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AI + Innovation (MENA) 
Infrastructure 
Infinity Power inks big Senegal contract. PLUS: Kuwaiti oil, digital banks, and aircraft
The battery energy storage system will supply Senegal with 40 MW of clean energy
Amr Adib takes aim at the EGP and sugar price hikes
The EGP fell even further against the USD in the parallel market to a record low
Fitch cuts bank credit ratings following sovereign downgrade
Fitch, S&P and Moody’s have all downgraded Egypt’s sovereign rating over the past month due to rising debt concerns
Kuwait rolls over USD 4 bn CBE deposit -report
The two-tranche deposit is now set to mature in April and September next year
THIS EVENING: Kuwait tops up USD 4 bn deposit with CBE before next year’s expiry date + DP World’s Sokhna logistics zone to begin construction this month
Good afternoon, friends, and welcome to this busy Monday as fresh FX and investment updates are hitting our news cycle.…
Inflation eases for the first time in five months in October, slower than analyst expectations
Food inflation slowed for the first time since April
Egypt central bank, Kuwait wealth fund to divest 40% of AAIB
The sale is expected to take place in 2024
THIS EVENING: CBE + KIA to offload stakes in AAIB. Plus: No cyberattack at Fawry
Good afternoon friends and Happy Thursday. The week has ended with privatization updates entering our news cycle alongside the conflict…
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