Good afternoon, folks, and Ramadan Kareem. We hope that the caffeine withdrawal has been gentle as we begin the holy month.
So, when do we eat? Maghrib prayers are at 6:02pm in the capital, and you’ll have until 4:49am tomorrow to hydrate and caffeinate ahead of fajr.
THE BIG STORY TODAY
CIB eases FX transaction limits abroad for the second time in less than a week: CIB has raised the monthly maximum cap on FX transactions abroad to the equivalent of EGP 75k-200k depending on the cardholder’s account type, up from EGP 25k-175k, according to a statement (pdf) from the lender. Egyptians abroad can now also withdraw the equivalent of EGP 3.5k-10k from ATMs abroad every month, up from EGP 2k-6.5k.
There’s also good news for those of you wanting to renew your Netflix subscriptions for Ramadan: CIB also increased the monthly ceiling on FX transactions at home to EGP 50k for all account types, up from EGP 3.5k-12.5k.
The move follows another loosening of FX transactions the bank and others had made atthe end of last week, following instructions from the central bank to gradually lift restrictions on credit card FX transactions as the country adjusts to a new post-float normal and waves goodbye to the parallel market.
THE BIG STORY ABROAD
BTC’s record-high price is getting some ink in the international press this afternoon. After the British Financial Conduct Authority said it would allow the listing of crypto-backed exchanges following The Securities and Exchange Commission’s move to approve ETFs, BTC’s price rose 3% to over USD 72 k, says CNBC. Traders are obligated to maintain UK listings regime requirements, as well as those concerning issuing prospectuses and disclosures to make sure investors are protected and trade goes smoothly. The London Stock Exchange will now approve ETNs starting 2Q — but investments are not open to consumers yet, calling crypto “ill-suited for retail consumers due to the harm they pose.”
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** CATCH UP QUICK on the top stories from today’s EnterpriseAM:
Inflation unexpectedly up, after easing for four months straight: Annual urban inflation jumped 5.9 percentage points to 35.7% in February from the month before on the back of an unexpected jump in food prices.
World Bank, EU to funnel USD 8-9 bn into Egypt: The World Bank is expected to extend around USD 3 bn in financing to Egypt and will also receive some USD 5-6 bn in financing from the European Union.
Beltone to acquire 100% of SODIC’s securitization arm: Real estate developer SODIC’s securitization subsidiary — SODIC for Securitization — is set to offload all of its shares to Beltone Financial Holding after its general assembly approved the decision on Thursday.
☀️ TOMORROW’S WEATHER- Expect more sunny skies starting off with a low of 12°C before the mercury climbs up to 27°C and drops back down to 17°C at night, according to our favorite weather app.
Oppenheimer triumphs in the final Barbenheimer showdown: Oppenheimer emerged as the undisputed star of the Academy Awards, which kept us entertained as we ate our suhoor in the early hours of the morning. The film secured seven awards including the coveted Best Picture, Best Actor for Cillian Murphy, Best Supporting Actor for Robert Downey Jr., and Best Director for Christopher Nolan’s — his first win after eight nominations. Meanwhile in non-Oppenheimer awards, Emma Stone clinched her second Best Actress award for her role in Poor Things — pushing out the favorite, Lily Gladstone, from the Oscar race.
The ceremony featured historic moments, too: Billie Eilish made history as the youngest two-time Oscar winner at 22, after earning Best Song for What Was I Made For? (runtime: 3:38) from the Barbie soundtrack. Hayao Miyazaki, co-founder of Studio Ghibli and animation icon, was the oldest winner of Best Animated Feature at 83 for The Boy and the Heron, an award he also took home in 2002 for Spirited Away. The Holdovers actress Da’Vine Joy Randolph was awarded Best Supporting Actress just one day after news broke of accusations of plagiarism.
…and a few odd ones: Al Pacino, tasked with announcing the Best Picture award, skippedover reciting the nominees and jumped straight to a simple “Oppenheimer.” For reasons unbeknownst to us, John Cena took the stage in his birthday suit, with nothing but the Best Costume Design envelope and a pair of Birkenstocks preserving his modesty.
Protests for a ceasefire in Gaza delayed the event’s start. Attendees struggled to make it to their seats due to the protestors who nearly made traffic standstill. Some A-listers such as Ramy Yousef, Mark Ruffalo, and Billie Eilish donned red Artists4Ceasefire pins as they made their way down the red carpet while stars of Anatomy of a Fall Milo Machado-Graner and Swann Arlaud wore a Palestinian Flag to express their support.
The political statements extended to the ceremony itself with Jonathan Glazer, director of The Zone of Interest, addressing the audience during his acceptance speech for Best International Film, highlighting the “dehumanization” in Gaza and drawing parallels with his Holocaust film, urging people to reflect on the current situation in the strip. (Variety | CNN | The Guardian)
Ramadan is the time to give thanks, spend time with our loved ones — and curate our viewing lists. Discussions at the dining table and around the temporarily decommissioned water cooler are going to be dominated by this year’s most popular mosalsalat. We’re happy to help you stay in the loop — here’s what to look out for and where to look out for it.
3atabat El Bahga is up first, starring veteran silver-screen actor Yehia El Fakharany.Adapted from Ibrahim Abdelmegeed’s novel of the same name, El Fakharany will share screen time with Mayan El Sayed in a story of a grandfather who suddenly finds himself the sole caretaker of his two grandchildren. The 15-episode show (watch trailer, runtime: 0:59), directed by Magdy Abo Omeira and written by Medhat El Adl, will be streaming on Watch It.
Who doesn’t love a good period piece? Karim Abdelaziz is Hasan-i Sabbah, the leader of the titular Al Hashashin (watch trailer, runtime: 0:50), an order of Shiite assassins in 11th century Syria — sans accent. Hasan-i Sabbah is a real historical figure, and his leadership over El Hashashin saw numerous prominent figures murdered during their time. Peter Mimi — the brains behind Ramadanhit ElIkhteyar — is directing this month-long series, which will be airing on Watch It.
Masar Egbari is high on our list: Two young men discover that they are brothers after their father’s will puts their lives into a tailspin. In charge of solving the murder that brought them together, the story follows the brothers as they learn to set their differences aside. The series (watch trailer, runtime: 0:37) stars Ahmed Dash and Essam Omar, and is directed by Nadine Khan. You can catch it on Shahid.
Amir Karara is back in action — naturally. Beit El Refai (watch trailer, runtime: 1:36) is penned by Peter Mimi, directed by Ahmed Nader Galal, and follows a father and doctor whose life is thrown into disarray following a murder related to illegal antiquity trade. Karara is joined on screen by Sayed Ragab, Merna Gamel, and Ahmed Rizk. Beit El Refai streams on Watch It.
El 3atawla is rife with conflict: After falling in love, Nassar (Ahmed El Sakka) promises to leave his life as a professional thief behind. The show (watch trailer, runtime: 2:21) sees him caught in the crosshairs of his old associates and everyone affected by his decision to live on the straight and narrow, including his own family. Follow the action all month long on Shahid.
Lunch Box is a dash of Desperate Housewives and a lot of Ocean’s Eleven. An adaptation of the hit show Good Girls, Lunch Box (watch trailer, runtime: 1:33) follows three housewives, one of whom is the iconic Ghada Adel, on the brink of financial crisis taking matters into their own hands by attempting a small heist. They find themselves thrust into a life of crime, though a little less than reluctantly. Watch on TOD.
Bedoon Sabiq Inthar is a visually stunning story from director Hani Khalifa and writer Alma Kafarneh. Starring Asser Yassin and Aïcha Ben Ahmed, the family drama (watch trailer, runtime: 0:42) deals with heart wrenching themes of illness and helplessness, as a couple struggles with the health of their child. It will stream on Watch It.
Ahmed El Awady is almost synonymous with Ramadan action series. This year, he’s back with 7a2 3arab (watch trailer, runtime: 2:36) in a story of a man desperately trying to escape a bitter past that keeps pulling him back. This tale of betrayal and redemption will be streaming on Watch It.
Silat Rahim discusses the controversial topic of surrogacy. The series (watch trailer,runtime 0:37) follows an anesthesiologist (Eyad Nassar), who hires a surrogate (Asma Abulyazeid) to carry his and his wife’s (Yosra El Lozy) baby after she suffers a tragic accident. The illegal — and in some opinions immoral — practice causes more trouble than anticipated by the calculating doctor. Catch the drama on Shahid.
We said it before, and we’ll say it again — it’s not Ramadan without a mosalsal from Nelly Karim. Farawla (watch trailer, runtime: 0:58) is the daughter of a porter, who rises to fame and success with the help of some sneaky parlor tricks. Keep an eye out for this lighthearted 15-episode series, which will start airing on Watch It during the second half of Ramadan.
Related
⚽ Chelsea goes head to head against Newcastletonight at 10pm to wrap up gameweek 28 of the Premier League.
In La Liga, week 28 is winding down with Almería playing against Sevilla at 10pm.
As for tonight’s matches in the Egyptian Premier League, Modern Future is playing against Al Ittihad Al Sakandary at 9:30pm.
Related
? OUT AND ABOUT- (all times CLT)
RAMADANIYAT-
Good news for all of our West-siders and adventurous Easties:Qahwet WOC is back this year for your Ramadan nights out starting this Thursday, 14 March. Walk of Cairo is collaborating with Topaz Restaurant to fill every night with live performances throughout the Holy Month, including a Mawlaweya show, a tanoura show, board games, and a traveling Mesaharaty. You can head down there any time during Ramadan from 8pm to 2am.
What’s a Ramadan night out without a suhoor tent?Layalina is launching on Thursday, 14 March at Zed Park, with Nouran AbuTaleb providing her mellow sounds for company, and again on Friday, 15 March with Hana Yousy’s vocal talents. Their extensive menu, which includes drinks, cold and hot mezzahs, and mini sandwiches, is going to make sure you’re ready for your fast. You can snag spots for two, four, five, or eight people. Like any authentic Suhoor experience, Layalina expects you there well into the night, opening its doors at 11:30pm.
Layalina is also going to East Cairo.El Baron Palace is hosting this Suhoor tent on Friday, 15 March, and along with the Sharmoofers, are bringing you a night of tradition and entertainment under the stars. The menu will be the same as our West-siders, but those attending at El Baron have a larger selection of seating. You can choose between lounges, tables, and high table seats here.
Looking for more authenticity, less glitz-and-glam? The Qandil Bani Helal troupe is performing El Sira El Hilaleyaat Rawabet on Saturday, 16 March. This sira is one of the most widely known and most beloved epics told by renowned poets like Sayyid Al Dawy and Jaber Abu Hussein. You can grab your tickets here. The performance starts at 9pm sharp, and late arrivals will not be let in. Please note that children younger than the age of 12 are not allowed to attend.
MUSIC-
Witness some of the last remaining Zar practitioners in Egypt on Wednesday, 13 March. The Mazaher ensemble shares their tradition with audiences with two concerts every Wednesday at Makan. Reach out by the email or Whatsapp number provided on the page to experience the spiritual poly-rhythmic drumming and vocals practiced in Upper Egypt. Note that taking photos and/or videos is prohibited during the performance.
Is it too early to make Eid plans? Grab yourself some fast-selling tix to El Hadaba’s Eidconcert in Gouna on Wednesday, 10 April.
EVENTS-
Osana’s upcoming bazaar is a two-in-one Ramadan and Mother’s Day event. Happening on Saturday, 16 March, you’ll find gifts, decorations, and Ramadan essentials as well as a Sohour between 7pm and 11pm.
To our young readers: Mark your calendars for Friday, 3 May and get ready for the Youth toBusiness (Y2B) event at The GrEEK. Y2B is a networking event with inspiring keynote speakers and workshops designed to help you plan and advance your career, give you personal development insights, and give you the chance to explore different career paths.
In need of comic relief? Konafa Comedy Night at ROOM Garden City’s got you covered. With a lineup of eight comedians, you’re in for a night of laughs on Thursday, 14 March, with doors opening at 7:30pm. You can purchase your tickets in person at the branch or via this link.
Comedy Stuff is taking the stage at ROOM New Cairo on Sunday, 17 March. Five comedians are armed with their best material for a hilarious night that starts at 8:30pm. You can snag tickets here for EGP 200. That doesn’t include the minimum order — but why not treat yourself to some suhoor while you’re there?
Missed it? No problem, there’s no shortage of comedy at ROOM. Six more comedians are laying it all on the table on Thursday, 21 March at the space’s Garden City branch for The Mad Day. Like the previous event, doors also open at 8:30pm, and the same ticket and minimum order regulations apply.
Drop the sobia and face your phobias at Rawabet Arts Space’s Mesh Mawgood LivePodcast: Fobia Elsobia event. On Tuesday, 19 March from 9pm the event will help you confront and understand your fears, or phobias, such as potatoes, car headlights resembling human faces, associating even numbers with good and odd numbers with evil, having a fear of cheese, or feeling uneasy about the Ring Road. Get your tickets here.
Related
? UNDER THE LAMPLIGHT-
Can we separate the art from the artist? Monsters: A Fan’s Dilemma by Claire Dederer aims to answer the age-old question. With the internet bringing the atrocities of artists who, once upon a time, used to be our favorites, it seems like no creative is safe to enjoy themselves. Whether that should even be the case is the case contested in the book.
Many know the inner turmoil of findingout an artist you look up to is not a very good person. The ethics of such a scenario are new, considering its ubiquitous rise during the digital age, but what is the right thing to do? Is it wrong to enjoy Kanye West’s music? Hemingway’s writing? Picasso’s art? Or should they get a pass because of their creative contributions to the world?
You may also wonder whether the sheer number of canceled artists indicates that creating influential work necessitates some sort of monstrosity. Dederer unpacks this, along with a conversation of how women, particularly mothers, should or shouldn’t be absolved of these accusations.
She doesn’t claim to have all the answers, but the author will try to give her opinion on the topic using real-life examples so you can make your own informed decision. The book is broken down into a collection of essays which makes it much easier to get through by eliminating the daunting aspect of a long-winded, non-fiction book, but covers all the bases of the questions you might be asking yourself if you’ve found yourself in this sort of ethical dilemma.
The EGX30 rose 1.4% at today’s close on turnover of EGP 7.2 bn (53.8% above the 90-day average). Foreign investors were net buyers. The index is up 34.1% YTD.
In the green: E-finance (+14.0%), CIB (+8.9%) and Telecom Egypt (+4.6%).
In the red: Elsewedy Electric (-6.4%), Orascom Construction (-5.0%) and Heliopolis Housing (-5.0%).
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