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Expectations of only one rate cut this year rise as the Fed wraps two-day meeting today
The prediction preceded the Fed’s June meeting set to end today
Phase two of Qalaa’s debt buyback program oversubscribed
The debt buyback program is part of Qalaa’s plan to retire some USD 430 mn in foreign-currency debt
Amid election surprises, EM investors are bullish on local debt
“We like the story in Egypt,” said Ninety One’s Christine Reed
Inflation falls to lowest level in over a year
Monthly inflation also fell for the first time in nearly two years
Annual inflation drops to its lowest level in over a year. PLUS: US Secretary of State Antony Blinken in town to talk ceasefire
Good afternoon, folks and happy Monday. Like you, we are staring down our calendars wishing the days could pass sooner…
Government rejects proposal to hike the price of subsidized sugar. PLUS: HSBC + Juhayna, Nokia, Samih Sawiris’ FTI Touristik, EgyptAir, Podcast Productions
The state currently spends more than EGP 23 in subsidies on every kilo of subsidized sugar
Qalaa shareholders have bought over 81% of its debt in first subscription round
The debt buyback program is part of Qalaa’s plan to retire some USD 430 mn in foreign-currency debt
UBS strategists forecast FX inflows of up to USD 20 bn by the end of 2Q 2025 in upside scenario, outflows of up to USD 3 bn in downwide scenario
The Swiss investment bank recommends holding Egyptian t-bills without hedging against FOREX fluctuations
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