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Tuesday, 3 Sep 2024

What We’re Tracking Tonight
For Your Commute
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Go With The Flow
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Today at a glance

1

The Big Story Today

PMI report sees Egypt’s non-oil private sector expand for the first time in 3+ years.
2

FOR YOUR COMMUTE

US judge blocks child online safety act.
3

ON THE TUBE TONIGHT

Just a teen solving a murder with no ulterior motives. Totally.
4

OUT AND ABOUT

Racines Day 1.
5

Ears to the Ground

Catch up on pop culture.

Tuesday, 3 Sep 2024

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

WHAT WE’RE TRACKING TONIGHT

Non-oil private sector activity grows after three years in contraction

Good afternoon, friends. It’s another busy day for business news in Egypt, with the release of S&P Global’s Egypt PMI for August, which showed activity growing after years in contraction.

THE BIG STORY TODAY-

We’re finally growing: Egypt’s non-oil private sector activity expanded in August for the first time in over three years, S&P Global’s Egypt Purchasing Managers’ Index (PMI) (pdf) report showed. The index rose to 50.4, finally crossing the 50.0 mark that separates growth from contraction, from 49.7 in July.

Thank macroeconomic stability: “The past three months of survey data has been broadly indicative of a stabilization in demand conditions, with many firms commenting on a market recovery amid improved macroeconomic factors and rising export business. This stability led firms to increase their activity for the first time in three years in August, although the pace of expansion was only marginal,” the report said.

THE BIG STORY ABROAD-

Netanyahu under scrutiny after hostage deaths: Over 100k Israelis are protesting and striking in demand of a ceasefire after the discovery of dead hostages earlier this week. In response, Netanyahu only stated that he would stay on task in ensuring continued Israeli control of the Philadelphi corridor along the Egyptian border with Gaza, from which he claims Hamas smuggles weapons. (Associated Press | Bloomberg)

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

  • Another uneventful Thursday ahead? The Central Bank of Egypt is expected to once again leave interest rates unchanged when it meets on Thursday, as persisting inflationary pressures keep potential rate cuts at bay.
  • GCC investors want a slice of Mount International: A number of undisclosed Saudi and Emirati investors — investment funds and family businesses — are in negotiations to acquire a 40% stake in Mount International School Community in a EGP 280 mn transaction.
  • Basata snaps up stake in MadfoatCom: Local fintech player Basata and the Jordan Kuwait Bank have acquired 27.1% of Jordanian bill payment provider MadfoatCom for an undisclosed sum.

☀️ TOMORROW’S WEATHER- The mercury is peaking in Cairo tomorrow at 33°C before simmering to a low of 25°C by nightfall, according to our favorite weather app.

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2

FOR YOUR COMMUTE

Last-minute ruling blocks child online safety act from passing

In a shock last-minute ruling, a US federal judge shot down a Texas bill to enforce child safety filters online. The Securing Children Online Through Parental Empowerment (SCOPE) Act was submitted to the Texas House Committee on Youth Health and Safety last year and expected to go into effect earlier this week before a last-minute ruling that called the act a “significant threat to online speech.”

What are the SCOPE requirements? The act would have compelled some web services to identify users registered under the age of 18 and filter the content they receive or are able to view, limit data collection, ban targeted advertising, and block any financial transactions without parental consent.

The target: SCOPE’s main concern is large social media platforms like Meta and TikTok, specifically those with “ harmful or obscene ” content that exceeds a third of all output. This includes content that “glorifies [suicide], self-harm, substance abuse, and grooming.” Any violators would have been required to provide an age verification method approved by the committee.

Three separate groups filed motions to prevent the law. NetChoice, the Communications Industry Association (CCIA), and the Foundation for Individual Rights and Expression (FIRE) claimed that the act was an unconstitutional violation of freedom of expression, which ultimately prompted action by Judge Robert Pitman to halt its application.

Some provisions will still be taking effect. The judge ruled that limiting data collection and requiring age verification were not a threat to the First Amendment, but believes that the definition of content that warrants restriction would be up to interpretation and “politically charged.”

This isn’t the first (or the last) bill of its kind, nor the first (or the last) to face judicial scrutiny. California’s Age-Appropriate Design Code has been introduced to and blocked by courts in Arkansas, Ohio, and Mississippi. Congress is currently working on the Kids Online Safety Act (KOSA), which sparked backlash from high school students, prompting 300 of them to protest at the congressional hearing. The bill passed with 91 votes in favor.

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3

ENTERPRISE RECOMMENDS

An amateur detective uncovers dark secrets in her small town

? ON THE TUBE TONIGHT-
(all times CLT)

A young detective uncovers dark secrets in her small town. A Good Girl's Guide toMurder is an intriguing six-part adaptation of Holly Jackson’s novel of the same name, which holds a magnifying glass to the world of teenage crime investigations.

What begins as a school project quickly spirals into a deep investigation that reveals long-buried secrets. Bright 17-year-old Pip Fitz-Amobi (Emma Myers) appears to lead a perfectly stable life —she has supportive parents, a close group of friends, and a bright future ahead. She becomes fixated on solving the mysterious disappearance of local teen Andie, believed to have been murdered by her boyfriend, Sal.

Pip’s obsession is a classic case of the meddling teenager whose actions create more chaos than resolution. Pip creates a murder board in her bedroom, connecting suspects and timelines in a childlike understanding of a professional, hunting down people from Andie’s past to form a narrative in hopes of finding closure.

The series sometimes feels rushed, particularly as it approaches the finale, making it difficult for the story to fully develop some of the intriguing concepts. But the show still maintains enough suspense and intrigue to keep viewers engaged throughout its six episodes.

WHERE TO WATCH- You can watch the show on Netflix or the trailer (runtime: 1:43).

⚽ The international break is still ongoing, and fans everywhere are waiting on match schedules from international federations.

? OUT AND ABOUT-
(all times CLT)

Tonight will be the opening of the Racines art exhibition at Art Corner Gallery in Zamalek at 7pm. The exhibition will run until Wednesday, 18 September.

Hesham El Garhy from Al Hezb El Comedy will be hosting a comedy night tonight at 10pm at CJC 610 in Sheikh Zayed. Message their Facebook page to reserve your seats.

Komedy Koshk + Boom Room: Prepare for a Stand Up Comedy Night with Khaled Jwad, Paula Rizk, Mohamed Farghaly, Engy Hashem, and Abdoul in collaboration with Komedy Koshk at Boom Room at Madinaty’s Open Air Mall. The event is scheduled for tonight at 9pm. Grab your tickets here.

For fans of Lege-cy, don't miss his live performance alongside DJ Totti at CJC 610 on Saturday, 7 September, at 10pm. Message their Facebook page to reserve your seats.

HAPPENING LATER-

Listen to people’s stories and tell your own at this interactive comedy show. Ain Gamal will take to the stage at the 6th edition MedFest EG. Enjoy the unique blend of comedy on Friday, 13 September at Ewart Hall in AUC Tahrir Square. Grab your tickets here.

Think you have what it takes to write a real page turner? Attend this Fiction Workshop withMai Serhan at Diwan Heliopolis and find out. The workshop will begin on Saturday, 14 September and sessions will take place every Saturday for six weeks. Book your spot here.

Creativity will be taking center stage at She Arts festival at AUC Tahrir. From Thursday, 26 September to Sunday, 29 September the event will feature a diverse lineup of artistic and musical performances — offering female artists from around the world a platform to express themselves, connect, and collaborate. Get your tickets here.

MENA’s first and only design-film festival is back:Film My Design festival is back for its third edition — under the theme Designing Our Lives for a Better Future —, taking place from Thursday, 3 October to Saturday, 12 October at Zawya Cinema. The festival features film screenings, masterclasses, a motion design exhibition, VR immersive experiences, and much more. Buy your tickets here.

? EARS TO THE GROUND-

A lively dive into everything pop. If you're into binge-watching, streaming the latest albums, or dissecting the quirks of your favorite reality shows, Pop Culture Happy Hour is a must-add to your playlist. Hosted by a charismatic crew, this show offers fresh commentary on all things entertainment.

In The Reality TV Shows We'd Actually Win, the hosts discuss something that’s crossed everyone’s minds. The banter between the hosts is both relatable and hilarious, and as they get real about which shows or competitions they think they’d dominate, our confidence in our chances on Chopped, Dating Around, and Survivor just keeps growing.

Whether discussing Oscar-worthy films or guilty-pleasure reality shows, they bring thoughtful perspectives while keeping things conversational. The rotating cast of guests only adds to the diverse opinions, ensuring that no corner of the pop culture universe is left unexplored.With short, punchy episodes perfect for your daily commute or afternoon pick-me-up, this podcast is a delightful way to stay in the loop.

WHERE TO LISTEN- You can listen to the podcast on Apple Podcasts, Spotify, and AmazonMusic.

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4

GO WITH THE FLOW

What the markets are doing on 3 September 2024

The EGX30 rose 0.9% at today’s close on turnover of EGP 5.0 bn (27.5% above the 90-day average). International investors were the sole net sellers. The index is up 24.6% YTD.

In the green: Abu Qir Fertilizers (+4.9%), Juhayna (+3.3%), and Cleopatra Hospitals (+2.4%).

In the red: Palm Hills Development (-1.7%), Eastern Company (-1.6%), and Orascom Construction (-1.1%).

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ENTERPRISE ENTERTAINMENT CALENDAR

SEPTEMBER

16 July-15 October (Tuesday-Tuesday): In the Company of Mahmoud Said exhibition at Aisha Fahmy Palace.

1-4 September (Monday-Wednesday): International Food, Beverage & SuperMarket Equipment Exhibition 2024 at Cairo International Convention Centre.

3 September (Tuesday): Komedy Koshk stand up comedy at Boom Room, Open Air Mall.

4 September (Wednesday): Back to school at CJC.

5 September (Thursday): Strawberry Swing, Coldplay Tribute concert at Sawy Culture Wheel.

6 September (Friday): The High Five stand up comedy show at Theatro Arkan.

12 September (Thursday): Idreesi Live in Cairo at Rawabet Art Space.

12-15 September (Thursday-Sunday): MEDFEST Egypt at AUC Tahrir Square.

13 September (Friday): Omar Khairat’s concert at ZED Park.

13 September (Friday): Ain Gamal X 6th edition MedFest EG at AUC Tahrir Square.

13 September (Friday): 100 Years of Singing Concert with Ali El Haggar at Cairo Opera House.

14 September - 19 October (Saturday-Saturday): Fiction Workshop with Mai Serhan at Diwan Heliopolis.

15 September (Sunday): National holiday in observance of Prophet Muhammad’s birthday (TBC).

19 September (Thursday): Omar Khairat concert at ZED Park.

20 September (Friday): Bikers Automotive Festival at El Leila El Kebira.

23-24 September (Monday-Tuesday): Omar Khairat concert at Cairo Opera House.

26-29 (Thursday-Sunday): She Arts festival at AUC Tahrir.

OCTOBER

6 October (Sunday): Armed Forces Day.

3-12 October (Thursday-Thursday): Film My Design festival at Zawya Cinema.

10-12 October (Thursday-Saturday): EVs Electrify! Expo & Conference 2024 at Egypt International Exhibition Center.

13-17 October (Friday-Tuesday): Cairo Water Week at The New Administrative Capital.

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

NOVEMBER

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

DECEMBER

14 December (Saturday): The Marakez Pyramids Half Marathon.

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