Good morning, ladies and gentlemen. We have a diplomacy-heavy issue for you this morning, with Prime Minister Moustafa Madbouly leading a ministerial delegation to Qatar yesterday to push forward talks for fresh Qatari investment. Meanwhile, Foreign Minister Sameh Shoukry became the first senior Egyptian diplomat to visit Syria and Turkey in more than a decade yesterday as Egypt continues to mend relations with its former foes in the region.

WATCH THIS SPACE- New consumer financing options could be in the works: Consumer finance players could soon be able to offer loans through cards that allow users to make ATM withdrawals, under amendments the Financial Regulatory Authority is considering proposing to the Consumer Finance Act, Al Borsa reports, citing unnamed government sources.

PSA- Don’t throw your winter clothes back in the closet just yet: Temperatures nationwide will remain balmy until Thursday when they’ll dip during the weekend, the Egyptian Meteorological Authority said yesterday. Cairo and the Nile Delta will see highs of 28-30°C until Thursday before falling to 26°C during the weekend. The evenings will see lows of 13-15°C in the capital.

And maybe keep a mask to hand if you’re heading out and about: The Environment Ministry is warning of elevated pollution levels until 1 March due to a rise in airborne sand and dust. The ministry urged senior citizens and people with respiratory issues to avoid spending too much time outside.

WHAT’S HAPPENING TODAY-

It’s Day 2 of Madbouly’s trip to Qatar: Talks between the PM and senior Qatari officials yesterday yielded a double taxation agreement that could help to facilitate more investment from Doha into Egypt. However, there was little indication of how acquisition talks are progressing with the Qatari wealth fund, which is yet to deliver on the USD 5 bn investment pledge it made last year. Talks over investment in Egypt’s ports and the potential acquisition of TE”s minority stake in Vodafone Egypt have reportedly stalled in recent weeks, with the two sides unable to agree on how much of the assets should be on offer.

^^ We have the full story in this morning’s news well, below.

On Day 2: Madbouly will meet with the Qatari Businessmen Association and the country’s chamber of commerce and industry to discuss potential investments in Egypt.

It’s the third and final day of the AUC Business Forum: The event features five roundtables on the changing role of business schools and how to remain relevant and impactful in society, with a lineup of scholars, practitioners, policymakers, and executives from Egypt and abroad. You can follow the forum as it unfolds on the AUC School of Business Facebook page.

A busy day at the House: The House is expected to give a final sign off today to legal changes to amend the expat car import scheme and exempt mobile phone components from the 5% development fee. We have all the details from yesterday’s session in the House in this morning’s Legislation Watch, below.

Also happening today:

• Social Solidarity Minister Nevine El Qabbaj will face questions from MPs on pensions, social protection programs, and services offered to disabled people;
• The Legislative and Constitutional Affairs Committee will discuss four bills drafted by MPs on fighting cybercrime;
• The Manpower Committee will talk about the situation at the loss-making state company El Nasr Casting Company;
• The Industry Committee will discuss the poor financial conditions of the glass industry and the Misr Iran Spinning and Weaving Company;
• The SMEs Committee will discuss licensing of industrial land and streamlining the procedures for small-scale industries;
• The African Affairs Committee will review government policy aimed at increasing Egyptian pharma exports to African markets.

THIS WEEK-

Egypt-UN Partnership week is taking place ahead of the signing of the UN Sustainable Development Cooperation Framework (UNSDCF) 2023-2027.

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THE BIG STORY ABROAD- It’s a mixed picture on the global front pages this morning:

A post-Brexit Northern Ireland trade agreement struck by the UK and the EU yesterday is getting significant attention: The pact, sealed by UK PM Rishi Sunak and European commission President Ursula von der Leyen yesterday, is a major step forward to ending the years of uncertainty and increasingly acrimonious debate about the future of Northern Ireland, Sunak, who hailed the agreement as “the beginning of a new chapter” in UK-EU relations, now has the job of winning over the Conservative Party’s eurosceptic wing and get it through parliament. (Reuters | Bloomberg | Financial Times | New York Times)

White House downplays Energy Department covid assessment: The White House yesterday said there is no consensus among the government about how the covid-19 pandemic started, a day after the Energy Department endorsed the theory that the virus escaped from a Chinese lab, according to the Wall Street Journal. China earlier in the day accused the agency of politicizing the pandemic and trying to smear Beijing.

Also worth noting:

• A fresh tremor in Turkey: A new 5.6 magnitude earthquake hit southeast Turkey, killing one and injuring 110 others. This is the latest in a series of shocks that have left more than 50k people dead in Syria and Turkey this month. (Reuters)
• Another surprise visit in Kyiv: US Treasury Secretary Janet Yellen was the latest politician to make an unannounced visit to Ukraine yesterday, arriving in the country’s capital to reiterate Washington’s support for its war effort against Russia. (Reuters)

We are delighted to share with you that the Enterprise Exports & FDI Forum will be taking place on Monday, 15 May at the Four Seasons Hotel at Nile Plaza.

DO YOU WANT TO ATTEND? The first wave of invites is going out soon. If you’re a C-suite exec, exporter, investor, official, banker, or someone who should be part of the conversation, please TAP OR CLICK HERE to request a spot at this exclusive event.

What’s the Enterprise Exports & FDI Forum? It is the latest in our series of must-attend, invitation-only gatherings for C-suite-level business leaders. The Enterprise Exports & FDI Forum will discuss the critical topics of exports and foreign direct investment (FDI) in Egypt.

We will be taking an in-depth look into some of the most vital industry topics, including:

• How to effectively break into new export markets
• How to leverage domestic trends in order to create export opportunities
• What foreign investors are looking for
• What the government's role should be

Why now? Exports and foreign direct investment (FDI) have never been more important to our economy — or our businesses — than in the wake of the float of the EGP. We think we have a once-in-a-lifetime chance to build an export-led economy that makes us a magnet for FDI, and all the benefits that will come with it for our nation.

Think of the Enterprise Exports & FDI Forum as a hands-on lab for how to turn the devaluation of the EGP into something that will turbocharge your company and our economy.

Who’s on board? Some of the biggest names in business and finance are on board — are you? If you’d like to partner with us on the conference, ping a note to Moustafa Taalab, our head of commercial, here.

CIRCLE YOUR CALENDAR-

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

*** It’s Going Green day — your weekly briefing of all things green in Egypt: Enterprise’s green economy vertical focuses each Tuesday on the business of renewable energy and sustainable practices in Egypt, everything from solar and wind energy through to water, waste management, sustainable building practices and how you can make your business greener, whatever the sector.

In today’s issue: What do industry players want from our upcoming hydrogen strategy? The government’s long-awaited hydrogen strategy should be released in the coming weeks. We asked private-sector players and industry experts what they hope to see as they plan to establish green hydrogen plants in the local market.