Pre-Trading Thoughts

Ras El Hekma is reportedly expected to reach total investments worth USD110 billion by 2045, with a yearly GDP contribution of USD25 billion, and create around 750k direct and indirect jobs. Egypt’s GDP growth rate was 2.4% in the fourth quarter of the 2023/24 year, bringing the annual growth rate to 2.4%, down from 3.8% a year earlier. Net International Reserves reached USD46.74 billion at the end of September 2024, up from USD46.6 billion in August, on higher value of gold component. Suez C...