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THE WEEK IN REVIEW

A new war front in Yemen. PLUS: More credit card limits.

Good morning, friends and happy Friday. Despite the short business week we remained busy with a slew of economic and geopolitical updates towards the end of it.

As you know, productivity, whether at home or at work, has generally been an aspect that we can always improve or enhance. Especially when Mr. Procrastination’s tempting head emerges over our laptop screens promising to stop us from doing what we are supposed to do.

But, not all hope is lost, folks. We can still get back to work with some of the tried-and-tested pointers that we will give you in our guide to ensure that you are as productive as imaginably possible — at your home or in the office.

AND- we need all the productivity as we tool up for the official launch of EnterpriseAM UAE in the coming few days.

If you haven’t already: Sign up for the UAE edition here. Our report, produced in the UAE and in Cairo, is written for decision makers in the UAE as well as executives, investors, and others doing business or deploying capital there.

EnterpriseAM UAE is available to you without charge thanks to the generous support of our friends at Mashreq and is published by 7am UAE time Monday through Friday.

** THAT’S NOT ALL: EnterpriseAM Saudi Arabia is launching later this month. You can sign up here to let us know you’d like to be on the list on launch day. More details soon.

LAST WEEK IN 3 MINS-

THE SHORT WEEK WAS BUSY WITH ECONOMY NEWS-

#1-New credit card restrictions: At least three private banks have announced yesterday new monthly credit card limits for international transactions inside or outside Egypt. The new limits for international credit cards transactions from within Egypt now range from the equivalent of USD 65 at CIB to USD 50 at Abu Dhabi Islamic Bank.

#2- Inflation is easing: Annual headline inflation slowed to 33.7% in December from 34.6% in November according to the latest figures from statistics agency Capmas on Wednesday. That was slightly higher than the median 33.4% prediction by analysts polled by Reuters. Inflation has been cooling since a historic high of 38.0% in September, although analysts have cautioned that inflation might pick up again in the widely-anticipated case of a devaluation of the EGP.

Remember: The CBE’s average inflation target is 7% (±2%) by 4Q 2024 and 5% by 4Q 2026.This target has been in place since December 2022.

#3- World Bank knocks our growth forecast: The World Bank downgraded Egypt’s growth outlook for the current fiscal year owing to persistent economic problems, in its Global Economic Prospects reports (pdf). Real GDP growth is expected to slow to 3.5% in FY 2023-2024, down 0.2% from its last forecast in October, when it penciled in growth of 3.7%.

#4- FX is big on the agenda for President Sisi’s third term: The government came out with a very ambitious target this week to increase FX inflows to USD 300 bn by 2030 — nearly triple the current annual foreign currency revenues — in a report (pdf) from the Cabinet Information and Decision Support Center (IDSC) outlining the state’s strategy.

The roadmap includes:

Growing exports by at least 20% each year to reach USD 145 bn.
Raising tourism revenues by 20% annually to USD 45 bn.
Increasing remittances from Egyptians abroad by 10% annually to USD 53 bn.
Increasing foreign direct investments (FDI) — including investment in real estate — by 10% annually to USD 19 bn.
Boosting Suez Canal revenues — including revenues from maritime services — by 10% annually to USD 26 bn.
Ramping up outsourcing revenues by 10% annually to USD 13 bn.
Securitizing up to a quarter of USD revenues to raise up to USD 10 bn annually.
Converting 38% of current external debt to FDI by swapping debt for stakes in state-owned companies.

Monday’s AM edition has the full story here.

The Madbouly government began to audit costs of caring for migrants, of which there are an estimated 9 mn in Egypt. The measures aren’t aimed to increase the burden on “guests,” but rather to help rationalize resources, understand refugee needs, and facilitate the process of communications with donor agencies and countries, Cabinet spokesperson Mohamed El Homsani told Kelma Akhira on Monday.

ENERGY-

ACWA Power + Hassan Allam Utilities secure land for their USD 1.5 bn wind farm in Egypt: A consortium led by Saudi’s Acwa Power and includes Egypt’s Hassan Allam Utilities, signed a 25-year land usufruct agreement with the New and Renewable Energy Authority (NREA) for its 1.1 GW wind farm in the Gulf of Suez, according to a statement (pdf) released yesterday. The consortium is set to begin site studies for the USD 1.5 bn project, which is expected to begin commercial operations by the end of 2026.

PLANET STARTUP-

Kuwaiti edtech company Baims acquired 100% of Egyptian edtech startup Orcas, the companies announced in a statement (pdf) this week without disclosing the value of the agreement.

We sat down with Orcas CEO and co-founder Hossam Taher, now the consolidated company’s chief strategy officer, to break down the strategic acquisition, the consolidated company’s future plans, and the landscape for the edtech sector in the region.

AROUND THE WORLD IN SEVEN DAYS-

A NEW FRONT IN THE WAR-

The US and UK have carried out strikes against Houthis in Yemen a few hours ago, retaliating against the recent attacks on Israeli-connected vessels in the Red Sea by the Iran-baked group. “Today, at my direction, U.S. military forces — together with the United Kingdom and with support from Australia, Bahrain, Canada, and the Netherlands — successfully conducted strikes against a number of targets in Yemen used by Houthi rebels to endanger freedom of navigation in one of the world’s most vital waterways,” US President Joe Biden said in a statement overnight.

BLINKEN’S MIDEAST TOUR-

Blinken’s shuttle diplomacy in the region wrapped up yesterday: US Secretary of State Anthony Blinken visited the UAE, KSA, Israel, Qatar, Turkey, Greece, Jordan, and Egypt this week in a scrambling bid to prevent regional escalation, coming as the diplomat’s fourth visit to the region since October.

What he said…

… on Palestinian displacement: Palestinian civilians “must be able to return home as soon as conditions allow … They cannot, they must not be pressed to leave Gaza,” he said during his visit to the Qatari capital on Sunday, according to the BBC.
…on postwar plans: Saudi Arabia, Jordan, Qatar, the UAE, and Turkey have agreed to start planning the “reconstruction and governance” of Gaza when the war ends, the diplomat said in Saudi Arabia, Associated Press reports.
… on Houthi attacks: “if it continues, as it did yesterday, there will be consequences”, Blinken said on Wednesday, one day before beginning the military operation in Yemen.

GENOCIDE CASE AGAINST ISRAEL-

The International Court of Justice (ICJ) began hearing South Africa’s case against Israel yesterday. In the 84-page filing (pdf) South Africa accuses the Israeli government and military of “killing Palestinians in Gaza, causing them serious bodily and mental harm, and inflicting on them conditions of life calculated to bring about their physical destruction”. The case described the Israeli acts as “ genocidal in character because they are intended to bring about the destruction of a substantial part of the Palestinian national, racial and ethnic group.”

UNITED AIRLINES BOEING FIASCO-

United Airlines said it found loose bolts and other issues on its grounded 737 Max planes following safety checks after a piece of fuselage from a Boeing 737 Max 9 blew off during an Alaska Airlines flight last week. Boeing shares have plunged as industry analysts warn that the airplane maker could face a widening crisis over its 737 Max model.

The company eventually said it needed to own “our mistake”as airlines and regulators around the world ordered safety inspections of the 737 Max model after the incident.

☀️ THE WEATHER THIS WEEKEND- A sunny weekend lies ahead with the mercury peaking at 19°C during the day and dropping to 12°C at night. Saturday will give us more of the same, with a high of 20°C in the daytime and cooling to a chilly 10°C at night.

HAPPENING THIS WEEKEND-

FILM-

The Panorama of European Film is back. The annual awaited event for film lovers is running from Thursday, 11 January to Saturday, 20 January. Films will be screened at Zawya, Cima Arkan, Point 90, and Zamalek Cinema. You can find the schedule as well as other important information here.

Director Marwan Hamed will be joining Mahmoud Saad in an interview live on stage at the Falaki Theatre in Tahrir on Saturday, 13 January. Mohamed Mohsen will be providing some additional entertainment for the audience with the performance of some Arabic ballads to the tune of Maestro Aziz Al Masry. Keep in mind that this is a no-phone experience, and you will be asked to leave your devices with security. You can book tickets here.

Film aficionados, get ready to walk through 100 years of Egyptian cinema. On Saturday, Qahrawya will take you to famous shooting locations, old cinemas, and the film studios of yore, and to show you the film studios that are doing great work today. You can find the details here, but if you’re already sold on the experience, you can register to join the tour here.

FAIRS-

The Cairo Flea Market is back this Saturday at the Zamalek Fish Garden. There, you’ll have the chance to browse the products of more than 170 local vendors selling handmade products, antiques, secondhand items, and more. It only happens once a month so be sure not to miss it. The market runs from 11am to 7pm but we’d recommend getting there early to avoid the crazy crowds.

MUSIC-

Ready for some nostalgia? If you grew up watching Spacetoon, you won’t want to miss this. ElMashrou3 Band are performing the theme songs you belted along with growing up at ROOM Art Space at Garden City this Saturday. The band will also be playing originals that you haven’t heard yet, and have some surprises up their sleeves. Book your ticket here.

WORKSHOPS-

Practice your knitting and needling skills at a crochet workshop at the Monalisa ArtStudio. This three-hour course will teach you all the crooks and crannies from basic stitching shapes to making scarfs. The course will be taking place every Saturday and Wednesday until Wednesday, 28 February from 1-4pm. Check out their Facebook page for more information.

Stay on task with our productivity guide

Ensuring your productivity does not suffer is now more crucial than ever as the onslaught of information hurled at us through our screens continues to accelerate. Luckily there are some tips and tools you should be aware of that can help you stay focused, motivated, and on track. Here’s an overview of just some of the ways you can stay on top of things over the long run.

#1- GET ORGANIZED- Creating a checklist of things you need to accomplish over the short and long term is a crucial component to making sure you’re on track to meeting your goals.

Start small by making daily to-do liststhat you can refer to throughout the day to help you stay on course.Some experts suggest that breaking down items on your to-do lists into smaller, more manageable chunks increases your chances of effectively completing them. Being more specific about the tasks you expect to complete also forces you to evaluate how realistic your goals are and how much time they’re actually going to require you to dedicate.

#2- PERFORM YOUR TOP PRIORITY TASK WHEN YOUR MOST ENERGETIC-Understanding how your energy levels fluctuate throughout the day is an important factor to consider when creating an effective to-do list. While this varies, early mornings tend to be when the majority of people feel the most energized and alert. If this sounds like you, start the day with some of your most important tasks — the type of work that requires focus and clarity of mind, rather than busy work. Save less critical tasks for later in the day — or whenever you tend to see your energy slump.

#3- OVERESTIMATING YOUR ABILITY TO MULTITASK IS KEY: It’s easier said than done, but focusing on a single task or project at a time is by and large the most efficient way of getting work done. When you’re focused on a single task both sides of your prefrontal cortex are working in concert, but once you introduce a new complex task that energy is split between the two and more often than not, weakened. Simply put, our brains aren’t wired to be doing numerous complex tasks at once. Being a little more one-track-minded also reduces the time and energy exerted on transitioning between tasks and can ultimately improve the quality of your output.

#4- TAKE BREAKS- If you’re looking to maintain your productivity over a longer period you’re going to have to take more breaks. Scheduling regular breaks throughout the day, experts believe, helps maintain motivation and improves your focus. If you think you’re better off just powering through and getting things done, you run the risk of burnout — which poses an even more significant threat to your overall productivity in the long term and a more difficult hurdle to bounce back from later on.

Try out the Pomodoro Technique: One way to remind yourself to take breaks is called the Pomodoro Technique, which suggests that taking a 5-minute break after 25 minutes of distraction-free work is a great way to stretch out your motivation throughout the day.

Choose your breaks wisely…scrolling mindlessly through your phone or making a phone call that can turn into a day-long conversation isn’t a proper break. Simply doing nothing, looking out a window, or, if you have the option, going for a walk, are better alternatives.

#5- LEAVE IMPORTANT TASKS INCOMPLETE…We agree thatthis might sound counterintuitive but hear us out. Some experts suggest that deliberately leaving important tasks unfinished is better than just getting them over with. Assuming you have the luxury of time, leaving projects on the back burner for a little while can improve the quality of your work and increase the chances of you catching mistakes. The idea behind this theory is that unfinished business stays on your mind for longer than tasks you’re able to complete in a single sitting. The more time spent pondering, the better you’re able to come up with a formidable solution or idea.

#6- TECHNOLOGY IS YOUR FRIEND- There are now countless apps you can rely on to help you stay organized and on track:

Todoistis a straightforward to-do list app that can help you create reminders, organize tasks, and keep tabs on your progress packaged in a highly accessible interface that almost anyone will be able to use.
Focus To-Do combines a basic to-do list app with an integrated Pomodoro timer. You also have the option of turning on white noise through the app which can help you concentrate on those extraordinarily taxing assignments.
Trello is great for managing workflow on group projects. You have the option of creating boards that contain all the big picture tasks that need to be completed as well as the ability to collaboratively update progress on each task.
Notion users swear by this app for its versatility. Notion is especially useful for storing and organizing notes and information but it also works for full-scale project management.

#7- ULTIMATELY, THE FOUNDATION OF PRODUCTIVITY IS HEALTH- Getting enough sleep,adequate nutrition and exercise will form the bedrock of your ability to stay focused, alert, and productive for extended periods. Most people need seven hours of sleep every night for healthy neural functioning — being sleep-deprived hinders your body’s ability to regulate stress, retain information, and concentrate for longer periods. Low blood sugar or hunger are other major determinants of poor job performance, but they can be easily counteracted by ensuring regular intake of fruits and vegetables throughout the day.

El Hareefa’s newcomers breathe fresh air into the football film genre + Argylle, the novel is reportedly the best espionage novel since Fleming’s novels. PLUS: Helly’s Smokery offers melt-in-your-mouth brisket

📽 AT THE MOVIES-

El Hareefa’s fancy footwork has won over the audience. The film (watch trailer,runtime: 2:01) follows Maged (Nour El Nabawy), an international school high schooler and semi-pro footballer who is suddenly thrust into an Egyptian public school. He struggles to adjust to this new world, but with the help of Omar (standup comedian Abdelrahman Mohamed) and his amazing football skills, he slowly earns the respect of his classmates, who join him to compete for EGP 1 mn.

The film made an impact despite the fresh faces. Perhaps the one point of critique the movie received before it was released is that the cast is made up of a fresh group of newcomers to the Egyptian big screen. Many naysayers claimed that such young talent wouldn’t be able to carry the movie. Well, we’re happy to report that they were wrong.

Nour El Nabawy was hailed as the one to look out for, but we have our eyes set on someone else. Again, the whole cast could not have been any better. In fact, we could see this movie bombing if it was studded with A-listers instead of these fresh faces. But the performances that stood out the most to us were those behind Shishtawi (Ahmed Ghozzi, who you might’ve seen on The Crown), Mayar, Maged’s little sister (Reema Mostafa), and surprisingly, Mr. Shalash (former football superstar Medo).

The plot may be as predictable as it can get, but you won’t find yourself bored for a second. The young cast’s performances were stellar. They were effortlessly funny, had great chemistry, and were naturally entertaining — even the heartfelt moments we would’ve called cliché had us sniffling a little. We knew what was coming, but were more than happy to stay for the ride.

WHERE TO WATCH- Don’t miss out on these breakthrough performances. You can watch El Hareefa at VOX Cinemas at City Center Almaza and Mall of Egypt, Cima Arkan and Citystars Cinemas.

📚 FROM THE BOOKSTORE-

Step aside Bond…Argylle is here. The novel by Elly Conway has already made a significant impact by transforming it into an Apple TV+ movie that will be released in Egypt next month. But as expected, the movie differs greatly from the book, which is why we believe it deserves a review of its own.

First of all, who is Elly Conway? The pseudonym has been making ripples, even some crediting Taylor Swift (we are not rolling our eyes) as the one who penned this tale. However, it an account on X named after Conway surfaced which showcases the author as a book geek from New York who had no idea that fame would be knocking on her door.

And now, who is Argylle? The events of the novel begin after we discover the aspirations of a Russian tycoon who intends to bring his country back to its former glory, leading to a series of events that push the world toward the edge of anarchy.

In comes the CIA’s top espionage personnel (of course) Frances Coffey, who is portrayed as the only hope to control the chaos. She brings on the assistance of Argylle, an agent with a troubled history who possesses unique skills that can bring back order to the world (sounds familiar?) but not without a few bumps on the way.

Conway wrote the book promising to ‘reinvent the spy genre’, even Matthew Vaughn, the director of the film and Kingsman series, called it “ the most incredible and original spy franchise since Ian Fleming’s books.” Stay tuned for our movie review.

WHERE TO FIND IT- You can read Argylle on Amazon Kindle.

🍴 HOT AND FRESH OUT OF THE KITCHEN-

Burgers, brisket, and soft golden buns… What more can you ask for?Helly’s Smokery is a brisket maker of the highest order, offering a range of smoked meat in every form. Located in Obour, the smokehouse is the first in Egypt to expose their burger patties to the heat coming from burning wood, giving them that juicy smokey taste.

Brisket, any way you like it. Want a hearty brisket sandwich? We suggest the Truffles Brisket, a delicious heap of shredded smoked beef topped with coleslaw, pickles, onions, and truffle mustard between two slices of brioche.

Feeling something less carb-y? The Brisket Wrap comes stuffed with fries (we said ‘less’), melted cheddar, and pickled onions accompanying the brisket. The pico de gallo and the chimichurri give the wrap a brighter taste, which will make it feel a little lighter. A more familiar wrap is the Shawerma Brisket, which comes with the trappings of a regular shawerma that we all love.

Don’t miss out on their smoked burgers — The Truffle Shroom is a must-have. The truffle mayo, pickles, emmental, and fried onions make for the perfect bite. A tried and true is the Old is Gold burger, a classic take on a trusty burger with pickles, tomatoes, lettuce, and American cheese. But it wouldn’t be a Helly’s original without their signature sauce.

For something on the side, we suggest the Mac and Cheese. We scarfed it down faster than we care to admit and could’ve gone for seconds. If you’re feeling particularly carnivorous, order the side topped with smoked brisket.

Disclaimer: Their brisket is such a hit that it regularly sells out. Make sure you get there in time to enjoy it.

💵 Per person: EGP 300-350

🪑 Outdoor seating: Yes

🍺 Alcohol: No

🦽 Accessibility friendly: Yes

Fading Afternoon is an 8-bit game with a ticking clock that makes you choose wisely

Time is important for gamers. Whether you’re tracking how many hours you’ve spent on your favorite game, attempting a speedrun, or rushing to finish tasks before your time runs out. What Fading Afternoon has you think about is how you spend your time. From multi-endings, exploring the city, and even a fishing mini-game, we like to think of Fading Afternoon as Stardew Valley ’s evil twin.

This 8-bit yakuza game has you play as Seiji Maryama, a respected gangster fresh out of prison. He’s not a young man anymore, and he knows it. What he doesn’t know is how much time he has left. Soon after the game begins, Seiji coughs up some blood, and you can see his HP deteriorate. His dwindling health bar is your timer for finishing the game, so use it wisely.

How long will it take? You’ll never really know. It could be five minutes, it could be five days — each playthrough is different. That being said, you can spend your time however you want to. You could go to work for your boss: beating opponents up on the streets of Japan. You could do nothing but listen to a jazz band. You could play poker, you could buy a home, fall in love. You have all the game time in the world.

⌛ Hours of gameplay: Each playthrough can take 3-6 hours.

💵 Price: USD 10.49

👾 Platforms:Steam for PC, available soon on Nintendo Switch.

Ghost Church discusses how mediums and seances came to be

Everyone has their own relationship with spirituality, with some leaning into it more than others. Ghost Church is a podcast by comedian and podcaster Jamie Loftus that explores these relationships throughout American history. How did it all start as a prank by two teen sisters in the mid 1800s, how did mediums conversing with the deceased come to be? What is the role of religion within these groups and those drawn to them? How does grief drive these endeavors and extend to tarot cards and seances?

In the nine-part series, Loftus takes on the task herself and explores different ways people try to connect with the spirit world. In one episode she researches table tipping, which is a form of seance allowing spirits to communicate, by attending a class on it and experiencing the phenomenon for herself.

You can listen to Ghost Church onYoutube, Apple Podcasts, Google Podcasts, Spotify, Deezer, and Audible.

ENTERPRISE ENTERTAINMENT CALENDAR

JANUARY

11 January - 20 January (Thursday-Saturday): Panorama of the European film at Zawya, Zamalek Cinema, Cima Arkan, and Point 90 Cinema.

11 January-24 January (Thursday-Wednesday): Cairo Art Fair at TAM Gallery at District 5.

12 January (Friday): Power Ride Sports’ Galala Challenge.

12 January-22 February (Friday-Thursday): Cairo Art Fair at TAM Gallery at Abu Rawwash.

13 January (Saturday): Saad ElOud concert at Cairo Jazz Club.

13 January (Saturday): Spacetoon Concert ft. ElMashrou3 Band at ROOM Garden City.

13 January (Saturday): Movie Night Under the Stars at Ahimsa.

13 January (Saturday): Cosmos Cinema Tour with Qahrawya.

15 January (Monday): Henedy Watch Party at Cairo Jazz Club 610.

16 January (Tuesday): Karaoke Night at ROOM Garden City.

19 January (Friday): Amr Selim Live in Concert at the Cairo Opera House.

19 January (Friday): Comedy Bunker West at Elmasrah Theater.

20 January (Saturday): Comedy Bunker East at Elmasrah Theater.

21 January (Sunday): Amplified concert ft. Medic and Mythos at El Sawy Culturewheel.

25 January (Thursday): Revolution Day.

26 January-6 February (Friday-Tuesday): Cairo International Book Fair.

27 January (Saturday): 24 in 2024 art exhibition at Picasso East.

FEBRUARY

1-4 February (Thursday-Sunday): Fujifilm Egypt Festival at Consoleya.

2 February (Friday): Darb 15’s Garage Sale in Maadi.

21-22 February (Wednesday-Thursday): Omar KhairatHafliti concert at the Cairo Opera House.

MARCH

1 March (Friday): Cairo Half Marathon by Cairo Runners.

11-12 March (Monday-Tuesday): Creative Industry Summit.

APRIL

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

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

MAY

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

5 May (Sunday): Coptic Easter.

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

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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A new war front in Yemen. PLUS: More credit card limits.

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Stay on task with our productivity guide

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El Hareefa’s newcomers breathe fresh air into the football film genre + Argylle, the novel is reportedly the best espionage novel since Fleming’s novels. PLUS: Helly’s Smokery offers melt-in-your-mouth brisket

Related

Fading Afternoon is an 8-bit game with a ticking clock that makes you choose wisely

Related

Ghost Church discusses how mediums and seances came to be

Related

ENTERPRISE ENTERTAINMENT CALENDAR

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Get productive

An independent publication supported by

Today at a glance

A new war front in Yemen. PLUS: More credit card limits.

Get Enterprise daily

Related

Related

Stay on task with our productivity guide

Related

This publication is proudly sponsored by

El Hareefa’s newcomers breathe fresh air into the football film genre + Argylle, the novel is reportedly the best espionage novel since Fleming’s novels. PLUS: Helly’s Smokery offers melt-in-your-mouth brisket

Related

Fading Afternoon is an 8-bit game with a ticking clock that makes you choose wisely

Related

Ghost Church discusses how mediums and seances came to be

Related

ENTERPRISE ENTERTAINMENT CALENDAR

Related

An independent publication supported by

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