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Monday, 2 December 2019

Your top 5 pieces of business and economic news in November

Your top 5 pieces of business and economic news in November:

  • Delek consortium and Egypt’s East Gas acquired a 39% stake of the East Mediterranean Gas (EMG) pipeline that runs between Egypt and Israel, bringing us one step closer to receiving natural gas from Israel’s Tamar and Leviathan fields.
  • Egypt’s annual headline inflation rate dropped for the fifth consecutive month to its lowest level in nine years, hitting 2.4% in October from 4.3% in September, giving the Central Bank of Egypt’s Monetary Policy Committee ample room to cut interest rates by 100 bps.
  • We sat down for an exclusive chat with the CEO of Egypt’s sovereign wealth fund Tharaa, Ayman Soliman.
  • Tarek Amer will remain in office as central bank governor for a second four-year term, it is confirmed by state media.
  • Egypt hosted the Investment for Africa 2019 forum, where agreements worth a combined USD 3 bn are signed, including those that provide Egypt with USD 250 mn in funding for energy sector from the European Bank for Reconstruction and Development.

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