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Monday, 27 June 2016

What we’re tracking on 27 June 2016

Beltone Financial’s general assembly is set to decide on converting a third of its share capital to GDRs when it meets today, according to Reuters.

Israel, Turkey to re-establish diplomatic ties. Israeli and Turkish officials said late on Sunday they have reached an agreement on the restoration of full diplomatic ties, with an official announcement expected today, the Wall Street Journal (paywall) reported.

Will the agreement leave Egypt in the awkward position of being the only country in the world imposing a blockade on Gaza? No. The Turks had to abandon their demand for Israel to lift the blockade, but Israel is expected to announce they will allow Turkey to build “a hospital, power plant, desalination facility and other badly needed infrastructure in the war-battered Palestinian enclave,” the WSJ notes. Also not expected in today’s announcement, but still in the works: A proposed pipeline that would send Israeli gas to Turkey. We’ll be watching to see what this could mean for plans to import Israeli gas for domestic us and for liquefaction at facilities in Egypt.

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