Your top 5 pieces of business and economic news in July 2021
Your top 5 pieces of business and economic news in July:
- Russia lifted the six-year ban on flights to Red Sea resorts, with flights set to resume on 9 August.
- CIB issued Egypt’s first-ever corporate green bonds, selling USD 100 mn of climate-linked securities to investors in July.
- Abu Dhabi sovereign wealth fund ADQ acquired a 99% stake in Amoun Pharma in a transaction that valued the company at almost EGP 10.3 bn.
- The government hiked fuel prices for the second consecutive quarter, raising prices of all fuel grades by EGP 0.25.
- The Central Bank of Egypt (CBE) launched a EGP 100 bn mortgage finance initiative for low- and middle-income earners, offering 30-year finance at a subsidized rate to qualifying borrowers.