Pre-Trading Thoughts

Abu Dhabi’s sovereign wealth fund ADQ has inked contracts with the Sovereign Fund of Egypt (SFE) to finalize its acquisition of minority stakes in three state-owned oil and petrochemical companies. The fund will pay USD 800 mn for the stakes. The government will start receiving final offers to purchase Wataneya petroleum products sales and distribution stations affiliated with the NSPO next week. Net foreign assets in the banking sector (banks + CBE) went down in September to negative U...