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Pharma sector requests raw ingredient customs breaks, packaging VAT breaks. PLUS: pharma monopolies beware, Menthum + CI Capital, Palm Hills Developments, Kraft Heinz
Around 90% of the raw materials used in the pharma industry are imported
Valu closes first EGP 1.1 bn securitized bond issuance under new EGP 16 bn program
This is Valu’s 11th securitized bond issuance
Fed chief signals September rate cut as economic risks shift
US inflation fell under the 3% mark in July for the first time since March 2021
Malaysia’s Proton to start producing locally made autos in early 2025. PLUS: Talgo, Aton + Ankh + Centamin, IFC + Tanmiya Capital Ventures, Fujifilm
The company plans to invest some EGP 2 bn during the first two years of production
Gold soars as investors pencil in September rate cuts and a weakening USD
Gold prices are up 22% in 2024 so far
CBE says banks allowed to set their own FX withdrawal limits following reports of enforced limits in the pipeline
No limits will be applied to FX deposits or overseas transfers
CBE expected to soon lift import restrictions on non-essential goods following FX liquidity uptick
The CBE on Sunday asked local banks to categorize letters of credit for the 13 non-essential goods that require prior…
Hassan Abdalla gets another year as CBE governor
Abdalla has been the governor of the CBE since 2022
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