Pre-Trading Thoughts

Egypt's external debt declined during the third quarter of last year by about USD720 million, to record USD154.98 billion, which is the second consecutive quarterly decline. Egypt joining the BRICS’ New Development Bank is raising hopes that this might help reduce demand for USD in the economy, as bank members can use their local currencies in bilateral trade. ORHD achieved stellar 4Q22 sales of EGP3.8 billion, up 28.6% y/y, bringing FY22 sales to ORHD’s highest-ever annual sales ...