Paying for productivity

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WHAT WE’RE TRACKING TONIGHT

Egypt could issue USD 1-1.5 bn worth of bonds in international markets as early as next month

Good afternoon folks, and happy Wednesday. As a sunny workday in the capital comes to a close, we have all the latest on Egypt’s coming debt issuance, Microsoft and Google’s insistence on AI integration, and the Pharaohs’ upcoming match as the World Handball Championship kicks off.

THE BIG STORY TODAY

Egypt could return to international debt markets as soon as next month, with the Madbouly government currently in discussion with international offering advisors to identify the best options for debt issuances in the coming period, a senior government official told EnterpriseAM.

The plan: The Finance Ministry is planning to issue between USD 1-1.5 bn worth of green bonds or eurobonds, as well as another issuance of sovereign sukuk, our source told us. The issuances will focus on longer maturities.

ICYMI- Finance Minister Ahmed Kouchouk last year said that Egypt was set to issue USD 3 bn in Eurobonds and other debt instruments in FY 2024-25.

THE BIG STORY ABROAD

Chinese officials are cautiously optimistic that US president Donald Trump’s threats to levy tariffs against the world’s second largest economy may have been more bark than bite, with Beijing reportedly viewing Trump’s early policy steps as signalling potential for trade negotiations that would avert a full-blown trade war, the Financial Times reports. Trump’s decision to issue a memo directing investigations into the US-China trade deficit rather than immediately implementing steep tariffs has sparked hope in Chinese official circles that an agreement deferring tariff hikes might be on the table.

Meanwhile, US investors are grappling with Trump’s decision to freeze more than USD 300 bn in already-allocated green infrastructure funding as his second term begins, the FT reports. Trump’s move — part of a greater effort to roll back outgoing US president Joe Biden’s Green New Deal — is expected to herald significantly lower US government funding for green infrastructure, “increasing the risk of stranded capital for manufacturing projects already under way,” Mobility Impact Partners’ Shay Natarajan told the salmon-colored paper.

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It’s not just the private sector with sizable solar panel factories in the pipeline. State-owned Arab Organization for Industrialization’s (AOI) joint solar panel manufacturing project with Sweden’s Sunshine Pro is set to be operational in July of this year and will have a production capacity of 1 GW of panels by July 2026.
Local fintech startup MoneyHash raised USD 5.2 mn in a pre-Series A funding round. The startup will use the fresh funds to accelerate market penetration in the MEA region and for global expansion into other emerging markets where payment infrastructure remains underdeveloped.
The Madbouly government reportedly cleared up USD 1 bn in arrears owed to foreign oil companies in the first week of January. A new schedule to settle the accumulated USD 6.5 bn in arrears has been agreed with companies, with repayments set to run from next month until June 2025.

☀️ TOMORROW’S WEATHER- Temperatures are dropping lower in the capital tomorrow, with the mercury set to rise to 21°C in the morning and 11°C at night — in addition to a 25% chance of rain, according to our favorite weather app.

Google and Microsoft rethink AI pricing to win back corporate clients

Microsoft and Google’s battle to integrate AI-powered tools into everyday office life proves to be an uphill one, Axios reports. Both companies had high hopes that businesses would pay extra for access to advanced AI chatbots as part of their productivity suites, but their hand has been forced to a shift in strategy as corporate clients pass on paying an additional monthly USD 20-30 per employee for AI assistance.

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What comes with the price tag? The chatbot-powered tools promised to revolutionize workflows by integrating advanced genAI into everyday work apps such as Word, Excel, Gmail, and Google Workspace. But for large corporations, the cost of rolling out these tools to thousands of employees can add up to mns of USD annually — with many hitting the brakes and prioritizing smaller scale trials before jumping on the wagon.

Pivot. Google recently announced that the Gemini Advanced AI chatbot will be included on its standard Workspace plans by hiking the original price by a more humble USD 2 per user per month. Microsoft, however, introduced a dual approach, rolling out Copilot Chat free of charge but with limited functionality. For those seeking the full VIP treatment, the premium tier of Microsoft 365 Copilot remains available at USD 30 per user monthly. Microsoft is also dabbling to expand with a family plan, which would add an extra USD 3 to the original price plan to a smaller number of users.

The bigger picture: Microsoft’s AI marketing head, Jared Spataro, believes that the rise of AI agents as the next frontier could introduce a consumption-based pricing model — where companies can pay for results rather than per user subscription.

In a league of its own

? Season two of Arcane turns the stakes up to eleven. The stunning animation, intense action, and a standout voice cast earned Arcane a lot of praise as well as an Emmy for Outstanding Animated Program — a first for any streaming service animated series. Fast forward to the much-anticipated second season, marking the series’ finale. With just nine episodes, this final chapter compresses what some fans hoped would be a five-season arc into just 18 episodes across two seasons. Spoilers ahead if you haven’t watched season one.

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Refresher: The story follows two young, orphaned sisters, pink-haired Vi and blue-haired Powder, who grow up to fight on rival sides in a world divided by magic and technology. The visuals (which combine 2D and 3D animation) thread a fantasy-meets-steampunk vibe through the story.

Season two picks up immediately after the explosive events of the first season. The attack on the Piltover Council by Jinx (Ella Purnell) leaves the city reeling. Amid the smoke and devastation, the narrative dives straight into the consequences. Jayce (Kevin Alejandro) desperately tries to bring back Viktor using a Hextech crystal, while Caitlyn (Katie Leung) mourns her mother. As the Piltover leadership grapples with the fallout, war with Zaun seems looming.

Caitlyn’s offer of a badge to Vi results in a drunken spiral, highlighting their personal struggles amidst the chaos. Public memorials turn into battlegrounds when Singed (Brett Tucker) unleashes an attack. In response, Vi and Caitlyn rise to the occasion to fend off the assault. And where is Jinx in all this? Her absence hangs over the story, paving the way for more drama.

It solidifies the notion that video game adaptation can thrive with the right producers. Knowledge of League of Legends is not mandatory, but being fans of the popular multiplayer battle game — whose tournaments attract some of the biggest viewerships in e-sports (more than 100 mn tuned in to its 2019 iteration) — will definitely enjoy LoL’s narrative arcs being fleshed out.

WHERE TO WATCH- You can find the series on Netflix, or watch the trailer on YouTube (runtime: 2:21).

Mandarine Koueider makes its deli debut

? Mandarine Koueider dives into the deli scene. The undisputed king of oriental desserts has taken a bold leap into the savory world with the launch of its first deli — trading kunafa and basbousa for cold cuts and greens. The deli offers a lineup of wraps, sandwiches, and salads — including the ever-trending warm bowl salads.

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We ordered right away: We started with a Chicken Pesto Sandwich, a combination of roasted chicken breast, a generous slather of pesto sauce, avocado, tomato, a few pickled onions, and mayonnaise, all encased in sourdough bread. The sandwich delivered on every front: tasty, fresh, and filling. While the sourdough was a bit of a workout for the teeth, the taste of the sandwich was worthwhile.

Next up — the green bowls: We opted to go with the Chicken Caprese Salad, which featured a vibrant mix of greens topped with grilled chicken, tomatoes, baby potatoes, avocado, and radish, all drenched in a zesty Italian balsamic sauce. All we can say is that it held its own against the sandwich.

Unfortunately, the Mexican Chicken warm bowl didn't rise to the same standard. While the lettuce, grilled chicken, mexican rice, jalapenos, guacamole, kidney beans, and sour cream seemed to offer bold flavors, the result was underwhelming. The guac and rice portions were sparse, and the overall taste leaned bland. A sauce swap might rescue this dish, but as it stands, it left us wanting more. A theme for both bowls was the chicken (or lack of it) — it disappeared too quickly amid the other ingredients.

For those eager to explore the menu further, the deli is available for orders via Rabbit. For a personalized experience, drop by their branch at District 5 and build your own bowl.

Egypt’s first match in the World Handball Championship’s main round + The Champions League continues

? Egypt’s handball team has made it to the main round. The Egyptian national handball team will play its first match in the IHF World Men’s Handball Championship’s main round today against Iceland at 9:30pm. This round consists of four groups of six teams, with only those in first and second place of each group set to qualify for the quarterfinals. Egypt has qualified for the fourth group alongside Croatia, Argentina, Iceland, Slovenia, and Cape Verde, and we’re currently at the the top of the standings, tied with Iceland at four points.

What’s happening in the Egyptian league? Al Ahly will be facing Farco as part of the Nile League’s ninth round at 4pm. At 7pm, ZED will face Pyramids and Ceramica Cleopatra will face Al Ittihad. The reds are currently in the lead with 18 points — a single point ahead of Zamalek and Pyramids, in second and third place on 17 points each.

We’re still enjoying the Champions League anthem. The seventh round of the Champions League group stage comes to an end today with a few important matches.

PSG faces Manchester City — both of which aren’t performing as well as they have over the past few years. Les Parisiens are in 26th place with seven points, while Man City are two spots ahead with eight. The match will take place at 10pm.

At 10pm Real Madrid faces Salzburg, Arsenal faces Dinamo Zagreb, and Inter faces Sparta Praha. Madrid stands in 22nd place with nine points, Arsenal in 5th with fifteen points, and Inter in 7th with thirteen points.

The rest of the round's matches:

Leipzig vs. Sporting Lisbon (7:45pm)
Shakhtar vs. Brest (7:45pm)
Celtic vs. Young Boys (10pm)
Feyenoord vs. Bayern Munich (10pm)
Milan vs. Girona (10pm)

Bid January farewell on a high note

MARK YOUR CALENDAR-

End the first month of the year on a high note (literally): Lebanese DJ Rodge will be performing at CJC 610 right after an energetic performance from Bubblegum Kollective. The night will kick off at 9pm on Friday, 31 January. Tickets are available on Ticketsmarche.

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HAPPENING THIS WEEK-

Treat your ears to some Egyptian folk music: Sohba Semsemia brings you a vibrant singing and dancing show featuring traditional simsimiyya and tanbura music. Catch their performances at Rawabet Art Space from Wednesday, 8 January until Saturday, 1 February. Tickets are available on Ticketsmarche.

The band Wust El Balad are lighting up the CJC 610 stage tonight with all their greatest hits. Doors open at 8pm, and the concert starts at 10pm, book your tickets on the official CJC website.

It’s time for the country’s largest book fair. The Cairo International Book Fair is back for its 56th edition starting tomorrow and continuing till Wednesday, 5 February. The event will take place at the Egypt International Exhibition and Convention Center in New Cairo, and will host guests of honor that include the Sultanate of Oman, scientists and artist Ahmed Mostageer, and author Fatma Elmadoul.

Maybe you’re craving some timeless tunes: The Arab Music Institute is hosting an Abdelhalim Hafez tribute night tomorrow, where you’ll get to experience nostalgia and love for the artist that touched hearts for generations. Tickets are available on Tazkarti.

HAPPENING LATER-

The story behind the music. Egyptian singer and composer Dina El Wedidi will be showcasing the story behind some of her signature songs and walking the audience through her journey on Wednesday, 29 January at the Boom Room in Open Air Mall, Madinaty. The event will take place at 8pm, and tickets are available on Ticketsmarche.

160 of Egypt’s most celebrated and promising artists. The 10th Edition of Cairo Art Fair is now open at TAM Gallery in Abu Rawwash and will continue running till Friday, 31 January.

Catch the grand final of the Double Dribble Basketball League at Heliopolis Sporting Club Shorouk on Saturday, 1 February. The event will start at 4pm and will run till 8pm, featuring matches between New Giza and Maadi Retro, along with the third place match between Negm El Geil and Underdogs. If that’s not enough, there's also going to be an exclusive performance from Egyptian rapper Moscow.

This one is for the sports fans. The Football Access Summit will feature talks, panels, and presentations from sports industry leaders — giving the fans insider access. The summit will take place on Friday-Saturday 7 and 8 February at ZED Park. Tickets are available on Ticketsmarche.

Cairo Runners is once again hosting its iconic annual marathon, this time on the day of love. On Friday, 14 February, pick between a 21km, 10km, or 5km race, or even a short family run. Register your interest on Cairo Runners.

The sixth edition of the E7kky Festival. The festival will take place on Friday, 21 February at ZED Park in Sheikh Zayed City and will feature talks, panel discussions, and workshops revolving around empowering women. Disco Masr will also be performing in addition to the many activities taking place from 10am to 10pm. Tickets are available on Tazkarti.

What the markets are doing on 22 January 2025

The EGX30 rose 0.5% at today’s close on turnover of EGP 4.6 bn (21.6% above the 90-day average). Regional investors were the sole net sellers. The index is up 0.8% YTD.

In the green: Juhayna (+6.2%), Mopco (+4.3%) and Oriental Weavers (+3.3%).

In the red: Beltone Holding (-1.6%), Egypt Kuwait Holding- EGP (-1.2%) and Orascom Construction (-0.9%).

THE ENTERPRISE ENTERTAINMENT CALENDAR

JANUARY

8 January-1 February (Wednesday-Saturday): Aywa Aywa La2 La2 at Rawabet Art Space.

8 January-1 February (Wednesday-Saturday): Sohba Semsemia at Rawabet Art Space.

22 January (Wednesday): Out of Eight at Rawabet Art Space.

23 January - 5 February (Thursday-Wednesday): Cairo International Book Fair at the Egypt IECC in New Cairo.

23 January (Thursday): Abdelhalim Hafez Tribute Night.

23 January (Thursday): Fouad and Mouni at Theatro Arkan.

24 January (Friday): Dr. Khaled Ghattass at Teatro Al Assema.

24 January (Friday): MM events at Ain El Hayah resort.

29 January (Wednesday): Storyteller Series Vol.1: Dina El Wedidi at Boom Room.

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

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

30 January-1 February (Thursday-Saturday): Gamergy Egyptat Al Burouj Cultural Hub.

31 January (Friday): Adventure Zipline & High Ropes - Launching Event at Adrenalin Park.

FEBRUARY

1 February (Saturday): Saleh El Nawawy’s debut at Theatro Arkan.

7 February (Friday): DHB at Giza Pyramids

7-8 February (Friday-Saturday): The Art of Public Speaking Workshop at AUC Tahrir.

7-8 February (Friday-Saturday): Football Access Summit at Zed Park.

14 February (Friday): Heliopolis Marathon with Cairo Runners.

14 February (Friday): Medhat Saleh Hob x Hob concert at Theatro Arkan.

21 February (Friday): E7kky Festival.

21 February (Friday): Egycon 12 at Family Park, New Cairo.

23 February (Sunday): Umm Kulthoum Tribute Concert at The Grand Egyptian Museum.

23-25 February (Sunday-Tuesday): Sports Expo 2025 at Egypt International Exhibition Center.

OCTOBER

16-24 October (Thursday-Friday): Gouna Film Festival.

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