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Posted inThe Market Yesterday

EGP / USD CBE market average: Buy 17.81 | Sell 17.91 EGP / USD at CIB: Buy 17.81 | Sell 17.91 EGP / USD at NBE: Buy 17.78 | Sell 17.88 EGX30 (Wednesday): 16,143 (+0.5%) Turnover: EGP 854 mn (xx% BELOW / ABOVE the 90-day average) EGX 30 year-to-date: +7.5% THE MARKET ON WEDNESDAY: The […]

Posted inCALENDAR

25 June (Monday): Egypt plays against Saudi Arabia at 2018 World Cup, Volgograd, Russia. 28 June (Thursday): CBE’s Monetary Policy Committee meeting. 1 July (Sunday): Application deadline for the DigitalAG4Egypt Challenge. 23 July (Monday): Revolution Day, national holiday. 16 August (Thursday): CBE’s Monetary Policy Committee meeting. 21-25 August (Tuesday-Saturday): Eid Al Adha (TBC), national holiday. […]

Posted inWhat We're Tracking Today

The EM meltdown is real, courtesy of Donald Trump

Keep it all in perspective #2: “Mounting trade fears send waves through global markets” the Financial Times declares, pointing to a sharp sell-off in Chinese shares yesterday as investors (who have for weeks shrugged off Trump’s saber-rattling on trade) freaked out about the back-and-forth imposition of sanctions between Washington and Beijing, which we had noted […]

Posted inWhat We’re Tracking This Week

What we’re tracking this week

White House special adviser Jared Kushner and Middle East envoy Jason Greenblatt are expected to visit Egypt this week as part of a Middle East tour that saw them stop in Jordan yesterday, the Associated Press reports The officials met with King Abdullah II to discuss, among other things, “the Trump Administration’s efforts to facilitate […]

Posted inON THE HORIZON

On the horizon

The fourth USD 2 bn tranche of the IMF’s loan to Egypt should be unlocked on 27 June when the IMF’s executive board meets to review progress on Egypt’s economic reform program. The disbursement would bring the total amount Egypt has received under the facility to USD 8 bn. The central bank’s Monetary Policy Committee […]

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