Latest news with #Metwally
Campaign ME
5 days ago
- Entertainment
- Campaign ME
IKEA showcases its ‘Everything Kitchen' with Memac Ogilvy, Bigfoot Films
To showcase its kitchen range, IKEA has partnered with Memac Ogilvy and Bigfoot Films to launch its latest campaign: An Everything Kitchen. Rolling out in the UAE, Oman and Qatar, the campaign aims to raise awareness of IKEA's kitchen solutions through gently encouraging consumers towards a kitchen revamp by recognising the significance of the room in every household. 'Our 'An Everything Kitchen' campaign celebrates the profound role the kitchen plays in our lives,' said Carla Klumpenaar, GM Marketing and Communications, IKEA UAE, Qatar, Egypt and Oman. Therefore, the creative brief mandated a campaign that tugged on the emotional heartstrings of consumers in the region, tapping into the insight that in every home, the kitchen holds more life than we give it credit for. 'Kitchen revamps are a key pillar of IKEA's business. However, redoing your entire kitchen is a decision never taken lightly,' said Moemen Metwally, Creative Director, Memac Ogilvy. 'The kitchen is a space that witnesses life's everyday moments, and reminds people of its emotional role in the home aimed to make the decision to renovate feel more meaningful,' Metwally said. View this post on Instagram A post shared by IKEA UAE (@ikeauae) More than 40 shots make up the campaign's minute-long film, each one capturing something your kitchen quietly witnesses. This includes the usual cooking and cleaning, but also equally usual: experimenting, debating, and sneaking around for midnight snacks. 'From the start, the tone was all about warmth – emotional, visual, and everything in between. A cozy voice-over pulled viewers in, while a DOP with a knack for heartfelt storytelling added layers of visual depth,' said Rania Salamé, Producer, Bigfoot Films. 'We made sure this one felt like home – literally,' she added. 'The kitchen was brought to life as a warm, everyday space that felt straight out of an IKEA catalog and someone's real life.' Salamé also attributed the campaign's final look to it's casting. 'Casting actors with genuine chemistry was key, so the story had that natural, 'yep, I've been there' kind of vibe. It was all about blending brand and heart without missing a beat,' she said. 'It's where life truly happens, in all its raw, beautiful glory. We hope this reminds people that an IKEA kitchen is designed to be a foundation for all those real, everyday moments that make a house a home,' Klumpenaar said. The campaign film is fast and energetic, with a touch of ASMR. 'It's designed to sit seamlessly within the social landscape, where most people look for ideas and make decisions,' Metwally explained. 'The pace, visuals, and sound all work together to feel native to platforms like Instagram and TikTok, making the content feel less like an ad and more like a moodboard.' 'An Everything Kitchen' aims to encapsulate all that a kitchen is, while appeasing the senses. Sometimes raw, sometimes beautiful, but always, always real. Credits: Brand: IKEA UAE GM Marketing: Carla Klumpenaar Regional Marketing Manager: Dina Sahhar Regional Communication Manager: Salama Ahmed Interior Design Manager: Binita Roychowdhury Regional Interior Design Leader: Luiza Jodziewicz Regional Interior Design Leader: Luiza Jodziewicz Regional Digital Marketing Leader: Jay Qudras Regional Marketing Specialist: Houda Sfar Regional Marketing Specialist: Mohamed Maihoob Advertising Agency: Memac Ogilvy, Dubai, United Arab Emirates Chief Creative Officer: Gautam Wadher Creative Director: Moemen El Siwi Senior Copywriter: Carl Khoury Senior Art Director: Alicia McBride Senior Art Director: Leomerish Leyco Head of Arabic: Shadi Kharmacho Content Manager: Ahmed Elbeshbishy Animator: Antonio Geagea Head of Social: Karl Hitti Social Director: Ahmed Nour Senior Social Account Manager: Yara Maalouf Senior Social Account Executive: Layan Abdo Managing Partner: Kevin Kurian Account Director: Ashleigh Morgan Senior Account Manager: Georges Enkiri Chief Strategy Officer: Mario Morby Senior Strategy Manager: Yasmina Raydan Production House: Bigfoot Films
Egypt Independent
07-05-2025
- Business
- Egypt Independent
Egypt's foreign reserves rise to US$48.144 billion by the end of April: CBE
The Central Bank of Egypt (CBE) announced that the country's net foreign exchange reserves rose to approximately US$48.144 billion by the end of April. According to data published on CBE's website on Tuesday, Egypt's foreign exchange reserves rose by approximately $387 million during April, from approximately $47.757 billion at the end of March 2025. This increase reflects a gradual stabilization in macroeconomic indicators and a recovery in dollar resources, thereby improving the country's ability to meet its external obligations and meet the market's foreign exchange needs. Foreign reserves play a pivotal role in supporting the national economy, as they are used to provide strategic goods, pay off foreign debt installments and interest, and deal with economic crises, especially during periods of fluctuating revenues from foreign currency-generating sectors such as tourism, exports, remittances from Egyptians abroad, and foreign direct investment. Banking expert Tarek Metwally emphasized that the increase in foreign exchange reserves is an important message that reflects an improvement in foreign exchange resources. He explained that several reasons led to the increase in the CBE's foreign exchange reserves, including the recent increase in remittances from workers abroad, in addition to the increase in Egyptian exports during the first half of 2025. Metwally added that tourism has witnessed a significant boom recently, supporting foreign currency inflows and foreign direct investment, which represents a primary source of hard currency and bolsters foreign exchange reserves. He pointed out that Egypt's foreign reserves consist of a diverse basket of major global currencies, most notably the dollar, euro, pound sterling, Japanese yen, and Chinese yuan.
Egypt Independent
16-04-2025
- Business
- Egypt Independent
Central Bank of Egypt to cut interest rates, expert says
Banking expert Tarek Metwally anticipates the Central Bank of Egypt (CBE) to cut interest rates by 200 basis points (equivalent to two percent), despite rising fuel prices and the potential for the return of inflation. The Central Bank's Monetary Policy Committee will hold its meeting on Thursday – its second meeting regarding interest rates in 2025. Metwally noted that this meeting comes amid accelerating economic challenges, making the decision to hold or cut rates debatable, each with its own justification. During a telephone interview with TV host Lamis al-Hadidi on the'Last Word' (Kalema Akhera) TV show, Metwally explained that there are several reasons supporting the move to cut interest rates. Among these reasons is the positive gap between inflation and interest rates. 'The inflation rate is currently at 13 percent, while the interest rate is 27.5 percent. Even if inflation rises to 15 to 17 percent following the increase in fuel prices, there remains a large positive margin (seven to eight percent) that allows for a reduction without a significant impact on inflation targeting,' he explained. He noted that that the second reason is stagnation in local markets, noting that Egyptian markets are suffering from a clear recession. Metwally explained that the third reason for the reduction is the rising burden of public debt servicing, as: 'The general budget bears an increasing burden due to public debt, which doubles by approximately 100 percent every 3.5 years. This calls for stimulating economic growth and reducing the cost of government borrowing by lowering interest rates.' He concluded by saying that a '200 basis point interest rate cut will not negatively impact inflation targeting and will give the government and the private sector room to maneuver amid economic pressures.'
The Guardian
21-02-2025
- Science
- The Guardian
Hurricane-proof skyscrapers vulnerable to less powerful windstorms, study finds
Skyscrapers built to withstand major hurricanes fare much more poorly in less powerful windstorms known as derechos, researchers have found, raising questions for cities worldwide over the resilience of tall buildings as the climate emergency worsens. A team from Florida International University's (FIU) civil and environmental engineering department studied the unexpectedly severe damage caused to buildings in Houston, a city with 50 skyscrapers of 492ft (150 metres) or more, during the 16 May 2024 derecho. They found that the storm's long line of fast-moving thunderstorms spawned 'downburst' winds peaking at 90mph that bounced off the buildings and inflicted considerable damage, especially to the facades of structures designed to withstand stronger, category 4 hurricane-force wind speeds of up to 156mph. The same buildings, by contrast, were virtually unscathed during category 1 Hurricane Beryl in July, when sustained wind speeds were similar to those of the earlier derecho, but without their more erratic, up and down nature, or explosive bursts at or near ground level. The results were published on Friday by the peer-reviewed science website Frontiers in Built Environment. The FIU study focused on five of Houston's tallest and most iconic buildings but, the researchers say, it could have profound implications for cities elsewhere as the climate crisis and soaring ocean temperatures fuel stronger and more frequent severe weather events, including hurricanes, fires and floods. They stress that the wind speeds in a derecho, which can vary from far below major hurricane strength to match or exceed it, is not as consequential as how that wind is dispersed. A 'unique characteristic' of a downburst, they say, is how the wind blows outwards in all directions when it reaches the ground. 'When strong winds move through a city, they can bounce due to interference between tall buildings. This increases pressure on walls and windows, making damage more severe than if the buildings were isolated,' said Omar Metwally, an FIU doctoral student and the report's co-author. 'On top of this, downbursts create intense, localized forces which can exceed typical design values for hurricanes, especially on the lower floors of tall buildings.' Metwally called it a 'one-two punch effect' that the FIU team predicts will become an even worse problem for states around the Gulf of Mexico, where a 0.34F rise per decade over the last half-century is twice the rate of oceans globally. Amal Elawady, professor of structural and wind engineering at FIU, and the team's leader, said the research would also have relevance in other countries, where regulations for building design and wind loads are often calculated primarily with hurricane categories in mind. 'It's not only a US issue. Downbursts are also very common and very frequent in Europe and worldwide,' she said. 'How a building responds to a thunderstorm is different from the way they respond to hurricanes, so it's something that needs to be considered, not just for the buildings, but also for the components, like the cladding, the envelope of the building.' Sign up to Headlines US Get the most important US headlines and highlights emailed direct to you every morning after newsletter promotion Metwally said he hoped the research would lead to a reevaluation of regulations and design of future tall buildings, as well as urban planning, as officials became more aware of the complexity and potential negative outcomes of downburst events. The FIU analysis focused on Houston's Chevron Building Auditorium, CenterPoint Energy Plaza, El Paso Energy Building, RRI Energy Plaza, and Wedge International Tower, all built between 1962 and 2003 and between 518ft and 742ft tall. Construction standards require them to withstand winds up to 67 metres per second, or category 4 hurricane strength. During last year's derecho, facade panels were dislodged and cladding damaged, especially on corners and lower floors. Broken glass and other hazardous debris fell onto downtown streets and the aftermath brought significant socio-economic impacts including traffic disruptions, businesses temporarily closing, and a huge bill for clean-up and repairs. The FIU team ran simulations of the downbursts and hurricanes on modeled replicas at the university's Wall of Wind experimental facility in Miami, funded by the National Science Foundation. Suction on the sides of buildings was substantially more evident during downburst events, explaining the ripping away of cladding and broken windows that did not occur during the hurricane. 'It's not likely that a tall building will fail under wind, either hurricane or downburst,' Elawady said. 'But it causes damage, debris and water intrusion, and once you have a broken window you have a change in the internal pressure in the building and then the total force on the building is different,' she said. Ongoing and future FIU research will look at the effects of downbursts on transmission lines, lighting poles, telecommunication towers and low rise buildings as well as more studies on skyscrapers. 'It's a very complex problem that needs to be thoroughly studied, and we're trying our best to better understand it,' Elawady said.
Zawya
28-01-2025
- Business
- Zawya
Economic Boost: Egypt's Leather Industry on the Move
The leather industry has been a key player in Egypt's industrial landscape, contributing to economic development and export revenues. Renowned for its rich heritage in craftsmanship and access to high-quality raw materials, Egypt's leather industry is experiencing a remarkable resurgence. This growth is fueled by rising demand and strategic government initiatives aimed at modernizing and expanding the sector. Leather Industry on the Rise Having high growth potential, it is evident that the Egyptian leather industry already contributes to the economy. In 2023, Egypt's exports of leather, shoes, and leather products surged by 25% year on year (YoY), reaching $113 million, according to the Industrial Modernization Center (IMC). In this regard, Mohamed Fouly, Chairman of the Board of the Robbiki Leather City, tells Arab Finance: 'The 25 % increase was shown in leather for tanning exports, but it was more evident in leather products such as shoes, belts, and bags. This spike stems from higher investments and less importation.' As per data by IMC, the leather industry in Egypt employed many across 160 leather tanning factories, 874 leather product factories, and 976 footwear factories in 2023. Key Drivers of Leather Exports The leather industry encompasses tanning companies, which process animal hides and skins, a byproduct of the food industry, into leather that is eventually used to manufacture finished products like footwear, garments, and other goods. Egypt's livestock population reached 7.5 million heads in 2023, former Minister of Agriculture El Sayed El Quseir unveiled in June 2024. The abundant livestock significantly contributes to the flourishing leather industry. Economist Ali Metwally attributes the sector's export boom to competitive pricing. 'Global demand for Egyptian leather products is rising due to competitive pricing enabled by the Egyptian pound's depreciation, making export more attractive,' he says. 'Projections indicate further growth in Egypt's luxury leather goods market by 3-5% between 2025 and 2029. By 2029, the market volume could reach approximately $250-300 million,' Metwally adds. Additionally, Metwally expects Egyptian leather products to see robust international demand, particularly in the luxury and footwear segments. Overcoming Industry Hurdles Egypt's leather industry may face some challenges that hinder its progress. According to Metwally, 'the industry faces several challenges, including high import costs for raw materials and chemicals, outdated production techniques, and the global shift towards sustainable and ethical sourcing.' 'Tightening global regulations on the environmental impact of leather production requires significant upgrades to Egypt's processing capabilities. A lack of innovation in producing higher-value leather goods limits global competitiveness,' he explains. 'Exporters encounter barriers related to meeting international quality and certification requirements. Additionally, geopolitical and economic instability can impact investor confidence and disrupt exports,' Metwally highlights. To face these challenges, Metwally suggests adopting modern production technologies, leveraging trade agreements to secure raw material supplies, and aligning with international environmental standards. 'Fostering local raw material production is also important. Government initiatives, such as subsidy reforms and private sector engagement, can further strengthen the industry's resilience,' he adds. A Model for Industrial Development Despite the challenges, the Egyptian leather industry has a promising future, driven by the government's establishment of the Robbiki Leather City. This initiative aims to significantly boost finished leather production from 125 million to 350 million square feet annually, enhance products' value by completing all production stages, and create 25,000 new direct jobs upon project completion, as stated by the Egyptian Presidency website. 'Lately, Robbiki Leather City saw the opening of 100 new factories for shoes and leather. This brings tanning and leather products industries into the same zone,' Fouly says. Moreover, Fouly emphasizes the importance of reactivating the technology leather center in Robbiki Leather City and employing more skilled workers in the field. Meanwhile, Metwally agrees, noting, 'Al Robbiki Leather City is poised to significantly impact Egypt's leather industry by modernizing production processes and enhancing export capabilities. As a specialized industrial hub, it offers integrated facilities and advanced technology to bolster value-added production.' 'The successful operation of Robbiki could serve as a model for industrial development in other sectors. This underscores the importance of infrastructure upgrades, strategic investments, and active participation in global value chains for the future of Egypt's leather industry,' Metwally points out. The industry is expected to see further growth in the upcoming years. 'As leather industry leaders, we believe we can double the production value and volume within a year for both the local market and exports,' Fouly indicates. The Egyptian leather industry is on the brink of significant growth driven by a confluence of factors. A robust domestic market, coupled with a surge in international demand, particularly for luxury and footwear products, pushes the sector forward. Government initiatives, like the Robbiki Leather City, are modernizing production and enhancing efficiency. They foster Egypt's competitive edge in the global leather market. © 2020-2023 Arab Finance For Information Technology. All Rights Reserved. Provided by SyndiGate Media Inc. (
