Latest news with #Cairo-based
New York Post
2 days ago
- Entertainment
- New York Post
Tattoo artist roasted for ‘demon-like' image of client's baby: ‘I'm sorry you lost your dog bro'
Terrible tattoos are timeless, but as of late, it seems like more and more inked-up individuals are taking to the Internet to share their strange, questionable and sometimes even trashy tattoos. Between Gen-Z's recent revival of the tramp stamp and a Swiss woman's viral $600 Red Bull barcode tattoo, social media users seem to agree that they could go a while without seeing another mega-viral miss in the tattoo department. Unfortunately for the aforementioned members of the public, Cairo-based tattoo artist Thomas Tattoos proved to be the latest object of ink-based ridicule after he posted a video to his Instagram account, @ink_by_thomas, presenting his latest piece. The piece was presumably intended to be a portrait of the client's daughter, but commenters saw more resemblance between the final product and Gollum from 'The Lord of the Rings' — a demon and the fictitious ogre, Shrek, were also popular comparisons. Evidently, the visually offensive tattoo struck a nerve with social media users who stumbled across the video, which now has over 31 million views and thousands of comments — and shockingly, they're practically all negative. 'What days are you closed?' asked one commenter, while another like-minded inquired: 'Ayoo, do you accept walkouts?' 'Your wife must have a tattoo removal business…. I see what you're doing now,' replied a commenter under another video on the artist's page. Some users speculated that maybe, just maybe, the tattoo wasn't that bad, and the baby just happened to be… unpleasant looking. 'Prayers for the baby if it looks like that,' offered one sympathetic scroller. 'Well, it's not nice to say… But not all kids are pretty and cute,' said another. Meanwhile, another slightly more suspicious individual said, 'I gotta see the reference picture.' Ask and you shall receive, apparently. Shortly after comments like this rolled in, Thomas Tattoos shared a post of the original stencil design side-by-side with the finished piece. 'I don't have an appointment, but I would like to cancel anyway,' replied one aggrieved commenter after seeing the stencil. Instagram / @ink_by_thomas Unfortunately for Thomas Tattoos, commenters found the tattoo even more outrageous after seeing the original portrait of the baby, Tallin. 'Bro doesn't have customers, he has victims,' joked one reply. 'You sell vouchers?' asked one malicious user, 'My ex is gonna get one for a big piece.' As many commenters noted, typically, tattooists specialize in one or at most, a few art styles. Judging from other content on the artist's page, he does everything from traditional to fine line to portraits to geometric cyber sigilism tattoos. Despite the firestorm of fury on behalf of the customer that followed the viral video, Thomas Tattoos doesn't seem to have taken the commenters' negativity to heart. The ink master is still keeping followers and haters alike up to date on all of his latest work on his Instagram account, and shows no signs of slowing down — he's even done another baby portrait!
CairoScene
3 days ago
- Business
- CairoScene
Swypex Launches Egypt's First Approval-Based Corporate Card
Backed by Accel and licensed by Egypt's central bank, Swypex's new product brings dynamic, policy-driven spend controls to local businesses as part of its Premium offering. Jun 20, 2025 Cairo-based fintech platform Swypex has launched Egypt's first Approval-Based Limits Card, a new product designed to give businesses precise control over employee spending. The card is available exclusively through Swypex Premium, the company's recently introduced subscription tier for enterprise financial management. The Approval-Based Limits Card allows finance teams to assign dynamic spending limits that remain locked until individual transactions are reviewed and approved. This model, inspired by petty cash systems, enables a rotating balance approach — giving finance departments real-time visibility and automated enforcement of internal policies. Swypex's rollout comes amid Egypt's accelerating digital transformation. While mobile wallets and financial inclusion are on the rise — with over 74% of adults now financially included — nearly 94% of business payments remain undigitised. Swypex aims to close that gap by delivering fintech solutions tailored to Egypt's business environment, while adhering to global product standards. 'Egyptian businesses want control without friction, and this card gives them exactly that,' said Ahmad Mokhtar, Co-Founder and CEO of Swypex. 'Approval-Based Limit Cards bring a new standard of precision and agility to business finance. It's the bridge between old-world cash management and seamless, secure corporate spending.' The new card is one of several features available through Swypex Premium, which also includes unlimited cashback, flexible spend controls, and custom approval workflows. The broader Swypex platform integrates payments, invoicing, corporate cards, and financial operations into a single interface. Swypex is licensed by the Central Bank of Egypt and backed by a $4 million seed round led by Accel — the venture capital firm's first fintech investment in the MENA region. The company positions its platform as an end-to-end financial stack for businesses looking to modernise their operations, with onboarding that takes just three minutes.
CairoScene
3 days ago
- Entertainment
- CairoScene
Molotof Taps Into His Ultras Roots With New Track 'ULTRUS'
In his new single, Molotof reflects on resistance and resilience, channeling the spirit of Egypt's ultras and street art in his return to the rap game. Jun 19, 2025 Cairo-based producer and rapper Molotof continues his long-awaited rap comeback with a new track that doubles as a personal manifesto. Raw, direct, and steeped in history, 'ULTRUS' reflects Molotof's years of resistance, both in sound and spirit. Returning to his lyrical roots, Molotof uses this track to speak directly to the forces that tried to silence him. But instead of backing down, he leans into the legacy that shaped him: Egypt's street art movement, the enduring presence of the ultras, and the unspoken codes of loyalty and rebellion that run through both. The track bristles with energy, its production carrying a charged minimalism that lets the lyrics hit harder. 'They fought me,' Molotof says, 'but I kept going—because my weapons are different.' Those weapons, he explains, are the values, visions, and collective memory forged during his time in the streets, when 'Molotof' was more than just a name, it was a signal. His message is clear: the past isn't something to escape, it's a source of strength. With this release, Molotof stays grounded in the codes that made him, and proves that resistance, when honest, always finds new form.
The Star
4 days ago
- Business
- The Star
Roundup: Egypt strives to mitigate economic fallout from Israel-Iran war
CAIRO, June 18 (Xinhua) -- As the Israel-Iran conflict casts a heavy shadow over the Middle East, fears are mounting over its economic repercussions. In response, the Egyptian government has sought to reassure the public, affirming there is no cause for alarm. During a cabinet meeting on Wednesday, Egyptian Prime Minister Mostafa Madbouly assured citizens that all essential goods remain available in the local market, backed by strategic reserves sufficient for several months. Madbouly also announced the formation of a crisis committee, led by himself, to monitor the conflict's fallout. "There is no need for concern over the availability of basic goods," he said, adding that the government continues to monitor developments at all levels and is preparing "multiple scenarios" to handle potential outcomes. On Friday, Egypt's Ministry of Petroleum and Mineral Resources confirmed the suspension of natural gas imports from the east, referring to Israel, due to ongoing military operations. In response, the ministry said it had activated its emergency plan for domestic gas supply. The plan includes cutting gas allocations to some industries, maximizing fuel oil use in power plants and using diesel in some others. These measures aim to preserve the gas network and avoid power load reductions while awaiting the resumption of supplies. Despite official reassurances, Ramadan Abu Al-Ela, professor of petroleum engineering and vice president of Pharos University in Alexandria, said Egypt is already suffering from the halt in Israeli gas supplies, estimated at 800 million cubic feet daily. "There is global disruption due to the war's effect on gas supplies, and it's not limited to Egypt," Abu Al-Ela told Xinhua. He stressed the need for the government to either find an alternative source to replace Israeli gas or revert to electricity load-shedding, especially with the high summer demand approaching. He added that beyond supply disruptions, the conflict is likely to cause sharp increases in energy prices. "Oil prices have already increased by 12 percent and gas by 7 percent in the first few days of the war," he said, warning that prolonged hostilities would further raise prices and impact multiple sectors of the economy. The ongoing conflict began with Israel's massive strikes on Iran on June 13. The escalation has fueled regional and global concerns over the potential for a broader, economically devastating confrontation. Khaled El-Shafey, an economist and head of the Cairo-based Capital Center for Economic Studies and Research, warned that the conflict would disrupt trade and drive up prices. "With the continuation of the war, we will see a slowdown in trade, disruptions in supply chains, and other negative repercussions," he said, noting the impact is not limited to Egypt. "Suez Canal revenues are also declining, and shipping and commodity costs are rising. This will have real impacts," he added. Mohamed Othman, head of the Cultural Tourism Marketing Committee in Upper Egypt, warned of the war's effect on the tourism sector, a cornerstone of Egypt's economy, but hoped it would not lead to a prolonged slowdown. He noted that Egypt had seen record visitor numbers recently, with high expectations for continued growth in 2025. "We hope the tensions won't derail this momentum, as the world cannot afford more wars," Othman said.
Reuters
4 days ago
- Business
- Reuters
Explainer: Why is Afreximbank in focus over Africa debt restructuring deals?
NAIROBI, June 18 (Reuters) - The African Export-Import Bank has been thrust into the spotlight due to a dispute over whether its loans to African countries now in default should be subject to writedowns in debt restructuring deals. Here are more details about the Cairo-based lender: Afreximbank was set up by African governments in 1993 to provide trade finance when their economies were reeling from a debt crisis resulting from a crash in commodities prices. Its balance sheet has since grown to $35 billion. Though mandated to promote trade, it has also helped economies weather shocks like West Africa's 2014 Ebola outbreak and the COVID-19 pandemic through a $3 billion stabilisation facility. Crisis lending has turned Afreximbank into an important source of hard currency for cash-strapped governments. It launched a central bank deposit programme in 2014 modelled on a Banco Latinoamericano de Comercio Exterior initiative to raise capital from regional central banks to fund development. From just $75 million in initial deposits, this has now mobilised $37 billion cumulatively, or 40% of Afreximbank's sources of financing. Afreximbank has four shareholder categories. Class A is made up of African governments, which hold more than 50% of shares spread among 53 member states. The African Development Bank, Africa's biggest development lender, and other sub-regional financial institutions are also category A shareholders. African financial institutions and private funds hold Class B shares - about a quarter of the total. Class C shares are reserved for overseas investors. Afreximbank created Class D shares for general investors in 2017, listing them on the Mauritius Stock Exchange, and is considering a secondary listing. The current debate focuses on whether Afreximbank enjoys Preferred Creditor Status - a widely accepted principle giving multilateral development banks priority if a borrower faces distress. Though accepted by convention rather than awarded by an entity, the status would insulate Afreximbank's lending from painful haircuts during the kinds of sovereign restructurings recently carried out by Ghana and Zambia. Afreximbank says its founding treaty confers it with Preferred Creditor Status, precluding it from engaging in debt restructuring talks with its member states. Critics, however, point out that some of Afreximbank's lending is done on commercial terms - or market rates - rather than the concessional terms the International Monetary Fund or World Bank employ to extend loans and grants. Its ownership structure also includes commercial investors. Afreximbank is in a dispute in English courts with South Sudan over a claim of around $650 million across three facilities from 2019 and 2020. Ghana, struggling to conclude its debt overhaul, said it has invited the lender for talks on how to restructure its Afreximbank debt. Zambia has stated that its Afreximbank loan, estimated by think tank ODI Global to be $45 million, will be restructured due to its commercial nature. Malawian officials quoted in domestic media outlets say they want to engage Afreximbank to restructure and lighten the country's debt service burden. Afreximbank has repeatedly said it is not in restructuring talks with any of its member states. Afreximbank's two main dollar bonds suffered their worst daily drop in over a year this month after Fitch downgraded it to BBB-, from BBB, citing emerging credit risks. Afreximbank blamed the downgrade on an "erroneous" interpretation of its founding treaty. Given the negative outlook from Fitch, Afreximbank is at risk of further downgrades, which could raise its borrowing costs and trigger some forced selling of its bonds. Some investors think the outcome of the standoff could have a bearing on the successful conclusion of current and future debt restructurings. For Afreximbank, this is a sensitive time. It is expected to pick a new president during its annual meeting later this month, replacing Nigerian economist Benedict Oramah, who is set to step down after a decade in charge.
