Good morning, friends. There’s plenty of news about Egypt today, but not much of it is about business. Putting Egypt in the focus of the world’s press was Trump’s most recent alarm bell-ringing off-the-cuff remark, which saw him call for the ethnic cleansing and displacement of mns of Palestinians to “clear out” the enclave into Egypt and Jordan, sparking condemnation and concern in the region.

In less depressing and more business-orientated news that we’ve got in the issue today, the House greenlit bills shaking up and hopefully improving the way we tax businesses,insights into the outdoor advertising industry in 2024, and real estate investment firm Bonyan taking important steps towards its upcoming IPO.

CORRECTION- We incorrectly referred to Hassan Allam Properties as the real estate arm of Hassan Allam Holding in a story published in yesterday’s issue of EnterpriseAM Egypt. Hassan Allam Properties is a sister company of Hassan Allam Holding and has a separate legal entity and shareholding structure. The story has since been amended on our website.

PSA-

WEATHER- The sun is taking a break in Cairo today, with overcast skies, a high of 20°C, and a low of 12°C, according to our favorite weather app.

Alexandria is also in store for an overcast day, with a high of 21°C, a low of 11°C, and intermittent light showers.

It’s also another foggy start to the day for most parts of the country, so for all you leaving outside Upper Egypt and South Sinai, stay safe on the roads this morning, the Egyptian Meteorological Authority warned.

** DID YOU KNOW that we now cover Saudi Arabia and the UAE?

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ICYMI- Missed this week’s Inside Industry? In our weekly vertical exploring all things industry and manufacturing, we looked at where Egypt’s efforts to green its industrial sector stand. Check out the story here.

WATCH THIS SPACE-

French shipping line CMA CGM will continue to avoid the Suez Canal and use the Cape of Good Hope passage despite the ceasefire in Gaza, the company said on its website. The shipping giant sees the Gaza ceasefire as “a positive but fragile sign for the global shipping and logistics industry.” The Suez Canal Authority last week said it was expecting to receive a fleet of vessels from CMA CGM on Thursday, but that was a “single ad hoc call” as a representative of the French company told The Loadstar.

We dove into what the ceasefire in Gaza means for Suez Canal traffic in a story published last week.

HAPPENING THIS WEEK-

It’s interest rate week: The US Federal Reserve is set to meet for the first time this year for its two-day meeting tomorrow, with the GCC’s central banks awaiting its move before mirroring it (remember, most GCC currencies are pegged to the USD). The Fed is widely expected to keep interest rates steady, despite calls from US President Donald Trump to drop interest rates “immediately.”

CIRCLE YOUR CALENDAR-

The newly-formed Export Development Committee will meet for the first time next week to discuss its work scope and strategy, committee member Ayman Ashry told Al Borsa. The advisory group, formed with private sector participation, aims to improve communication between policymakers and private sector players to achieve the target of reaching USD 145 bn in exports a year by 2030.

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

THE BIG STORY ABROAD-

US President Donald Trump continues to make headlines with a fresh set of tariffs slapped on Colombia and calls for Gazans to settle in Egypt and Jordan to make way for a “clean-out” of Gaza.

Trump slapped a 25% tariff on all imports from Colombia — set to be raised to 50% in a week — along with a travel ban on Colombian government officials and financial sanctions after Colombia sent back two US military aircraft carrying deported migrants from the country. The deportation came as part of Trump’s sweeping crackdown on illegal immigration, which included a broad ban on asylum, since taking office. Colombia responded with its own 25% tariff on US imports. (Reuters | Bloomberg | WSJ | BBC)

In separate news, Trump called for Palestinians displaced from Gaza to be resettled in Jordan and Egypt either temporarily or permanently. Trump noted to reporters following a call with Jordan’s King Abdullah Saturday that he wanted both Jordan and Egypt to take in more displaced Palestinians, saying in reference to Gaza that “we should just clear out the whole thing.” The idea was rejected by Egypt, Jordan, the Palestinian authority, and many other nations and international bodies, which was followed by Trump officials later suggesting that Gazans would receive guarantees that they would eventually be allowed to return in a bid to downplay the original remarks. We’ve got more on this story in our Last Night’s Talk Show section below.

While over in Lebanon, Israeli forces opened fire on a group of protestors demanding their withdrawal in line with the agreed 60-day deadline as part of the ceasefire, killing at least 22 and injuring 124 people, AP reports. The White House later issued a statement that the deadline for Israeli troops’ withdrawal has been extended to 18 February, after Israel said it is waiting for the Lebanese army to deploy to all areas of South Lebanon to ensure that Hezbollah does not reestablish its presence there, despite statements from the army that it cannot deploy there unless Israeli troops withdraw.

*** It’s Blackboard day: We have our weekly look at the business of education in Egypt, from pre-K through the highest reaches of higher ed.

In today’s issue: We look at what Egypt is doing to push more international universities to set up shop in the country.

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