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Tuesday, 25 October 2016

Other business news of note on 25 October 2016

Other national and international stories worth noting this morning:

  • Egypt losing auto manufacturing hub bid? Egypt, Algeria and Angola appear to have lost their respective bids to become automotive manufacturing hubs to Nigeria and Kenya, Bloomberg reports. “A group of carmakers led by executives from Ford Motor Co. and Nissan Motor Co. will seek to work with Kenyan authorities to develop an auto-manufacturing industry in the east African country,” the newswire said. Details here.
  • Turkey’s first IPO in six months has been called off “just days before shares were due to start trading,” Bloomberg reports, saying Turkcell’s USD 125 mn spinoff of its towers subsidiary would be postponed until “markets come to a more secure and stable state.” Details here.
  • A long-sought Canada-EU trade deal is on the skids as a region of Belgium objected to the pact. Canada’s prime minister was due in Europe this week for the signing of the agreement. Details in the WSJ | FT | Reuters | Guardian.

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