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THIS EVENING: EGX30 closes down 5% after ADQ investment cools off parallel market + NDFs
Good afternoon, ladies and gentlemen. We’re starting off a new week that promises to be busy and bring us a…
EGP strengthens on parallel and derivatives markets
Twelve-month NDFs saw the USD-EGP rate decline 11.5% throughout the day to 57.5 after the news of the ADQ sale…
How will we use the cash? Clearing the backlog, paying foreign partners top the list
Brace for a “modest” devaluation — if the IMF facility comes through, policymakers will have four years of runway when…
ADQ acquires development rights to Ras El Hekma for USD 24 bn, will invest a further USD 11 bn in “real estate and other prime projects”
Ras El Hekma will be transformed into a “next-generation city,” housing tourism, urban, commercial, and recreational spaces
Egypt could retain 20% in Ras El Hekma following sale to Gulf investor
The cabinet is currently reviewing “investment offers for important projects that are expected to generate huge resources of foreign currency”
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