What’s up in Sahel

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THE WEEK IN REVIEW

Egypt’s inflation retreats to lowest level in 16 months

Good morning everyone, and happy Eid. We are more excited than usual at the prospect of a longer holiday to come. We are certain you’ve been planning for this week for a while.

But now that you’re arrived at Sahel — what do you intend to do? When you’re done with the usual routine of beaching and unwinding pick up one of our several activities and destinations across the North Coast for you to discover and experience.

Enterprise Weekend comes out each Friday at 9:00am CLT. Enterprise publications will be off all of next week in observance of Eid Al Adha.

LAST WEEK IN 3 MINS-

ECONOMY-

#1- Inflation falls to lowest level in over a year: Annual urban inflation cooled to 28.1% in May, down from 32.5% in April on the back of considerably slower food price increases, as traders continued to price in a lower exchange rate following the float of the EGP. This is the lowest inflation figure recorded since January 2023.

Monthly inflation was in the negative for the first time in nearly two years: On a monthly basis, inflation fell on all items for the first time since June 2022, with prices falling 0.7% m-o-m. This is the biggest drop inflation has seen m-o-m since June 2019.

#2- Egypt to get a fresh USD 820 tranche from the IMF: The International Monetary Fund reached a staff-level agreement with Egypt on the third review of its expanded USD 8 bn loan program, which is set to unlock USD 820 mn after the Fund’s executive board gives the go-ahead “in the coming weeks.”

#3- World Bank holds Egypt’s growth outlook steady: The international lender sees the Egyptian economy growing at a 2.8% clip during the fiscal year 2023-2024, keeping its outlook unchanged from its April forecast.

CAPITAL MARKETS-

EGX launches its maiden shariah-compliant index: The EGX launched Egypt’s maiden shariah-compliant index after getting the approval from the Financial Regulatory Authority's main shariah supervisory committee, in collaboration with Standard & Poor’s.

ENERGY-

A floating regasification unit will dock in Egypt next week: Ain Sokhna will receive the floating LNG regasification unit that the government will lease from Norway’s Höegh LNG in mid-June as it gears up to welcome LNG shipments to help meet local demand. The government is leasing the unit until February 2026 for USD 90 mn a year, according to unconfirmed media reports.

M&A-

SFE acquires 20% of Care Pharmacies: The Sovereign Fund of Egypt (SFE) acquired a 20% stake in the local pharma chain Care Pharmacies for EGP 75 mn via its healthcare sub-fund. The acquisition — which comes under the SFE’s partnership with B Investments and El Ezaby — is set to be finalized in the coming weeks.

The transaction will see the SFE take control of 45 branches out of the 220 run by Care Pharmacies, one of the sources said.

AROUND THE WORLD IN SEVEN DAYS-

The global press was focused on the latest ceasefire efforts, with leaders, including our own Abdel Fattah El Sisi, gathering in Jordan for the international conference on Gaza. During the conference, El Sisi also emphasized “the immediate, comprehensive, and sustainable cessation of hostilities in Gaza, the immediate release of all hostages and detainees, and the provision of necessary conditions for the immediate return of displaced Palestinians in the sector to their homes from which they were forced to flee due to the Israeli war.”

On the same wavelength: El Sisi met with US Secretary of State Antony Blinken on Monday to discuss ongoing efforts to secure a ceasefire in Gaza, the release of hostages, and Egypt’s initiatives to deliver humanitarian aid. Blinken blamed Hamas for delaying the ceasefire, stating that it is the only party that has not yet agreed to Biden's proposal.

The global press’ attention was also focused on the ongoing courtroom drama that is US politics, with news that US President Joe Biden’s son Hunter was convicted for obtaining a gun by lying about his drug use dominating the front pages in the states and beyond. Some think this could be a help and not a hindrance to the Biden campaign.

AND IN TECH NEWS- Apple launched its AI venture — dubbed Apple Intelligence — in its latest shot at establishing itself as an AI player to be reckoned with, in partnership with none other than OpenAI. Apple boss Tim Cook said the “next big step” will see the iPhone and Macbook maker integrate ChatGPT on its devices and reintroduce Siri as the virtual assistant it was originally promised to be.

☀️ THE HOLIDAY WEATHER- Expect a scorching weekend, with highs reaching 42-43°C in Cairo and 35-36°C in Alexandria and Sahel, before cooling throughout the week, according to our favorite weather app.

HAPPENING ON HOLIDAY-

If you’re more inclined to fusing Arab and Western tunes make your way to CJC 610. LA-based DJ/Producer Habibeats and Bubblegum Kollectiv will be playing all the mixed modern tunes tonight at CJC 610. For reservations message their Facebook page.

Ahmed Helmy returns to the stage with his play Memo at Grand Nile Tower Hotel in Cairo, after the success of the show in Saudi Arabia. The show will be on Sunday 16 June at 9pm. Get your tickets here.

In celebration of Eid Al Adha, Tamer Hosny will hold a concert at Zed East in New Cairo, on Monday, 17 June. The show starts at 8:30pm. (tickets)

The violin and piano duo Fouad and Mounib are set to perform at the Roman Theatre in Sharm El Sheikh for the first time — on Tuesday, 18 June at 10pm. Get your tickets here.

What’s up, Sahel?

How’s Sahel this year? While the core routine remains more-or-less the same every year, we’re always on the hunt for new locations and the latest things to do in our favorite summer getaway destination.

WHERE TO GO-

#1-PAO: For all of you boba enthusiasts you’ll be thrilled to hear that PAO is coming back to Sahel with not two, but six new locations across the coast: La Vista Bay, Telal, Hacienda Red, Seashell, Marassi, and Northed.

#2-SACHI: This fine dining gem has recently revealed its new location at Marassi Marina. Situated right in the marina’s waters and architecturally inspired by a sailboat, this place is ready to become the new go-to destination for both Sahel breakfast mornings and dinner nights.

#3- PICKL: Dubai's famed burger joint has signed a franchise contract to open three branches across the North Coast this summer. Find the branches at Seashell, Hacienda White, and Al Alamein’s North Square Mall.

#4- 3DOTS: Saudi-based coffee shop has set roots at Offshell North Coast in front of Seashell’s gates this summer.

#5- SAYED HANAFY: Not one for burgers or smoothies, now you can have our national staple right by the beach. Koshary giant Sayed Hanafy has opened a new branch at Seashell Walk.

#6- IZAKAYA: This Japanese-Peruvian restaurant is expanding its branch to the shores of the North Coast this summer at Marassi.

HONORABLE MENTIONS:

Don’t miss out on the luscious eats and vibes at some of these quintessential Sahel venues: Babbo’s Taverna at Sidi Heneish Village, Barbar at Marassi The Hub and Granita Sur Mer at Diplo.

BROUGHT YOUR FURRY FRIEND?

Not all beaches in Sahel are pet-friendly. Head to Hacienda Red, Seashell, Telal, Marassi (North Beach), La Vista Cascada, or Fouka Bay to make sure your dog will be allowed to enter.

DISCLAIMER: There may be more locations that permit pet entry, but make sure to ask around to avoid wasting the drive.

WORK ON FORMET EL SAHEL-

Holidays are not an excuse to abandon your fitness goals. Stay in tip top shape — or strive to be — with some of Egypt’s finest fitness groups working out by the sea.

#1-BEFIT 360: Find out more about their packages here.

LOCATION: Marassi, Swanlake, and Playa.

#2-MOVE: Fill up this form to get their summer packages.

LOCATION: Cali Coast, Beit al Bahr, and Telal.

#3- LA7: Check out their classes here.

LOCATION: The Med and Seashell G Hotel.

#4- AQUA FIT: A high-intensity workout where the core of it is being able to balance on a board while working out.

LOCATION: Telal, Hacienda White, Address Resort Hotel, Fouka Bay, La Vista Bay, La Vista Cascada.

#5- STAMINA: Aside from the usual grind, they collaborated with Swim Master for those who want to exercise in a pool.

LOCATION: Diplo.

#6- SURF CAMP: Make the sea your playground and the waves your challenge. Whether you're a beginner or looking to refine your skills, these camps offer expert instruction in paddling, catching waves, and mastering the surfboard.

LOCATION: Hacienda Red and Hacienda White.

#7- JPADEL: They are branching across the North Coast bringing the trendy sport to the seaside.

LOCATION: Al Alamein, La Vista Bay, Swanlake, Hacienda Red, and Masyaf.

NEED SOME GROOMING?

#1- AL SAGHEER SALON: A household-name salon that caters to both men and women.

LOCATION: Marina 2, Marassi (Mporium), Marassi (Marina), Almaza Bay, Hacienda White, Telal, Address Marassi, Sidi Heneish Village, Swanlake, Casa Cook Hotel, and Alamein North Square.

#2-AHMED & ABDOU: A household-name salon that caters to both men and women.

LOCATION: Al Alamein Hotel Marassi, Porto Marina, Ocean Blue Marina, and Stella Walk.

#3- BRUSH: This salon caters to both men and women.

LOCATION: Amwaj.

#4- BEKKY BARBER: This barbershop is for men only.

LOCATION: Seashell Walk.

#5- MOHAMED & RAMY: This barbershop is for men only.

LOCATION: In front of Marina 5 gate.

#6- ALFRED & MINA: This is another hair salon for women only.

LOCATION: Marina 5

HOW TO GET THERE-

Want to avoid the drive? Now you can fly from Cairo to the North Coast with EgyptAir, effective from Thursday, 11 July until Saturday, 14 September. Just book your seat with EgyptAir by choosing Al Alamein (DBB).

You can also keep it OG and travel with SWVL: They offer minibus rides from different areas in Cairo depending on your location and to most of the compounds in Sahel. Get the details through their website.

GOBUS is another option for buses and you can get the schedule and information from their website.

Feeling fancy? Try GOLIMO: This option is ideal if you’d prefer a private car that will pick you up and drop you off at your exact location of choice. Their vehicles range from the basic (a Toyota) and the luxury (Mercedes S-class). Get a hold of one of their cars through their website.

The Bad Boys are back, and they’re bigger and better and coming for you

? AT THE MOVIES-

The Bad Boys are back with the fourth sequel to the franchise Ride or Die. The legendary Miami detectives are back to solve the latest case and this time it’s dusting out hidden boxes of the past. The film picks up four years after the events of the previous installment, with Detectives Mike Lowrey and Marcus Burnett facing new personal and professional challenges.

Captain Howard plays a big part — albeit posthumously. Mike and Marcus are blindsided by a police conference about their friend Captain Howard (Joe Pantoliano) who is framed posthumously in a cartel’s money laundering scheme by corrupt officials and the brooding mercenary James McGrath (Eric Dane). Lowrey and Burnett are determined to clear Howard’s name, turning the film into a prison-break movie involving Lowrey’s incarcerated son, Armando (Jacob Scipio).

Their investigation leads them deep into a web of corruption within the police department, with clues pointing to old criminal connections and a new, formidable adversary. Along the way, they encounter obstacles, including a squad of assassins and relentless law enforcement, turning their quest for justice into a high-stakes race against time. Along the way, there are nods to fan favorites, a star-studded roster of cameos featuring Tiffany Haddish, Vanessa Hudgens, Dj Khaled, Miami gangsters hunting the wanted duo, and an albino alligator that, well, does not need any further explanations.

This is a summer picture you don’t want to miss out on. Smith and Lawrence’s on-screen chemistry is fun to watch and it is filled with both laughs and action as the two combat crime while bickering at each other. The CGI at the start of the film was not the best though. It took up four precious minutes and may have deterred audiences unfamiliar with the previous films, giving them the wrong impression about the latest installment.

BONUS: The coda reveals that there may be another installment coming soon. We say no more.

WHERE TO WATCH- You can watch the film at Arkan Cinema, Americana Cinema, Point 90 Cinema, Vox Cinema (Mall of Egypt), Vox Cinema (City Centre), Scene Cinema, Sea Cinema, City Stars Cinema, and more.

? FROM THE BOOKSTORE-

Unearthing ambitions with Gold Diggers, Sanjena Sathian’s debut novel ventures into the complexities of identity, ambition, a touch of magical realism, and the pursuit of success in post-9/11 America. Set in a fictional Atlanta suburb, the narrative follows Neil Narayan, a young man yearning to carve out his place in a world defined by academic excellence and cultural assimilation.

Neil’s journey unfolds against two backdrops: His Indian immigrant parents’ expectations and his longing for the attention of his high school crush, Anita Dayal. However, when he discovers Anita and her mother's secret alchemical potion made from stolen gold, Neil is thrust into a whirlwind of ambition and consequence.

Satire, magic, and mythology all blended to craft a tale that transcends mere storytelling. Through Neil and Anita’s quest for success fueled by the stolen ambitions of others, the novel delves into themes of cultural identity, the immigrant experience, and the pressure to excel in a society that often defines success in narrow terms.

The narrative shifts from adolescence to adulthood, from suburban Atlanta to Silicon Valley, Sathian maintains a captivating pace, keeping readers engaged with a rich tapestry of historical fiction and Bollywood-esque heists.

It’s a modern Indian-American novel, weaving together history, mythology, and contemporary issues with finesse. It’s not just a story — it’s a poignant reflection on the pursuit of ambition, the complexities of identity, and the eternal quest for belonging in a world constantly in flux.

You can find it at Cherry Blossom Books.

? HOT AND FRESH OUT OF THE KITCHEN-

Itaria brings Japanese and Italian cuisines under one roof. Situated in Square One, New Cairo, Itaria offers an extensive menu featuring classic Italian dishes alongside fresh, expertly crafted sushi rolls — making it an ideal dining spot for groups with varied tastes.

Dual menu. Itaria’s menu is divided into two distinct sections: Italian and Japanese, meaning you can start your meal with a traditional Italian antipasto and follow it up with a selection of sushi rolls or a hearty pasta dish.

We started with the Italian classics: The Seafood Pizza was an oven-baked Neopitan dough adorned with fresh mozzarella, tangy tomato sauce, and rocca topped with shrimp and calamari. The dough was ethereal but we could have had more toppings.

More Italian goodness. The Lemon Chicken Scallopini is a culinary marvel that truly delivers a burst of flavor with each bite. The chicken breasts had a slight crispiness on the outside while remaining tender and juicy inside, covered with a buttery lemon sauce that made it both refreshing and indulgent.

The Spicy Tuna roll hit the right spot. Given the amount of space we had left, we selected two sushi rolls: Salmon Truffle and Spicy Tuna. The Salmon Truffle had crab, cubed salmon with avocado, and topped with truffle paste. The taste was far from anything we’ve tried before — but it did tickle our taste buds. Finally, the Spicy Tuna included fried shrimp, crab, chili, tuna paste, and scallion drizzled in teriyaki sauce which added a sweet and savory glaze. Inside, the spicy tuna paste had a fiery kick to it that balanced the sweetness of the crab. The fried shrimp added another layer offering a satisfying crunch.

NOTE: The restaurant does serve walk-ins but it doesn't hurt to make a call to reserve. Give them a ring through their number or DM them on Instagram.

? Per person: 600-1200

? Outdoor seating: No

? Alcohol: Yes

? Accessibility friendly: No

F1 24 is just shy of pole position

F1 24 is a smooth ride, but it doesn’t quite make pole position. The latest entry in the Formula One racing game series is a solid installment with some high-octane action, but veteran gamers who bleed motor oil won’t be blown away. Whether you love him or love to hate him, Verstappen himself had some input to make the handling feel even more realistic this time around.

If it ain’t broke… Let’s be clear — the core gameplay is still fantastic. The handling is responsive, the visuals are stunning, and puts you right in the heart of the action. And while career mode has seen some tweaks for a more engaging and customized experience, in the grand scheme of things not much has changed.

Wait, have we seen this track before? Compared to the latest installments of the F1 games, F1 24 doesn’t really take any giant leaps forward. The core features haven’t seen any meaningful overhauls or innovations, and some competitive gamers may even find the handling changes less appealing for making the gears a little easier to maneuver.

But don’t hit the brakes just yet. If you’re a newcomer to the game or just missed the last few versions, F1 24 is a great jumping point into the racing scene. And veterans… You can really never get enough of the thrill of g-force kicks and the adrenaline of split-decision-making that the game offers.

? Rating: 6/10 on Steam, 68% audience rating.

⌛ Hours of gameplay: N/A.

? Replay value: 10/10.

? Platforms: Steam and Epic Games for PC, PlayStation, and Xbox.

? Price: USD 69.99 or USD 89.99 for the Champions Edition, with an available USD 19.99 DLC. A 5-hour trial is available at no charge on Steam and PS.

Dive into the deepest abyss of race relations in America

NPR explores the complexity of race, ethnicity, and culture in Code Switch. The podcast’s central theme revolves around how race impacts every facet of American society — from politics and education to pop culture and everyday interactions. Each episode delves into stories that highlight the often-overlooked or misunderstood aspects of racial dynamics in America and beyond. The topics are really timely and diverse, ranging from historical contexts of racial issues to current events, making the podcast both relevant and educational.

Hosted by a dynamic team of journalists of color, the podcast benefits from their insightful perspectives and journalistic rigor. The hosts bring their own experiences and backgrounds into the conversation, fostering a sense of authenticity and relatability. Their chemistry and engaging storytelling make the episodes compelling and accessible, even when tackling complex or sensitive subjects.

It has educational value, it doesn't just present problems. It also provides historical context, expert opinions, and actionable insights. The podcast often features guest experts from various fields, including academia, activism, and the arts, enriching the conversation with diverse viewpoints — such as Angela Saini, author of the new book Superior: The Return of Race Science, about how race isn’t real and how race science crept its way into the 21st century.

Its thoughtful content and engaging hosts make it a standout in the crowded podcast landscape. Whether you are a seasoned listener or new to discussions about race, the podcast offers invaluable insights that will leave you more informed and inspired to engage in meaningful conversations about these crucial issues.

WHERE TO LISTEN- You can listen to the podcast on NPR, Apple Podcasts, Spotify, Google Podcasts, Amazon Music.

THE ENTERPRISE ENTERTAINMENT CALENDAR

JUNE

15-20 June (Saturday-Thursday): Eid Al Adha holiday.

16 (Sunday): Ahmed Helmy’s Memo at Grand Nile Tower Hotel.

17 June (Monday): Tamer Hosny concert at Zed East.

23-24 June (Sunday-Monday): The Man Eaten By Papers at AUC’s Falaki Theater.

25 June (Tuesday): English Book Club discussion at Bibliothek.

26 June (Wednesday): Ali El Haggar concert at ElSawy Culturewheel.

27 June (Thursday): Cyberx Egypt Summit & Awards 2024 at Grand Nile Tower.

27-29 June (Thursday-Saturday): Fabrica's I Love You, You're Perfect, Now Change musical at Rawabet Art Space.

28 June (Friday): Mohamed Hamaki’s concert at the New Cairo Arena.

29 June (Saturday): Amr Diab x Adam Port concert at Sol Beach.

30 June (Sunday): June 30 Revolution Day (TBC).

30 June-15 August (Sunday-Thursday): Summer Day Camps at Gems International School.

JULY

7 July (Sunday): National holiday in observance of Islamic New Year (TBC).

16-17 July (Sunday-Monday): Cairo Consultants Forum 2024 at Royal Maxim Palace Kempinski.

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.

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

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Today at a glance

Egypt’s inflation retreats to lowest level in 16 months

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What’s up, Sahel?

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The Bad Boys are back, and they’re bigger and better and coming for you

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This publication is proudly sponsored by

F1 24 is just shy of pole position

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Dive into the deepest abyss of race relations in America

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