New winter destinations

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THE WEEK IN REVIEW

THIS WEEKEND: Gaza truce expires + ACUD IPO could pull in EGP 150 bn

Good morning friends, and welcome to the weekend. Alas, winter has cometh and tis’ the season to consider where you want to spend the holidays.

Considering that our wallets are still gasping for air, we have considered some winter destinations that defy the usual choices and are also more budget-friendly.

Enterprise Weekend comes out each Friday at 9:00am CLT. We’ll be back on Sunday at 6am with EnterpriseAM. Until then: Enjoy the weekend.

LAST WEEK IN 3 MINS-

CEASEFIRE AGREEMENT EXPIRES IN GAZA-

#1- The week-long temporary ceasefire expired this morning after Israel resumes airstrikes on Gaza, claiming that Hamas has violated the truce by firing a rocket towards Israel, AlArabiya reports.

Initially, Hamas and Israel agreed to extend the four-day ceasefire that started on Fridayby 48 hours under a pact brokered by Egypt, Qatar, and the US. The initial truce was scheduled to expire on Tuesday but was pushed to end on Thursday after Hamas agreed to release more hostages.

#2- Since the initial ceasefire went into effect, Hamas released 69 hostages in exchange for Israel releasing 150 Palestinians. Day five of the prisoner exchange saw Hamas release an additional 13 hostages, while Israel freed 30 Palestinians, bringing the running total to some 82 Israelis released in exchange for 180 Palestinians.

#3- Israel might be releasing some Palestinians — but it’s arresting even more: While Israel released 150 Palestinians since the truce entered into force, it has arrested 168 in the West Bank during the same period.

#4- Aid trucks eventually increased to around 200 per day. This comes days after the temporary ceasefire came into effect, but it still remains far below the 500 trucks that crossed the border before the war.

Israel has also been allowing 130k liters of fuel a day into Gaza, which is still just over 10% of pre-war volumes.

#5- An extended truce wasn’t enough to meet Gaza’s huge aid needs: “Even with that additional amount of time, it will be impossible to satisfy all the dramatic needs of the population,” UN Secretary-General Antonio Guterres told reporters.

…and the lack of aid is causing a surge in disease outbreaks. WHO has warned that more people could die from disease than from bombing in Gaza as long as the healthcare system remains defunct.

#6- The Biden administration is reportedly urging Israel to refrain from carpet bombing south Gaza in the manner it did in the north, and instead use more precision to target Hamas operatives.

...and some European governments have also used the pause to intensify their criticism of Israel’s war: The Spanish prime minister accused Israel of indiscriminate violence and called for a Palestinian state, while The UK’s new foreign secretary, David Cameron, called the expulsion of Palestinians in the West Bank by extremist settlers “ completely unacceptable.”

MEANWHILE, WE A HANDFUL OF PRIVATIZATION DEVELOPMENTS-

#1- ACUD could raise more than EGP 150 bn when it goes ahead with its anticipated IPO on the EGX. Administrative Capital for Urban Development (ACUD), a joint venture between the military and the Housing Ministry, plans to offer 5-10% of its shares on the Egyptian Exchange in a sale that some have speculated could be the largest-ever public share sale in Egypt.

#2- United Bank stake sale could be announced this year: The United Bank is expected to pull back the curtain on its sale agreement in mid-December as it currently awaits mandatory tender offers (MTO) from the bidders, a source at the state-owned lender told Enterprise. Most of the potential buyers have completed due diligence on the bank, the source added.

United Bank is one of two state-owned banks in which EBRD is reportedly interested in taking a stake. The European Bank for Reconstruction and Development (EBRD) is reportedly looking to grab stakes in United Bank and Banque du Caire, two of the three banks — along with the Arab African International Bank — slated for the government privatization program.

#3- An Emirati investor wants 100% of Misr Life Ins. and has submitted an initial offer to company owner the Sovereign Fund of Egypt (SFE). The SFE is looking into the offer but is likely to reject it in favor of moving forward with its initial plan of listing 25% of the company’s shares during 1H 2024.

#4- UAE and Qatar are eyeing pharma acquisitions: Emirati and Qatari sovereign wealth funds and investors are eyeing stakes in state-owned pharma companies Chemical Industries Development (CID) and Misr Pharma. Pre-IPO stakes of around 30% in each company could be offered.

AND A FEW ECONOMY UPDATES-

#1- Some businesses are now required to settle their value-added tax (VAT)dues in FX if the service or product they offer is invoiced or paid for in foreign currency. Also, businesses can settle their foreign-currency VAT dues in local currency equivalent if they present evidence that they’ve exchanged FX worth the same amount or more than the value of the VAT within a month of the sale.

Importers won’t have to do the same: The regulatory amendments do not apply to import operations. VAT will only be collected in FX from companies that are licensed to transact in foreign currency.

#2- Fitch Ratings downgraded the operating environment score of four of Egypt’s biggest banks on the back of their high exposure to sovereign debt and the FX crisis weighing on investor confidence. Fitch lowered the score of the National Bank of Egypt, Banque Misr, Banque du Caire, and CIB to ‘B-’ from ‘B’ and revised its outlook to stable from negative.

#3-More speculation on the inevitable float. The devaluation will follow the presidential election in December and will be joined by a 200 bps interest rate increase, according to Arab World News Agency coverage of a Capital Economics report. The exact post-float rate wasn’t explicitly mentioned, but is currently officially set at 30.95 to the USD and 48-53 to the USD in the parallel market. EFG Hermes and BMI are optimistic that a successful float could see the EGP recover a bit.

SOME ENERGY NEWS-

#1- We are on track with resuming LNG exports: An LNG vessel reportedly arrived at one of Egypt’s liquefaction plants at the start of the week. Days later, a government official said we’re going to be resuming gas shipments in January after half a year with virtually no LNG leaving our country.

#2- Egyptian Refining Company (ERC) plans to invest USD 150 mn to ramp up production levels by 10% over the next three years. The Qalaa Holdings subsidiary’s total output, excluding fuel and losses, recorded 2.3 mn tons in the first half of 2023.

#3- USD 2 bn green complex in the works in SCZone: The Suez Canal Economic Zone (SCZone) signed a letter of intent yesterday with China’s Befar Group to establish a green chemical complex in East Port Said, according to an SCZone statement. The complex will be powered by renewable energy and the first phase will cost USD 500 mn.

#4- Madbouly signed off on two solar projects:The cabinet approved a contract for Norway’s Scatec to set up a 1 GW solar power plant with a battery energy storage system. The ministers also gave China’s State Grid the green light to begin feasibility studies on a 10 GW solar project.

SOME LOAN AGREEMENTS-

#1- The new capital light rail project is getting a USD 250 mn loan: The Chinese consortium contracted to work on the fourth phase of Cairo’s light rail transit (LRT) system will arrange a USD 250 mn soft loan from a syndicate of international banks to help finance the project.

#2- Al Ahly Leasing and Factoring has raised EGP 1.1 bn via a securitized bond issuance that closed yesterday. The issuance was backed by a EGP 1.7 bn portfolio of leasing contracts securitized by Al Ahly Securitization Company.

#3-NBE is on the lookout for a USD 50 mn EBRD loan for SMEs: The National Bank of Egypt (NBE) is currently in talks with the European Bank for Reconstruction and Development (EBRD) to obtain a USD 50 mn loan to support financing to agricultural projects and SMEs.

#4- NUCA wrapped its EGP 30 bn securitization program: The New Urban Communities Authority (NUCA) closed a EGP 15 bn securitized bond issuance, the second and final issuance of its EGP 30 bn program.

MORE M&A IN THE PIPELINE-

#1- e-Finance could acquire two companies: State-owned fintech firm e-Finance is in talks to acquire two retail-focused digital payments companies, the first of which was approved by the board last month and is expected to wrap up by the end of the year. A second acquisition is now under review and could be finalized during 1H 2024.

#2- Savola’s Panda joins bidding for Alfa stores: Saudi grocer Panda is among three supermarket chains looking to purchase six stores from struggling retailer Alfa Market. The company, owned by Saudi food conglomerate Savola, is reported to have already reached an agreement with Alfa to take over its Maadi branch.

A DISPUTE THAT WAS FINALLY SETTLED-

#1- Egyptian Supreme Administrative Court (SAC) ruled in favor of LSE-listed gold miner Centamin’s Sukari mine after over a decade of battle. The lawsuit originally challenged the validity of Sukari’s exploitation lease between the Egyptian government, Centamin's Egyptian subsidiary Pharaoh Gold Mines (PGM), and the Egyptian Mineral Resource Authority (EMRA), but the court has now rejected the case citing the claimant as having “no capacity to bring the claim,” seeing as he was not part of the concession agreement.

FINANCE-

#1- Fawry’s testing environment was confirmed to have been hacked, but financial data is safe. A forensic audit of more than 2k servers has found that a portion of its testing environment was hacked last month. The breach resulted in the compromise of some customers’ personal data, but no data that would allow someone to execute financial transactions on the company’s system. Fawry’s thorough investigation has found no evidence that the breach exposed financial data.

#2- The golden license e-platform is now online: The one-stop shop golden license to set up projects in Egypt can now be applied for online.

AND SOME FOREIGN INVESTMENT INTEREST-

Turkish textile manufacturer Küçükçalik Group is planning to start work on a USD 500 mnsynthetic fibers factory in the Suez Canal Economic Zone (SCZone) in January, a move that could reportedly lower the country’s annual import bill by USD 1 bn.

WHAT’S HAPPENING NEXT WEEK-

Egyptians abroad have until Sunday, 3 December to head to the polls to cast their presidential ballots — which open today — and choose between incumbent President Abdel Fattah El Sisi, Al Wafd Party’s Abdel Sanad Yamama, the Egyptian Social Democratic Party’s Farid Zahran, and the Republican People Party’s Party Hazem Omar.

Egypt Defence Expo runs from 4-7 December (Monday-Thursday) at the Egypt International Exhibition Center.

The Engineering Export Council of Egypt is heading on a trade mission to Saudi Arabia 9-15 December (Saturday-Friday).

Check out our full calendar on the web for a comprehensive listing of upcoming news events, national holidays and news triggers.

YOUR MOST CLICKED LINKS-

Fahmy Hanna’s appointment as a non-executive Chairman of SAIB bank was often clicked. (SAIB website)
News of Turkish textile manufacturer Küçükçalik Group investment in Egypt was widely read. (Enterprise)
…and its local subsidiary KCG Textile Egypt received plenty of interest, too. (KCG Textile’s webpage)
The cabinet statement on what the Madbouly government is doing to address the FX crunch was opened frequently. (Cabinet statement)
The golden license’s e-platform was heavily visited. (Golden license e-platform)

AROUND THE WORLD IN SEVEN DAYS-

Ultra-fast fashion retailer Shein’s filing for a US IPO was all over the business press this week. The Chinese-founded retailer’s filing is expected to be New York’s largest IPO of the decade and could help Shein expand its global footprint. The fast-fashion giant, last valued at USD 66 bn in May has seen major growth in recent years despite serious concerns surrounding its environmental impact and labor practices. Goldman Sachs, JPMorgan Chase, and Morgan Stanley were reportedly tapped to advise on the listing, which could happen as soon as 2024.

Sam Altman’s return to OpenAI continued to generate digital ink: Sam Altman was reinstated late last week as CEO of the high-profile AI company behind ChatGPT just five days after getting sacked by the board — a move that solicited threats from employees and pressure from investors to reinstate the chief executive. The board that fired Altman, which was in place to ensure the “safe development” of AI, has since been replaced by a three-man provisional board.

ALSO- Russia’s drone attack on Kyiv generated some headlines. The attack was dubbed by city officials as “the most massive air attack by drones on Kyiv,” since the start of Russia’s invasion of Ukraine last year.

The influential yet polarizing diplomat Henry Kissinger passed away at the age of 100. Supporters of the former US secretary of state praise him for negotiating the end of the Vietnam War, easing tension with the Soviet Union and China, and holding the Middle East together after the 1973 war. But critics remember him for brutally bombing Cambodia and Laos, engaging in Indonesia’s genocidal campaign in East Timor, and standing behind General Augusto Pinochet’s takeover of Chile.

Another death earlier this week was Charlie Munger’s, right-hand man of Warren Buffett, who died aged 99 saw lots of coverage in the financial press: Munger, who was second-in-command to business magnate Warren Buffett for almost 60 years, died aged 99. Under their management, Berkshire Hathaway averaged an annual gain of 20% between 1965 and 2022 to become the multi-bn USD conglomerate that it is today.

HAPPENING NOW-

COP28- Climate experts, NGOs, and journalists landed in the Emirates yesterday for two weeks of COP28. Keep up with the details on Enterprise Climate.

HAPPENING THIS WEEKEND-

ART-

Meet the virtual Tutankhamun. The Grand Egyptian Museum is hosting an interactive Tutankhamun exhibition, in partnership with the Spanish Madrid Artes Digitales Foundation. The exhibition kicked off and will continue until Saturday, 16 December. You can book your tour from here.

BAZAARS-

The Christmas Charity Bazaar will bring the warmth of the holiday season today, at All Saints’ Cathedral, Zamalek. The bazaar runs today from 10:30am until 4pm. Proceeds will benefit a variety of charities here in Egypt.

MUSIC-

Syrian-German band Shkoon is performing in Egypt for Gaza. The concert will be held at the Pyramids today. Part of the concert’s proceeds will be donated to humanitarian aid dedicated to Gaza. See if you can still get some tickets here.

Wael Al Fashni x El Sawy Culturewheel. The Egyptian singer Wael All Fashni will be performing at El Sawy Culturewheel, Zamalek tomorrow. Tickets are available here.

ART-

Nurture your inner artist at the self-portrait workshop hosted by Dawar Arts every Saturday until 16 December. Click here for more information.

FILM-

Zawya cinema will be screening five movies for the late director Ali Badrakhan starting tomorrow until Tuesday, 26 December. You can know more about the schedule from here.

HAPPENING NEXT WEEKEND-

The Cairo Art Book Fair is happening in the cultural city of Ghurnata inHeliopolis. The exhibition will display prints and books alongside a series of lectures and artistic discussions. The event will take place between 7-9 December.

Awardwinning Egyptian author Ashraf El-Ashmawi will be hosting a book signing eventfor his latest novel Maximum Speed Zero at Bibliothek Egypt on Saturday, 9 December at 5:30pm. The novel follows the journey of an Egyptian family who experience peculiar occurrences and encounter different individuals that influence their destinies.

Get out of town without breaking the bank

Getting out of Om el Donia for a respite this winter is still possible, even on a budget. Our guide this week comes to you with a selection of international destinations that may not have come across your mind when you think of traveling during the winter.

Aside from the appeal of being new destinations, these countries are also easier on the pocket — or can be, depending on how much you intend to spend.

ORGANIZING A TRIP CAN BE A CHORE- Planning and budgeting yourself can be as draining as waking up early to go to work, which is why to save you the hassle and stress we’ve got a list of travel agencies that can do the dirty work for you:

REMEMBER- As always, all exchange rates are subject to change due to the season.

DESTINATION #1-

MARRAKECH- Nestled in the heart of Morocco, this vibrant city is a destination that captivates visitors with its bustling souks, rich history, and stunning architecture.

With milder temperatures and fewer crowds, winter in Marrakech opens up numerous opportunities to immerse yourself in the city’s vibrant energy and cultural hotspots.

LOCATION- It’s in the northwest of Africa — we are literally neighbors.

VISA- Required, but the list is relatively short.

TRAVEL- It’s five hours from Cairo to Casablanca. Then you have the option to either take an hour flight from Casablanca to Marrakech or rent a car/hail a taxi to drive to Marrakech which will cost you around MAD 500 which is equivalent to EGP 1.5k.

FLIGHT TICKET PRICES- The price for flights ranges from EGP 12k to 15k from Cairo to Casablanca. Then from Casablanca to Marrakech, flights cost roughly EGP 5.5k.

LANGUAGES- Moroccan people speak Spanish, French, Arabic, and English — thank you, European colonization.

CURRENCY- Moroccan Dirham, MAD 1 = EGP 3.05.

ACCOMMODATION COSTS- Stay in a stunning Moroccan riad, immersing yourself in the rich cultural heritage and indulging in the luxurious tranquility it offers. Prices start from EGP 1k up to EGP 10k per night.

MUST DO/VISIT- One of the many places that tourists flock to is the Jemaa El-Fnaa, which is the souk or market where the majority of your shopping will be. Other places that tourists flock to are the Jardin Majorelle and YSL museum. You can also marvel at the snow-capped peaks of the Atlas Mountains, or make your own Moroccan slippers. If you are looking for other activities you can click here and see what Marrakech has to offer.

DON’T MISS OUT ON-

#1- Authentic Moroccan food…obviously? A popular local haunt of national dishes is Ali Ben Fallah and Paolo, or you can opt for the restaurants in Jemaa El-Fnaa. There is also the Babbouche (snail soup), Sfenj (moroccan donut), Atay (Moroccan tea) and their vast collection of tagines.

#2- Moroccan hammam: Similar to a Turkish hammam, where it has steam rooms, saunas, and followed by a scrub with their ‘beldi’ soap to remove sins and dead skin. To avoid foreign price fluctuations Alf Leila W Leila is price appropriate.

PRO TIP- When going to Jemaa El-Fnaa (Marrakech Souk) keep an eye out for pickpockets.

DESTINATION #2-

#2- RIYADH- Come winter a new dimension of cultural exploration emerges as there are mostly sunny skies without the regular scorching summer temperatures.

LOCATION-Saudi Arabia’s capital city across the Red Sea.

VISA- Required. Their list is longer and requires some preparation before making your visit.

TRAVEL- It’s two hours and a half from Cairo to Riyadh.

FLIGHT TICKET PRICES- The tickets will set you back EGP 5k to 7k.

LANGUAGES-Arabic is the official language but English is also spoken informally.

CURRENCY- SAR 1 = EGP 8.24.

ACCOMMODATION COSTS- The upcoming bustling city has a lot to offer regarding accommodation from affordability to straight up luxury, which will move you into broke-ville in no time. Prices start from EGP 1k up to EGP 45k per night.

MUST DO/VISIT- Explore the ancient wonders tucked amidst modernity at The National Museum of Saudi Arabia. Indulge in Saudi’s national cuisine at Najd Village. You can also discover the kingdom’s traditional markets at Souk Al Zal, and, perhaps, even get the bedouin experience. If none of the options speak to you, look at this list to consider other options.

DON’T MISS OUT ON-If you want a break from the city you can escape to Saudi’s new retreat hotspot AlUla. They offer a variety of tiers of hotels but the ones that are budget friendly are Habitas and Cloud7. If you’re worried about activities, they’ve got you covered from wellness to hiking.

PRO TIP- The dress code matters in Saudi culture and women are expected to cover their legs, chest and shoulders — keeping your hair exposed is permitted. Also, if you’re a group, men and women are not allowed to room together unless married and have proof of marriage.

DESTINATION #3-

TALLINN- Probably not the first city to cross your mind when thinking of winter getaways abroad, but if you fancy nippy weather, cobbled streets, and fairytale-like old towns topped with snow-covered rooftops, twinkling lights, and cozy cafes, then Tallinn in Estonia should be on your itinerary.

LOCATION- It’s Estonia’s capital city by the Baltic sea.

VISA- Required. Estonia is a Schengen country, so if you have a visa, you can book your ticket and head over there.

TRAVEL- Flights are tricky: Since there’s no direct flight to Tallinn the flight duration will be between seven to 14 hours, including layover.

FLIGHT TICKET PRICES- The ticket prices range fromEGP 7k to 13k, depending on dates.

LANGUAGES- Estonian is the official language but English is also spoken informally.

CURRENCY- EUR 1 = EGP 33.60.

ACCOMMODATION COSTS- Best thing about hotels in Tallinn is that everything is walking distance or you’ll need a short taxi trip. Prices start from EGP 1k up to EGP 7k per night.

MUST DO/VISIT-The city is packed with medieval architecture and sites such as the Toompea Castle and Alexander Nevsky Cathedral. The winter season also offers a unique opportunity to experience Estonia’s rich cultural heritage, with traditional Christmas markets, ice skating rinks, and captivating folklore performances,

DON’T MISS OUT ON-

Exploring more. Tallinn is a busy city during the winter, and investing more in your activities and sightseeing is more important than splurging on where you are staying.

PRO TIP- The weather in Tallinn can go well below the zeros — so you need to layer up. Packing that thermal, jacket, scarf, boots, and beanie will be essential to your stay.

DESTINATION #4-

HONG KONG- This melting pot of Chinese and international culture is another destination worth a go.

LOCATION- In the south-eastern tip of China, it’s not a part of China, or an independent country, it is a Special administrative region (SAR) of China.

VISA- Not required — yay— but only for up to 90 days.

TRAVEL- There are no direct flights to Hong Kong, so expect an overall flight duration to take between 13 to 20 hours, including layover.

FLIGHT TICKET PRICES- The ticket prices range fromEGP 17k to 60k, depending on dates and the number of stops.

LANGUAGES- The top three languages spoken in Hong Kong are Cantonese, Mandarin and English.

CURRENCY- HKD 1 = EGP 3.97.

ACCOMMODATION COSTS- While the accommodation is relatively modern with a hint of Asian oriental design, you’re ensured a view of the city. Prices range from EGP 2k-20k per night.

MUST DO/VISIT-The city is packed with things to do. To avoid being overwhelmed we suggest visiting some of their small independent shops, exploring historic landmarks such as the Cape D’Aguilar’s Lighthouse, one of Hong Kong’s museums, and getting some street eats and more.

DON’T MISS OUT ON-

DISNEYLAND- If you’ve budgeted your way through the trip and managed to save an extra few geneehs splurge on a day at Disneyland Hong Kong to treat your inner child — or real children — for EGP 3k.

PRO TIP- While you might think the early bird gets the worm, you won’t be able to experience the true local lifestyle in Hong Kong’s markets until after sundown where all the locals come out and play music.

Scott’s Napoleon is a fusion of emperor and man-child + Take the wolfpack to El Mohammady this weekend

? AT THE MOVIES-

Ridley Scott’s Napoleon starts in medias res, depicting the French emperor’s story as that of a rising star doomed to collapse. Once larger than life, Napoleon Bonaparte (Joaquin Phoenix) is just a man, and a mercurial one at that. The movie (watch trailer, runtime 2:38) introduces him mid-revolution as a gunnery officer, who through no ambitions of his own, seems to fall backwards into positions of power.

Scott delivers a meticulous profile of the autocrat, but those hoping to see blood will find it in glorious battle. What would a Napoleon movie be without sword fights atop horseback and cannons firing into crowds of civilians and soldiers alike? The film shows how Bonaparte’s battle strategy prowess never comes into question, but his performance on the field — is depicted more like a reindeer in headlights — and it is that character that sets the film apart from previous depictions of the leader.

History has not looked back fondly on the dictator, and Scott makes a great case as to why it shouldn’t, though it’s not why you’d expect. Scott’s Bonaparte is not evil, he’s petty. His passion isn’t governed by conviction, but by entitlement. The idiosyncrasies of Napoleon are expertly played by Phoenix, though that comes as no surprise.

He is a war hero, a king, an emperor, and a jealous man-child. Marching into Egypt, Napoleon discovers his wife’s infidelity, and instead of standing by his troops, he goes back home to confront her, but not before informing the guiltless messenger that he would be denied dessert that night. The childishness of some of Napoleon’s outbursts had moviegoers chuckling — it definitely paints a different picture of the leader than the stoic figure we imagined.

The French don’t agree with the generallyfavorable reviews.The Guardian awarded the film five stars, but French GQ dismissed it as a “deeply clumsy, unnatural, and [an] unintentionally funny” rendition of history. Le Figaro said that it should’ve been titled “Barbie and Ken Under the Empire,” it was accused of being anti-French, but more accurately it is candidly anti-Napoleon.

While Scott does humanize the emperor, he does not make him easy to sympathize with.The film leaves no room for speculation when it comes to how the director feels about Napoleon. It’s not often that you see movies dedicated to figures the creators despise. Scott indubitably takes many creative liberties, but he doesn’t care for historical accuracy. His job is to deliver a compelling and visually stunning story. And he does.

WHERE TO WATCH-Napoleon is conquering VOX Cinemas at City Center Almaza and Mall of Egypt, Citystars Golden Stars Cinemas, Cima Arkan, Zawya, and Cairo Festival City theaters.

Oldboy (watch trailer, runtime: 1:56) is back for its 20th anniversary. The South Korean masterpiece is now remastered, and a 4k version has re-entered theaters recently and film buffs couldn’t be happier.

ICYMI- A man named Dae-su Oh (Choi Min-sik) is finally released from 15 years of being held captive in a hotel room by an unknown captor. Once he is mysteriously released, he goes on a search for the identity of the person responsible. Having already lost everything, and nothing on the line, he dedicates his life to figuring out what he did to deserve the years of torment.

Another South-Korean gem: It’s understandable why the movie is worthy of a re-release. Dark and gritty as it may be, the events that transpire are truly captivating, even when not entirely believable. The film has it all, action, drama, comedy, gore, and dark and twisted characters. We will warn you though, not everything you’ll watch is…palatable.

Director Park Chan-wook creates a deeply disturbing world that will haunt you long after you’re done watching. But, the actors deserve praise too. Min-sik delivers an exceptional performance, perfectly capturing the sad and tormented nature of his character. He adds to the drama without too many theatrics, and will have you both sympathizing for and hating the man he plays.

Definitely not a family flick, but if you’re looking for a movie that will leave you both disgusted and amazed at the execution of the production, this one’s for you. The plot twist will leave you reeling, but Chan-wook places his own spin on the seeking revenge genre that makes this such an international contemporary classic.

WHERE TO WATCH-You can watch Oldboy in Zawya.

? FROM THE BOOKSTORE-

Ghosts have been embedded in cultures around the world for centuries, from obscure figures clad in white sheets, glowing skulls, and translucent silhouettes floating through walls. So where do these portrayals come from? And what influences the way we depict them?

Susan Owens is on a quest to uncover these questions and more in The Ghost: ACultural History. A combination of cultural and technological changes impacts how we view the macabre, as well as what it means to us.

Why do ghosts exist? The book explains that ghosts may serve to scare us or remind us of the presence of death, and they could serve as a reassurance that death is not as final a state as it seems.

Published in 2017, the book may lack context from recent years (especially post-pandemic), but it still offers a comprehensive history of hauntings through art, literature, religion, and technology, making it the perfect read for fans of history, spiritualism, and the supernatural.

WHERE TO BUY THE BOOK-The Ghost is available in paperback on Amazon US for USD 26.7.

? HOT AND FRESH OUT OF THE KITCHEN-

El Mohamady offers a delightful fusion between the Western and Middle Eastern cuisine. Located in Arabella Plaza, New Cairo, and The Gate Plaza, Sheikh Zayed, it’s a well-known restaurant that blossomed in Mansoura decades ago and expanded into the capital in 2021.

Go in a pack — and don’t bring the vegetarians. The menu is very long and has many items, but mainly serves meat.

The marination and the tenderness of the meat are what makes El Mohammady special. The restaurant is best known for its slow-cooked lamb cuts that are tender and taste good.

Their Walema plate is a good starting point for a complete meal: It involves lamb meat marinated with Arabic spices and cooked in a wood-fired oven until buttery and served with rice mixed with nuts. You can also opt for mashed or fries.

The meat mixed grill is a classic choice: It does have a bit of everything off the charcoal served with brown rice and mashed potatoes.

The slow-cooked brisket is highly recommended. This recent addition to the menu is typically accompanied by mac’n’cheese, which despite being an Egyptian restaurant, isn’t too bad. Even though the layer of melted cheese on top of the pasta may feel like a macarona bel bechamel it did enter the clean plate club. However, don’t let it cool as it will end up rubbery and unpalatable.

While the Molokhia dish falls somewhere in the middle in terms of taste, it can be enhanced by combining it with white rice and turkey breast pieces.

Another highlight of the menu is El Mohamady soup. It offers a pleasant hint of spiciness without overwhelming the palate. This delightful soup combines meat and chicken cubes with sautéed fresh mushrooms and onions.

For those seeking a shared dining experience, the grills at El Mohamady are good for family or friends gatherings. There are two main grills, the Marakesh and the Andalous. We would recommend the Marakesh, including a mixture of grilled chicken, kabab, kofta and sojok in addition to Hawashi.

NOTE- The restaurant is usually crowded over the weekends and you might wait for some time until you get seated. Also, it may be a little bit noisy indoors, so outdoors might be a better option.

? Per person: 500-800

? Outdoor seating: Yes

? Alcohol: No

? Accessibility friendly: Yes

The Invincible is a dystopian game with a killer storyline

We were not meant to explore every corner of the universe: Your name is Yasna. You are an astrobiologist waking up on a hostile planet by the name of Regis III, with no memory of how you ended up there. The Invincible (watch trailer, runtime: 1:16) lets you explore the landscapes of this uninhabited planet — decidedly barren, but more dangerous than it seems.

It takes place in an alternative, atompunk universe. Based on a 1964 novel of the same name, what was meant to be a scientific journey quickly becomes a mission for survival. Every decision you make impacts the storyline, so make sure where you place your next step. You start by walking around, but pretty soon you’ll wish you were running.

Critics are lukewarm on the game, but players have praised its unraveling, twisting and winding narrative. The story is its strong suit, but the gameplay is nothing new — that’s not necessarily a bad thing. Perhaps flashy gadgets and complicated combos would’ve taken attention away from the plot: And trust us, you want every bit of your attention on it.

A few things to consider: A retrofuturistic universe means more often than not that the technology available in the game is outdated at best and primitive at worst. If you’re betting on your tools to save the day, we’ve got bad news. You’ll need to keep your wits about you playing this game, as you task yourself with finding the missing crew of your spaceship.

While the game is more affordable than most, its short runtime and lack of replay value may deter some players from purchasing it. But if you love sci-fi literature, existential philosophy, and high stakes missions, The Invincible will keep you entertained.

⌛ Hours of gameplay: 8 hours

? Price: USD 29.99

? Platforms: Xbox Series X and Series X, Playstation, and Steam and Epic Games for PC.

THE ENTERPRISE ENTERTAINMENT CALENDAR

DECEMBER

1 December (Friday): Cairo Fun Festival by Bike Zone Egypt in Heliopolis.

1 December (Friday): The Christmas Charity Bazaar, All Saints’ Cathedral, Zamalek.

1 December (Friday): Skhoon band concert, Pyramids, Giza.

2 December (Saturday): Wael Al Fashni concert, El Sawy Culturewheel, Zamalek.

2-26 December (Saturday-Tuesday): Ali Badrakhan’s cinema, Zawya Cinema, Downtown.

9 December (Saturday): Ashraf El-Ashmawi book signing event, Bibliothek Egypt, Arkan Plaza, Sheikh Zayed.

11-12 December (Monday- Tuesday): Omar Khairat’s concerts, Cairo Opera House, Zamalek.

14-21 December: Gouna Film Festival (GFF), Gouna.

23 December (Saturday): The Cairo Symphony Orchestra’s concert, Cairo Opera House, Zamalek.

25 December (Monday): Disney Classics concert, Cairo Opera House, Zamalek.

26-30 December (Tuesday-Saturday): NutCracker shows, Cairo Opera House, Zamalek.

31 December (Sunday): The Cairo Symphony Orchestra New Year’s Eve concert, Cairo Opera House, Zamalek.

EVENTS WITH NO SET DATE

2023: The inauguration of the Grand Egyptian Museum.

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

2024

JANUARY

7 January (Sunday): Coptic Christmas.

25 January (Thursday): Revolution Day.

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.

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