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High real rates ward off bears in EM FX markets + KSA plans equities splurge
Bearish sentiment on emerging-market currencies is lifting as traders u-turn on assumptions that the asset class will be hit when…
Good news on the economy front: The World Bank thinks we’re going to grow faster this year
The World Bank has revised upwards its prediction for Egypt’s GDP growth by 0.5 percentage points to 5.5% for FY2021-2022.…
PMI outlook improves, but remains in contraction territory
Egypt’s non-oil business activity “inched closer to stabilisation” in December, contracting at its slowest pace in four months, according to…
Erdogan to make bridge-mending visit to KSA
Turkey-Saudi rapprochement in the cards? Turkish president Recep Tayyip Erdogan will visit Saudi Arabia in February as the two countries…
Egypt in the News: Regional cultural competition + the true face of The Mummy
It’s a relatively calm morning for Egypt in the foreign press, with no single story dominating coverage. The New York…
Waste collection startup Bekia plans USD 1 mn Gulf expansion for 1Q2022
Startup Bekia is looking to raise USD 1 mn to help it expand to the UAE and Saudi Arabia in…
A glimmer of hope for EMs rolling into 2022
It’s not necessarily all doom and gloom for emerging market assets next year: With global rates now expected to rise…
Saudi electronics retailer eXtra eyes EGP 1 bn expansion to Egypt
Saudi electronics retailer Extra plans to spend EGP 1 bn to launch in Egypt, marking the company’s first expansion outside…
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