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THIS MORNING: Pax Silica Summit kicks off in the US with the UAE present + The Gulf is more involved in Paramount’s Warner Bros bid than meets the eye
Plus: Excise tax on sweetened beverages clarified
Orascom Construction board approves merger with OCI Global to form new Abu Dhabi-based infrastructure giant
Shareholders will vote on the merger in January
Egypt’s Palm Hills to invest over USD 3.8 bn in Saadiyat Shores project
The project will consist of three interconnected islands, including 620 villas and 1k apartments
ADQ secures indirect majority control of Egypt’s Alexandria Container & Cargo Handling Co
The group funded the acquisition through a mix of banknotes and debt
Adia considers selling down Ooreedoo stake
PLUS: DP World in talks to build dry port in Egypt
Arcius takes over Egypt’s Harmattan gas field
The company will take over all obligations and development rights for the field.
UAE, US boost AI ties in the energy space
Plus: Emaar eyes new mixed-development project in Egypt
THIS MORNING: Emirates NBD’s push in India could move ahead as Indian regulators mull raising foreign investment cap + Are Emirates NBD and FAB eyeing expansions in Egypt?
Plus: CBUAE drafts telemarketing regs for banks and financial institutions
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