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WHAT WE’RE TRACKING TONIGHT

Domty shares up 20% following Arla acquisition news

Good afternoon, everyone, and a happy almost-weekend to you all. The weather is finally seeing a downturn in temperature, with clear skies and cool breezes in our future.

THE BIG STORY TODAY

Domty shares up 20.0% following news of Arla acquisition: Domty’s incoming acquisition by Danish Arla Foods for up to 100% of the company (pdf) has been a hit on the EGX, with shares of the local cheesemaker rising 20.0% by the end of trading yesterday to EGP 21.63 a share.

Domty wasn’t the only dairy company on the bourse having a good day, with all of the country’s major dairy producers finishing the day 20% up, including Juhayna, Arab Dairy, and Obour Land.

Arla is paying a 74.6% premium on the share price on the day the acquisition was announced. Naeem Holding’s VP of equity research, Hesham Hamdey, pointed to the premium as evidence of Egyptian stocks being undervalued in comments to Asharq Business. Thndr Securities’ chief equity strategist, Amr Elalfy also told the outlet that the price premium can be explained as a control premium.

THE BIG STORY ABROAD

The focus of the global press is split between Israel’s wars on its neighbors and the seemingly never-ending US election cycle. Over in our corner of the world, it is being reported that Israel killed 15 in airstrikes on the Lebanese town of Qana — the same town that Israel killed at least 100 civilians in 1996 in a strike on a UN compound housing displaced families. Another of Israel’s strikes on the country catching the attention of the international press is its airstrike on Nabatieh, killing at least five people — including the city’s mayor Ahmed Kahil — which Lebanese Prime Minister Najib Mikati claimed was “intentionally targeting” a meeting to aid relief efforts.

With only 19 days to go until the election, US election drama is ramping up once again. One story making the rounds is that tech oligarch Elon Musk has given nearly USD 75 mn to aid Donald Trump’s bid for the US presidency ahead of the upcoming elections. Musk has also been cranking up the rhetoric, telling former Fox News host Tucker Carlson that “If Trump doesn’t win this election, it’s the last election we’re going to have.” Trump, likewise, has also not been shying away from dangerous rhetoric, telling Fox News in a recent interview that he could call on the National Guard to deal with the “enemy from within” — read: people who disagree with him.

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

  • Saudi Crown Prince Mohammed Bin Salman was in Cairo yesterday for a one-day visit that saw him meet with President Abdel Fattah El Sisi to discuss strengthening relations and other issues of common interest.
  • It was a busy 24 hours for M&A news — Danish Arla Foods wants to snap up Domty, AngloGold Ashanti’s bid for Centamin gets the greenlight from the Egyptian Competition Authority, and updates on Amoun’s planned acquisition of Atlas for Investment and Food Industries.
  • That’s a wrap on Adnoc’s Fertiglobe acquisition: Nassef Sawiris-owned chemical producer OCI has sold its entire 50% stake in ammonia and urea producer Fertiglobe to the Abu Dhabi National Oil Company (Adnoc) in a USD 3.62 bn transaction.

☀️ TOMORROW’S WEATHER- Tomorrow’s mercury is expected to reach a high of 31°C and a cooler low of 21°C in the capital, according to our favorite weather app.

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FOR YOUR COMMUTE

Samsung’s AI will know what you want before you do

Say goodbye to your settings menu, Android users. Samsung is reportedly working on a new AI feature that can predict the settings you’ll want to adjust based entirely on your usage patterns and implement them for you. This comes as part of a slew of new AI features the South Korean company is experimenting with. Samsung has already made some major AI moves this year, introducing its Galaxy AI features, but the company has bigger dreams.

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

AI will do the thinking for you. Imagine your phone automatically tweaking your camera settings when you’re in a low-light environment, or sensing your typing pattern and optimizing your keyboard to fit. Korean news outlets report that the proposed AI “can predict what consumers want in advance [and improve] the performance of ‘touch points’.” Currently, Samsung’s virtual assistant Bixby is the one taking the reins, implementing these changes with a voice-activated feature, similar to Apple’s Siri.

While it may sound like a dream for the less tech-savvy among us, it’s a feature that needs to be perfected before release. If done right, it could completely streamline Samsung’s UX, making their devices more intuitive than ever. But if the product is rushed to market — something we’ve seen happen too often lately — it could lead to more frustration and bricked phones than anything else.


Fellow iSheep are getting a new (and faster) iPad Mini. Hitting the ground running with their desertion of the annual upgrade cycle, Apple has announced an upgrade to the 2021 iPad Mini in a no-fanfare press release, slated for release this week, writes The Verge. Alongside a focus on processing speed, the new model is optimized for Apple Intelligence.

The specs: The upgraded device runs a new A17 Pro chip with a CPU and GPU that are 30% and 25% faster, and a Neural Engine boasting twice the speed as its predecessor. Digital artists will appreciate the support for the new Apple Pencil Pro, and upgraded storage for the base model, going up to 128GB from 64GB. The Wi-Fi 6E chip? Faster. USB C port? Faster. Everything on this device is faster than it was before.

The aesthetics: We’re seeing new pastels in purple and blue added to the already existing Mini models, but they aren’t as saturated as those on the iPhone 16. Other than that, the design looks almost identical to the 2021 version (on the outside).

It isn’t the most popular product, but it has its people. Like the iPhone SE, the iPad Mini caters to those who are seeking good things in small (and more feasible) packages. While the larger versions constitute the bulk of Apple’s sales, their fun-sized offerings have a cult following the company is happy to accommodate.

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ENTERPRISE RECOMMENDS

A return to Miyazaki’s enchanting world

? ON THE TUBE TONIGHT-
(all times CLT)

A decade after his last feature-length production and retirement, Studio Ghibli’s Hayao Miyazaki returns to the silver screen to prove that he’s still got it. The Boy and the Heron is inspired by the Japanese novel How Do You Live?, but the story is influenced by Miyazaki’s childhood and memories.

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

A boy lost in war… Mahito (voiced by Soma Santoki in the original Japanese version, Luca Padovan in the English dub) is a twelve-year-old living in Tokyo during the 40s. As war ravages the country, his city falls victim to a violent attack in which he loses his mother. A year later, what remains of his family moves to the countryside, into a mansion staffed by aging maids, containing an abandoned tower that is the subject of legends, and a lake where a heron (Masaki Suda, Robert Pattinson) lives, plaguing Mahito with promises of finding his mother.

…And a parallel universe. Mahito’s grief fills his sleep with strange and disturbing dreams surrounding his mother. At the mansion, the strangeness becomes reality, and his aunt, who is now his stepmother, disappears into a parallel universe. Mahito, alongside the heron and an elderly maid, dive into it after her.

The film feels personal and intimate — a visual memoir of Miyazaki’s childhood and upbringing during wartime and the loss of his mother at a young age. In The Boy and the Heron, we find Miyazaki unchained, free to create something from the hopeful mind of a young boy who has known war and loss, a testimony to the importance of finding and holding on to beauty and love in an unforgiving world.

The film has all the hallmarks of a Studio Ghibli film that Miyazaki became famous for — A young hero facing hardships and a threat from another world, standing against it with a host of unfamiliar creatures. The captivating soundtrack conducted by Joe Hisaishi is awe-inspiring, and no doubt played a part in the film being heralded as a masterpiece and garnering 35 awards, most notably the 2023 Oscar for Best Animated Feature.

WHERE TO WATCH IT- You can find The Boy and the Heron on Netflix, or watch the trailer on YouTube (runtime: 1:55).

Nothing to tune into today folks. We are eagerly waiting for the return of the major leagues this weekend.

? EAT THIS TONIGHT-

Mouthwatering steak sandwiches, delicious burgers… and bamya. Chomp offers a multifaceted menu with a variety of unique dishes that will satisfy your taste buds regardless of what you’re craving.

Our #1 pick is the steak platter. This showstopper features a perfectly cooked sirloin steak on a bed of creamy mashed potatoes, beautifully topped with mushrooms, caramelized onions, and a special mayo-based sauce.

Did somebody say bamya? You’ll find fried okra on Chomp’s menu — don’t knock it till you try it. Because it’s fried, it doesn’t have the same texture as the cooked version we’re familiar with, and lovers of a perfectly crispy bite will find what they want here.

We couldn’t not have their signature offering. The Philly Chomp is a delicious sandwich packed with grilled onions, American cheese, provolone, and mayo, all stuffed in a soft hoagie roll.

WHERE TO FIND IT- You can find Chomp in Golf Central Palm Hills or order it through Talabat if you’re a resident of Sheikh Zayed or Sixth of October.

? OUT AND ABOUT-
(all times CLT)

HAPPENING THIS WEEK-

A reunion of five wealthy friends in Sahel takes a turn in the play Sa7ebna. From tomorrow until Sunday, 20 October at AUC Tahrir you’ll get to follow the narrative where tensions rise, and buried emotions and conflicts come to light. You can grab tickets at Ticketsmarche.

City Centre Almaza is hosting a comedy night with The High Five group on Friday, 18 October. Doors open at 7pm, so catch a spot at the fun-filled evening of laughter on Ticketsmarche.

Calling all plant parents. The autumn edition of the International Flower Expo has begun on Thursday, 10 October at Al Horreya Garden. Take home anything from ornamental plants, trees, and all different kinds of flowers. The expo will continue until Sunday, 10 November.

For the love of tapestry. Today in History is Amsterdam-based Egyptian artist Dina Danish’s first exhibition in Egypt in nearly a decade. Composed of a collection of appliqué tapestries that resemble medieval banners, the exhibition is still open at the Gypsum Gallery till Saturday, 30 October.

HAPPENING LATER-

Got the moves? The 16th edition of Cairo International Jazz Festival will take place from Thursday, October 31 to Friday, November 8, 2024 at the American University in Cairo campus in Tahrir. Tickets available on Ticketsmarche.

The fourth edition of Forever is Now is approaching. This year, a lineup of 12 global visionary artists are ready to display their work at the iconic Pyramids of Giza — including two groundbreaking AI-powered projects. The exhibition will start on Thursday, 24 October and continue till Saturday, 16 November.

Prepare for the sixth edition of The Marakez Pyramids Half Marathon, organized by the TriFactory. Pick your race of choice and start training, because the marathon will take place on Saturday, 14 December. Note: Ticket prices will increase in a week, so get in line for early bird registration on the marathon’s website.

? UNDER THE LAMPLIGHT-

Shred Sisters is a candid depiction of sibling dynamics. Betsy Lerner’s novel follows the complicated relationship between two sisters, Amy and Ollie Shred. Set against the challenges of mental illness, the book begins with Amy’s observations of her older sister, Ollie, who doesn’t fit the typical mold of an eldest daughter.

Ollie’s confidence is suddenly replaced by wild, self-centered, and often reckless behavior, keeping the family on edge. Through Amy’s sharp wit and observation skills, we follow her journey from a lonely childhood in 1970s Connecticut to her college years at Columbia University. As Amy grows up and becomes a successful book editor, Ollie’s unpredictable behavior continues to cast a shadow over her life.

While Ollie steals the spotlight with her wild ways, Amy observes from the sidelines, trying to build her own identity amid the chaos. Lerner explores themes of sibling rivalry, family expectations, and the search for individuality in a troubled home.

Instead of relying on clinical labels of mental illness, she offers a more relatable view. As Amy reflects on her sister’s struggles with what we now call bipolar disorder, the narrative shifts from a medical perspective to one filled with empathy and understanding.

WHERE TO FIND IT- Shred Sisters is available on Amazon.

4

GO WITH THE FLOW

What the markets are doing on 16 October 2024

The EGX30 fell 0.1% at today’s close on turnover of EGP 5.2 bn (25.7% above the 90-day average). International investors were net sellers. The index is up 22.7% YTD.

In the green: Juhayna (+20.0%), Oriental Weavers (+11.1%), and Cleopatra Hospitals (+4.6%).

In the red: Elsewedy Electric (-5.0%), Palm Hills Developments (-4.1%), and Alex Containers and Cargo Handling (-2.6%).

This publication is proudly sponsored by


OCTOBER

28 September - 24 October (Saturday-Thursday): Bastet’s Daughters Exhibition at Craftastic.

7-21 October (Monday-Monday) First Wave exhibition at Downtown Cairo.

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

17-20 October (Thursday-Sunday): Sa7ebna play at AUC Tahrir.

18 October (Friday): High Five group at City Centre Almaza.

18 October (Friday): Ma3 Kamel E7terami season finale at El Masrah Theatre.

18 October (Friday): Massar Egbari and Disco Misr at El Malahy.

18 October (Friday): TriFactory Tough Mudder 5K run at Sodic.

18 October (Friday): Ash at Pyramids of Giza.

18 October - 18 November (Friday-Monday): Cairo Prints Exhibition in Garden City

21-26 October (Saturday-Thursday): Premier Padel P2 Tournament at New Giza.

24 October - 16 November (Thursday-Saturday): Forever is Now art exhibition at the Pyramids of Giza.

24 October (Thursday): Omar Khairat Concert at Monaco Hall, Triumph Luxury Hotel.

24 October - 16 November (Thursday - Saturday): Art D'Egypte’s Forever is Now Bus Tour at the Pyramids.

25 October (Friday): TriFactory Trailmaster run at Wadi Degla.

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

31 October (Thursday): TriFactory’s The Glow Run at Badya Palm Hills.

31 October- 3 November (Thursday-Sunday): Egypt Cheese Festival at Al Horreya Garden.

31 October - 8 November (Thursday-Friday): Cairo International Jazz Festival at the historic American University in Cairo.

NOVEMBER

8 November (Friday): TriFactory’s The Run for Upper Egypt at New Giza.

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

15 November (Friday): Circoloco Ibiza at The Great Pyramids of Giza.

16 November (Saturday): Charlotte Cardin at Cairo Jazz Club 610.

16 November (Saturday): TriFactory Half Marathon at El Gouna.

22 November (Friday): TriFactory TMK run at District 5.

DECEMBER

6 December (Friday): TriFactory PMH warm-up run at District 5.

13 December (Friday): Aura Music Festival at Lac Du Caire

14 December (Saturday): TriFactory’s The Marakez Pyramids Half Marathon at the Great Pyramids of Giza.

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