{"id":616178,"date":"2024-02-29T00:00:00","date_gmt":"2024-02-29T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2024\/02\/29\/this-evening-second-usd-5-bn-coming-in-tomorrow-from-the-uae-plus-usd-520-mn-arrives-today-from-icon-buying-seven-historic-hotels\/"},"modified":"2024-02-29T00:00:00","modified_gmt":"2024-02-29T00:00:00","slug":"this-evening-second-usd-5-bn-coming-in-tomorrow-from-the-uae-plus-usd-520-mn-arrives-today-from-icon-buying-seven-historic-hotels","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2024\/02\/29\/this-evening-second-usd-5-bn-coming-in-tomorrow-from-the-uae-plus-usd-520-mn-arrives-today-from-icon-buying-seven-historic-hotels\/","title":{"rendered":"THIS EVENING: Second USD 5 bn coming in tomorrow from the UAE. PLUS: USD 520 mn arrives today from Icon buying seven historic hotels."},"content":{"rendered":"<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Good afternoon, folks and happy Thursday.<\/strong> Today we bid farewell to February and welcome March as the sun shines on and more greenback comes in. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>THE BIG STORY TODAY<\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Egypt received USD 5 bn from UAE and is expected to receive another USD 5 bn<\/strong><strong> tomorrow<\/strong>as part of the USD 35 bn Ras El Hekma investment, Prime Minister Moustafa Madbouly confirmed in a <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid0gz4e4jR9do5sCDMfcRF4Tg2GCPwdpSjDakzFuhgLezkuRZCP3DF1J7XGbfbFQjqCl\" style=\"\" rel=\"noopener\">cabinet statement<\/a> today.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>More money rolls in: <\/strong>The government also received USD 520 mn today as part of the sale of seven historic hotels to Talaat Moustafa Group\u2019s Icon, Madbouly added. <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/bebf4249-f687-4e82-9c1e-e0e920fe361a\" style=\"\" rel=\"noopener\">Earlier this month<\/a>, Icon finalized the acquisition of 51% stake in the hotels for USD 800 mn. The historic properties \u2014 now added under the umbrella of Legacy Hospitality \u2014 includes the <strong>Cairo Marriott Hotel <\/strong>in Zamalek, <strong>Marriott Mena House<\/strong> next to the Giza Pyramids, <strong>Steigenberger Hotel El Tahrir, <\/strong>Cairo, <strong>Steigenberger Cecil<\/strong>, Alexandria, <strong>Sofitel Legend Old Cataract,<\/strong> Aswan, <strong>M\u00f6venpick Aswan<\/strong>, and <strong>Sofitel Winter Palace,<\/strong> Luxor.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>THE BIG STORY ABROAD<\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The international press is reeling from Russian Premier Vladimir Putin\u2019s threats to <\/strong><strong>Western countries of nuclear war. <\/strong>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 <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/europe\/putin-warns-west-risk-nuclear-war-says-moscow-can-strike-western-targets-2024-02-29\/\" style=\"\" rel=\"noopener\">Reuters<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a href=\"https:\/\/enterprise.news\/egypt\/en\/user\/news-letters\" target=\"_blank\" rel=\"noopener\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/2\/1816.jpg?ssl=1\"\/><\/a> <\/p>\n<div class=\"row\">\n<div class=\"col-md-12 subscribe-box-panel\">\n<div class=\"\">\n<div class=\"title\">\n<h4 class=\"fw-lighter mb-10\">   Get <b style=\"font-weight: 700\">Enterprise<\/b> daily   <\/h4>\n<\/p><\/div>\n<p class=\"mb-10\">The roundup of news and trends that move your markets and shape corporate agendas delivered straight to your inbox.<\/p>\n<p>  <a target=\"_blank\" href=\"\/egypt\/en\/user\/NewsLetters\" type=\"button \" class=\"btn-green px-3 d-flex align-items-center\" rel=\"noopener\">Subscribe here<\/a>  <\/div>\n<\/p><\/div>\n<\/p><\/div>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>** CATCH UP QUICK<\/strong> on the top stories from today\u2019s <strong>EnterpriseAM:<\/strong><\/p>\n<ul>\n<li><strong>Over USD 40 bn could be poured into green hydrogen projects:<\/strong> Egypt has inked <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/6a033678-0ac6-4fac-b245-7d9b9e33cca8\" style=\"\" rel=\"noopener\">seven MoUs with international and local companies<\/a> to develop green hydrogen and renewable energy projects worth USD 41 bn in the Suez Canal Economic Zone over the next ten years.<\/li>\n<li><strong>Maersk is stepping up its pursuit of Zafarana:<\/strong> Danish shipping giant Maersk has <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/1d724eb5-69ad-4490-bab5-00a5b65d9a1f\" style=\"\" rel=\"noopener\">begun due diligence for the 545-MW Zafarana wind farm<\/a> as it paves the way to submit a final offer to acquire half of the asset.<\/li>\n<li><strong>China wants to establish a new industrial zone on the Mediterranean:<\/strong> Trade Minister Ahmed Samir spoke with his Chinese counterpart Wang Wentao about the <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/abe47b52-09b4-4c54-a774-0d77cac51293\" style=\"\" rel=\"noopener\">establishment of a Chinese industrial zone on the Mediterranean Sea<\/a> that would work to meet both the needs of the local market and export to American and European markets.<\/li>\n<\/ul>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>?\ufe0f<\/strong><strong>TOMORROW\u2019S WEATHER- <\/strong>Expect a partly cloudy morning with the mercury climbing to 30\u00b0C at its peak in the day and dropping to a low of 16\u00b0C at night, according to our favorite weather app. <\/p>\n","protected":false},"excerpt":{"rendered":"<p>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 [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[7213],"tags":[633,8423,7388,634],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-616178","post","type-post","status-publish","format-standard","hentry","category-what-were-tracking-tonight","tag-enterprisepm","tag-icon","tag-ras-el-hekma","tag-what-were-tracking-tonight","wpautop","entry"],"acf":{"mongo_id":"6b1eb387-12d6-467e-99fb-cacc0ff0ae3b","is_powered_by":false,"story_type":"4","photo_url":"","photo_position":"above","homepage_title":"","full_issue_title":"","related_issue":[616176],"teaser":"","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/2\/.f496588d-0b32-47e5-998d-0454e54519dd.mp3"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>THIS EVENING: Second USD 5 bn coming in tomorrow from the UAE. 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&quot;Economy&quot;","block_context":{"text":"Economy","link":"https:\/\/enterpriseam.com\/egypt\/category\/economy\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2024\/2\/98.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":619982,"url":"https:\/\/enterpriseam.com\/egypt\/2024\/05\/14\/second-usd-20-bn-tranche-of-ras-el-hekma-funds-land-in-state-coffers\/","url_meta":{"origin":616178,"position":2},"title":"Second USD 20 bn tranche of Ras El Hekma funds land in state coffers","author":"enterpriseam admin","date":"14 May 2024","format":false,"excerpt":"The tranche consists of USD 14 bn fresh inflows and USD 6 bn in the form of a previous UAE deposit at the central bank","rel":"","context":"In &quot;Investment Watch&quot;","block_context":{"text":"Investment 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We hope this Friday treats you well. We are counting down the days until Ramadan begins.What would Ramadan be without the spirit of giving? 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