Pre-Trading Thoughts

Egypt has signed framework agreements worth USD83 billion with international power companies to construct nine green hydrogen and ammonia facilities in the Suez Canal Economic Zone. Egypt’s unemployment rate rose marginally to 7.4% in 3Q 2022, up 0.2 percentage point from last quarter. The Sovereign Fund of Egypt could acquire a minority stake in ACWA Power’s planned 1.1-GW wind farm in the Gulf of Suez. The Ministry of Electricity has started negotiations with the German Development Bank to ...