Pre-Trading Thoughts

Prime Minister held a meeting to look at offers submitted for Wataneya state-owned fuel retailer. Taqa Arabia is the only firm to have publicly declared interest, and Shell has reportedly also made a bid. The IMF has resolved key issues with Egypt in a review of its previous USD3 bn loan program from the Fund, setting the stage for an augmented financing package “within weeks”. Egypt's 5-year CDS rates sharply declined recording 6.76% on Monday, down from 9.85% on Friday, apparently respondin...