Good afternoon, ladies and gentlemen. We’re heading into the weekend on a somber note this afternoon:

IN MEMORIAM-

Please join all of us here at Enterprise in extending condolences to our good friend Dasha Badrawi and his family. Dasha’s father Alaa passed away in London this week after a long illness. A devoted husband of 64 years, he is survived by his beloved wife Azza and his three children, eight grandchildren and 4 great grandchildren.

Alaa Badrawi left Egypt as a young man, settling in London, where he earned his master’s from LSE before going on to a long and successful career as a banker, including service with BBME and HSBC London.

Alaa will be remembered most of all for his independence, dignity and old world attitude to life, treating everyone he came across with the same respect. Distinguished, charming and a true gentleman in every sense, he will be fondly remembered by many.

In lieu of flowers, consider making a donation in Alaa’s name: Alaa and his family support charities in Egypt and the UK, none more so than his friend Magdi Yacoub’s Chain of Hope.

Aza: Saturday, 24 February at El Shorta Mosque in Sheikh Zayed.

THE BIG STORY TODAY

Public, private companies mull a USD 380 mn JV to produce SAF:State-owned Egyptian Petrochemicals Holding Company (ECHEM) and Alexandria National Refining & Petrochemicals (ANRPC) are studying a new partnership with an unnamed local private-sector company to set up a sustainable aviation fuels (SAF) project that could cost USD 380 mn, Asharq Business reports, citing a government source.

The timeline: The potential partners should conclude the financial feasibility study by April, which will include USD 280 mn in debt from external lenders, the source said, adding that the project is expected to be initiated by the end of 2026.

Sound smart: SAF is a biofuel used to power airplanes made from non-petroleum feedstock such as waste oil and fats, and non-food crops. It can reduce carbon emissions by 80% on average compared to traditional jet fuel. Aviation is currently responsible for 2.5% of global carbon emissions, World Economic Forum figures show.

THE BIG STORY ABROAD

The international press is leading with a Chinese firm’s hacking operations.According to a file posted to Github, Chinese intelligence and military groups have been using several hacking contractors to collect sensitive data from over 20 nations, including the UK and mostly Asian countries, for the past eight years by targeting weak spots in Microsoft, Apple, and Google software. The firm behind the documents, I-Soon, had listed their targets, details of the extracted data, and how much control they took over the foreign systems. Already wary of China’s state-backed security breaches, the US will have to double down on cybersecurity, with tech giants constantly working on defenses against the hackers. (Washington Post | New York Times)

PSA- You can now apply to the Australian government’s master’s scholarship program, Australia Awards. The scholarship program, which grants funding for Egyptian, Sudanese, and Eritrean citizens to study climate change, agriculture and food security, mining and energy, foreign policy and international security, and gender, disability, and social inclusion, according to a statement (pdf). Applications are open until 30 April, 2024, and women, people with disabilities, and marginalized groups are encouraged to apply. You can find out more about the program here and apply here.

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☁️TOMORROW’S WEATHER- Expect a cloudy day with the mercury rising to a high of 21°C and dropping to a low of 12°C, according to our favorite weather app.

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