CURRENCIES-

Russian President Vladimir Putin has greenlit Egypt repaying its Dabaa nuclear power plant debt in RUB, RT Arabic reports, citing Russian Deputy Finance Minister Vladimir Kolychev. The decision follows an agreement between the two countries in September to switch to using Russia’s national currency because of difficulties in settling payments in other currencies.

REMEMBER- Rosatom was contracted in 2015 to handle the construction and provide fuel for Dabaa, Egypt’s first nuclear power plant. The company broke ground on the USD 28.8 bn project in the summer of 2022. Dabaa will include four 1.2-GW reactors and is set to come online at the beginning of the next decade.

LOGISTICS-

The Transport Ministry’s National Navigation Company has tapped Chinese shipbuilder Hangtong to build two 82k dwt newbuild dry bulk cargo ships, according to a Transport Ministry statement. Delivery is scheduled for September and November 2028.

The new order will bring the state-owned firm’s total fleet to 18 ships, in line with its goal to modernize 54% of its fleet. NNC’s plan is also part of the Transport and Industry Ministry’s larger bid to bolster the size of the state-owned fleet to 36 ships by 2030, according to the statement.

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