Your top 5 pieces of business and economic news in October 2021:

  • e-Finance raised USD 370 mn in its IPO on the EGX amid strong demand from foreign investors, making it the bourse’s biggest listing since 2015.
  • Egypt’s current account deficit widened to USD 5.13 bn in 4Q FY 2020-2021, from USD 3.83 bn in the same period the previous fiscal year.
  • Annual urban inflation hit its highest levels in 20 months in September, reaching 6.6% from 5.7% in August on rising food prices.
  • The IMF downgraded its growth projections for the Egyptian economy to 5.2% in the current fiscal year from 5.7% it predicted in April.
  • Hotels can now operate at full capacity for the first time in 18 months after the government lifted covid restrictions put in place in March 2020 to curb the spread of the virus.
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