World Bank could lend USD 50 bn over the next decade: The World Bank is looking at extending USD 50 bn worth of credit to borrowers over the next 10 years in a bid to address challenges such as pandemics and climate change, Bloomberg reports. The plan will be evaluated by the bank’s executive directors over the coming weeks before being presented to its governors at the April Spring Meetings. The proposal comes courtesy of G20 leaders, who have urged the bank to “find ways to stretch existing resources.” The bank is also looking to set explicit goals for sustainability and resilience in addition to its traditional objectives of alleviating poverty and enhancing prosperity.

Another round of layoffs at Amazon: Amazon will terminate another 9k employees in the coming weeks, CEO Andy Jassy said in a memoto employees yesterday. The e-commerce giant has already let go of some 18k employees globally in January.

EGX30

14,924

+1.7% (YTD: +2.2%)

USD (CBE)

Buy 30.84

Sell 30.96

USD at CIB

Buy 30.85

Sell 30.95

Interest rates CBE

16.25% deposit

17.25% lending

Tadawul

10,218

+0.6% (YTD: -2.5%)

ADX

9,545

-1.1% (YTD: -6.5%)

DFM

3,344

-0.2% (YTD: +0.2%)

S&P 500

3,952

+0.9% (YTD: +2.9%)

FTSE 100

7,404

+0.9% (YTD: -0.6%)

Euro Stoxx 50

4,119

+1.3% (YTD: +8.6%)

Brent crude

USD 73.74

+1.1%

Natural gas (Nymex)

USD 2.22

-4.9%

Gold

USD 1,999.70

+0.5%

BTC

USD 28,076

+0.4% (YTD: +70.5%)

THE CLOSING BELL-

The EGX30 rose 1.7% at yesterday’s close on turnover of EGP 1.37 bn (34.1% below the 90-day average). Local investors were net sellers. The index is up 2.2% YTD.

In the green: Cleopatra Hospitals Group (+7.0%), Oriental Weavers (+6.8%) and Qalaa Holding (+6.1%).

In the red: CIRA Education (-1.4%), Credit Agricole Egypt (-1.3%) and Taaleem Management Services (-1.2%).

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