Friday, 3 May 2019

Ramadan Kareem

The Beginning

Your Wealth is a custom Enterprise briefing for people just like you: Executives, entrepreneurs and builders who know that time isn’t money, but that time and money are feedstock for the one thing that matters most in life: Your family, however you define it.

Once a month, in partnership with our friends at CIB Wealth, we’ll bring you a hand-picked selection of ideas, tips and inspirational stories that will help you make the most of your time, enhance our wealth, and build a better life with the people you love.

As always, we love hearing from readers. Send us story ideas, hints, tips or interview suggestions to editorial@enterprise.press.

Your Life

Ramadan Kareem, ladies and gentlemen: It’s that time of year again. Fawanees are lining the streets, the lights are going up, and with just a few days until the start of the holy month, many of us are savoring the simple pleasures of eating during daylight hours. Over the next 29-30 days, many iftars and suhours will be had, hundreds of hours of mosalsalat will be watched and fewer hours will be worked (although normal working hours apply for us here at Enterprise). Ramadan celebrations affect every aspect of our lives during the holy month, so we touch on different aspects of this in our special Ramadan issue: from food and work to shopping and entertainment.

Reminder: Ramadan is due to begin Monday, 6 May. Fajr prayers will take place at 03:31 AM while iftar is at 06:37 PM.

With an estimated 1.8 bn Muslims worldwide, Ramadan is a truly global celebration. The Guardian shares a series of pictures of Muslim communities from Indonesia to Iraq, Pakistan to New York, observing the Holy Month through practices both old and new.

An ancient tradition still ongoing: Deep in the heart of old Cairo, just outside the gates of Bab Zuweila, an Egyptian tradition that could date back to the time of the Pharaohs remains alive in the tentmakers market. No need to look anywhere else for your Ramadan decorations; here you can find high-quality khayamiya garments at much lower prices than in any Zamalek or New Cairo souvenir shop.

But will it survive? Built during Ottoman rule, the tentmakers market, also known as Qasbet Radwan, is the only covered market left in Cairo. While its craftsmen used to make the cover for the Kaaba and send it to Mecca, for some years they have struggled to compete with machine-made Chinese imports and declining interest from both locals and tourists.

But a recent resurgence of interest in their work has come from specialist art institutions, forums and exhibitions abroad, where the craft is celebrated. This enthusiasm has been fueled by the 2015 release of an award-winning film documenting the struggle of the tentmakers to preserve their work and legacy.

What better time of year to immerse yourself in Egypt’s unique history and culture, while shopping for beautiful handmade khayamiya? You can take a photo tour of the market here.

The spirit of Ramadan can be found in unusual places: We all associate Ramadan with the joy and relief of breaking our fast with family and friends, large gatherings and post-iftar excursions. But what’s it like to spend the holy month far from your community or in a non-traditional environment? British publication Emel takes a look at Ramadan celebrations at upmarket Eton College, where the month of reflection is also a chance to encourage interfaith dialogue with students of different faiths, at Wormwood Scrubs prison, where prisoners help with the careful preparation and allocation of food, and at the New Muslim Project, where converts to Islam are given guidance on how to observe Ramadan and tips on where to meet with other Muslims. Meanwhile, Good Morning America tells the story of how the Islamic Center at New York University provides a sense of community to lonely people of different backgrounds, including young Muslims spending Ramadan far from home.

Applying Ramadan values to extreme environments: The Atlantic asks how it is possible to fast in Sweden, Norway or Finland during the periods when the sun doesn’t set (put simply, the countries are given the choice between corresponding their fast to the closest Islamic country or fasting with Mecca). And The New York Times recounts the dilemma of Sheikh Muszaphar Shukor, Malaysia’s first astronaut, who faced the challenge of how to observe Ramadan in outer space.

Delicious Ramadan recipes from all over the world: Whether your typical Ramadan involves preparing a favorite dish for your family, relishing that first sip of qamar al-din or having just a small extra piece of konafa, there’s no question that the joy of sharing food is a fundamental part of the Holy Month. We’re all looking forward to eating our traditional favorite meals but for anyone wanting to be a bit more experimental, these recipe ideas combine Ramadan staples from all over the world with new flavor pairings for something a little different. We particularly like the sound of pomegranate stew with chicken, spit-roasted Moroccan lamb and dates with cream and chopped pistachios.

Your top 5

Your top 5 pieces of business and economic news in Egypt in April:

  • A three-day referendum held on proposed amendments to the Egyptian constitution results in the changes being passed, after almost 90% of voters back them.
  • Heliopolis Company for Housing and Development has been dropped from the lineup of companies included in the first wave of the state privatization program.
  • The EGP had an 11-week rally against the USD, although we should prepare for a ‘correction’ if the USD hits EGP 17.10.
  • The 0.25% levy businesses will have to pay to finance the universal healthcare system will be charged on revenues and will not be tax deductible this year.
  • Moody’s has upgraded Egypt’s credit rating to B2 with a stable outlook from B3 with a positive outlook.

Your Time

Most familiar faces will be back on Egyptian TV this Ramadan, but both Adel Emam and Amr Youssef are out of this year’s drama race. Emam was set to star in Valentino, but scriptwriter Ayman Bahgat Amar took to Twitter last month to talk about crises experienced by the series in the days leading up to Ramadan. This involved a production crisis which led Valentino’s makers to postpone its screening until after Ramadan, says Al Bawaba. Youssef, meanwhile, doesn’t seem to have announced his participation in any productions this season. While the absence of El Zaeem is disconcerting, an abundance of other Egyptian talent will certainly make up for it in our eyes. Emirates Women has the full list of this year’s most anticipated shows, including (the now cancelled) Valentino. Among the ones we’re most excited about, which we’ve chosen based on their top-billed cast members’ critical acclaim and popularity, are:

How to remain productive during Ramadan: It’s a generally accepted fact that productivity declines significantly during Ramadan, with some studies suggesting that we become less productive by anything from 35-50% in the Arab world. But while it’s impossible to completely prevent long hours of fasting (and then long hours of socializing) from taking a toll on our energy levels, there are some things we can do to stop the time running away from us completely.

Planning how to use your time is key: The Islamic Online University, Ink and others recommend applying some general time management techniques, setting S.M.A.R.T goals and being clear and intentional about what you want to achieve. As much as you can, plan to tackle your most important or challenging tasks when your energy levels are at their highest. Starting your to-do list as early in the day as possible (some recommend starting work right after suhour) is the best way to power through it, and ditching face-to-face meetings whenever possible in favor of video or conference calls saves everyone’s time and energy.

Above all, be realistic in your expectations: You probably won’t be operating with quite your usual level of productivity, but by eating well (a light iftar and a good, nutritious suhour), embracing afternoon naps when you can, and giving yourself a few evenings to rest from large family gatherings and recharge your batteries, you can still get things done without tiredness getting the better of you.

Ramadan is a reminder that time and energy are among our most precious resources. So what could be better than a tailored set of services designed to help you save your time and conserve your energy for what’s really important? With CIB Wealth dedicated to setting the industry standard for delivering personalized hospitality experiences, a host of personal concierge services are now at your fingertips. For the first time in Egypt, CIB is offering its Wealth clients a program of luxury concierge services, with your time, ease and well-being in mind.

The program, offered through CIB’s new Wealth Concierge services from Les Concierges Egypt, offers a host of services that can be personalized based on your particular needs. So whether you need help checking errands off your to-do list, assistance booking a business flight, or dinner reservations, with CIB Wealth Concierge services, everything is possible.

CIB Wealth customers will have exclusive and immediate access to round-the-clock tailored services such as:

  • Assistance with government services
  • Bill payments
  • Doctor referrals and appointments
  • Travel services
  • Errands
  • Home care
  • Dining reservations
  • Personal shopping
  • Auto care
  • ​VIP services​

Your Money

Not only does Ramadan affect how we spend our time, but how we spend our money. Research by Nielsen and Google conducted in 2017 and 2018 respectively took an in-depth look at how our shopping choices, media consumption and travel plans change during the Holy Month.

Media: Nielsen found that TV viewers across 11 major cities increase to an average of 7 mn per day from 5.9 mn due to more people tuning in around suhour time. Similarly, watch time on YouTube rises by around 40% during Ramadan, 17% more people go to the cinema and there is a 13% increase in radio listeners.

Shopping: The growth of online retailers allows us new insight into the consumption patterns of people throughout the year. Nielsen found that during Ramadan we tend to buy more food, home furnishings, clothing and traveling products. And thanks to Eidiya, smartphone ownership rose 7% in 2017.

Travel: Eid El Fitr is the most popular travel time for many Muslims, judging by the 54% increase in tourism and travel reviews. Hurghada appears to be the most searched destination within Egypt, followed by Sharm El Sheikh. Outside of the country, religious destinations seem to rise significantly during the holy month, with searches for Umrah doubling.

GDP growth slows down despite eating more: Although consumption is greater at this time of year, it seems that a one hour increase in fasting actually leads to a 0.7% decrease in yearly economic growth, a 2015 study by public policy professors Filipe Campante and David Yanagizawa at the Harvard Kennedy School on the economic impact of Ramadan (paywall) finds. This negative spillover effect was found to affect all measures, including GDP per worker, per capita, and total GDP. All things equal, those measures were found to be negatively correlated with fasting hours. The researchers exploited the fact that countries further away from the equator experience a larger variation in fasting hours, thereby allowing them to base findings on fasting hours alone.

A separate, 2011 study revealed that since Muslim economies lose an average of 40 working hours during Ramadan, GDP, in turn, decelerates 7.7% during the month. Both studies suggest that output losses from there being less business more than offset gains from increased food consumption, the latter also being known as the notorious “Ramadan effect.”

Your Health

And we get to that horrid Ramadan dilemma – to fast or to exercise. It seems that every year we hear more stories of the dangers of overeating during Ramadan, with spikes in hospital visits and new cases of diabetes being particularly prevalent in Gulf countries.

Nutritionists are at pains to point out that the problem isn’t fasting itself, but there are some common pitfalls you just have to work a little harder to avoid if you want to stay healthy.

So what are the top tips? Firstly, try to limit your consumption of heavy fried food in favor of a diet rich in thirst-quenching fruit, good protein and leafy green vegetables. To get you started, here is a meal and exercise plan for the month, packed full of great ideas. For anyone wanting to incorporate a little more movement into their daily lives, these 15 tips  from real people (in other words, not hardcore exercise fanatics) are a good place to start. The pointers include januvia-sitagliptin.net before iftar, taking a stroll through the city and walking to and from the mosque, so you can adapt them to fit your own schedule and fitness level.

For people with particular health conditions like anaemia or diabetes, both of which can be exacerbated during the Holy Month, it’s worth reading some of the many fasting tips  that are available, so you can take care of your health and give your family peace of mind. It’s especially important to make sure your diet keeps your blood sugar levels steady, so try substituting wholewheat for white bread, rice or pasta and choosing low-fat versions of cheese or yoghurt, lots of vegetables, fruit and pulses, or raw nuts as a snack. Try to limit your portions of red meat and sweet treats. We also find these tips from Hull University Teaching Hospitals for people with diabetes particularly helpful.

And finally, we’ve probably all experienced the embarrassment of bad breath due to fasting at one time or another (and it’s no fun at all). So how do you avoid this situation? Here are some clues.

The potential health benefits of intermittent fasting: In fact, when undertaken properly, the process of intermittent fasting (or fasting for periods of 12-16 hours) can result in a variety of benefits including weight loss, decreased risk of chronic illnesses, and improved brain health, according to Medical News Today. Fasting can lower insulin levels, causing the body to break down glucose stores and, in turn, help you burn fat. Because being overweight is a massive risk factor for type 2 diabetes, weight loss can reduce a person’s risk of contracting this chronic illness. But again, this is only the case if you are consuming food that allows your blood sugar levels to remain steady. Finally, one study on intermittent fasting in mice showed that it can result in better memory function, meaning it could actually be a way to stay sharp, particularly as you get older.

To all our readers, we wish a blessed and peaceful Ramadan to you and your families.

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