Pre-Trading Thoughts

The government has signed a fresh USD1.5 bn financing agreement with the International Islamic Trade Finance Corporation (ITFC) to fund energy and basic commodities imports. The Supply Ministry is set to finalize the “fair prices” of a number of food and consumer commodities this month, to clamp down on price gouging amid soaring inflation. The country needs to invest some USD30 bn into tourism to grow the sector by 25-30% annually between now and 2028. The CBE, FRA, and Social Housing ...