Good morning, wonderful people, and a very happy THURSDAY. There’s enough going on here at home and in the region this morning to keep us on our toes as we slide into a much-deserved long weekend.

Yes, we said long weekend: We’re taking next Sunday, 16 April off here at Enterprise HQ to mark Coptic Easter (which is a bank holiday, though not a public holiday), as well as the Sham El Nessim public holiday on Monday, 17 April. We’ll be back in your inboxes at the appointed time on Tuesday, 18 April.

THE BIG STORY here at home this morning: M&A takes top billing today on local news reports that PE firm AfricInvest is looking to acquire 25% of the British University of Egypt. Meanwhile, the Madbouly government is working to drum up hard currency on several fronts, as the foreign press speculates about the likelihood of a fourth EGP devaluation.

There’s also tons going on in the neighborhood: The UAE’s president flew into Cairo last night, Arab foreign ministers — including Syria’s — are converging on Jeddah tomorrow, and Egyptian FM Sameh Shoukry will be in Turkey at the weekend amid tectonic shifts afoot in regional diplomacy. Scroll down for all the details on the realignment.

PSA- It’s official: The private sector is off from Thursday, 20 April until Tuesday, 25 April in observance of Sinai Liberation Day and Eid El Fitr, the Manpower Ministry said in a statementyesterday. Those dates have already been confirmed as off for the public sector. The central bank and the EGX should release their own announcements soon.

** SO, WHEN DO WE EAT? We’ll be breaking our fasts at 6:21pm CLT today. You have until 4:00am tomorrow morning to hydrate and grab a bite to eat.

WATCH THIS SPACE-

Is every local business getting a digital ID? The Supply Ministry has inked an agreement with CIB and Visa to develop the country’s first digital business registry, according to local media reports. The registry will provide every business operating in Egypt with a unique QR code and digital identification card that companies can use to access government services and make payments and ATM withdrawals.

THE REALIGNMENT-

#1- MBZ in Cairo: UAE President Sheikh Mohammed bin Zayed Al Nahyan arrived in Cairo yesterday for talks with President Abdel Fattah El Sisi, according to separate statements from Ittihadiya and Emirati state news agency WAM. The two leaders discussed ways to strengthen Egypt-UAE ties and developments in the region, Ittihadiya said, without providing further details. The story received coverage from Reuters, The National, and AFP.

REMEMBER- Cairo is seeking to secure FDI promised by the UAE and Saudi Arabia to help shore up our economy amid global volatility. Gulf investors have signaled their intent to channel capital into state-owned assets through the Madbouly government’s privatization program, but most of the c. USD 20 bn in pledged investment is yet to materialize amid reports that talks over some sales have stalled. El Sisi flew to Jeddah last week to take suhoor with Saudi Crown Prince Mohammed bin Salman.

#2- Shoukry heads to Turkey: Foreign Minister Sameh Shoukry is in Turkey this weekend to follow up on recent talks to normalize relations. Shoukry has in recent months held several rounds of talks with Turkey’s top diplomat Mevlut Cavusoglu, who last month became the first Turkish foreign minister to visit Cairo in more than a decade. The two sides have pledged to restore ties, and recent press reports have claimed that the ground is being laid for Turkish President Recep Tayyip Erdogan to visit Cairo later this year for a face-to-face meeting with President El Sisi.

#3- Saudi Arabia and Syria are well on the path to restoring tiesafter Syrian Foreign Minister Faisal Mekdad met his Saudi counterpart Prince Faisal bin Farhan Al Saud in Jeddah overnight. In ajoint statement issued in the early hours of this morning, the two ministers said they “welcomed the start of procedures for resuming consular services and flights” between their countries. Syrian state media also yesterday reported that the country will reopen its embassy in Tunisia. Reuters and APhave more.

#4- Syria could be on its way to reclaiming its seat in the Arab League: Arab foreign ministers will gather in Jeddah on Friday to discuss Syria’s return to the Arab League after 12 years in the cold, Reuters reports, citing a briefing by Qatar’s foreign ministry spokesperson Majed Al-Ansari to local media. The Saudi Arabia-hosted meeting will bring together the foreign ministers of Egypt, Jordan, Iraq, and the six Gulf Cooperation Council (GCC) countries. Syria was expelled from the Arab League in November 2011 after cracking down on pro-democracy protests.Egypt is among a number of Arab states looking to formally restore diplomatic ties with Damascus and end its pariah status in the region.

#5- Iran + Saudi Arabia prepare to reopen embassies as ties strengthen: An Iranian delegation traveled to Saudi Arabia yesterday to prepare to reopen its embassy in the kingdom, according to Iran’s official news agency. The visit builds upon their recent China-brokered agreement to restore diplomatic ties, and comes a few days after a Saudi delegation traveled to Tehran for similar talks.

HAPPENING TODAY-

The IMF / World Bank Spring Meetings continue in Washington, DC. The meetings wrap on Friday.

Cabinet members at the Spring Meetings: International Cooperation Minister Rania Al Mashat yesterday gave a speech to the Group of 24, where she called for more finance for developing and emerging markets amid the global economic and climate crises. Al Mashat reminded developed nations of their unfulfilled USD 100 bn pledge of climate finance to poorer countries. She also spoke with US climate envoy John Kerry about the outcomes of COP27 and the latest on the government’s Nexus on Water, Food and Energy (NWFE) program.

There’s no one BIG STORY ABROAD dominating the front pages of the international press this morning– but plenty of outlets are taking note of NPR’s decision to quit Twitter. The US-based public broadcaster said it would stop using Twitter after the company added a “state-affiliated” label to its account. Twitter moved to change the label to “government-funded media,” but that wasn’t enough for NPR, which argued the move calls into question its editorial independence.

Other public broadcasters have also been affected: Elon Musk said he would change the BBC’s label from “government funded” to “publicly funded” after the British media organization protested. (CNBC | Reuters| AP| Financial Times | BBC| Wall Street Journal)

The Enterprise Exports & FDI Forum, our latest industry-specific conference, is taking place on Monday, 15 May at Four Seasons, Nile Plaza. The Enterprise Exports & FDI Forum will give insiders and newcomers alike the chance to talk about how to develop an export-centered business and how their companies can help us build an export-led economy that makes us a magnet for foreign direct investment (FDI).

What’s the Enterprise Exports & FDI Forum? In the wake of successive floats of EGP, exports and FDI have never been more important to our economy — or our businesses. We’re gathering some of the CEOs, top execs from local companies and multinationals, investors, bankers and finance folks to speak on how businesses can adapt their strategies to be export-oriented and what we as a country can do to draw foreign investment and much-needed FX. Expect it to be heavy on lessons learned in Egypt and other global growth markets — and lots of success stories.You can learn more on our conference website here.

Some of the biggest names in business and finance are on board — are you? If you’re a C-suite exec, business owner, DFI staff, export executive, investor or banker, please fill out the form here to signal your interest, letting us know your name, title and where you work.

WANT TO BECOME A COMMERCIAL PARTNER? Ping a note to Moustafa, our head of commercial, here.

CIRCLE YOUR CALENDAR-

The House of Representatives is now on Eid break: MPs will reconvene on Sunday, 30 April.

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

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