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.