THIS EVENING: Second USD 5 bn coming in tomorrow from the UAE. PLUS: USD 520 mn arrives today from Icon buying seven historic hotels.

Good afternoon, folks and happy Thursday. Today we bid farewell to February and welcome March as the sun shines on and more greenback comes in.

THE BIG STORY TODAY

Egypt received USD 5 bn from UAE and is expected to receive another USD 5 bn tomorrowas part of the USD 35 bn Ras El Hekma investment, Prime Minister Moustafa Madbouly confirmed in a cabinet statement today.

More money rolls in: The government also received USD 520 mn today as part of the sale of seven historic hotels to Talaat Moustafa Group’s Icon, Madbouly added. Earlier this month, Icon finalized the acquisition of 51% stake in the hotels for USD 800 mn. The historic properties — now added under the umbrella of Legacy Hospitality — includes the Cairo Marriott Hotel in Zamalek, Marriott Mena House next to the Giza Pyramids, Steigenberger Hotel El Tahrir, Cairo, Steigenberger Cecil, Alexandria, Sofitel Legend Old Cataract, Aswan, Mövenpick Aswan, and Sofitel Winter Palace, Luxor.

THE BIG STORY ABROAD

The international press is reeling from Russian Premier Vladimir Putin’s threats to Western countries of nuclear war. The Russian leader warned that if Western countries sent in troops to Ukraine, as French President Emmanuel Macron suggested on Monday, he would reportedly retaliate with nuclear warfare, reports Reuters.

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

• Over USD 40 bn could be poured into green hydrogen projects: Egypt has inked seven MoUs with international and local companies to develop green hydrogen and renewable energy projects worth USD 41 bn in the Suez Canal Economic Zone over the next ten years.
• Maersk is stepping up its pursuit of Zafarana: Danish shipping giant Maersk has begun due diligence for the 545-MW Zafarana wind farm as it paves the way to submit a final offer to acquire half of the asset.
• China wants to establish a new industrial zone on the Mediterranean: Trade Minister Ahmed Samir spoke with his Chinese counterpart Wang Wentao about the establishment of a Chinese industrial zone on the Mediterranean Sea that would work to meet both the needs of the local market and export to American and European markets.

🌤️TOMORROW’S WEATHER- Expect a partly cloudy morning with the mercury climbing to 30°C at its peak in the day and dropping to a low of 16°C at night, according to our favorite weather app.