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WHAT WE’RE TRACKING TONIGHT

Unnamed Chinese company plans USD 360 mn tire plant venture

Good afternoon, friends, and happy Thursday. We wish you a warm weekend filled with family and friends.

THE BIG STORY TODAY

Egyptian-Chinese venture in the works for a USD 360 mn tire plant: An unnamed Chinese company plans to set up a tire plant in Egypt with initial investments of USD 360 mn, Asharq Business reports, citing what it says are two informed sources. The project is set to be established in partnership with the Arab organization for Industrialization (AOI), which will own 48% of the joint venture and will provide the land for the factory, while the Chinese company will own the remaining share and will be responsible for securing the financing. The plant is expected to start operations by the end of 2025, with an annual capacity of 6 mn tires in its first phase and 12 mn tires eventually.

THE BIG STORY ABROAD

A free-reign second term awaits the US President-elect Donald Trump, political analysts argue. Many have been calling this year’s elections a repeat of 2016, but experts are anticipating that it was just a taste of the limits of Trump’s power. The past eight years has seen the formation of a conservative-leaning judiciary seemingly primed to accept Trump as the 47th US president, with the few congressional Republicans that criticized him being replaced by those who view him favorably.

While Democrats still have a chance to clinch control of the House, allowing them to block legislative moves by his administration, the ongoing elections seem to be favoring a Republican majority, currently with 206 seats compared to the Democrats’ 191. The parties need 218 seats for a majority advantage. The Senate is also predicted to be Republican-heavy, with the party expected to secure between 52 and 57 seats out of the available 100. (Reuters | AP)

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

  • The revamped privatization program is around the corner: Investment Minister Hassan El Khatib will unveil the revamped privatization program before the end of the month.
  • Fuel subsidies soared in 1Q FY 2024-25: The Madbouly government spent EGP 28.5 bn on fuel subsidies in 1Q of the current fiscal year, marking a 232% increase from the EGP 8.6 bn spent during the same period last year.
  • CBE resumes USD access for car importers: The Central Bank of Egypt has instructed banks to begin processing car importers’ requests for USD-denominated letters of credit, ending a six-month halt.

☀️ TOMORROW’S WEATHER- The mercury will be dropping a degree below the sudden rise in temperatures, and we’ll be seeing a high of 28°C and a low of 18°C in the capital tomorrow, according to our favorite weather app.

2

FOR YOUR COMMUTE

Apple says its most lucrative days are behind it

Apple recently warned investors that future products probably won’t reach the profitability heights of the iPhone. In the company’s latest annual report, it acknowledged that the emerging ventures — like AI and VR — may not yield returns comparable to the iPhone, the tech giant’s long-time key revenue driver. The company’s statement noted that “new products, services, and technologies may replace or supersede existing offerings, and may produce lower revenues and lower profit margins.”

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

Apple’s trying to catch up with the AI industry. The company has rushed headlong into the field with large investments to compete with companies like Google and Meta, which were quick to jump on the bandwagon after OpenAI. While this signals a pivot in strategy that investors were awaiting with bated breath, it also carries financial uncertainties demonstrated by early adopters.

The long-term revenue generation of the iPhone: The concern is that iPhone’s high margins are bolstered by services like subscriptions and cloud storage that allow the product to provide continuous revenue, whereas Apple has yet to monetize its AI features — which are still rolling out — independently.

They’re facing some potential penalties as well. Sources have confirmed that Apple may face fines for intentionally stifling developers’ ability to promote cheaper offers outside the App Store. These fines could permanently impact its lucrative services sector, according to FT .

3

ON THE TUBE TONIGHT

OBX is back with another treasure hunt

? The Pogues are back. The group of teens have regrouped on their never-ending treasure hunt shenanigans in Outer Banks Season 4. This season blends familiar elements with much-welcomed evolutions of the characters, with a noticeable shift away from the juvenile drama that sometimes plagued earlier seasons. Instead, the focus has turned to character growth and a deeper sense of community among the Pogues.

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

These kids are ready to embrace a new chapter in their lives. Spoilers ahead. After the events of season 3 — where they finally found the city of gold — the Pogues are more stable and whole lot richer. They leverage their unexpected wealth to create opportunities for themselves, showing a refreshing emphasis on their desire to mature and avoid unnecessary conflict. The microcosmic class war has also been toned down, allowing space for nuanced discussions about what the characters face.

It wouldn’t be Outer Banks without a treasure hunt. The series stays true to form by introducing a new conspiracy that connects several characters. The plot thickens with intriguing new villains and secrets, keeping the storyline fresh despite the similar premise. They’ve struck a good balance between honoring the show’s established dynamics and introducing new challenges, giving us something that feels fresh but familiar to watch.

WHERE TO WATCH- You can watch the show on Netflix, or find the trailer on Youtube (runtime: 2:28).

4

Sports

You’re set on the football front this weekend

The second matchday of the Nile League kicks off, with Al Ahly facing off against ZED at 8pm tonight. Tomorrow, Zamalek will meet Smouha on an Alexandrian pitch, with the match kicking off at 5pm, while Pyramids go head to head with Enppi at 8pm for a Friday night showdown.

Other matches we’re keeping an eye on today and this weekend:

  • Ghazl El Mahalla vs. El Gaish (5pm).
  • Al Ittihad vs. Haras El Hodood (5pm).
  • Al Masry vs. El Gouna (Saturday, 5pm).
  • Ceramica Cleopatra vs. Ismaily (Saturday, 8pm).

A combined thirty five games are set to wrap the fourth matchday of the Europa League and the third matchday of the Conference League tonight. Here are our picks on what to keep an eye on this evening:

  • Galatasaray vs. Tottenham — Europa League (7:45pm).
  • Union Saint-Gilloise vs. Roma — Europa League (7:45pm).
  • Eintracht Frankfurt vs. Slavia Praha — Europa League (7:45pm).
  • Man United vs. PAOK — Europa League (10pm).
  • Lazio vs. Porto — Europa League (10pm).
  • Chelsea vs. Noah — Conference League (10pm).

The final super saturday before the long international break: Premier League matchday 11 kicks off on Saturday with six matches on the list. Leading the lineup is Liverpool, sitting at the top with 25 points, going head-to-head with Aston Villa (in 6th with 18 points) at 10pm. Earlier that day, Man City (in 2nd with 23 points) will be facing off against Brighton (in 8th with 16 points) at 7:30pm.

Kick-offs at 5pm include:

  • Wolves vs. Southampton.
  • West Ham vs. Everton.
  • Brentford vs. Bournemouth.
  • Crystal Palace vs. Fulham.

Join the many Enterprise readers competing for glory in the Premier League Fantasy League using the code dlrxz4.

At the Bernabeu, Real Madrid aims to bounce back: Real Madrid — currently sitting second on the leaderboard — will be facing off with Osasuna at 3pm on Saturday in La Liga’s matchday 13. The team is gunning for three points to reclaim their journey to victory after a 4-0 Clasico loss and a 3-0 setback to AC Milan in the Champions League.

Here are the must-watch matches from Europe’s top leagues this Saturday:

  • FC St. Pauli vs. Bayern — Bundesliga (4:30pm).
  • VfL Bochum vs. Leverkusen — Bundesliga (4:30pm).
  • Mainz vs. Dortmund — Bundesliga (4:30pm).
  • Cagliari vs. Milan — Serie A (7pm).
  • Juventus vs. Torino — Serie A (9:45pm).
  • Angers vs. PSG — Ligue 1 (10pm).
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5

OUT AND ABOUT

Authentic Egyptian vocals + Some puppy love

HAPPENING THIS WEEK-

? Enjoy some authentic Egyptian vocals with Saad Eloud. The live show will take place tonight at Theatro Arkan. Grab your tickets through Ticketsmarche.

Cuddle with some puppies. The Animal Protection Foundation is hosting an open day where people can visit and see the shelter, play with the rescues, and show their support. Whether you’re looking to adopt or just play with some dogs, everyone is welcome. The open day will take place this Saturday, 9 November from 11am till 3pm, and APF is providing buses to get you to the shelter from Tagamoa, Downtown, and Sheikh Zayed.

Anghami presents El Hadaba. Join Amr Diab for this luxury open-air concert, followed by an electrifying closing act by Desiree. This is an exclusive VIP event that will take place tomorrow, 8 November at Cairo Gate Compound, Sheikh Zayed. You can grab your tickets from Ticketsmarche — but beware they are on the pricier side.

Watch a blind date happen live. Binge Circle are hosting the first ever The Blind Date Show:Live on Stage. Two strangers will meet and converse from behind a curtain and decide whether it will be a night to remember — or a date they’d rather forget. The event will take place tomorrow at Trivium Square. Tickets are available at Collard Tickets.

Shop for the winter at the next edition of the Cairo Flea Market. CFM is back on Saturday, 9 November at the Fish Garden in Zamalek, starting at 10am and ending at 7pm. The flea market boasts beautiful artisan crafts, vintage items, and pre-loved clothes.

Calling all plant parents. The autumn edition of the International Flower Expo is still running until Sunday, 10 November at Al Horreya Garden. Take home anything from ornamental plants, trees, and all different kinds of flowers.

HAPPENING LATER-

For their first time in Egypt, The Royal Philharmonic Orchestra is planning two concerts at the Grand Egyptian Museum. Accompanied by award-winning Egyptian musicians Amira and Mariam Abu Zahra, and conducted by Maestro Stephen Bell, the concert will take place on Thursday and Friday, 15 and 16 November at 8:30 pm. Tickets for the first and second shows are available on TicketsMarche.

Attention, fitness fanatics. The ELFIT Championship features 1.2k athletes from over 55 countries competing for the ELFIT Champion title. The event will take place from Wednesday, 13 November till Saturday, 16 November at the New Capital Sports City. Grab your tickets from Ticketsmarche.

A night with Abdel Halim Hafez’s music. The Sawah concert with Medhat Saleh and Mai Farouk will take place at the Grand Egyptian Museum on Thursday, 5 December at 8:30 pm. Tickets are available on the TicketsMarche.

Masked viral singer Tul8te is taking the stage at ZED Park as part of The Cocktail Tour on Thursday, 5 December. Tickets are available on Ticketsmarche.

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.

6

Ears to the Ground

Families asking the painful questions

? Imagine sitting down with your parents and asking the one question that has lingered in the back of your mind, yet has never been spoken aloud. In The Apple and the Tree, Vogue Williams gives families the opportunity to unearth the parts of family life that remain buried, offering the chance for parents and their adult children to delve into questions of identity, love, loss, and the legacies that shape who they are.

In one moving episode, we meet Iman and her mother, Shahla, in Brighton. Iman is curious about her mother’s past, particularly her experience moving from Pakistan to England as a teenager, and the resilience that journey required. Their discussion is raw, exploring the grief of losing Iman’s father during lockdown, a loss that has forever changed their bond. The two also touch on Shahla’s experience with miscarriages and Iman's hopes for her mother’s future, given that Shahla is still in her mid-40s with so much ahead of her.

Each episode is recorded in the guests’ homes, and the setting amplifies the feeling that you’re right there with them, leaning in as they share their innermost feelings. As Williams and her guests unpack their revelations at the end of each episode, the question lingers: Does the apple fall far from the tree? It really sets as a reminder of the power of connection, vulnerability, and the stories we often leave untold in our closest relationships.

WHERE TO FIND IT- You can listen to the podcast on Apple Podcasts and Spotify.

7

GO WITH THE FLOW

What the markets are doing on 7 November 2024

The EGX30 rose 0.7% at today’s close on turnover of EGP 4.3 bn (1.8% above the 90-day average). Local investors were the sole net buyers. The index is up 25.6% YTD.

In the green: Elsewedy Electric (+4.5%), Ezz Steel (+2.6%), and TMG Holding (+2.4%).

In the red: Oriental Weavers (-2.3%), Edita (-2.0%), and Emaar Misr (-1.2%).

This publication is proudly sponsored by

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HEALTH

The world is facing a historic dip in fertility rates, and Egypt is no exception

We’re in the midst of a global fertility crisis: The UK’s fertility rate has hit an all-time low of 1.44 children per woman, mirroring a global trend as societies across the world become richer and more secular, The Guardian writes. Most countries have fallen below replacement-level fertility of 2.1 children per woman — the level at which a population replaces itself from one generation to the next.

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

ICYMI- Om El Donia is no exception: Egypt’s fertility rate has declined to 2.54 children per woman in 2023 from 3.5 in 2014. The population hit 107 mn on Saturday, growing by 1 mn in 268 days. By contrast, the population’s previous 1 mn increase took only 250 days. Director of the Planning Ministry’s demographic center Amira Tawadros told EnterpriseAM that the drop reflects the government’s successful family planning efforts through the National Family Development Program, which works across all state entities and utilizes digital tools to lower birth rates.

The global population is also aging: While fertility rates are declining, life expectancy is rising, with the demographic makeup of the UK, Europe, North America, and most of Asia transforming radically, the news outlet writes. For instance, the ratio of people of working age to people of retirement age in the UK has dropped from over five workers to one retiree in the 1950s to just three workers for every retiree today, with the ratio expected to approach 1.7 workers per retiree by the end of the century.

Some argue the double whammy weighs on public finances: The demographic shift exacts a toll on fiscal revenue and public expenditure, tilting the scales between the number of people who pay taxes and those who receive healthcare and pension support. Demographer and author Paul Morland argues that countries with the largest aging populations — such as Greece, Italy, and Japan — have some of the highest levels of government debt to GDP, in part because aging cohorts require significantly more health spending than the working-aged.

Others praise the shift as an ecological boon: Plummeting fertility rates are a “cause for celebration,” argues Population Matters CEO Amy Jankiewicz, explaining that forecasted rates of population growth are “not sustainable” given their adverse impacts on the environment and wildlife.

Immigration offers a myopic solution at best: To address workforce gaps, European countries have relied heavily on immigration. However, this policy raises its own challenges, including political backlash and concerns about draining talent from developing nations. Additionally, Morland argues that to sustain this policy, almost 50% of the UK’s population would have to be foreign-born by the end of the century.

One response has been a surge of pro-natalism: Morland is among the advocates of natalism, a philosophy which promotes increasing birth rates via either choosing to have a larger family or supporting state policies that encourage high fertility. States that have adopted pro-natalist policies are increasingly subsidizing daycare and extended parental leave in order to lower the perceived and actual costs of childbearing — while those in predominantly poorer, high-fertility countries seek to limit their childbearing in the face of high costs.


NOVEMBER

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

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

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

7 November (Thursday): Saad Eloud live at Theatro Arkan.

8 November (Friday): The Blind Date Show: Live on Stage at Trivium Square.

8 November (Friday): Amr Diab at Cairo Gate Compound.

8 November (Friday): Peace Cake Live Experience at Trivium Square.

8 November (Friday): “Punch Needle, Not People” workshop at Darb 15 (Maadi).

7-9 November (Thursday-Saturday): SYNC Summit 2024 at District 5, Marakez.

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

8 November (Friday): Start of the Double Dribble League at Maadi Sports Club.

9 November (Saturday): Cairo Flea Market at Zamalek’s Fish Garden

9 November (Saturday): Animal Protection Foundation open day at APF Shelter.

9-10 November (Saturday-Sunday): I Fell in Love play at Rawabet Art Space

12 November (Tuesday): El Khatba Show at Boom Room.

13-16 November (Wednesday-Saturday) : ELFIT Sports Competitions at New Capital Sports City.

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

15 November (Friday): Tamer Ashour at Malahy.

15 November (Friday): Charity concert at the El Qubba Presidential Palace.

15 November (Friday): Circoloco Ibiza at the Giza Pyramids.

16 November (Saturday): Tablet El Sitt show at Theatro Arkan.

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

16 November (Saturday): Open Mic at Room Garden City.

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

22 November (Friday): Sharmoofers at Malahy.

24 November (Sunday): Omar Khairat concert at Monaco Hall, Triumph Luxury Hotel.

DECEMBER

5 December (Thursday): Muslim at Theatro Arkan.

5 December (Thursday): Tul8te at ZED park.

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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