Pre-Trading Thoughts
Manage episode 317630068 series 2987212
Egypt plans to develop industrial mining cities for the extraction of gold, copper, and phosphate.
The Minster of Petroleum said that Egypt is benefiting from the additional high returns from the export of LNG, which were not taken into account in the budget projections, creating a relative compensation for the increase in oil prices.
The trade deficit decreased by 12.5% during October 2021 to record USD2.63 billion; Exports increased by 48.2% YoY, recording USD3.76 billion; Imports increased by 15.3% YoY, reaching USD6.39 billion
The Ministry of Finance decided to complete the fourth phase of the “Instant Cash Payment” initiative to support exporters
The US CPI rose 7% YoY in December, the fastest since June 1982 - but in line with economists’ forecasts - feeding the expectations that the Fed will raise interest rates this year
QNBA 4Q21 net profit pre-minority interest and appropriations recorded EGP1.62 billion (-15% q/q, -12% y/y), bringing FY21 bottom line to EGP7.63 billion (+1.8% y/y). 4Q21 bottom line annual and sequential decline was driven by record provisions (more than tripling q/q) and high effective tax rate.
SWDY announced that its subsidiary El Sewedy Electric for Trading & Distribution (99.8% owned by El Sewedy Electric) signed a new contract worth EGP443.4 million for the lighting of South Ben Zayed Road in the New Administrative Capital
EGX listing committee approved the listing of 45.8% of Macro Group Pharmaceuticals (MCRO)
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