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Sunday, 29 August 2021

Bank ABC and Blom acquisition to go through in 1Q2022

NilePreneurs to help expand local innovation accelerator: The CBE funded, Nile University-based NilePreneurs is taking part in a European Union funded, 30-month project to develop the innovation accelerator Ecosys+, according to Al Mal. The Trade Ministry’s Technology and Innovation Industrial Council, as well as the Academy of Scientific Research and Technology, along with several companies, are taking equal part in the project.

Other things we’re keeping an eye on this morning:

  • Egypt imported 1.6 bcm of natural gas from Israel’s Leviathan gas field during the first six months of the year, up from 0.4 bcm in the same period of 2020, according to figures in Delek drilling’s 2Q earnings release (pdf).
  • Bahrain’s Bank ABC could close its Blom Bank Egypt takeover in 1Q2022, acquiring a 99.5% stake in a merger that would scale up the bank’s retail, SME and digital exposure, pending regulatory approval, CFO Brendon Hopkins told Daily News Egypt.

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