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Your top 5 pieces of business and economic news in August:
- Egypt’s non-oil private sector contracted at its slowest pace in a year in July, according to IHS Markit PMI figures.
- The Finance Ministry is looking to end tax exemptions enjoyed by financial institutions on returns on government bonds.
- Blackstone energy developer Zarou plans to pump USD 1 bn into Egypt’s energy sector this year.
- Banque Misr could integrate CI Capital’s brokerage, financial services, asset management, and non-banking financial services arms into its operations after acquiring a 24.7% stake in the company.
- The Central Bank of Egypt left interest rates unchanged for the fourth month running in its August meeting.
