Back to the complete issue
Monday, 31 October 2016

International news: Baker Hughes and GE to merge, Canada-EU FTA inked

Other national and international stories worth noting in what is a reasonably busy news day for a Monday:

  • Oil field services outfit Baker Hughes is near a USD 30 bn pact to sell itself to GE in a transaction that would make the new GE unit publicly traded, but controlled by GE, the Wall Street Journal (paywall) reports.
  • At least two blocs still believe in free trade: Canada and the European Union concluded a free-trade agreement yesterday. The agreement still requires approval by some 40 parliaments…
  • Hillary Clinton’s proxies accused the director of the US FBI of a committing a “partisan act” by disclosing that it was again looking into her use of email with just days to go before the election.
  • The government’s ownership of Eastern Tobacco could see Egypt excluded from the World Health Organization’s Framework Convention on Tobacco Control. China, Cuba, Bulgaria, Thailand and India could face similar issues, the writer of an op-ed for the WSJ (paywall) notes.
  • Goldman Sachs is allowing certain of its rivals to sell their financial products through one of its web applications, the Journal reports.
  • Random note: One of Pope Francis’ top assistants is an Egyptian priest named Yoannis Lahzi Gaid, Reuters notes as an aside in an otherwise still interesting piece headlined “Pope Francis the manager — surprising, secretive, shrewd.”

Enterprise is a daily publication of Enterprise Ventures LLC, an Egyptian limited liability company (commercial register 83594), and a subsidiary of Inktank Communications. Summaries are intended for guidance only and are provided on an as-is basis; kindly refer to the source article in its original language prior to undertaking any action. Neither Enterprise Ventures nor its staff assume any responsibility or liability for the accuracy of the information contained in this publication, whether in the form of summaries or analysis. © 2022 Enterprise Ventures LLC.

Enterprise is available without charge thanks to the generous support of HSBC Egypt (tax ID: 204-901-715), the leading corporate and retail lender in Egypt; EFG Hermes (tax ID: 200-178-385), the leading financial services corporation in frontier emerging markets; SODIC (tax ID: 212-168-002), a leading Egyptian real estate developer; SomaBay (tax ID: 204-903-300), our Red Sea holiday partner; Infinity (tax ID: 474-939-359), the ultimate way to power cities, industries, and homes directly from nature right here in Egypt; CIRA (tax ID: 200-069-608), the leading providers of K-12 and higher level education in Egypt; Orascom Construction (tax ID: 229-988-806), the leading construction and engineering company building infrastructure in Egypt and abroad; Moharram & Partners (tax ID: 616-112-459), the leading public policy and government affairs partner; Palm Hills Developments (tax ID: 432-737-014), a leading developer of commercial and residential properties; Mashreq (tax ID: 204-898-862), the MENA region’s leading homegrown personal and digital bank; Industrial Development Group (IDG) (tax ID:266-965-253), the leading builder of industrial parks in Egypt; Hassan Allam Properties (tax ID:  553-096-567), one of Egypt’s most prominent and leading builders; and Saleh, Barsoum & Abdel Aziz (tax ID: 220-002-827), the leading audit, tax and accounting firm in Egypt.