Hello all you wonderful people, and happy Tuesday. We have a busy issue for you today, so without further ado, let’s get into it.

THE BIG STORY TODAY

#1- Gov’t to host emergency Arab League summit on 4 March: Egypt will host the emergency Arab League summit to discuss Gaza’s reconstruction and unify the Arab stance against the displacement of Gazans on 4 March, after consulting with Bahraini officials and other Arab League member states, according to a Foreign Affairs Ministry statement. The summit had originally been scheduled for 27 February before being delayed.

#2- Dubai-based classifieds giant DubizzleGroup has acquired Egypt’s Hatla2ee, a digital marketplace for buying and selling cars online, according to statement (pdf). The move will see Dubizzle fold Hatla2ee’s platform into its operations in Egypt — which already include Dubizzle and Bayut — thereby expanding its footprint in the country’s fast-growing automotive market and digital classifieds scene.

What we don’t know: The financial terms of the take over and post-acquisition leadership lineup were not disclosed. The transaction is still subject to regulatory approvals.

A win-win for both sides: The agreement is set to boost Dubizzle’s reach in a market where online automotive sales are gaining traction, positioning it to compete with local and regional players. Hatla2ee CEO Samy Swellam said joining Dubizzle offers the company access to advanced technology and will allow it to expand its user base.

THE BIG STORY ABROAD

US and Russian officials met in Riyadh today to discuss ways to end the war in Ukraine, marking their first direct negotiations related to the conflict. The meeting followed Trump’s recent call with Vladimir Putin, which seemed to indicate that Trump would not ask Russia to cede a single inch of occupied Ukrainian territory.

Ukraine, absent from the talks, has voiced strong opposition: With Russian troops gradually advancing, Ukrainian President Volodymyr Zelensky warned that Kyiv would reject any outcome of meetings without its involvement. European allies are also watching closely, wary of any agreement reached without their input.

The negotiations involve a mismatched set of negotiators: The US delegation is led by three officials still in the first month of their roles — US Secretary of State Marco Rubio, US National Security Advisor Mike Waltz, and Trump’s Middle East envoy Steve Witkoff. They will meet with Russian diplomats, including Russian Foreign Minister Sergei Lavrov, who has held the position since 2004, and veteran Putin aide Yuri Ushakov.

The Russian side has been positively chipper ahead of the talks, with Kirill Dmitriev, head of Russia’s sovereign wealth fund, highlighting the importance of improved relations between Washington and Moscow. “Good US-Russia relations are very important for the whole world. Only jointly can Russia and the US address global problems, resolve conflicts, and offer solutions,” Dmitriev told the AP. (FT | Reuters | Bloomberg | AP)

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

  • Egypt to liquify and re-export Cypriot gas: The Oil Ministry yesterday inked twoagreements with Cyprus to liquify and re-export Cypriot natural gas on the sidelines of the first day of the Egypt Energy Show.
  • Another mega wind farm incoming: Saudi renewables giant Acwa Power is settingup a 2 GW wind farm in South Hurghada with investments of SAR 8.6 bn (c. USD 2.3 bn).
  • Organi Group, CSCEC eye USD 5 bn worth of contracts: Egypt’s Organi Group inked a strategic partnership with China State Construction Engineering Corporation to set up construction and infrastructure projects in Egypt and abroad.

☀️ TOMORROW’S WEATHER- We’re still seeing some warm-ish temperatures in Cairo with a high of 22°C and a low of 13°C by nightfall, according to our favorite weather app.

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