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.
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