{"id":552751,"date":"2022-09-27T13:23:42","date_gmt":"2022-09-27T13:23:42","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2022\/09\/27\/this-evening-sovereign-fund-of-egypt-wants-to-take-nspo-companies-public-by-year-end-three-gas-leaks-in-russias-nord-stream-pipelines\/"},"modified":"2022-09-27T13:23:42","modified_gmt":"2022-09-27T13:23:42","slug":"this-evening-sovereign-fund-of-egypt-wants-to-take-nspo-companies-public-by-year-end-three-gas-leaks-in-russias-nord-stream-pipelines","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2022\/09\/27\/this-evening-sovereign-fund-of-egypt-wants-to-take-nspo-companies-public-by-year-end-three-gas-leaks-in-russias-nord-stream-pipelines\/","title":{"rendered":"THIS EVENING: Sovereign Fund of Egypt wants to take NSPO companies public by year-end + Three gas leaks in Russia\u2019s Nord Stream pipelines"},"content":{"rendered":"

Happy hump day, friends.<\/strong> It\u2019s by no means a slow news day here in Omm El Donia, with a handful of interesting stories happening on the home front.<\/p>\n

THE BIG STORIES TODAY<\/strong><\/p>\n

<\/a> The government wants to remove barriers to industrial development within<\/strong> a month or two,<\/strong> President Abdel Fattah El Sisi said today during the inauguration of several national projects linked to the General Authority for Investment and Freezones (watch, runtime 8:37<\/a>). The state is looking to address and resolve issues that stand in the way of investors so that administrative procedures are fast and efficient for investors and industrialists who are looking to enter the Egyptian market, he added.<\/p>\n

Wataniya + Safi hitting the EGX before the year is out?<\/strong> The Sovereign Fund of Egypt is looking to take military-owned filling station Wataniya and bottled water maker Safi public on the EGX by the end of the year, according to a cabinet statement<\/a>. The two National Service Products Organization companies are currently being restructured ahead of their IPO.<\/p>\n

THE BIG STORY ABROAD<\/strong><\/p>\n

A couple of stories are vying for attention in the international business press this afternoon:<\/strong><\/p>\n

<\/a> #1- Three gas leaks from the Russian-owned Nord Stream 1 and 2 pipelines were<\/strong> discovered in Swedish and Danish waters<\/strong>, raising concerns about further Russian supply shortages. The company said in a statement<\/a> it was \u201cinvestigating\u201d the reason behind the pressure drop that caused the leaks, while European countries are looking into potential sabotage. \u201cThe incident is not expected to have consequences for the security of Danish gas supply,\u201d the Danish energy ministry said in a statement<\/a>. The Nord Stream 2 pipeline is pumped full of gas despite its operations getting halted due to Russia\u2019s invasion of Ukraine, while the Nord Stream 1 pipeline has been out of service for weeks for maintenance work. (Financial Times<\/a> | CNBC<\/a> | Bloomberg<\/a> | Reuters<\/a>)<\/p>\n

European natural gas futures shot up 6.4% in trading early this morning on the news<\/strong>, after dropping to a two-month low earlier this week, Bloomberg<\/a> reported.<\/p>\n

#2- Japan held a state funeral for former Prime Minister Shinzo<\/strong>, provoking angry demonstrations in Tokyo over his legacy of close ties with the ultra conservative Unification Church. Abe was assassinated in July at a political campaign event. (<\/strong>Reuters<\/a> | the Associated Press<\/a> | The New York Times<\/a> | the Guardian<\/a> | The Wall Street Journal<\/a>)<\/p>\n

HAPPENING NOW-<\/strong><\/p>\n

Our friends at HSBC are hosting an energy transition webinar series today through<\/strong> Thursday<\/strong> (27-29 September). The series will look at the \u201clatest climate analysis in relation to the global energy market and transition to net zero\u201d in six different sessions covering energy security, what is required to ensure the success of COP27, financing and investment needs for the energy transition, and the scaling up of renewables in the region, among other topics. You can register for the series here<\/a>.<\/p>\n

A Spanish business delegation is in town today and tomorrow<\/strong> for the Egypt-Spain Multilateral Partnership Forum, organized by the Spanish Institute for Export and Investment, according to a press release (pdf)<\/a>. The two-day conference will include seminars and panel discussions on trade and investment in transport, energy, and water with Egyptian ministers and representatives from government bodies, alongside officials from international financing institutions and Spanish Secretary of State for Trade Xiana M\u00e9ndez B\u00e9rtolo. The agenda for the conference is available here (pdf)<\/a>.<\/p>\n

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** CATCH UP QUICK<\/strong> on the top stories from today\u2019s EnterpriseAM<\/strong>:<\/p>\n