Good afternoon, ladies and gentlemen. We’re having a (so-far) calm start to the week, but we’re expecting the pace to pick up as everyone shakes off the weekend cobwebs.

THE BIG STORY TODAY-

USD 2 bn for nine regional industrial projects: Government officials and private sector firms from Egypt, Jordan, the UAE, and Bahrain signed 12 agreements to set up nine new industrial partnerships in agriculture, meds, minerals, petrochemicals, and electric vehicles, with a total investment outlay of some USD 2 bn. The signing of the agreements wraps up a two-day meeting in Amman on our new USD 10 bn industrial partnership with our regional neighbors.

CORRECTION- We wrote in this morning’s EnterpriseAM that the industrial partnership meeting in Amman kicks off today and ends tomorrow. In fact, the meeting got underway yesterday and ends today. The story has been updated on our website.

THE BIG STORY ABROAD

The front pages of the international business press are split between the anniversary of the Ukraine War — which “changed Europe for good,” according to the New York Times — and how investors are preparing for an increase in market volatility. The stock market is starting to feel fear again with investors changing their minds about the likely course of future interest rate increases due to mounting evidence of persistent inflation, the Financial Times reports. Traders are acquiring hedges at the fastest rate since the onset of the pandemic to guard against a potential downturn, according to the Wall Street Journal.

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

• NGE to build Sokhna-Alexandria high-speed rail link: French construction firm NGE and its subsidiary TSO will construct half of the first phase of Egypt’s high-speed rail line. TSO will be responsible for laying the 330 km section of track connecting Ain Sokhna to Borg El Arab via Sixth of October.
• Dongfeng EVs land in Egypt: Chinese auto firm Dongfeng’s E70 500 Pro electric vehicles are now being sold in the Egyptian market, courtesy of distributor Misr Helwan Automotive.
• EKH to invest USD 170 mn in Egypt this year + reports record sales in 2022: Egypt Kuwait Holding plans to spend some USD 79 mn to up its stake in subsidiaries, and will invest USD 91 in existing projects.

*** It’s Inside Industry day — your weekly briefing of all things industrial in Egypt. Inside Industry focuses each Sunday on what it takes to turn Egypt into a manufacturing and export powerhouse, ranging from initial investment and planning to product distribution, through to land allocation to industrial processes, supply chain management, labor, automation and technology, inputs and exports, regulation and policy.

In today’s issue: Our spinning and weaving industry is getting back on its feet. The Public Enterprise Ministry has developed a plan to revive several industries and create new ones through private-public partnerships, including the spinning and weaving industry.

???? CIRCLE YOUR CALENDAR-

The 4th edition of AUC Business Forum kicked off today and will run through Tuesday 28 February. 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 distinguished scholars, practitioners, policymakers, and executives from Egypt and abroad. You can follow the forum as it unfolds in real time on the institution's Facebook page.

☀️ TOMORROW’S WEATHER- Expect a daytime high of 28°C tomorrow and a nighttime low of 14°C, according to our favorite weather app.