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What the markets are doing on 1 October, 2023
The EGX30 fell 0.6% at today’s close on turnover of EGP 1.9 bn (11.9% below the 90-day average). Foreign investors…
Bond sell-off accelerates, sending yields to “unthinkable” highs -Bloomberg
Higher yields in advanced economies isn’t good news for Egypt
Telecom Egypt to extend cross-Mediterranean Medusa subsea cable to the Red Sea + ADIB’s new sukuk move
The state-owned company signed an agreement last year to land the cable at Port Said
Egypt faces possible demotion on FTSE stock indexes amid FX crunch
Foreign investors are reportedly encountering problems repatriating FX from Egypt as the country endures its worst FX crisis in years
What the markets are doing on 27 September, 2023
The EGX30 fell 0.9% at today’s close on turnover of EGP 2.1 bn (0.6% below the 90-day average). Local investors…
Global trade suffers biggest slump since covid as rate hikes bite
Trade volumes fell 3.2% y-o-y in June, according to new figures
Orascom, Metito reach financial close for Abu Dhabi desalination project. PLUS news from Dar and Acacia, Banque Misr, Alameda, Siemens Healthineers
The USD 2.2 bn project includes a 500k cbm/day desalination plant and a 75-km water pipeline
Saudi wealth fund wants minority stake in Palm Hills
The Public Investment Fund is reportedly in talks with the Arab African International Bank to acquire its 13% stake in…
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