Happy Monday, wonderful people. It’s relatively calm on the news front here at home so far, but we have a creeping suspicion that won't be the case over the next few days.

THE BIG STORY TODAY-

Italy’s Intesa Sanpaolo could soon own all of Alexbank: Italian bank Intesa Sanpaolo, which owns 80% of the Bank of Alexandria (Alexbank), is in advanced talks to acquire the remaining 20% stake in the bank owned by the government, a government source told Enterprise this morning. We’re expecting an official announcement about the acquisition soon.

REMEMBER- Alexbank wasn’t on the list of 32 companies the government is planning to sell stakes in over the next year, though the EGX said earlier this year that the bank was in the pipeline for a potential IPO on the EGX. Intesa bought 80% of Alexbank in a 2006 transaction as the institution was privatized.

THE BIG STORY ABROAD-

The one story dominating the foreign press this afternoon: US President Joe Biden landed in Kyiv earlier today in a surprise visit to meet with his counterpart Volodymyr Zelenskyy just days before the one-year anniversary of the Russian invasion of Ukraine. Biden arrived bearing gifts, announcing an additional USD 500 mn assistance to war-torn Ukraine and reiterating the United States’ support for the country. (AP | Reuters | Wall Street Journal | Washington Post | FT | Bloomberg)

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

• Our 2023 Enterprise Reader Poll results are in. The general consensus is that 2022 was a bad year for business, — and there’s uncertainty on what the future holds. To read the full survey results, click here.
• Yesterday in M&A: The Sovereign Fund of Egypt is reportedly interested in acquiring a minority stake in El Ezaby Pharmacy, while the shareholders of tourism developer Remco agreed to sell a five-star hotel in Sharm El Sheikh to a military-owned company.
• Offers roll in to build the EUR 1.6 bn Alexandria metro project. Three consortiums of local and international contractors have submitted final bids to convert Alexandria’s Abu Qir railway into an underground metro.

NOT HAPPENING TOMORROW-

Kevin Hart's standup comedy show in Cairo has been canceled due to “logistics issues,” according to TicketsMarche representatives. The show was supposed to take place tomorrow at Cairo Stadium, which issued a statement saying they have no plans to host the show. If you purchased tickets to the show, you will receive a full refund — the company will send out emails with instructions on how to get your money back, they said.

???? CIRCLE YOUR CALENDAR-

Egypt is hosting the U20 Africa Cup of Nations: The pan-African tournament kicked off yesterday with Egypt and Mozambique drawing 0-0 and Senegal defeating Nigeria 1-0. Cairo International Stadium, Suez Canal Stadium, and Alexandria Stadium will all host games over the next month. The final will be held on March 11 in Cairo.

The Cairo Food Summit is taking place on 27 February. The government-hosted event will bring together public- and private-sector players in the agricultural sector and related industries to discuss sustainable economic growth, according to a statement (pdf).

☀️ TOMORROW’S WEATHER- Expect temperatures to rise to 21°C during the day tomorrow before falling to 11°C at night, our favorite weather app tells us.