{"id":630590,"date":"2018-04-26T04:28:49","date_gmt":"2018-04-26T04:28:49","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2018\/04\/26\/egyptian-debt-is-still-a-safe-bet-for-investors\/"},"modified":"2018-04-26T04:28:49","modified_gmt":"2018-04-26T04:28:49","slug":"egyptian-debt-is-still-a-safe-bet-for-investors","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2018\/04\/26\/egyptian-debt-is-still-a-safe-bet-for-investors\/","title":{"rendered":"Egyptian debt is still a safe bet for investors"},"content":{"rendered":"

<\/a> Egypt still attractive to the carry trade. <\/strong>Although rising US interest rates and global acknowledgement of credit risk from government bonds undermines slightly the competitive advantage of emerging markets, there is a view that the gap is still \u201cmeaningful enough\u201d to indicate that EMs will do just fine this year. \u201cThe trick is to seek securities in places where there\u2019s relatively low interest-rate risk,\u201d Morgan Stanley Investment\u2019s Michael Kushma tells Bloomberg in an interview<\/a>, where he names Egypt and the Ukraine as two markets where \u201cdomestic stories dominate any external factors.\u201d <\/strong>He points out that both countries have been successful in their attempts to raise debt, with Egypt having just raised EUR 2 bn from its first EUR-denominated eurobond sale earlier this month<\/a> that was 3.8x oversubscribed. Kushma echoes our friend Ahmed Badr, MENA chief at Renaissance Capital, who said much the same thing when we sat down for a chat earlier this week<\/a>.<\/p>\n

But keep an eye on 10-year treasuries<\/strong>, the pundits say: Yields on ten-year US treasuries are now above 3%, a mark that preoccupied anchors on Bloomberg this past Tuesday and that today sees the Financial Times suggesting that the resulting resurgence in the USD could \u201chit EM carry trade favorites.\u201d<\/a><\/p>\n

Is shareholder activism becoming a thing in the GCC? <\/strong>It seems to be getting there, \u201cif events of the past week are a guide,\u201d Shaji Mathew writes for Bloomberg<\/a>. A number of companies in the region \u2014 including Damac, Drake & Scull International, and Union Properties \u2014 saw their stocks tumble on Monday and Tuesday as shareholders attempted to fire chairmen and board members, asked for new share issuances, and recommended lower dividends. \u201cIt\u2019s unusual in the six members of the GCC, where shareholders tend to rubber-stamp board decisions.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"

Egypt still attractive to the carry trade. Although rising US interest rates and global acknowledgement of credit risk from government bonds undermines slightly the competitive advantage of emerging markets, there is a view that the gap is still \u201cmeaningful enough\u201d to indicate that EMs will do just fine this year. \u201cThe trick is to seek […]<\/p>\n","protected":false},"author":1,"featured_media":630591,"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":[7204],"tags":[72,74],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-630590","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-what-were-tracking-today","tag-enterpriseam","tag-what-were-tracking-today","wpautop","entry"],"acf":{"mongo_id":"8c066770-b157-4668-99a6-095bef36d4d3","order":"0","is_powered_by":true,"section_story_id":"7e0dee6a-5738-4f49-89e7-48e465cc0944","story_type":"1","photo_url":"https:\/\/ent.news\/2018\/4\/1003.jpg","photo_position":"above","related_issue":[630586],"teaser":"","voice_url":""},"yoast_head":"\nEgyptian debt is still a safe bet for investors - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2018\/04\/26\/egyptian-debt-is-still-a-safe-bet-for-investors\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Egyptian debt is still a safe bet for investors\" \/>\n<meta property=\"og:description\" content=\"Egypt still attractive to the carry trade. Although rising US interest rates and global acknowledgement of credit risk from government bonds undermines slightly the competitive advantage of emerging markets, there is a view that the gap is still \u201cmeaningful enough\u201d to indicate that EMs will do just fine this year. \u201cThe trick is to seek […]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2018\/04\/26\/egyptian-debt-is-still-a-safe-bet-for-investors\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2018-04-26T04:28:49+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/i0.wp.com\/ent.news\/2018\/4\/1003.jpg?fit=%2C&ssl=1\" \/>\n<meta name=\"author\" content=\"enterpriseam admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"enterpriseam admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2018\/04\/26\/egyptian-debt-is-still-a-safe-bet-for-investors\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2018\/04\/26\/egyptian-debt-is-still-a-safe-bet-for-investors\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"Egyptian debt is still a safe bet for investors\",\"datePublished\":\"2018-04-26T04:28:49+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2018\/04\/26\/egyptian-debt-is-still-a-safe-bet-for-investors\/\"},\"wordCount\":300,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2018\/04\/26\/egyptian-debt-is-still-a-safe-bet-for-investors\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/i0.wp.com\/ent.news\/2018\/4\/1003.jpg?fit=%2C&ssl=1\",\"keywords\":[\"EnterpriseAM\",\"What We're Tracking Today\"],\"articleSection\":[\"What We're Tracking Today\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2018\/04\/26\/egyptian-debt-is-still-a-safe-bet-for-investors\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/2018\/04\/26\/egyptian-debt-is-still-a-safe-bet-for-investors\/\",\"name\":\"Egyptian debt is still a safe bet for investors - 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It\u2019s another slow day in the press, and we\u2019ve got the rundown for you below. Also in today\u2019s issue: we explore Egypt\u2019s domestic footwear sector and recommend your next read. So, when do we eat? Maghrib prayers are at 5:51pm in the capital, and\u2026","rel":"","context":"In "WHAT WE\u2019RE TRACKING TONIGHT"","block_context":{"text":"WHAT WE\u2019RE TRACKING TONIGHT","link":"https:\/\/enterpriseam.com\/egypt\/category\/what-were-tracking-tonight\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2025\/11\/1565.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":665988,"url":"https:\/\/enterpriseam.com\/egypt\/2025\/05\/27\/egypt-germany-sign-eur-118-mn-financing-agreement\/","url_meta":{"origin":630590,"position":1},"title":"Egypt, Germany sign EUR 118 mn financing agreement","author":"enterpriseam admin","date":"27 May 2025","format":false,"excerpt":"The two sides also signed a EUR 21 mn debt swap agreement","rel":"","context":"In "Development finance"","block_context":{"text":"Development finance","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/development-finance\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2025\/5\/2212.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":627186,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/07\/25\/em-investors-are-still-not-entirely-convinced-with-the-recent-rebound-in-government-bonds\/","url_meta":{"origin":630590,"position":2},"title":"EM investors are still not entirely convinced with the recent rebound in government bonds","author":"enterpriseam admin","date":"25 July 2018","format":false,"excerpt":"EM investors are still not entirely convinced with the recent rebound in government bonds so far into the second half of the year, Matt Wirz writes for the Wall Street Journal. That is despite the fact that debt mutual funds in emerging markets saw inflows of some USD 100 mn\u2026","rel":"","context":"In "What We're Tracking Today"","block_context":{"text":"What We're Tracking Today","link":"https:\/\/enterpriseam.com\/egypt\/category\/what-were-tracking-today\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2018\/7\/180.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":628259,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/06\/28\/egypt-could-issue-islamic-bonds-next-fiscal-year\/","url_meta":{"origin":630590,"position":3},"title":"Egypt could issue Islamic bonds next fiscal year","author":"enterpriseam admin","date":"28 June 2018","format":false,"excerpt":"Egypt may tap the global sukuk market in FY2018-19, Finance Minister Mohamed Maait tells Bloomberg in an interview. The plan to issue Islamic Sharia-compliant bonds in USD or EUR \u201cwould mark a revival of a plan shelved since 2013 when the government under then-Islamist President Mohamed Morsi issued the law\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":595910,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/08\/14\/what-were-tracking-on-14-august-2019\/","url_meta":{"origin":630590,"position":4},"title":"What we\u2019re tracking on 14 August 2019","author":"enterpriseam admin","date":"14 August 2019","format":false,"excerpt":"We\u2019re back, ladies and gentlemen. The domestic news cycle during Eid vacation was predictably slow. Thankfully, we\u2019ve been bestowed with arguably two of the year\u2019s most significant stories \u2014 the release of July\u2019s stunning inflation figures and Fawry\u2019s debut on the EGX \u2014 inside a single issue. We cover both\u2026","rel":"","context":"In "What We're Tracking Today"","block_context":{"text":"What We're Tracking Today","link":"https:\/\/enterpriseam.com\/egypt\/category\/what-were-tracking-today\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":593803,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/10\/10\/what-were-tracking-on-10-october-2019\/","url_meta":{"origin":630590,"position":5},"title":"What we\u2019re tracking on 10 October 2019","author":"enterpriseam admin","date":"10 October 2019","format":false,"excerpt":"Expect another low inflation reading when Capmas releases September\u2019s figures later today. Annual headline inflation plunged to 7.5% in August, the lowest reading in six-and-a-half years. Analysts are expecting the downward trend to hold, with Pharos\u2019 Radwa El Sweify predicting overall annual inflation to cool to 4.7% and Prime Research\u2026","rel":"","context":"In "What We're Tracking Today"","block_context":{"text":"What We're Tracking Today","link":"https:\/\/enterpriseam.com\/egypt\/category\/what-were-tracking-today\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/630590","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=630590"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/630590\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/630586"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/630591"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=630590"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=630590"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=630590"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=630590"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=630590"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}