Good afternoon, wonderful people. It’s not quite a news dump day — as hump days tend to be — but it’s not what we would describe as a quiet day, either.

THE BIG STORIES TODAY

#1- East Port Said is getting a USD 3 bn green hydrogen hub: The Suez Canal Economic Zone has given H2 Industries, a German-based energy storage company, preliminary approval to develop a USD 3 bn waste-to-hydrogen plant in East Port Said, executive chairman Michael Stusch told the National. The plant will consume 4 mn tonnes of waste a year, between organic waste and non-recyclable plastic and in return will produce 300k tonnes of green hydrogen annually.

#2- Affirma Capital and StonePine are now minority owners of Nerhadou: Emerging markets private equity firm Affirma Capital and StonePine have purchased a “significant minority” stake in Egyptian pharma player Nerhadou International in a USD 20 mn transaction, according to a press release (pdf). The transaction is still subject to regulatory approvals, as well as meeting “certain conditions agreed between the parties.”

^^We’ll have more on these stories and others in tomorrow’s EnterpriseAM.

** CATCH UP QUICK on the top stories from today’s EnterpriseAM:

• Egypt will sell USD 5 bn in foreign currency bonds in FY2022-2023, in what will be our first bond issuance in international debt markets since September, Vice Minister of Finance Ahmed Kouchouk said yesterday.
• Ezdehar reaches USD 168 mn first close of EMF II fund: Private equity firm Ezdehar Management has reached the first close of its Mid-Cap Fund II (EMF II), overshooting its USD 100-120 mn target to book commitments totalling USD 168 mn.
• Qalaa Holdings’ Taqa Arabia is looking to make its EGX debut next year, depending on market conditions, CEO Pakinam Kafafi said. The offering would be a revival of Taqa’s initial plans to IPO back in 2020, which covid derailed.

HAPPENING NOW- The House Local Administration Committee is looking into the effects that implementing the law regulating parking attendants (sayess) has had on improving traffic flow and creating revenue streams for state coffers.

THE BIG STORY ABROAD- Everybody’s gaze is fixed firmly on Ukraine, where a slew of foreign leaders are scheduled to arrive over the next several days in a show of support for Kiev in the face of what increasingly appears to be an imminent invasion from Russia. UK Prime Minister Boris Johnson, Turkish President Recep Tayyip Erdogan, and the foreign ministers of Germany and France are among those flying to the Ukrainian capital in the “flurry of diplomatic activity” in a bid to reach a detente, the Wall Street Journal reports. Meanwhile, Ukrainian President Volodymyr Zelenskiy signed off on a decree earlier today to bolster the country’s military over the next three years, according to Reuters.

First look at this year’s Nobel Peace Prize nominees: A few names have been thrown in the hat for the Nobel Peace Prize this year from Norwegian lawmakers — whose nominees often end up being laureates, according to Reuters. British nature broadcaster David Attenborough and Greta Thunburg are nominated for their contributions to environmental movements while the World Health Organization is getting a nod for its work during the pandemic. On the political front, nominees include: Jailed Russian dissident Alexei Navalny and the Myanmar National Unity Government formed by opponents of last year's coup, among others. Other nominations include Pope Francis, the International Criminal Court in the Hague, WikiLeaks and whistleblower Chelsea Manning, NATO, aid organization CARE, and the Arctic Council. The 2021 Laureate will be announced in October.

FOR TOMORROW- OPEC+ will meet tomorrow, when the cartel is expected to agree to another gradual oil production increase of 400k barrels per day — continuing a strategy that has so far failed to meet the recovery in demand as several member countries struggle to up their output.

???? CIRCLE YOUR CALENDAR-

Key news triggers to keep your eye on:

• Interest rates: The Central Bank of Egypt will hold its first policy meeting of 2022 on Thursday. All analysts surveyed in our regular interest rate poll expect the CBE to keep rates on hold, as they anticipate our rates continuing to attract portfolio inflows even amid Fed tightening and global inflationary pressures.
• PMI: January PMI figures for Egypt, Saudi Arabia, and the UAE are also due out on Thursday.
• Foreign reserves figures for January should be out from the Central Bank of Egypt before the week is out.
• Inflation: Inflation figures for January will be released next Thursday, 10 February.

From our friends at the US embassy: Women can now apply to join Fortune Global Women's Mentoring Program which will take place from 8-28 May 2022. The program aims to bring emerging women leaders from around the world to the US to meet and learn from the Fortune Most Powerful Women community, which includes executive women mentors from companies such as Accenture, Johnson & Johnson, and Aetna. The deadline to apply for the program is 8 February. You can begin your application by signing up here.

ALSO- The embassy is now accepting applications for Cultural Property Agreement Implementation projects that would help Egypt protect cultural property from looting, theft, and illicit trafficking. The guidelines state that concept notes should be sent in by this Thursday, 3 February, while shortlisted applicants will need to submit full applications by 4 May. Each project will receive USD 50-100k, with around USD 500k earmarked for the entire program.

The Cairo International Book Fair continues today at the Egypt International Exhibition Center. The event runs through to next Monday, 7 February.

Check out our full calendar on the web for a comprehensive listing of upcoming news events, national holidays and news triggers.

☀️ TOMORROW’S WEATHER- Expect a daytime high of 20°C and a nighttime low of 10°C tomorrow, our favorite weather app tells us.