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ADES on course to raise USD 1.2 bn in Saudi IPO
The company is expected to price its shares at the top of the range
EBRD greenlights USD 20 mn for edible oil firm Afia
The loan will fund raw material imports amid an FX crunch at home and global food insecurity
Rising oil prices drive hotter-than-expected US inflation in August
Saudi Arabia and Russia are trying to push oil prices towards USD 100, complicating the Federal Reserve’s attempts to calm…
The gov’t is pacing out its water desalination plant plans on FX challenges + land allocations
The first group of 3-4 desalination plants will require investments worth c. USD 1.5 bn
Another IPO in Riyadh
Another Saudi IPO in the cards: Saudi Arabian Airlines (aka Saudia) and Tarabot Air Cargo services will offer a 30%…
Arm to close IPO order book early on huge investor demand
The institutional offering was reportedly 10x oversubscribed as of yesterday
World Bank appoints new country head for Egypt,Yemen + Djibouti
Stephane Guimbert has worked at the World Bank for 22 years and arrives in Cairo after serving as its operations…
Fully flexible exchange rate needed to counter pressure on EGP -IIF
The institute says devaluation works in the short term but isn’t sustainable
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