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Tour guide sunglasses?

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WHAT WE’RE TRACKING TONIGHT

THIS EVENING: EGX30 closes down 6.3%

Good afternoon, friends, and happy Monday. It’s a relatively slow day so far, which begs the question: Could the fabled Ramadan slowdown finally be upon us?

THE BIG STORY TODAY

The EGX30 was down 6.3% at today’s close amid a sell-off from local institutional investors, according to market data. Abu Qir Fertilizers was the only EGX30 constituent to close in the green today. The index is up 16.9% year-to-date.

REMEMBER- The EGX began to slip in the immediate wake of the EGP float earlier this month. Many investors had bought into equities as a hedge against an EGP worth 65 or more against the greenback, meaning the drop is, in large part, investors taking profits.

THE BIG STORY ABROAD

Putin’s reelection is still center stage in the foreign press this afternoon: Russian President Vladimir Putin landed a new six-year term in the Kremlin, extending his rule as the longest-serving leader since Josef Stalin. The landslide victory — which saw Putin receive c. 87% of all votes with no serious competition — was condemned by Europe (here, here, and here) as violating civil and political rights and democracy. Putin, meanwhile, celebrated the victory as a chance to pursue his plans “no matter how much anybody wanted to suppress us.” (Reuters | Bloomberg | Financial Times | CNBC | Associated Press | NY Times)

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

  • EUR 7.4 bn in EU funding: The EU will provide Egypt with a EUR 7.4 bn package of loans, grants, and investments through to 2027, after President Abdel Fattah El Sisi signed a joint strategic and comprehensive partnership with European Commission President Ursula von der Leyen at the Ittihadiya Palace.
  • EFG Finance is getting ready to launch a new subsidiary to address a gap in market: EFG Finance, the non-bank financial services arm of EFG Holding, has obtained a license from the Financial Regulatory Authority to set up a subsidiary for SME finance, which is poised to launch in 2Q 2024.
  • GREGY is coming: The government will soon launch a tender to select an international consulting firm to develop a plan and prepare the necessary studies for an electricity linkup with Greece that will enable exports of Egyptian renewable energy into Europe, dubbed GREGY.

?️ TOMORROW’S WEATHER- Look for a partly cloudy day with a high of 22°C and low of 12°C, according to our favorite weather app.

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FOR YOUR COMMUTE

Ray-Ban x Meta glasses get a new upgrade: Landmark identification

Ray-Bans and Meta have added a landmark-identifying feature to their AI-powered sunglasses. The new feature identifies landmarks in various locations, serving as a virtual tour guide for travelers, Meta CTO Andrew Bosworth recently said. Last year, Ray-Ban’s Meta sunglasses introduced AI-powered visual search features showcasing both impressive and potentially concerning capabilities.

How does it work? Tourists can find out when the pyramids were built, for example, just by catching sight of the landmark, which triggers written text — or audio — that explains the history and facts about it, according to Engadget. Meta CEO Mark Zuckerberg showcased the new feature on Instagram through videos captured in Montana where the glasses used audio to provide verbal descriptions of landmarks.

Meta previously previewed this feature at its Connect event, highlighting it as part of the new “multimodal” capabilities enabling access to real-time information for the glasses, powered in part by Bing Search.

This landmark identification feature is part of Meta’s broader Google lens-like functionality, allowing users to “show” what they see through the glasses and ask AI questions about it. While currently available to those in Meta's early access program — which remains limited in numbers — Bosworth mentioned the possibility of expanding access in the future, encouraging interested users to join the waitlist for updates.

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ENTERPRISE RECOMMENDS

Sci-fi drama in Foundation

? ON THE TUBE TONIGHT-
(all times CLT)

Adapted from the Isaac Asimov trilogy, Foundation follows the story of Hari Seldon (Jared Harris), a brilliant mathematician, who predicts the imminent collapse of the Galactic Empire, a vast interstellar civilization (trailer: runtime 2:49) .

Seldon develops a scientific theory called psychohistory, which allows him to foresee the future with remarkable accuracy. To mitigate the impending chaos and preserve knowledge for future generations, Seldon establishes the Foundation, a secret organization dedicated to safeguarding humanity’s collective wisdom.

As the Galactic Empire begins to crumble, the Foundation faces numerous challenges and threats from rival factions seeking to exploit its knowledge for their own gain. For centuries, the Foundation navigates political intrigue, war, and technological advancement as it strives to fulfill Seldon's vision of a new galactic civilization rising from the ashes of the old.

Season two made a strong impression, and season three is currently being filmed.The first season didn’t get the best reviews, but things picked up in the second season, earning the series a more positive review as “ a science fiction gem.”

WHERE TO WATCH- You can watch Foundation on AppleTV+.

There are no matches today as the first international break begins and is set to run until Tuesday, 26 March, there will be friendlies to catch.

The Egypt Capital Cup will be kicking off this Friday with an opening match between Egypt and New Zealand to be followed by Tunisia’s clash against Croatia. Losers of Friday’s games will battle it out on Monday, while the final game will be played on Tuesday, 26 March. We are still waiting for the timing of the matches to share them with you.

☕EAT THIS TONIGHT-

Floating Cups is a great spot for your post-iftar caffeine fix. Tucked away in CSAMaadi, this quaint cafe will deliver your daily dosage of caffeine in the most aesthetically pleasing cups and decor. They have extended hours this Ramadan where they close 10pm instead of 7pm.

They offer medium roast, single origin fair trade sourced coffee beans — as well as the decaffeinated version. The coffee beans have been carefully selected among an array of small farmers with a flavor profile that does the trick after a long day of fasting.

A healthy basbousa, matcha cookies, and the chocolate pistachios fudge bar (which was our favorite) are some of the nibbles they have on offer. The bar, which has medjool dates, almond butter, and dark chocolate, was good enough that one was simply not enough — we wanted the whole batch. Their desserts and snacks are provided by The Rite Bite and Be Good Today, who are local providers of freshly baked goods, and focus on using healthier ingredients such as almond, coconut flour, and honey to make their goodies.

You can get a bit of a price reduction if you bring your own mug: Aside from focusing on encouraging small businesses and bringing the community together, Floating Cups is adamant about reducing their carbon footprint: They use LED lights, have closed-door fridges, and offer lower prices if you bring a reusable mug.

? OUT AND ABOUT-
(all times CLT)

ENTERTAINMENT-

Drop the sobia and face your phobias at Rawabet Arts Space’s Mesh Mawgood LivePodcast: Fobia Elsobia event. Tomorrow from 9pm the event will help you confront and understand your fears or phobias, such as potatoes, car headlights resembling human faces, associating even numbers with good and odd numbers with evil, having a fear of cheese, or feeling uneasy about the Ring Road. Get your tickets here.

There’s no shortage of comedy at ROOM.Six more comedians are laying it all on the table this Thursday, 21 March at the space’s Garden City branch for The Mad Day. Like the previous event, doors also open at 8:30pm, and the same ticket and minimum order regulations apply.

EVENTS-

Celebrate Mother’s Day this year with the Society of Play by bringing your mom to a special adult playdate. This Wednesday, 20 March mothers and their (adult) children will gather for a day of fun and games through interactive group activities for a chance to bond, laugh, and create lasting memories together. For reservations click on this link.

Nurture your connection with our cultural heritage with Megawra. Their three-day Spendthe Day in Khalifa event is on its eleventh edition, taking place this year on Friday and Saturday, 22-23 March, and Friday, 29 March. The event focuses on connecting space, place, and people at al-Khalifa Park and al-Khalifa Community Center.

RAMADANIYAT-

The iconic Taghmisa experience is back. If you missed it last year (or the last eight years), there’s no reason to worry. This unconventional Ramadan tent features experimental Middle Eastern cuisine (we’ve been craving their sobya latte since last year) and continuous live performances that will keep you entertained all night long. You can reserve a table here, picking between suhoor from 10:30pm-1am if you’re an early bird or 1-3am if you intend to head home at dawn.

Have iftar and suhoor beneath the night sky at the Citadel of Salah El Din.Sawa is curating a must-try experience at this historic site with culinary expertise from Carlo’s and Le Pacha. You can choose between having iftar from 5:30-8:30pm and suhoor from 10pm-2am. Tickets are selling out fast despite the steep price of EGP 2.4k per person (excluding taxes), so grab yours while you can.

Qahwet WOC is back this year for your Ramadan nights out.Walk of Cairo is teaming up with Topaz Restaurant to fill every night with live performances throughout the Holy Month, including a Mawlaweya show, a tanoura show, board games, and a traveling Mesaharaty. You can head down there any time during Ramadan from 8pm to 2am.

Layalina is also going to East Cairo. Layalina has extended their stay at El Baron Palace adding four additional dates to choose — up until this Wednesday, 20 March — bringing you a night of tradition and entertainment under the stars. The menu will be the same as our West-siders, but those attending at El Baron have a larger selection of seating. You can choose between lounges, tables, and high table seats here.

Can’t keep track of which suhoor tent is up when? Layaly HydeOut is making it easy for you — they’re open all month with HekaytnaHelwa at Hyde Park. In addition to a set Suhoor menu, weekdays feature oud and takht sharqi music, and weekends will host superstar performers who are yet to be identified. Tickets from 17-20 March are available now, retailing for EGP 800 per seat.

Footloose brings the magic of Ramadan at Wadi Campwhere the desert comes alive with traditional festivities and cherished traditions under the starry night sky. From mesmerizing Tanoura shows to sumptuous iftar feasts and late-night suhoor meals, immerse yourself in the spirit of the season. Enjoy movie nights under the open sky, engage in a variety of activities including volleyball and card games, and gather around the bonfire for shared stories and laughter. Reserve your spot through their number on their Facebook page.

Qahrawya is back again with their Ramadan Iftours,where you get to stroll through the bustling streets and ancient wonders of Cairo iconic landmarks as well as indulge in its delicious dishes. The Salah al-Din Citadel and the labyrinthine alleys of Khan el-Khalili will be included in the tour. Their dates are Wednesday, 20 March in Downtown and Thursday, 28 March for the Mounira x Garden City tour. Saturday, 30 March will be in Zamalek, and Thursday, 4 April will be in City of the Dead. To book your spot, message them on their Facebook page.

MUSIC-

Witness some of the last remaining Zar practitioners in Egypt. The Mazaher ensemble shares their tradition with audiences with two concerts every Wednesday at Makan. Reach out by the email or Whatsapp number provided on the page to experience the spiritual poly-rhythmic drumming and vocals practiced in Upper Egypt. Note that taking photos and/or videos is prohibited during the performance.

? UNDER THE LAMPLIGHT-

Stubborn optimism in Happy by Celina Baljeet Basra sheds light on the realities of illegal migration. Basra brings us the story of Happy Singh Soni, the protagonist who is a vibrant and relentless spirit aspiring to be an actor. Happy departs from his homeland in pursuit of stardom. However, his journey takes a dark turn when he gets accidentally tangled up with organized criminals trafficking human labor.

The narrative is a kaleidoscope of optimism and grim realities. Despite his dreams, he finds himself trapped farming on a radish farm in Italy, after a difficult journey across continents. Yet, his irrepressible positivity and zest for life remain undiminished which makes the story equally lighthearted and endearing.

This isn't just a tale of one man’s struggle against exploitationbut also a poignant commentary on the human spirit’s unwavering determination. We’ve seen this before with the retelling of the Mardini sisters’ migration from Syria to Germany in The Swimmers.

The book is “an entertaining assortment and also a perplexing one,”and it’s made to show the resilience of those facing hardshipsand a reminder, with a touch of comedy, of the societal injustices of immigration.

You can find your copy on Amazon.

This publication is proudly sponsored by

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GO WITH THE FLOW

What the markets are doing on 18 March 2024

The EGX30 fell 6.3% at today’s close on turnover of EGP 4.3 bn (11.6% below the 90-day average). Foreign investors were net buyers. The index is up 16.9% YTD.

In the green: Abu Qir Fertilizers (+0.6%).

In the red: E-finance (-14.3%), Elsewedy Electric (-13.6%) and Orascom Development (-12.6%).


16-20 March (Saturday-Wednesday): Hekayatna Helwa suhoor at HydeOut.

18 March (Sunday): ROKN X ROOM Ramadan Night at ROOM New Cairo.

18 March (Sunday): EgyptianMawlaweyaperformance at Cairo Opera House.

19 March (Tuesday): MeshMawgoodLive Podcast: Fobia Elsobia at Rawabet.

20 March (Wednesday): Mother's Day with Society of Play.

20-23 March (Wednesday-Saturday): Advertising Workshop: Presenting and Pitching for Creatives at SYNC School.

21 March (Thursday): The Mad Day standup show at ROOM Garden City.

21 March (Thursday): Komedy Koshk open mic at Eden Spaces.

22 March (Friday): WTFun standup show at ROOM Garden City.

22 March (Friday): Al Hadra concert at Cairo Opera House.

22-29 March (Friday-Friday): Spend the Day in Khalifa event by Megawra.

23 March (Saturday): Ramadan Comedy Night at ROOM New Cairo.

23 March (Saturday): Dina El Wedidi Saharat Ramadan concert at Cairo Opera House.

25 March (Monday): Connect Four Live standup comedy show at Rawabet Art Space.

31 March (Sunday): Medhat Salah concert at Cairo Opera House.

APRIL

5 April (Friday): Iftar at Wadi Degla with VAMOS.

5 April (Friday): Sufi Dance Performance at Dawar Arts.

5-6 April (Friday-Saturday): Mevlevi Night at Royal Park.

9 April (Tuesday): Eid El Fitr (TBC).

10 April (Wednesday): Amr Diab concert at Cubix El Gouna.

19 April (Friday): Keinmusik at the Giza Pyramids by Panorama 2.

20 April-June 8 (Saturday-Saturday): Sketching Course at Art Square Academy.

23-24 April (Tuesday-Wednesday): Omar Khairat concert at Cairo Opera House.

25 April (Thursday): National holiday in observance of Sinai Liberation Day (TBC).

25-27 April (Thursday-Saturday): Insomnia Egypt Gaming Festival at the International Exhibitions Center.

MAY

1 May (Wednesday): National holiday in observance of Labor Day (TBC).

3 May (Friday): Youth to Business (Y2B) event at The GrEEK Campus.

5 May (Sunday): Coptic Easter.

6 May (Monday): Sham El Nessim (TBC).

23-25 May (Thursday-Saturday): The Design Show at Cairo International Conventions Center.

25 May (Saturday): Techne Summit at the Cairo International Stadium.

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.

EVENTS WITH NO SET DATE

2023: The inauguration of the Grand Egyptian Museum.

Q1 2024: Opening of the newly developed Pyramids Plateau in Giza.

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