Your top 5 pieces of business and economic news in September
Your top 5 pieces of business and economic news in September:
- Egypt’s non-oil private sector recovery stalled in August, according to IHS Markit PMI figures.
- The Central Bank of Egypt made a surprise 50 bps interest rate cut in September — its first since March.
- Remittances from Egyptians working abroad unexpectedly rose 11% to USD 2.9 bn in July.
- Egypt closed a USD 2 bn financing package with regional and international banks to plug budget shortfalls resulting from the covid-19 crisis.
- The Eastern Mediterranean Gas Forum became an officially established organization with the signing of its charter.