{"id":552499,"date":"2022-09-08T13:21:41","date_gmt":"2022-09-08T13:21:41","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2022\/09\/08\/this-evening-inflation-accelerates-in-august-expedition-presents-a-new-offer-for-domty\/"},"modified":"2022-09-08T13:21:41","modified_gmt":"2022-09-08T13:21:41","slug":"this-evening-inflation-accelerates-in-august-expedition-presents-a-new-offer-for-domty","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2022\/09\/08\/this-evening-inflation-accelerates-in-august-expedition-presents-a-new-offer-for-domty\/","title":{"rendered":"THIS EVENING: Inflation accelerates in August + Expedition presents a new offer for Domty"},"content":{"rendered":"

Good afternoon, ladies and gentlemen.<\/strong> We\u2019re just hours away from a very well-deserved weekend after a mad rush of a week \u2014 with today being no exception.<\/p>\n

ALSO- It\u2019s your last day to tell us how you\u2019re feeling about your business<\/strong> and the wider economy. We\u2019ll have the results for mid-month \u2014 just in time to give you a sense of what everyone else is thinking heading into budget season. Make your voice heard in our Fall Reader Survey.<\/a><\/strong> It won\u2019t take more than a few minutes to complete.<\/p>\n

THE BIG STORIES TODAY<\/strong><\/p>\n

<\/a> #1- Inflation hits four-year high:<\/strong> Annual urban inflation accelerated again in August on the back of higher food and beverage prices, according to figures state statistics agency Capmas released today. Consumer prices in urban areas rose to 14.6% y-o-y in August, up from 13.6% in July<\/a>. Urban inflation rose 0.9% m-o-m, marking a slower pace of increase from July, when it recorded 1.3%.<\/p>\n

#2- Expedition ups its Domty offer:<\/strong> Expedition Investments has (marginally) revised upwards its offer to acquire a 34% in cheesemaker Domty, the Financial Regulatory Authority said in a disclosure (pdf)<\/a> today. A consortium led by Expedition is now offering EGP 5.50 per share \u2014 up from its previous offer of EGP 5.00 per share \u2014 in its mandatory tender offer to purchase up to 96.2 mn shares in Domty. The EGP 5.50 offer is still below the EGP 6.90 fair value determined by BDO earlier this week<\/a>.<\/p>\n

^^We\u2019ll have more<\/strong> on these stories and others in Sunday\u2019s edition of EnterpriseAM<\/strong>.<\/p>\n

THE BIG STORY ABROAD<\/strong><\/p>\n

There\u2019s no big business story capturing the attention of the international press, but Queen<\/strong> Elizabeth\u2019s \u201cconcerning\u201d health<\/strong> is getting some digital ink this afternoon. Doctors are \u201cconcerned\u201d about the queen\u2019s health \u201cand have recommended she remain under medical supervision,\u201d Buckingham Palace said in a statement<\/a> earlier today. The queen has remained at her summer home at Balmoral Castle, where outgoing prime minister Boris Johnson and his successor Liz Truss visited the queen this week. The story is getting coverage in Reuters<\/a>, the Financial Times<\/a>, and the Wall Street Journal<\/a>.<\/p>\n

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** CATCH UP QUICK<\/strong> on the top stories from today\u2019s EnterpriseAM<\/strong>:<\/p>\n