Skip the sweets

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THE WEEK IN REVIEW

Egypt’s inflation hits lowest level in nearly 3 years

Good morning, friends, and welcome to the weekend. We hope this warm Friday treats you well.

We’re halfway through Ramadan, which means it’s time to tackle a small but significant aspect of our gatherings: excess desserts. We’ve all contributed to overwhelming hosts with platters of the latest konafa creations, but the gift you bring doesn’t have to be coated in syrup or dusted with powdered sugar. This week’s guide lists thoughtful gifting alternatives your host can enjoy long after iftar is over.

LAST WEEK IN 3 MINS-

ECONOMY-

#1- Annual headline urban inflation plunged to 12.8% in February, marking an 11.2 percentage point drop from the 24.0% recorded in January. The figure marked the nation’s lowest inflation reading since March 2022 when inflation recorded 10.49%. On a monthly basis, inflation fell by 0.1 percentage points to 1.4%.

#2- IMF greenlit our fourth review: The IMF completed its fourth review of Egypt’s USD 8 bn loan program, unlocking a USD 1.2 bn tranche. The IMF also approved the disbursal of USD 1.3 bn in climate funds under the Resilience and Sustainability Facility, with the financing set to be disbursed in tranches rather than as a lump sum.

MANUFACTURING-

Elsewedy Electric to build a USD 500 mn subsea cable factory: Elsewedy Electric will build a USD 500 mn subsea cable factory in the newly announced zone in Dameitta Port. The factory is expected to be the first of its kind in the region and only the sixth in the world, and is set to span 500k sqm and include a 180 meter cable manufacturing tower. All of the factory’s production will be earmarked for export.

M&A-

#1- Talabat fully acquired Instashop for USD 32 mn: DFM-listed Talabat acquired 100% of Dubai-based on-demand online grocery delivery platform Instashop in a USD 32 mn related-party transaction with its Berlin-based parent company and majority shareholder Delivery Hero as part of a restructuring push. Instashop will continue to operate as an independent brand, under Talabat’s grocery and retail vertical.

#2- Al Organi Group’s ODI acquired a 26.25% stake in Misr National Steel (Ataqa) in a EGP 1.9 bn transaction. The acquisition, subject to regulatory approvals and due diligence, valued Ataqa at EGP 7.2 bn.

IPO WATCH-

Bonyan will be on the road after Eid to market its upcoming IPO to local institutional investors, before expanding to Gulf buyers in Saudi Arabia, the UAE and Oman. The Financial Regulatory Authority is currently reviewing the offering’s documents. Bonyan will be the first real estate operating company (REOC) to hit the EGX.

ENERGY-

#1- New LNG pricing and payment conditions: The gov’t reportedly sent global LNG suppliers new pricing and payment conditions for securing direct contract offers for the 155-160 shipments of LNG the country plans to import in 2025. The conditions include capping the price of LNG at USD 14 per mn British thermal units (BTU); a one-year grace period before receiving payments, plus a USD 2 per mn BTU surcharge as a premium for the deferred payments; and no Russian LNG imports.

#2- Shell and its partners exited their two Egyptian Red Sea exploration blocks, Red Sea 3 and Red Sea 4. Only Red Sea Block 1 — operated by Chevron, Woodside, and Tharwa — remains active in the area.

SPORTS–

Egypt’s spending on international transfers was dwarfed by Saudi in 2024: Egypt’s total spending on international transfers registered just USD 7.4 mn in 2024, coming in fourth place regionally as Saudi Arabia lead the region with USD 465 mn. Local spending on international players was down 22.1% y-o-y over the 12-month period.

AROUND THE WORLD IN SEVEN DAYS-

It was another busy week in the int’l presses, with US President Donald Trump’s policy moves continuing to top global headlines.

Trump’s tariffs rattled US markets: Markets took a hit this week as US President Donald Trump’s new tariffs came into effect, with business leaders expressing increasing concern about the US president’s economic policies. The tariffs triggered a market selloff, with the S&P 500 sliding 2.7% Monday and tech stocks registering their worst losses since 2022.

Trump also threatened to introduce additional tariffs on EU imports after the bloc responded to his 25% tariff on steel and aluminum, saying it would increase tariffs on USD 28 bn worth of US goods starting April.

But he did back down on one of his tariff plans, scrapping a 50% hike on Canadian steel and aluminum just hours after its announcement following assurances that Canada would not go through with a planned 25% surcharge on electricity exports to the US. Both Canada and the EU announced retaliatory tariffs, however, targeting some CAD 29.8 bn (USD 20.7 bn) and EUR 26 bn worth of American goods respectively.

And speaking of Canada- Former central banker Mark Carney was chosen by the country’s Liberal Party to succeed Justin Trudeau as party leader ahead of the country’s general elections slated for this year.

US and Ukrainian officials met in Saudi Arabia this week to hash out Ukrainian concessions as part of the US’ bid to end the Russia-Ukraine war. Trump agreed to resume military aid to Ukraine after Kyiv accepted the US-backed 30-day ceasefire proposal, with the plan yet to get the Russian side’s greenlight.

Israel-Gaza ceasefire talks were also back in focus this week, as Israeli representatives met with US officials in Qatar and Hamas representatives held discussions in Cairo. Hamas signaled progress toward the second phase of the ceasefire, while a US envoy suggested an agreement could be reached within weeks. Meanwhile, Israel continued to block aid and cut electricity to Gaza in a cynical bid to pressure Hamas into accepting changes to the truce’s terms.

Arab foreign ministers chimed in: Foreign Minister Badr Abdelatty joined his counterparts from Saudi Arabia, Jordan, UAE, and Qatar, and the US Special Envoy to the Middle East Steve Witkoff in Doha to discuss Egypt’s USD 53 bn Gaza reconstruction plan.

And over in Syria, fragile governing arrangements in the country saw a major setback after more than 1k people were killed in two days of clashes between forces loyal to the interim Syrian government and Assad loyalists in Latakia. The clashes, which reportedly included retributive killings of members of Assad’s Alawi sect by government-aligned forces, was followed by news that the interim government had signed an agreement with US-backed Syrian Democratic Forces to bring the latter under the nascent state’s umbrella.

☀️ THE WEATHER THIS WEEKEND-

Temperatures in the capital are giving us a taste of the upcoming spring, with highs of 32°C today and Saturday. The mercury will be dropping to 16°C tonight and 17°C on Saturday.

HAPPENING THIS WEEKEND-

Unwind under the Ramadan night sky with a brush in one hand and a paddle in the other. The special Ramadan edition of Pottery Painting & Kayaking is happening today and Thursday, 20 March, at 9pm at Mountain View Hyde Park. Book your spot through their page on Instagram.

Hakim at Hekaytna Helwa. The musical icon is one of many artists set to be featured at Hekaytna Helwa Ramadan tent’s shows this year, with Hakim’s concert set to take place tonight at 10pm. Get your tickets from Ticketsmarche.

Don’t miss out on the third edition of CSA and ALKEMIA Boutique’s annual Fenoun Festivities, happening today at CSA Maadi, in collaboration with Cairo Jazz Club. Join in celebrating Ramadan and diverse Egyptian talent, from art to food to whirling dervishes, all to the tune of Casino Badi3a ’s folklore music and Shereen Abdo’s serenades.

Hekaytna Helwa will also see a performance from Hamid El Shaeri and Hisham Abbas, with the two set to perform as part of the Suhour shows at Hekaytna Helwa Ramadan tent today. Tickets are available on Ticketsmarche.

Join in for some laughs with the GOATs of comedy. Comedians Marwan Fares, Mohamed Moula, Marwan El Moslemany, and Mohamed Halim are bringing their interactive comedy show to east Cairo for the first time. The show will take place at Kamelizer tonight at 9pm. Tickets are available on Ticketsmarche.

Eshtry Menny EXP returns with Ba’ad Shoo’a — a comedy podcast presented in a live show. Hosts Badr Nour, Abdelrahman Mohamed, and Gamal Ramzy, will be joined by a distinguished guest star: Ashraf Abdel Baky. The show will start at 9pm tonight at the Rihany Theater in Downtown. Grab your tickets from Ticketsmarche.

The guide to better gifts for your Ramadan visits

We’ve all seen Ramadan tables groaning under the weight of yet another box of basbousa brought by a guest. Most hosts end up with mountains of leftover desserts that they can’t possibly finish, and it all goes to waste. So why not bring something your host will actually appreciate this Ramadan? Here are some thoughtful alternatives they can enjoy long after iftar is over.

FOR THE STYLE-CONSCIOUS

Do you know someone whose home looks like an Instagram feed come to life? Instead of something that will disappear by suhoor, get them something they can display for the next year while telling everyone, “Oh, this? My friend has such good taste.”

#1- MARAMZY: This Egyptian home decor brand brings artistry into everyday living with handcrafted home decor that represents Egyptian tradition, craftsmanship, and contemporary design. From frames to sculptures to wall art, the only obstacle you’ll face picking a gift is staying on task.

THE PRICE TAG: A simple marble candleholder is priced at EGP 250, you can find a handpainted fengan clay set for EGP 315, or you can deck out their home with the Mastaba corner table for EGP 8.5k.

WHERE TO GET IT: You can place your order through their website.

#2- URBAN RUGS: Indulge in the Ramadan spirit through Islamic-inspired products that blend spirituality and tradition with modern design, from padded prayer mats to home decor items and personal accessories. For a personal touch, consider their dedicated Ramadan gift boxes, which come in 14 different styles. Each box contains a prayer mat, a copy of the Holy Quran, prayer beads, and a variety of other items depending on the theme of the box.

THE PRICE TAG: Their gift boxes range from EGP 795 to EGP 1.8k. You can also find single items like a cashmere portable prayer mat for EGP 320, a tote bag for EGP 240, and prayer wear priced at EGP1k.

WHERE TO GET IT: You can find these gifts on their website.

#3- STAMPED BY KANGAROO: This design studio creates artful homeware where the brand draws inspiration from Cairo’s street kitsch, using bold patterns, colors, and textures, perfect for the offbeat friend with distinct taste. They also have a commitment to authenticity and sustainability where they use repurposed overlooked materials.

THE PRICE TAG: Their products range from EGP 350 for a fresh take on zeenit Ramadan, and can go up to EGP 4.5K for a ruched tablecloth.

WHERE TO GET IT: You can shop their products on their website.

FOR THE ENTERTAINER

These gifts are for the friends who love to host long Ramadan gatherings from iftar to suhoor. Their fridge is already stuffed with half-eaten desserts, and the last thing they need is another tray of sweets.

#1- GAME GURU: Get everyone from grandpa to the youngest cousin involved with classic games like tawla, Jenga, and Connect Four, and dominoes. It’s definitely better than watching everyone stare at their phones all night. If you’re feeling especially festive, check out Game Guru ’s acrylic Ramadan edition sets.

THE PRICE TAG: These numbers may run higher than your average koshk-bought playing cards. An aesthetically pleasing tawla board will set you back EGP 4.1k, and your grandpa’s new favorite chess box will cost you EGP 9k.

WHERE TO GET IT: You can stock up from their website.

#2- GATHERING: Why spend hours in the kitchen when a phone call can get you an Instagram-worthy tray of sandwiches, cheese assortments, or finger foods? You can customize mini sandwiches not just by their fillings — of which there are 12 options — but also by the kind of bread you want used. Gathering offers croissants, pretzel buns, focaccia bread, pètit pain, logan bread, brown bread, and baladi bread. Not finger-foody enough for you? Try their canapés.

THE PRICE TAG: The most basic option for a box of mini sandwiches will run you back EGP 280, and their most lavish offering is a cheese platter that feeds six people, priced at EGP 2.4k.

WHERE TO GET IT: Their menu can be found on Instagram, and you can place your order by calling the number on their social media, or message them on WhatsApp.

FOR THE SOPHISTICATED PALATE

Some hosts appreciate the finer things in life — they notice quality ingredients and thoughtful presentation. These premium date selections elevate a Ramadan staple into something truly special, and yes, we know they’re still sweet (it is Ramadan after all), but at least they don’t have to share (or shove them into the fridge to die a slow death before eventually getting tossed out).

#1- BENNU DATES: From jumbo to mini Medjools, to caramel-sweet Barhi, Bennu offers a variety of premium-quality dates. Their Belgian chocolate-covered assortment has five flavors of Medjool — milk chocolate with Nutella filling, dark chocolate filled with crunchy almond and a sprinkling of sea salt, milk chocolate with konafa pistachio, milk chocolate with an aromatic coffee center, and dark chocolate with coconut creme and a light coating of macerated coconut.

THE PRICE TAG: A Grab n Go box of three Medjool dates is priced at EGP 25, but the assorted Belgian chocolate-covered box will set you back EGP 800.

WHERE TO GET IT:You can place an order through their website.

#2- JANA DATES: Medjool, Sukkari, Sagai, Deglit Noor, Ajwat El Madina, Mabroum, Khedri… Jana Dates knows how to cater to every preference. Don’t know your host’s favorite kind? You can’t go wrong with anything stuffed with nuts and covered in chocolate. Not their style? You can pick them up a jar of artisan honey.

THE PRICE TAG: A 190g box of Medjool dates with nuts totals EGP 250, but a generous 3kg of Ajwat El Medina is priced at EGP 2.2k. Regular clover honey will cost you EGP 145 for a 450g jar, but 500g of nature flower honey — made from wildflower nectar — will set you back EGP 545.

WHERE TO GET IT:You can find all their products on their website, but a selection is available on Instashop or Breadfast.

Redefining leadership

📚 A refreshing perspective on leadership, success, and power. In Good Company, Arthur Blank — co-founder of The Home Depot and owner of the Atlanta Falcons — draws on his firsthand experience to redefine what it means to run a business with heart.

At its core, the book is about prioritizing people — whether employees, customers, or the community. Blank believes that when businesses focus on their impact rather than just their bottom line, success naturally follows. His advice doesn’t come across as a lecture; instead, he frames his insights like a conversation, making the book feel down-to-earth and engaging.

One of the central themes in the book is sticking to your values, no matter the industry. Blank believes that companies should be about more than just making money. He explores the concept of conscious capitalism, emphasizing that businesses should measure their success not only by profits but also by their impact on society.

Blank isn’t just talking the talk — he’s also using his influence to make meaningful changes. When he bought the Atlanta Falcons, he made season tickets affordable so that all fans could enjoy the game. At the team’s Mercedes-Benz Stadium, he ensured that minority-owned businesses had fair opportunities for contracts. And at The Home Depot, he instilled a culture where employees see themselves as leaders, believing that strong businesses are built on respect, inclusion, and community engagement.

You can find it at Diwan.

A sweet take on the Egyptian Kabbab Halla

🍴 BEEF STEW WITH PRUNE SAUCE:

INGREDIENTS:

3 tbsp butter
½ kg of beef, cubed
½ onion
Salt and pepper to taste
½ tsp garlic
1 cup chopped mushrooms
¼ kg prunes
1 cup cooking cream

RECIPE:

In a large skillet, melt the butter over medium heat. Add the beef cubes onto it and stir until the meat is lightly browned on all sides.
Add the chopped onions to the pan and sautee for 2-3 minutes until they become translucent.
Stir in the salt, pepper, and minced garlic and stir for another minute.
Add the sliced fresh mushrooms and stir until they brown and soften.
Stir in the prunes and cook for another 2-3 minutes, allowing them to soften and release their sweetness.
Pour in the heavy cream, stirring to combine. Then cover the pan and bring to a boil. Reduce the heat until the sauce thickens and the meat is cooked through.

PRO TIP: This dish is quite flavorful and best served with white rice to avoid any clashing flavors.

Are you ready to ruuuumble?

🎮 Forget strategy, captivating CGI landscapes, and a Pulitzer-tier plot — sometimes all you need is some good old fashioned KOs. WWE 2K25 is keeping the comeback story of the annual franchise going strong since the rough days of WWE 2k20. This year’s entry brings plenty of improvements to the ring while adding some fun new modes and match types, even if not everything lands a perfect five-star frog splash.

The ring is where the magic happens. WWE 2K25’s gameplay truly shines with the return of chain wrestling, which adds some technical depth for the purists who don’t just want to smash buttons. The new Giant archetype gives bigger wrestlers a headstart with a special energy shield that makes them temporarily unstoppable until opponents wear them down. But one of the biggest crowdpleasers has to be the intergender matches, which lets you answer questions like who would win in a match between Rhea Ripley and Dominik Mysterio.

Add new match types to the lineup. Bloodline Rules matches start as simple one-on-ones but can escalate to intense 4v4 brawls. Underground matches bring a gritty MMA feel, with ropeless rings surrounded by fans close enough to bang on the apron. You can now dive off the barricades again, and the expanded backstage areas let you leap from ambulances or toss opponents through shelves in the WWE Archives, which is packed with nostalgic props and memorabilia, like Stone Cold Steve Austin’s monster truck or the Smackdown’s Ruthless Aggression-era fist.

Game modes offer something for everyone: The Showcase mode is one of this edition’s highlights, taking players through the fascinating history of the Bloodline dynasty. The legendary Paul Heyman is the perfect host, delivering passionate introductions to each chapter that trace the legacy from the Wild Samoans, all the way to Roman Reigns. Full commentary makes matches much more engaging than last year’s silent affairs.

MyRise mode has gotten a fun overhaul with a story that lets you play either as a male or female wrestler caught in the middle of a rebellious NXT takeover of WWE. It’s an entertaining campaign with genuinely funny moments that plays with the real-world concerns about how NXT stars often struggle when called up to the main roster.

MyGM continues to be the fan favorite, and the good news is it now supports online play. You can enjoy go-home shows, trading periods, and special bonuses after big events. Universe mode has gotten some quality-of-life improvements too, with cleaner menus and the welcome return of promos on match cards.

The real heel turn: WWE fans have seen John Cena make a surprise entry into his villain era, but that pales in comparison to the addition of microtransactions to this year’s newest game mode. The Island is the newest addition to WWE, essentially an open world area where your created wrestler tries to earn a contract. Other than the execution feeling rough around the edges, it leans heavily into microtransactions, letting players spend real money on virtual currency to boost their character’s stats or buy cosmetics from branded shops like Nike. While it’s entirely optional, it does feel a bit out of place in a game you’ve already paid full (and hefty) price for.

But WWE 2K25 delivers where it counts most. The excellent gameplay, massive roster — from Cody Rhodes to Andre the Giant —, and improved single-player modes give wrestling fans tons to enjoy. Whether you’re a die-hard WWE fanatic or a casual player looking to suplex your friends, WWE 2K25 delivers an entertaining package that continues the positive trajectory of the series.

💯 Rating: 9/10 critic rating

⌛ Hours of gameplay: N/A

🔁 Replay value: 10/10

👾 Platforms: Steam for PC, Playstation, Xbox

💵 Price: USD 69.99 for the standard edition, USD 99.99 for the Deadman edition, and USD 129.99 for the Bloodline edition

Historical Records offers history with a beat drop

👂 If you’ve ever wished history lessons came with a beat drop, Historical Records is here to spin some tunes for you. This show brings hip-hop and history together, with host Nimene and her lively crew of historians bringing unsung figures to life through music, humor, and storytelling.

The concept is fresh and exciting: The podcast takes key moments and figures from the past and transforms them into catchy, educational hip-hop tracks. This approach makes the content not only entertaining but also highly memorable, helping kids — and even adults — retain historical facts in a fun and engaging way.

Wanna hear what — or who’s — been playing? In Just the Songs: Keith Haring and Willi Smith, Nimene revisits these two storied artists from the 1980s New York scene. The episode does more than just tell their stories — it invites listeners to experience history interactively. Listeners are encouraged to draw while learning about Keith Haring’s creative process and imagine designing clothes inspired by Willi Smith’s fashion legacy. The musical elements in this episode also pay tribute to the Beastie Boys, another NYC cultural icon from that era, adding an extra layer of authenticity and nostalgia for older listeners.

This show’s for everyone: Whether you’re looking for an engaging educational resource or simply a fan of hip-hop and history, this podcast delivers on all fronts. It’s a show that proves learning doesn’t have to be boring — and that will help you upgrade your hip-hop playlist.

WHERE TO LISTEN- You can listen to this podcast on iHeart Podcasts, Apple Podcasts, Spotify, Podtail, Story Pirates, and Play Podcast.

THE ENTERPRISE ENTERTAINMENT CALENDAR

MARCH

14 March (Friday): Hamid Al Shaeri and Hisham Abbas concert at Hekaytna Helwa Tent, New Cairo.

14 March (Friday): The Goats stand up comedy at Kamelizer Spaces, District 5.

14 March (Friday): Omar El Gamal stand-up comedy at Theatro Arkan.

14 March (Friday): CSA and ALKEMIA Boutique’s annual Fenoun Festivities at CSA, Maadi.

14 March (Friday): Eshtry Menny EXP Ba’ad Shoo’a at the Rihany Theatre.

16 March (Sunday): Sheikh Yassin Eltohamy at the Cairo Opera House.

17 March (Monday): Sara Moullablad live at Boom Room.

17 March (Monday): Iftour in Mounira & Garden City with Qahraweya.

19-20 March (Wednesday-Thursday): Sayed Ragad’s Evening of Storytelling and Drama at Theatro Arkan.

19 March (Wednesday): Cassette 90 Band live at Boom Room.

21 March (Friday): Mother’s Day.

21 March (Friday): Saad El Oud at Majarrah.

21 March (Friday): Tablet El Sitt at Theatro Arkan.

21 March (Friday): Medhat Saleh at the Cairo Opera House.

24 March (Monday): Mazeek live at Boom Room.

APRIL

1 April (Tuesday): Annual Flower Exhibition at the Agricultural Museum.

2 April (Wednesday): Cairokee at CUBIX, El Gouna.

12 April (Saturday): She Can event at Creativa Innovation Hub, Giza.

25 April (Friday): Tamer Ashour concert at ZED Park, Sheikh Zayed.

MAY

3 May (Saturday): Enrique Eglesias at the Rixos Radamis in Sharm El Sheikh.

21-31 May (Wednesday-Saturday): Disney On Ice at Cairo International Stadium.

30 May (Friday): Adam Port at the New Administrative Capital’s Green River.

OCTOBER

16-24 October (Thursday-Friday): Gouna Film Festival.

30 October – 22 November (Thursday-Saturday): Forever is Now at the Great Pyramids of Giza.

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Today at a glance

Egypt’s inflation hits lowest level in nearly 3 years

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The guide to better gifts for your Ramadan visits

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Redefining leadership

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This publication is proudly sponsored by

A sweet take on the Egyptian Kabbab Halla

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Are you ready to ruuuumble?

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Historical Records offers history with a beat drop

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THE ENTERPRISE ENTERTAINMENT CALENDAR

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Privacy & Support

Get EnterpriseAM daily

Skip the sweets

An independent publication supported by

Today at a glance

Egypt’s inflation hits lowest level in nearly 3 years

Get Enterprise daily

Related

Related

The guide to better gifts for your Ramadan visits

Related

Related

Redefining leadership

Related

This publication is proudly sponsored by

A sweet take on the Egyptian Kabbab Halla

Related

Are you ready to ruuuumble?

Related

Historical Records offers history with a beat drop

Related

THE ENTERPRISE ENTERTAINMENT CALENDAR

Related

An independent publication supported by

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