Pre-Trading Thoughts

Annual urban inflation rose to record 13.6% in July compared to 13.2% in June. On a monthly basis, inflation rose by 1.3% in July, from 0.1% in June, according to CAPMAS. Egypt will begin cutting back on electricity consumption nationwide from next week in a bid to redirect more natural gas towards exports. Ministry of Electricity achieves a monthly surplus of USD100- 150 million since October 2021 thanks to using the fuel oil (mazut) in electricity stations as a substitute for na...