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Egypt desperately needs the proceeds from privatisation after a series of economic shocks. STAKE SALE DRIVEEgypt set a target in 2022 of raising $10 billion annually over four years through private investment in state assets. Egypt has established its own sovereign fund to bring in private investors to develop state assets, but the move appears designed to attract capital without relinquishing control, said Sayigh. "They want others to help the state with its financial burden, but it's still the state that determines priorities and investments," he said. MILITARY TAX BREAKSFuture asset sales will be complicated by an expansion under Sisi of the military's often opaque economic role, analysts say.

☆ Nord Stream mystery: the tanker Minerva Julie spent 7 days idling near the attack site
▼ + stars: | 2023-03-10 | by ( Mattathias Schwartz | ) www.businessinsider.com time to read: +8 min

Days before the explosions, a tanker called the Minerva Julie was drifting nearby in the Baltic Sea. He discovered that the Minerva Julie, a 600-foot Greek-flagged tanker, was headed east from Rotterdam when, on September 6, it came to an abrupt stop in the middle of the Baltic Sea. From September 6 through September 13, the Minerva Julie drifted near the site of the September 26 explosions, AIS data show. The Minerva Julie stayed there, alternately idling and crossing a roughly 200-square-nautical-mile area above the two natural-gas pipelines, for seven days, from September 6 until September 12. The Minerva Julie, a 600-foot oil and chemical tanker, near the port of Rotterdam in 2020.

☆ Egypt's Suez Canal tugboats working to move stranded container ship, other shipping not blocked
▼ + stars: | 2023-03-05 | by ( ) www.reuters.com time to read: +1 min

March 5 (Reuters) - Four Suez Canal tugboats were working to move a stranded container ship after it broke down in the waterway on Sunday, but the vessel was not blocking other shipping, the Canal Authority said. A fifth tugboat was on its way to take part in the re-floating efforts, he added. "All the ships that are coming from the north have normally passed and navigation from the south also proceeded normally after the ships were diverted from the western channel to the eastern channel," Safwat said. Eikon shipping data showed the vessel as having run aground at about 1600 GMT on Sunday. Reporting by Yusri Mohamed Writing by Hatem Maher Editing by Hugh Lawson and Frances KerryOur Standards: The Thomson Reuters Trust Principles.

☆ How deep are Egypt's economic troubles?
▼ + stars: | 2023-03-03 | by ( ) www.reuters.com time to read: +5 min

CAIRO, March 3 (Reuters) - Egypt's economy has come under severe pressure over the past year, with the Egyptian pound tumbling, foreign currency drying up, and inflation soaring. As many as 60% of Egypt's 104 million citizens are estimated to be below, or close to the poverty line. IS EGYPT'S DEBT SUSTAINABLE? Egypt's debt burden has been climbing, though analysts differ over how much of a risk this presents. Substantial principle and interest payments on foreign debt contribute to a large external financing gap - the difference between supply of and demand for foreign currency financing.

☆ French court to rule on landmark TotalEnergies Uganda case
▼ + stars: | 2023-02-27 | by ( America Hernandez | ) www.reuters.com time to read: +3 min

PARIS, Feb 27 (Reuters) - A French court on Tuesday could order oil major TotalEnergies (TTEF.PA) to halt the development of an east Africa pipeline in a landmark case based on legislation that makes big companies liable for risks to the environment and human rights. TotalEnergies has argued that its vigilance, compensation and relocalisation plans are fair and legal, and that a French court does not have the power to control the overseas activities of its subsidiary TotalEnergies EP Uganda. The non-governmental organisations behind the suit seek an emergency suspension of TotalEnergies' east Africa projects until financial compensation has been paid to those they say have been harmed as a result of those plans. In a statement to Reuters on Monday, TotalEnergies said its vigilance plan had been implemented effectively in the projects under scrutiny. Reporting by America Hernandez, Editing by Silvia Aloisi and Aurora EllisOur Standards: The Thomson Reuters Trust Principles.

Rather than being driven by concerns over the potential loss of Russian shipments of diesel, the market in Asia appears more reflective of ongoing strength in diesel exports from China and India. China is expected to export about 2.4 million tonnes of diesel in February, equivalent to about 643,000 barrels per day (bpd), according to data compiled by Refinitiv Oil Research. This would be up from January shipments of around 1.78 million tonnes and 2.32 million in December. Almost 88% of India's February diesel exports are heading West of Suez as refiners on the country's west coast take advantage of the gap left by Russian diesel exiting Europe. It also appears that Russia is still able to find buyers for its diesel, despite losing its biggest market as Europe used to buy about 500,000 bpd of Russian diesel prior to the war in Ukraine.

☆ Investing in Space: Picture day
▼ + stars: | 2023-02-02 | by ( Michael Sheetz | ) www.cnbc.com time to read: +2 min

CNBC's Investing in Space newsletter offers a view into the business of space exploration and privatization, delivered straight to your inbox. Recently the spotlight turned to an increasingly lucrative sector of the space industry — satellite imagery — thanks to space-focused research and investment firm Quilty Analytics. The market for space pictures matured in the past decade, with expanded use in conflict hot spots, infrastructure and supply chains, to name a few. I chatted this week with Quilty's Director of Research Caleb Henry, who authored a report for the firm on "Very High Resolution" imagery. Satellite imagery "struggled to prove itself for years" as a sector in the space industry, Henry said.

☆ India's Adani says to keep investing in Israel after Haifa port takeover
▼ + stars: | 2023-01-31 | by ( ) www.reuters.com time to read: +2 min

[1/5] Israel Prime Minister Benjamin Netanyahu attends an inauguration ceremony after the Adani Group completed the purchase of Haifa Port earlier in January 2023, in Haifa port, Israel January 31, 2023. REUTERS/Amir CohenHAIFA, Israel, Jan 31 (Reuters) - Indian magnate Gautam Adani said on Tuesday he would keep investing in Israel after his group took over one of the country's main ports. Adani spoke at a ceremony in Haifa welcoming Adani Ports (APSE.NS) and local chemicals and logistics group Gadot - the partners who purchased the port for 4 billion shekels ($1.15 billion). Adani joins China's Shanghai International Port Group (SIPG), which opened in 2021 new piers across the bay in Haifa. "We are talking to our Arab neighbours, after the historical Abraham Accords, about connecting the rail links of Saudi Arabia through Jordan to Haifa port," Netanyahu said.

☆ This former couple says splitting up saved their pizza company. Here's why they and others found running a business with your ex doesn't have to be a nightmare.
▼ + stars: | 2023-01-29 | by ( Stephanie Stacey | ) www.businessinsider.com time to read: +6 min

He's glad to have salvaged — and even improved — his professional relationship with Chen. Price, 48, and Sebastiani, 56, launched Blue Oak Coffee Roasting in Bakersfield, California, in 2015. That idea turned out to be popular — and Blue Oak grew into a full-time business. But launching Blue Oak ultimately helped Price and Sebastiani make their relationship more harmonious. Blue Oak Coffee RoastingThe business also offered a powerful imperative for the ex-couple to overcome their communication challenges, since their livelihoods depended on their ability to cooperate.

Russian crude export volumes have held up since Moscow's Feb. 24 invasion of Ukraine, but only because China and India have stepped in to buy steeply discounted Russian oil. But while China's crude imports have been rising, a greater share appears to have been captured by Russia. If imports from Russia are excluded, it shows that June imports were 6.97 million bpd and November's were 9.52 million bpd. The increase for imports from all sources in November over June was 2.67 million bpd, but the total ex-Russia was 2.55 million bpd. This raises the possibility that Russia's share of China's crude imports will rise even higher.

☆ Davos 2023: India's ReNew Power exploring Egypt green hydrogen project
▼ + stars: | 2023-01-16 | by ( Maha El Dahan | ) www.reuters.com time to read: +3 min

ReNew Power is now studying green hydrogen opportunities, specifically in Egypt, having signed a framework agreement during the COP27 climate conference last year, Sumant Sinha told Reuters in Davos at the World Economic Forum. The plant would be located around 200 kilometres south of the capital Cairo and the green hydrogen would be shipped through the Suez canal. India also has plans to produce 5 million tonnes of green hydrogen by 2030, which ReNew Power wants to be a part of. "India has very good natural resources also and we can ship out of India just like we can out of Egypt." "One of the big reasons why there is so much volatility in the capital markets especially for clean tech stocks is because interest rates are going up," he said.

☆ Traffic in Suez Canal normal after ship breakdown dealt with- SCA
▼ + stars: | 2023-01-09 | by ( ) www.reuters.com time to read: +2 min

[1/2] An aerial view of the Gulf of Suez and the Suez Canal are pictured through the window of an airplane on a flight between Cairo and Doha, Egypt, November 27, 2021. REUTERS/Amr Abdallah DalshCAIRO, Jan 9 (Reuters) - Shipping traffic in the Suez Canal was proceeding normally on Monday after tugs towed a cargo vessel that broke down during its passage through the waterway, the Canal Authority said. The M/V Glory, which was sailing to China, suffered a technical fault when it was 38km into its passage southward through the canal, before being towed by four tugs to a repair area, the Suez Canal Authority (SCA) said in a statement. The Suez Canal is one of the world's busiest waterways and the shortest shipping route between Europe and Asia. In 2021, a huge container ship, the Ever Given, became stuck in high winds across a southern section of the canal, blocking traffic for six days before it could be dislodged.

☆ Efforts under way to refloat ship stuck in Suez Canal, authority says
▼ + stars: | 2023-01-09 | by ( ) www.reuters.com time to read: +1 min

DUBAI, Jan 9 (Reuters) - Efforts are under way to refloat a cargo vessel carrying grain from Ukraine that has run aground in the Suez Canal, the chairman of the Suez Canal Authority told Al-Arabiya TV on Monday. The M/V Glory ran aground while joining the southbound convoy transiting through the canal and tug boats are trying to refloat the vessel, Osama Rabie told Al-Arabiya. The ship is a Marshall Islands-flagged bulk carrier, data from trackers VesselFinder and MarineTraffic showed. It departed Ukraine's Chornomorsk port on Dec. 25 bound for China with 65,970 metric tonnes of corn, according to the Istanbul-based Joint Coordination Centre (JCC) overseeing Ukraine grain exports. The Suez Canal is one of the world’s busiest waterways and the shortest shipping route between Europe and Asia.

Bulk carrier Glory ran aground in the Suez Canal on Monday morning, according to shipping agency Leth, which said efforts to refloat the vessel were underway. An employee of the Suez Canal Authority, who could not be named as the news had not been officially announced, told CNBC that other ships in the canal were still able to pass the grounded Glory by around 7:30 a.m. London time. Arabic news channel Al-Arabiya cited Osama Rabie, chairman of the Suez Canal Authority, as saying that the ship had run aground but was being floated, according to a Google translation. The Suez Canal is one of the world's most important waterways, with its 120 miles hosting 30% of global shipping container traffic and 12% of all global trade worth about $1 trillion annually. In March 2021, a massive 220,000-ton tanker called Ever Given got stuck across the Suez Canal for six days, causing its longest-ever closure due to a ship and holding up some $60 billion of trade."

[1/2] An aerial view shows a storage facility owned by Lukoil company at the Arctic port of Varandei October 22, 2013. Arctic crude exports to India have steadily increased since May, with a record 6.67 million barrels loaded in November and 4.1 million barrels in December, Refinitiv data showed. At least three oil tankers that loaded Arctic crude in Murmansk port are now heading to China, Refinitiv data showed. Refinitiv listed the grades carried by these ships as Arco crude although one Chinese trader said there could be Varandey crude onboard. Oil tankers, carrying Russian Arctic crude, are passing Europe and the Middle East to head to China and IndiaReporting by Nidhi Verma in New Delhi, Muyu Xu and Florence Tan in Singapore; Editing by Jacqueline WongOur Standards: The Thomson Reuters Trust Principles.

☆ New threats will corrode infrastructure M&A
▼ + stars: | 2022-12-30 | by ( Lisa Jucca | ) www.reuters.com time to read: +4 min

Private equity infrastructure funds attracted $121 billion globally in 2021, nearly 60% more than in 2017, according to data from PitchBook. The rising cost of insuring against cyberattacks will also dull the appeal of telecoms networks and power grids. The urge to make the world a cleaner place means building and upgrading power infrastructure in both developed and developing countries. Pressure to establish energy security at home also means governments will want to own key infrastructure assets, regardless of the financial incentives. If private investors conclude some infrastructure assets have lost their appeal, states will step in.

☆ Fact Check-Images of planes, ships captured from low orbit do exist
▼ + stars: | 2022-12-23 | by ( Reuters Fact Check | ) www.reuters.com time to read: +5 min

Contrary to a claim on social media, images taken from spacecraft in Low Earth Orbit (LEO) of planes flying by or ships at sea do exist. At least one photo of a flying plane taken from a spacecraft in LEO illustrates the problem. The image is credited to SkySat, a constellation of 21 satellites owned by Planet (here), all of which orbit at between 400 and 600 kilometers (250 to 370 miles) above Earth. More images of the container ship in the Suez Canal taken from Leo can be seen (here). Images of planes in flight, ships and cities captured from spacecraft in Low Earth Orbit do exist.

☆ The US doesn't have to worry about China repeating its mistakes in the Middle East
▼ + stars: | 2022-12-20 | by ( Natalie Armbruster | Defense Priorities | ) www.businessinsider.com time to read: +6 min

It was seen as a message to the US, but it's a mistake to think China has the same ambitions in the Middle East as the US. China has long assessed US involvement in the Middle East to be damaging to American power and strength. The first thing to know is China's involvement in the Middle East rests primarily on its energy dependence. Taking sides among adversaries in the Middle East would only limit China's trading partners and opportunities for mutual economic interest. The reality is that no matter China's view of the Middle East, the potential benefits that China could garner from its investments in the Middle East are not significant nor threatening enough to US interests to warrant the current level of worry.

☆ Analysts love these 3 renewable energy stocks that could see more than 50% upside
▼ + stars: | 2022-12-19 | by ( Ganesh Rao | ) www.cnbc.com time to read: +3 min

Renewable energy expansion is predicted to grow exponentially over the next five years, according to the International Energy Agency. Suppose 3,891 gigawatts of renewable energy production capacity are installed over this period, as IEA predicted earlier this month . Wind energy stocks Hong Kong-listed China Longyuan Power offers the biggest upside potential to investors among the stocks screened. Renew Energy Global is a Nasdaq-listed company that primarily builds and operates solar and wind energy projects in India. Solar energy stocks The table below lists stocks that are part of the Global X Solar ETF.

☆ Oil drops by over $2 per barrel, bogged down by recession fears
▼ + stars: | 2022-12-16 | by ( ) www.cnbc.com time to read: +2 min

Brent crude futures fell by $2.17, or 2.7% to $79.04 a barrel. U.S. West Texas Intermediate crude futures slipped $1.82, or 2.4%, to $74.29 a barrel. The U.S. Federal Reserve indicated it will raise interest rates further next year, even as the economy slips toward a possible recession. On Thursday, the Bank of England and the European Central Bank raised interest rates to fight inflation. However, while the Keystone outage is supportive for prices of heavier crude oil grades, it is "doing nothing" for lighter global benchmarks, such as WTI and Brent, said Matt Smith, lead oil analyst at Kpler.

☆ Russia is now sending nearly 90% of its oil to Asia as EU sanctions divert crude flows
▼ + stars: | 2022-12-12 | by ( Phil Rosen | ) www.businessinsider.com time to read: +2 min

Europe's sanctions have halted nearly all crude imports from Russia, and most of it is heading to China and India. China, India, and Turkey have seen a large uptick in Russian crude imports this year, and have emerged as the biggest buyers amid the latest EU sanctions. The European Union's December 5 embargo on seaborne Russian crude has quickly impacted the flow of Russian oil, as it's effectively eliminated one of Moscow's largest, most reliant energy customers. It has taken effect in conjunction with a $60-a-barrel price cap on Russian crude, which Moscow has warned it would retaliate against. President Vladimir Putin, for his part, called the price cap "stupid," and said Russia is considering slashing its oil production in response.

☆ California Long Ruled U.S. Shipping. Importers Are Drifting East.
▼ + stars: | 2022-12-10 | by ( Paul Berger | Photographs David Walter Banks For The Wall Street Journal | ) www.wsj.com time to read: +13 min

Abercrombie & Fitch Co. is moving more merchandise through New York and New Jersey to avoid West Coast bottlenecks. It trailed its East Coast rival again in that measure during September and October, according to the Pacific Merchant Shipping Association and ports data. ”There are so many customers that got so screwed because they were entirely reliant on L.A. and Long Beach.”The logistical challenges of spreading imports along the East Coast and the Gulf Coast are massive. The shift in trade to the East Coast marks a return to where container ships originated. Then the U.S. began importing more goods from Europe, making an Atlantic Ocean crossing to various East Coast ports more critical.

LONDON, Dec 5 (Reuters) - The market for old oil tankers is booming, and it's all down to efforts by Western nations to curb trade in Russian crude. The European Union banned all seaborne Russian crude imports from Dec. 5, with a fuel import ban to follow in February. PRICE SURGEMajor Western oil companies typically stop using tankers when they are about 15 years old, and many would be scrapped. More tankers are now being used for voyages taking weeks, shipping Russian oil from the Baltic and Black Sea to Asia, whereas Russian oil was mainly sold in Europe previously and the voyages only took a few days. Ship broker Braemar also said that some of the vessels involved in shipping Iranian and Venezuelan oil were shifting to transporting Russian oil.

☆ Arctic data cable linking Europe to Japan secures first investment
▼ + stars: | 2022-12-02 | by ( Anne Kauranen | ) www.reuters.com time to read: +2 min

The subsea cable, which the developers say will be the first to be laid on the Arctic seabed, will connect Europe and Japan via North America as part of the global internet infrastructure. An earlier plan to run the cable along the Russian Arctic coastline, in a venture with Russia's second-biggest mobile phone operator Megafon (MFON.MM), was cancelled last year. This was due to Russia's increased reluctance to authorise the cable being laid in its territorial area, Finland's Cinia, the company leading the Far North Fiber consortium, said. Far North Fiber is a joint venture between Cinia, U.S.-based Far North Digital and Japan's Arteria Networks (4423.T). Far North Fiber gave no value for the investment but a source said one pair of fibres was worth around 100 million euros, with a further 100 million in maintenance costs required throughout its 30-year lifespan.

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