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Thursday, 13 October 2022

EGAS + the ‘other’ PIF. Plus; News from BTECH, BNY Mellon and CIRA

EGAS is closing in on an agreement with the Palestine Investment Fund to develop the Gaza Marine offshore gas field, Bloomberg Asharq reports, citing sources it says have knowledge of the matter. EGAS signed an MoU on the project with the Palestine Investment Fund last year. Gas extraction is expected to begin within three years of signing the final agreement. The field, located 22 nautical miles off the coast of the Gaza Strip, contains an estimated stock of 1 tn cubic feet of gas, which could be pumped for 10 to 12 years. Reuters also had the story.

BTECH launches innovation hub: Electronics retail giant BTECH has launched b_labs, a tech innovation hub designed to create solutions and systems for the company, according to a statement (pdf). The company will look to attract “hundreds” of tech entrepreneurs to build solutions servicing BTECH’s different business verticals, with b_labs kicking off a training academy at a later stage, the statement says.

BNY Mellon says it has cut transfer times between China and Egypt to three hours from at least two days previously using its new Swift Go service. The bank was intermediary between QNB Al Ahly and Shanghai Pudong Development Bank on the transfer, it said in a statement, pdf.

CIRA has 32.2k students enrolled in its schools (up 5.6% y-o-y) and 16k students enrolled in its universities (up 14.3% y-o-y) for the academic year 2022/2023. (Statement, pdf)

ALSO- NGOs have another six months — until 11 April, 2023 — to legalize their status in the country, after the Social Solidarity Ministry extended the deadline. (Statement)

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