Good morning, friends, and a very happy Valentine’s Day. The news flow has slightly picked up this morning and we’re not expecting it to slow down again as we have not one, but two world leaders in town.

Need a last minute Valentine’s date idea? Check out the local spots featured on MENA’s 50 Best Restaurants.

  • Khufu’s snagged spot five on the list thanks to its “unparalleled location” overlooking the Giza Pyramids and lovely staff. The restaurant serves Egyptian cuisine with a twist and a wide selection of drinks.
  • Kazoku came in 12th. The upscale Japanese restaurant in New Cairo offers a wide variety of signature dishes, sushi, and drinks.
  • Sachi made it onto the list twice, with the Giza location at #15 and its Cairo branch at #33. The restaurant is known for its “fine comfort food” and intimate setting.
  • Izakaya made it to the 38th spot on the list. The Japanese Peruvian fusion restaurant in Palm Hills October offers “small plates and big flavors.”

And if you and your date prefer the simpler things in life:Zooba’s Zamalek branch also made the list. Zooba has become a staple among locals and foreigners alike for redefining Egyptian street food.

HAPPENING TODAY-

#1- Erdogan is in Cairo for the first time since 2012: Turkish President Recep Tayyip Erdogan said that Israel’s war on Gaza and the occupied Palestinian territories will top the agenda when he meets with President Abdel Fattah El Sisi today, Reuters reports. The two sides will also discuss economy, trade, tourism, energy, and defense, he added.

ICYMI- Erdogan was in Dubai yesterday for the World Governments Summit, where he met withUAE President Sheikh Mohamed bin Zayed

SPEAKING OF TURKEY- We now know more about its plans to set up an industrial zone in Egypt: Bursa Chamber of Commerce and Industry head joined Trade Minister Ahmed Samir for a meeting yesterday, where they discussed the Turkish plans to set up an industrial zone in Egypt. The industrial zone will focus on textile, automotive, aluminum, and machinery production, which will be exported to Europe, the US, Africa, and the Gulf, and will be similar to the industrial zone in Bursa.

#2- Brazilian President Luiz Inácio Lula da Silva kicks off his Africa tour in Egypt: The president of fellow Brics member Brazil is in Egypt for two days of meetings, according to a statement from the Brazilian president’s office. Although the statement did not provide details of the meetings, it highlights Egypt as one of its strongest trading partners in Africa and praises its role in repatriating its citizens from Gaza.

#3- The World Governments Summit wraps up: World leaders and decision makers are getting together one last time for the last day of the three-day World Governments Summit in Dubai.

Roundtables to watch out for today: It’s a quiet close for the summit, with several Egyptian officials partaking in roundtables on justice, education, and IT:

  • Justice Minister Omar Marwan will join his regional counterparts for a ministerial roundtable titled “ Digital Transformation in Judicial Services.”
  • CIT Minister Amr Talaat joins tech industry leaders including chip manufacturer Nvidia’s Jensen Huang and Meta Chief AI Scientist Yann LeCun for a roundtable discussing a future of responsible AI.
  • Advisor to the Education Minister Sherine Hamdy will join a roundtable dedicated to higher education.

** Check out the full agenda for the three-day summit here.

WORTH NOTING FROM DAY 2- Maait discusses future cooperation with AMF head: Finance Minister Mohamed Maait discussed joint cooperation with the Arab Monetary Fund (AMF) Chair Fahd Mohammed Al Turki on the sidelines of the summit, a statement said. Al Turki highlighted the fund’s readiness to provide Egypt with “technical expertise, train cadres, and raise human capabilities.” The meeting came as Egypt prepares to host the 15th Council Of Arab Finance Ministers in its new capital in May.

HAPPENING THIS WEEK-

You have until tomorrow to apply for the Chicago Booth Executive Program. The two-week program will kick off on 22 June and offer executives from the Egyptian public and private sectors the skills to help them “become better leaders for their organization and support Egypt’s growth in the years ahead.”

The Akhbar Al Youm Economic Conference is taking place on Saturday. Headlined “The Egyptian Economy … Challenges and Priorities,” it will be held at Al Masa Hotel Nasr City at 9am.

CIRCLE YOUR CALENDAR-

Ahlan Ramadan will open its doors soon: The government’s Ahlan Ramadan supermarket expo will start setting up shop at a minimum of three locations in every governorate by mid-February, Supply Minister Ali El Moselhy said in a statement. A large number of commodities will be sold at the expo — rice, sugar, tea, dates, oils, and lentils — to help people buy their Ramadan essentials before the holy month kicks off. Ramadan is expected to begin on Monday, 11 March.

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

WAR WATCH-

Still no breakthrough on a ceasefire agreement: Negotiations on a ceasefire agreement were left unresolved following the round of talks Cairo hosted yesterday, Reuters wrote. But mediators claimed to make “relatively significant” progress in the latest talks and are now focusing on “crafting a final draft” over a six-week ceasefire agreement, an unnamed Egyptian official said.

ICYMI- CIA head William Burns, Mossad chief David Barnea, Shin Bet head Ronen Bar, and Qatari Prime Minister Mohamed Bin Abdul Rahman Al Thani were in Cairo yesterday where they met with Egyptian officials for ceasefire and hostage negotiations. President Abdel Fattah El Sisi separately met with Burns and Qatar’s Prime Minister to review ceasefire efforts.

MEANWHILE- Many of the Gazans who sought refuge in Rafah — originally designated as a safe zone by the Israeli military — have begun to flee amid Israeli shelling and airstrikes this week, and in growing anticipation of a ground invasion, Reuters reported.

AND- EU foreign policy head Josep Borrell called on the US to cut weapon sales to Israel in response to a question about US President’s Biden’s comments last week that “the conduct of the response in the Gaza Strip has been over the top.” Meanwhile, A Dutch court has banned the sale of F-35 spare parts to Israel, upon ruling that there was “a clear risk” that the plane was being used for serious violations of international law in Gaza, writes the Financial Times.

THE BIG STORY ABROAD-

It’s crickets out there this morning, friends. Two US-centric stories dominate the business and mainstream press alike on both sides of the Atlantic:

  • Nato: Joe Biden is blasting Donald Trump for “un-American” suggestions that it would be just fine if Putin were to invade Nato allies that don’t pay their dues. A Trump national security advisor is doubling down on the idea: Don’t hit your defense spending target and Nato won’t ride to the rescue if you’re invaded, he said. The exclusive is leading the front page of Reuters.
  • US politics: The House of Representatives has impeached a cabinet member for thefirst time since 1876 in what pundits are calling a partisan vote. Don’t expect the Senate to follow suit.

AND- Saudi, Emirati and Qatari sovereign funds may be in talks to join the African Development Bank after Turkey became the first non-continental equity holder in the institution in December, Semafor reports.

FINALLY- It’s election day in Indonesia, where some 100 mn people are expected to cast ballots. Former defense minister Prabowo Subianto looks set to become the next president of Southeast Asia’s largest economy.

*** 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 speak to industry insiders to learn more about how developers are coping with unpredictable construction cost increases.

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