FINANCE & ECONOMY

05 Oct 2017

SDX Energy unearths new oil discovery with Egypt well

SDX Energy Inc (LON:SDX, CVE:SDX) has announced a new oil discovery in Egypt, with the Rabul-2 well unearthing heavy crude in the West Gharib concession. Rabul-2 hit some 101.5 feet of net oil pay across the Yusr and Bakr formations, and the company expects the well will be completed as a new producer connected to processing facilities at the Meseda field. It marks the final commitment well for West Gharib, following up the Rabul-1 well which in the summer hit 14.5 feet of heavy oil pay in the Yusr before being competed as a producer.......

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05 Oct 2017

North Korean Arms Entering Egypt: The System at Work

On October 1, 2017, reports emerged of an odd interdiction of North Korean arms in August 2016. Acting on a tip from Washington, Egyptian customs officials boarded the Jie Shun, a bulk freighter sailing under the Cambodian flag, as it passed through the Suez Canal. Manned by a North Korean crew and originating from North Korea, the ship carried more than 30,000 rocket-propelled grenades, worth an estimated $23 million. As it turns out, Egyptian businessman were buying grenades on behalf of the Egyptian military, even as Egypt is a major recipient of U.S. aid. Unnamed U.S. officials claimed that this North Korean arms shipment contributed to......

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05 Oct 2017

Uber opens regional customer service centre in Egypt next Tuesday

Uber Egypt will open, next Tuesday, a new regional customer service centre service that will serve its drivers and customers in the Middle East and Egypt. The opening ceremony will be attended by Pierre Dimitri, Uber’s Vice President and Head of Operations of Europe, Middle East,"...

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05 Oct 2017

Daltex expects sales of EGP 1.05bn by end of 2017

Wadi Agricultural Development and Land Reclamation Company – Daltex expected its sales to reach EGP 1.05bn by the end of this year, compared to about EGP 900m in last year, benefiting from the increase in export revenues.

Hisham"...

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05 Oct 2017

Euler Hermes praises Egypt's ability to pay external debts

Egypt's external debt repayments were made even more comfortable, as the import cover of foreign reserves recovered to pre-crisis levels, Euler Hermes said on Tuesday.

In an economic research, a copy of which"...

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05 Oct 2017

Green fund approves $31.4 m UNDP project to protect Egypt's Delta

The Green Climate Fund (GCF) approved on Sunday a $31.4 million United Nations Development Programme (UNDP) project to protect Egypt's Nile Delta from rising sea levels due to climate change, the UNDP said in a press statement.

The"...

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05 Oct 2017

Wrangling about 20% tariffs on raw sugar imports continues unabated

Another round of wrangling surfaced between state-owned sugar producers and the Saudi Savola on the contentious issue of enforcing 20% tariffs requested by the former on imports of raw sugar.

The state-owned producers reliant on locally made raw sugar are worried about re-living"...

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05 Oct 2017

SES Selects Arianespace for Launch of SES-17

(AETOS Wire) -- SES has selected Arianespace to launch its high-power, high-throughput satellite SES-17 on an Ariane 5 in 2021 from the Guiana Space Center in Kourou, French Guiana. This was announced by SES and Arianespace in Paris today. SES-17"...

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05 Oct 2017

Is Wanderlust in Our DNA? Curio Collection by Hilton Launches The Curious Gene Program

(AETOS Wire)-- Are you born curious? This fall, Curio Collection by Hilton™ – one of Hilton’s (NYSE: HLT) 14 market-leading brands – is helping travelers find out by digging into their love of exploration. Through consumer research, the brand discovered that people are seeking unique experiences as an integral aspect of their travel. With that insight, and with curiosity at the core of the brand name, Curio Collection turned to science to sponsor the DNA testing of approximately 30 avid travelers who love sharing their journeys with their social media followers. The goal was to determine if they have the DRD4-7R gene,......

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05 Oct 2017

The Coca-Cola Company and AB InBev Complete Transition of Majority Ownership in Coca-Cola Beverages Africa

(AETOS Wire)-- The Coca-Cola Company (NYSE: KO) and Anheuser-Busch InBev (AB InBev) (Euronext: ABI) (NYSE: BUD) (MEXBOL: ANB) (JSE: ANH) announced today that they have completed the transition of AB InBev’s majority interest in Coca-Cola Beverages"...

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