THIS EVENING: Gov’t is not selling Ras El Hekma land for USD 22 bn

Good afternoon, friends, and happy Thursday. The weekend is finally here, but we’ll keep our phones close, as we are still waiting for the outcome of the Central Bank of Egypt’s monetary policy meeting later this evening.

THE BIG STORY TODAY

No, we are not getting USD 22 bn for Ras El Hekma: Two government and industry sources Enterprise spoke with denied media reports and social media rumors alleging that the Egyptian government and Emirati investors are closing in on an agreement to sell a huge piece of land in North Coast’s Ras El Hekma. The rumors, which have been circulating across the country since yesterday, claimed we will get USD 22 bn in exchange for the land, with a good chunk of it to be paid upfront to help end our FX woes.

THE BIG STORY ABROAD

Ukraine receiving a EUR 50 bn aid package from the EU is leading the conversation in the international press this afternoon. In an emergency EU summit, Hungarian PM Viktor Orbán rescinded his December veto after the bloc’s leaders — who are worried about the continent’s stability — threatened Hungary’s voting rights and funds. (Financial Times | Wall Street Journal | CNBC)

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

• Goldman, Pictet are upbeat about Egypt’s USD bonds: Egypt’s USD-denominated bonds are being touted by Goldman Sachs and Pictet Asset Management as they brush away concerns about defaulting and low credit rating.
• IMF is out with its latest Regional Economic Outlook (pdf)for the Middle East and North Africa, giving us a regional deep dive into its headline growth projections it released a day earlier in its World Economic Outlook (pdf).
• Erdogan is coming to town: Turkish President Reccep Tayyip Erdogan is reportedly coming to Egypt on 14 February to meet with President Abdel Fattah El Sisi, Bloomberg reported yesterday, citing Turkish officials it says are familiar with the matter.

HELP GAZA-

Want to support relief efforts in Gaza, but don’t know how? We’ve got you. More than 1 mn people in Gaza have been thrown from their homes and every human being there lacks access to food, water, and fuel amid the most intense bombardment any population has endured this century.

The folks at Talabat are processing donations for a range of Gaza relief appeals by charities including the Egyptian Food Bank and Misr El Kheir. Pay in EGP using your credit card.

Or check out our list of charities to which you can make direct donations via bank deposit and / or Fawry.

? CIRCLE YOUR CALENDAR-

Thinking of studying abroad? The New Zealand government is offering a full scholarship for postgraduate degrees in food security and agriculture, climate change and the environment, renewable energy, and good governance. The application closes on 29 February and you can find it here.

?️ TOMORROW’S WEATHER- Look out for another cloudy day in the capital city with a high of 17°C before dropping down to a low of 12°C, according to our favorite weather app.