Egypt reached a settlement agreement with state-owned Israel Electric Corp. to pay a reduced fine for halting deliveries of natural gas, ending a dispute that started about seven years ago. The accord signed June 16 cuts the fine to $500 million from $1.7 billion after reaching “an amicable agreement” out of a “keenness to avail an environment attractive to investment,” Egypt’s oil ministry said Sunday in an emailed statement. Israel Electric, the state-owned utility, had sued Egyptian state entities after Egypt broke a contract signed in 2005 to supply the fuel. Israeli officials at the time said the termination ... (full story)