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

  • Schools and universities were ordered to move online until mid-February as covid-19 cases surged.
  • Annual headline inflation cooled to 5.4% in December from 5.7% in November.
  • Bank ABC won the bid to acquire Blom Bank Egypt, marking the first of two anticipated exits by Lebanese banks.
  • Egypt and the GCC ended their rift with Qatar, re-opening their airspaces and re-instating diplomatic ties.
  • Egypt’s non-oil private sector recovery stalled again in December, with the purchasing managers’ index showing business conditions deteriorating moderately.
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