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Moody’s lowers US credit rating outlook on the back of debt affordability concerns
Fitch Ratings downgraded the US’ sovereign credit rating in August on similar concerns
Egypt central bank, Kuwait wealth fund to divest 40% of AAIB
The sale is expected to take place in 2024
Sovereign Fund of Egypt to finalize hotels sale this year -Soliman
A consortium of Talaat Moustafa Group and unnamed foreign investors agreed to buy a 37% stake in the government’s hotels…
What the markets on 9 November, 2023
The EGX30 rose 1.36% at today’s close on turnover of EGP 4.43 bn (75.9% above the 90-day average). Local investors…
Saudi Arabia racks up five of six of the region’s IPOs in 3Q
All together, IPOs in Saudi Arabia raised USD 330 mn in 3Q 2023
Aur microfinance arm raises EGP 225 mn from securitization. PLUS: News from cabinet and SODIC
The issuance came in two tranches, both rates P1
A case for optimism on the EGP
Some USD 8 bn could be raised in the coming months via asset sales, liabilities agreements, and government initiatives
Egyptian stocks, gold hit record highs on currency fears
We love the smell of optimism in the morning. Yes, there’s a risk that we just let our inner Pollyanna…
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