Pre-Trading Thoughts

Suez Canal Authority (SCA) announced an increase in transit fees by 5-15% starting as of 15 January 2024. The CBE has asked banks to impose limits on the use of credit cards for foreign-currency transactions on concerns of misuse. Credit card holders will only be allowed to make USD250 a month in local FX transactions. Chinese companies could invest as much as USD15.5 bn in the Suez Canal Economic Zone (SCZone) after a series of agreements, memoranda and other pacts were inked. Investments ...