{"id":585945,"date":"2023-05-02T00:00:00","date_gmt":"2023-05-02T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2023\/05\/02\/saudi-net-foreign-assets-slump-to-13-year-low\/"},"modified":"2023-05-02T00:00:00","modified_gmt":"2023-05-02T00:00:00","slug":"saudi-net-foreign-assets-slump-to-13-year-low","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2023\/05\/02\/saudi-net-foreign-assets-slump-to-13-year-low\/","title":{"rendered":"Saudi net foreign assets slump to 13-year low"},"content":{"rendered":"

Saudi NFAs fall to 13-year low despite Aramco dividend boost:<\/span> Saudi Arabia\u2019s net foreign assets <\/span>dropped to USD 419 bn in March fro<\/span>m USD 433 bn t<\/span>he month before, according to <\/span>central bank figures<\/a><\/span> out yesterday. This is the lowest figure since July 2010, according to <\/span>Bloomberg<\/a><\/span>. The lower figure comes despite Saudi Aramco in March <\/span>increasing dividend payouts<\/a><\/span>, a key revenue source for the government.<\/span><\/p>\n

Adnoc Gas signs 3-year LNG supply agreement with TotalEnergies:<\/span> Adnoc Gas <\/span>announced a three-year agreement with TotalEnergies for the supply of liquified natural gas (LNG), according to <\/span>a press release (pdf)<\/a><\/span>. The estimated value of the agreement falls between USD 1 bn and USD 1.2 bn based on current market conditions, and it will run through to 2025. <\/span><\/p>\n

Remember:<\/span>Adnoc Distribution <\/span>acquired a 50% stake<\/a><\/span> in the French company\u2019s Egypt subsidiary <\/span>earlier this year.<\/span><\/p>\n

<\/a><\/a><\/p>\n

\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n

<\/use><\/svg><\/p>\n<\/td>\n\n

EGX30 <\/span><\/p>\n<\/td>\n

\n

17,311<\/span><\/p>\n<\/td>\n

\n

-2.0% (YTD: +18.6%)<\/span><\/p>\n<\/td>\n<\/tr>\n

\n

<\/use><\/svg><\/p>\n<\/td>\n\n

USD (CBE)<\/span><\/p>\n<\/td>\n

\n

Buy 30.84<\/span><\/p>\n<\/td>\n

\n

Sell 30.96<\/span><\/p>\n<\/td>\n<\/tr>\n

\n

<\/use><\/svg><\/p>\n<\/td>\n\n

USD at CIB<\/span><\/p>\n<\/td>\n

\n

Buy 30.85<\/span><\/p>\n<\/td>\n

\n

Sell 30.95<\/span><\/p>\n<\/td>\n<\/tr>\n

\n

<\/use><\/svg><\/p>\n<\/td>\n\n

Interest rates CBE<\/span><\/p>\n<\/td>\n

\n

18.25% deposit<\/span><\/p>\n<\/td>\n

\n

19.25% lending<\/span><\/p>\n<\/td>\n<\/tr>\n

\n

<\/use><\/svg><\/p>\n<\/td>\n\n

Tadawul<\/span><\/p>\n<\/td>\n

\n

11,286<\/span><\/p>\n<\/td>\n

\n

-0.2% (YTD: +7.7%)<\/span><\/p>\n<\/td>\n<\/tr>\n

\n

<\/use><\/svg><\/p>\n<\/td>\n\n

ADX<\/span><\/p>\n<\/td>\n

\n

9,704<\/span><\/p>\n<\/td>\n

\n

-0.9% (YTD: -5.0%)<\/span><\/p>\n<\/td>\n<\/tr>\n

\n

<\/use><\/svg><\/p>\n<\/td>\n\n

DFM<\/span><\/p>\n<\/td>\n

\n

3,538<\/span><\/p>\n<\/td>\n

\n

-0.2% (YTD: +6.1%)<\/span><\/p>\n<\/td>\n<\/tr>\n

\n

<\/use><\/svg><\/p>\n<\/td>\n\n

S&P 500<\/span><\/p>\n<\/td>\n

\n

4,168<\/span><\/p>\n<\/td>\n

\n

0.0% (YTD: +8.6%)<\/span><\/p>\n<\/td>\n<\/tr>\n

\n

<\/use><\/svg><\/p>\n<\/td>\n\n

FTSE 100<\/span><\/p>\n<\/td>\n

\n

7,871<\/span><\/p>\n<\/td>\n

\n

+0.5% (YTD: +5.6%)<\/span><\/p>\n<\/td>\n<\/tr>\n

\n

<\/use><\/svg><\/p>\n<\/td>\n\n

Euro Stoxx 50<\/span><\/p>\n<\/td>\n

\n

4,359<\/span><\/p>\n<\/td>\n

\n

0.0% (YTD: +14.9%)<\/span><\/p>\n<\/td>\n<\/tr>\n

\n

<\/use><\/svg><\/p>\n<\/td>\n\n

Brent crude<\/span><\/p>\n<\/td>\n

\n

USD 79.37<\/span><\/p>\n<\/td>\n

\n

-1.2%<\/span><\/p>\n<\/td>\n<\/tr>\n

\n

<\/use><\/svg><\/p>\n<\/td>\n\n

Natural gas <\/span>(Nymex)<\/span><\/p>\n<\/td>\n

\n

USD 2.32<\/span><\/p>\n<\/td>\n

\n

-3.9%<\/span><\/p>\n<\/td>\n<\/tr>\n

\n

<\/use><\/svg><\/p>\n<\/td>\n\n

Gold<\/span><\/p>\n<\/td>\n

\n

USD 1,990.30<\/span><\/p>\n<\/td>\n

\n

-0.4%<\/span><\/p>\n<\/td>\n<\/tr>\n

\n

<\/use><\/svg><\/p>\n<\/td>\n\n

BTC<\/span><\/p>\n<\/td>\n

\n

USD 27,894<\/span><\/p>\n<\/td>\n

\n

-5.7% (YTD: +68.5%)<\/span><\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n

THE CLOSING BELL-<\/span><\/p>\n

The EGX30 fell 2.0% at yesterday\u2019s cl<\/span>ose<\/span> on turnover of E<\/span>GP 2.09 bn (about 15% above thet railing 90-day average). Foreign investors were <\/span>net sellers. The index is up 18.6% YTD.<\/span><\/p>\n

In the green: <\/span>Eastern Company (+1.5%), Ezz Steel (+0.7%) and Abu Dhabi Islamic Bank - Egypt (+0.4%).<\/span><\/p>\n

In the red: <\/span>AMOC (-10.7%), Abu Kir Fertilizers (-4.7%) and Qalaa Holdings (-4.5%).<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

This comes despite a bumper dividend payout from Aramco<\/p>\n","protected":false},"author":1,"featured_media":585946,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[7210],"tags":[6710,394,93,72,119,91,122,219,1990],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-585945","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-planet-finance","tag-adnoc-gas","tag-aramco","tag-energy","tag-enterpriseam","tag-financial-markets","tag-oil-and-gas","tag-planet-finance","tag-saudi-arabia","tag-totalenergies","wpautop","entry"],"acf":{"mongo_id":"e9a961df-1e4b-4e76-adf9-580a502a9ce3","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2023\/5\/71.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Saudi 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The firm\u2019s revenues also decreased by 18% y-o-y to USD 440 bn over the same period, the\u2026","rel":"","context":"In "PLANET FINANCE"","block_context":{"text":"PLANET FINANCE","link":"https:\/\/enterpriseam.com\/egypt\/planet-finance\/\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2024\/3\/835.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":562725,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/06\/03\/hedge-fund-assets-hit-record-high\/","url_meta":{"origin":585945,"position":3},"title":"Hedge fund assets hit record high","author":"enterpriseam admin","date":"3 June 2021","format":false,"excerpt":"Global hedge fund industry assets grew to a new all-time high of USD 4.1 tn at the end of March as a strong economic recovery, a rise in equity and commodity prices, and an unwinding of covid restrictions fuels optimism, CNBC reports, citing figures from BarclayHedge. Hedge funds have generated\u2026","rel":"","context":"In "PLANET FINANCE"","block_context":{"text":"PLANET FINANCE","link":"https:\/\/enterpriseam.com\/egypt\/planet-finance\/\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":609662,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/11\/08\/saudi-aramco-fertiglobe-report-lower-earnings-following-bumper-2022\/","url_meta":{"origin":585945,"position":4},"title":"Saudi Aramco, Fertiglobe report lower earnings following bumper 2022","author":"enterpriseam admin","date":"8 November 2023","format":false,"excerpt":"Saudi Aramco\u2019s 3Q earnings drop on the back of production cuts and falling oil prices: Saudi oil giant Saudi Aramco posted a 23% y-o-y drop in its 3Q earnings, according to an earnings release (pdf) yesterday. Net income fell to USD 32.6 bn in the quarter, down from USD 42.4\u2026","rel":"","context":"In "PLANET FINANCE"","block_context":{"text":"PLANET FINANCE","link":"https:\/\/enterpriseam.com\/egypt\/planet-finance\/\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2023\/11\/384.JPG?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":578033,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/12\/13\/americana-shares-rise-following-dual-listing-in-saudi-abu-dhabi\/","url_meta":{"origin":585945,"position":5},"title":"Americana shares rise following dual-listing in Saudi + Abu Dhabi","author":"enterpriseam admin","date":"13 December 2022","format":false,"excerpt":"Americana shares climb in its dual debut: Americana Group, the operator of KFC and Pizza Hut in the Middle East, saw its share price climb on its trading debut following a dual listing in Riyadh and Abu Dhabi, Bloomberg reports. Shares rose 13% in Abu Dhabi to AED 2.95 and\u2026","rel":"","context":"In "PLANET FINANCE"","block_context":{"text":"PLANET FINANCE","link":"https:\/\/enterpriseam.com\/egypt\/planet-finance\/\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/12\/262.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/585945","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/comments?post=585945"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/585945\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/585923"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/585946"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=585945"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=585945"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=585945"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=585945"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=585945"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}