Pre-Trading Thoughts

The government raised fuel prices 10-15% as of last Thursday. The price of mazut for most industries increased to EGP8.5k per ton, up 13.3% from EGP7.5k previously. The government has kept mazut prices stable for electricity generation and food industries. Foreign investments in Egypt’s t-bills stood at USD35.2 billion (EGP1.70 trillion) by the end of April, up from USD32.0 billion (EGP1.54 trillion) in March. The government is launching an initiative to support the tourism sector with EGP50 ...