Back to the complete issue
Thursday, 3 December 2020

Your top 5 pieces of business and economic news in November

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

  • November was dominated by headlines on the race for a vaccine, with vaccines from Pfizer, BioNTech, Moderna, AstraZeneca, and Russia’s Sputnik V all reporting success rates of over 90%. Egypt is securing doses from Pfizer, AstraZeneca, and Sputnik V, but we may not see widespread distribution until mid-2021.
  • November was also the month of renewed investments and CAPEX spending, with a number of companies reporting new investments, FDI, and spending increases.
  • Second round of stimulus gets the go-ahead: President Abdel Fattah El Sisi authorized the deployment of a new round of stimulus to support the economy through a second wave of the virus.
  • Consumer healthcare giant Integrated Diagnostics Holdings (IDH) is considering the dual listing of its ordinary shares on the EGX, the company announced last month.
  • The CBE made a surprising interest rate cut of 50 basis points last month for the second consecutive time to support economic recovery from the covid-induced slump.

Enterprise is a daily publication of Enterprise Ventures LLC, an Egyptian limited liability company (commercial register 83594), and a subsidiary of Inktank Communications. Summaries are intended for guidance only and are provided on an as-is basis; kindly refer to the source article in its original language prior to undertaking any action. Neither Enterprise Ventures nor its staff assume any responsibility or liability for the accuracy of the information contained in this publication, whether in the form of summaries or analysis. © 2022 Enterprise Ventures LLC.

Enterprise is available without charge thanks to the generous support of HSBC Egypt (tax ID: 204-901-715), the leading corporate and retail lender in Egypt; EFG Hermes (tax ID: 200-178-385), the leading financial services corporation in frontier emerging markets; SODIC (tax ID: 212-168-002), a leading Egyptian real estate developer; SomaBay (tax ID: 204-903-300), our Red Sea holiday partner; Infinity (tax ID: 474-939-359), the ultimate way to power cities, industries, and homes directly from nature right here in Egypt; CIRA (tax ID: 200-069-608), the leading providers of K-12 and higher level education in Egypt; Orascom Construction (tax ID: 229-988-806), the leading construction and engineering company building infrastructure in Egypt and abroad; Moharram & Partners (tax ID: 616-112-459), the leading public policy and government affairs partner; Palm Hills Developments (tax ID: 432-737-014), a leading developer of commercial and residential properties; Mashreq (tax ID: 204-898-862), the MENA region’s leading homegrown personal and digital bank; Industrial Development Group (IDG) (tax ID:266-965-253), the leading builder of industrial parks in Egypt; Hassan Allam Properties (tax ID:  553-096-567), one of Egypt’s most prominent and leading builders; and Saleh, Barsoum & Abdel Aziz (tax ID: 220-002-827), the leading audit, tax and accounting firm in Egypt.