Pre-Trading Thoughts

The tourism ministry is expecting to receive a record 15 mn tourists this year (c. USD15 billion in revenues) up 28% from 2022. Urban Communities Authority received over the last month some USD inflows in return for advance payments from Gulf investors for large land plots. Cabinet is considering fixing the interest rate for a large number of different vital sectors for a period of one year, including the real estate sector. Saudi Arabia’s National Shipping Company (Bahri) and the Suez ...