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Underdog takes all?

1

WHAT WE’RE TRACKING TONIGHT

Trump wants Egypt, Jordan to take in more displaced Palestinians

Good afternoon folks, and welcome to Sunday. Read on for all the latest as we kick off another chilly work week.

THE BIG STORY TODAY

Bonyan taps financial advisor ahead of planned IPO: Real estate investment firm Bonyan has appointed Baker Tilly as its independent financial advisor to determine the fair value of its shares ahead of its planned IPO, Hapi Journal reports. Last week Bonyan secured approval from the EGX’s listing committee to list its shares on the EGX, with the Compass subsidiary gearing up for its EGX debut in the first half of 2025.


CORRECTION- We incorrectly referred to Hassan Allam Properties as the real estate arm of Hassan Allam Holding in a story published in today’s issue of EnterpriseAM Egypt. Hassan Allam Properties is a sister company of Hassan Allam Holding and has a separate legal entity and shareholding structure. The story has since been amended on our website.

THE BIG STORY ABROAD

US president Donald Trump is calling for Palestinians displaced from the Gaza Strip to beresettled in Jordan and Egypt either temporarily or permanently, despite longstanding opposition to the forcible displacement of Palestinians. Trump noted to reporters following a call with Jordan’s King Abdullah Saturday that he wanted both Jordan and Egypt to take in more displaced Palestinians, saying in reference to Gaza that “we should just clear out the whole thing.” The news comes as displaced Palestinians have gathered around roads running north through the strip in anticipation of soon being able to return to their homes.

Trump is also in talks with multiple parties about an American takeover of TikTok, the president told reporters aboard his presidential jet. US-based multinational software company Oracle is reportedly among the contenders to take control of the social media outfit’s operations, with the company already providing the foundation of TikTok’s online infrastructure. An agreement with Oracle would reportedly see TikTok’s Chinese parent company ByteDance retain a stake in the company, while transferring control over data collection and software updates to Oracle and a group of unnamed investors.

Nothing’s confirmed yet, though: In his comments to reporters, Trump said that he had not had any conversations with Oracle CEO Larry Ellison about a potential purchase of TikTok, but that he would likely make a decision about the app’s future in the coming 30 days. “If we can save TikTok, I think it would be a good thing,” Trump noted.

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

  • Gov’t announces new private sector advisory committees: Prime Minister Moustafa Madbouly has announced the formation of six advisory committees that the statement says will ensure continued and deepened communication between policymakers and the private sector as the state pushes its reform drive into the new year.
  • FRA gives ins. funds more investment options: The Financial Regulatory Authority (FRA) has amended the rules governing private ins. funds and the caps on their investments in a move aimed at helping them diversify their investment portfolios.
  • Global FDI rose 11% y-o-y to USD 1.4 tn in 2024, though figures dipped 8% when excluding European conduit economies, according to the latest Global Investment Trends Monitor.

enterprise

*** It’s Inside Industry day — your weekly briefing of all things industrial in Egypt. Inside Industry focuses each Sunday on what it takes to turn Egypt into a manufacturing and export powerhouse, ranging from initial investment and planning to product distribution, through to land allocation to industrial processes, supply chain management, labor, automation and technology, inputs and exports, regulation and policy.

In today’s issue: We take a look at what policies the government has been putting in place to green local industry.

☀️ TOMORROW’S WEATHER- Temperatures in the capital are going to be slightly chillier tomorrow, with the mercury set to rise to 22°C in the morning and dip to 12°C at night, according to our favorite weather app.

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FOR YOUR COMMUTE

The AI game is changing

A small AI lab in China is shaking things up in Silicon Valley. DeepSeek pulled off what many thought was impossible — releasing cutting edge, open source AI models that outperformed the industry’s top players, CNBC reports. Even more surprising? DeepSeek did it on a budget under USD 5.6 mn — compared to OpenAI’s USD 6 bn — using less powerful Nvidia H800 chips instead of the high-end hardware its rivals rely on — all while evading US strict export controls.

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

This may be a wake up call for Silicon Valley to do more with less. DeepSeek honed the art of efficiency by using techniques like model distillation — where small models learn from big models — and advanced methods like Multi-head Latent Attention (MLA) and Mixture-of-Experts. They’re winning over competitors' users, and instead of guarding their breakthroughs, DeepSeek went open source — a move OpenAI’s Sam Altman revoked for his own company in November of last year.

The US may need to rethink its strategies. As existing sanctions to stifle international competition appear less effective, and with the rise of open source models, DeepSeek’s success can encourage a new wave of innovation and level the playing field for smaller players worldwide.

Where are the competitors? OpenAI has launched Operator, an AI agent that can book hotels, planes and can even online shop for you, Business Insider reports. Operator is available to ChatGPT Pro subscribers in the US, with plans to expand globally and to lower tier subscription plans in the coming months.

But there are challenges ahead for DeepSeek: The salmon-backed paper mentions that US tech companies are rapidly expanding their AI computing capabilities, deploying massive arrays of Nvidia’s newest Blackwell GPU chips, which could potentially outpace the processing power available to Chinese competitors.

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ON THE TUBE TONIGHT

For your sake, don’t resist aging

? The horror of aging… Following its premiere last May, Coralie Fargeat’s TheSubstance sparked polarized reactions, from ten-minute-long standing ovations, to mid-screening walkouts. This provocative thriller holds up a dark mirror to our society’s deepening anxiety about aging.

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

The story follows Elizabeth Sparkle (Demi Moore), a 50-year-old fitness icon whose aerobics empire begins to crumble when her producer Harvey (Dennis Quaid) suggests that she’s past her prime. Desperate to maintain her relevance, Elizabeth turns to an enigmatic black market drug that promises youth restoration. The catch? It creates a weekly alteration between young and old versions of the user, with the two selves forever forbidden to meet. When Sue (Margaret Qualley) — Elizabeth’s younger self — takes over the show, her decision to break the one-week rule sets off a cascade of haunting consequences.

The movie reflects Hollywood’s obsession with unrealistic standards of beauty — which push women into desiring a certain appearance and refusing to age. We also see men taking the same drug which highlights that the obsession does not only apply to one gender. Fargeat’s direction masterfully amplifies the psychological horror through disorienting camerawork and hypnotic color palette that pulls viewers deep into the characters’ distorted reality.

Is aging really all that terrifying? At the heart of The Substance lies Moore’s tour de force performance, which earned her both a Golden Globe Award for Best Actress, and an Oscar nomination. Her nuanced portrayal captures the quiet desperation of someone fighting against time itself, making the audience confront their own fears about aging, and society’s relentless pursuit of eternal youth.

**Disclaimer — Between the graphic scenes and inappropriate visuals, this is definitely not the best family movie night pick. We would advise viewers to brush up on content warnings before watching.

WHERE TO WATCH- You can watch this movie on OSN+, or catch the trailer on YouTube (runtime: 2:29)

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Sports

Egyptian Premier League final + The Pharaohs vie for a spot in the Handball World Championship quarter finals

An Egyptian Premier League showdown: Al Ahly will be taking on Pyramids at 7pm tonight in a battle for Premier League supremacy. With just a single point separating the two teams — Pyramids leading with 20 points and Al Ahly hot on their heels with 19 — this matchday 10 face-off could shake up the title race. Zamalek lurks close behind in third place with 17 points to their name.

Other key matches today:

  • Al Ittihad vs. Ismaily (4pm)
  • El Mahalla vs. Ceramica (7pm)

Four exciting matchups conclude Week 23 of the English Premier League today. The action kicks off at 4pm with Crystal Palace hosting Brentford while the Spurs welcome Leicester onto their pitch. Aston Villa and West Ham will be following at 6:30pm, with the day ending with Fulham’s match against Manchester United at 9pm.

La Liga tonight: Barcelona has the chance to reduce the gap with league leaders Real Madrid — which widened to 10 points after Los Blanco’s victory against Real Valladolid yesterday — when they face Valencia at 10pm as part of matchday 21.

Other European league highlights:

  • Udinese vs. Roma — Serie A (4pm)
  • Nantes vs. Lyon — Ligue 1 (6:15pm)
  • Lecce vs. Inter — Serie A (7pm)
  • Lazio vs. Fiorentina — Serie A (9:45pm)
  • Nice vs. Marseille — Ligue 1 (9:45pm)


? The Pharaohs are set to play their final main round match in the Handball World Championship tonight, going head to head with Cape Verde at 7pm today with the aim of securing a spot in the quarter finals. Our homegrown team has collected 6 points so far, tied for first in Group IV alongside Croatia and Iceland. Only the two top teams from each group qualify for the next stage, with head-to-head results being the first tiebreaker, followed by goal difference.

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OUT AND ABOUT

Artists from the MENA region gather at the 6th edition of Art Cairo

MARK YOUR CALENDAR-

? Diverse galleries and a dynamic fair program. Experience the artistic talents of the MENA region at the 6th edition of Art Cairo. The exhibition will be held at the Grand Egyptian Museum from Saturday, 8 February until Tuesday, 11 February. Tickets are available on CollardTickets.

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

HAPPENING THIS WEEK-

It’s time for the country’s largest book fair. The Cairo International Book Fair is back for its 56th edition 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.

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.

HAPPENING LATER-

This one is for the sports fans. The Football Access Summit will feature talks, panels, and presentations from sports industry leaders — giving the fans insider access. The summit will take place on Friday-Saturday 7 and 8 February at ZED Park. Tickets are available on Ticketsmarche.

Diverse galleries and a dynamic fair program. Experience the artistic talents of the MENA region at the 6th edition of Art Cairo. The exhibition will be held at the Grand Egyptian Museum from Saturday, 8 February until Tuesday, 11 February. Tickets are available on CollardTickets.

Cairo Runners is once again hosting its iconic annual marathon, this time on the day of love. On Friday, 14 February, pick between a 21km, 10km, or 5km race, or even a short family run. Register your interest on Cairo Runners.

Fancy a Valentine’s Day serenade? Grab someone you love and get serenaded by Medhat Saleh, at Theatro Arkan on Friday, 14 February, with his Hob x Hob concert. Get your tickets at Ticketsmarche.

The sixth edition of the E7kky Festival. The festival will take place on Friday, 21 February at ZED Park in Sheikh Zayed City and will feature talks, panel discussions, and workshops revolving around empowering women. Disco Masr will also be performing in addition to the many activities taking place from 10am to 10pm. Tickets are available on Tazkarti.

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Ears to the Ground

Pause, reflect and reconnect with Where Is My Mind?

?Where Is My Mind? is a mental break in a chaotic world. Irish writer and musician Niall Breslin offers a fresh perspective on mental health and self awareness in an age filled with stress and isolation. Launched in 2022, the podcast has released over 100 episodes to date, garnering widespread acclaim and attracting listeners seeking to bring balance to their mental health amidst the hustle of daily life.

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

It thrives on its diverse guests and in depth discussions. Breslin invites mental health experts, artists, and musicians for honest conversations that shine a light on psychological challenges and coping mechanisms. With his approachable and engaging style, Breslin simplifies complex topics — such as anxiety disorders and the impact of social media on mental health — offering listeners a sense of belonging to a community with shared experiences.

Here's a glimpse: One episode features musicians Ciarán McGuinness and James Vincent McMorrow who talk about music's therapeutic impact. They also go on to share personal anecdotes where Ciarán reflects on a performance that reconnected him with his family roots, while James opens up about how music helped him confront an eating disorder. The episode also touches on the pressures of working in the music industry.

Each episode is lengthy, running between 40 to 50 minutes. It doubles as a form of social critique, with Breslin analyzing public policy failures in addressing mental health and exploring society’s obsession with achieving self-contentment amidst the frenzy of self improvement.

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

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GO WITH THE FLOW

What the markets are doing on 26 January 2025

The EGX30 rose 0.1% at today’s close on turnover of EGP 3.5 bn (7.7% below the 90-day average). Egyptian investors were the sole net buyers. The index is up 1.0% YTD.

In the green: AMOC (+7.4%), Elsewedy Electric (+2.9%) and Juhayna (+2.6%).

In the red: B Investments Holding (-3.2%), Palm Hills Development (-2.6%) and Eastern Company (-2.1%).

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INSIDE INDUSTRY

Where Egypt’s efforts to green its industrial sector stand

? Egypt is investing in sustainable industry: As climate change makes itself felt across the world and in our backyard, governments face the monumental task of ensuring growth that is sustainable for our people and our planet. Happily, our very own Environment Ministry is currently spearheading a number of programs aimed at supporting industries to reduce carbon emissions, improve energy efficiency, and adopt sustainable practices — all with greener growth in mind.

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

Existing programs have paved the way for enduring transformation: The Egyptian Pollution AbatementProgramme (EPAP), now in its third phase, has successfully provided EUR 300 mn in funding, facilitating projects worth EUR 550 mn in total investments.

Refresher- EPAP is a wide-scale initiative launched in the early 1990s by the Environment Ministry to help industries reduce energy and resource consumption and comply with environmental regulations. It provides a mix of loans and grants to industries, with financial backing from parties including the EU, AFD, the European Investment Bank (EIB), and German development bank KfW.

The initiative offered ample funding for industrial greening programs: The EPAP’s third phase — which received some EUR 145 mn in financing — saw the government offer industrial companies concessional loans with grants of up to 24% of total project costs. This funding supported 34 major projects across 23 facilities, with total investments of EUR 193.5 mn.

SMEs also got in on the funding: The third phase of EPAP also offered small and medium enterprises (SMEs) grants covering up to 30% of project costs, with 37 projects in the renewable energy adoption, waste management, and emissions reduction arenas funded with total investments of EUR 13.9 mn.

Projects helping advance sustainable industries: The upcoming Green SustainableIndustries (GSI) program — set to launch in 2025 and run through 2030 — is backed by EUR 271 mn in funding and is set to contribute to investments worth a total of some EUR 500 mn. The program will provide financial and technical assistance for renewable energy projects, circular economy initiatives, and carbon footprint reduction measures.

As things stand: The Environment Ministry will soon ink fresh financing contracts under the program, a government source told EnterpriseAM without specifying the exact date. There are also a number of studies underway to qualify more industries for the program, especially those that account for a large chunk of our European exports and need to amend their practices to line up with European export requirements.

Targeted industries include: The fertilizers, cement, iron, and aluminum sectors, seeing as they account for a significant percentage of Egyptian exports, the source said.

Green technology in action: Industrial facilities across Egypt are integrating advanced green technologies to enhance operations and reduce emissions. Recent projects include Alexandria Mineral Oils Company’s (AMOC) phenol treatment unit for wastewater, Flex P Films’ recycling line for PET plastic waste, and El Nasr for Fertilizers & Chemical Industries’ (Semadco) new wastewater treatment station. Additionally, Harvest Foods has introduced wastewater treatment systems in its Sixth of October and Borg El Arab facilities, while Wadi El Nile Cement has developed an alternative fuel system to minimize its reliance on traditional energy sources.

SMEs are also playing a vital role in the green transformation. Among the projects underway are wastewater treatment installations at Ovo Egypt and Classic Food Industries, replacing old machinery at various facilities, and transitioning to renewable energy sources.

Digitization is facilitating the process: The ministry is leveraging digital tools to improve environmental monitoring and governance. Programs on the table include the Eco Monitor app, which tracks endangered marine species, and the launch of the National System for Waste Information and Data Management (WIMS), which facilitates the licensing of waste management companies. The ministry has also developed digital platforms for real-time monitoring of air and water quality, using satellite data to detect industrial pollution hotspots.


Your top industrial development stories for the week:

  • DXN Global to set up a local facility: Natural food supplements and health products firm DXN Global signed a strategic partnership with its local agent DXN Egypt Alidrisi on Saturday, under which the company plans to set up a local manufacturing facility for its products.
  • Abu Qurqas sugar factory back in business: The Supply Ministry confirmed that the Abu Qurqas sugar factory has resumed operations this year after a pause last season. The facility has successfully processed the targeted cane deliveries and completed production according to plan. (Statement)
  • Robbiki Leather City allocates all 43 factories in first offering: All 43 ready-made factories in Robbiki Leather City’s first offering have been allocated, with applicants to be notified via SMS and the results published on the Egypt Digital Industrial Platform, the Transport Ministry said. (Statement)
  • Organi Group to launch USD 100 mn chlorine pellet factory by 2025: Organi Group is building a USD 100 mn factory to produce chlorine pellets, marking the Middle East’s first such facility, with operations set to begin in 2025. The news comes after the Group’s announcement of its plans to invest USD 1 bn in the automotive and tourism sectors by 2030.
  • Lesaffre Egypt, Huhtamaki receive golden licenses: French yeast producer Lesaffre Egypt will invest EUR 120 mn in a yeast production and packaging facility in Beheira, exporting over 90% of its 22.6k-ton annual output. Finnish food packaging manufacturer Huhtamaki will establish an EGP 1.5 bn factory in Sadat City, using 70% local materials and exporting 70% of its production.

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.

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.

8-11 February (Saturday-Tuesday): 6th edition of Art Cairo at the Grand Egyptian Museum.

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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