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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 […]
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. […]
What we’re tracking on 20 June 2018
There really are no words. Not for how we felt watching the Pharaohs crumble under pressure last night from Russia (Russia, people), nor for the residual grumpiness we feel this morning. We’re not going to advise you on who to root going forward, nor are we going to run photos of our friends at the […]
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 […]
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 […]
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 […]
Egypt loses 3-1 to Russia
Egypt went down last night in a crushing 3-1 defeat at the hands of World Cup host Russia to the disappointment of mns of fans both here at home and at the stadium in St. Petersburg. After a tight first half, Egypt’s Ahmed Fathi accidentally deflected the ball into the net in the first two […]
Last Night’s Talk shows on 20 June 2018
The airwaves were still blessedly quiet last night with most of our talk show hosts still on break. A few of them might also be in Russia, as we’re hearing that Lamees Al Hadidi is there to cover the World Cup. Speaking of which, Egypt’s 3-1 defeat against Russia yesterday was the one thing occupying […]