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WHAT WE’RE TRACKING TONIGHT

THIS EVENING: Our net foreign reserves inch higher again

Good afternoon friends, and HAPPY THURSDAY. The week has finally winded down but not without a heavy cycle of news updates.

THE BIG STORY TODAY

Egypt’s net foreign reserves creeped up again at the end of November to USD 35.2 bn from USD 35.1 bn at the end of October, according to data from the Central Bank of Egypt.

We’re on a roll. It’s the fifteenth uptick in a row, asthe Central Bank of Egypt (CBE) has managed to steadily recover a total of USD 2 bn of net foreign reserves over the past 15 months since September 2022. We had USD 41 bn in reserves on the eve of the Russian war in Ukraine, which triggered a foreign capital exodus from Egypt and saw us bleed some USD 8 bn in reserves.

Remember: The UAE recently renewed a USD 1 bn deposit that matured in July 2023 to be now due in July 2026, a CBE report showed last week. Almost USD 30 bn of the reserves is made up of short- and long-term central bank deposits made by Saudi Arabia, the UAE, Qatar, Kuwait and Libya.

THE BIG STORIES ABROAD

It’s a mixed bag of headlines in the international press this afternoon. The IDF’s continued assault on Khan Younis, where hundreds of thousands of Palestinians have gone to seek shelter, is threatening to compromise Israel’s relationship with the Biden administration that has called for a minimization of civilian deaths and increased humanitarian aid to enter Gaza, says the Wall Street Journal. This comes at a time when Biden’s support for Israel has weight down on his political popularity internationally, particularly in the Global South, reports CNBC. Meanwhile, the fourth Republican debate, which the Donald skipped, focused on attacking Nikki Haley as she sparred with Ron DeSantis to secure the second-place spot. Chris Christie attacked Trump for missing the showdown, and Vivek Ramaswamy spewed conspiracies and took personal jabs at the other candidates. (Washington Post | Associated Press)

ON THE BUSINESS SIDE- Saudi Arabia has had to shift its economic transformation plan with some unidentified projects being pushed past 2030, according to Bloomberg. The government will allow for a big deficit every year until 2026 to accelerate spending, confirmed Finance Minister Mohamed Al Jadaan. Further East, Moody’s Investor Service, has advised employees in China to work from home in the midst of their cut to the country’s sovereign credit rating. The move probably stems from concern over the possible reaction from the public, shares the Financial Times.

Meanwhile, Meta will start adding invisible watermarks to its images generated using its AI chatbot “Imagine with Meta” in the coming period, the Facebook parent said in a blog post. The move comes in an effort to increase transparency when it comes to AI-generated content.

At iSheep HQ: Apple will source batteries for the latest generation of iPhones from India, as a pivot away from manufacturing in China, the Financial Times wrote, citing two sources close to the company.

The move has been some years in the planning as the American tech giant has been trying to reduce its dependency on Chinese manufacturing amid mounting trade tension between the US and China.

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WHO YOU ARE- We're looking for gifted storytellers with a minimum of four years of work experience in investor relations, finance, banking, economics, or a related field to develop cutting-edge products and maintain relationships with a portfolio of clients. Candidates should have a bachelor's degree or higher in finance, accounting, economics, business administration, or a related discipline. We're looking for someone whose passion for storytelling is matched with strong analytical and problem-solving skills, as well as the ability to interpret and present financial data — with a keen eye for details and accuracy.

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

Ahead of launch, Arab SWFs are vying for a slice in ACDIMA’s pharma ingredients producer: Arab sovereign funds are in talks with the Arab Company for Drug Industries and Medical Appliances (ACDIMA) to acquire a 20% share in a new subsidiary it is setting up for producing active pharma ingredients.
It was a less-than-eventful cabinet meeting: During their weekly meeting, ministers approved a series of decisions aimed at better regulating water resources, protecting coral reefs, and ramping up our green energy transition.
Guterres steps up pressure on world leaders to end Israel’s war on Gaza: UN Secretary-General Antonio Guterres has formally warned the Security Council that the humanitarian crisis in Gaza threatens international peace and security and invoked a rarely-used article in the UN charter to push the council to avert a full-blown catastrophe.

FOR TOMORROW-

The Cairo Art Fair is opening its doors on Friday 8 December at TAM Gallery at District 5. The exhibition will be showcasing over 130 artists in the largest collection of contemporary Egyptian art to date with 1.5k artworks.

The event will be open to the public from 12pm to 10pm.The artworks will stay on display until Wednesday 24 January. Find out more by clicking here.

Check out our full calendar on the web for a comprehensive listing of upcoming news events, national holidays and news triggers.

?️ TOMORROW’S WEATHER- Expect the mercury to rise to a high of 21°C during the day and drop to a cooler 13°C in the evening, tells us our favorite weather app.

Your push notifications could be shared with foreign gov’ts + Facebook Messenger to offer fully encrypted chats and calls,

Tin-foil hat wearers are right about this one: In a letter to the US Department of Justice, Senator Ron Wyden pleaded with the justice department to compel Apple and Google to notify users that currently unidentified governments want to survey smartphone users via their push notifications, reports Reuters.

Who is requesting this data? While Wyden did state a source of information, he did not detail the extent of the information received. The source reportedly declined to identify the foreign governments making these requests, but described them as allies of the United States.

The letter details how this data comes from Apple and Google. While apps use push notifications to alert users to updates or incoming messages, these notifications come from Apple and Google servers, not through the individual apps. This puts these companies unique insight into how clients use specific apps through the traffic flowing through their servers.

Back-tracking. It was the US federal government that stopped Apple and Google from sharing this information in the first place. Apple expressed in a statement to Reuters that Wyden’s letter lifted the federal prohibition from sharing this knowledge with the public. Google seconded the sentiment, saying it shared Senator Wyden’s commitment to keeping users informed about their data.

The DOJ declined to comment on the gag order.

HAS META BEEN LISTENING IN? Related to the above story or not, full encryption is on the way for Facebook messenger chats and calls,in the same way that WhatsApp is, Meta said yesterday in a blog post. Facebook’s parent company has started rolling out the end-to-end encryption (E2EE) feature by default to chats and calls on its Messenger app, Axios reports. WhatsApp has been implementing the E2EE feature since 2016 for all conversions and calls.

Why does this feature matter? It will add an extra layer of security to ensure the content of messages and calls on the platform is protected throughout the entire transmission process and the information will be kept private from prying eyes, including Meta’s — unless you report a message.

Messenger has offered optional encrypted messaging since 2016: Meta CEO, Mark Zuckerberg, first mentioned plans to introduce end-to-end encryption by default in 2019. Otherwise, the US along with the UK and Australia asked Meta to stop implementing this feature as they have law enforcement concerns about child exploitation and other crimes.

Netflix’s 2023 apocalyptic flick has a star-studded ensemble cast

? ON THE TUBE TONIGHT-
(all times CLT)

Leave the World Behind makes the apocalypse relatable. A family is stuck at their vacation rental in the seaside community while the makings of a doomsday unfold in neighboring New York after a cyber blackout ensues. When the family they rented from comes back to seek refuge in their home, everyone must come together under the same roof to survive.

This film seems to follow the trend of Netflix-produced apocalyptic films that are released towards the end of the year, such as Don’t Look Up, starring Leonardo Di Caprio and Jennifer Lawrence.

Normal folk lead this apocalyptic film. No larger-than-life military experts, no Chuck Norris-esque heroes, geeky-scientists, or talented survivalists — the protagonists of this slow burn thriller based on the novel by Rumaan Alam are just regular people. That’s what makes us more invested in the characters and their thoughts and fears.

A disaster movie that’s also a character study. Another reason to watch this film is how the plot is more interested in how normal people would react in such extreme circumstances, and how they come together or keep each other at a distance. There are also clear subtexts of a commentary on prejudice, where the returning home owners are African American and rejected by the renters despite being on their own property.

The star-studded cast also doesn’t hurt, nor does Sam Esmail on the director’s chair. Julia Roberts, Ethan Hawke, Mahershala Ali, and Myha’la Herrold rise to the expectations of a brilliant performance, especially Herrold who really delivers the discussion of racism and vulnerability poignantly.

If you liked M. Night Shyalaman’s Knock on the Cabin you’ll definitely enjoy this one.We’d argue that Leave the World Behind is even more satisfying with a better ending and the added realism brings it all together.

You can catch this film tonight on Netflix.

⚽An anticipated match for Al Ahly in the Champions League: Al Ahly is hosting Chabab Belouizdad in gameweek 3 of the group stage of the African Champions League tomorrow at 6pm. The Red Devils are at the top of the group standings (4 points), one point ahead of the Algerian team in second place.

Zamalek is in the CAF Confederation Cup. Zamalek will host Angola’s Sagrada on Saturday at 6pm, in gameweek 3 of the group stage of the African Confederation Cup. Mit Oqba team occupies the top spot in the group with a full score, then comes Abu Salim and Sagrada with three points each.

Across the pond, the last two matches in gameweek 15 of the Premier League are kicking off tonight. Everton will host Newcastle at 9:30pm, and Tottenham will meet West Ham at 10:15pm.

Saturday has a whole lot more: In gameweek 16 of the Premier League Crystal Palace will be hosting Liverpool at 2:30pm. The Reds are aspiring for victory and to keep competing with Arsenal, who are surpassing them with two points.

Aston Villa will be facing Arsenal in one of the prominent matches of gameweek 16 on Saturday at 7:30pm. This confrontation is considered a game-changer as it will determine the top teams’ standings. The Villans, who are playing host, occupy the third place with 32 points after their victory over Man City yesterday, while the Gunners are at the top with 36 points.

More matches in the Premier League on Saturday at 5pm:

Man United vs Bournemouth
Brighton vs Burnley
Sheffield vs Brentford
Wolves vs Nottingham Forest

**Join more than 200 of our readers as they compete for the top spot in Enterprise's Fantasy Premier League by clicking this link or entering this code abd0f7.

Real Madrid, La Liga leaders, will host Real Betis at 5:15pm on Saturday, as part of gameweek 16 of the Spanish league.Real Madrid shares the lead with Girona, while rival Barcelona comes third, four points behind them.

Busy day in Calcio on Friday: Juventus hosts Napoli in the start of the fifteenth round of the Serie A at 9:45 pm tomorrow, Friday.

Juventus is in second place, two points behind first-place Inter Milan, while defending champion Napoli fell to fifth place, a full 11 points behind the leaders.

The most important matches in the European leagues during the weekend:

Getafe vs Valencia (La Liga, 10pm Friday)
Frankfurt vs Bayern (Bundesliga, 4:30pm Saturday)
Atalanta vs Milan (Serie A , 7pm, Saturday)
Villarreal vs Real Sociedad (La Liga, 7:30pm Saturday)
Dortmund vs Leipzig (Bundesliga, 7:30pm Saturday)
Inter Milan vs Udinese (Serie A, 9:45pm Saturday)
Real Mallorca vs Sevilla (La Liga, 10pm Saturday)
Paris Saint-Germain vs Nantes (Ligue 1, 10pm Saturday)

The Cairo Symphony Orchestra will host a Christmas concert on Saturday, 23 December at 8pm. You can book your ticket from here.
For Disney fans: The Disney Classics concert will be held at the Opera’s Main Hall on Monday, 25 December. The concert will start at 8pm. Tickets are available here.
Don’t miss the NutCracker ballet shows. The performances will be presented by the Cairo Opera Ballet, along with the Cairo Opera Orchestra. The first show will be held on Tuesday, 26 December, and will continue until Thursday, 30 December. Tickets are available here.
The orchestra will also put on another concert on Sunday, 31 December celebrating New Year’s Eve. Click here to book your ticket.

CHRISTMAS EVENTS-

Get into the Christmas spirit with these festive events all around the capital.

We’re kicking off the season to be jolly with the City of the Lights Christmas Bazaar at Galleria40. The market launched last weekend, but if you missed it, don’t fret. It’ll be up and running next weekend, too.

Bookworms, assemble: AUC’s Christmas Book Fair is running everyday until next Saturday, 9 December. All books are getting a 20% markdown, and the El Kousha Theatre Troupe for Puppets will be performing for the kids on Saturday.

Next weekend is jam-packed with Christmas celebrations. Also taking place on Saturday 9 December is Cairo Jazz Club 610’s Xmas Bazaar collab with Alkemia. 20+ local vendors, live music, good food, gluhwein, and a kid’s area is available to you from 12pm to 8pm.

Want to sit back and enjoy some Christmasy tunes? Arkan Plaza has you covered. Their Christmas Show, put together by Gaby Bishara, will bring you the smooth sounds of Louis Armstrong and Ol’ Blue Eyes himself in a blend of your favorite jazz tunes and classic Christmas tracks. Clear your schedule on Friday, 22 December to head on over.

The classic Christmas staple The Nutcracker Ballet will be performed at the Cairo Opera House by the Cairo Opera Ballet Company everyday starting 26 December up until the 30th.

FILM-

Zawya cinema will be screening five movies for the late director Ali Badrakhan until Tuesday, 26 December. You can know more about the schedule from here.

Eins Christmas Bazaar is bringing you some handmade goodies, kicking off this past Friday and continuing until Sunday, 1 January, 2024. The bazaar is being held at the Gallery, in Maadi.

THEATER-

Relive the good old days with the ACT Theater Group. The group is reintroducing tales of Goha’s (mis)adventures into circulation, alongside other folktales of yore. Adults can bask in nostalgia, and younger ones can connect with their cultural heritage. Register for the shows on 15 and 16 December here.

As a response to Palestinian-based ASHTAR Theater’s global call for solidarity with Gaza, Orient Productions is hosting The Gaza Monologues on Friday, 8 December at 8pm in Cinema Radio.The event will feature readings on stage, by heavy hitters Sayed Ragab, Salwa Mohamed Ali, Nanda Mohammad, Yosra El Lozy, Mohamed Hatem, Rakeen Saad and Ahmed Malek, with musical accompaniment performed by Mohamed Sami. All proceeds will be sent to the Mersal Foundation for aid in Gaza. Get your tickets here.

Investigation, or Tahqeeq, is bringing interactive theater to its audience. Help the writer and characters solve a mystery that is revealed on the day of the performance. This unscripted, improvised performance will be playing in Rawabet on Thursday 14 December and Friday, 15 December, starting at 8pm. Get your tickets through TicketsMarche.

EVENTS-

Award-winning Egyptian author Ashraf El-Ashmawi will be hosting a book signing event for his latest novel Maximum Speed Zero at Bibliothek Egypt on Saturday, 9 December at 5:30pm. The novel follows the journey of an Egyptian family who experience peculiar occurrences and encounter different individuals that influence their destinies.

The monthly Cairo Flea Market is putting up their Christmas decorations next Saturday, at the Zamalek Fish Garden as per usual.

CEO of Future Energy Corporation, Sherife Abdelmessih, will be hosting a book signing event for his latest book Super Vision. The event will be held on Wednesday, 13 December at Bibliothek Egypt.

Notable guests such as Sir Tim Smit from the Eden Project offer their insights, discussing the climate crisis and the influence of power in a way that keeps us engaged. As always, this thought-provoking podcast provides a listening experience with unconventional twists that encourage reflection.

WHERE TO LISTEN- You can listen to Adventures in Nutopia on Spotify, Apple Podcasts, Google Podcasts and Podtail.

What the markets are doing on Thursday, 7 December

The EGX30 fell 0.1% at today’s close on turnover of EGP 3.8 bn (22.4% above the 90-day average). Local investors were net sellers. The index is up 69.1% YTD.

In the green: Orascom Development Egypt (+3.4%), B Investments Holding (+3.3%) and Egypt Kuwait Holding (+2.4%).

In the red: Orascom Construction (-3.5%), Juhayna (-3.1%) and Madinet Masr (-2.9%).

Where are the women thinkers? A brief history of why women were excluded from philosophy

The history of Western philosophy has, for the most part, been a narrative overwhelmingly shaped by male figures. Recently, this has prompted a critical examination of the discipline’s commitment to addressing what are ostensibly universal human concerns and biases. Experts have come to the conclusion that not only has philosophy as a discipline excluded women, but that it has been shaped by the exclusion of women.

This observation becomes even more shocking considering that women have, throughout history, actively engaged in philosophy, even earning admiration — sometimes credit — from their male contemporaries.

So where are they? Women philosophers have been and continue to be relegated to a secondary status, prompting a need to explore the reasons behind this apparent undervaluing of their contributions.

The good news is that philosophy isn’t just an ancient thing, and current events have renewed interest in the subject, expanding the once firmly established canon of philosophical thinkers.

That also means that new questions are being explored:While scholars are actively revising the canon and shedding light on overlooked thinkers, fresh eyes are raising new questions about philosophical values, and constructing fresh narratives that offer a more contemporary understanding of intellectual developments throughout history.

One question that keeps popping up is philosophical in its own right: Is the historical exclusion of women thinkers a symptom of enduring biases, or are enduring biases a symptom of the exclusion of women thinkers? What came first, the chicken or the egg?

Women in the past faced different options for disseminating their ideas compared to their male counterparts. Not all women published philosophical treatises during their lifetimes, though that didn’t mean that they didn’t participate in it. Many of their ideas reside in unconventional forms such as unpublished manuscripts, correspondence, diaries, or poetry.

The content of women's philosophical thought also often addressed issues that were dismissed as “unphilosophical” by 19th-century projects involved in canon formation. These included ethical issues related to domestic life, specifically family dynamics and gender roles. Male philosophers saw these topics as too specific or practical, considering it outside of “serious” or “systematic” philosophy that dealt with more abstract or existential issues.

Other themes explored by women philosophers pertained to social and political activism — a topic ignored by philosophy as a whole, moral and emotional education — specifically the role of emotions in ethical decision-making, and personal identity — seen as diverging from more abstract and impersonal than traditional philosophical dialogue.

It is partially an issue of subjectivity versus objectivity. An interesting observation made by Anne J. Jacobson, emeritus professor of philosophy at the University of Houston, surmised that women find that personal experience made one more suitable to address a topic, and men felt that personal experience made a person’s opinion invalid.

In recent decades, scholars in different fields have actively broadened their curricula through the inclusion of previously neglected works by women. But in the philosophical realm, the stereotypical figure of the bearded sage dominates the historical narrative, reinforcing the perception of philosophy as a subject largely shaped by male perspectives.

The underrepresentation of women in philosophy still persists.While over 58% of undergraduate students today are women, they make up only 30% of those who earn both bachelor’s and master’s degrees in philosophy. Today, only 20% of professors of philosophy — who hold a PhD — are women. The field’s slow evolution is even more disparate compared to other fields that have undergone transformative changes in the 1970s and 1980s.

Thefirst edition of The Norton Introduction to Philosophy is a possibly too on-the-nose example. The 1.2k-page textbook contains no historical writings by women. This absence represents the institutionalized exclusion of women from the canon. Even the scientific field, notorious for overlooking women, has become more inclusive of women scientists’ contribution and appealing to women newcomers.

This exclusion not only perpetuates a belief that women’s cultural history is non-existent but also downplays the pivotal roles women have played in shaping modern philosophical ideas.

The voices of women who fought during the French Revolution, like Olympe de Gouges, and those who engaged in philosophical discourse throughout history have often been marginalized or overlooked.

Even within the European tradition, the prevailing patriarchal narrative continues to marginalize the role of women in cultural history.Critics argue that a history of women’s ideas cannot be recovered due to historical exclusion from schools and universities.

Wise women. However, historical evidence does exist to challenge this notion. For example, Jakob Brucker, a philosopher contemporary of 1745, included female thinkers in his comprehensive history of philosophy, asserting that “wise women have existed across various cultures.”

Efforts to broaden the curriculum and acknowledge the contributions of women philosophers face considerable challenges. The absence of an institutionalized history for women’s ideas not only hampers the dissemination of knowledge but also perpetuates a gender imbalance in academic philosophy. The early presence of women philosophers, such as Hipparchia of Maroneia, Arete of Cyrene, and Aspasia of Miletus, challenges the narrative that women were historically excluded from philosophical discourse.

But there is hope. While historical philosophers have been neglected and denied the credit they deserve for shaping philosophy to what it is today, the inclusion in the philosophical Western canon has gained momentum in the 20th and 21st centuries. Figures like Susanne Langer, G.E.M. Anscombe, Hannah Arendt, and Simone de Beauvoir have started to find a place in the canon.

A crucial aspect of addressing these issues involves acknowledging and correcting historical biases, recognizing the valuable contributions of women philosophers, and fostering a more accurate representation of philosophy's heritage to create a more equitable and comprehensive understanding of the discipline.

THE ENTERPRISE ENTERTAINMENT CALENDAR

DECEMBER

4-26 December (Sunday-Tuesday): Ali Badrakhan’s cinema, Zawya Cinema, Downtown.

4-9 December (Sunday-Saturday): City of the Lights Christmas Bazaar at Galleria40.

4-9 December (Sunday-Saturday): Christmas Book Fair at AUC Tahrir.

4-16 December (Sunday-Saturday): Tutankhamun: The Immersive Exhibition at the Grand Egyptian Museum.

6 December (Wednesday): ThatReallyCoolPopUp Market For Palestine at ThatReallCoolStudio, Zamalek.

7 December (Thursday): Arab Music Night at Malak Gabr Arts Theatre.

8 December-24 January (Friday-Wednesday): Cairo Art Fair at District 5.

8 December: The Gaza Monologues at Cinema Radio.

9 December (Saturday): Cairo Flea Market Xmas Edition at the Zamalek Fish Garden.

9 December (Saturday): CJC 610 x Alkemia Xmas Bazaar.

9 December (Saturday): Ashraf El-Ashmawi book signing event, Bibliothek Egypt, Arkan Plaza, Sheikh Zayed.

9 December (Saturday) Komedy Koshk Vol. 14 at Room Art Space.

11-12 December (Monday- Tuesday): Omar Khairat’s concerts, Cairo Opera House, Zamalek.

14-21 December (Thursday-Thursday): Gouna Film Festival (GFF), Gouna.

15-16 December (Friday-Saturday): Stories of Goha and Folktales of Yore by Act Theatre Group at Tahir Cultural Center.

22 December (Wednesday): The Christmas Show by Gaby Bishara at Theatro Arkan.

22 December (Wednesday): Tamer Ashour Live Concert at Dandy Mall.

23 December (Saturday): The Cairo Symphony Orchestra’s concert, Cairo Opera House, Zamalek.

25 December (Monday): Disney Classics concert, Cairo Opera House, Zamalek.

26-30 December (Tuesday-Saturday): NutCracker shows, Cairo Opera House, Zamalek.

31 December (Sunday): The Cairo Symphony Orchestra New Year’s Eve concert, Cairo Opera House, Zamalek.

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.

26 January-6 February (Friday-Tuesday): Cairo International Book Fair.

MARCH

11-12 March (Monday-Tuesday): Creative Industry Summit.

APRIL

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).

5 May (Sunday): Coptic Easter.

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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