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Tuesday, 2 March 2021

Your top 5 pieces of business and economic news in February 2021

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

  • Hikma Pharma is odds on to acquire GlaxoSmithKline’s Egypt commercialization and manufacturing assets after the British pharma giant knocked back rival bids by Rameda and Acdima.
  • Egypt sold USD 3.75 bn in USD-denominated eurobonds in its first int’l debt sale of 2021 — an issuance that was 4x oversubscribed.
  • The Central Bank of Egypt left rates on hold during its first meeting of 2021.
  • Non-oil private sector activity in Egypt continued to contract in January, albeit at a slower pace as falls in output and orders tempered, according to IHS Markit PMI figures.
  • Shares of Orascom Financial Holdings’ (OFH) began trading on the EGX on 17 February after the company was spun off from Orascom Investment Holding.

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. © 2021 Enterprise Ventures LLC.