First KSA, now UAE moves to support Pakistan: The UAE has deposited USD 1 bn in emergency funding with Pakistan’s central bank to bolster its foreign reserves and help it avert a full-blown debt crisis, Reuters reports, citing Pakistan’s Finance Minister Ishaq Dar. This comes a day after Saudi Arabia deposited USD 2 bn into the country’s central bank.

IMF board greenlights Pakistan’s bailout loan: The USD 3 bn provided by the Gulf states equals the stand-by loan Pakistan agreed with the IMF last month, which the Fund’s executive board signed off on yesterday. Some USD 1.2 bn will be immediately disbursed, the IMF board said.

EGX30

17,144

-0.1% (YTD: +17.4%)

USD (CBE)

Buy 30.84

Sell 30.96

USD at CIB

Buy 30.85

Sell 30.95

Interest rates CBE

18.25% deposit

19.25% lending

Tadawul

11,727

+0.5% (YTD: +11.9%)

ADX

9,622

+0.3% (YTD: -5.8%)

DFM

3,987

0.0% (YTD: +19.5%)

S&P 500

4,472

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FTSE 100

7,417

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Euro Stoxx 50

4,366

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Brent crude

USD 80.18

+1.0%

Natural gas (Nymex)

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-3.6%

Gold

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+1.3%

BTC

USD 30,333

-0.6% (YTD: +83.3%)

THE CLOSING BELL-

The EGX30 fell 0.06% at yesterday’s close on turnover of EGP 1.49 bn. Local investors were net buyers. The index is up 17.44% YTD.

In the green: TMG Holding (+5.8%), Abu Qir Fertilizers (+1.7%) and Oriental Weavers (+1.5%).

In the red: Qalaa Holdings (-3.5%), Mopco (-3.2%) and Heliopolis Housing and Development (-3.1%).

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