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The Week Ahead: Fed Talking Money

first_img The Week Ahead: Nearing the Forbearance Exit 2 days ago This Weeks Schedule:MBA Mortgage Applications, Wednesday 7 a.m. ESTConstruction Spending Report, Wednesday 3:00 p.m. GMTFreddie Mac Weekly Mortgage Survey, Thursday 10 a.m. ESTEmployment Situation, Friday 8:30 a.m. EST The Week Ahead: Fed Talking Money Demand Propels Home Prices Upward 2 days ago in Daily Dose, Featured, Foreclosure, News Related Articles Subscribe Data Provider Black Knight to Acquire Top of Mind 2 days ago Share Save Week Ahead 2017-07-02 Brianna Gilpin Demand Propels Home Prices Upward 2 days ago Previous: Firm Closes Multi-Million Dollar Deal Next: They Don’t Spend Like They Used to The Best Markets For Residential Property Investors 2 days ago About Author: Brianna Gilpin Servicers Navigate the Post-Pandemic World 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Sign up for DS News Daily  Print This Post Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago The Federal Reserve Board announced report will be published five days in advanced, giving members of Congress and the public time to review the report before Chair Yellen’s testimony.Traditionally, the report on the U.S. economy and central bank policy has been released at the same time as the testimony from the Fed Chief. However, the Fed believes an advanced release would be beneficial for both the public and Congress before Yellen’s appearance.The Fed this year increased the frequency of its interest rate increases. It also recently announced detailed plans for reducing its holdings of securities accumulated during the financial crisis, an issue of particular interest among lawmakers.The July 2017 Monetary Policy Report will be released to the Congress at 11 a.m. EDT on Friday, July 7.Yellen is scheduled to testify before the House Financial Services Committee on Wednesday, July 12. Yellen’s opening statement will be released at 8:30 a.m. EDT. Brianna Gilpin, Online Editor for MReport and DS News, is a graduate of Texas A&M University where she received her B.A. in Telecommunication Media Studies. Gilpin previously worked at Hearst Media, one of the nation’s leading diversified media and information services companies. To contact Gilpin, email [email protected] Tagged with: Week Ahead The Best Markets For Residential Property Investors 2 days ago Home / Daily Dose / The Week Ahead: Fed Talking Money July 2, 2017 1,202 Views Governmental Measures Target Expanded Access to Affordable Housing 2 days agolast_img read more

ERC inaugurates $4.3bn Mostorod petrochem refinery in Egypt

first_img The refinery receives fuel oil as feedstock from EGPC’s Cairo Oil Refining Company. (Credit: LEEROY Agency from Pixabay) Egyptian Refining Company (ERC), a subsidiary of a African energy and infrastructure company Qalaa Holdings, has announced the inauguration of the $4.3bn Mostorod petrochem refinery in Egypt.Egyptian president Abdel Fattah Saeed Hussein Khalil el-Sisi has inaugurated the facility, which is claimed to be the largest private sector project of its kind in Africa, Enterprise reported.The greenfield petroleum refinery converts low value fuel oil into middle and light distillates to meet the domestic consumption need in the country.In addition, it helps in avoiding 186,000 tonnes of sulfur dioxide and 96,000 tonnes of sulfur per year.The refinery receives fuel oil as feedstock from EGPC’s Cairo Oil Refining Company (CORC), which is claimed to be the largest refinery of the nation that producing 20% of Egypt’s current refining capacity.ERC refinery can produce approximately 2.3 mn tonnes of diesel fuel per yearThe refinery has the capacity to produce approximately 2.3 mn tonnes of diesel fuel per year and 860k tonnes of high octane fuel, and 600,000 tonnes of jet fuel.It can produce 4.7 million tonnes of refined products and oil derivatives annually.Completely operational from September last year, ERC uses advanced technologies and helps to significantly minimise the carbon and sulfur dioxide emissions in the country.Recently, Italian oil and gas company Eni and its partner BP have discovered new gas in the Great Nooros area, in the Abu Madi West Development lease, offshore Egypt.The discovery has been made at the Nidoco NW-1 exploration well, in 16 meters of water depth, 4km north from the Nooros field that was discovered in July 2015. The refinery converts low value fuel oil into middle and light distillates to serve the domestic consumption needs in Egyptlast_img read more