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Thursday, 17 Oct 2024

What We’re Tracking Tonight
For Your Commute
Enterprise Recommends
Go With The Flow
Parenting
Enterprise Entertainment Calendar

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Today at a glance

1

The Big Story Today

Unnamed bidder eyes 49% of Raya Foods for USD 40 mn.
2

PARENTING

Parenting is more complicated — and more rewarding — than ever.
3

FOR YOUR COMMUTE

Say goodbye to your unwanted subscriptions.
4

FOR YOUR COMMUTE

Your new Kindle will have a color display.
5

ON THE TUBE TONIGHT

Are you ready for Vince McMahon?
6

Sports

Looking forward to Saturday’s Premier League matches.
7

OUT AND ABOUT

Pick a performance this weekend.
8

Ears to the Ground

Dishing out laughs and great food.

Thursday, 17 Oct 2024

What We’re Tracking Tonight
For Your Commute
Enterprise Recommends
Go With The Flow
Parenting
Enterprise Entertainment Calendar
1

WHAT WE’RE TRACKING TONIGHT

Unnamed bidder wants 49% of Raya Foods for USD 40 mn

Good afternoon, friends, and a very happy Thursday to you all. We’re gearing up for the weekend after a long week of headlines and will see you again on Sunday.

THE BIG STORY TODAY

Food sector acquisitions just keep coming: Raya Holding has received a binding offer to acquire up to 49% of its wholly-owned subsidiary Raya Foods for USD 40 mn, the parent company said in a disclose to the EGX today (pdf), noting that Raya Foods typically contributes c. 5% of the group total revenues. Raya stopped short of disclosing the name of the bidder.

Market Reax: Raya Holding’s share jumped 12.8% to a record high of EGP 3.44 at today’s close on the back of the news.

ICYMI- The new offer comes two days after another major bid in the food sector from Denmark-based Arla Foods at EGX-listed Domty, which saw the dairy producer’s shares jump 40% since Tuesday’s session.

THE BIG STORY ABROAD

European Central Bank is widely expected to announce the third interest rate cut of 2024 sometime today, CNBC reports. The change is assumed to be in response to EU policymakers marking diminished inflation risks — with price markups rising only to 1.8% last month opposed to the projected 2% seen for the past three years — as well as a weakening growth outlook that now projects a 0.8% increase in GDP in comparison to the previous 0.9% estimate. The ECB pinpoints manufacturing weakness in Germany and a looming fiscal consolidation project in France as major factors. If the cut is implemented, it would mark the first time in 13 years that the ECB reduced rates at consecutive meetings.

It’s a totally different story in our neck of the woods, as all of the analysts and economists we surveyed earlier this week for our EnterpriseAM poll see the MPC holding rates steady at its meeting later today as the central bank works to prioritize controlling inflation over any monetary policy easing. Analysts we spoke to pointed to sticky inflation, current investor wariness of Egyptian debt, and Israel’s war on its neighbors endangering Egypt-bound gas flows and ramping up the price of energy imports, as well as a seasonal rise in educational expenses as factors that could cause inflation to persist during 4Q 2024 — cementing the expectations of the ongoing tightening cycle carrying over to the first quarter of next year.

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

  • World Bank revises downward our growth outlook for FY 2024-2025: The international lender sees the Egyptian economy growing at a 3.5% clip during the fiscal year 2024-2025, trimming its outlook 0.7 percentage points from the 4.2% forecasted in June.
  • United Bank’s IPO is in motion: United Bank has officially submitted a request to list its shares on the EGX as the central bank pushes ahead with its plan to sell a stake in the lender in an initial public offering before the end of 1Q 2025.
  • The government is preparing for all scenarios: Prime Minister Moustafa Madbouly explained at his weekly press conference that the government is preparing for all potential scenarios in the region amid escalating tensions around Israel’s war on Gaza and Lebanon.

☀️ TOMORROW’S WEATHER- Cooler temperatures are stable, with the mercury expected to reach a high of 31°C and a cooler low of 21°C in the capital, according to our favorite weather app.

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2

FOR YOUR COMMUTE

Say goodbye to your unwanted subscriptions

Canceling subscriptions is about to get a lot easier, thanks to the US Federal Trade Commission. The FTC has stepped in with the “ click-to-cancel ” rule that’s set to address growing frustrations over confusing or difficult subscription policies, by making the subscription cancellation process require the same amount of clicks as signing up, NPR reports.

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

No more endless searching for hidden cancel buttons or jumping through hoops just to escape that membership you barely use. Now, businesses will have to make it as simple to cancel as it is to sign up. This new rule means companies won't be able to trap you in endless membership cycles without a clear exit route. The new rule will be in full swing in six months.

If companies fail to comply, a hefty penalty and consumer refunds await them. The commission has already gone after major players like Amazon, accusing them of enrolling customers in Prime memberships without proper consent and making cancellations difficult.

The rule couldn’t have come in a better time, as more subscription-based services pop up, making it difficult for consumers to track each one. A study by C+R Research found that consumers often underestimate how much they spend on subscriptions, with many forgetting about unused services.

E-readers, rejoice — Amazon has just introduced a lineup of Kindles, including the first Kindle in color. Standing out from the regular Kindle we all know and love — even if new and improved — the Kindle Colorsoft incorporates color to the user interface.

Book covers can finally be done justice, but that’s not all. Users can add colored highlights to the books they’re reading, making organizing their thoughts much easier. The creators have somehow kept the easy-on-the-eyes display that we much appreciate, and there is an option to switch between standard and vibrant colors based on preference. The device is also waterproof, and comes with wireless charging and a battery that can last up to eight weeks.

Scribble away. The new Kindle Scribe adds note-taking features to the classic Kindle. The paper-like texture of the screen and the finely crafted Premium Pen mimic the sensation of writing on a real notebook with a real pen. There’s even a soft-tipped eraser that Amazon explained would make you “think you have to brush the screen clean after erasing.” This model also has a built-in AI feature that allows users to summarize pages of notes into bullet points and refine notes into a script font.

An upgrade on the classic. The new version of the best-selling Kindle Paperwhite is the fastest of its kind. The company boasts 25% faster page turns and a responsive scroll. It also has the highest contrast ratio across all Kindles due to its use of an oxide thin-film transistor. We’re also seeing a larger 7-inch display and an even thinner body. The Kindle Paperwhite Signature Edition adds optional wireless charging, auto-adjusting lights, and 32GB of storage — compared to 16GB in the standard version.

Pocket sized. The entry-level Kindle is the most compact version of the device and now comes in a new color: Matcha. Small enough to fit in a back pocket, this device shares the same glare-free display among other features on the Kindle Paperwhite.

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3

ENTERPRISE RECOMMENDS

Are you ready for Vince McMahon?

? ON THE TUBE TONIGHT-
(all times CLT)

A closer look at Vince McMahon. Mr. McMahon is a six-part docu-series following the long-time head of WWE. The episodes explore his transformation of professional wrestling from a regional spectacle into a global phenomenon, for better or worse.

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

The series adopts a classic sports-docuseries format, blending archival footage with contemporary interviews. We’re introduced to McMahon’s impact on the industry through a montage of interviews featuring wrestling legends like Hulk Hogan, Dwayne “The Rock” Johnson, and John Cena.

Although the series touches on controversies, it often frames these moments within a triumphant narrative. It celebrates McMahon’s rise while glossing over the darker aspects of his tenure, including serious allegations of misconduct. There seems to be an attempt to preemptively manage the narrative surrounding McMahon’s scandals, showcasing his accomplishments while minimizing the gravity of the allegations.

WHERE TO WATCH- You can watch the docu-series on Netflix or watch the trailer on YouTube (runtime: 2:16).

⚽ There are no matches to tune into today, but the major European leagues return on Saturday to spice up the weekend.

The eighth round of the Premier League kicks off on Saturday with seven matches, starting off with Tottenham and West Ham going head-to-head at 2:30pm, and ending with Arsenal facing off against Bournemouth at 7:30pm. The Gunners are currently in third place on the leaderboard, and hope to temporarily close the one point gap by securing a victory against the Cherries.

The rest of the Saturday’s matches all start at 5pm:

  • Ipswich Town vs. Everton.
  • Fulham vs. Aston Villa.
  • Manchester United vs. Brentford.
  • Newcastle vs. Brighton.
  • Southampton vs. Leicester City.

Don't forget to join the Enterprise Fantasy League by using this code dlrxz4.

The Merengues have their eyes on first place. Celta Vigo will host Real Madrid at 10pm on Saturday as part of the eighth round of the Spanish league. The Royals currently stand in second place with 21 points — three points behind Barcelona — and are seeking to win the match to temporarily top the standings before Barcelona’s match next on Sunday.

The European league matches we’re following this weekend:

  • Borussia Dortmund vs. St. Pauli — Bundesliga (9:45pm Friday).
  • PSG vs. Strasbourg –- Ligue 1 (10pm Friday).
  • Bayer Leverkusen vs. Frankfurt — Bundesliga (4:30pm Saturday).
  • Milan vs. Udinese — Serie A (7pm Saturday).
  • Bayern Munich vs. Stuttgart — Bundesliga (7:30pm Saturday).
  • Juventus vs. Lazio –- Serie A (9:45pm Saturday).

? OUT AND ABOUT-
(all times CLT)

HAPPENING THIS WEEK-

A reunion of five wealthy friends in Sahel takes a turn in the play Sa7ebna. From tonight until Sunday, 20 October at AUC Tahrir you’ll get to follow the narrative where tensions rise, and buried emotions and conflicts come to light. You can grab tickets at Ticketsmarche.

City Centre Almaza is hosting a comedy night with The High Five group tomorrow. Doors open at 7pm, so catch a spot at the fun-filled evening of laughter on Ticketsmarche.

The Ma3 Kamel E7terami season finale will hit the El Masrah Theatre stage live for the first time. Tomorrow Mohamed El Aty will be giving you a night of comedy that breaks the fourth wall. Reserve your spot at Ticketsmarche.

Catch Massar Egbari and Disco Misr at El Malahy tomorrow. The concert is slated to start at 7pm. Get your tickets at Ticketsmarche.

Egyptian artist Ash is back with a concert from the heart of the Pyramids of Giza, part of his world tour, tomorrow. Get your tickets from Nacelle’s website.

HAPPENING LATER-

Got the moves? The 16th edition of Cairo International Jazz Festival will take place from Thursday, October 31 to Friday, November 8, 2024 at the American University in Cairo campus in Tahrir. Tickets available on Ticketsmarche.

The fourth edition of Forever is Now is approaching. This year, a lineup of 12 global visionary artists are ready to display their work at the iconic Pyramids of Giza — including two groundbreaking AI-powered projects. The exhibition will start on Thursday, 24 October and continue till Saturday, 16 November.

Did somebody say cheese? The third edition of Egypt Cheese Festival will begin on Thursday, 31 October at Al Horreya Garden. This is the only dairy and cheese festival in Egypt and the Middle East so prepare to witness all the different sorts of this delicious delicacy. The festival will last till Sunday, November 3.

Prepare for the sixth edition of The Marakez Pyramids Half Marathon, organized by the TriFactory. Pick your race of choice and start training, because the marathon will take place on Saturday, 14 December. Note: Ticket prices will increase in a week, so get in line for early bird registration on the marathon’s website.

? EARS TO THE GROUND-

Take out your pots and kettles for this podcast — it’s time for some tea. Dish is a combination food podcast and interview show hosted by Nick Grimshaw and Angela Hartnett. Nick Grimshaw, a broadcaster, brings his signature wit and charm to the show, while Angela Hartnett, a Michelin-starred chef and restaurateur, offers culinary expertise and passion. Together, they create a delightful blend of food, fun, and celebrity interviews.

Each episode also includes a cooking segment, where the hosts prepare dishes like beef tagliata with asparagus, lentils, and rocket salad. In one episode with Dua Lipa, alongside discussing her new album Radical Optimism and her creative process, they also discuss Lipa's preference for new season garlic and her love of lentils. The episode concludes with a lighthearted game of food and astrology, and a playful quiz about Lipa's suitability as a head chef.

It’s a must-listen for those who enjoy food, celebrity gossip, and entertaining conversation. What sets it apart from other food podcasts is that Grimshaw and Hartnett’s playful banter and shared passion for food creates a warm and inviting atmosphere that makes the podcast more enjoyable and engaging than most, even without the celebrities.

WHERE TO FIND IT- You can listen to Dish on Apple Podcasts, Spotify, Anghami, Audible, Amazon Music, YouTube, and YouTube Music.

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4

GO WITH THE FLOW

What the markets are doing on 17 October 2024

The EGX30 fell 1.3% at today’s close on turnover of EGP 3.8 bn (8.9% below the 90-day average). Local investors were the sole net sellers. The index is up 21.1% YTD.

In the green: Abu Qir Fertilizers (+2.3%), Oriental Weavers (+2.2%), and Egypt Kuwait Holding-USD (+1.6%).

In the red: Juhayna (-11.5%), Eastern Company (-6.3%), and Palm Hills Development (-5.5%).

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5

PARENTING

The ins and outs of modern-day parenting

We are not our parents. Parenting is constantly transforming as a result of evolving societal norms and expectations, meaning that the way that we were raised isn’t (and can’t) be the same way we raise our children.

What’s changing? Nearly half of those surveyed in a study of 3.8k US parents indicated that they prioritize showing love and building relationships through unconditional support, opting for less yelling and more verbal affirmations and honest conversations about tough topics. Also, it seems that mothers — while more commonly having careers outside the home — still spend as much time with their children as stay-at-home moms did in the 1970s.

Previously, parents were more concerned about physical safety, but recently the focus has shifted to mental health. Three-quarters of parents expressed concern that their children would struggle with anxiety, depression, or bullying, according to NYT. “I try to have weekly talks with my kids to check in on their emotions to see how they are. Even if they had a good week, I have found it is still good to remind them you are there for them.”

This is a response to difficulties that they encountered in their own childhoods. “I didn’t have a safe place to express my emotions of feeling understood,” one mother told Pew Research. "I don't want my children to go through what I went through," some of the parents told Psychology Today. This ideology in itself has made parenting even more challenging, a sentiment that two thirds of the parents surveyed by Pew Research echoed.

There is an overall higher level of emotional awareness when it comes to children. As psychological health made its way to the forefront of social awareness, children were seen as more vulnerable to experiences impacting their upbringing. This led to parenting styles that are “child-centered, expert-guided, emotionally absorbing, labor intensive and financially expensive,” Sharon Hays wrote The Cultural Contradictions of Motherhood.

But some parents are doing too much. Intensive parenting involves investing all their energy, resources, and capacity for love, engaging in monitoring parental behavior, and putting off one's own desires in order to care for the children. Examples can start when a woman is pregnant and begins making major diet changes to keep the baby safe, continuing onto excessive use of baby monitors, making homemade natural sunscreen, and eventually even calling their adult child’s employer to follow up on their interview.

While this behavior is born out of the best intentions, this method may often harm the children. Not having the opportunity for trial and error or learning from failure hinders a child’s ability to solve their own problems, reducing their self-confidence significantly. As children become less accepting of parental authority, overprotective parenting can exacerbate these issues.

Children have naturally become less dependent on their parents for information due to their growing access for ideas from social media and their peers. Compared to previous generations — when parents played a strictly authoritarian role — recent generations are less compliant, leading them to ask more questions to understand why rules are set.

Every generation says this to their kids, but child-to-parent obedience really is going down the drain. The phrase “because I said so,” is no longer enough when it comes to disciplining children, because children no longer accept rules as rules without accompanying reasons.

Psychologists are concerned that these techniques are leading children into high levels of stress and dependence on their parents. According to a 2013 study, children with hyper-involved parents tend to develop more anxiety and less satisfaction with life, whereas children who are given space to be unsupervised develop social skills, emotional maturity, and future executive function.

Striking the balance: While parents today prioritize emotional connections with their children and protecting their mental health, they also face the challenge of being over-involved and navigating the changing dynamics of parent-child relationships. As they strive to provide the best possible upbringing for their children, finding the balance between support and independence, and fostering resilience and emotional well-being is crucial.

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ENTERPRISE ENTERTAINMENT CALENDAR

OCTOBER

28 September - 24 October (Saturday-Thursday): Bastet’s Daughters Exhibition at Craftastic.

7-21 October (Monday-Monday) First Wave exhibition at Downtown Cairo.

17-20 October (Thursday-Sunday): Sa7ebna play at AUC Tahrir.

18 October (Friday): High Five group at City Centre Almaza.

18 October (Friday): Ma3 Kamel E7terami season finale at El Masrah Theatre.

18 October (Friday): Massar Egbari and Disco Misr at El Malahy.

18 October (Friday): TriFactory Tough Mudder 5K run at Sodic.

18 October (Friday): Ash at Pyramids of Giza.

18 October - 18 November (Friday-Monday): Cairo Prints Exhibition in Garden City

21-26 October (Saturday-Thursday): Premier Padel P2 Tournament at New Giza.

24 October - 16 November (Thursday-Saturday): Forever is Now art exhibition at the Pyramids of Giza.

24 October (Thursday): Omar Khairat Concert at Monaco Hall, Triumph Luxury Hotel.

24 October - 16 November (Thursday - Saturday): Art D'Egypte’s Forever is Now Bus Tour at the Pyramids.

25 October (Friday): TriFactory Trailmaster run at Wadi Degla.

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

31 October (Thursday): TriFactory’s The Glow Run at Badya Palm Hills.

31 October- 3 November (Thursday-Sunday): Egypt Cheese Festival at Al Horreya Garden.

31 October - 8 November (Thursday-Friday): Cairo International Jazz Festival at the historic American University in Cairo.

NOVEMBER

8 November (Friday): TriFactory’s The Run for Upper Egypt at New Giza.

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

15 November (Friday): Circoloco Ibiza at The Great Pyramids of Giza.

16 November (Saturday): Charlotte Cardin at Cairo Jazz Club 610.

16 November (Saturday): TriFactory Half Marathon at El Gouna.

22 November (Friday): TriFactory TMK run at District 5.

DECEMBER

6 December (Friday): TriFactory PMH warm-up run at District 5.

13 December (Friday): Aura Music Festival at Lac Du Caire

14 December (Saturday): TriFactory’s The Marakez Pyramids Half Marathon at the Great Pyramids of Giza.

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