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Thursday, 11 May 2017

International headlines of note: Eni earnings, Olayan unit to IPO, uproar over Polish tourist’s death in Hurghada

On the international news front this morning:

  • Eni reported its best quarterly profits in two years in 1Q2017 on higher oil prices and production, Reuters reports. Eni is developing Egypt’s supergiant Zohr gasfield, which the development of which is “progressing ahead of schedule,” CEO Claudio Descalzi said.
  • KSA’s Olayan Financing Co. may be looking to IPO its bottled water business, Health Water Bottling Co., on the Tadawul, Bloomberg reports. Olayan is a significant investor in Egypt.
  • There’s an uproar in Poland about the death of a Polish woman visitingHurghada on vacation, which we noted yesterday authorities had labelled suspicious. The terms now being thrown around including allegations of [redacted] assault, Al-Arabiya reports.

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