The trust issue

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WHAT WE’RE TRACKING TONIGHT

Madbouly announces formation of new private sector advisory committees

Good afternoon all you wonderful people, and welcome to the weekend. Amid a relatively light news day, we have all the latest for you on the latest TikTok controversy and the best things to watch, read, and eat this weekend.

THE BIG STORY TODAY

SMART POLICY- Prime Minister Moustafa Madbouly has announced the formation of six economic advisory committees that will ensure continued and deepened communication between policymakers and the private sector as the state pushes its reform drive into the new year.

The government knows its priorities: Madbouly has identified six focus areas in which the government aims to ensure private sector involvement in the policy-making process, including macroeconomics, export development, digital economy and entrepreneurship, tourism development, political affairs, and urban development and real estate exports.

You’ve surely heard these names before: Each committee hosts a number of senior executives, experts, and private sector investors, including EFG Holding's Karim Awad, Actis’ Sherif ElKholy, HSBC's Helmy Ghazi, Palm Hills' Yasseen Mansour, El Sewedy Electric's Ahmed Elsewedy, Ora's Naguib Sawiris, Eva Pharma's Riad Armanious, Edita's Hani Berzi, Travco's Hamed El Chiaty, and economist Medhat Nafei.

What we know: Each advisory committee will be chaired by Madbouly and will meet at least once a month or as needed, according to the statement. No date for the committees’ initial sessions was specified.

Check out the full list:

Macroeconomics Committee: Hussein Eissa, Khaled Sakr, Omnia Helmy, Hassan Heikal, Sherif El Kholy, Karim Awad, Mohamed Fouad, and Medhat Nafei.
Export development Committee: Omar Mehana, Tarek Tawfik, Ahmed Ezz, Hani Berzi, Abdel Hamid El Demrdash, Ayman Ashry Morgan, Riad Armanious, Alaa Arafa, Ahmed Elsewedy, Hani Cassis, and Fadel Marzouk.
Digital Economy and Entrepreneurship Committee: Mohamed Azab, Karim Beshara, Amal Anan, Wael Abouelmaaty, Maged Mahmoud, Tamer Ismail, Louay Youssef, Dalia Ibrahim, Helmy Ghazi, Omar Elsahy, Tamer El Raghy, Mohamed Okasha, and Hossam Seif Eldin.
Tourism Development Committee: Hisham Talaat Moustafa, Kamel Abu Aly, Hamed El Chiaty, Hossam El Shaer, Ahmed El Wassief, Mohamed Nader Hesham, and Bassel Sami Saad.
Political Affairs Committee: Aly Eldin Helal, Abdel Monem Said, Mohamed Kamal, and Gamal Abdel Gawad.
Urban Development and Real Estate Export Committee: Mahmoud El Gammal, Naguib Sawiris, Yasseen Mansour, Khaled Abbas, Amr Soliman, Tarek Shoukry, Ahmed Shalaby, Amgad Hassanein, and Ashraf Arafa.

THE BIG STORY ABROAD

Saudi Arabia aims to invest USD 600 bn in the US during President Donald Trump’s tenure, Saudi crown prince Mohamed bin Salman reportedly told Trump during a phone call congratulating Trump on his inauguration. The news follows Trump’s comment earlier this week that he would be willing to make Saudi Arabia his first trip abroad as president if the kingdom agreed to buy USD 500 bn in American goods.

A record number of US companies are eyeing an exit from China in anticipation of trade disruptions related to Trump’s tariff agenda, a new American Chamber of Commerce in China survey has found. Thirty percent of respondents were looking into or in the process of moving operations elsewhere, with industrial, tech, and R&D firms leading the exodus. “I don’t see any reason to think that bilateral investment will increase in the next couple of years,” AmCham China president Michael Hart told the outlet. “Companies [are] pivoting or bolstering their supply chain by making investments somewhere else.

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

Suez Canal traffic could normalize within weeks: Egypt is set to receive a fleet of vessels from the French shipping line CMA CGM today, giving us reason to believe the ceasefire in Gaza has set the stage for Suez Canal traffic returning to normal.
Egypt plans to issue USD 1-1.5 bn worth of eurobonds or green bonds in international markets as soon as next month, followed by an issuance of sovereign sukuk, to take advantage of rising investor interest in Egyptian debt.
Enter, BONY.CA. Real estate investment firm Bonyan has secured approval from the EGX’s listing committee to list its shares on the EGX under the ticker symbol BONY.CA.

☀️ TOMORROW’S WEATHER- Temperatures are maintaining their stability in the capital tomorrow, with the mercury set to rise to 22°C in the morning and 13°C at night, according to our favorite weather app.

Trust in social media platforms faces new test amid Trump takeover

Users worry that Trump’s tech bros are beginning to enforce pro-MAGA policies on social media platforms. Ongoing challenges around moderation transparency are being exacerbated by US President Donald Trump’s rise to power and visible tech-political relationships, as reports of policy changes on TikTok, Facebook, Instagram, and X deepens long-standing trust issues between users and social media platforms that include skepticism about platform independence and commitment to user interests and autonomy.

TikTok is facing accusations of censoring comments. After regaining access to the platform, US citizens were quick to notice a troubling development, with the app blocking any comments related to the liberation of Palestine. Screenshots of error messages circulated on platforms like X and Bluesky, 404Media reports, fueling accusations that TikTok’s algorithms were suppressing political expression. This discovery came just as TikTok resumed service in the US following a brief outage linked to tensions with President Donald Trump’s 2016 administration, ultimately relieved by Trump as an early order of business during his second term.

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

Technical glitch or something more? These spokespersons denied to 404Media any policy changes or deliberate suppression, attributing the issue to “temporary instability’’ caused by efforts to restore full functionality, The company assured users that no restrictions on the phrase exist within its community guidelines. For now, the company’s explanation leaves a lingering question: was this truly a technical hiccup, or is there more at play?

An emerging pattern: Facebook users have also been claiming forced subscriptions to Trump. As the US president stepped into his second term, users flooded social media with complaints about suddenly finding themselves subscribed to Trump’s Facebook page. Some swore they had never hit the follow button, rolling out the carpet for conspiracy theories about Meta’s increasingly overt allegiance. However, Meta dismissed the claims of forced subscriptions, chalking up confusion to how accounts transition between administrations.

Despite their explanation, Meta faced another backlash as users reported being unable to unfollow Trump’s official Instagram account. Since Trump gained control of the @POTUS and @VP accounts with his inauguration, some users complained that they were being stuck with unwanted political content, and that hitting the unfollow button on the newly transitioned accounts wasn’t effective. Meta admitted that technical issues had prevented some users from unfollowing the accounts, but denied premeditation. While the company promised a fix, the incident added fuel to ongoing concerns about how tech platforms will be handling political content during Trump’s second term.

As Trump settles back into the White House, the influence of tech b’naires looms larger than ever, raising questions about their sway over his policies. The scene at Trump’s inauguration underscored this dynamic, with tech titans like Meta’s Mark Zuckerberg, Amazon’s Jeff Bezos, and Elon Musk occupying seats typically reserved for high-ranking officials. All three of these figures had once vocally opposed Trump, but now stand to gain much from currying his favor, perhaps compromising an unbiased algorithm to appease the oligarch.

Thirteen years of regret in Syria

? A haunting portrait of Syria through one family’s eyes: Adapted from the novel The Threshold of Pain by the late Syrian novelist Hassan Sami Youssef, and brought to life by director Allaith Hajjo, this compelling drama follows a solitary 40-year-old novelist as he wrestles with his past while penning his life story. Through his words, we witness a world torn between vibrant memories of the past, and a present haunted by poverty and the echoes of destruction.

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

Before war changed everything, Urwa (Mahmoud Nasr) shared a home in Damascus with his family: a stern, self-made merchant father, Abu Abdo Alghoul (Salloom Haddad), who openly favors some of his children over others, a peacekeeping mother (Samar Sami) who holds the family together, and his siblings, each carrying their own burdens. There is the ambitious eldest brother Abdulkarim (Bassem Yakhour), the depression-plagued Suhail (Ahmad Al-Ahmad) who eventually flees his father’s iron fist, and Nada (Rana Karam), the beloved youngest sister who brings light into their home.

As Baghdad falls and turmoil sweeps across the Levant from 2003 to 2016, we watch as this once tight family unit unravels, each member haunted by choices they can’t undo.

Even nine years after its debut, Al Nadam stands as a masterpiece of Syrian television, painting an intimate portrait of a nation’s transformation through the lens of one Damascene family. The series’ brilliant use of color tells its own story — Urwa’s past blooms in rich, vibrant hues, while his present unfolds in stark black and white, perfectly capturing the weight of loss.

While some viewers may find the 30-episode run lengthy, the outstanding performances and intricate character development, backed by masterful storytelling, make this meditation on family, war, and regret an essential view.

WHERE TO WATCH- You can find Al Nadam on Shahid, or watch an unofficial trailer on YouTube (runtime: 8:11).

Marmoush to Man City + A packed weekend with football, handball, and tennis on the docket

⚽ Marmoush finally makes the switch: Manchester City have secured the signing of Egyptian forward Omar Marmoush from Eintracht Frankfurt, with the striker penning a deal that runs until 2029. While City haven’t revealed the transfer fee, reports suggest that the deal is worth around EUR 75 mn. The move to the Premier League champions marks a major milestone for the 25-year-old, who has been in top form this season across all competitions — netting 20 goals and setting up another 14 in just 26 appearances for Frankfurt.

Marmoush’s journey to English football began when he left the homegrown Wadi Degla for Wolfsburg in 2017. After stints at several German clubs, he is now set to test himself in the Premier League.

⚽ As the Egyptian Premier League wraps up its ninth week, all eyes are on today’s matchups. Petrojet will be welcoming Al Masry for a 4pm kickoff, while Zamalek travels to face Modern Sport at 7pm. The title race remains tight as The White Knights sit in third place with 17 points — just three points behind league leaders Pyramids and two behind second-placed Al Ahly — and The Greens are still very much in the hunt, occupying fifth place with 15 points.

Key matches taking place today in the seventh round of the European League:

Fenerbahce vs. Lyon (7:45pm)
Hoffenheim vs. Tottenham (7:45pm)
Lazio vs. Real Sociedad (10pm)
Man United vs. Rangers (10pm)

The major European leagues are back this Saturday with new rounds starting in England, Spain, Italy, Germany and France.

Premier League fans are in for another thrilling Saturday, headlined by a blockbuster clash between Manchester City and Chelsea at 7:30pm. The high-stakes encounter sees the fourth-placed Chelsea taking on fifth-placed Man City in what could prove to be a pivotal match in the 23rd round of the season.

The rest of Saturday's matches start at 5pm:

Southampton vs. Newcastle
Bournemouth vs. Forest
Brighton vs. Everton

La Liga’s title race heats up this Saturday as league leaders Real Madrid travel to Valladolid as part of the 21st round for a late night head-to-head at 10pm. Earlier in the day, the second-placed Atletico Madrid will look to keep pace when they welcome Villareal to the Metropolitano pitch for a 5:15pm kickoff.

Italy’s Serie A is delivering an anticipated lineup this Saturday, as league leaders Napoli host Juventus at 7pm in a crucial 22nd round matchup. The Partenopei currently hold a three-point cushion over second-placed Inter, who still have a game in hand — while Juve sits 13 points away from the top of the leaderboard in fifth place.

What we’re following in the major European leagues on Saturday:

Como vs. Atalanta — Serie A (4pm)
Dortmund vs. Bremen — Bundesliga (4:30pm)
Leipzig vs. Leverkusen — Bundesliga (4:30pm)
Freiburg vs. Bayern — Bundesliga (4:30pm)
Sevilla vs. Espanyol — La Liga (7:30pm)
Paris Saint-Germain vs. Reims — Ligue 1 (10:05pm)

? Meanwhile, our homegrown team will be facing a challenge in their World Championship campaign, taking on Slovenia on Friday at 7pm in their second main round fixture. The Pharaohs are currently fourth in their group on a goal differential — level with Croatia and Slovenia — after yesterday’s defeat against group leaders Iceland.

? Tennis fans will want to set their alarms early tomorrow, as the Australian Open semifinals kick off before dawn. World No. 7 Noval Djokovic will be squaring off against second-ranked Alexander Zverev at 5:30am Cairo time, while defending champion and World No. 1 Jannik Sinner takes on surprise underdog Ben Shelton, ranked 20th in the world.

They hoop, they score

MARK YOUR CALENDAR-

Catch the grand finale of the Double Dribble Basketball League at Heliopolis Sporting Club Shorouk on Saturday, 1 February. The event will start at 4pm and will run until 8pm, featuring matches between New Giza and Maadi Retro, along with the third place match between Negm El Geil and Underdogs. If that’s not enough, there's also going to be an exclusive performance from Egyptian rapper Moscow.

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

HAPPENING THIS WEEK-

Treat your ears to some Egyptian folk music: Sohba Semsemia brings you a vibrant singing and dancing show featuring traditional simsimiyya and tanbura music. Catch their performances at Rawabet Art Space from Wednesday, 8 January until Saturday, 1 February. Tickets are available on Ticketsmarche.

The band Wust El Balad are lighting up the CJC 610 stage tonight with all their greatest hits. Doors open at 8pm, and the concert starts at 10pm, book your tickets on the official CJC website.

It’s time for the country’s largest book fair. The Cairo International Book Fair is back for its 56th edition starting tomorrow and continuing till Wednesday, 5 February. The event will take place at the Egypt International Exhibition and Convention Center in New Cairo, and will host guests of honor that include the Sultanate of Oman, scientists and artist Ahmed Mostageer, and author Fatma Elmadoul.

A comedy show full of surprises and a hilarious lineup: The Out of Eight group — which features Ahmed Flex, Fady Refaat, Mohamed Belal, Youssef El Harany, Abood, Karim Wael (Keka), Ahmed Bahaa, and Mohamed Soliman — will be bringing endless laughter to their show at Rawabet Art Space tonight. Get your tickets on Ticketsmarche.

Maybe you’re craving some timeless tunes: The Arab Music Institute is hosting an Abdelhalim Hafez tribute night tomorrow, where you’ll get to experience nostalgia and love for the artist that touched hearts for generations. Tickets are available on Tazkarti.

Rev up your engines, car lovers: MM Events is here with an unforgettable car show with mind-blowing innovations, game-changing reveals, and all the latest trends shaping the future of cars. Mark your calendars for this high-octane experience on Friday, 24 January at Ain El Hayah resort. Tickets are available on Collard Tickets.

This one is for the curious: Don’t miss out on Dangerous Experiment at Teatro Al Assema, an eye-opening, hour-long lecture by Dr. Khaled Ghattass where he delves into topics like relationships, life choices, and societal challenges — with a 20-minute Q&A session at the end. The lecture will take place on Friday, 24 January. Get your tickets on Ticketsmarche.

HAPPENING LATER-

The story behind the music. Egyptian singer and composer Dina El Wedidi will be showcasing the story behind some of her signature songs and walking the audience through her journey on Wednesday, 29 January at the Boom Room in Open Air Mall, Madinaty. The event will take place at 8pm, and tickets are available on Ticketsmarche.

160 of Egypt’s most celebrated and promising artists. The 10th Edition of Cairo Art Fair is now open at TAM Gallery in Abu Rawwash and will continue running till Friday, 31 January.

The ultimate gaming event in Egypt is here. Gamergy Egypt will feature live competitions, immersive experiences, and activities to bring together gaming fans of all ages. The festival will take place from Thursday, 30 January to Saturday, 1 February at Al Burouj Cultural Hub. Earlybird tickets are now available on their website.

Catch Saleh El Nawawy’s comedic debut: The Dubai-based filmmaker and comedian will be performing live at Theatro Arkan on Saturday, 1 February. Tickets are on Ticketsmarche.

What the markets are doing on 23 January, 2025

The EGX30 rose 0.06% at today’s close on turnover of EGP 3.7 bn (3.7% below the 90-day average). International investors were the sole net buyers. The index is up 0.9% YTD.

In the green: Eastern Company (+3.6%), Juhayna (+3.0%) and Cleopatra Hospitals (+1.5%).

In the red: Oriental Weavers (-3.2%), Egypt Kuwait Holding- EGP (-1.4%) and Sidpec (-1.2%).

The trust deficit and the search for a folk hero

In an era of heightened awareness and moral divide, the concept of folk heroes is undergoing a dramatic transformation while remaining more relevant than ever. Throughout history, folk heroes — both real and fictional — have captured public attention by embodying social values, confronting injustice, and representing the hopes of ordinary people.

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

Stories of traditional folk heroes like Robin Hood have endured for centuries, emerging as symbols of resistance against social inequality, and commentary on complex dynamics in society, resonating with those who feel marginalized or oppressed. A hero stealing from the wealthy to aid the poor not only addressed a deep-seated (and justified) anger over wealth concentration and inequality, it also represented something even more fundamental: hope.

When legal channels for economic mobility seemed blocked, these heroes offered a promise that someone — or anyone — could step forward to address systemic injustice, even if through illegal means born of desperation. These stories have endured for centuries in different forms, with no shortage of people who feel trapped in a cycle of poverty and powerlessness.

But the internet is fundamentally altering how folk heroes emerge, and how their stories are told. Consider the Menendez brothers’ case: initially portrayed as ruthless killers after murdering their parents in 1989, their narrative has been dramatically reshaped through Netflix documentaries. Renewed attention to their traumatic upbringing and abuse has transformed public perception of their story.

Similarly, Luigi Mangione gained a significant following across social media. His killing of UnitedHealthcare CEO Brian Thompson was widely celebrated online, narrowing the gap between people usually of different ideologies, for addressing a shared concern of healthcare system inequities, despite achieving that through a violent action that both sides would usually consider unethical. People relate to these figures because they see their own struggles reflected in their stories. Folk heroes often represent challenges that many individuals face in their lives, making their journeys resonate deeply with those dealing with similar obstacles — an example would be Bonnie and Clyde from the Great Depression, when no one was a fan of bankers.

People have lost hope in meaningful change being achieved through authorized channels. Folk heroes often emerge in response to social injustices or crises, embodying the hopes of marginalized communities seeking fairness and representation. One could attribute the growing turn to folk heroes to increasingly crumbling trust in traditional institutions — especially by younger people.

The Edelman Trust Barometer shows that trust in governments, business leaders, and media has hit record lows, with a quarter of the respondents supporting “hostile activism” — which includes online attacks, disinformation, and property damage —, a figure that rises to two thirds among those aged 18-34. The story of the Menendez brothers illustrates this shift: they are now seen by some as victims who sought justice for their past trauma — justice that the legal system would have never granted them.

The celebration of modern folk heroes raises important ethical questions. Glorifying individuals who commit violent acts may risk making these actions acceptable on a whole, even without the cause. As younger and younger people have more access to the internet, the message that violent behaviour is admirable or justified — especially if they miss the nuance of context — may normalize their reception to it.

The emergence of folk heroes reveals the complex intersections between individual action and systemic change. Their stories are important reflections of changing social values on justice, morality, and social progress, particularly during times of increasing polarization and institutional distrust. These narratives serve as mirrors of societal tensions, capturing moments when individual acts of defiance catalyze broader social movements.

ENTERPRISE ENTERTAINMENT CALENDAR

JANUARY

8 January-1 February (Wednesday-Saturday): Aywa Aywa La2 La2 at Rawabet Art Space.

8 January-1 February (Wednesday-Saturday): Sohba Semsemia at Rawabet Art Space.

23 January - 5 February (Thursday-Wednesday): Cairo International Book Fair at the Egypt IECC in New Cairo.

23 January (Thursday): Abdelhalim Hafez Tribute Night.

23 January (Thursday): Fouad and Mouni at Theatro Arkan.

24 January (Friday): Dr. Khaled Ghattass at Teatro Al Assema.

24 January (Friday): MM events at Ain El Hayah resort.

29 January (Wednesday): Storyteller Series Vol.1: Dina El Wedidi at Boom Room.

29-31 January (Wednesday-Friday): Fire of Anatolia at Cairo Opera House.

7 December-31 January (Saturday-Friday): Cairo Art Fair at TAM Gallery.

30 January-1 February (Thursday-Saturday): Gamergy Egyptat Al Burouj Cultural Hub.

31 January (Friday): Adventure Zipline & High Ropes - Launching Event at Adrenalin Park.

FEBRUARY

1 February (Saturday): Saleh El Nawawy’s debut at Theatro Arkan.

7 February (Friday): DHB at Giza Pyramids

7-8 February (Friday-Saturday): The Art of Public Speaking Workshop at AUC Tahrir.

7-8 February (Friday-Saturday): Football Access Summit at Zed Park.

14 February (Friday): Heliopolis Marathon with Cairo Runners.

14 February (Friday): Medhat Saleh Hob x Hob concert at Theatro Arkan.

21 February (Friday): E7kky Festival.

21 February (Friday): Egycon 12 at Family Park, New Cairo.

23 February (Sunday): Umm Kulthoum Tribute Concert at The Grand Egyptian Museum.

23-25 February (Sunday-Tuesday): Sports Expo 2025 at Egypt International Exhibition Center.

OCTOBER

16-24 October (Thursday-Friday): Gouna Film Festival.

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Today at a glance

Madbouly announces formation of new private sector advisory committees

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Trust in social media platforms faces new test amid Trump takeover

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Thirteen years of regret in Syria

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Marmoush to Man City + A packed weekend with football, handball, and tennis on the docket

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They hoop, they score

Related

What the markets are doing on 23 January, 2025

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The trust deficit and the search for a folk hero

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Get EnterpriseAM daily

The trust issue

An independent publication supported by

Today at a glance

Madbouly announces formation of new private sector advisory committees

Get Enterprise daily

Related

Related

Trust in social media platforms faces new test amid Trump takeover

Related

Related

Thirteen years of regret in Syria

Related

Related

Marmoush to Man City + A packed weekend with football, handball, and tennis on the docket

Related

This publication is proudly sponsored by

They hoop, they score

Related

What the markets are doing on 23 January, 2025

Related

The trust deficit and the search for a folk hero

Related

ENTERPRISE ENTERTAINMENT CALENDAR

Related

An independent publication supported by

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