Good morning, wonderful people. It’s day threeof Davos and we’ve finally got news of who will be jetting off to the World Economic Forum to represent us. International Cooperation Minister Rania Al Mashat will be our person on the inside and we’re eagerly awaiting news of sideline chats with international lenders, world leaders, and the like to bring to you.

In today’s issue, we’ve got a rundown of what to look out for today at Davos, Actis’ new owner and why this is important to Egypt, a loan to support our food and energy security, the latest on disruptions in the Red Sea, and plenty in between.

AND- Don’t forget, there is now an EnterpriseAM for the UAE: Think of it as the UAE analogue to your morning read in Egypt — your essential report on business, finance, the economy, and regulation in one of the world’s most vibrant and exciting economies. You can sign up to have the newsletter delivered fresh to your inbox here.

EnterpriseAM UAE is produced in the United Arab Emirates and in Egypt by the same team that brings you EnterpriseAM and EnterprisePM in Egypt as well as our MENA industry reports, Enterprise Climate and Enterprise Logistics.

** You can also stay tuned for the launch later this month of EnterpriseAM KSA. Tap or clickhere if you’d like to be added to our list for launch day.

HAPPENING TODAY-

Davos rolls into day three: Today’s headline events will likely be speeches from the US State Secretary Anthony Blinken and UN Secretary-General Antonio Guterres, but we’re more focussed on appearances from regional heavyweights that we think you should tune into.

We’re sending Rania Al Mashat to the frontlines of the conference: International Cooperation Minister Rania Al Mashat will be attending Davos “to participate in several discussion sessions to strengthen the framework of international cooperation and development financing for Egypt” a statement from the ministry said yesterday.

Rania’s got a busy schedule: On Thursday, the minister is set to participate in a session entitled Building Equitable Transitions: Green and Fair at 11:15am CLT and will later take part in MENA’s Economic Dilemma: Reforming amid Uncertainty alongside Saudi Planning Minister Faisal Al Ibrahim, Moroccan Finance MinisterNadia Fettah Alaoui, Hikma Pharma Chairman Mazen Darwazeh, Dubai Future Foundation CEO Khalfan Belhoul, DAMAC Chairman Hussain Sajwani, and others at 2:15pm CLT. The minister is also set to meet with regional and international private sector companies, including the UAE’s Majid Al Futtaim Holding to German firm Siemens and British lender Standard Chartered.

From the private sector: MNT Halan CEO Mounir Nakhla is in Davos as part of the WEF’s Innovator Forum and will speak on a Thursday panel on financial inclusion moderated by the Queen of the Netherlands.

From the region: Starting the day off will be a session on the direction of the Middle Eastconflict at 11:15am CLT, followed by a deep dive into everything UAE at 5:15pm CLT. Rounding out the focus on the region will be two sessions focusing on the creation of a sustainable MENA and women’s rights in Iran, both at 6:30pm CLT.

Fireside chats: Iranian Foreign Affairs Minister Hossein Amir Abdollahian will sit down with CNN journalist Fareed Zakaria at 2:30pm CLT, while the Palestine Investment Fund’s chair Mohammad Mustafa will be in conversation with World Economic Forum President Børge Brende at 3:45pm CLT.

** You can watch the live session here and check out the full program here.

WATCH THIS SPACE-

#1- EGX wants to overhaul its disclosure system: The Egyptian Exchange wants todigitize its disclosure system next year as part of a wider strategy to modernize the bourse and make it more tech savvy, according to its annual strategy report picked up by Al Borsa. Egypt for Information Dissemination — the sole aggregator and authorized distributor of EGX-listed companies’ information — is working to finalize an agreement with an international tech solutions provider that will launch the EGX’s new e-disclosure system that uses the eXtensible Business Reporting Language (XBRL).

XBRL? XBRL is a digital reporting language that facilitates the exchange of information between listed companies by unifying the language used in reports like financial statements, risk reports, and performance reports. The system aims to “improve the accountability and transparency of business performance globally,” Ayman Taha, the media advisor to the EGX’s chairman, told Enterprise. “This will make things easier both for us and for listed companies. Rather than each company sending documents in a different format or font for example, having a unified format will facilitate the exchange of information between companies,” Taha added

#2- More commodities to hit the EMX: The Egyptian Mercantile Exchange (EMX) plans to list 13 new commodities — spanning agricultural, oil derivatives, and food categories, Al Mal reports, quoting EMX chair Ibrahim Ashmawy, who did not provide a timeline. Ashmawy added that steel, aluminum, and petrochemicals are also in the EMX’s listing plans.

THE BIG STORY ABROAD-

THE BIG STORY ABROAD- The global business press is digesting Donald Trump’s landslide victory in the Iowa caucuses yesterday. He was always tipped to come out on top, but a much stronger than expected showing has pundits openly suggesting that his appeal has expanded beyond his base (at least in very white, very Republican midwestern states…) and that Nikki Haley and Ron Desantis are “running out of time” to stop him. (Financial Times | Wall Street Journal | Politico | Axios | Reuters)

Must-read on the topic:A wary world braces for Trump’s return to the White House, in Bloomberg.

IT’S A BIG DAY FOR: Tech nerds, as Samsung holds its Galaxy Unpacked event. Expect a new S24 line with new artificial intelligence capabilities to take center stage. Samsung faithful expecting a big redesign will be as disappointed as were iSheep this past fall with the, let’s say “extreme stability” of Apple’s iPhone design language.

Want more? You can check out Samsung’s Unpacked page or head over to its Youtubechannel when the event starts at 10pm UAE time tonight.

Speaking of Samsung: The company is no longer the world’s largest mobile phone maker. Apple, which already led the industry in terms of value, has overtaken Samsung by volume — the first time in a dozen years of heavy competition that the Cupertino company has edged out its Korean rival.

And speaking of Apple: The tech giant is going to let third-party apps in the United States link to their developer’s website to process payments for in-app purchases. While doing so would bypass Apple’s built-in payment system, it will still ask for a percentage of the sale, Bloomberg reports. Apple and Google face pressure from regulators around the world to open their app marketplaces to sideloading and third-party payment methods.

Curious about Apple’s Vision Pro? With the order and delivery window coming up (for readers in the United States only), you might want to head over to The Verge not just for a Samsung recap this evening, but for Victoria Song’s take on Vision Pro after getting to spend 30 minutes hands-on with it. Her take: “I know what I saw, but I’m still trying to figure out where this headset fits in real life.”

AND- Interim BP boss Murray Auchincloss will get the job permanently, the FinancialTimes reports. Expect an announcement later today.

WAR WATCH-

Qatari-French brokered agreement to get meds, aid to both vulnerable Gazans, Israeli hostages: Following weeks of negotiations, Qatar and France brokered an agreement between Hamas and Israel that would see medical and humanitarian aid delivered through the Rafah border crossing for 45 injured Israeli hostages held by Hamas in exchange for aid to be delivered to the most endangered civilians in Gaza, Reuters reports.

Saudi Arabia’s recognition of Israel would hinge on the establishment of a Palestinian state, Reuters reported yesterday, citing statements by Foreign Minister Faisal bin Farhan during a panel at the Word Economic Forum in Davos. “We agree that regional peace includes peace for Israel, but that could only happen through peace for the Palestinians through a Palestinian state,” he said.

MORNING MUST READ-

Latest US inflation data and geopolitical tensions should reinforce caution when it comes to monetary policy: While US inflation has been slowing down from its peak in 2022, the Fed should exercise caution in its policy as geopolitical tensions and disruptions to the Red Sea will impact the availability of goods and drive prices higher, placing pressure on the central bank’s inflation targets, Enterprise HQ fan favorite Mohamed El Erian writes in an opinion piece published by the Financial Times.

Don’t forget: Annual headline inflation in the US rose to 3.4% last month from 3.1% in November, surpassing economists’ expectations of 3.2%. Markets are anticipating that the Fed could start cutting rates as early as March.

CIRCLE YOUR CALENDAR-

Join the BEBA for breakfast: The British Egyptian Business Association (BEBA) willhost a breakfast briefing under the theme Cyber Security: How to Mitigate the Growing Digital Risks & Hazardsat the Conrad Cairo Hotel next Monday at 9:30am CLT. Sign up for the event here.

Cyber security is a hot topic right now: Last year saw unconfirmed reports alleging that twoEgyptian bluechip companies were hacked by LockBit — the world’s most successful ransomware gang — compromising personal and financial data. We have been unable to verify all of LockBit’s claims, but the hack suggests that LockBit has turned its sights on Egypt and other emerging markets — likely banking on companies here taking a less-sophisticated approach to cybersecurity.

One of those hits was on Fawry: We had a chat with Fawry CEO Ashraf Sabry, who explainedto us the nitty gritty of what happened and the steps the company is taking to prevent this from happening again.

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

*** It’s Hardhat day — your weekly briefing of all things infrastructure in Egypt: Enterprise’s industry vertical focuses each Wednesday on infrastructure, covering everything from energy, water, transportation, and urban development, as well as social infrastructure such as health and education.

In today’s issue: We take a look at the government’s ambitious export, transport, and aviation targets for President Abdel Fattah El Sisi’s third term.

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