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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.

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