publicly-traded 24 mn shares for EGP 39.8 each, according to an EGX news bulletin. The deadline for responding to the offer is set for 2 November. This follows the new Emirati owners’ plan to go private with the company, which was greenlit by the board in September. National Paints Holding acquired more than 80% of the formerly state-owned company in a mandatory tender offer (MTO) in May.

THE BIG STORY ABROAD

Updates on the Israeli-Palestinian conflict continue to lead the conversation in the international press:

Israel warns Hezbollah that Lebanon could be dragged into the conflict as anti-tank missiles were reportedly fired from Lebanon yesterday. (Bloomberg)
The Israeli air force attacked Aleppo and Damascus airports in Syria, while attacks on US military bases in Syria and Iraq also increased. (Bloomberg | Associated Press)
Israel began attacking the West Bank as well, striking a mosque it alleges was used by militants. (Associated Press)
The UN said humanitarian aid making its way to Gaza isn’t enough, as 20 aid trucks made their way into the stricken Gaza on Friday through the Rafah border crossing. (Washington Post)

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

S&P Global Ratings has become the second rating agency this month to downgrade our sovereign credit rating,announcing on Friday that it had lowered its long-term rating to B- from B on the back of the FX shortage and rising uncertainties about debt sustainability.
Arab leaders condemn Israeli assault on Gaza, Western double standards: Arab leaders condemned Israel’s war against Gaza in the strongest terms yet at yesterday’s international summit in Cairo and accused Western countries of selectively applying international law to the conflict.
Egypt inks debt swap agreement with China: The International Cooperation Ministry inked a memorandum of understanding on a debt swap with the China International Development Cooperation Agency (CIDCA) at the Belt and Road Forum on Thursday.

*** It’s Inside Industry day —your weekly briefing of all things industrial in Egypt. Inside Industry focuses each Sunday on what it takes to turn Egypt into a manufacturing and export powerhouse, ranging from initial investment and planning to product distribution, through to land allocation to industrial processes, supply chain management, labor, automation and technology, inputs and exports, regulation and policy.

In today’s issue: We take a look at the expansion of industrial zones in the country.

?️ TOMORROW’S WEATHER- Expect a high of 31°C during the daytime and then cooling to 23°C in the evening, according to our favorite weather app.

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EGX National Paints Holding Pachin WHAT WE’RE TRACKING TONIGHT

FOR YOUR COMMUTE

Oysters can help protect coasts from storms + Pig-to-primate kidney transfer brings us closer to an alternative for human transplants

Oysters are making a comeback — but not to your platters. Oysters are being used globally as a storm barrier to help protect shorelines from storm surges and erosions, according to National Geographic. With extreme weather conditions and the effects of climate change impacting shorelines, The Bn Oyster Project was introduced in 2014 aiming to reintroduce one bn oysters to New York harbors by 2035. Oysters can filter large amounts of water and take in carbon, which means mitigating climate change and protecting from flooding. Places around the world where oysters play an important role in their economy have started on restoration projects. The process of restoration includes curing oysters shells at least once a month for a year to be reused and seeded with baby oysters to be placed in sites where reefs are to be rebuilt.

Oyster restoration can help, but it is not a bonafide solution. While it can’t solve all issues that affect climate change it can make an impact if combined with a reduction of “…carbon emissions and water pollution and [to] maintain a livable window for global temperatures, then oysters can play a huge role helping mitigate the impacts of coastal change,” Kate Orff, Billion Oyster Project board member, tells National Geographic.

Scientists havegenetically modified pigs to make their kidneys more viable candidates for human transfer, according to a recent study published in Nature and cited in CNN.This new discovery came to light after researchers reportedly conducted a study, which was the largest of its kind, in using genetically-modified Yucatan pigs, and transferring their kidneys to primates. They claim that with the gene modification, the recipient needed less immuno-suprressant medications and was able to accept the new organ. The result? The primates lived as long as two years, as opposed to 50 days, according to the study’s findings.

What does this mean for humans? If the studies continue to succeed there can be light at the end of the tunnel for kidney donor candidates who often die waiting for a transplant. In the US alone, over 900k individuals are currently awaiting a kidney transplant, and 3-5 years is the average waiting time for receiving a donated kidney from a decedent. Meanwhile, pigs — and Yucatan pigs in particular, as their weight is close to an average American woman and their organs are close in size — are a close contender, and their quick reproduction ensures that there will be plenty of chances for sufferers to have a kidney. Furthermore, the gene modifications performed on the pigs, one of which includes seven human genes, allows less rejection for the recipient and ensures that they can take a limited amount of immuno-suprressant medications to survive with the new organ.

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Climate FOR YOUR COMMUTE science

ENTERPRISE RECOMMENDS

Fear Street: A trilogy based on the R.L. Stine Goosebumps books

? ON THE TUBE TONIGHT-
(all times CLT)

Looking for a way to kickstart Spooky Season? Come on down to Fear Street. The 2021 trilogy received critical acclaim for being an ambitious experiment of the horror genre, and a successful one at that. Based on the books of R.L. Stine of Goosebumps fame, it is a deliciously gorey and plot-driven mix between Scream and Stranger Things, as well as a few other classics. It is set in the sister towns of Sunnyvale and Shadyside, who share mutual contempt for each other. Every few decades, Shadyside experiences a mass murder, perpetrated by a seemingly normal resident who just snaps. It starts off with Deena (Kiana Madeira) is a cynical high school student who discovers that a 17th-century witch, Sarah Fier, is behind the malice plaguing the town. Time rewinds as the movies progress, helping us, and Deena, get to the bottom of why Sarah Fier holds a grudge against Shadyside that lasted centuries.

⚽ The 4th week of the Egyptian League continues with three matches today, starting with the key match between Future and Pyramids at 7pm, meanwhile El Ismaili will take one Pharco during the same hour. Meanwhile, the Arab Contractors and Zed Football Club will face-off at 4pm today.

In La Liga: Round 10 at 10: Barcelona hosts Athletic Bilbao in round 10 of the Spanish League at 10pm tonight, as it aims to bridge the gap, which has widened to four points, with group leaders Real Madrid. Girona, La Liga’s wildcard this season, hosts Almeria at 5:15pm, and can benefit from the three points to meet Real Madrid’s lead. Finally, Villarreal will play Deportivo Alaves at 7.30pm.

Catch these teams playing in the major European leagues tonight:

Aston Villa v West Ham (Premier League, 6:30pm)
Milan v Juventus (Serie A, 9:45pm)

African Super League matches to see:

Mazembe (Democratic Republic of the Congo) v Esperance (Tunisia) (6 pm)
Enyimba (Nigeria) v Wydad (Morocco) (9 pm)

? OUT AND ABOUT-
(all times CLT)

Text.exe (a play without actors), an interactive theater performance is playing as a part of the Downtown Contemporary Arts Festival (D-Caf) has kicked off and will continue until Sunday, 5 November. The festival is taking place in several places and art centers in the downtown area. You can check the events and buy the tickets through D-CAF’s website.

Lab coats and goggles on for Kidzania’s Halloween Adults immersive party with Lab of Horrors on Thursday, 26 October from 6-11pm. Tickets are not on sale yet but stay tuned for more information on their Facebook page.

Music enthusiasts, this one’s for you: The annual Cairo International Jazz Festival is happening at AUC’s Tahrir campus from Thursday, 26 October to Friday, 3 November. For more information contact them on their page.

We’ve got you covered this Halloween:Cairo Jazz Club is hosting a Haunted Mansion night of eeriness and hit tunes on Friday, 27 October. Costumes are mandatory and you can reserve your spot on their Facebook page.

Get your spook on at KMT House’s Creepy Carnival on Saturday, 28 October from 10 am-10pm. Get your tickets from Ticketsmall.

DJs Kygo, Tiësto, Kungs, and Frank Walker are performing on Saturday, 28 October at the Giza Pyramids. The concert will be part of the next edition of the four-day Palm Tree Music Festival (PTMF) which will be held from Thursday, 26 October until Sunday, 29 October.

The Russian Tchaikovsky Symphony Orchestra is coming to Egypt for the first time, with three concerts scheduled in Cairo and Alexandria. The Cairo concerts are scheduled for Sunday and Monday, 5 and 6 November at the Cairo Opera House in Zamalek, while the Alexandria concert will follow on Tuesday, 7 November at Sayed Darwish Theater. You can book your tickets for the concerts from here, here and here.

Don’t miss Tamer Ashour at Sheikh Zayed’s Zed Park on Friday, 10 November at 8pm. Tickets are available on TicketsMarche.

Russell Peters is coming to Egypt for the second time: He will be performing on Saturday, 11 November at the Marquee Theatre, Cairo Festival City (CFC). The show will start at 8pm.

The Masr El Gedida Carnival is back and will take place in Merryland Park on Saturday, 25 November at 10am.

? UNDER THE LAMPLIGHT-

Politics on the Edge: A revealing and scandalous memoir by Rory Stewart. You may know Stewart as a former diplomat, MP, and Harvard lecturer, and his diverse career in diplomacy, politics, and podcasting. However, this book showcases his own contradictions, with a mix of confidence and social awkwardness. As he speaks to us through his memoir, Stewart does not shy away from criticizing his former colleagues — with one Boris Johnson receiving his harshest criticism. He also discloses his particular critique of Liz Truss, describing her as adverse to caution and detail, and how, on the other hand, he holds a favorable view of Theresa May and supported her as prime minister. Other insights include his love for his former constituency of Penrith, in Cumbria’s Eden Valley and his disappointment in leaving the Conservative Party. Despite his independence, Stewart further shared that he found running as an independent candidate in the London Mayoral election a difficult endeavor. Whether he is sharing his opinion on his peers, or reflecting on his political journey, this book will appeal to anyone with a keen interest in UK politics.

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GO WITH THE FLOW

What the markets are doing on 22 October, 2023

The EGX30 rose 2.4% at today’s close on turnover of EGP 2.7 bn (20.6% above the 90-day average). Foreign investors were net sellers. The index is up 51.6% YTD.

In the green: Ezz Steel (+9.3%), TMG Holding (+8.1%) and Eastern Company (+6.9%).

In the red: Juhayna (-1.0%) and E-Finance (-0.3%).

Tags:

EGX Go with the Flow

Our weekly look at the issues, trends, and policies that are shaping Egypt's manufacturing industries.

Published every Sunday in EnterprisePM.

Read Inside Industry

INSIDE INDUSTRY

A look at industrial zone expansion in Egypt

A look at industrial zone expansion in Egypt: An industrial zone is an area that is used for industrial development. Freezones and industrial zones differ in the regulations that govern them, including those related to taxation and customs rules.

Where Egypt’s industrial zones are: There are industrial zones across the country in different governorates, including Abu Rawash in Giza, Al Mahalla in Gharbia, Ataka in Suez, Mut Al Dakhla and Al Kharga in the New Valley, Al Kawthar and Tahta in Sohag, and Rubiky in Cairo. Qalyubia, Beheira, Aswan, Menoufia, Ismailia, Marsa Matrouh, Alexandria, Kafr El Sheikh, Port Said, and North Sinai also host several industrial zones, according to the Trade and Industry Ministry website.

One industrial zone is getting a freezone: In 2020, the Madbouly Cabinet agreed to set up a private freezone in the 10 Ramadan industrial zone. The freezone is part of expansion plans from the New Urban Communities Authority (NUCA), with NUCA developing a 500 acre plot of land on which it plans to establish a public freezone in 10 Ramadan, according to a General Authority for Freezones and Investment source Enterprise spoke with.

Why is this important? Freezones ensure the availability of industrial workforce, ease of access to raw materials, and overall facilitate processes in the export market. Regulations to export goods out of freezones are simpler, which allows companies to ultimately “push more goods out the door,” Mohamed El Gebely (LinkedIn), former general manager of the International Company for Agriculture Production and Processing (ICAPP) told Enterprise. For export-focused players, such as ICAPP, freezones allow a quicker process of moving out goods, which is essential to achieving on-time delivery. This allows efficiency in a company’s supply chain, which is essential since the business model of an export company incorporates that the process should be as quick as possible, El Gebely told us.

Egypt has public and private free zones: Whether the business is under state administration, or is a single investment project, being part of a freezone grants a business many advantages, including exemption from various taxes. Regulations for public and private freezones ensure the same privileges and incentives, according to Ahram Online.

There are still a handful of things that need to happen to ensure the success of the new freezones in Tenth of Ramadan, including setting up a free storage zone, Tenth of Ramadan Investors Association member Sayed El Barhamtoushy told Enterprise. This means that the entry of goods is included, and that the factory withdraws only the quantities it needs and pays the fees on them, making the burden of import costs — exacerbated by our ongoing FX shortage — easier to cope with, El Barhamtoushy said. The government also needs to address the ongoing issue with delayed land allocation for industrial investors, head of the Tenth of Ramadan Investors Association Samir Arif told Enterprise.

Your top industrial development stories for the week:

China’s largest cable manufacturer to expand SCZone factory: Chinese cable manufacturer Hengtong will invest USD 18 mn to expand its factory in the TEDA zone.
Sidpec partners with Nigerian firm on gas cylinder factory: Sidi Kerir Petrochemical (Sidpec) signed an agreement with Nigerian gas infrastructure company Rungas to set up a factory for manufacturing LPG cylinders in Egypt.
China Glass will invest USD 500 mn to establish a glass factory: The factory will produce 243.2k tonnes of tempered glass and 235k of rolled glass every year and export 80% of total output.
Xinxing Ductile Iron Pipes will open a USD 145 mn iron pipe factory: The first phase of the project will produce 250k tons of ductile iron pipes earmarked for export per year.
Shandong Tianyi Chemical wants to invest USD 110 mn in a new bromine factory: The factory will export all 140k tons of bromine produced per year.

Tags:

Industrial Zone INSIDE INDUSTRY Manufacturing New Urban Communities Authority

THE ENTERPRISE ENTERTAINMENT CALENDAR

12 October-5 November: D-CAF (Downtown Contemporary Arts Festival), Downtown, Cairo.

22 October (Sunday): Every Street, A Story art exhibition at Mashrabeya Gallery.

23 October (Monday): Epoque Quartet concert at Room Art Space and Cafe.

24 October (Tuesday): Make Friends in Cairo at Consoleya.

24 October-26 December (Every Tuesday): Game Night at Tap East.

24 October (Tuesday) Voices for Freedom fundraiser at Stella Compound.

25 October (Wednesday): El Waili, Afroto & Jaadu concert at Cairo Jazz Club.

26 October (Thursday): “Lab or Horrors” Adult Night at Kidzania.

26 October (Thursday): Saad ElOud concert at Arkan Plaza.

26 October - 3 November (Thursday-Friday): The 15th Annual Cairo International Jazz Festival at AUC’s Tahrir campus.

26 October-5 November (Thursday-Sunday): Cairo Jazz Festival at AUC Tahrir.

26 October (Thursday): ABBA Costume Party at Room Garden City.

27 October (Friday): Haunted Mansion Night at Cairo Jazz Club.

27 October (Friday): Cairo Vintage Souq at The Greek Campus.

27 October (Friday): Night Hiking Adventure in Wadi Degla.

28 October (Saturday): Wall of Sound: Dark Mode Experience at Cairo Jazz Club 610.

28 October (Saturday): Creepy Carnival at KMT House.

28 October (Saturday): DJs Kygo, Tiësto, Kung and Frank Walker concert, Giza Pyramids.

31 October (Tuesday): Halloween Costume Party at Cairo Jazz Club.

NOVEMBER

4 November (Saturday): Edward Said Memorial Lecture at AUC Tahrir.

4 November (Saturday): Ahmed Helmy interview with Mahmoud Saad and Wust El Balad Band concert with George Kolta Orchestra at Arkan Plaza.

5-6 November (Sunday-Monday): The Russian Tchaikovsky Symphony Orchestra concerts, Cairo Opera House, Zamalek.

7 November (Tuesday): The Russian Tchaikovsky Symphony Orchestra concert, Sayed Darwish Theatre.

10 November (Friday): Tamer Ashour’s concert, Zed Park Sheikh Zayed.

11 November (Saturday): El Gouna Half Marathon 2023, El Gouna.

11 November (Saturday): Russell Peters stand-up comedy show, The Marquee Theatre, Cairo Festival City Mall.

14-15 November (Tuesday-Wednesday): Destination Africa Expo at Royal Maxim Palace Kempinski.

15-24 November (Wednesday-Friday): Cairo International Film Festival (CIFF).

16 November (Thursday): ELFIT Sports and Fitness Games at New Capital Sports City.

25 November (Saturday): Masr El Gedida Carnival at Maryland.

26 November (Sunday): Souad Massi concert at Tap East.

DECEMBER

1 December (Friday): Cairo Fun Festival by Bike Zone Egypt in Heliopolis.

EVENTS WITH NO SET DATE

2023: The inauguration of the Grand Egyptian Museum.

Q1 2024: Opening of the newly developed Pyramids Plateau in Giza.

2024

JANUARY

7 January (Sunday): Coptic Christmas.

25 January (Thursday): Revolution Day.

APRIL

6 April (Saturday): Coptic Easter.

9 April (Tuesday): Eid El Fitr (TBC).

25 April (Thursday): National holiday in observance of Sinai Liberation Day (TBC).

MAY

1 May (Wednesday): National holiday in observance of Labor Day (TBC).

6 May (Monday): Sham El Nessim (TBC).

JUNE

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.

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