Pre-Trading Thoughts

-UBS will acquire Credit Suisse USD 3.25 bn in return for receiving up to CHF 100 bn in liquidity from the Swiss central bank. - Minister of Finance revealed draft state budget for FY23/24. It factors in 5% real GDP growth, a primary surplus of 2.5% of GDP, and an overall deficit of 6.37% of GDP. -El Sisi has directed the government to raise the personal income tax exemption threshold to EGP 36k from EGP 24k currently. -State-owned real estate companies El Nasr Housing and ...