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Thursday, 29 Aug 2024

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

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Today at a glance

1

The Big Story Today

B Investments to sell up to 30% stake in Gourmet.
2

TECHNOLOGY

Do you really accept these terms and conditions?
3

FOR YOUR COMMUTE

Unless you’re a bn’aire, stop investing like one.
4

FOR YOUR COMMUTE

Are the kids alright?
5

ON THE TUBE TONIGHT

When does curiosity become obsession?
6

Sports

The Egypt Cup will be seeing a new champion.
7

OUT AND ABOUT

Wegz concludes the summer season.
8

Ears to the Ground

What does your teacup think of you?

Thursday, 29 Aug 2024

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

WHAT WE’RE TRACKING TONIGHT

B Investments to sell up to 30% stake in Gourmet

Good afternoon, folks, and happy Thursday. It’s another calm afternoon to wrap up the work week. We hope you all have a lovely last weekend of August.

THE BIG STORY TODAY

B Investments to sell a minority stake in Gourmet this year: BInvestment plans to sell a 20-30% stake in its subsidiary Gourmet before the end of the year, Asharq Business reports citing three sources it says are close to the transaction.

Who’s interested? An initial decision has been made on one of the bids by an unnamed African company, one of the sources said, adding that the due diligence is currently underway and the company’s value is expected to surpass EGP 1.5 bn.

About Gourmet: The high-quality food emporium was founded in 2006 and currently operates 19 branches as well as two read-meal production factories. B investments acquired a 40% stake in the company towards the end of 2018 at an estimated cost of EGP 65 mn.

THE BIG STORY ABROAD

Nvidia is still in the international press spotlight as Wall Street continues to react to the fallout from the company’s 2Q earnings. While the company’s net income saw y-o-y growth of 168.2% — amounting to US 16.6 bn — AI investor cold feet saw Nvidia’s share price driven down in after-hours trading. (Bloomberg | CNBC)

Also sharing the spotlight is US presidential candidate Kamala Harris, who now leads the vote against Republican candidate Donald Trump by 13 points. The Reuters poll shows a 3% growth in the VP’s popularity since late July, just one month ago. Harris’s traction can be attributed to the interest of more women voters and more Hispanic voters, of which Harris leads by 36%-49% against Trump. The VP will be taking part in her first unscripted interview today in a bid to widen the gap across all fronts ahead of the November election. (Reuters | CNN)

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

  • A health check on Egypt’s startup scene in 1H 2024: The first half of 2024 was a turbulent one, with exchange rate instability, the float of the EGP, and rising interest rates.
  • It’s earning’s o’clock: As we get ready to enter September, companies are continuing to churn out reports for their 2Q and 1H earnings for the year, including IDH and Orascom Construction.
  • A first in Adabiya Port: Our friends at TCI, the Egyptian terminal operator unit of AD Ports, notched a first with their recent unloading of 75k metric tons of slag from a Panamax vessel in Adabiya Port.

☀️ TOMORROW’S WEATHER- The mercury is peaking in Cairo tomorrow at 36°C before simmering to a low of 26°C by nightfall, according to our favorite weather app. It’s a little cooler in Sahel and Alexandria, with highs of 31-32°C and lows of 25-26°C.

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2

FOR YOUR COMMUTE

Following wealthy investors won’t help you maximize returns

Unless you’re a bn’aire, stop investing like one. Turns out investment firms aren’t doing the middle class any favors by advising them to follow in the investment strategy footsteps of those with wealth to spare.

The argument: If wealthy individuals are able to grow even wealthier through investments, then giving lower income people access to the same options will help them maximize their profit, right? Wrong. Why?

Losing an investment just isn’t as much of a risk for the wealthy. A bn’aire can lose big on an investment and still continue to live in luxury. This is on top of the fact that they have access to wealth management companies that offer cheap liquidity at any time they need it, meaning that to them, investment is a form of consumption, not delayed consumption.

Large, high profile transactions tend to get personal. High-rollers may approach trophy assets based on its personal value to them, sinking mns into stock that is not necessarily profitable. They care more about the acquisition than its financial value or potential price-appreciation. But those tracking the movement of USD using tools like OpenInsider will only see a bn’aire make a large investment and go all-in alongside them, only to come out empty handed, or even worse, find themselves in a hole.

What’s harder than raising a teenager? Raising one from Gen Z. As if being a teenager wasn’t already hard enough — both on the teens and on the parents — Gen Z teens are now going through this transitional phase in the age of constant information, communication, and internet access. This means that what teens need now is completely different from what they needed before.

Are the kids alright? They might have been when The Who were touring, but a survey conducted by Gallup in March of this year reported that Gen Z kids felt more pressure to be perfect, with increased feelings of that anxiety among teen girls specifically. Alongside these worries is a blanket concern for their future. Two out of every three children polled reported genuine anxiety about what the world would look like by the time they are adults.

How can parents help? Combating external pressure is at the top of experts’ lists. Perfectionism, especially when meticulously curated lives are being presented on social media all day everyday, is a major stressor affecting childrens’ self esteem. The trick is to get your young one comfortable with making mistakes by helping them recognize when they’ve made one without reacting negatively to it.

Don’t let your teen brood. Some parents are under the impression that an upset teen wants to be left alone. The study says otherwise — teenagers find that talking things through is helpful, but don’t necessarily want advice. They want to be listened to and to be taken seriously, even during mood swings. Don’t question whether or not they should be having the feelings they’re experiencing, but whether those feelings fit the situation and whether they’re being managed.

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3

ENTERPRISE RECOMMENDS

Spying on the neighbors across the street

? ON THE TUBE TONIGHT-
(all times CLT)

When does curiosity become obsession? Newly moved in Pippa (Sydney Sweeney) and Thomas (Justice Smith) start noticing the perfect neighbors across the street more and more, enamored by their luxurious lifestyle. From their little apartment window, Seb (Ben Hardy) and Julia (Natasha Liu Bordizzo) become the focus of Pippa and Thomas’s interest.

But there’s more to the neighbors than they thought. It turns out that Pippa and Thomas aren’t the only voyeurs — Seb is a erotic photographer, and Julia’s complicated past draws the couple in deeper until they’re entangled in something they didn’t sign up for. What starts as a harmless — albeit slightly creepy — pastime becomes an all-consuming fire from which there is no escape.

This psychological thriller has hallmark twists and turns, but — while entertaining — does occasionally stretch the bounds of credibility. This results in a series of wild developments that might appeal to viewers looking for a thrilling ride, but may see others take to Letterboxd to drop a two-star review.

WHERE TO WATCH- You can watch the movie on Amazon Prime or watch the trailer (runtime:2:20).

⚽ La Liga’s third week is coming to an end. Las Palmas will host Real Madrid at 10:30pm tonight to close out the third gameweek of the Spanish league. Madrid’s first matches this season ended with a draw, but were followed by a three-goal victory against Valladolid — a streak of victory they hope to continue. Girona and Osasuna will also be meeting on the pitch today at 10:00pm.

The fourth week will kick off on Saturday, starting with Barcelona — still unbeaten — against Valladolid. The Blaugrana aims to collect more points at the expense of the Pucelanos.

The Egypt Cup is about to see a new champion. Neither finalist Pyramids or ZED have ever claimed the trophy before — or any trophy, for that matter. Pyramids managed to qualify for the final after a penalty victory against Al Masry, and ZED — which was recently promoted to the Egyptian Premier League — qualified at the expense of Ismaily.

This Saturday in the English Premier League: The third round of the Premier League will begin on Saturday with a match between Arsenal and Brighton at 2:30pm, followed by West Ham vs. Manchester City at 7:30pm.

More matches on Saturday, all beginning at 5pm:

  • Leicester City vs. Aston Villa.
  • Nottingham Forest vs.Wolverhampton.
  • Ipswich Town vs. Fulham.
  • Brentford vs. Southampton.
  • Everton vs. Bournemouth.

Don't forget to join our Enterprise Fantasy League using this code dlrxz4 or by clicking on this link.

The most prominent matches in the European Leagues this weekend:

  • Inter Milan vs. Atalanta — Serie A (Friday, 9:45pm).
  • Borussia Dortmund vs. Werder Bremen — Bundesliga (Saturday, 4:30pm).
  • Bayern Leverkusen vs. Leipzig — Bundesliga (Saturday, 7:30pm).
  • Athletic Bilbao vs. Atletico Madrid — La Liga (Saturday, 8:00pm).

? OUT AND ABOUT-
(all times CLT)

None other than Wegz to close out the iconic new Alamein Festival. The concert will take place tomorrow at 10pm at the U-Arena. You can grab your tickets here.

Don’t miss BUE Theatre Team’s Arees El Bahr play. The theater team has already performed at New Alamein and is now taking the show to Rawabet Art Space in Cairo tomorrow and Saturday. The show starts at 8:00 pm. Secure your spot here.

This is the last week you'll be able to fly through the sky on a paramotor. Sky Sports Egypt are offering a 15-minute bird’s eye view of Alamein in North Square until tomorrow. Buy your tickets here.

Tamer Ashour is taking over the Porto Said beach tomorrow. Gates open at 6:00 pm and the singer will take the stage at 8:00 pm. Get your tickets here.

Don't miss the chance to explore the diverse visual and cultural evolution of Egyptian film with the Afichat w Aflam exhibition at Bibliothek. This exhibition showcases a vast selection of late artist Pierre Sioufi’s collection of more than 10k pieces of Egyptian cinema memorabilia. The third edition is now on display, showcasing film posters and collectables from the 1990s to 2017, and will continue through to Monday, 2 September.

End Sahel season on a high note with Adriatique at AHM Club in Silversands, where you can dance the summer away, or what’s left of it. The event will take place this Saturday, 31 August, and you can get your tickets here.

HAPPENING LATER-

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 Tuesday, 3 September at 9:00pm. Grab your tickets here.

And if you want to LOL but Madinaty is too far away, the High Five stand up comedy show with Abdelrahman Mohamed, Badr Nour Eldin, Gamal Ramzy, Fekry Tarek, and Pola Samwel is coming to Theatro Arkan in Sheikh Zayed on Friday, 6 September starting 8:00 pm. Book your spot for the show 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.

!_StoryHed_! Let’s hear what the soda can has to say

!_StoryTags_! Ears to the ground

?EARS TO THE GROUND-

Objects are people too…? Everything Is Alive presents a unique and imaginative premise: unscripted interviews with inanimate objects played by improvisers. Hosted by Ian Chillag, the show is a whimsical exploration of everyday items — like playing cards, mouse traps, or paper towel dispensers — sharing their life stories.

It gets kind of deep. The episodes show seemingly trivial objects with a surprising depth of emotion and existential reflection. The items are granted personalities and voices to explore their purpose in the background of human existence. Don’t knock it till you try it.

Let’s hear what the soda can has to say. The premiere episode features a soda voiced by Louis Kornfeld — offering a tale of unfulfilled expectations as it sits forgotten in a refrigerator. The episode’s climax is this ritualistic act of consumption — someone drinks the soda can. We’re led into the final exchange between the human and the can in this absurd bittersweet moment that is somehow extremely touching.

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

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4

GO WITH THE FLOW

What the markets are doing on 29 August 2024

The EGX30 rose 0.2% at today’s close on turnover of EGP 6.6 bn (75% above the 90-day average). International investors were the sole net buyers. The index is up 23.6% YTD.

In the green: Emaar Misr (+5.0%), Beltone Holding (+3.9%), and TMG Holding (+3.9%).

In the red: ADIB (-2.4%), Elsewedy Electric (-2.4%), and Juhayna (-2.4%).

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This publication is proudly sponsored by

5

TECHNOLOGY

Do you accept these terms and conditions?

What are you really agreeing to when you accept terms and conditions? Clicking the little button without scrolling through the legally binding terms has become commonplace, a daily reality given how many websites we visit, services we sign up to, or apps we download. In fact, a 2017 study revealed that 91% of us never read the T&Cs they agree to.

Bigger and slightly scarier picture: An experiment conducted by a Washington Post writer found that, based on the number of apps on his phone, he would have needed between 83-110 hours to read all the privacy policies he agreed to. The word count? 1 mn. For context, the average book is around 80k words.

A man whose wife died at Disney World was almost cost the lawsuit thanks to the T&Cs. In late 2023, Kanokporn Tangsuan, a New York doctor, died from an allergic reaction after eating at a restaurant in Walt Disney World. Before the meal, the couple informed the servers of Tangsuan’s allergies more than once, and were reassured that their requests were taken into account as they were served. Despite using her Epi-Pen, Tangsuan passed away from anaphylaxis. Tanguan’s husband Jeffrey Piccolo is suing Walt Disney Parks and Resorts for wrongful death.

Disney says Piccolo waived his rights to sue the company when he signed up for a one-month trial of Disney+ in 2019. The T&Cs of the streaming service include a clause that requires users — even those who don't make it past the trial period — to relinquish their rights to any disputes with the company. Using the Walt Disney Parks website to buy tickets also shields them from a jury trial, their spokesperson said. Luckily, massive online backlash of Disney’s statements made them withdraw their claim to get the lawsuit thrown out.

This isn’t the first arbitration clause to help a company dodge accountability. Arbitrationclauses stop a lawsuit from going to trial, forcing the plaintiff to sign away their litigation rights and instead solve the dispute privately, a method that gives companies more control over the resolution.

So how many of our rights are we signing away? More than you think. All of the apps we use can access certain datasets stored on our phones, including location history, health history, financial information, and purchasing habits, and — through their T&Cs — give themselves the right to retain and use them, even after you delete that information off your phone. Social media platforms not only have access and rights to your information and its use, but also to your posts. Anything you upload is effectively theirs, even if you delete it.

And chances are you still won’t read the T&Cs. There’s no way to effectively escape signingaway our data and our rights while using the internet outside of throwing our phones away and going off the grid. But you don’t need to spend days reading the T&Cs to understand what you’re consenting to.

What to look out for: Anything written in all caps is especially important to pay attention to, as is the third-party agreement clause. This tells you what and how your information is being shared with the highest bidders. Check for options to opt out — sometimes, you will have the right to refuse your information being shared. Arbitration clauses are, as demonstrated, a big deal. You may not have to sue your local delivery app, but maybe you should keep your right to take up arms against financing or travel apps.

Still can’t be bothered? Tools like Terms of Service; Didn’t Read were created to do the legwork for you and alert you should any of the clauses need your attention.

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ENTERPRISE ENTERTAINMENT CALENDAR

AUGUST

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

11 June-2 September (Tuesday-Monday): Afashat w Aflam exhibition at Bibliothek.

11 July-30 August (Thursday-Friday): New Alamein Festival at North Coast.

11 July-30 August (Thursday-Friday): Paramotor Ride at North Square.

30-31 August (Friday-Saturday): Arees El Bahr play at Rawabet Art Space.

30 August (Friday): Wegz Live at New Alamein Festival.

30 August (Friday): Tamer Ashour concert at Porto Said Beach.

30 August (Friday): Luz Dé Groove at Leeloo Beach Club, Marsa Baghush.

31 August (Saturday): Adriatique at AHM Club in Silversands.

31 August (Saturday): Grill Setup Beach Edition Season Closing at KIKI’S Setup, Hacienda Heneish.

31 August (Saturday): Andromeda Pink Floyd tribute concert at Sawy Culture Wheel.

SEPTEMBER

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.

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): 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.

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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