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Aramco IPO slipping, Egypt’s car export hopes dented

Reports that Saudi Arabia’s sovereign wealth fund is looking for alternative sources of financing suggest that the government is moving further away from its flagship sale of a stake in Aramco. This adds to the signs that momentum behind the Vision 2030 reforms is fading. Meanwhile, rumours that Egypt will scrap a long-delayed programme to support the car sector dents hopes that it will be able to follow Morocco’s path in integrating into European manufacturing supply chains.

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