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Banque Misr backs the country’s first onshore private investment in public equity fund. PLUS: Arab Contractors + CSCEC, Oriental Industrial Projects
Its other backers include E-finance, CIB, Suez Canal Bank, Misr Life Ins., and Midbank
Chevron makes its Red Sea exit official. PLUS: Saudi Gold Refinery, Raya Holding, Ora Developers, Microsoft
Chevron said its resources will instead go towards its interests in Egypt’s Mediterranean
Chevron reportedly exits Red Sea’s last active exploration block. PLUS: Somabay, Marakez + Azza Fahmy, Orascom Development
The government is pushing back, citing strong fundamentals for a relaunch
Suez Canal Ports Company in the running for EGP 4 bn Taba Port development project. PLUS: Marco Group, Madinet Masr
The port is slated to give local exports access to new markets at lower costs
Gov’t pledges to settle cotton farmer dues before the end of the month. PLUS: National Authority of Tunnels, Macro Group + CHI Consumer Healthcare Investments + Enverson International
Farmers are still waiting to be paid for some 480k qintars purchased at the end of the last marketing season
Arla puts Domty acquisition bid on ice pending demerger clarity. PLUS: NAS Investment Holding + EgyFert, Eni, Cheiron Energy, Post for Investment, Neric, G3A
Domty plans to re-engage a potential offer for the spun-off dairy business — assuming due diligence checks out
US’ Progress Rail inks USD 235 mn worth of modernization, spare part, technical support agreements. PLUS: CMA CGM, Emarat Misr
The agreement includes the refurbishment of 100 diesel-electric locomotives
Official opening of Saxony Egypt University sees raft of MoUs inked with German partners. PLUS: K&K Group + EETC, Ades Holding, Bank NXT, Domty, Intro Group + Advec
The university is the largest private technological university in the greater Cairo region
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